Akash Network Surges; AAVE, KASPA Poised to Rise
Akash Network ($AKT) surged 20% this week to $3.60, while $AAVE rose 18% to $96, and $KAS increased 20.5% to $0.15. Akash’s 50% April boom led to over $1B market cap. #Update #Crypto #Blockchain
Defi
Broker Rule Finalized, DeFi Decision Deferred
New IRS rules mandate crypto brokers to report transactions, including stablecoin and high-value NFT trades, from Jan 1, 2025. DeFi and unhosted wallet guidelines are deferred. 15M users, 5K firms impacted. #CryptoTax #Update
US Targets Non-Custodial DeFi in Major Crackdown
The US government targets non-custodial DeFi services in a crackdown involving @TheJusticeDept, @USTreasury’s OFAC, and @SECGov. Notable actions include charges against Samourai Wallet and Tornado Cash developers, driving companies like Wasabi Wallet out of the US. #DeFi #Update
Andromeda Injective Alliance Accelerates DeFi Growth
Andromeda integrates with @InjectiveLabs to boost DeFi adoption, enabling users to fractionalize, tokenize, and trade digital assets on a unified platform. This partnership enhances multi-chain composability and user experience. #DeFi #Update
MKR Soars 9% During MakerDAO Audit Contest
MKR surged 9% to $2,522 after MakerDAO’s $1.35M audit contest was announced. Trading volume hit $107M, up 23%. The contest aims to enhance the Endgame project’s security, starting July 8, 2024. #CryptoNews
PancakeSwap Unveils AI Predictions Market on Arbitrum
PancakeSwap launches AI-driven predictions market on Arbitrum, letting users forecast $ETH price movements every 10 mins for token rewards. Celebrating with a 9-week campaign and 60,000 $ARB reward pool. #DeFi #Update
Bitcoin DeFi Tool ALEX Lab Blames Lazarus Hack
North Korean hackers Lazarus Group likely behind a $4.3M attack on Bitcoin-focused defi platform ALEX Lab in May. ALEX Lab works with international law enforcement to recover funds and boost security. #CryptoSecurity #Update
Bitcoin Price Driven by Key Liquidity Factors
Bitcoin’s price is influenced by fiat currencies, stablecoins, and spot-based ETFs, says @ki_young_ju of @cryptoquant_com. Negative Coinbase premium reflects weak fiat inflows. Bitcoin’s RSI shows it’s oversold, hinting at a potential rebound. #Update #Bitcoin
Binance Labs Funds Infrared Liquid Staking Protocol
Infrared Protocol secures funding from @BinanceLabs to expand its team and conduct audits, preparing for the Berachain V2 testnet. With plans to hire three more, Infrared aims to launch its IRED token, enhancing flexibility and efficiency in #DeFi. #Update
Phishing Scam Costs MakerDAO Delegate $11M
MakerDAO delegate loses $11M in $aEthMKR and $PENDLE in a phishing scam. Scam Sniffer flagged the breach, showing the risks to key crypto figures. $300M stolen from 320K users in 2023. #CryptoSecurity
1inch Enhances Security with Blockaid Partnership
? 1inch partners with Blockaid to launch 1inch Shield, a new security solution for DeFi. Supported by TRM Labs, it detects fraudulent tokens and monitors for illegal activities. Aims to set a new security standard in crypto, enhancing user trust. #DeFi #CryptoSecurity
Blockchain Success: Alessio Vinassa’s DeFi Strategies
Alessio Vinassa, CEO of BlockTechGroup, uses AI to back over 35 blockchain, DeFi, and fintech startups. His focus on ethical practices and community impact sets new standards in fintech. #Blockchain #Update
Solana Rival Base Surges in Adoption
Base, a new blockchain platform, sees rapid growth, increasing daily active users from 437K to 642K in two days. With 2.766M daily transactions, Base is challenging @Solana by addressing Ethereum’s scalability. #Blockchain #Update
Uniswap Fees Surge, Dominates DEX Market
Uniswap generates nearly $100M in fees over the past month, doubling any other DEX, per Token Terminal. This places Uniswap DAO at the top, surpassing PancakeSwap, Aerodrome, Uniswap Labs, and GMX combined. #DeFi #Update