💥 Restaking Giant EigenLayer Roars

Together with

GM Defiers!

EigenLayer completed its long-awaited mainnet launch, coinciding with the deployment of its data availability solution, EigenDA. EigenLayer had emerged as the second-largest DeFi protocol with a $13.5 billion TVL prior to its mainnet launch.

In other news, analysts say Ether ETFs won’t receive SEC approval despite meetings, Monad closes largest web3 funding round of 2024, TON breaks into top 10 digital asset rankings amid sustained growth, and Fantom’s founder wants to foster a safer environment for the memecoin community.

Plus, a single custodian is absorbing 47% of newly minted Bitcoin.

✍️ In today’s newsletter:

• EigenLayer and EigenDA launch on mainnet
• SEC meets with Ether ETF hopefuls
• Monad’s funding round rakes $225M
• TON ranks 10th after rocketing 120% in 30 days
• Andre Cronje wants to back safe memecoins
• Cobo is receiving half of BTC mining rewards

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🎬 WATCH

Check out our guide to trading and even launching memecoins on Solana. Also, watch our podcast with Mike Silagadze, the founder of EtherFi, and Nikhil Raghuveera, the co-founder of Aethos, for a preview of EigenLayer’s AVS ecosystem.

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🎉 EigenLayer Launches on Ethereum Mainnet

EigenLayer, the pioneering Ethereum restaking protocol, is finally live on mainnet. EigenLayer provides additional yield to stakers who secure third-party services while simultaneously validating the Ethereum network. EigenLayer had already attracted deposits totaling 4.1 million or 13% of staked Ether prior to its mainnet deployment.

🔍 Analysts Remain Bearish On Ether ETF Prospects Despite SEC Meetings

Analysts hold low expectations for the chances of spot Ethereum ETFs receiving regulatory approval next month, despite the SEC holding meetings with Ether ETF hopefuls. The news comes as spot Bitcoin ETFs suffer outflows amid market volatility.

💰 Monad Labs Raises $225M in This Year’s Biggest Funding Round

Monad Labs, the team behind a forthcoming Layer 1 network, bagged $225 million in the largest web3 funding round of 2024 so far. The round was led by Paradigm and featured participation from other heavyweight crypto VCs including Coinbase Ventures, Electric Capital, and Castle Island Ventures.

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📈 TON Becomes Top 10 Cryptocurrency After 35% Surge

The Open Network’s TON token is now ranked among the top 10 cryptocurrencies by market cap after enjoying sustained bullish momentum amid a nine-figure incentive program. The price of TON is up 120% in 30 days, coinciding with the network’s TVL tripling.

⛑️ Fantom Founder Wants To Create a Safer Memecoin Environment

Andre Cronje, the founder of Fantom, wants to support the proliferation of meme tokens that offer a safer experience for users. Cronje said Fantom Foundation will team up with new memecoins with less than 10% of supply allocated to team members and provide $100,000 for liquidity pool pairings to ensure buyers are protected from rug-pull risks.

🔑 Single Entity Controls Keys to Nearly 50% of All Newly Mined Bitcoin

On-chain data shows that a single crypto custodian, Cobo, is absorbing 47% of new Bitcoin mining rewards from nine top pools. Community members are torn on the scale of threat Cobo could pose to the network, with some warning against the risk of a User Activated Hard Fork while others argue it is easy for the mining pools to simply migrate to a variety of different custodians.

🌍 ELSEWHERE

• MetaMask now lets users check if they are eligible for airdrops and NFT claims (The Block)
• Jupiter DEX Exposes Rampant Spam Bot Assault Amid Solana Congestion (CoinGape)
• EU's MiCA Rules Have Had Little Influence on the European Crypto Market, Regulator Says (CoinDesk)

🔥 TRENDING

• Aave Reduces MakerDAO's DAI Collateral After Proposal to Completely Eliminate It
• Do Kwon And Terraform Labs Found Liable For $40 Billion Fraud
• Markets Rally as Old Holders Are Met By New Money
• Ethena Labs ENA Launches at $1 Billion Market Cap Post Airdrop As “Sats Campaign” Kicks Off
• Chile Stands to Lead Latin America For Crypto Regulation, Even as it Lags in Adoption
• Airdrop April Continues as Solana NFT Platform Tensor Launches Token
• Vana Launches DAO Allowing Users To Control and Sell Their Reddit Data
• AI-Powered Web3Firewall Raises $2.5 Million Round Led By Nomura's Laser Digital
• The Bitcoin Halving Is 19 Days Away — How Did BTC Perform In Past Cycles?
• BlackRock Adds Five New Firms To ETF, Including Goldman Sachs, Citigroup
• Sushi Team Under Fire For Proposed Treasury Takeover
• Crypto Markets Bounce As Hedge Funds Pile On Bitcoin Shorts
• nuco.cloud Transforms with Rebrand to Become Global Cloud Computing Leader