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VanEck, a top U.S. investment management firm, is tipping that the price of ETH could surge to $22,000 by the end of the decade as a “base” case scenario. The firm’s “bull” scenario predicts ETH could rise as high as $154,000 by 2030.

The Open Network (TON) is the fastest-growing Layer 1 network of 2024. TON’s total value locked (TVL) now sits at $386 million — a 27-fold increase since the start of the year.

The U.S. Congress is perhaps surprisingly considering the benefits tokenization could have on capital market efficiency. Various industry experts provided testimony, with Nadine Chakar, the global head of DTCC Digital Assets, emphasizing the transformative potential of tokenization.

Plus, Wormhole launches staking and governance for W tokenholders, dYdX v5 will ship next week, and Farcaster’s user base may be just a few thousand.

✍️ In today’s newsletter:

VanEck offers bullish ETH prediction
TON growth surges
Congress hears tokenization testimony
Wormhole activates governance for W holders
DYdX v5 upgrade looms
Farcaster users recede amid SocialFi slowdown

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📈 Markets in the last 24 hrs:

	Ticker	Value	24h

Ticker	Value	24h
Bitcoin	$70,5262.20	%
Ethereum	$3,817 1.12	%
Gold	1st Future$2,348 0.05	%
S&P 500	5291.34 0.15	%
Arch Web	32.48 5.34	%
Learn more about Arch Indices ,[object Object]		%

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Check out our podcast with David Schwartz, the CTO of Ripple, to get up to speed on the project’s roadmap and legal battle with the SEC. And catch up on our interview with Bobby Ong, the co-founder of CoinGecko, to learn about the popular crypto data provider. Plus, watch our DeFi 101 video exploring passive income strategies!

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📈Ethereum Hype Spurs Crypto Rally as VanEck Projects $22,000 ETH Price

VanEck, a leading global asset issuer among prospective Ether ETF applicants, is tipping that the price of ETH could surge by orders of magnitudes by 2030. While the firm’s “base” outlook is set at $22,000 per ETH at the end of the decade, VanEck’s bull case has Ether trading as high as $154,000 as of 2030.

🚀Telegram's The Open Network is 2024's Fastest Growing Chain

The Open Network, the Layer 1 Network integrated with Telegram — the popular encrypted messaging app — is the fastest growing L1 network of 2024. TON’s total value locked (TVL) has increased 27 times since the start of the year to tag heights above $385 million.

🤔Congress Considers Benefits of Tokenizing Real-World Assets

The U.S. Congress heard testimony from a variety of stakeholders and experts regarding the virtues of asset tokenization within the financial industry, with many of the comments taking a surprisingly bullish tone. “With the help of blockchain, tokenization can automate some of [the] critical processes within a financial transaction, bringing along streamlined settlement and lower costs,” said committee Chairman Rep. French Hill.

🕳️Wormhole Launches Staking and Governance For W Token Holders

Wormhole, the popular cross-chain bridge originating from Solana, launched a staking and governance mechanism for W holders. The multi-chain governance system leverages Wormhole’s MultiGov protocol to facilitate participation across multiple EVM-compatible networks

🆕DYdX To Complete v5 Upgrade Next Week

DYdX, a leading decentralized derivatives DEX, is set to launch its v5 iteration next week. The upgraded protocol will introduce isolated markets, batch orders, liquidity vaults, and new price oracles.

🔎How Many Users Does Farcaster Actually Have?

Despite the recent SocliaFi boom, the active user base on Farcaster, a leading web3 social platform, has dwindled to just a few thousand. According to an analysis, less than 5,000 wallets are Farcaster “power users.”

🌍 ELSEWHERE

Crypto Marketplace Bakkt Weighs Potential Sale, Breakup (Bloomberg)
Attacker sends nearly 24,000 phishing emails derived from compromised CoinGecko third-party email platform (The Block)
GameStop Tumbles 40% as Trading Icon Roaring Kitty Returns to Livestream (CoinDesk)