🪙 ZKSync Users Scramble To Claim Airdrop
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ZkSync users rushed to claim their airdrops after the ZK token went live, driving degraded performance on the network. More than 45% of the airdrop had been distributed within two hours of claims going live.
The combined throughput of Ethereum scaling solutions rocketed to new heights above 240 transactions per second. The milestone was driven by Xai’s Vanguard:Genesis points campaign, with Base and Proof Of Play Apex also hosting notable activity.
Plus, ETH exchange balances have dropped to an eight-year low, digital assets dip amid heavy Bitcoin ETP outflows, and PleasrDAO sues Martin Shkreli over Wu-Tang IP.
✍️ In today’s newsletter:
- ZK airdrop claims are live
- Xai drives record L3 throughput
- ETH balances on centralized exchanges shrink
- Crypto ETPs suffer heaviest outflows in months
- PleasrDAO’s lawsuit over one-of-a-kind Wu-Tang Clan album
🙏Sponsored
📈 Markets in the last 24 hrs:
| Ticker | Value | 24h |
|---|---|---|
| Bitcoin | $66,7820.89 | |
| Ethereum | $3,632 1.88 | |
| Gold 1st Future | $2,331 1.36 | |
| S&P 500 | 5431.60 | -0.04 % |
| Arch Web | 32.15 1.82 | |
| Learn more about Arch Indices |
🎬WATCH
Check out our podcast with Johann Kerbrat, the general manager of Robinhood Crypto, to learn about the firm’s latest forays into web3. And catch up on our interview with Marcos Nunes, the co-founder of Gnosis Pay, to learn about how they are bridging the gap between self-custodial crypto wallets and traditional payment methods.
Plus, watch our video exploring the implications of Curve’s founder losing 141 million CRV to liquidation!
| NEWSLETTER CONTINUES BELOW |
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🪂Nearly Half Of Airdropped ZkSync Tokens Claimed In Just Two Hours
The launch of ZkSync’s ZK token has users racing to claim the token, with nearly half of the airdropped tokens claimed within two hours. The ZK token is off to a mixed debut performance, with the asset dipping 26% since airdrops went live but retaining a nearly $850 million market cap.
🚀Soaring Xai Adoption Propels L2 and L3 TVL To All-Time High
Activity on Ethereum scaling solutions is at a new all-time high of 243 transactions per second (TPS). Layer 3s are on fire, with Xai’s throughput surging 9,000% in one week to tag 101 TPS, while Proof Of Play Apex is at 16 TPS after jumping 900% over the same period.
📉ETH Exchange Balances Hit Eight-Year Low as Investors Prepare for Rally
Just 12 million ETH or 10% of Ether's supply remains on centralized exchanges after investors pulled 4.1 million Ethereum from CEXes in 10 days. The trend has driven the sum of ETH on centralized exchanges to its lowest level since March 2016, suggesting whales are seeking on-chain yield in anticipation of bullish momentum driven by spot Ether ETFs.
SPONSORED POST
Nexo’s Hunt for $13M in NEXO Tokens airdrop rewards users for their engagement on the Nexo platform. Participants earn points through activities like exchanging crypto and using a multitude of services on the Nexo platform. While the campaign ends soon, on July 7, it still offers latecomers a chance to accumulate significant points through multipliers, giving you a good shot at a larger share of the airdrop.
New users receive a 5x multiplier, and additional multipliers include up to 2x for being a part of Nexo’s Loyalty program, and more. So if you’re looking to get in on an airdrop, this might be just the thing, check it out.
READ MORE: NEXO’S $13M AIRDROP: LATECOMERS CAN STILL WIN BIG
⬇️Crypto Markets Trade Lower as Institutions Offload Millions in Bitcoin
Institutional investors are hedging their Bitcoin bets, with $600 million flowing out of exchange-traded products tracking BTC last week — the largest weekly outflow since March. Digital assets are off to a feeble start to the week, with most leading assets suffering modest drawdowns.
👨⚖️PleasrDAO Suing Martin Shkreli Over IP Rights Is a Sign of a Maturing Ecosystem
PleasrDAO has launched legal action against Martin Shkreli, the convicted felon and notorious co-founder of Retrophin and Turing Pharmaceuticals, for allegedly making unauthorized copies of a one-of-a-kind album from the famed hip-hop ensemble Wu-Tang Clan. PleasrDAO previously paid $4.7 million for exclusive rights to the record.
🌍 ELSEWHERE
- SEC's Head of Crypto Asset and Cyber Unit departs after nearly nine years (The Block)
- U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June (CoinDesk)
- LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC (Bitcoin Magazine)
- Convex Finance Token Surges 100% as veCRV’s Weekly Inflows Skyrocket (Unchained)
🔥 TRENDING
- DeFi Founders Using DeFi to Buy Mansions is Not the Problem
- ETH Exchange Balances Hit Eight-Year Low as Investors Prepare for Rally
- Crypto Markets Slide Amid Heavy Bitcoin ETF Outflows
- Polkadot Community Backs JAM Overhaul
- Insider Accused Of Perpetrating Holograph Exploit, Tanking HLG By 50%
- Memecoins Get Decimated Amid Market Downturn
- Michael Egorov Promises To Develop Curve Amid Accusations Of Elaborate Cash-Out
- Bitcoin Layer 2 TVL Soars Above $2 Billion
- ZapperFi to Build ‘Road to Onchain Literacy’ with Zapper Protocol
- U.S. Senator Tells Gary Gensler Crypto Desperately Needs Resources
- Gensler Predicts Ethereum ETFs Approval by ‘End of Summer’
- Arbitrum Plots Stage 2 Decentralization With Permissionless Transaction Validation
- Curve Finance Founder Michael Egorov Suffers Massive Liquidations
- UwU Lend Suffers Second Exploit In One Week, Bringing Losses To $23 Million
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