👀Base Activity Surges on Onchain Summer Campaign
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Activity on Base is surging after the network introduced its Onchain Summer campaign rewarding participants. The Layer 2 network is processing more than 900,000 daily transactions. In other points-related news, EtherFi launched its third points campaign after opening claims for its Season 2 airdrop.
Also, crypto was unaffected despite outages from Microsoft and Crowdstrike wreaking havoc across the web2 ecosystem, although Scroll did pause, but that was because of a $7 million exploit to Rho Markets. Crypto markets post modest dip despite strong Bitcoin ETF inflows.
✍️ In today’s newsletter:
- Base points drive strong activity
- EtherFi launches Season 2 airdrop claims
- Web3 shrugs off Microsoft and Crowdstrike downtime
- Spot Bitcoin ETFs host inflows of $860 million
- Messari CEO steps down
- Top Scroll protocol suffers $7M exploit
- Beaverbuild ceases transaction censorship
- ZetaChain’s Gateway upgrade
- Copper expands support for ICP-native tokens
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📈 Markets in the last 24 hrs:
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☀️Base’s Onchain Summer Heats Up
Base is hosting more than 900,000 transactions daily. The jump in activity follows Base launching a points campaign for Onchain Summer participants. Base’s TVL is up 10% over the past week.
🪂Ether.Fi Releases Season 2 of its ETHFI Token Airdrop
EtherFi users can now claim their Season 2 airdrops, with 11% of ETHFI’s supply now distributed to early adopters across the first two campaigns. An additional 2.5% will go to wallets that qualify for its ongoing Season 3 program.
✊Microsoft Goes Down But Crypto Doesn’t Care
The web3 sector was largely unaffected while the web2 ecosystem was rocked by outages from Microsoft and Crowdstrike. While the likes of Visa, Bank of America, Wells Fargo, and major U.S. airlines suffered significant disruptions, the crypto platforms shrugged off the incident with ease.
📉Crypto Markets Dip as Traders Speculate On Biden Withdrawal
Digital assets suffered modest pullbacks over the past 24 hours, with BTC, and ETH pulling back by 1.2% and 2%, respectively. However, it was a bullish week for crypto, with most top 10 assets posting double-digit bounces, while spot Bitcoin ETFs hosted inflows of $860 million.
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🚪Messari CEO Ryan Selkis Steps Down After a Slew of Controversial Social Media Posts
Messari’s long-time CEO, Ryan Selkis, stepped down after attracting backlash for posting his political views on social media. Messari’s co-founder, Eric Turner, will take the reigns as interim CEO.
🛑Scroll Halts Chain Finalization After $7 Million Rho Market Exploit
Scroll has paused chain finalization after Rho Markets, a top 10 DeFi protocol on Scroll, was exploited for $7.5 million. However, the culprit claims they merely took advantage of a “misconfiguration,” and said they would return the funds should the project fess up to its mistake.
👷Top Builder On Ethereum is No Longer Censoring
Beaverbuild, Ethereum’s largest block producer, has stopped complying with U.S. sanctions. The move comes as the volume of uncensored Ethereum blocks recently tested year-to-date highs.
🌐ZetaChain Aims to Push Cross-Chain Interoperability Envelope With Gateway Upgrade
ZetaChain shipped its Gateway upgrade, enabling users to access DeFi dApps from a multitude of third-party networks. Web3 users can also interact with ZetaChain-native protocols from other chains.
⬆Copper Launches Support For Internet Computer’s ICRC and SNS Tokens
Copper is deepening its support for Internet Computer, with the digital asset custodian integrating ICP’s SNS and ICRC token standards. Copper users can now access ICP’s Bitcoin-backed ckBTC token, with plans to roll out support for additional tokens soon.
🌍 ELSEWHERE
- Grayscale slashes Ethereum Mini Trust fees to 0.15%, lowest in market (CryptoSlate)
- Italy's Top Banks Participate in 25M Euro Digital Bond Issuance on Polygon in ECB Trial (CoinDesk)
- South Korea’s inaugural crypto law goes into full effect (The Block)
- Spot Bitcoin ETF Balances Hit All-Time High (Unchained Crypto)
🔥TRENDING
- Owlto Finance, the Premier Blockchain Interoperability Protocol, Raises Funds at $150M Valuation
- Arca Taps Securitize To List Tokenized U.S. Treasury Fund
- Hermetica Launches Bitcoin-backed Synthetic Dollar
- Trump to Launch Fourth NFT Collection Because ‘The People Want Him To’
- Real World Asset Sector Outperforms on Growing TradFi Tokenization Effort
- Crypto Markets Surge After BlackRock CEO Larry Fink Calls Bitcoin ‘Digital Gold’
- Starknet Integrates Pyth Network as Oracle Provider
- DeXe Partners with HOT to Empower Telegram with DAO Creation
- Pixelverse to Launch PIXFI Token on TON Network
- ‘Mempool Sniping’ Plagues Bitcoin Ordinals
- Pendle Launches New Pools On Arbitrum Network
- Scroll TVL Soars Past $1 Billion
- Bloomberg Analyst Says Ethereum Spot ETF to Launch July 23
- Trump-related Tokens Soar After Ex President Survived Shooting at Rally
- Matcha Unveils New Price Engine For Whales Trading on DEXs
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