⬇️ETH Pulls Back Despite Futures ETFs Launching

GM Defiers!

Ether led a broader digital asset market retracement after traders used the launch of seven ETH futures ETFs as an opportunity to sell-on-the-news. ETH gave up half its gains from the past week amid the sell-off, with Ether last changing hands for $1,655.

A Manifold Trading employee was outed as the insider behind a bot-based trading spree on Friend Tech that netted them $33,000 in fast profits. "The game will continue to evolve, and we will continue to invest and participate," Manifold said with little remorse.

And Bubblegum, the Solana-based NFT compression tool, is enjoying a surge in popularity. Users are now minting 3M NFTs via the tool each week, with both asset collectors and issuers leveraging Bubblegum to save fees.

✍️ In today’s newsletter:

• Crypto markets retrace after Ether futures ETFs launch
• Manifold Trading employee behind Friend Tech insider trading
• Compressed NFT blow up on Solana

🙏Sponsored

• Introducing ETH Saver - A new home for leveraged staking