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🚀ETH Soars 20% On ETF Approval Hopes
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GM Defiers!
✍️ In today’s newsletter:
- Ethereum Soars As Analysts Increase Odds for ETF Approval To 75%
- Web3 Gaming Token GALA Crashes After $240M Exploit
- LayerZero Labs Identifies 800,000 Potential Sybil Addresses in Public List
- Solana Surges While Rest of Crypto Majors Start Week Flat
- Institutions Ramp Up Crypto Exposure: CoinShares
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📈 Markets in the last 24 hrs:
Ticker | Value | 24h |
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Ticker | Value | 24h |
---|---|---|
Bitcoin | $66,1517.44 | % |
Ethereum | $3,017 4.68 | % |
Gold | 1st Future$2,389 1.50 | % |
S&P 500 | 5308.15 1.17 | % |
Arch Web | 32.09 7.62 | % |
Learn more about Arch Indices ,[object Object] | % |
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🚀Ethereum Soars As Analysts Give ETH ETF Approval 75% Odds
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Two of the industry’s top ETF analysts have increased the likelihood of a spot Ethereum ETF approval to 75% from 25% as the SEC approaches its May 23 deadline to respond to the first applications.
Ether soared by more than 20% to $3,800.
☠️Web3 Gaming Token GALA Crashes After $240M Exploit
Gala Games, a popular web3 gaming network, is reeling after a hacker exploited the smart contract for the GALA token and minted tokens worth $240 million.
While the attacker was able to sell tokens worth $21 million via the decentralized exchange Uniswap, Gala Games moved quickly to freeze the remaining 4.4 billion GALA.
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The Guru Network aims to integrate AI and blockchain technologies to enhance real-world business applications across multiple chains. This multi-chain AI compute layer utilizes the CCIP protocol for secure messaging and value transfer, positioning itself as a "Layer 3" solution. Key features include reliable off-chain data integration and automated business process management, which aims to reduce user error and streamline operations. The network facilitates an environment where developers, known as 'Gurus', can deploy AI-driven applications and workflows, enhancing both scalability and efficiency across supported blockchains. Incentives are offered for contributions to the network's growth and functionality, with a focus on fostering a collaborative ecosystem for both individual and enterprise-level participants.
READ MORE: Guru Network: Multi Chain AI Compute Layer
🔎LayerZero Labs Identifies 800,000 Potential Sybil Addresses in Public List
LayerZero Labs has made public a list of 800,000 addresses flagged as created solely for the purpose of farming the project’s airdrop.
On May 18, LayerZero concluded its Sybil self-reporting phase. During this period, users had the opportunity to report their wallet addresses as Sybils and receive 15% of their planned token allocation if they did so within a 14-day window.
☀️Solana Surges While Rest of Crypto Majors Start Week Flat
Crypto markets traded flat on Monday morning, following a strong performance last week driven by positive Exchange Traded Fund (ETF) inflows and macroeconomic indicators.
Solana popped as network metrics continued to climb. SOL is up 23% in the past week.
📈Institutions Ramp Up Crypto Exposure As Weekly Volume Plummets: CoinShares
Major institutions added $932 million in cryptocurrency to their portfolios last week. The seven days ended on May 19 mark the second weekly inflow in a row after four weeks of outflows.
The additional $932 million brings the yearly total for institutions to a whopping $13.8 billion.
🌍 ELSEWHERE
- Uniswap Labs Denies Crypto Tokens Are Securities in SEC Response (Bloomberg)
- Ethereum rises 18% and Sen. Elizabeth Warren sinks in latest D.C. crypto drama (Fortune)
- Meta, Match, Coinbase and others team up to fight online fraud and crypto scams (TechCrunch)
🔥 TRENDING
- Infinex Attracts $60 Million of Deposits in Two Days
- Lido Proposes Alliance Promoting stETH-Based Restaking Ecosystem
- Gamestop and Memecoins Rally as RoaringKitty Returns
- Pudgy Penguins Puts Toys In Target Stores
- MarginFi To Launch Solana LST-Backed Decentralized Stablecoin This Month
- Cardano to Incorporate CIP-69 in Next Upgrade to Streamline dApp Development
- EigenLayer Airdrop Claims Go Live
- The Most Bizarre Moments In Crypto
- Anatoly Yakovenko Previews Solana Post-Firedancer
- Bitcoin Crashes by $2,000 in 60 Minutes
- Pump.Fun Surpasses Uniswap in Weekly Revenue
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