🚀Sui Ecosystem Outperforms as Bitcoin Clears $95,000
gm Defiers!
Bitcoin surged above $95,000 on Friday, hitting a two-month high to cap off a bullish week across crypto markets. SUI was the week’s big winner, rallying 70% and sparking an ecosystem-wide rally.
Modular blockchain platform Initia launched its mainnet and native INIT token, which opened at a $700 million valuation.
Meanwhile, Cardano founder Charles Hoskinson claims that Ethereum will be obsolete in a decade due to poor design choices.
Plus, Hyperliquid TVL soars, Wormhole launches MultiGov, and Wall Street bets on staked ETH ETFs.
✍️ In today’s newsletter:
- SUI surges 70% in a week
- Modular blockchain Initia launches mainnet and airdrop
- Can Ethereum leadership reverse rock-bottom ETH sentiment?
- Bitcoin hits 2-month high above $95,000
- Hoskinson says Ethereum will be dead in 10 years
- Hyperliquid TVL approaches ATH
- Wormhole launches MultiGov crosschain governance platform
- Wall Street’s next bet: staking-enabled ETH ETFs
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🚀Sui Ecosystem Outperforms Altcoin Market
SUI is up 73% to a $12 billion market capitalization over the last week, making it the biggest winner among large-cap altcoins. DEX tokens DeepBook (DEEP) and Cetus are up 100% and 125%, respectively, in the same period
🪂Initia Launches Mainnet with INIT Token Airdrop
Initia, a modular blockchain platform that combines a Layer 1 blockchain with a customizable Layer 2 rollup framework, launched its mainnet and native token on April 24. INIT currently trades at a $900 million fully diluted valuation.
📣Ethereum Leadership Seeks to Reverse Rock-bottom Sentiment with New Roadmap
After growing pressure born out of ETH’s underperformance, Ethereum is shifting its strategy. A renewed focus on scaling the Ethereum mainnet comes as activity on the L1 declines while more and more transactions take place on Layer 2 networks like Base and Arbitrum.
📈Crypto Markets Tick Up Amid Positive Macroeconomic Data, but Inflation Fears Linger
BTC increased 2% over the past 24 hours, trading hands at around $95,400. ETH is also up 2% to approximately $1,800, while XRP remained flat on the day. SOL gained 2.6% to $155.
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🗣️Charles Hoskinson Claims Ethereum Will Not Survive “More than 10 to 15 years”
Hoskinson argues that Ethereum has made three major errors that will lead to it becoming obsolete within the next decade or so. He likens Ethereum’s trajectory to that of Myspace and Blackberry, calling it a “victim of its own success.”
📊Hyperliquid TVL Surges as HyperEVM Activity Picks Up
Hyperliquid’s Layer 1 ecosystem, known as the HyperEVM, has grown 60% over the last month and 14% over the last week. Hyperliquid’s TVL is back to $670 million, just 3% shy of its all-time high in February.
🗳️Wormhole Launches MultiGov on Solana, Ethereum, and EVM Layer 2s
MultiGov, developed by Wormhole, Tally, and Scopelift, lets token holders propose, vote on, and execute governance decisions across multiple chains – including Solana, Ethereum, Base, Arbitrum, and Optimism.
🏦Wall Street’s Next Bet: Staking-Enabled ETH ETFs
On the surface, Ethereum may appear to be lagging, but staking-enabled ETH ETFs might very well be the light at the end of the tunnel.
🔥TRENDING
- Zora’s Token Airdrop Sparks Confusion
- With a Pro-Crypto SEC and 72 Crypto ETF Filings, Bloomberg Analyst Predicts ‘a Wild Year’
- Crypto Market Tops $3 Trillion for First Time in Six Weeks as ETF Inflows Pick Up
- TRUMP Memecoin Surges 60% After Unveiling Presidential Dinner for Top Holders
- Ripple’s RLUSD Stablecoin Launches on Aave
- Ethereum's Based Rollups Are Gaining Momentum, Aiming to Unify Fragmented L2 Space
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