Weekly Recap: Bitcoin Craters to $81,000
Happy weekend Defiers!
Crypto markets dropped for a fourth straight week, with BTC briefly dipping under $81,000 on Friday. ETH and SOL are trading at around $2,750 and $128, respectively, as the total crypto market capitalization drops below $3 trillion for the first time since April.
Asset management giant BlackRock is making preparations for a staked ETH ETF with a Delaware trust registration.
Polymarket and Kalshi are capitalizing on prediction market mania to raise more funding.
Meanwhile, Hyperliquid unveiled ‘Growth Mode,’ which will slash fees for qualifying HIP-3 markets to boost activity.
Finally, Kraken is gearing up to go public.
Enjoy!
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Top stories this week
Crypto Markets Face Brutal Reset as Liquidations Surpass $2B
A wave of liquidations slammed markets on Friday, pushing total market capitalization down 8% to below $3 trillion.
Bitcoin plunged over 10% on the day, falling to as low as $81,050, extending its weekly losses to 12%.
BlackRock Registers Staked Ethereum Trust
Nearly four months after the SEC acknowledged BlackRock’s filing to permit staking in the firm’s Ethereum ETF, the $10 trillion investment firm has registered a new staked Ethereum Trust in Delaware.
Polymarket Seeks $12 Billion Valuation After Record-Breaking Month
Polymarket is capitalizing on prediction market mania as it seeks to raise yet another round of funding at a $12 billion valuation.
Meanwhile, Kalshi raised $1B at a $11B valuation.
Hyperliquid to Roll Out ‘Growth Mode’ to Supercharge New Markets
Growth Mode is a mechanism designed to help Hyperliquid ecosystem projects launch and attract early activity to new perpetuals markets by slashing all-in fees by 90% or more.
Kraken Reveals Confidential IPO Filing After Fresh $800M Raise
Payward, the parent company behind U.S. centralized crypto exchange Kraken, took its first formal step toward going public by filing a draft S-1 with the SEC for a planned IPO.
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