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Weekly Recap: Bitcoin Hits All-time High Above $111,000

Happy weekend Defiers!

Crypto markets enjoyed another bullish week, with Bitcoin surging to a fresh record high of $111,814 on Thursday. This marks a seventh straight week of gains for the world’s largest cryptocurrency.

Altcoins aren’t faring nearly as well however, with Bitcoin’s dominance hitting 65% for the first time since February 2021.

The Sui ecosystem was hit by a major exploit as a hacker drained $223 million worth of SUI from Cetus Protocol, the network’s largest decentralized exchange. While the team was able to freeze around $160 million, the attacker bridged $63 million to Ethereum.

Plus, Hyperliquid’s token and TVL hit all-time highs, and top TRUMP holders come away disappointed from the presidential dinner.

Enjoy!

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Top stories this week

Bitcoin Hits Another Record High Above $111,000

After gaining 2% on Thursday, Bitcoin traded above $111,000 following a week-long rally. The latest surge pushed its market capitalization past $2.2 trillion.

Meanwhile, ETH and SOL posted weekly gains of 4% and 6%, respectively.

Cetus Hacker Buys $60 Million of ETH After Looting $223 Million

A hacker who exploited leading Sui DEX Cetus Protocol to drain $223 million worth of SUI tokens has moved nearly a third of the stolen funds to Ethereum.

Aave Now Commands a Fifth of Total DeFi TVL

Lending protocol Aave has hit a major milestone, now accounting for 20% of the total value locked (TVL) across the entire decentralized finance (DeFi) ecosystem.

The protocol’s TVL dominance has nearly doubled since January 2024 – rising from 11% to 20% over the past 16 months. During that same period, DeFi’s total TVL doubled from $56 billion to $115 billion.

HYPE Skyrockets to New All-Time High

Hyperliquid’s HYPE token is one of the top performers this week, driven by BTC’s new all-time high breakout and the CFTC commissioner’s favorable language toward perpetual futures trading in the United States.

TRUMP Memecoin Dinner Attendees ‘Shocked’ by Lack of Access

Attendees of the dinner for the top 220 TRUMP memecoin holders came away from the dinner “disappointed by the lack of meaningful interaction with the president.”

After making million-dollar-plus investments in the TRUMP memecoin, all they got was a brief speech reiterating his intention to make the U.S. the global leader in crypto.

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