Track market-moving stories before they get noisy

Dogelon Mars: The OG Memecoin Rocketing Back into the Spotlight 

Wall Street Is Onboarding Cardano — Yet ADA Sits at a 5-Year Low

PANews reported on April 23 that, according to Cryptopolitan, Token Terminal data shows that the total value locked (TVL) of tokenized US Treasury bonds on-chain has surpassed $14 billion, setting a new record. Benji Fund, owned by Franklin Templeton, saw its on-chain assets grow by over 381% in the past month, becoming the fastest-growing issuer of tokenized debt. Tokenized Treasury bonds are primarily issued on Ethereum, with significant growth also observed on BNB and Solana. Currently, approximately 33,900 wallets hold tokenized Treasury bonds, nearing the historical peak. Holders are mainly DeFi teams and protocols, using tokenized Treasury bonds as collateral in lending protocols such as Morpho, Sky, and Flux. Based on an annualized yield of 3.68%, the $14 billion TVL could generate approximately $515 million in returns annually.

Ethereum gaming franchise Illuvium has undergone a company restructuring, resulting in layoffs along with some core contributors opting to take pay cuts or receive their wages in the gaming IP’s own token.

The downsizing comes after Illuvium released a trio of interconnected games last year—Overworld, Arena, and Zero—that covered varying genres. Despite its ambitious vision, the community's reaction wasn't overwhelmingly positive following years of development.

In December, co-founder Kieran Warwick admitted that "concerns" about the franchise's gameplay were valid and that things had to change. Part of this included that Illuvium had "significantly" reduced its costs via capping wages at $85,000, among other adjustments.

But this week, Warwick said that more substantial cuts had to be made.

"We made the difficult decision to restructure our core contributor team to bring our monthly burn rate closer to $500,000," Warwick said in a Tuesday statement. "We want to extend our sincere gratitude to everyone affected by these changes."

The statement on X (formerly Twitter) further explains that some employees have "generously offered" to take pay cuts, while others have chosen to receive their salary in the project's ILV token rather than the USDC stablecoin. It also alludes to letting employees go as part of a “leaner” approach, although never explicitly says this is the case.

In the replies, Illuvium Community Manager DickKingz, also known as Rich, explained that the team is now down to 66 core contributors—down from between 100 to 150 people as of late.

"The trim to 66 was unfortunately a lot of my teammates and friends, and [I] hate to see them go," Rich said. "Hopefully it’s only bye for now, and in the future when things improve, we can bring many back."

Illuvium did not immediately respond to Decrypt's request for comment.

As a result of the restructuring, as well as some other operating cost cutting measures, Illuvium has gotten closer to its "burn rate" goal of $500,000—it was at $900,000 as of December. This means that the Illuvium franchise now has a 24-month runway to continue development.

Previously, Warwick explained that Illuvium planned to seek fresh funding around March. But in the wake of the restructuring, he confirmed that the franchise isn't looking to raise "right now." 

He had also previously outlined a plan to move the franchise forward. The co-founder proposed focusing on one game at a time—rather than the three games it was developing—including reworking its Overworld to be a more streamlined version of a massively multiplayer online game, or MMO, and reducing in-game microtransactions. 

It appears that the 24 month-runway will get the project to the point of completing its auto-battler, starting the rework of Overworld, and attempting to keep the community engaged, according to the restructuring statement.

"This is step one in the rebuild. Now we have the runway, and it will continue to be extended," Warwick said on X. "Enormous updates are coming mid-next month: Auto drone runs, multiplayer servers, and leaderboards reactivated."

"28-3 down with two minutes to go in the third quarter," he added, comparing the project to a losing team in a football game. "We're about to run this shit back so hard."

Edited by Andrew Hayward

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Frax Share (FXS) is the first tiered algorithmic stablecoin protocol. It is open-source, entirely on-chain, and implemented on Ethereum. The aim of the Frax protocol is to provide a scalable, decentralized, and algorithmic currency as an alternative to fixed-supply digital assets like Bitcoin.

Frax Share Coin represents a new paradigm in stablecoin design. It uniquely combines established concepts within its protocol:

Tiered Algorithm: FXS Coin is the first and only stablecoin whose supply is supported by a collateral and supply algorithm. The collateral and algorithmic rate allows the market to price Frax Share. If the FXS Coin trades above one dollar, the protocol lowers the collateral rate, while if it trades below one dollar, the protocol increases the collateral rate.Decentralized or Minimized Control Mechanism: Frax Share (FXS) is managed by the community. The control mechanism is minimized, emphasizing an algorithmic structure.On-chain Oracles: Frax v1 utilizes Uniswap and Chainlink oracles.Swap-Based Monetary Policy: FXS employs principles of automated market makers like Uniswap to create real-time stabilization through swap-based price discovery and arbitrage.Frax Share is an algorithmically steered global currency. FXS has a mechanism that eliminates the need for a central bank. Users can buy and sell Frax worldwide without fear of privacy breaches, regulatory interventions, and price manipulations.

Where to Buy FXS Coin?FXS Coin can be securely purchased and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. FXS Coin is traded on the Binance interface in FXS/BTC and FXS/BUSD pairs.

To purchase Frax Share Coin, one must first register on the Binance exchange and send fiat or cryptocurrency to the account wallet. Then, Bitcoin or BUSD must be purchased with the deposited cryptocurrency or fiat currency. Following this transaction, an order can be placed in the order book by selecting one of the FXS/BTC or FXS/BUSD trading pairs and specifying the amount. As of this writing, FXS is trading at approximately $5.46.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ethereum 2.0 testnet reaches nearly 20,000 validators in just two days

Add ZyCrypto News On Google

The Ethereum testnet got a resounding welcome after netting close to 20,000 validators within just two days of its launch on April 18. The number of validators surged soon after the genesis block was successfully mined, triggering an interest in the new network.

The fanfare around the Ethereum 2.0 testnet launch is driven by its game-changing capabilities on the second-largest cryptocurrency in terms of market capitalization. The new development officially known as Ethereum Topaz testnet is created by Prysmatic Labs, an engineering team focused on creating a new blockchain architecture for Ethereum. The Topaz infrastructure will replace the existing Sapphire test network.

The Topaz testnet is a major step forwards for Ethereum as the network aims to shift from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) protocol. This change will see miners move from a system that requires validation of blocks through complex mathematical computaions to a more energy efficient system. 

Under Topaz PoS model, miners will comprise ordinary users that stake their Ether (ETH) to facilitate the verification of transactions and validation of new blocks. As such, the miner rewards will be assigned to the stakeholders rather than miners with powerful computing required under the PoW model. The Topaz model will also improve decentralization as users are required to only stake at least 32 ETH to become validators when the mainnet goes live.

Provisional mainnet launch set for July 2020 The successful launch of the Ethereum testnet has opened doors for the mainnet that is conditionally scheduled for July this year. The shift to the PoS model is expected to occur in six stages once the Topaz testnet is deemed successful. Various changes will be rolled out in each phase to ensure a smooth transition of the Ethereum 2.0 upgrade. 

 

Ethereum cofounder, Vitalik Butterin tweeted news of the new testnet launch while indicating that the Topaz network could be the much anticipated Multiclient Testnet that will usher in a new era for the blockchain. 

Mainnet-configuration eth2 testnet.

Note that this is likely not quite yet "THE Multiclient Testnet™", as we are likely going to do one or two restarts soon to have more chances to test the genesis mechanism. But still, huge progress and excellent work by @prylabs https://t.co/EmUNnOoL6Q

— vitalik.eth (@VitalikButerin) April 14, 2020 These plans seem on course for the July mainnet launch date as interest is growing fast. At the time of writing, Etherscan data shows that there are 18,779 active validators. The testnet activity is quite high showing signs of the things to come under a new PoS model. Now, all that remains is ironing out the finer details in anticipation of the official Ethereum 2.0 mainnet upgrade.

China’s Linklogis Partners XRPL, Philippines Blockchain Budget and More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As of September 18, the broader crypto market has risen a percent as major cryptocurrencies like Bitcoin and Ethereum featured their return to pre-September levels. This bullishness bled to the altcoin market, prompting many tokens to follow the trend. Nervos (CKB) is one of those tokens that experienced astonishing growth with a 120% uptick, outperforming the broader market. 

Although CKB’s gains in the short term have been great, the long-term implications of such price movements are still important for investors and traders. The market’s current bullishness might continue for the broader community, but CKB’s performance long-term might be in question. 

Nervos: Breakthrough Halted By Resistance  The token has gained control of the $0.015 support level for an attempted breakthrough on the $0.0198 resistance. However, the latter has held its ground against the bulls in the short term, potentially putting the gains made in the past few days in jeopardy. 

CKB’s position in the short term is threatened by this rejection as the token’s trajectory might push CKB well below its $0.015 support level. If this occurs, it will represent a sudden flip in the short-term outlook of investors and traders. 

The relative strength index (RSI) gives a clue as to where the token is heading. As of writing, the RSI points to a majority bull market for CKB, pushing the narrative that the token will continue upward. It also shows that the momentum of CKB’s market is on the side of the bulls. 

CKBUSDC trading at $0.017 on the daily chart: TradingView.com If the token continues to get rejected by this crucial resistance level, the token’s momentum will eventually side with the bears flipping gains to losses. Once this occurs, CKB’s trajectory will touchdown on $0.0114 in the short term. 

Nervos Network (CKB) Market Support

✅ Supported Market: KRW, BTC, USDT Market
📅 Trading opens at: 2024-09-13 17:00 KST (estimated time)

🔗 Discover more:https://t.co/Zys7A2zGTj#Upbit #CKB pic.twitter.com/V6vdR8CVG8

— Upbit Korea (@Official_Upbit) September 13, 2024

Upbit Lists CKB Trading Pairs And Other Developments This Week Upbit’s official X accounts have announced this week that CKB is now supported on the trading platform. The South Korean crypto exchange lists three CKB trading pairs, namely CKB/KRW, CKB/BTC, and CKB/USDT, upping the liquidity of the token in the long run. This will lead to bigger exposure to the Korean market.

Digital assets on Nervos, through the imagiNation.market, are given new life as the latter is now listed on JoyID, a crypto wallet provider on Bitcoin. Although digital collectibles activity on Nervos is quite low, we can expect this development to contribute positively in the coming days or weeks. 

With the market’s general bullishness, we can expect the token to perform well in the short term even if it might face retracements in the coming days.

Featured image from Facts.net, chart from TradingView

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Table of contents

DAXA issues a caution notice for Nervos (CKB) after a bridge hack in its ecosystem. South Korea records its first corporate crypto trade by World Vision via Upbit. New FSC guidelines enable nonprofit crypto transactions starting June 1, 2025. Nervos Network (CKB) has come under increased regulatory scrutiny in South Korea following a recent security incident. On June 2, 2025, the Digital Asset eXchange Alliance (DAXA), an association of licensed digital asset exchanges in the country, issued a cautionary alert concerning CKB.

너보스(CKB) 유의 촉구 안내
너보스(CKB)는 디지털 자산 거래소 공동협의체(DAXA)에 의하여 유의 촉구되었습니다.

Nervos Network(CKB) Precaution Notice
CKB have been flagged with a precautionary alert by the Digital Asset eXchange Alliance (DAXA).

🔗 Discover more:…

— Upbit Korea (@Official_Upbit) June 2, 2025 The move follows confirmation that assets within the Nervos ecosystem were compromised through a bridge hack. The alert, disclosed by DAXA member exchange Upbit, is part of broader investor protection measures in the event of security risks or market anomalies tied to listed digital assets.

The caution notice allows DAXA member exchanges to take further action if necessary. These include marking the asset as a trading caution item or, in more severe cases, terminating trading support entirely. DAXA stated that such steps are designed to minimize risks to investors and maintain market integrity. As part of its mandate, the alliance continues to review digital assets supported by its members and monitors for any developments that may require swift intervention.

Nervos Bridge Compromise Sparks Regulatory Review According to the official statement, the breach occurred within a bridge linking Nervos to other blockchain networks. The exact scale of the compromise has not been disclosed, but the incident prompted immediate review procedures by DAXA exchanges. The organization did not confirm whether trading restrictions would follow, but emphasized that user protection is a priority.

This is not the first time that a bridge hack has led to heightened regulatory concern. Blockchain bridges, which allow the transfer of assets between different blockchain platforms, have become critical infrastructure but remain high-risk points of vulnerability. DAXA reiterated its commitment to providing timely information and implementing appropriate countermeasures when digital asset security is compromised.

Institutional Crypto Activity Begins in South Korea The Nervos alert was discussed just one day after South Korea experienced significant progress in institutional crypto. On June 1, 2025, a domestic firm successfully executed the country’s first deal involving virtual assets under the new rules. World Vision International made an Ethereum transaction totaling 0.55 Ethereum and worth 1.98 million won (around $1,431). The purchase was processed using a corporate account connected to K Bank.

This follows a policy update by the Financial Services Commission (FSC) and related agencies earlier this year. In February 2025, authorities outlined a roadmap that permits qualified non-profit entities to conduct cryptocurrency transactions for cash starting June 1. The regulatory adjustment is intended to create a formal entry point for institutional participation in the digital asset market.

Dunamu, which runs Upbit, said the deal was completed and noted this is a key first step for welcoming legitimate groups into the regulated crypto world. The company declared that it will continue working to be ready for listed corporations and professional investors, as stated by Korean law.

AUTHOR

Peter Mwangi is an accomplished crypto news writer with over three years of experience. He is recognized for producing insightful, well-researched content across major crypto publications. As an expert in blockchain technology, digital assets, and decentralized finance, he can uniquely simplify complex topics into engaging, accessible narratives. His strong storytelling and analytical skills, combined with a passion for continuous learning and collaboration, make him a valuable asset to the BlockchainReporter team.

Nervos Network's Force Bridge, a cross-chain bridge facilitating transfers between Ethereum and Binance Smart Chain (BNB), has been exploited in a cyberattack resulting in the theft of approximately $3

Nervos Network's Force Bridge, a cross-chain bridge facilitating transfers between Ethereum and Binance Smart Chain (BNB), has been exploited in a cyberattack resulting in the theft of approximately $3.9 million in cryptocurrency.

Security analysts and blockchain security firm HashEx identified the hack as stemming from an access control failure in the bridge's system. Reports indicate that a failed exploit attempt occurred about six hours prior to the successful breach. The incident highlights ongoing vulnerabilities in cross-chain bridge technologies used in decentralized finance.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

11/20 update below. This post was originally published on November 19

Bitcoin, ethereum and smaller cryptocurrencies have plunged over the last month as crash fears suddenly sweep through the market.

Sign up now for CryptoCodex—A free crypto newsletter that will get you ahead of the market

The bitcoin price has dropped under $100,000 per bitcoin, giving up the psychological level and dragging ethereum and other major cryptocurrencies lower even as analysts claim the liquidity “flood gates” have been opened.

Now, as traders brace for a potential $1 trillion bitcoin and crypto market crash, the threat to crypto from quantum computers has led to ethereum cofounder and the project’s spiritual leader Vitalik Buterin warning elliptic curve cryptography could break before the next U.S. presidential election in 2028.

Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run

Forbes‘Flood Gates Are Now Being Opened’—Bitcoin Braced For Trump ‘Tsunami’ As He Promises 2026 Price Game-ChangerBy Billy Bambrough

MORE FOR YOU

Vitalik Buterin, a cofounder of ethereum, the second-largest cryptocurrency after bitcoin, has issued a stark warning over ethereum's future.

AFP via Getty Images

“Elliptic curves are going to die,” Buterin warned, referring to one of the foundational pillars of bitcoin, ethereum and crypto encryption, during the Buenos Aires Devconnect conference in comments reported by DL News.

11/20 update: Ethereum cofounder Vitalik Buterin has also warned that the growing influence of Wall Street giant BlackRock over cryptocurrencies including bitcoin and ethereum could cause problems for the networks.

“How do you avoid capture by big behemoths like BlackRock?” Buterin was asked on stage, according to a DL News report, referring to a surge of institutional interest after the launch of BlackRock’s bitcoin and ethereum exchange-traded funds (ETFs) in early 2024.

Buterin warned that if BlackRock and other large institutions keep expanding their ethereum holdings, the network faces the possibility that those focused on decentralization get crowded out and base-layer choices are optimized for institutions, making it harder for regular users to run nodes, and in turn driving centralization.

“It easily drives other people away,” Buterin said. “We need to focus on the things that would otherwise be in short supply: global, permissionless, and censorship-resistant protocol."

This week, BlackRock registered a staked ethereum fund in Delaware, signaling its intent to enter the staked ether ETF market, while its flagship ethereum ETF now holds $10 billion worth of ethereum.

Last month, Google claimed a breakthrough in quantum computing, following in Microsoft’s footsteps after it unveiled a new quantum-enabling chip in February.

These and similar developments have catapulted quantum computing’s risk to bitcoin, ethereum and crypto up the agenda.

“Given the current staggering rate of hardware progress, I now think it’s a live possibility that we’ll have a fault-tolerant quantum computer running Shor’s algorithm before the next U.S. presidential election,” quantum computer researcher Scott Aaronson wrote in blog post this month, referring to how a quantum computer could break the encryption that underpins cryptocurrencies like bitcoin and ethereum.

The “magnitude of the threat that quantum poses to all blockchains,” has given crypto investor Nic Carter “an urgent sensation like I have to act on it now with as much intensity as I can muster,” he posted to X.

Sign up now for CryptoCodex—A free crypto newsletter that will get you ahead of the market

ForbesJPMorgan Just Called The Bitcoin Price Bottom—Predicts Massive $28.3 Trillion Gold Challenge In 2026By Billy Bambrough

The bitcoin price has dropped sharply over the last month, dragging down ethereum and other major cryptocurrenices.

Forbes Digital Assets

"We don’t need to panic, but we need to get serious," Alex Pruden, the chief executive of quantum computing risk company Project 11 posted to X, adding that “quantum computers at sufficient scale will break crypto at the most fundamental level imaginable.”

Meanwhile, bitcoin developers have also been warned they need to prepare for the post-quantum world that could become a reality by 2030.

“You should have a few good years ahead of you but I wouldn’t hold my bitcoin,” Théau Peronnin, the chief executive of Alice & Bob, told Fortune during the Web Summit conference in Lisbon, Portugal.

“They need to fork [move to a stronger blockchain] by 2030, basically," Peronnin said. "Quantum computers will be ready to be a threat a bit later than that."

The Ethereum (ETH) price is trading with a bullish bias, holding well above the support provided by a longstanding ascending trendline.

While a critical resistance holds on the 4-hour timeframe, positive ETH ETF flows on Monday inspire hope.

Over $5 Million Ethereum ETF Inflows on Monday Fuels ETH Price SurgeThe Ethereum price continues to show strength, at least on the 4-hour timeframe, drawing tailwinds from over $5 million in ETF inflows on Monday.

Data on SoSoValue shows that on January 12, spot Ethereum ETFs reported a total net inflow of $5.042 million. With this, they effectively ended a 3-day net outflow streak.

Ethereum ETF Flows. Source: SoSoValueAmidst the positive flows, however, BlackRock’s ETHA ETF bled $79.9 million, marking the only outflows on Monday as Fidelity, Bitwise, VanEck, Invesco, and Franklin Templeton posted zero flows.

Conversely, 21Shares recorded $5 million in positive flows, alongside Grayscale’s $50.7 million and $29.3 million inflows from its ETHE and ETH investment products, respectively.

As of January 12, the cumulative total net inflows into Ethereum ETFs was $12.44 billion, with up to $940.66 million in total value traded and $18.88 billion in total net assets. Notably, the total net assets account for over 5% of Ethereum’s market capitalization.

Elsewhere, Bitcoin spot ETFs saw a total net inflow of $117 million, marking a shift from four consecutive days of net outflows. Meanwhile, Solana spot ETFs recorded a total net inflow of $10.67 million, while XRP spot ETFs saw a total net inflow of $15.04 million.

Ethereum Price Outlook After $5.04 Million Monday InflowsWith the Ethereum price holding well above the multi-week support offered by the ascending trendline, the dominant trend remains bullish.

With the RSI (Relative Strength Index) rising, momentum is increasing, and if sustained, the ETH price could potentially realize further gains. However, the RSI position around the 50 level leaves a lot on the balance, with price action susceptible to bearish takeover.

However, its overall trajectory and position above 50 means the bulls have the upper hand, a sentiment that could be enhanced if Tuesday’s flows also come in positive for ETH ETFs.

Traders looking to take long positions for the Ethereum price, therefore, should wait for a decisive candlestick close above the $3,150 resistance level. This can be confirmed by a successful retest of that level, where price breaks above it, retests it, and manages to still hold above it on the 4-hour timeframe.

Such a move could see the Ethereum price target the $3,223 to $3,296 supply zone next, a bearish order block that stands in Ethereum’s path toward reclaiming its peak prices.

Ethereum (ETH) Price Performance. Source: TradingViewConversely, with the Ethereum price confronting immediate resistance at $3,150, the volume profiles show significant opposing forces at current price levels around $3,134. This is evident in the large nodes of bullish (green horizontal bars) and bearish (red) volume profiles on the chart.

However, with more bearish nodes and bullish nodes, the Ethereum price could pull back, which would be accentuated by negative ETH ETF flows on Tuesday.

In the event of a correction, the bullish thesis for the Ethereum price would be invalidated if the support due to the ascending trendline breaks, which could see ETH retest the $3,058 levels last seen on January 9.

While Ethereum (ETH) and XRP Exchange-Traded Funds (ETFs) ended March in negative territory, Bitcoin (BTC) funds recorded their best monthly performance of the year despite weak market sentiment and geopolitical tensions.

Bitcoin ETFs End Negative Spell Bitcoin ended the first quarter of 2026 by breaking out of a five-month negative streak, closing with a positive performance for the first time since September 2025. The flagship crypto has been in a downtrend over the past six months, retracing over 50% from its October all-time high of $126,000.

As its price closes the month in green, US spot BTC-based ETFs have also ended a multi-month negative spell on Tuesday. According to SoSoValue data, the funds pulled in $1.32 billion in March, registering their first monthly gain in 2026.

Bitcoin ETFs end five-month outflows streak. Source: SoSoValue The category has been registering outflows since November, with cumulative outflows of around $6.3 billion until February. Nate Geraci, co-founder of the ETF Institute, previously highlighted that spot Bitcoin ETF investors have “largely displayed diamond hands” despite the ongoing market correction and negative sentiment.

As reported by NewsBTC, Geraci argued that the funds’ cumulative outflows since the October 10 crash were insignificant compared to the $56 billion in cumulative total net inflows the category has experienced since its January 2024 debut.

Despite the positive monthly close, BTC ETFs ended a four-week inflow streak after investors pulled out $296.18 million from the investment products. Additionally, the funds ended Q1 on a negative note, as March inflows couldn’t offset the $1.81 billion redemptions from January and February.

Therefore, spot Bitcoin ETFs closed the first quarter of 2026 with $496 million in outflows, their second-worst quarterly performance after Q4 2025’s $1.15 billion cumulative outflows.

Solana Leads Altcoin ETFs Performance Similar to Bitcoin, Solana (SOL) ETFs closed March on a positive note and led altcoin-based funds, with inflows worth $45.44 million. This performance brought SOL investment products’ quarterly inflows to $213.1 million.

Notably, the category has not seen monthly outflows since its launch in October 2025, printing six consecutive months of inflows. Following this performance, Solana ETFs are near the $1 billion milestone, currently having cumulative net inflows of $979.3 million.

Nonetheless, Ethereum funds tell a different story, closing the month with $46 million in outflows. Unlike Bitcoin, the second-largest cryptocurrency extended its negative streak to five months, recording total outflows worth $3.21 billion since November.

In addition, ETH investment products saw $769 million outflows in Q1. CoinShares recent report noted that Ethereum led all assets in outflows last week, shedding over $200 million for the second straight week, which may signal that institutional demand for the second-largest cryptocurrency has been slowing.

Meanwhile, XRP funds recorded their first monthly outflows after investors pulled $31.3 million from the ETFs. The category has recorded a remarkable performance since launching in November, with over $1.24 billion in inflows in the first four months.

It’s worth noting that despite the March setback, XRP ETFs saw positive net flows worth $42.52 million during the first quarter of 2026, only behind Solana funds.

Bitcoin trades at $68,523 on the one-week chart. Source: BTCCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

Hero.io: A 2024 Guide to the AI-Powered Web3 Platform

Leading cryptocurrencies rose alongside stocks on Monday as investors embraced a risk-on mood following the declaration of a peace deal with Iran.

Crypto Market Gains MomentumBitcoin extended gains, rising to an intraday high of $67,248 as trading volume jumped 40% over the last 24 hours. Ethereum topped $1.800 while XRP was up 4.5% from the previous day.

Over $480 million was liquidated from the market in the last 24 hours, predominantly in short bets, according to Coinglass data. Notably, more than $300 million in Bitcoin short positions were at risk of liquidation if the apex cryptocurrency rose to $70,000.

Meanwhile, Bitcoin's open interest rose 2.06% in the last 24 hours, suggesting an influx of new money into the futures market.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.27 trillion, following an increase of 1.59% over the last 24 hours.

Stocks Enter Record TerritoryThe stock market started the new trading week on a high. The S&P 500 climbed 1.65% to 7,554.29,  while the tech-heavy Nasdaq Composite surged 3.07% to close at 26,683.94. The Dow Jones Industrial Average gained 468.77 points, or 0.92%, for a record close of 51,671.03.  

The rally followed President Donald Trump's declaration that the peace deal with Iran is "complete" and that the Strait of Hormuz is open for normal traffic. The deal is due to be signed in Switzerland on June 19. 

Pullback: A Long-Term Buying Opportunity?Widely followed cryptocurrency analyst and trader Michaël van de Poppe said that Bitcoin has entered a zone where one'd want to be accumulating positions "over a longer period."

"It doesn’t mean we’ll be bottoming out here, but we’re at least close, and the ROI of buying here has historically been incredible," the analyst said. "That’s primarily why I’m not selling positions and instead want to stick with them as a whole."

On-chain analytics firm Santiment said the latest rally seems to be driven "as much by expectations as by current fundamentals."

"If inflation pressures ease and institutional investors finally begin feeling more comfortable themselves, the sharp gains following this announcement may end up looking less like a one-day relief rally and more like the opening chapter of a much larger bull cycle," the research firm added.

Photo Courtesy: Sodel Vladyslav on Shutterstock.com

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Ink Upgrades to OP Enterprise Fully Managed Service and Signs Multi-Year Partnership

Inside Q1 2024s Largest Hack: Playdapp’s $290 Devastating Million Exploit

Power Ledger (POWR) is a project that has seen quite a bit of interest lately. This has resulted in increased demand and trading for its POWR token.

The project was one of the first to introduce blockchain based P2P power trading. They want to not only decentralise the process but also democratize it and give users a platform to sell their excess electricity. It also aims to optimise trading and eliminate waste that comes from centralised grids and providers.

Ambitious goals, but can it realistically achieve it?

In this Power Ledger Review I will attempt to answer that. I will also take a look at the long term use cases and adoption potential of the POWR token.

What is Power Ledger?Power Ledger was the very first ICO conducted in Australia, and as a blockchain company it is somewhat unique in being non-financial in the field of financial blockchain projects.

Power Ledger has a goal of decentralizing the renewable energy markets and placing it into the hands of the users, and out of the control of centralized energy companies.

Key Areas of Focus for Power Ledger. Image via Website

Power Ledger wants to make it possible for the end user to buy renewable energy, as well as selling their own unused renewable energy, by using the Ethereum blockchain to record energy consumption, usage, and creation.

When you consider the shift to renewable energies such as solar by industry, business, and residential users it seems common sense to have a system in place that allows these new renewable energy systems to sell their excess power back into the grid rather than simply letting it go to waste.

It’s an ambitious idea, but when you consider the vast usage of energy across the globe, could Power Ledger represent a new gold rush? Could this be a project that will become as valuable as the original coal, oil, gas, and nuclear power industries have become?

Let’s take a deeper look into Power Ledger and see the potential it has for the future.

Overview of Power LedgerPower Ledger token holders are empowered to sell their surplus renewable energy through Power Ledger’s blockchain based platform. It’s possible to transmit this privately generated energy through the existing electricity distribution networks, or through micro-grids created on the Power Ledger platform.

The platform is empowering for consumers because it allows them to manage their own energy production, usage, and distribution. This is something novel in today’s world, allowing consumers to also become producers and distributors of energy products.

Overview of Decentralised Electricity Market

Power Ledger facilitates the sale and trading of energy, and consumers can receive payments for their excess renewable energy production in real-time through the decentralized, trustless, automated, and totally secure Power Ledger platform.

Buyers are able to choose only clean, green energy sources, and both buyers and sellers leverage blockchain technology. This means settlement costs are significantly lower than in the traditional energy markets, and translates to significantly higher returns for consumers who choose to invest in renewable energy.

There are a number of applications already running on Power Ledger, with more planned for the future. Current applications allow for micro-transactions, data acquisition, grid management, power metering, and more.

Key Applications on Power LedgerThe Power Ledger platform has been designed to handle most aspects of renewable energy transfer, including such things as carbon trading and market price management. Below are the current six applications that have been developed and released for PowerLedger.

xGridThe xGrid application allows individuals to sell the energy they generate from their own solar panels to other households on the electricity grid.

In the 21st century consumers are increasingly aware of, and concerned with, their impact on the environment. Many are now aware of their carbon footprint and are seeking ways to reduce it, but not everyone has the money or the space to install solar panels.

xGrid Solving the Current Market Challenges

Power Ledger believes everyone should have access to low cost renewable energy sources, and the peer-to-peer trading capabilities of the xGrid application makes that possible. As an added benefit is also ensures that the investment value of installed solar panels remains in the community where that investment is made.

With xGrid it’s possible for users to sell their excess electricity to their neighbors. This also allows electric companies to add new consumers and prosumers to their roles. If the prosumer also has batteries to store energy they can help the energy retailer manage price risk through the Power Ledger VPP 2.0 product we will discuss later.

µGridWhere xGrid works for residential users, µGrid is meant for larger applications, such as shopping centers or apartment buildings. It allows these spaces to monetize their roof space, or allows the tenants to take control of their energy supply.

One barrier to installing solar in larger complexes such as apartment buildings has been convincing all the tenants to share the cost of installing solar panels. It’s just been too difficult to find a way to make sure everyone is being equally compensated in such a situation.

How µGrid addressees challenges

Now Power Ledger has made it possible to install solar in commercial spaces and monetize the often large rooftop spaces. Tenants and residents can use their share of the energy produced, or they can sell it, often to those who are closest to them. This keeps all the investment and proceeds from the renewable energy right within the same community.

This even benefits the building developers and managers because they can offer tenants more attractive energy rates compared with the traditional energy companies. And the detailed usage statistics allows building managers to track usage at a granular level, allowing for better energy efficiency in common areas and across the entire community.

VPP 2.0The VPP 2.0 application allows those renewable energy producers with batteries to sell the stored electricity during peak demand periods to achieve the best returns of their investment. It also helps to solve the demand shortages and price spikes that are so common within the electricity delivery industry.

VPP 2.0 And its Solutions

In the current system energy companies can offer incentives ahead of time when they anticipate demand will spike, but there’s been no way to account for the energy contribution that customers might be likely to make.

With the Power Ledger VPP 2.0 application it’s now possible for energy companies to track the contributions being made by customers in near real-time. This provides energy companies with readily available capacity and energy when they need it, and provides returns to customers more quickly.

PPA VisionPPA Vision is Power Ledger’s energy data management and settlement system for energy asset owners and operators, It provides greater visibility for energy that’s sold on the spot market or to offtakers.

With PPA Vision members in a Power Purchase Agreement can receive billing and settlement functionality for energy generated and sold to offtakers or on the wholesale energy market, as well as measurement tools.

The PPA Vision application was designed specifically for co-located renewable energy assets and PPA supply arrangements.

Data collected from onsite metering is then presented in an accessible dashboard with the following features:

Matching of coincidental generation and consumption.Showing energy transactions between buyers and sellers.Simple and in-depth analysis of the usage and transaction data by both parties.Settlements for the energy supplied from the generator to the offtaker.Reports to individual consumers of their energy transactions.Remittance of any energy sold to the wholesale market.In traditional metering and billing systems inaccuracies often exist, especially when multiple power providers are in the mix. This leads to delayed payments to power producers, and possibly even a loss of revenue.

C6The C6 application is used in the verification, reporting and measuring of carbon credits and renewable energy credits. It is blockchain based, and integrates with outside data management systems and smart meters to provide crucial information regarding carbon and renewable energy credits.

C6 can generate reports for small electric vehicle infrastructure trying to track carbon credits, or it can let a massive petrochemical plant know how many carbon credits they need to purchase.

C6 Features and Use Cases

C6 also makes it a simple task for owners of wind and solar farms to track their carbon credits, as well as monitoring and obtaining carbon and renewable energy credits. The carbon credit reporting procedures are complex, but C6 automates much of the work, reducing the time and effort spent in producing paperwork and reconciling data.

C6 has also been seamlessly integrated with C6+ to create an end-to-end system for the carbon and renewable energy credit ecosystem.

C6+C6+ also resides on the blockchain and it creates a digital exchange and marketplace for renewable energy credits and carbon credits. It does this by tokenizing credits which allows for the transfer and sale of carbon credits and renewable energy credits in a decentralized marketplace.

In the U.S. alone a majority of stats require electric companies to supply a portion of their electricity from renewable sources. Many electricity companies simply purchase Renewable Energy Certificates (RECs) to meet these requirements. As countries around the world begin to implement programs to meet their Paris Accord targets the demand for RECs will increase dramatically.

So far most of these REC programs are paper-based and broker-driven, but Power Ledger hopes to change that by allowing RECs to be traded on an intuitive digital exchange.

Major Product Features of C6 Plus

Most have been excluded from the carbon credit and renewable energy markets due to a lack of transparency and extreme complexity. This has led to the concentration of power in the hands of a few large players and brokers. C6+ will give energy players a new paradigm that is composed of transparency, efficiency, and relative simplicity.

Buyers will be able to log into the platform and easily begin buying, and sellers will be able to log in and easily begin selling. The platform itself will handle all the details and complexity behind the scenes.

Even more importantly for those involved in the energy markets will be a drop in costs. Sellers of renewable energy and carbon credits will face lower transaction costs and faster sales, while buyers will get better pricing in a fair and open marketplace.

What are POWR Tokens?Access and permissions on the Power Ledger platform are controlled by POWR tokens. They can be used for trading on the platform, but they also have real world uses.

Those hosting applications on the Power Ledger platform are required to purchase and hold a minimum number of POWR tokens to allow their users to interact in the marketplace.

All transactions are conducted in a deregulated and decentralized marketplace, without the need for third-party intermediaries. This is one of the top reasons for using blockchain technology and tokens in a marketplace system.

ERC20 POWR Tokens on Etherscan

The market’s customers can also convert their POWR tokens to Sparkz tokens from within the platform. No intermediary is needed for this, which keeps the applications working without any outside interference.

POWR tokens are similar to a software license in that they grant access to the platform and its features. They are also valid anywhere in the world, which will encourage wider participation in the Power Ledger ecosystem.

Sparkz and Smart BondsAll that is required to have access to the smart bond functionality is possession of POWR tokens. In addition to the initial tokens acquired to host an application, the application hosts also receive additional tokens from a growth pool as an incentive to spread the usage of their application, and to create new applications. All the POWR tokens can be held as surety for Sparkz.

The POWR tokens are kept in an Ethereum smart bond contract that was designed specifically for Sparkz. These Sparkz are the internal currency used for the Power Ledger platform and are the medium of exchange for buying and selling energy on Power Ledger.

Once they are done using Sparkz they can unlock their POWR by returning the Sparkz to the smart bond contract.

The Power Ledger team has been referred to as remarkable. It was co-founded by Dr. Jemma Green, Dr. Govert Van Ek, John Bulich, and David Martin. These four co-founders have extensive experience in renewable and sustainable energy, blockchain technology, and risk management.

Dr. Green remains the Chairman of Power Ledger, guiding it in accordance with the vision initially set when the company was launched in 2016. She spent a decade with JPMorgan Chase, following which she completed her Ph.D in Electricity Market Disruption.

The Power Ledger Team. Image via Power Ledger

John Bulich is the technical director of the project and provides strategic direction for the project. He was a co-founder of Power Ledger and a pioneer in Australia’s blockchain scene.

The founders of Power Ledger created the company with a hope that they could facilitate increased green energy production and usage through blockchain technology.

It's also worth mentioning Bill Tai recently joined their advisory board. A venture capitalist since 1991, Bill Tai has served on the advisory boards of 7 publicly listed companies where he joined in the initial stages and helped guide the companies to where they are today.

Power Ledger PartnershipsPower Ledger is engaged in partnerships with international energy companies and government around the world, including a number in Australia and Japan. They have also begun trials in the U.S., in Thailand, Italy, India and Malaysia.

Power Ledger Project Distribution and Footprint

In Australia they are working with Australian National Energy Market retailer Powerclub, and have inked a deal with EPC Solar Canberra. They are also involved in a peer-to-peer solar energy trading project in the Kanto region of Japan, and have recently entered a trial to bring a blockchain based REC marketplace to the Midwestern U.S.

Other recent developments include an agreement with Thailand’s largest renewable energy developer BCPG to bring the Power Ledger technology to Thailand. They are also trialing a peer-to-peer solar energy trading marketplace in Malaysia.

POWR PerformancePower Ledger held their ICO in September/October 2017, raising $13.2 million and selling 350 million POWR tokens for $0.0838 each. The token began trading on November 1, 2017 at a price of $0.052671, which must have been disappointing for early investors.

They didn’t remain disappointed however since the ICO occurred just before the parabolic rise of the cryptocurrency markets in December 2017. POWR rose along with the broader market, hitting an all-time high of $2.01 on January 4, 2018.

POWR Price Performance. Image via CoinMarketCap

It also followed the broader market lower in the cryptowinter of 2018, and nearly two years later on December 18, 2019 it hit its all-time low of $0.034268.

2020 has been kinder to the POWR token as it began the year with a gradual move higher from its start at $0.035, and then in February it exploded to a high of $0.128305 in mid-February. It has since pulled off those highs and as of late February 2020 trades at $0.086, which is roughly where it began at its ICO.

Trading & Storing POWRWhen it comes to the markets for POWR, it has pretty broad exchange support. Your best bet for trading the token is perhaps Binance that has pretty strong Bitcoin order books. However, there are also pretty well established markets on BitHumb and Upbit.

Register at Binance and Buy POWR Tokens

In terms of volume and liquidity, it is well spread out across these exchanges. This bodes well for the price discovery of the token as it means that traders are able to quickly and effectively arbitrage out any sort of mispricings. It also means that they can trade with large block orders without too much slippage.

For storage, given that POWR is an ERC20 token you should not have too much difficulty. You can use any wallet that will support Ethereum such as MyEtherWallet, Metamask etc. Although, your best bet is probably to get your hands on a hardware device like a ledger or a Trezor.

Power Ledger vs Grid+ vs WePowerGrid+ is similar to Power Ledger, although there are some key difference. On the similarity side both are blockchain based, and both allow consumers to buy renewable energy directly. Both utilize a token based system.

Power Ledger Compared to Others

On the differences, Power Ledger is P2P focused, while Grid+ offers wholesale sales and pockets the profits. Grid+ has its own hardware for figuring out energy pricing, while Power Ledger uses local metering. Grid+ is relatively new, and Power Ledger has been around since 2016.

WePower and Power Ledger are pretty similar in that they both allow for selling solar energy, they’re both blockchain based, and they both use tokens. Power Ledger uses a straight-forward P2P selling setup, while WePower uses an auction based system. Power Ledger and WePower have both developed global partnerships.

ConclusionPower Ledger has an admirable vision in looking to improve the energy sector by making renewable energy cheaper and more easily accessible. The system they’ve developed could eventually see even those in large developments obtaining electricity from local providers working on micro-grids and PAAs.

Since its beginnings in 2016 Power Ledger has been continually developing new services, and improving their existing services, which is exactly what we like to see from blockchain projects.

As the platform gains in adoption it becomes more likely that it will disrupt the entire energy production and distribution system. That could drive down prices for consumers dramatically given the current state of electricity generation and distribution. The growing adoption also makes people begin to change the way they view the means for purchasing and consuming energy.

If Power Ledger has its way renewable energy sources will become far more feasible and widespread in usage, which is something that can only be good for the world.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Everything To Know About Blockchain Innovations in the Energy Sector

This week in the crypto market, Bitcoin’s price surpassed $68,000, and the market capitalization returned to over $2.28 trillion.

BeInCrypto noted special investor interest in events such as Grayscale’s review of 35 altcoins for potential investment products and investors’ expectations of an altcoin season ahead of the US elections.

Additionally, Miles Deutscher has suggested several altcoins, claiming they might have a strong growth potential. The community is also paying attention to Craig Wright’s legal plans and Tesla’s Bitcoin movements.

Grayscale Unveils 35 Potential AltcoinsEarlier this week, Grayscale announced a list of 35 altcoins under consideration for future investment products. Following the announcement, many of these altcoins experienced significant price increases over the week. The top 10 altcoins on the list saw gains ranging from 13% to 49%.

Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

The Top 10 Best-Performing Altcoins of the Week are part of Grayscale’s Potential Candidates. Source: DropstabThirty of the 35 altcoins enjoyed a green week, with only Kaspa (KAS) and Helium (HNT) facing notable declines of -4% and -7.4%, respectively.

“Assets Under Consideration lists digital assets not currently included in a Grayscale investment product but identified by our team as possible candidates for inclusion in a future product,” Grayscale explained.

Additionally, Grayscale filed with the SEC to convert its Digital Large Cap Fund into an ETF, following the success of transforming Bitcoin Trust and Ethereum Trust into spot ETFs.

Miles Deutscher Highlights 4 Altcoins Investor Miles Deutscher introduced four altcoins that he believes could deliver 10x returns. These altcoins focus on GameFi, artificial intelligence (AI), Decentralized Physical Infrastructure Network (DePIN), and real-world assets (RWA) sectors, including:

SuperVerse (SUPER) Bittensor (TAO) Mantra (OM) Render (RNDR) Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Price Performance of Altcoins Suggested by Deutscher. Source: TradingViewSince his announcement, the prices of these altcoins have slightly declined, which occurred as Bitcoin Dominance reached a three-year high. Deutscher also commented on meme coins, suggesting they are at a crossroads and may face a short-term correction.

Craig Wright Plans to Sue Bitcoin CoreOn October 11, a tracker from the UK High Court revealed that Craig Wright is taking legal action against Bitcoin Core and Square.

Wright, representing himself in the case as a “direct claimant,” is seeking £911 billion ( ~$1.18 trillion) from Bitcoin Core and Square, alleging they misrepresented Bitcoin (BTC) as the true version of the digital asset created by Satoshi Nakamoto.

Additionally, Wright threatened to sue MicroStrategy CEO Michael Saylor for allegedly misrepresenting Bitcoin. The Australian computer scientist is also filing three other legal appeals in the UK, two against the Crypto Open Patent Alliance (COPA) and one targeting Peter McCormack.

Read more: Satoshi Nakamoto – Who is the Founder of Bitcoin?

Altcoin Season Ahead of US Presidential Election?Throughout the week, several crypto industry experts expressed optimism for altcoin’s price ahead of the US presidential election. Ki Young Ju, CEO of CryptoQuant, suggested that a Trump victory could spur regulatory changes that would trigger an altcoin season.

“If Trump wins, expect regulatory changes, including fee switches enabling token burns for revenue-generating projects,” Ki Young Ju said.

Technical analysts Michaël van de Poppe and CRG also predicted that the altcoin season could begin next month. Echoing these views, Crypto Rover forecasted an impending altcoin season by monitoring Bitcoin Dominance’s movements. Bitcoin Dominance (BTC.D) represents Bitcoin’s share of total market capitalization. Its adjustments often signal an altcoin rally.

Read more: Bitcoin Dominance Chart: What Is It and Why Is It Important?

Bitcoin Dominance fluctuations. Source: Crypto Rover.Tesla Moves Bitcoin Worth Up to $760 MillionThis week, Elon Musk’s Tesla unexpectedly moved nearly all of the Bitcoin it had held for the past three years to new wallet addresses. Initially, investors feared Tesla might be preparing to sell the BTC through OTC, but those concerns quickly dissipated as Bitcoin’s price remained unaffected.

“No proof it’s an OTC deal yet. Even if it was, that means someone else bought it so it’s not entirely bearish. Who knows,” Sir Doge of the Coin said.

Read more: Who Owns the Most Bitcoin in 2024?

Many now believe the move was a simple reallocation. In 2021, Musk had stated that Bitcoin payments made to Tesla would be held as Bitcoin, not converted into fiat.

Casper Network is making a big bet on where blockchain goes next. And it’s not memecoins.

At the Digital Finance Forum in Bermuda, Casper Association President and CTO Michael Steuer unveiled the “Casper Manifest,” a multi-year roadmap focused on regulated real-world assets (RWAs), AI-powered payments, and infrastructure built for institutions and machines. The roadmap includes EVM compatibility, compliant private transactions, gasless UX, smart accounts, AI micropayments, and even post-quantum signing. That’s a lot. But the bigger story is what Casper is trying to become.

Casper Wants to Make Blockchain Feel Invisible Most blockchains still feel like crypto products. Wallet popups, gas fees, and complicated onboarding remain major friction points. Casper wants to change that.

The roadmap introduces gasless transactions, batch operations, and smart accounts that support biometric authentication. The idea is simple: blockchain apps should feel like normal apps. One tap and done. Casper is also adding full EVM compatibility. Developers will be able to use Solidity, MetaMask, and existing Ethereum tooling directly on Casper without rewriting applications. That matters because Ethereum still has the largest developer ecosystem in crypto.

Privacy and Compliance Together? Usually, blockchains pick one side. Either privacy or compliance. Casper says it wants both. The network plans to support compliant security tokens using the ERC-3643 standard, which already governs billions in tokenized assets. At the same time, it’s building confidential transaction infrastructure that still allows auditors and regulators to verify compliance when needed.

That could become important as institutions move deeper into tokenized assets and onchain finance.

The roadmap also targets AI and machine-to-machine payments through support for the X402 payment standard. This would allow AI agents to pay for APIs, data, or compute resources automatically using crypto.

Casper Is Thinking Beyond Today’s Crypto Cycle One of the more interesting pieces of the roadmap is post-quantum security.

Casper plans to introduce hybrid accounts that support both traditional cryptography and quantum-resistant keys. No major smart contract platform has fully shipped this yet. The first rollout is expected within weeks with X402 micropayments. EVM compatibility and compliant security tokens are planned later in 2026, while privacy and quantum-safe infrastructure will continue through 2027.

The real question is whether institutions and developers actually adopt it. But Casper is clearly positioning itself for a future where blockchains handle tokenized assets, AI payments, and machine economies not just speculation.

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This post is sponsored by Market Across.

Copyright Altcoin Buzz Pte Ltd.

Serum City, a city-building game that utilizes NFT assets from Yuga Labs’ Mutant Ape Yacht Club and other collections, is now available to play. However, you’ll need an access pass, and only certain NFT project holders can claim one for now.

Novel Labs and Faraway have launched the game, which was first revealed last April, with the first season of gameplay available to Serum City NFT pass holders.

People who own NFTs from the Mutant Hounds, Mutant Cartel Oath, Bored Ape Yacht Club, and Mutant Ape Yacht Club collections can now claim and mint an access pass. The mint is free, though users will have to pay normal Ethereum network gas fees, as usual.

The developers previously told Decrypt’s GG that they plan to open up access over time with each new season of in-game content, gradually adding more eligible players. The aforementioned projects span approximately 39,000 individual NFTs that are currently eligible to claim passes.

Serum City is built around Ethereum NFTs and uses ApeCoin as its in-game currency. The game spotlights Mutant Ape characters, but is not developed by Bored Ape and Mutant Ape creator Yuga Labs. Rather, it’s an independent project that utilizes the decentralized commercial rights offered to owners of Yuga’s Ape NFT projects.

However, while it’s not an official Yuga project, co-developer Faraway is now working closely with Yuga Labs on its own game projects.

That includes an upcoming free-to-play version of Yuga’s Dookey Dash game that was revealed last month, along with an Otherside-themed mobile game that was teased by Yuga this week with few details. Dookey Dash: Unclogged is set to launch this quarter, while the latter game will apparently roll out in the second half of the year.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Arbitrum Crypto Drama Explodes as Nvidia Snubs Crypto: What It Means for ARB Price

Global investment firm Guggenheim Treasury Securities has issued the first Digital Commercial Paper (DCP) on Ethereum, as the tokenization of financial instruments on blockchains gains traction among traditional finance giants. 

Commercial paper is a kind of short-term debt security that corporations sell to raise funds. It differs from other debt instruments such as bonds and loans because it is unsecured and not backed by collateral. 

Amp.Fi Digital, a blockchain platform designed to issue, trade and provide governance of digital assets, issued $20 million in tokenized commercial paper for Guggenheim on Ethereum, developer Zeconomy said Thursday.

The rollout of yet another tokenized real-world asset follows U.S. federal regulators’ approval of spot Bitcoin ETFs earlier this year, a watershed event that has fueled traditional finance titans’ appetites for blockchain-based digital assets, according to Zeconomy.

Moody’s Investor Service gave Guggenheim’s issuance a rating of P-1, its highest credit rating. 

“As clearly demonstrated by the ETFs approval and the growth of the tokenization space, there is a massive demand for these digital assets, and we want to enable our partners so they can be at the forefront of what could be a transformative moment in the financial industry,”  Zeconomy CEO Giacinto Cosenza said Thursday in a statement. 

The rolling out of DCP on Ethereum marks the latest example of real-world asset tokenization on blockchains—a growing trend. Tokenized government securities such as U.S. Treasury Bills have hit more than $2 billion in market capitalization as institutional interest in the digital asset class accelerates, data from RWA.xyz shows.

In recent months, tokenized Treasury funds’ market capitalization have ballooned. BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), launched in March, holds $513 million in assets—up more than 100% since its debut, data shows.

Meanwhile, Franklin Templeton’s OnChain U.S. Government Money Fund's market capitalization (FOBXX) has soared to more than $420 million since its launch in 2021, according to the investment management firm's data.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.