Cross-chain transactions move billions of dollars every month, and until now, tracking all of that activity in one place has been roughly as easy as assembling IKEA furniture without instructions. Allium Labs just changed that.
The blockchain data firm launched its Interoperability Dashboard on June 9, built in partnership with LayerZero. The tool tracks cross-chain volume, messages sent, unique wallets, market share, and chain-to-chain flows across six major General Message Passing protocols. It’s publicly available at digital-asset-interoperability.com.
What the dashboard actually tracks The six GMP protocols covered are LayerZero, Chainlink, Hyperlane, Socket, Axelar, and Wormhole. Circle’s Cross-Chain Transfer Protocol, better known as CCTP, is also tracked separately as a standalone solution.
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The early numbers are striking. Over the 30 days leading up to launch, the dashboard recorded between $7.9B and $8.2B in GMP volume. More than 81,000 to 87,000 unique wallets participated in cross-chain activity during that same window.
LayerZero’s dominance is hard to ignore Perhaps the most eye-catching data point from the dashboard’s initial readout is LayerZero’s market share. The protocol accounted for 85.7% of all tracked GMP volume over that 30-day period.
LayerZero originally launched its mainnet in 2022 and shipped its v2 upgrade in early 2024. The remaining five protocols, Chainlink, Hyperlane, Socket, Axelar, and Wormhole, are splitting roughly 14.3% of tracked volume among them.
Why this matters beyond the data nerds Allium Labs has raised $21.5M in total funding, including a $16.5M Series A round closed in July 2024. Its data infrastructure already serves institutional clients like Visa and Uniswap.
For developers building multi-chain applications, the dashboard provides a data-driven way to choose which messaging protocol to integrate, with actual usage patterns, wallet counts, and volume flows available to inform architecture decisions.
For investors watching the interoperability narrative, the dashboard creates a new set of leading indicators worth monitoring. A sudden shift in market share between protocols could signal technology advantages, partnership wins, or security concerns before they show up in token prices. A spike in unique wallets might indicate genuine adoption rather than wash activity. And chain-to-chain flow data could reveal which Layer 1s and Layer 2s are gaining or losing mindshare in real time.
The 85.7% concentration in a single protocol means the cross-chain ecosystem has a significant single point of dependency. If LayerZero were to experience a major exploit or outage, the ripple effects across the broader interoperability landscape would be substantial, precisely because so much volume flows through one pipe.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cross-chain discussions involving XRP, Flare, and Cardano are gaining momentum.
In a post on X, Flare co-founder Hugo Philion revealed that the team is actively exploring a LayerZero Decentralized Verifier Network (DVN) to strengthen interoperability between major blockchain ecosystems.
FXRP on Cardano? Philion made the comment in response to XRP community member @xrpen15, who suggested that Flare launch an official LayerZero (LZ) DVN. According to the proposal, such infrastructure could help Cardano founder Charles Hoskinson safely bring FXRP into the Cardano ecosystem.
Responding on X, Philion said:
“Can’t comment on whether FXRP will go to Cardano, but funny you say that re the DVN. It’s certainly something we are actively exploring.”
While Philion did not confirm any plans involving FXRP on Cardano, his remarks suggest that Flare is evaluating LayerZero DVN infrastructure. DVNs are designed to verify and secure cross-chain messages between blockchain networks.
Why the Discussion Matters for XRP FXRP is Flare’s representation of XRP. It allows XRP holders to access decentralized finance (DeFi) applications beyond the XRP Ledger.
A LayerZero DVN could make cross-chain transfers more secure and efficient. It could also simplify the movement of assets such as FXRP between different blockchain ecosystems.
The proposal from @xrpen15 focused on creating a Flare-operated verifier network. Such a system could serve as a trusted bridge layer for transferring FXRP into Cardano-based applications.
The discussion highlights the potential benefits of shared infrastructure that connects multiple ecosystems rather than relying on separate interoperability solutions.
Philion Pushes for Greater Collaboration Philion’s latest comments follow remarks he made a day earlier about Cardano and its founder. In a post on X, he welcomed Hoskinson’s renewed activity in the crypto industry despite their past disagreements over interoperability strategies.
“It’s nice to see Charles Hoskinson back in the saddle,” Philion wrote.
Philion said he previously disagreed with Hoskinson over what he viewed as duplicated efforts in XRP and Bitcoin interoperability. Instead, he argued that networks could use existing assets such as FXRP and FBTC through LayerZero rather than creating separate bridging systems.
According to Philion, greater cooperation would benefit the industry as a whole. He added that the crypto ecosystem would be worse off without Hoskinson, Cardano, and Cardano’s privacy-focused sidechain project, Midnight.
It’s nice to see @IOHK_Charles back in the saddle.
I have disagreed with him in the past regarding duplication of work on XRP & BTC interoperability – my position is that networks can just use FXRP & FBTC via @LayerZero_Core .
More importantly this space would be worse off…
— Hugo Philion (@HugoPhilion) June 9, 2026
In sum, cross-chain connectivity remains a major focus as blockchain projects work to connect different networks. While Flare has not announced any plans to bring FXRP to Cardano, its exploration of LayerZero DVN technology shows ongoing interest in improving interoperability across blockchain ecosystems.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Flare co-founder Hugo Philion has confirmed that the team is exploring a LayerZero Decentralized Verifier Network.
Summary
Flare is exploring a LayerZero DVN, but Philion has not confirmed FXRP support for Cardano. A Flare-operated verifier could authenticate cross-chain messages while applications choose their required security configuration independently. FXRP already supports XRP-based lending, vaults and liquidity across Flare’s expanding decentralized finance ecosystem. His remarks followed a community proposal involving FXRP and the Cardano ecosystem. Philion did not confirm that Flare plans to bring FXRP to Cardano. The discussion remains at an early stage, with no launch date, technical plan or formal partnership announced.
Flare examines a LayerZero verifier network An XRP community member suggested that Flare create an official LayerZero DVN. The user argued that the infrastructure could support a secure route for FXRP to reach Cardano-based applications.
“Can’t comment on whether FXRP will go to Cardano,” Philion said.
He added that Flare was “actively exploring” the DVN proposal. His statement confirms work around verifier infrastructure, but it does not establish that FXRP will launch on Cardano.
Can’t comment on whether FXRP will go to Cardano but funny you say that re the DVN. It’s certainly something we are actively exploring.
— Hugo Philion (@HugoPhilion) June 9, 2026 LayerZero DVNs independently verify messages moving between supported blockchains. Applications can select the verifier networks they trust and set the number of approvals required before completing a cross-chain action.
FXRP could extend XRP use beyond Flare FXRP represents XRP within Flare’s smart-contract ecosystem. Users can mint it against XRP and deploy it across lending markets, liquidity pools, vaults and other decentralized finance services.
Flare activated FXRP on its mainnet in September 2025. Its supply later passed 100 million tokens, with much of the capital used across staking, lending and structured yield products.
Bringing FXRP to another ecosystem would require technical support on both sides. LayerZero documentation states that a selected DVN must operate on the source and destination chains before it can verify a pathway.
Cardano support therefore remains uncertain. Neither Flare nor Cardano has announced an integration, and Philion’s post did not confirm that LayerZero currently provides the required Cardano route.
Philion calls for wider blockchain cooperation Philion’s comments followed earlier public disputes with Cardano founder Charles Hoskinson over Bitcoin and XRP interoperability. The two executives previously disagreed over whether networks should build separate bridging systems or use shared infrastructure.
In his latest post, Philion welcomed Hoskinson’s renewed industry activity. He said the sector benefits from the presence of Hoskinson, Cardano and the Midnight privacy network.
It’s nice to see @IOHK_Charles back in the saddle.
I have disagreed with him in the past regarding duplication of work on XRP & BTC interoperability – my position is that networks can just use FXRP & FBTC via @LayerZero_Core .
More importantly this space would be worse off…
— Hugo Philion (@HugoPhilion) June 9, 2026 Philion also argued that Cardano could use existing assets such as FXRP and FBTC through LayerZero instead of creating separate versions. That proposal reflects his preferred approach but does not represent an agreement between the projects.
As crypto.news reported, Flare integrated LayerZero V2 in 2024, connecting the network to dozens of blockchain ecosystems. At the time, Philion said Flare could eventually operate as a DVN and support cross-chain markets involving assets such as XRP and Bitcoin.
The latest remarks bring that earlier plan back into focus. However, FXRP-on-Cardano remains speculation until Flare, Cardano or LayerZero publishes a formal deployment plan.
PANews reported on June 14th that, according to Token Unlocks data, tokens such as HOME, WET, and ME will undergo significant unlocking next week, including:
LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on June 20th, representing about 4.83% of the circulating supply, with a value of approximately $23.2 million.
Spark (SPK) will unlock approximately 900 million tokens at 5:30 PM Beijing time on June 17th, representing approximately 27.08% of the circulating supply, with a value of approximately $17.8 million.
Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on June 16th, representing about 1.68% of the circulating supply, worth approximately $7.8 million.
KAITO will unlock approximately 17.6 million tokens at 8 PM Beijing time on June 20th, representing about 4.49% of the circulating supply, with a value of approximately $7.4 million.
YZY (YZY) will unlock approximately 20.83 million tokens at 11:00 AM Beijing time on June 17th, representing approximately 4.27% of the circulating supply, with a value of approximately $6.2 million.
The crypto market will welcome tokens worth more than $670.7 million in the third week of June 2026. Major projects, including LayerZero (ZRO), Spark (SPK), and Kaito (KAITO), will release significant new token supplies.
These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.
1. LayerZero (ZRO) Unlock Date: June 20 Number of Tokens to be Unlocked: 25.71 million ZRO Released Supply: 532.79 million ZRO Total Supply: 1 billion ZRO LayerZero is an interoperability protocol that connects different blockchains. Its primary goal is to facilitate seamless cross-chain communication. Thus, it enables decentralized applications (dApps) to interact across multiple blockchains without relying on traditional bridging models.
The team will unlock 25.71 million tokens on June 20, representing 4.83% of the released supply. Moreover, the supply is worth approximately $23.16 million.
ZRO Crypto Token Unlock in June. Source: TokenomistLayerZero will award 13.42 million altcoins to strategic partners. Core contributors will get 10.63 million ZRO. Lastly, 1.67 million ZRO are for tokens repurchased by the team.
2. Spark (SPK) Unlock Date: June 17 Number of Tokens to be Unlocked: 900 million SPK Released Supply: 3.3 billion SPK Total Supply: 10 billion SPK Spark is a DeFi protocol that acts as an on-chain capital allocator, deploying stablecoin liquidity across DeFi, CeFi, and real-world assets. SPK is its ERC-20 governance and staking token.
On June 17, Spark will unlock 900 million tokens into the market. The tokens are worth $17.8 million and represent 27.08% of the current released supply.
SPK Crypto Token Unlock in April. Source: TokenomistThe network will direct 600 million SPK to the ecosystem. Moreover, the team will gain 300 million tokens.
3. Kaito (KAITO) Unlock Date: June 20 Number of Tokens to be Unlocked: 17.6 million KAITO Released Supply: 391.88 million KAITO Total Supply: 1 billion KAITO Kaito is an artificial intelligence (AI)-powered Web3 information platform that aggregates and analyzes cryptocurrency market data from diverse sources like social media, governance forums, news, and more. The KAITO token serves as a medium of exchange, governance tool, and incentive mechanism within the platform.
On June 20, the team will unlock 17.6 million tokens, representing 4.49% of the current released supply. The supply is worth approximately $7.4 million.
KAITO Crypto Token Unlock in June. Source: TokenomistThe foundation will receive 1.19 million tokens. Core contributions will get 6.94 million tokens. Furthermore, early backers will receive 2.31 million KAITO. Finally, the team will direct 7.16 million KAITO for ecosystem and network growth.
In addition to these, other prominent unlocks investors can look out for in the third week of June include Sei (SEI), Arbitrum (ARB), YZY (YZY), and more, which will contribute to the overall market-wide releases.
LayerZero [ZRO] gained 14% in the last 24 hours, while daily trading volume climbed more than 31% to $29.75 million, reflecting renewed buying interest.
Looking into the 4-hour timeframe chart, ZRO traded at $1.06 after extending a recovery that began near the $0.796 low at press time. That rebound followed weeks of persistent weakness, during which sellers steadily pushed the price lower from the $1.30 region.
However, sellers gradually lost momentum, allowing buyers to reclaim the $1.00 level. More importantly, the $1.00-$1.05 range has now flipped from resistance into support.
Source: ZRO/USD on TradingView Can ZRO break above its next resistance zone? The recovery has placed the $1.10-$1.15 supply zone directly in focus.
This area remains important because previous rebound attempts repeatedly stalled there during the broader downtrend. A decisive breakout above that range could open the path toward the larger $1.30-$1.35 resistance zone.
Even so, rejection may trigger a retest of the newly reclaimed support area. Buyers will need to defend that zone to keep the recovery intact.
Network growth lags price recovery LayerZero’s recent recovery reflects improving sentiment, while network activity remains relatively steady. The protocol has processed more than $200 billion in cross-chain volume, yet daily activity remains below earlier highs.
Meanwhile, Open Interest sat near $85 million, showing traders are returning without building excessive leverage. Attention is now turning to the unlock on the 20th of June, which will add 25.71 million ZRO, worth roughly $23 million, to the circulating supply.
This additional supply could create selling pressure, especially while Bitcoin dominance remains elevated near 59%.
If demand does not expand alongside that increase, the event could slow the recovery and create renewed pressure on recently reclaimed price levels.
ZRO eyes a break above $1.09 As the lower timeframe indicates the recovery, the 1-day timeframe portrays a different picture. ZRO remains in a broader downtrend, though recent price action suggests selling pressure is easing.
After finding support near $0.796, buyers pushed the price back above toward $1.08, improving the short-term outlook.
Source: ZRO/USD on TradingView The next key resistance sits between $1.087 and $1.092, where previous rallies lost momentum.
A daily close above that zone would strengthen the bullish case and expose the $1.30-$1.32 range. By contrast, rejection could keep downside risks in play. In that scenario, $0.943 remains the first major support level.
A break below that area could increase the likelihood of another test of the $0.796 low.
Final Summary ZRO reclaimed the $1.00 region as buyers regained control, placing key resistance levels back in focus. LayerZero faces a crucial test between recovery momentum and upcoming token supply expansion on 20 June.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Bitcoin (BTC) is holding above $65,000 at press time on Tuesday as the Bank of Japan (BOJ) raises its interest rate to 1%, shifting focus away from the US-Iran peace agreement.
Uniswap (UNI) and LayerZero (ZRO) edge lower on Tuesday but outpace the broader market over the last 24 hours as the retail sentiment recovers. The Fear and Greed Index, which stands at 25, up from 14 last week, indicates an easing of investor fear.
On the derivatives side, $488 million of total liquidation over the last 24 hours is led by $365 million of short liquidations, reflecting a largely bearish positional wipeout as spot prices rise.
Bitcoin risks losign $65,0000 amid the Bank of Japan’s rate hikeBOJ has increased the interest rate to 1%, the highest level since 1995. The rate hike could further impact the Yen carry trades into Bitcoin, as the previous increase to 0.75% from 0.50% in December coincided with a 25% decline in BTC across January and February.
Bitcoin maintains a mild bullish bias in the near-term following its rebound from $60,000 last week. Still, the price remains well below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs), reflecting a broader downside trend.
The loss of the previously rising trendline, now overhead around $72,753, reinforces the idea that the market has broken its prior uptrend. That said, the Moving Average Convergence Divergence (MACD) has turned positive, hinting at an ongoing corrective bounce, while the Relative Strength Index (RSI) near 44 remains below the midline, suggesting that recovery attempts are still occurring within a broader corrective phase.
On the downside, the key level to watch is the horizontal floor at $65,000, where a daily close below it would open the path toward the $60,000 psychological support.
BTC/USDT daily price chart.On the topside, initial resistance is seen at the 50-day EMA near $70,532, with the broken ascending trendline around $72,753 coming next and the 100-day EMA clustered just above at $73,222.
Uniswap and LayerZero risk losing their rebound gainsUniswap edges lower on Tuesday as its 50-day EMA at $3.02 caps the intraday recovery following 10% gains the previous day. From a technical perspective, a bearish close to the day would break the streak of six-day recovery, risking a throwback to the $2.31 support floor from June 6.
The MACD histogram has turned positive, with the MACD line crossing above its signal line, while the RSI at around 54 hints at mildly improving momentum.
UNI/USDT daily price chart.Initial resistance is located at the 50-day EMA near $3.03, with a break opening the way toward the 100-day EMA at roughly $3.37. Beyond that, the next notable barriers align at the former downward resistance trend-line break area around $3.96 and the 200-day EMA near $4.09, where sellers would likely reassert control if the recovery extends.
LayerZero trades above $1.00 at press time on Tuesday, holding in a broadly bearish configuration as price remains below the clustered EMAs, with the 50-day EMA at $1.2296, the 100-day EMA at $1.4176, and the 200-day EMA at $1.5901 acting as overhead supply.
A downward resistance trend line, whose break level comes in near $1.2209, further reinforces the topside cap, even as momentum has improved. The MACD has crossed above the signal line with a positive, expanding histogram, while the RSI at 50 hovers near the midline, suggesting a modest recovery attempt within a still-dominant downtrend.
Looking up, initial resistance is at the break of the downward trendline around $1.2209, followed closely by the 50-day EMA at $1.2296, forming a nearby supply zone that bulls would need to clear to extend the rebound.
ZRO/USDT daily price chart.A slip below the $1.00 psychological level could erase the six-day recovery in ZRO, testing Wednesday's low of $0.7970.
(The technical analysis of this story was written with the help of an AI tool.)
17 June 2026 | 03:36 LayerZero's next move goes well beyond cross-chain bridging — and the institutions backing the Zero blockchain suggest Wall Street is paying attention.
Key takeaways:
25.71M ZRO tokens unlock on June 20 — 4.83% of supply, ~$23M — into a market where whales have been selling LayerZero’s Zero L1 (Fall 2026) targets 2M TPS, backed by Citadel, DTCC, and NYSE A fee-switch vote this month could permanently burn all protocol fees — right as new supply hits After mainnet, ZRO becomes mandatory gas for every transaction on Zero — governance token no more Cross-chain bridging stopped being a competitive advantage sometime around 2024. Protocols built around moving assets between blockchains eventually discovered they were competing in a commoditized market. Every major chain now supports bridging, fees have compressed, and periodic security failures continue to erode trust. LayerZero processed over $200 billion in lifetime cross-chain volume and controls roughly 85% of the cross-chain messaging market, but the company’s leadership made a calculated bet that market dominance in a low-margin category is not a durable business. The answer is “Zero” — a proprietary Layer-1 blockchain with institutional backers from traditional finance, a technical architecture targeting 2 million transactions per second, and a token model that transforms ZRO from a governance chip into mandatory network fuel.
The timing is difficult. A token unlock of 25.71 million ZRO hits on June 20 — approximately 4.83% of circulating supply entering the market at a moment when whale wallets have been reducing exposure and retail accumulation has stalled. A mandatory fee-switch governance vote is also scheduled for June 2026.Price action paints a less optimistic picture: ZRO closed at $1.0778 on June 16, sitting below all three major moving averages with the 14-day RSI signal line near 34-35 — technically close to oversold territory, but without a clear catalyst for a sustained reversal before the unlock date.
Lifetime volume
$200B+
Daily transfers
$293M
Messaging market share
85%
Total value locked
$7.54B
TVL by chain
Ethereum
$7.16B
Base
$73.4M
Arbitrum
$68.6M
Source: DefiLlama, June 2026
Why bridging alone stopped being a business The cross-chain interoperability market is not shrinking — daily transaction volume across all protocols is growing. But the value captured by any individual protocol is being compressed by three forces: security incidents have trained institutions to treat bridge integrations as a liability rather than a feature; zero-knowledge proof systems are beginning to make native chain-to-chain communication viable without intermediary protocols; and the institutional tokenization wave requires compliance infrastructure that generic bridges were never designed to provide.
LayerZero’s response was not defensive. Rather than optimizing an existing product category, the company announced in February 2026 that it was building Zero — a new chain explicitly targeting the tokenization of traditional financial assets. The infrastructure it describes is not a crypto-native DeFi platform. It is designed for the settlement of stocks, bonds, and private credit, running at speeds that far exceed those of existing public blockchains.
The Wall Street backing that changes the story What separates the Zero announcement from hundreds of other Layer-1 launches is the list of institutions involved. Revealed at LayerZero’s “Day Zero” event in New York, the backing includes Citadel Securities — the world’s largest market maker, handling roughly 25% of US equity volume — which made a direct strategic equity and ZRO token investment specifically to optimize high-frequency trading execution. The DTCC, which clears virtually all U.S. securities transactions, and the Intercontinental Exchange, parent company of the NYSE, are both heavily involved. Former BNY Mellon leadership and current ICE executives have formally joined Zero’s advisory board. Cathie Wood from ARK Invest has taken a personal board seat to guide the protocol’s regulatory compliance framework, not a fund allocation. Google Cloud is the primary infrastructure partner, responsible for the enterprise-grade uptime that financial counterparties require before putting live securities on any network.
Institutional capital behind Zero L1
Institution Role Why it matters Citadel Securities Equity + ZRO token investment World’s largest market maker; ~25% of US equity volume. Optimising HFT execution on Zero. DTCC Strategic partner Clears 99% of global securities trades. Credibility no crypto-native VC can provide. ICE / NYSE Advisory board Former BNY Mellon and current ICE executives formally seated on Zero’s board. ARK Invest Equity; Cathie Wood on board Guides regulatory compliance framework. Personal seat, not a fund allocation. Tether Strategic investor Provides stablecoin liquidity infrastructure across the Zero network. Google Cloud Infrastructure partner Enterprise-grade uptime and global validator node distribution. Source: LayerZero “Day Zero” event, New York, February 2026
The more important detail is how LayerZero assembled its investor base. LayerZero deliberately bypassed crypto-native venture capital in favor of institutions that already process traditional financial transactions at scale. These are not speculative bets on a token price; they are infrastructure investments in a network these firms intend to operate on.
Key events — ZRO / Zero L1, 2026
Feb 2026
“Day Zero” event — New York
Zero L1 announced. Citadel Securities, DTCC, ICE, ARK Invest, Tether, and Google Cloud revealed as strategic partners. 2M TPS target and Jolt ZK architecture presented. Live demo: 30M Ethereum-equivalent transactions verified in under 30 seconds on consumer hardware.
Ongoing
Canton Network + Particula integrations active
Tokenized bonds, digital equities, and private credit routing from Canton to 165+ public chains. Particula risk passports travel natively with assets at the protocol level — live infrastructure, not a roadmap item.
June 2026
Fee switch governance vote
Mandatory on-chain referendum every six months. If activated: all cross-chain transaction fees are permanently burned — a direct deflationary link to protocol usage volume. Community historically divided.
20 Jun
Token unlock — 25.71M ZRO (~$23M)
4.83% of circulating supply enters the market. On-chain data: whale wallets reducing exposure, retail accumulation stalled, futures open interest ~$85M far exceeding spot volume. Sell pressure is the base case unless organic demand expands first.
Fall 2026
Zero L1 mainnet launch
ZRO becomes mandatory gas for all Zero transactions. Three zones go live: EVM general-purpose, HFT institutional, compliance-ready payments. All 165-chain routing volume becomes a pipeline feeding Zero — every message requires ZRO.
The architecture: why 2 million TPS is a different category of problem Standard Layer-1 blockchains are constrained by what engineers call the “universal replication requirement”: every node in the network must process and verify every transaction. Ethereum’s practical throughput under normal conditions sits at 15-30 transactions per second. Even with aggressive optimization, public chains rarely exceed 10,000 TPS without compromising decentralization by restricting who can participate as a validator.
Zero solves this by treating the network as a “multi-core world computer” that separates transaction execution from data settlement. The network launches with three parallel zones — a general-purpose EVM environment, a dedicated high-frequency trading zone optimized for institutional execution, and a compliance-ready private payments zone for regulated institutions. Each zone runs parallel compute tracks rather than a sequential block model. They don’t wait for each other.
The cryptographic layer underneath is what keeps decentralization intact at that scale. Zero-knowledge proofs generated via the Jolt virtual machine framework allow high-performance block producers to do the heavy computation and generate proofs of state changes, while validators running on Raspberry Pi-class hardware simply verify those proofs — without re-executing the transactions themselves. Verification of a ZK proof is orders of magnitude cheaper than re-execution of the computation that produced it. At the February 2026 New York demonstration, LayerZero verified 30 million Ethereum-equivalent transactions in under 30 seconds on consumer-grade devices.
Zero L1 — “multi-core” execution model
Zone 1 — DeFi / EVM
General-purpose Ethereum-compatible. Parallel compute tracks — no sequential block constraint.
Compliance-ready payments for regulated institutions. Privacy controls without leaving the network.
↓ each zone generates cryptographic transaction proofs
Jolt zk-VM proving framework
High-performance block producers generate zero-knowledge proofs of all state changes. Demo, New York Feb 2026: 30M Ethereum-equivalent transactions verified in under 30 seconds.
↓ atomic settlement — proofs passed to validators
Lightweight block validators
Consumer-grade hardware (Raspberry Pi-class) verifies proofs without re-executing transactions. Decentralisation preserved because validation is cheap enough for any participant to run a node.
2,000,000 TPS
target throughput per zone
$0.000001
target execution fee per transaction
How traditional finance connects technically to Zero LayerZero has not waited for Zero’s mainnet to begin building institutional infrastructure. Two integrations in the current protocol already create the foundation for what Zero is intended to expand.
The Canton Network integration connects LayerZero’s interoperability layer directly to the private blockchain network used by institutional asset managers. Banks and issuers operating on Canton can now route tokenized bonds, digital equities, and private credit funds to any of the 165+ public blockchains in LayerZero’s existing network. The reverse flow also works — investors on public chains can fund Canton-ledger purchases using common public stablecoins. This is live infrastructure, not a roadmap item.
The Particula integration addresses a problem that has blocked regulated asset tokenization for years: fragmented compliance data. When a tokenized bond moves between chains, compliance records, risk classifications, and lifecycle data historically had to be tracked separately on each chain, creating audit gaps that regulators and issuers found unacceptable. Under the Particula integration, an asset’s risk passport travels natively with the token across every transfer via LayerZero’s OFT standard. Compliance data remains embedded at the protocol level rather than being managed separately by each chain’s custodian.
What happens to ZRO: from governance chip to network fuel ZRO’s current utility is primarily governance: holders vote on protocol decisions, including the semi-annual fee-switch referendum. That is a thin economic model for a network processing $293 million per day. The Zero mainnet changes the calculus directly.
Upon launch, ZRO becomes the mandatory native gas asset for all transactions on the Zero L1 network. Every settlement, every trade, every message routed through Zero requires it. The company describes the broader effect as a “Trojan Horse” — years spent building network effects across 165 chains now become routing pipelines feeding back into Zero, where ZRO is the required medium of exchange for all of that activity.
ZRO today
ZRO after Zero L1 mainnet
–
Governance voting on protocol decisions
–
Semi-annual fee switch referendum participation
–
Speculative exposure to protocol growth
–
No mandatory demand mechanism tied to volume
+
Mandatory gas for every Zero L1 transaction
+
Required staking asset for network validators
+
All 165-chain routing volume funnels to Zero — every message requires ZRO
+
Potential burn mechanism if fee switch activates
This change in token utility is central to the long-term bull case for ZRO. ZRO moves from a thin governance instrument with no mandatory demand floor to the fuel layer of a network processing institutional settlement volume. Whether that shift is priced in before or after mainnet is the open question.
ZRO: What the Chart Says Before the Unlock ZRO closed at $1.0778 on June 16, sitting below all three major moving averages simultaneously — the 50-day SMA at $1.2386, the 100-day at $1.5852, and the 200-day at $1.5912. All three are sloping downward. The price structure from April through early June is a consistent series of lower highs and lower lows, with the early June bottom approaching the $0.80 level before a partial recovery to current levels. The 7-day gain of 26.87% reflects that bounce from the June floor — not a structural trend reversal.
The RSI signal line at 34.57 places it close to oversold territory, but without a bullish divergence between the signal line and the June price lows, the reading does not confirm an impending reversal — it only indicates the token has sold off significantly. Open interest on ZRO perpetual futures near $85 million far exceeds spot volume, meaning short-term price movement responds more to derivatives positioning and potential short squeezes than to organic accumulation. The $1.00 level is the immediate psychological support. A sustained close below it before or around the June 20 unlock would bring the $0.80 June lows back into the picture. To the upside, the SMA 50 at $1.2386 is the first material resistance, with the SMA 100 and 200 clustered between $1.58 and $1.59 representing a ceiling that requires a significant fundamental catalyst to clear.
ZRO / USD — Daily
Close: Jun 16, 2026
$1.0778
-3.54% day · -4.86% 24h · +26.87% 7d
Moving averages — all bearish
SMA 50
$1.2386 ↓
SMA 100
$1.5852 ↓
SMA 200
$1.5912 ↓
Price has not closed above SMA 50 since April 2026. All three averages slope downward.
RSI (14) — near oversold
RSI (14, close)
49.51
Signal line
34.57
30 oversold
50 neutral
70 overbought
Signal near oversold but no bullish divergence from the June lows.
Key price levels
Resistance 1
$1.20
SMA 50 zone
Resistance 2
$1.58–59
SMA 100/200
Support
$1.00
Psychological
June low
~$0.80
Structural floor
Open interest on ZRO perpetual futures: ~$85M — significantly larger than spot volume. Short-term price action is more sensitive to derivatives positioning than organic demand. The June 20 unlock is the immediate structural risk.
Bull and bear case: the same data, read differently Factor Bull case Bear case Institutional partners Citadel and DTCC don’t make speculative bets — real infrastructure intent behind equity positions. Institutions can use the network without buying ZRO. Partnership does not equal token demand. Zero L1 mainnet ZRO becomes mandatory gas. Every transaction on Zero requires it — entire 165-chain liquidity base funnels in. Mainnet is Fall 2026. The market can price out expectations multiple times before launch. June 20 unlock If organic demand grows alongside supply, 4.83% dilution gets absorbed — as happened at earlier unlocks. Whale reduction + stalled retail + $23M unlock = three simultaneous headwinds on a structurally weak chart. Fee switch vote Activation links protocol volume directly to supply reduction — deflationary pressure enters exactly as new supply hits. Vote may not pass. Previous cycles show a divided community on permanent fee activation. BTC dominance ~59% Capital rotation from BTC to altcoins gives ZRO a real infrastructure narrative to attract institutional flows. Sustained BTC dominance keeps retail capital concentrated. Altcoin demand stays thin without a macro catalyst. At present, three risks converge simultaneously: a large token unlock, an uncertain governance vote, and a chart that has yet to confirm a trend reversal. On-chain analysts tracking whale wallet data note that price recoveries since April have been driven primarily by futures positioning rather than spot accumulation.
The institutional story is real — Citadel Securities and the DTCC do not make performative investments — but institutional partnerships do not directly translate to token demand unless the Zero L1 network achieves meaningful transaction volume, which will not be testable until Fall 2026. The gap between now and that test is where the bear case lives. Whether LayerZero successfully converts its existing infrastructure position into a functioning institutional settlement layer will determine whether ZRO eventually trades on fundamentals rather than derivatives positioning. The architecture is credible. The institutional backing is credible. The market environment between now and mainnet is far less certain.
This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
After recovering from the recent hacking crisis, LayerZero [ZRO] reclaimed $1 and jumped to $1.2. However, the altcoin faced rejection at this price level. As a result, ZRO has closed at lower lows for three consecutive days, breaching $1 support to a low of $0.09.
At press time LayerZero traded at $1.007, down 5.7% on the daily charts. Amid this price slip, some investors, especially whales, are choosing to exit positions.
Whale offloads $3.96M in ZRO With ZRO declining for three consecutive days, a whale has significantly increased spending. Arkam data revealed that the whale has been aggressively selling over the past 24 hours.
In the past day, the wallet transferred 3.51 million ZRO tokens worth $3.96 million to Binance, making the moves in portions. Despite these deposits, the wallet still holds 1.2 million ZRO valued at $1.2 million.
With such a major holder depositing during a period of weakness, it is mostly to lock in gains and also operational expenses. Since the wallet still holds a significant share of holdings, it suggests the holder is yet to fully capitulate.
Source: Santiment Additionally, other market participants have also been selling as the Exchange Flow Balance remained positive at press time, hovering around 5k. A positive flow balance suggests that more sellers are active than buyers.
With intense sell-side activity, supply has increased significantly, thus reducing scarcity. Often, such market conditions have further weakened the market, leading to a price drop.
The whale selling further exacerbated an already weakened market. In fact, the market lacks strong momentum, with downside risk remaining elevated.
Looking at the Stochastic Momentum Index (SMI), the indicator sat deep within oversold territory at 6 as of writing. The SMI at such low levels suggests that sellers are dominating the market.
Source: TradingView With bullish pressure remaining minimal, this suggests the prevailing trend is likely to continue. Currently, LayerZero is testing its key support at $1. If the recent selling spree in the market continues, ZRO will lose the $1 support again and drop towards the $0.88 support level.
However, if the $1 support holds, the altcoin will be strong enough for another leg up, rebounding towards $1.3.
Final Summary An investor wallet transferred 3.51 million ZRO tokens, worth $3.96 million, to Binance. LayerZero faces intense selling pressure, risking another dip toward $0.88.
June 19, 2026 — following an April 2026 attack on KelpDAO’s rsETH cross-chain bridge, Aave saw roughly $84.5 billion in user funds flow out of its protocol. Even so, Aave’s core functionality remained fully intact, marking one of the largest DeFi stress tests to date that the platform passed successfully. The crisis originated with an attack on KelpDAO’s LayerZero cross-chain bridge, which led to the theft of about $292 million worth of rsETH. This sparked widespread market anxiety over rsETH’s value and solvency as collateral. Since rsETH is used as collateral across multiple DeFi protocols, including Aave, the risk spread rapidly, triggering a massive wave of withdrawal requests. Some Aave markets hit 100% utilization rates, leaving some users temporarily unable to access their funds. To address the emerging liquidity crunch, Aave’s risk management team implemented emergency freezes and adjusted key parameters to contain risk contagion. Aave founder Stani Kulechov called the incident a proof point of DeFi’s growing maturity, noting that the protocol operated exactly as designed under extreme pressure—demonstrating the resilience of a transparent, rules-based on-chain system. However, several independent analysts pointed out that while Aave avoided a total systemic collapse, the event exposed critical vulnerabilities: concentration risks, liquidity gaps, and contagion risks driven by the DeFi lending ecosystem’s high level of interconnectivity. They added that large borrowers’ actions can impact system stability in ways that existing risk models fail to account for. Aave currently mitigates risks through several layered safeguards, including Loan-to-Value (LTV) caps, liquidation thresholds, supply limits, borrowing limits, Isolation Mode, E-Mode, and on-chain governance mechanisms. These tools performed mostly as intended during the crisis, but observers argue that Aave needs to improve its governance response speed and refine its risk models to address unforeseen systemic shocks in the future. Analysts believe this event illustrates that DeFi protocols can withstand large-scale fund runs without external assistance—but one stress test alone can’t fully prove a system is secure. As composability between DeFi protocols continues to grow, a problem with an external asset or cross-chain bridge could quickly escalate into a liquidity crisis for the entire ecosystem.
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LayerZero [ZRO] drew fresh attention after a LayerZero-linked wallet transferred 2 million tokens worth about $1.93 million to Binance, raising concerns about potential selling pressure.
Large deposits to exchanges often attract attention because they increase the immediately available supply.
In this case, the move arrived as sentiment already weakened across derivatives markets. As a result, traders appeared increasingly cautious about near-term price action. The transaction did not confirm an imminent sale.
However, it added another layer of uncertainty to a market that has already struggled to attract sustained buying interest throughout the past several months.
Bears tighten their grip on ZRO order flow Selling activity remained dominant across the futures market as aggressive traders continued to hit bids rather than chase higher prices.
Futures Taker CVD reflected clear seller dominance, indicating that market participants had actively favored short-term downside exposure.
This behavior aligned with ZRO’s broader decline and suggested that buyers had not regained meaningful control despite occasional recovery attempts.
While price stabilized near support, derivatives traders continued to express caution through their execution patterns. That dynamic often reveals conviction levels better than price alone because it highlights who controls market orders.
As bearish pressure persisted, market participants appeared reluctant to absorb available supply aggressively.
The whale transfer further reinforced these concerns and kept attention focused on whether sellers would continue dictating short-term direction.
Source: CryptoQuant Leverage rises despite growing uncertainty Speculative activity increased even as bearish sentiment continued to dominate broader market behavior.
Open Interest climbed 8.48% to $84.92 million, showing that traders had added fresh positions rather than reducing exposure.
Rising Open Interest alongside persistent selling pressure often signals that participants are building new directional bets instead of closing existing ones. In this instance, derivatives activity suggested that traders remained highly engaged despite weakening price performance.
The increase also indicated that volatility expectations continued to grow around ZRO.
Although higher Open Interest does not automatically signal bearish conditions, the metric carried greater significance because taker activity still favored sellers.
Therefore, traders appeared willing to maintain leverage while positioning for the market’s next major move around key support levels.
Source: CoinGlass Channel breakdown threat remains active ZRO continued trading within a well-defined descending channel that has guided price lower since March. Price recently revisited the channel’s lower boundary near the $0.80 support area before attempting a modest rebound.
Even so, the broader structure remained bearish because ZRO still traded beneath the channel midpoint and below key resistance levels at $1.255, $1.545, and $2.00.
RSI stood at 38.08, showing weak conditions without reaching oversold territory.
Meanwhile, MACD displayed signs of recovery as histogram bars turned positive and the indicator narrowed its bearish gap.
Despite that improvement, MACD had not completed a bullish crossover capable of changing the larger trend.
Source: TradingView If buyers defend the $0.80 support zone and reclaim resistance near $1.255, sentiment could improve and encourage stronger recovery attempts.
However, if sellers maintain control and price loses support, the broader downtrend could continue toward lower levels.
Current market positioning suggests traders remain cautious, making the reaction around $0.80 the most important development to watch in the coming sessions.
Final Summary Whale activity and seller dominance continued weighing on ZRO sentiment. Rising leverage increased volatility risks, while support near $0.80 remained critical.
The tokenized real-world asset market has hit $30 billion in on-chain value. The problem is that most of those assets are stuck on whatever blockchain they were born on, like a passport that only works in one country.
LayerZero and Centrifuge announced a partnership on March 19 designed to change that equation. The integration allows Centrifuge’s tokenized funds and RWAs to launch a single time and then extend across more than 165 blockchains, all while maintaining unified compliance frameworks and consistent product structures.
What’s actually being connected The first assets benefiting from this integration are not small experiments. JTRSY, Centrifuge’s largest tokenized US Treasuries fund, holds nearly $861 million in value. That makes it one of the bigger tokenized government debt products in the entire market.
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JAAA represents AAA-rated Collateralized Loan Obligations, bringing structured credit products into the cross-chain mix. And then there’s SPXA, which launched in September 2025 as the world’s first licensed tokenized S&P 500 index fund. Three very different asset classes, from government bonds to equities to structured credit, all getting the same multi-chain treatment.
Why fragmentation is the real enemy The $30 billion RWA market sounds impressive until you realize how splintered it is. Liquidity for a tokenized Treasury product on Ethereum doesn’t help a buyer on Avalanche or Arbitrum. Each chain becomes its own island, with its own pool of capital and its own compliance wrapper.
Centrifuge brings some credibility to the compliance side of this equation. The platform works with SEC-registered transfer agents, which means the regulatory plumbing already exists for US-regulated assets. Prior integrations with other cross-chain solutions like Wormhole suggest Centrifuge has been methodically building toward multi-chain accessibility for a while. The LayerZero partnership dramatically expands the reach.
What this means for investors The RWA tokenization narrative has been building momentum for years, with market projections suggesting the sector could scale into the trillions by 2030. The gap between $30 billion today and trillions tomorrow is enormous, and infrastructure like this partnership represents the kind of plumbing that needs to exist before that growth can materialize.
The risk side of the ledger deserves attention too. Cross-chain messaging protocols introduce bridge risk, the possibility that the interoperability layer itself becomes a point of failure or attack. The crypto industry has a painful history with bridge exploits, and any system connecting $861 million in Treasuries across 165 networks needs to be scrutinized accordingly.
There’s also the question of whether regulatory bodies will view a deploy-once-reach-everywhere model favorably. Securities regulators in different jurisdictions may have opinions about assets being accessible to their citizens through cross-chain infrastructure, even if the underlying compliance was designed for a single deployment. The SEC-registered transfer agent relationship helps in the US context, but global regulatory alignment remains an unsolved problem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The meme coin frenzy in the cryptocurrency world led to a Solana craze in March. Starting with DOGE and continuing with SHIB and PEPE, the trend evolved into a large-scale Solana meme coin event. Thousands of new cryptocurrencies were created, some influenced by famous personalities. Recently, Andrew Tate’s statements and shares significantly impacted the market, leading to the rise of a millionaire.
Is It the Andrew Tate Effect?Recently, significant information about Daddy Tate (DADDY) caused rumors in the market. Insiders in the cryptocurrency world, like in the economic world, are known to make substantial gains.
An investor, believed to have similar insider information, turned a $2,000 investment into $1.74 million through an incredible rise. Andrew Tate, who has millions of followers and occasionally makes notable cryptocurrency statements, was at the core of this cryptocurrency. The investor leveraged the significant interest in Daddy Tate. Interestingly, this occurred despite Andrew Tate having no organic connection to the cryptocurrency.
Lookonchain offered a different perspective, suggesting the person might have insider information.
Lookonchain, examining the investor’s moves, identified three wallet addresses. The investor bought 29.8 million DADDY tokens, equivalent to about 13 Solana, and made several moves afterward.
The investor’s moves are noteworthy. Initially selling some of the cryptocurrencies, the investor might have divided and later combined the tokens to avoid attention. Within 24 hours, the investor sold most of the remaining tokens for approximately 12,000 SOL, making a $1.74 million profit.
More importantly, the investor still holds 13.96 million DADDY tokens worth over $2.8 million, potentially reaching a total profit of $5.6 million if sold today.
How Much Is the Meme Coin Worth?Daddy Tate, part of the Solana craze, increased by 3.5% in the last 24 hours. After the rise, the price reached $0.2452. Daddy Tate’s market cap also increased similarly, surpassing $247 million.
More importantly, the 24-hour trading volume reached $82 million, making it the 82nd most traded cryptocurrency according to Coinmarketcap data.
Despite these developments and the emergence of millionaires, it’s essential to remember that meme coins can sometimes lead to negative outcomes. Investors should be cautious, as those entering the market late may incur losses despite others’ significant gains.
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.
Base is a Layer 2 chain on Coinbase. Several meme coins on Base started their recovery from the recent correction. Solana based asset Daddy Tate (DADDY) wiped out nearly 19% of its value in the past 24 hours, while BRETT, KEYCAT, BOOMER and HIGHER rallied.
Base-based meme coins lead recovery in the sector Solana-based meme coin DADDY gained relevance for its notorious association with celebrity Andrew Tate (who received 40% of the token’s supply).
DADDY is down nearly 19% on its value in the past 24 hours, while Base-based meme coins Brett (BRETT), Keyboard Cat (KEYCAT), Boomer (BOOMER) and Higher (HIGHER) gained between 3% and 6% in the same timeframe.
DADDY was listed on Gate.io exchange on June 15, and the asset hit its all-time low of $0.1733, on Sunday, June 16. The meme coin’s all-time high was $0.2886, on Friday, per CoinGecko data.
Crypto intelligence tracker Bubblemaps had identified insider trading activity in DADDY and alerted traders to proceed with caution when trading the asset.
Base-based meme coins BRETT, KEYCAT, BOOMER and HIGHER are making steady progress towards wiping out their double-digit losses from the past seven days. The overall market capitalization of the sector is up nearly 5%, to $2.16 billion.
Solana-based meme coins’ market capitalization is also rising. This indicates there is a recovery in the meme coin ecosystem as a whole, while Bitcoin ranges below resistance at $67,000, on Binance.
Meme cryptocurrency Daddy Tate (DADDY), linked to former kickboxer and social media personality Andrew Tate, continues to reach new milestones despite ongoing controversies.
Notably, the number of holders of the meme coin has surged, reaching 34,266 as of June 17, according to the latest data retrieved from Solscan.
A breakdown of the holders shows the concentration of most tokens in a few addresses. Specifically, 25.23% of DADDY’s supply is held by 10 addresses, while the remaining 74.76% amounts to 448,045,509.21 tokens spread among other holders.
DADDY holders summary. Source: Solscan DADDY insider trading controversy The milestones achieved by the Solana (SOL)-based token have sparked suspicion, particularly regarding insider trading claims.
Bubblemaps, an on-chain analytics firm, provided controversial data suggesting that insiders bought 30% of the supply at market launch, just hours before Tate began promoting the token on X. Additionally, Bubblemaps reported that Tate sent 40% of the total supply to a wallet but promised not to sell any of his tokens.
DADDY transaction history. Source: Bubblemaps However, concerns persist about a potential crash if Tate decides to sell his holdings, valued at over $60 million. These concerns are heightened by the fact that similar incidents have occurred with other celebrity-related meme coins.
For instance, the MOTHER token, linked to rapper Iggy Azalea, crashed by over 50% from its all-time high. This crash allowed DADDY to surpass MOTHER in market capitalization.
Meanwhile, Tate has vowed to help push the token’s market capitalization to $1 billion. He has also alleged that once the market cap hits a point where the 40% he holds is worth $100 million, he will burn it.
DADDY price analysis Meanwhile, the coin has experienced a significant price decline, marked by high volatility and substantial downward movement. Despite a slight recovery towards the end of the period, the overall trend remains negative.
As of press time, DADDY had corrected almost 22%, while over the past 24 hours, the token is down less than 1%, trading at $0.18.
DADDY seven-day price chart. Source: CoinMarketCap A review of the weekly chart shows initial support around the $0.24 level, which eventually failed. The price found temporary support around $0.15 before recovering slightly and currently faces resistance at $0.20.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Since its launch, the meme cryptocurrency Daddy Tate (DADDY), linked to British-American social media personality and former professional kickboxer Andrew Tate, also known as Top G, has reached stellar popularity and, with it, an increase in price, aided by Tate’s publicity.
As it happens, the price of DADDY continued to grow, outshining Iggy Azalea’s MOTHER coin, after Tate’s X post that he has “never seen mommy beat DADDY,” as well as his announcement regarding plans to turn this crypto asset into a utility token, as per data on June 18.
Specifically, on June 15, Tate announced via the X account of his The Real World learning platform that the project will soon start accepting DADDY as a “payment method to join The Real World,” triggering a massive price gain that saw it advance 30% in the two days after the announcement.
Crypto tables turn That said, DADDY has since taken a different path, dropping from the previously attained $0.1983 to $0.1281 at press time or by over 35%, coinciding with yet another announcement by Tate, in which he said he planned to turn DADDY into a non-fungible token (NFT) “but not gay because NFTs are gay” – or a “non-gay token (NGT).”
“In the last crypto bull run, there were a lot of ‘crypto influencers,’ dorks, je**ing off over fu**ing monkey pictures. It was truly upsetting. So, what I want to do is reduce the supply of DADDY coin to the point where even if you hold one DADDY coin, you get karmic retribution from the universe.”
Interestingly, at the same time, an X user with a large following, known as lyx.eth or DexGemsReal, has pointed out the similarities between DADDY and another popular memecoin – Pepe (PEPE), hinting at the possibility that Tate’s crypto asset could reach PEPE’s price heights very soon.
DADDY price analysis For now, DADDY’s price of $0.1281 suggests a 37.70% decline in the last 24 hours, adding up to the accumulated drop of 45.93% since the launch of its trading metrics on the CoinMarketCap platform, according to the most recent data retrieved by Finbold on June 18.
DADDY price 24-hour chart. Source: CoinMarketCap All things considered, Andrew Tate’s memecoin has certainly attracted mass interest, evident in the fact that there were over 38,310 DADDY holders on June 18, up 11.8% in a single day from the previously reported 34,266, according to the latest information obtained from Solscan.
That said, prices in the crypto sector can often be volatile, particularly in cases of fairly new tokens that might be under the influence of popular individuals’ public statements, so doing one’s own research and staying aware of all the risks is critical when investing in them.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
The memecoin project Mother Iggy (MOTHER), launched by Iggy Azalea, has managed to surpass the Daddy Tate (DADDY) project, launched by Andrew Tate, in terms of market value. This week, MOTHER quickly recovered, gaining over 35% in value, while DADDY fell behind, losing 20% amid market volatility.
What’s Happening in the Solana Ecosystem?According to DEX Screener data, DADDY’s market value is currently notable at $69.7 million. On the other hand, MOTHER has a slight advantage with a valuation of $75.7 million. Despite fierce competition, MOTHER has shown remarkable resilience and recovery, in sharp contrast to DADDY’s decline.
Initially, DADDY surpassed MOTHER in market valuation due to the excitement following its launch, but recent trends have reversed this situation. Andrew Tate, known for his controversial statements, had previously shared his reasons for supporting DADDY:
“I heard about a token called MOTHER, so now I’m supporting a token called DADDY in the name of patriarchy.”
Currently, DADDY has 41,930 asset holders, surpassing MOTHER’s 27,056 wallets. Tate hinted at a possible surprise that could lead to a significant token burn if DADDY reaches 50,000 token holders, sparking curiosity among his followers.
Details of the CompetitionWith all these developments, both celebrities are integrating their memecoin projects into a broader process. On June 10, Iggy Azalea announced that the telecommunications company Unreal Mobile would accept MOTHER and Solana (SOL) for purchasing phones and monthly cell phone plans. This move is supported by a partnership with Sphere Labs, aiming to include cryptocurrency in daily transactions.
Simultaneously, Andrew Tate is exploring the benefits of converting DADDY into a non-fungible token (NFT) to significantly reduce its supply. He plans to do this along with a burn system on the asset.
Additionally, Tate plans to integrate Real World University for DADDY, offering exclusive access and potential staking rewards to token holders. This approach aims to create daily cryptocurrency rewards for university members and further enhance the token’s appeal.
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.
In a milestone achievement for the controversial influencer, Andrew Tate’s cryptocurrency Daddy Tate (DADDY) has surpassed $120 million in market capitalization, marking a notable moment for the token benefitting from Tate’s massive social media following and recognizable brand.
Specifically, DADDY’s market cap has recently hit $124.57 million, rising over 35% in a single day and over 80% across the past week, according to the most recent information retrieved by Finbold from the crypto sector monitoring and analytics platform CoinMarketCap on July 4.
DADDY market cap 24-hour chart. Source: CoinMarketCap Andrew Tate Twitter fame boosts DADDY Indeed, launched weeks ago, this crypto token has captured significant attention and experienced a swift ascent in value, allowing its early investors to quickly reap substantial returns, including one that turned $2,000 into $1.74 million, as well as adding to Andrew Tate net worth.
On top of that, it has managed to amass a 47,600-strong holder community, according to the latest data retrieved from Solscan, which represents an increase of nearly 40% since June 17, when Finbold last reported on its performance in terms of holders.
Interestingly, a further breakdown of the holders’ numbers shows the concentration of most tokens in a few addresses, with 25.36% of the DADDY supply held by 10 addresses, while the remaining amount of 74.63% or 447 million tokens belongs to other holders.
DADDY holders summary. Source: Solscan DADDY price analysis At press time, the Daddy Tate token was trading at the price of $0.2181, which indicates a growth of 34.63% in the last 24 hours, advancing 86.03% across the past seven days, as it reduces its monthly chart losses to 7.94%, while the rest of the market is struggling amid a bearish trend.
DADDY price 7-day chart. Source: CoinMarketCap All things considered, Andrew Tate’s crypto token has soared sky-high thanks to the former professional kickboxer’s fame, testifying to the power of influencer-driven financial ventures in the digital age. However, it is not without risks, so doing one’s own research and understanding these risks is crucial.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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The value of the Daddy Tate (DADDY) has been closely linked to Andrew Tate’s online and offline activities since its launch in June 2024.
For example, when the controversial influencer announced on X that the meme coin would soon be accepted as payment in the real world, the cryptocurrency exploded in value by some 30%.
More recently, DADDY saw another rally as the Tate brothers revealed they are, after more than a year, free to leave Romania.
The cryptocurrency built on Solana (SOL) rapidly rallied from about $0.1818 to above $0.24, leading some investors to believe it is about to truly take off, possibly matching the success of Pepe (PEPE) as some analysts have predicted.
Trading since has, however, been substantially more choppy, and instead of continuing the rise, DADDY saw a significant decline to its press time price of $0.1658. Additionally, despite still being in the green on the weekly chart, the meme coin is 31.52% below its July 5 highs.
DADDY 7-day price chart. Source: CoinMarketCap If quantified using the meme coin’s market capitalization, such movements indicate that the cost of Andrew Tate’s freedom for DADDY holders runs as high as $40 million as the cryptocurrency fell from approximately $142 million to $97 million between July 5 and 10.
The love and hate of Andrew Tate There are multiple possible explanations for DADDY’s behavior after Friday, not the least of which is that, as a meme coin, it is subject to rapid and often inexplicable price changes.
Nonetheless, a part of the reason for the swift expiry of the rally may be that the news of Tate’s release from Romania has quickly been dampened by the clarification that he is still to remain within the EU and by the since-publicized tax evasion accusation against the brothers.
Additionally, Andrew Tate’s uncertain attitude toward the crypto market may also play a part.
Indeed, while actively engaging with cryptocurrencies – so much so that he once announced he would be abandoning fiat in favor of coins and tokens such as Bitcoin (BTC) and Ethereum (ETH) – he has also repeatedly ridiculed them.
Though Tate criticized the crypto community as childish and focused solely on quick profits, it would be hard to see his own frequently belligerent comments and his stated intent to ‘crash’ Solana as much more mature.
Finally, DADDY may have also been hampered by the fact that outside of his fanbase, Andrew Tate is generally seen as a shady grifter, which is bound to impact any project he is associated with.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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Popular altcoins suffered a harsh reversal on Sunday, Sep. 29 as the recent Bitcoin surge stalled a few points below $66,000.
Jasmy, Daddy Tate, and Reef reverse JasmyCoin (JASMY), the popular Japanese coin, retreated to $0.02326, down by 8% from its highest level on Saturday.
Daddy Tate (DADDY), the meme coin associated with controversial social media personality Andrew Tate, fell to an intraday low of $0.1147. Reef (REEF) dropped to $0.0052.
Some of this month’s top gainers also dropped sharply — a sign that some traders were starting to take profits. Moo Deng (MOODENG), the viral hippo-themed meme coin, declined by 17% while LandWolf (WOLF) fell by over 10%.
As a result, the total market cap of all cryptocurrencies tracked by CoinGecko retreated by almost 2% to $2.4 trillion.
Still, cryptocurrencies have been some of the best assets this month. Bitcoin rose by over 20% from its lowest point during the month and remains about 10% below the all-time high. The rally explains why most altcoins have bounced back since in the last bullish cycles, many of these coins tend to do better.
Santiment warning There are two possible reasons why altcoins like Jasmy, Reef, and Daddy Tate retreated. First, Santiment warned that Bitcoin may struggle to hit its all-time high, citing the rising bullish posts about Bitcoin on social media.
While bullish sentiment on social media is often seen as good, Santiment warned that markets historically move in the opposite direction of crowd expectations.
Technically, there are also concerns that Bitcoin may find resistance at the descending trendline that connects the highest swings since March. Failure to flip that level would likely push it substantially lower, dragging other altcoins with it.
On the positive side, a break above that level — as some analysts predict — will push it to the next resistance point at $70,000 followed by its all-time high.
Second, these tokens retreated because of profit-taking among investors because of the recent surge. At its highest point this month, Reef was up by over 1,018% from its lowest point. Similarly, Jasmy was up by 48% while Daddy Tate was up by 144%.
Historically, altcoins tend to retreat after staging a strong rally. For example, on-chain data shows that a Jasmy whale moved tokens worth $1.5 million to Coinbase. The other three wallets moved tokens with a combined value of $4.5 million to Coinbase in the last 24 hours.
Similar to the wider crypto market, most meme coins performed terribly throughout February. The drawdown witnessed by these meme tokens even led to some forming new all-time lows. However, there is an opportunity in this downtrend that is seemingly coming to an end.
BeInCrypto has analyzed five meme coins that could make their way back up and recover their losses in March. Their recovery also relies on investor participation and the support altcoins receive to strengthen the meme coin sector. Chef Kids, Head of PancakeSwap, emphasized to BeInCrypto the crucial role of community engagement in this process.
“Meme coins, like any project, are important to have a strong community—not just for trends but for solid feedback and a loyal user base. To stand out, having a clear roadmap, steady growth, and a dedicated community are essential. Over time, it becomes clear which projects are building something that lasts,” Chef Kids stated.
Daddy Tate (DADDY)DADDY has surprised the market this week with a 70% price increase, recovering February’s losses and more. The altcoin is currently trading at $0.054. This rally marks a shift in investor sentiment, potentially signaling further upside if the current momentum persists.
DADDY is now eyeing a further rally, potentially breaching the $0.068 resistance. This level has been a challenge for the meme coin since mid-December, but with bullish factors driving the price, it may finally break through. The continuation of this uptrend depends on sustained investor confidence.
DADDY Price Analysis. Source: TradingViewHowever, if DADDY fails to hold the support of $0.054, the price may fall back to the $0.045 support level. A deeper decline could invalidate the bullish outlook, potentially triggering a shift in sentiment and setting the coin back further.
Pepe (PEPE)PEPE continues its downtrend, trading at $0.00000718 after starting this decline in November 2024. The altcoin’s price remains under pressure, but the situation could shift. Notably, PEPE has a strong correlation of 0.89 with Bitcoin, potentially setting the stage for a recovery if BTC rebounds.
With Bitcoin potentially nearing a market bottom, PEPE could benefit from its recovery. If Bitcoin gains momentum, PEPE is likely to follow suit. A key marker for this would be PEPE flipping $0.00000951 into support and eventually surpassing the $0.00001146 resistance level, signaling further upside.
PEPE Price Analysis. Source: TradingViewIf the downtrend persists, PEPE faces the risk of falling below its $0.00000748 support. A breakdown through this level could lead to a test of $0.00000632, further invalidating the bullish thesis and signaling a deeper decline.
Popcat (POPCAT)POPCAT has made a notable recovery, currently down just 9.5% over the month, trading at $0.265. The altcoin aims to breach the resistance of $0.342, with potential for further upside. A successful breakout could lead to significant gains, especially if market sentiment continues to improve.
In previous market cycles, a bounce off the $0.238 support, coupled with bullish signals, has fueled rallies up to $0.645. The ADX currently sits below the 25.0 threshold, indicating weakening bearish momentum.
If POPCAT follows a similar pattern, this shift could set the stage for a 129% rise.
POPCAT Price Analysis. Source: TradingViewHowever, if POPCAT fails to breach $0.342, it may return to its support levels at $0.238 or even $0.203. Such a drop would invalidate the bullish outlook, signaling continued consolidation or further losses.
Peanut The Squirrel (PNUT)Another one of the top meme coins, PNUT, has outperformed expectations with a 56% rally this week, reaching $0.226 and erasing February’s losses. The altcoin is now focusing on securing $0.227 as a stable support level. Maintaining this level will be crucial for continued upward momentum and price stability in the short term.
With $0.227 successfully established as support, PNUT could leverage the improving market conditions and investor confidence to rise toward $0.442. This recovery would significantly offset the losses suffered in January, potentially positioning the altcoin for further gains if market trends remain favorable.
PNUT Price Analysis. Source: TradingViewHowever, if PNUT fails to secure the $0.227 support floor, the altcoin risks falling back to $0.142. Such a decline would invalidate the bullish outlook, prompting further consolidation and raising concerns over a sustained recovery.
Pudgy Penguins (PENGU)PENGU hit a market bottom in February, forming a new all-time low of $0.0067 amid bearish conditions. Despite this, the altcoin has shown resilience and could be preparing for a potential rebound.
After bouncing back by 24.6% this week, PENGU is currently trading at $0.0090 and targeting a breach of the $0.0100 level. If this resistance is overcome and flipped into support, the altcoin could reach $0.0147. This would help recover most of February’s losses, signaling a positive outlook.
PENGU Price Analysis. Source: TradingViewHowever, if PENGU fails to break the $0.0100 barrier, it risks consolidating above its all-time low of $0.0067. In this case, the bullish thesis would be invalidated, potentially leading to further losses and undermining investor confidence in the short term.
Pop singer Jason Derulo has found himself in hot water after promoting a meme coin that rapidly lost its value, igniting discussions about the role of celebrities in high-risk financial endorsements.
These incidents not only lead to monetary losses but also risk damaging the reputations of the celebrities involved and eroding trust in the cryptocurrency market.
On June 23, Derulo announced the launch of his meme coin, JASON, to his 3.5 million followers on X. Unfortunately, the coin’s value plummeted by over 72% within minutes, causing widespread disappointment among investors and fans.
In response to the backlash, Derulo accused Sahil Arora, an Indian national linked to previous cryptocurrency controversies, of misleading him.
He promised to rectify the situation, stating on X:
“Damn Sahil got me! That’s ok, that’s motivation to take this all the way! I just bought $20,000 worth. In this for my fans for the long haul, going to do everything in my power to send this sh*t to the moon.”
The American singer reiterated his commitment in an apology video, making the coin’s recovery his “life’s goal.”
Despite Derulo’s proactive approach, scepticism remains. Influential figures in the crypto community, including SlumDOGE Millionaire and on-chain detective ZachXBT, questioned his innocence.
SlumDOGE Millionaire commented, “Bro made $1 million off his rug and put $20,000 back in the chart lol. You’re not stupid or new to crypto Jason, you know exactly what was happening, don’t play dumb now.”
ZachXBT added, “You are not sorry at all you have promoted so many crypto scams over the years I have lost track.”
The latest incident is part of a broader pattern involving Arora, who has launched several other celebrity-associated meme coins.
Recently, he hinted at a collaboration with American rapper Tyga for a new meme coin. However, Tyga has not yet discussed or promoted any crypto token directly on his social media platforms, raising questions about his involvement.
Similarly, Arora has also teased a Ronaldinho Gaúcho meme coin following a cryptic post from the Brazilian footballer.
Gaúcho did not explicitly promote the meme coin.
Yet, Arora’s swift sharing of a contract address following Ronaldinho’s post has led to speculation about the footballer endorsing meme coins.
The alleged mastermind behind multiple pump and dumps has acted as a middleman for celebrities, exploiting their lack of experience with web3.
He launched and promoted the “RICH” token by hacking American rapper Rich the Kid’s X account
Arora then proceeded with other celebrity-themed coins, such as JENNER and a token presale under the guise of Australian musician Iggy Azalea.
All these tokens experienced significant price crashes shortly after launch, with Arora pocketing the profits. The celebrities involved have since distanced themselves from him.
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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June 24, 2024
Pop icon Jason Derulo is embroiled in controversy after promoting a meme coin, JASON, that plummeted in value shortly after its release. Known for his musical performances, Derulo’s involvement in the volatile meme coin market has initiated a broader debate about celebrity endorsements in cryptocurrency.This incident has sparked more discussion than there has been before about the potential risks and ethical concerns associated with celebrities promoting financial products, leading to both monetary losses for investors and reputational damage for the celebrities involved.
Sahil Arora Gets The Blame, But Derulo Is Caught In CrossfireRecently, Derulo took to X to announce the launch of the meme coin JASON to his 3.5 million followers. Regrettably, the coin’s value dipped by more than 72% minutes after its release, causing widespread dismay among investors and fans.
Damn Sahil got me 🤦🏾♂️! That’s ok, that’s motivation to take this all the way! I just bought 20k worth. In this for my fans for the long hall, going to do everything in my power to send this shit to the moon. Updating dex screener shortly. pic.twitter.com/eCJtZlo5yt
— Jason Derulo (@jasonderulo) June 24, 2024
In response to the fallout, Derulo pointed fingers at Sahil Arora, a figure previously linked to cryptocurrency scandals. Derulo, attempting to rectify the situation, tweeted:
“Damn Sahil got me! That’s ok, that’s motivation to take this all the way! I just bought $20,000 worth. In this for my fans for the long haul, going to do everything in my power to send this sh*t to the moon”.
Following that, Derulo addressed the issue in an apology video, expressing his commitment to making the coin’s recovery his “life’s goal.“
❤️🔥 pic.twitter.com/UFPbaFSUeH
— Jason Derulo (@jasonderulo) June 24, 2024
Despite his proactive stance, skepticism surrounds Jason Derulo’s involvement with the JASON meme coin. Influential crypto figures, such as SlumDOGE Millionaire and on-chain detective ZachXBT, have cast doubt on Derulo’s claims.
SlumDOGE Millionaire criticized Derulo, stating,
“Bro made $1 million off his rug and put $20,000 back in the chart lol. You’re not stupid or new to crypto, Jason; you know exactly what was happening. Don’t play dumb now.”
The liquidity of the JASON meme coin is alarmingly low, at approximately $211,000, with around 3,190 holders. This situation mirrors other high-profile crypto scams where initial excitement leads to significant financial losses for ordinary investors.
Projects will throw them high 5 fig – low 6 fig for <10 min of work
— ZachXBT (@zachxbt) June 24, 2024
The crypto community’s reaction has been critical. ZachXBT, known for exposing crypto scams, responded to Derulo’s apology video, saying,
“You are not sorry at all. You have promoted so many crypto scams over the years I have lost track.”
ZachXBT further added, “Projects will throw them high 5 fig – low 6 fig for <10 min of work,” in response to a user questioning why artists, who presumably earn from their music, engage in crypto projects. The user expressed hope for legal consequences for such actions.
This incident involving Derulo is not the first of its kind. The accused developer, Sahil, has launched several other celebrity-associated meme coins.
Notably, Sahil Arora, the alleged fraudster behind recent meme coin scams involving celebrities Caitlyn Jenner and Rich The Kid, has reportedly been banned from X (formerly Twitter). Arora’s handle, “@Habibi_Comm,” was suspended following news of his involvement in pump-and-dump and rug-pull schemes through celebrity crypto tokens.
Both Jenner and Rich The Kid have publicly condemned Arora, with Jenner announcing plans to pursue legal action against him both criminally and civilly.
Jason Derulo is the latest in a long line of celebrities to launch a meme coin on Solana—and likewise to claim they were scammed by the notorious celebrity coin promoter, Sahil Arora. But the token fixer claims it was all part of the plan.
On Sunday, the famed R&B singer posted the address for JASON, a meme coin launched via Pump.fun. Less than seven hours later, Derulo took to Twitter to denounce Arora, claiming that the situation would be the artist’s motivation to “send this shit to the moon.”
But much as he's done with previous coins, Arora claims that the drama was all part of the scheme.
“I orchestrated it lol,” Arora told Decrypt via Telegram.
let me take you dancin @pumpdotfun 🔥
6SUryVEuDz5hqAxab6QrGfbzWvjN8dC7m29ezSvDpump 🕺
— Jason Derulo (@jasonderulo) June 23, 2024
When asked why Derulo is now outing him, Arora replied, “Part of the script.” Decrypt then questioned if he devised a plan for Derulo to call him out as part of the deal. “Something like that," Arora responded.
Derulo did not immediately respond to Decrypt’s request for comment.
He is not the first celebrity to drag Arora’s name through the dirt. Last month, Arora launched a token for media personality and past Olympic athlete Caitlyn Jenner, who then called Arora out claiming that he owes her “lots of money.”
Soon after that, Arora launched a token that he claimed was going to be officially endorsed by rapper Iggy Azalea, but it ultimately wasn’t. In a recent interview, Jenner told Rug Radio creator Mika that her manager warned Azalea's team not to work with Arora.
More recently, rapper Lil Pump launched a token before deleting the promotion tweet, claiming that his social media manager had gone rogue after Arora offered $39,000.
Arora posted a Derulo song title—the same that Derulo later references in his promotion tweet—in the early hours of Sunday morning. Twelve hours later, the token was created. Five hours then passed before the 2010 Teen Choice Award winner posted a tweet promoting the token.
In the five minutes that followed, JASON spiked 1,515% to a market cap of $1.85 million. Then it came crashing back down to a $200,000 market cap. Some Crypto Twitter traders called Derulo out, claiming that he rugged the project.
Bro made $1 million off his rug and put $20K back in the chart lol you’re not stupid or new to crypto Jason you know exactly what was happening, don’t play dumb now.
— SlumDOGE Millionaire (@ProTheDoge) June 24, 2024
Derulo threw his hands in the air, “Damn, Sahil got me,” he said on Twitter, almost sarcastically.
The R&B singer claimed that he was now "Ridin’ Solo," referencing one of his early singles, and that it was now his “life’s goal” to send the token “to the moon.” In turn, the token spiked 736% to a market cap of $5 million in less than two hours.
“Jason has a percentage of [the] supply with him and [has] direct interest to pump this, he’s looking to do an Iggy on this one,” Arora explained, referencing how Azalea’s token saw the most success out of the recent batch of celebrity-launched tokens.
This is all happening while the broader crypto market is sinking. Bitcoin, Ethereum, and Solana have all fallen in the past 24 hours, as defunct Japanese Bitcoin exchange Mt. Gox promises to finally repay creditors a decade after they lost funds.
JASON briefly dipped, but has since surged to a new all-time high price of about $0.011, pushing the token's market cap to over $10 million at present.
Edited by Andrew Hayward
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Shiba Inu’s (SHIB) price is down more than 6% on Friday following notable whale profit-taking activity and controversies surrounding the WATER meme coin and American singer Jason Derulo.
SHIB’s decline potentially caused whale sale SHIB whales could be selling their holdings following the recent decline in the crypto market. Data from Lookonchain shows that a whale wallet moved its entire holdings of 1.08 trillion SHIB (worth $18.4 million) to Binance, potentially making a profit of $8.3 million. The whale initially withdrew the 1.08 trillion SHIB stash from Binance between November and December at an average price of $10.07 million.
Read more: Pepe poised for 20% crash
If the whale wallet had sold during SHIB's yearly high in March, its total profit would have been around $29 million. SHIB's 54% decline in the past four months may have prompted the sale.
However, SHIB is trading close to the key price level of $0.0000018, where investors purchased about 417.43 trillion SHIB tokens. Reclaiming this level could serve as a crucial support for the meme coin.
SHIB Global In/Out of the Money
Lookonchain data also reveals that the team behind the meme coin WATER could be dumping the token. The WATER developer moved 844.44 million WATER to 11 new wallets that didn't participate in the token's pre-sale. These wallets have been selling the token, making about 18,600 SOL worth $2.35 million.
Also reads: Is this the end of the Solana meme coin experiment?
Crypto trader @WazzCrypto earlier revealed that the WATER team was behind the BEER meme coin, which crashed over 80% after insiders began dumping the token.
Meanwhile, celebrity artist Jason Derulo appeared to be showing interest in cryptocurrency again following several celebrity meme coin projects launched in the past two months. A recent video on X in which the celebrity indicated his interest in crypto has come under serious criticism, with crypto analyst ZachXBT commenting with screenshots of past "crypto scams" that Derulo had allegedly promoted.
Read more: Controversy surrounding DJT meme coin continues, Martin Shkreli claims Stone “does not know Barron Trump”
A community note under Durelo's post reads:
"This user is a scammer and has participated in many crypto pumps and dumps."
This information comes from analytics firm Bubblemaps, which has been tracking the token’s transactions.
The controversy started when Derulo, whose real name is Jason Desrouleaux, shared the contract address for the Solana-based JASON token on X (formerly Twitter) on June 23. This announcement led to a surge in trading activity, causing the token’s price to rise sharply and then fall quickly, according to DEX Screener.
Sahil Arora, the token’s co-creator, said the events were part of a planned strategy. However, Derulo’s social media posts suggest a different story. On June 24, Derulo tweeted that he had been scammed by Arora but was still committed to the project, stating:
“Damn Sahil got me 🤦🏾♂️! That’s ok, that’s motivation to take this all the way! I just bought 20k worth. In this for my fans for the long haul, going to do everything in my power to send this shit to the moon. Updating dex screener shortly.”
Bubblemaps’ Findings Bubblemaps presented evidence that contradicts Derulo’s claims of being deceived. The analytics firm found wallets, allegedly linked to Arora, that held half of JASON’s supply and sold almost everything, making a $180,000 profit after Derulo’s initial post about the token.
1/ Jason Derulo (@jasonderulo) has sold $JASON 🚨
Despite his claims, we doubt Jason Derulo got fooled by Sahil
Let’s look at the on-chain evidence 🧵 ↓ pic.twitter.com/e8PebBDRaO
— Bubblemaps (@bubblemaps) June 24, 2024
Bubblemaps also identified a wallet they believe belongs to Derulo, which received tokens directly from Arora’s wallet and sold about $20,000 worth of the token, despite Derulo’s repeated assurances on social media that he wouldn’t sell.
Arora confirmed Bubblemaps’ claim about the wallet linked to Derulo. When asked about Derulo selling his token, Arora responded with a GIF of influencer Hasbulla saying “business, business”, suggesting the sales were part of a larger plan.
Though Derulo didn’t comment on the issue, he continued to promote the token. Bubblemaps noted that he actively engaged his community, hinted at token burns, and started buy competitions after the initial controversy.
The controversy has had a significant impact on the token’s market performance. JASON’s value increased by 175% over the last day, reaching a market capitalization of $7.7 million. However, it has since dropped by 40% from its peak on June 24, which was slightly over one cent.
Rise of “Celebcoins” The cryptocurrency market has seen a rise in “celebcoins”, digital tokens launched or promoted by celebrities. Andrew Tate, Iggy Azalea, and Caitlyn Jenner are among the celebrities who have created their own digital tokens.
Vitalik Buterin, the co-founder of Ethereum, has criticized the trend, warning that these practices can mislead investors and harm the integrity of the cryptocurrency market.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Jason Derulo’s celebrity memecoin JASON has rallied 6000% since its debut. However, the token has been flagged as a scam by Web3 investigator ZachXBT. Another celebrity memecoin saga has hit the market — Jason Derulo’s crypto token dubbed JASON. The American singer continued to promote his JASON coin despite scam calls earlier in the week.
After launching on the 23rd of June, JASON pumped but dumped shortly amidst a flurry of selling that the American singer blamed on his co-creator and serial celebrity crypto scammer, Sahil Ahora.
However, the singer disregarded the scam calls and termed them “mistakes” that weren’t to be repeated. Part of his statement read,
“I made uneducated mistakes in the past that will never happen again. To all the loyal $JASON holders I want you to know that I am going to work on this every day until we beat all celebrity coins and break records.”
The renowned Web3 scam investigator ZachXBT flagged the singer for several “scam” crypto projects in the past year.
Another point of contention was the singer’s doublespeak. The singer had reportedly vowed not to sell JASON to prop it up. Notably, Derulo claimed he wanted JASON to hit a $1 billion market cap.
However, the blockchain analytics firm Bubblemaps noted that one of the wallets linked to JASON was selling after receiving them from Sahil.
‘This address received tokens directly from Sahil’s and has already sold 161 SOL ($20k). Why is he promising never to sell on one wallet but selling with another?’
Additionally, the firm doubted whether Sahil Ahora tricked the singer and noted,
“Derulo’s actions don’t really match someone who got fooled.”
Bubblemaps claimed that Derulo seemed to “know” what he was doing.
Based on ZachXBT and Bubblemaps’ claims, one can’t outrightly mark JASON or the singer as a scam. However, utmost due diligence is key for anyone who wishes to jump onto JASON’s massive rally.
As of press time, per Dex Screener, JASON was up 6,000%, with a market cap of $15 million. The celebrity memecoin had rallied +100% in the past 24 hours alone, indicating massive buying pressure.
Singer-songwriter Jason Derulo got into an online spat with crypto bros this weekend over whether his crypto token is a scam.
“$JASON to a billy,” Derulo tweeted late Saturday, predicting that the value of the Solana-based meme coin inspired by the celebrity would skyrocket. Despite rallying by many multiples in its opening week, the token has since plunged 80% from its June 27 peak, including another 21% on Monday.
JASON wasn’t originally launched by Derulo, but was deployed on Pump.fun, a Solana-based marketplace that claims to prevent rugpulls “by making sure that all created tokens are safe,” with “no presale and no team allocation.”
That hasn’t stopped the JASON token from collapsing lately, nor has it quieted critics in Derulo’s replies, who accuse him of a classic crypto grift.
Rather than quelling their concerns, the superstar said that critics are “spewing nonsense,” spreading fear, uncertainty, and doubt (FUD) and preventing “normal people” from onboarding the space.
This space needs a cleanup crew,” he wrote on Sunday. “My game plan is to onboard and brand build, your game plan is to jerk off in your room and FUD.”
Derulo initially claimed that he was duped into promoting the meme coin by Sahil Arora, who is the alleged mastermind behind a string of celebrity meme coins pump and dumps over the past several weeks. However, Derulo was quickly inspired to “take this all the way,” claiming to buy $20,000 worth of the coin “for the long haul” and purporting to build utility around the token.
“I’m not here to take liquidity out of the market, I'm here to build and bring liquidity into the market,” he said.
The conversation quickly pivoted towards the celebrity’s net worth, and whether this was all still just a pump and dump for a singer in need of more cash. That’s where things got spicy.
“You’re a literal scrub!” Derulo told crypto influencer Crypto Bitlord, who claimed he owned “forgotten altcoin dust” that surpassed the singer’s net worth. “If you met me, I’d either slap the shit outta you or you’d ask for a pic.”
Bitlord then accused Derulo of promoting an “unregistered security” that he got caught dumping on followers.
Derulo maintains that Crypto Twitter is “just hating” on his effort to bring liquidity into the market.
“The grind never stops—if people only knew what we are cooking behind the scenes,” he tweeted on Monday.
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JASON, the Solana-based meme coin of famous R&B artist Jason Derulo, has lost an eye-popping 97%
In July, Derulo implied that the meme cryptocurrency could end up reaching a market capitalization of $1 billion.
However, the token's actual market cap currently stands at just a minuscule $1.23 million.
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It is worth noting that the token was originally launched on Solana-based meme coin factory Pump.fun. Following its launch, the token managed to experience substantial gains. Unsurprisingly, its momentum quickly faded.
The singer wrote an entire essay about how he saw JASON as a way of building "a true community" for the first time in his career.
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Derulo himself has attracted backlash from some members of the cryptocurrency community who are convinced that the singer tried to pull off a typical pump-and-dump scheme.
After being confronted by some cryptocurrency influencers, Derulo urged them to stop spewing "nonsense," adding that he is already rich.
"Humbly speaking I’m rich af and have a name and brand to protect," he said in a social media post.
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The personal net worth of the "Whatcha Say" singer is estimated to be $16 million. He has a total of 14 platinum singles in the U.S.
Derulo is, of course, far from being a crypto newcomer. As reported by U.Today, the famous hip-hop artist claimed that he was "early" to the Shiba Inu craze back in 2021.
During the same year, Derulo joined the "CryptoPunks gang" when the NFT frenzy was reaching its peak.
However, Derulo's foray into the celebrity meme coin scene proved to be quite disastrous.
