Cryptonews

Ah, Holesky! Launched back in September 2023, it was a bright-eyed and bushy-tailed testnet meant to give developers a safe space to experiment with Ethereum blockchain’s shiny new features and services. Its primary role? To give staking infrastructure and validator operations a nice little stress test. And what a test it was! Much like a carriage ride through a muddy field, it was bumpy, but ultimately, it did the job.

The company, not content with just sitting on a pile of digital gold, also issued 11.5 million new shares when an investor, the ever-so-cleverly named Evo Fund, decided to use special buying rights called warrants. For this privilege, Evo Fund forked over about $65.73 million. Metaplanet, in turn, used this cash to pay back $20.4 million in bonds it had previously issued. It’s like paying off your credit card with another credit card, but somehow it works! 🤷‍♂️

Now, ol’ Justin Sun didn’t just dip his toes-he cannonballed into the pool, claiming a cool 600 million WLFI tokens, worth a jaw-dropping $200 million at the TGE. That’s 3% of the 20 billion unlocked tokens, making him a big fish in this crypto pond. 🤑 And get this: Arkham Intelligence reckons he’s sitting on nearly $1 billion worth of the stuff, acquired from who-knows-where. Before the TGE, WLFI was already trading like hotcakes in derivatives markets, surging 500% just before the big event. Talk about a gold rush!

The market is as unpredictable as a cat on a hot tin roof, bouncing between $107.24 and $111.90. The daily ATR of $5.80 is a reminder that this is no sleepy market – brace yourselves for some wild swings. Analysts, with their crystal balls (read: charts), believe it’s all about short-term positioning, nothing more.

But wait, there’s more! It turns out that 43% of all crypto activity in the region is now dominated by stablecoins. That’s like 43% of the local currency going straight to the digital wallet, bypassing the usual “volatility” dance. Other countries are getting in on the action too, with South Africa, Kenya, Ethiopia, Ghana, Uganda, and Zambia all reporting increasing adoption. South Africa, in particular, has been seeing a 50% monthly growth in stablecoin transactions since October 2023. Apparently, folks there are desperate for a little stability in their lives. Who can blame them when the local currency is as predictable as a soap opera plot twist? 📈

In the vast expanse of the crypto universe, Ethereum (ETH) has been observed to follow the cosmic tides of global M2 liquidity. According to the chart shared by the intergalactic analyst Merlijn The Trader, the price of ETH has been rising in tandem with the broader liquidity growth.

Matrixport, that clever little research firm, has mused that this latest retreat might just be the opening act, not the finale. Seasonal pressures and the tantalizing promise of U.S. interest rate cuts seem to be the puppeteers pulling Bitcoin’s strings-though, as they warn, the puppet show might have a few more strings than we’d wish. 🎭📉

Gold, that old glutton, even outshone the Euro in 2024, becoming the second-biggest reserve asset. But here’s the kicker: it’s not just mining anymore. Blockchain’s digital pickaxes are chipping away at the gold standard. Tokenized gold? It’s got a $2.59 billion pile of cash and a daily trade volume that could make Wall Street blush. Tether Gold and PAX Gold are the new sheriffs in town, trading like they’re selling moonshine in a speakeasy.

Loxley Fernandes, the man behind the curtain (or perhaps the blockchain), declares Myriad is “building the rails” for prediction markets to evolve from crypto’s eccentric cousin to DeFi’s new heir. One might call it alchemy, if alchemists accepted USDC instead of gold leaf.

Well, worry not, dear reader. BeInCrypto has meticulously dissected three top altcoins that seem to be holding their own-and might just have a shot at a glorious new ATH in September.