News
Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.
Share link:In this post: SUI open interest continued to grow above $256M. The Sui network is highly active, with more than 400K reported daily wallet interactions. Sui is a VC-backed project, with 75% of the tokens still locked and waiting to enter the market.
Telegram-based Hamster Kombat said it has turned down multiple VC offers and has no external investors. The Web3 game claims it rejected VC offers to protect its players from becoming exit liquidity. Still no information on when the HMSTR airdrop will happen.
Grayscale’s two spot Ethereum ETFs posted no flows on Monday.
Share link:In this post: Ethereum (ETH) increased its inflation to 0.67% as network usage slows down. An additional 57,000 ETH increased the supply in the past month. L2 have a mixed effect on Ethereum, by taking away some of the traffic, but raising demand for blob payments.
The U.S. Producer Price Index (PPI) only went up by 0.1% in July, showing that inflation is slowing down more than expected. Investors are watching the Fed closely, wondering if they’ll cut interest rates in September as inflation cools off. Major stock indices and Ethereum prices are on the rise, with ETH seeing big inflows into spot ETFs.
Share link:In this post: Polymarket and Perplexity are partnering to integrate advanced news summarization. The collaboration will enhance user engagement with features like customizable pages. Polymarket is seeing record growth due to interest in the US presidential election.
- 21:21sns.sol Airdrop Now Available for ClaimingOn May 13, Solana domain service provider sns.sol (formerly Bonfida) announced on social media that the airdrop claim is now open. The total amount of this airdrop is 2 billion SNS, and the claim deadline is August 11.
- 21:12Abraxas Capital purchased 33,482 ETH again in the past 12 hoursAccording to a report by Jinse Finance, monitored by Lookonchain, Abraxas Capital has purchased an additional 33,482 ETH ($84.7 million) in the past 12 hours, bringing its total purchases over the past 6 days to 211,030 ETH ($477.6 million).
- 21:12Sky Q1 Losses $5 Million Due to 102% Increase in Incentive USDS Interest ExpensesAccording to a report written by contributors from Steakhouse Financial, Sky (formerly MakerDAO) incurred a loss of $5 million in the first quarter of this year due to a doubling in interest payments to token holders. This loss stands in stark contrast to the previous quarter when Sky achieved a profit of $31 million. The primary reason for the 102% increase in interest expenses is Sky's decision to encourage users to adopt its newly launched stablecoin, Sky Dollar (USDS), with higher incentives, replacing the existing DAI.