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Coinbase analyst David Han said the market may be “underestimating” the timing and odds of a potential spot Ethereum ETF approval.The mismatch leaves room for “surprises to the upside,” with no major sources of supply-side overhangs, he added.
Telegram CEO Pavel Durov appeared to endorse the viral web3 clicker game Notcoin following its token launch on the TON blockchain yesterday. Notcoin is an “amazing success story,” reaching “almost $700 million in market capitalization,” Durov wrote in his Telegram channel.
Synthetix’s decentralized stablecoin, sUSD, fell below its $1 peg — reaching as low as $0.92 due to increased selling on decentralized exchanges. The price later recovered slightly to $0.96. Chaos Labs identified that the de-pegging was triggered by a major liquidity provider withdrawing from the sBTC/wBTC liquidity pool on the Curve.
Bitcoin is holding above the $66,000 mark, despite a downturn in Asian and European stocks, and U.S. stock futures.
- 14:38Ton on-chain game Catizen now supports in-game Notcoin paymentsAccording to official news on May 18, the Metaverse cat-raising game Catizen on the Ton chain now supports the Notcoin (NOT) payment method in the game. Users can choose TON or NOT when paying.
- 14:38Spot Bitcoin ETF inflows totaled $939 million this weekGolden Finance reported that data showed that spot Bitcoin ETF inflows totaled US$939 million this week.
- 14:37Crypto funding increases significantly in Q1 2024, startups secure $2.4 billion across 518 dealsChainCatcher news, according to crowdfundinsider, crypto financing increased significantly in the first quarter of 2024, with startups receiving $2.4 billion in 518 transactions. Compared to the previous quarter, invested capital increased by 40.3% and transaction volume increased by 44.7%. The volume and pace of investment is expected to continue to increase throughout the year. Infrastructure startups led the way in funding this quarter, with Ethereum staking platform EigenLayer ($100 million Series B) and fully homomorphic encryption (FHE) development platform Zama ($73 million Series A) raising the largest A funding round. The largest deal of the quarter went to Together AI, a developer of an open source, decentralized cloud platform for large-scale foundational models. The startup raised $106 million in early-stage funding, led by Salesforce Ventures, at a pre-money valuation of $1.1 billion. Median pre-money valuations were $21.8 million in pre-seed and seed stages, $72 million in early-stage and $51.1 million in late-stage, representing year-over-year growth of 85.5%, 148.3% and 7.6% respectively. Deal sizes also reflected rising valuations, with median pre-seed and seed-stage deals of $2.7 million, early-stage deals of $5.0 million, and late-stage deals of $5.8 million, up 24.9% and 25.0% respectively over full-year 2023. % and a decrease of 9.7%.
