Solana Joins Crypto's Elite Trio?🥇🥈🥉

In today’s edition: 🌐 Base nears 6M monthly users, 🚀 Solana’s daily transactions surge, 💳 Coinbase and Stripe partner for USDC support, and more!

June 28, 2024

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What’s Poppin’?

by Sage Young and Sam Sriram

Analysts at GSR think that not only is it likely that a Solana ETF will be approved, but the impact on the digital asset might be the largest yet.

Base’s monthly active addresses from April to May jumped by less than 18,000, whereas the difference between May to June is projected to be more than 2.2 million addresses. Meanwhile, Coinbase sees eight million monthly transacting users on average.

Wallet transfers as a category dominated Solana gas consumption over the past 24 hours, totaling over $1 million, which exceeded the combined gas usage of DeFi, memecoins, and infrastructure protocols.

Coinbase has partnered with Stripe to launch three integrations aimed at increasing onchain adoption and providing faster financial infrastructure.

Daily Bits… ✍️✍️✍️

  • 📊 VanEck filed for the first US-based Solana ETF, aiming to list it on the Cboe BZX exchange, pending SEC approval.

  • ⚖️ Coinbase is suing the SEC and FDIC after being denied Freedom of Information Act (FOIA) requests for documents related to Ethereum and past investigations.

  • 🗳️ On Polymarket, there's a 39% chance that President Biden will drop out of the 2024 election, following a debate that raised concerns about his performance.

  • 💸 Kraken co-founder Jesse Powell donated $1 million, mostly in ether, to Donald Trump’s presidential campaign, joining other crypto leaders in supporting the candidate.

  • 🧑‍⚖️⚖ The U.S. Supreme Court ruled that the SEC can no longer use in-house judges for enforcement, citing a violation of the constitutional right to a jury trial.

The $$$ Corner…

  • 🤝 Crypto miner CleanSpark acquired GRIID Infrastructure in a $155 million deal, expecting to boost its operational power to 100 MW by year-end and targeting 400 MW by 2026.

  • ⚙️ MegaLabs secured $20 million in funding, led by Dragonfly Capital, to develop its "real-time" Ethereum scaling protocol, aiming to launch a testnet soon.

  • 📈 Bitcoin analytics startup Rebar raised $2.9 million to develop MEV products, aiming to improve transaction efficiency and value distribution on the Bitcoin network.

What Do You Meme?

📈 Your Market Update 📉

  • BTC is up 0.6%, trading at $61,437

  • ETH is up 1.4%, trading at $3,440

  • BTC dominance: 50.32%

  • Crypto market cap: $2.41T

*All data as of today, 06:55 am ET. Source: CoinGecko

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