Selected News
Plasma: Deposit limits will no longer increase, with a total cap of $1 billion
Infini announces the cessation of Infini Card services, core account functions remain unaffected
pump.fun has sold approximately 4.1 million SOL since May 19, 2024, worth $741 million
Trending Topics
Source: Overheard on CT (tg: @overheardonct), Kaito
PUMP
Today's discussion about PUMP centers on the suspension of PumpFun and its founder Alon's account on the X platform, raising widespread concerns and speculation within the crypto community. Many tweets expressed anger and called for the restoration of PumpFun's account, while others discussed the broader implications of such suspensions on the crypto ecosystem. Additionally, whether the upcoming PUMP token issuance will be affected has become a focal point, with some users drawing comparisons to similar account bans in history.
TRX
Today's discussions related to TRX mainly focus on Tron’s plan to go public in the U.S. through a reverse merger with Nasdaq-listed SRM Entertainment, with Eric Trump serving as an executive. This move comes after the SEC suspended its investigation into founder Justin Sun. Reportedly, the merger is supported by an investment bank closely tied to Trump, and the merged Tron Inc. will emulate MicroStrategy by holding a large amount of TRX assets. This news has sparked extensive discussions about its political and financial implications.
HYPERLIQUID
Discussions around HYPERLIQUID focus on its recent all-time high and its technical architecture, including HyperBFT, HyperCORE, and HyperEVM. Some question the risk-reward ratio at its current market cap, while others emphasize its rapid growth potential to surpass ETH and SOL. The community is particularly excited about the composability and parallel processing capabilities offered by HyperEVM, believing it could revolutionize on-chain finance. Additionally, the project's avoidance of traditional venture capital and its innovative decentralized finance approach have also become topics of discussion.
XRP
XRP is experiencing a surge in attention today due to several positive developments. The most notable is the approval of the first XRP ETF launched by Purpose Investments, set to list on the Toronto Stock Exchange on June 18. Furthermore, the U.S. has become the first country to use XRP for oil trading, and USDC has also been launched on the XRP Ledger, indicating its growing adoption. Discussion topics also include potential listing plans for XRP and its role in the stablecoin ecosystem, as major companies like Amazon and Walmart explore stablecoin integration.
NOYA
NOYA has gained significant attention on Twitter for launching the "Yapper Ranking," which allocates 5% of tokens to active participants, including Yappers, depositors, liquidity providers (LPs), and referrers. The project utilizes ZKML technology and AI agents to manage cross-chain liquidity, providing additional rewards for $KAITO holders. The community is actively engaging in discussions about its potential in the DeFi space and the latest developments in technology and strategic partnerships.
Featured Articles
"I measure a person by how much money they make," said Justin Sun eight years ago when he returned to China to start his business. He said this and indeed acted on it. Since becoming the legal representative of "Accompany Me App" in 2014, the pragmatic and almost ruthless Justin Sun has always harbored a dream of a business empire, aiming to maximize the use of rules, leverage resources, and win his own game. Eight years later, Justin Sun has indeed realized nearly every businessman's greatest dream—going public. His latest deal is worth $100 million, involving a Nasdaq-listed company named SRM Entertainment, through a reverse merger, successfully allowing Tron to go public. At 35, Justin Sun is now the head of a public company, and this post-90s entrepreneur also has seven or eight other notable companies and projects under his belt.
Last night, the official Twitter account of Pump.fun and the account of its founder Alon were suspended. As of now, multiple crypto projects and founders, including Gmgn and Bullx, have had their accounts suspended without clear reasons given. In the face of this increasingly stringent crackdown, the value of decentralized social networks is being reassessed. On-chain social protocols like Farcaster and Lens Protocol are being frequently mentioned. However, these protocols are still in their early stages, and their user experience and mainstream influence are far from that of X, making it difficult to form a substitute in the short term. Nevertheless, as content creators face a severe regulatory environment and struggle to escape the content platform trap, it seems a foreseeable trend for them to move to decentralized social platforms and gain more freedom in account ownership.
On-chain Data
On June 17, the on-chain capital flow situation
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