Summary
gm, A new Solana-based memecoin called Wolf (WOLF), created by Hayden Davies, co-creator of the controversial Libra token, experienced a dramatic 99% collapse shortly after launch, raising concerns about insider trading and market manipulation. In other news, OKX temporarily suspended its decentralized exchange (DEX) aggregator due to detected misuse by the North Korean hacking group Lazarus, highlighting ongoing security challenges in the crypto space. Meanwhile, Telegram founder Pavel Durov's relocation to Dubai after being granted permission to leave France has sparked discussions about free speech and regulatory pressures in the crypto ecosystem. These events underscore the volatility and evolving landscape of the cryptocurrency market, with implications for both investors and the broader industry.

News Headlines
🚀 Bitcoin Reclaims $80K as Altcoins Show Promise

  • Bitcoin is attempting to break above its 200-day moving average at $84,000, with analysts suggesting it needs to maintain levels above $76,000 to avoid increased selling pressure.
  • Other cryptocurrencies like BNB, TON, GT, and ATOM are showing promising movements, potentially signaling the start of an altcoin season.

📊 21Shares to Liquidate Active Bitcoin and Ether Futures ETFs

  • 21Shares announces plans to liquidate two actively managed ETFs focused on Bitcoin and Ether futures due to prolonged market downturn.
  • This decision reflects broader market challenges and changing investor sentiment in the cryptocurrency futures market.

📱 Solana Celebrates 5th Anniversary with Significant Milestones

  • Solana marks its 5th anniversary, having processed over 408 billion transactions and nearly $1 trillion in value on decentralized exchanges since its launch.
  • Despite market volatility, Solana has achieved notable milestones, including the launch of the Solana Saga crypto phone and inclusion in the proposed US Digital Asset Stockpile.

🎬 Filmmakers Turn to Web3 for Alternative Financing

  • Independent filmmakers are exploring Web3 and blockchain technology to secure funding and connect directly with audiences and investors.
  • This shift represents a potential disruption to traditional Hollywood financing models and empowers diverse filmmakers through decentralized film finance (DeFiFi).

🐋 Bitcoin Whale Places $368M Short Bet Ahead of FOMC Meeting

  • A Bitcoin whale has opened a substantial 40x leveraged short position worth over $368 million, betting on a price decline ahead of key economic reports.
  • This high-stakes move comes just before the Federal Open Market Committee (FOMC) meeting, which could impact Bitcoin's price.

Market Metrics

Fundraising & VC
1. Odin Fun (Strategic, Undisclosed) - Bitcoin pump fun and AMM
2. MemeCore (Strategic, Undisclosed) - EVM-compatible L1 blockchain secured by Proof of Meme

On-chain Data
1. ApeCoin (APE) token unlocked today ($7.95M, 1.95%)
2. Neon (neon) token unlocked today ($9.19M, 22.51%)
3. Nosana (NOS) token unlocked today ($335.24K, 0.5%)
4. Melania Meme (MELANIA) token unlock in 1 day ($17.78M, 4.89%)

Regulatory
🏛️ Bank of Korea Takes Cautious Stance on Bitcoin Reserves

  • The Bank of Korea expressed skepticism about including Bitcoin in foreign exchange reserves, citing volatility and liquidity concerns.
  • This stance contrasts with global discussions on crypto integration in national financial strategies, particularly following U.S. moves towards a digital asset stockpile.

💼 CFTC Wins $2.5M Judgment in Crypto 'Pig Butchering' Case

  • A federal judge ordered crypto platform Debiex to pay $2.5 million for running a romance scam that defrauded customers of $2.3 million.
  • The case highlights the CFTC's efforts to combat fraud in the crypto space, particularly targeting 'pig butchering' schemes.

⚖️ UK Man Loses Appeal in Bitcoin Landfill Case

  • A UK court rejected a man's appeal to search a landfill for a hard drive containing 8,000 Bitcoin, worth about $660 million.
  • The case raises questions about property rights and legal recourse in crypto-related disputes.

🤖 AI Bots Pose Growing Threat in Crypto Cybercrime

  • AI-powered bots are increasingly being used to automate and refine cryptocurrency cyberattacks, posing significant threats to digital asset security.
  • The trend highlights the need for advanced, AI-driven security solutions in the crypto space.

🏠 Four Charged in Home Invasion of Crypto Streamer Amouranth

  • Four suspects were charged with aggravated kidnapping and robbery in the home invasion of streamer Amouranth, who was targeted for her cryptocurrency holdings.
  • The incident highlights the growing security risks faced by high-profile crypto holders.

Technical Analysis
Bitcoin - Bitcoin is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Bitcoin. The currency has support at points 80000 and resistance at points 92600. The currency is assessed as technically negative for the short term.

Ethereum - Ethereum shows weak development in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 2750 points. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. RSI below 30 shows that the momentum of the currency is strongly negative in the short term. Investor have steadily reduced the price to sell the currency, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The currency is overall assessed as technically negative for the short term.

Governance & Code
🏆 Karrat DAO | KARRAT SubDAO with MPH NFT Voting (Active Vote)
- This proposal seeks to establish a SubDAO using 50 million KARRAT from the KARRATco treasury, which would be added to the circulating supply to help maintain quorum as token unlocks increase.

🐒 Ape DAO | Bored Closet - UGC Marketplace (Preliminary Discussion)
- This proposal aims develop of Bored Closet, a user-generated content (UGC) marketplace built on ApeChain.