The Web3 Studios Newsletter

News and Trends - 6/27/24

Web3 Studios, LLC
June 27, 2024

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Market Trends

Solana Foundation Launches Social Media Features Aimed at 'Putting Crypto Back in Crypto Twitter' - Decrypt

Solana users and developers can now transact on websites directly with Solana's new Actions and Blinks features.

decrypt.co/236854/solana-foundation-launches-new-feature-social-media

Bitwise CIO predicts spot Ethereum ETFs will attract $15 billion of net inflows in 18 months

Bitwise CIO Matt Hougan said U.S. spot Ethereum ETFs could attract $15 billion worth of net inflows in their first 18 months.

www.theblock.co/post/301809/bitwise-cio-predicts-spot-ethereum-etfs-will-attract-15-billion-of-net-inflows-in-18-months

Ignore the Ethereum bears, says Bernstein — firms are ‘aggressively’ pursuing ETFs

Crypto natives' Ethereum ETF expectations "are overinflated and disconnected" Andrew Kang, managing partner at investment firm Mechanism Capital, wrote on X.

www.dlnews.com/articles/markets/ignore-the-ethereum-etf-bears-says-bernstein-heres-why

Ava Labs bets web3 will explode in $20 billion K-pop market

www.dlnews.com/articles/web3/ava-labs-bets-web3-will-explode-in-20-billion-k-pop-market

Solana accelerator Colosseum raises $60 million for its first fund

Colosseum, a Solana-focused crypto accelerator, has raised $60 million for its first fund to back early-stage startups.

www.theblock.co/post/301795/solana-accelerator-colosseum-first-fund

Ethereum hits longest inflationary period since Merge

The Merge was meant to turn ETH into ultra-sound money, but it’s turning out more ultra-elastic these days.

blockworks.co/news/ethereum-longest-inflationary-period-since-merge

Bitcoin Mining Profitability Is Near an All-Time Low—Why? - Decrypt

The halving and falling Bitcoin prices are squeezing miner revenues, but mining company stocks are still doing well.

decrypt.co/237209/bitcoin-mining-profitability-near-all-time-low-why

Why Coinbase Is Suing the SEC and FDIC Over Public Records - Decrypt

Coinbase has sued the FDIC and SEC over their refusal to provide documents on Pause Letters and investigations.

decrypt.co/237257/why-coinbase-is-suing-the-sec-and-fdic-over-public-records

VanEck files for Solana ETF in the US, claiming SOL is a commodity

Fund manager VanEck filed for an ETF that would track the price of Solana, according to a filing released on Thursday.

www.theblock.co/post/302295/vaneck-files-for-solana-etf-in-the-us-claiming-sol-is-a-commodity

Tech Trends

L2s have gotten hyperfocused — that's bad news for Web3

Opinion: It may be counterintuitive that a high amount of focus on a technology would lead to security risks — but it’s true.

blockworks.co/news/l2s-hyperfocus-l1-web3

Here’s why Solana-based Hivemapper thinks it can beat Google Maps

Hivemapper claims to be at least 10 times faster than Google Maps in refreshing maps.

www.dlnews.com/articles/defi/solana-depin-project-hivemapper-aims-to-beat-google-maps

Why Did OpenAI Just Acquire a Screen-Sharing Startup? - Decrypt

OpenAI acquires collaboration software developer Multi which will join OpenAI’s Desktop division.

decrypt.co/236978/openai-acquires-multi-screen-sharing-startup

OpenAI Delays Release of Controversial Voice Feature, Sparking Backlash - Decrypt

OpenAI postponed the release of its advanced Voice Mode for ChatGPT Plus users —and they are not happy

decrypt.co/237218/openai-voice-mode-delay-backlash

Inside Hut 8’s AI ambitions after securing $150M in funding

The high-performance computing market is big enough for multiple bitcoin miners to win there, Hut 8's CEO says.

blockworks.co/news/hut-8-mining-ceo-interview

Bitcoin startup Rebar raises $2.9M to build MEV products

Maximal extractible value is becoming possible on Bitcoin due to the rise of more complicated transaction types like Ordinals and Runes.

www.theblock.co/post/302041/bitcoin-startup-rebar-raises-2-9m-to-build-mev-products

This Worldcoin Competitor Is Using ZK Proofs to Preserve Anonymity - Decrypt

Rarimo has launched RariMe, a Worldcoin competitor that uses zero-knowledge proofs to verify identity and preserve anonymity.

decrypt.co/237250/this-worldcoin-competitor-is-using-zk-proofs-to-preserve-anonymity

Why reports of the death of NFTs are greatly exaggerated

Despite declining trading volumes, experts argue that NFTs are not dead but maturing. The focus is shifting toward sustainability, real-world utility, and broader technological integration, indicating a healthy evolution of the market.

cointelegraph.com/news/nft-volumes-decline-market-matures-experts-say