Author: John Smith

Avalon Labs has burned 80 million AVL tokens, permanently removing them from circulation in a move that reduces the circulating supply by roughly 44%. Announced on X on June 9, the tokens, worth an estimated $16 million, were mostly unclaimed airdrop allocations from a March 2024 campaign. Avalon framed the burn as the start of a “deflationary cycle” that aligns with long-term incentives. Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply. These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth…

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Unilabs’ unique AI-backed DeFi asset management platform sparks presale demand; Dogecoin prepares for a rebound, while Cardano tumbles 10%. Despite the bold Dogecoin forecasts and the soaring Cardano price, Unilabs Finance is in the spotlight. Popular for its novelty, the pioneering AI-backed DeFi asset manager is among the new DeFi protocols to watch out for this year.  At the heart of the ecosystem will be the UNIL token, currently in presale and selling out fast. Over $2.2 million has…

Internet Computer’s ICP token rallied for the fourth day, outperforming the broader crypto market amid hype over the announcement of its new AI-driven platform, Caffeine. According to data from crypto.news, Internet Computer (ICP) rose 8% to an intraday high of $5.66, pushing its market capitalization above $3 billion. The token is now trading 32% above its year-to-date low. Today’s gains, supported by a notable increase in daily trading volume, came as the broader cryptocurrency market slumped, with total market capitalization falling 2.2% to $3.4 trillion over the past 24 hours. ICP’s recent rally was driven by excitement around Caffeine, an…

Bitcoin-focused decentralized finance platform Alex Protocol has launched a Treasury Grant Program to reimburse users affected by a recent exploit that resulted in over $8 million in losses. According to a June 8 announcement, the program will provide financial support through a combination of original tokens and USDC equivalents, depending on the type of asset lost. Affected users must connect their impacted wallet to the official grant interface, review their specific compensation offer, and sign a confirmation message to accept the terms and conditions. Alex Protocol was exploited on June 6, targeting several liquidity pools on the platform. Alex Protocol…

Founder and CEO of ARK Investment Management, Cathie Wood believes Bitcoin’s value will reach at least $1.5 million by the time 2030 rolls around, growing by 15x from its current price. In a recent interview on the YouTube channel The Diary of a CEO, Wood breaks down the main reasons why she believes BTC (BTC)’s value is bound to skyrocket to at least $1.5 million within the next few years. The ARK Investment CEO mentioned several core pillars which make up the “building blocks” of BTC’s growth in the market. One of the major drivers is institutional investments from corporate…

Ethereum’s price is consolidating near $2,500 as institutions quietly ramp up their exposure to ETH. As of press time, Ethereum (ETH) is trading at $2,492, down 0.9% over the last day. The price is close to the lower end of its recent 7-day range between $2,419 and $2,666 and. Market activity appears to be picking up steam despite the slight decline. Ethereum’s 24-hour trading volume has increased by more than 25% to $11.42 billion, indicating a resurgence of investor interest. In line with this, Coinglass data shows that derivatives volume increased 21.9% to $37.36 billion, but a 1% decline in…

Sui network-based Cetus Protocol has relaunched with a new roadmap, open-source plans, and a compensation programme following a $223 million exploit. The decentralized exchange unveiled its post-relaunch strategy in a June 8 blog post, outlining measures to enhance protocol security, upgrade monitoring systems, and transition toward full open-sourcing. A newly structured white hat bounty programme has also been introduced to support community-driven security efforts. According to the team, all affected CLMM pools have now been replenished using a combination of recovered assets, treasury funds, and a $30 million loan from the Sui Foundation. Liquidity providers will regain access to their…

Ripple is deepening its commitment to Asia’s Web3 ecosystem with the launch of a new grant initiative aimed at promoting innovation in Japan’s blockchain sector. The company announced on a June 9 blog post that it has partnered with Web3 Salon, a project supported by Japan’s External Trade Organization and powered by the Asia Web3 Alliance Japan, to provide targeted support for startups building on the XRP (XRP) Ledger. Through this program, Ripple will offer up to $200,000 per project over the next year. The grants will go to startups working on use cases like decentralized finance, tokenized real-world assets,…

As more users report missing token balances after completing Know Your Customer verification processes and mainnet migration, Pi Network has come under fire from its community.  The backlash erupted after Pi Network (PI) issued new wallet security guidelines, urging users to protect their seed phrases. Rather than easing concerns, the update sparked renewed outrage. Many users, who claim they followed every instruction from the Pi Core Team, say their wallets still show zero balance. Several posts on X highlight blank wallets, prompting allegations of technical failure and even accusations of a scam. One particularly vocal user, Haifeng Chen, summed up…

XRP is recovering from recent lows but weakening XRP Ledger metrics may indicate further challenges. Trading at $2.25 as of press time, XRP (XRP) is up 3.8% over the last day. The price is near the upper end of its weekly range between $2.09 and $2.29. With 24-hour volume reaching $2.65 billion, trading volume is up almost 180% from the day before, reflecting growing trader interest. Rising volume alongside price gains often hints at stronger conviction among market participants. Coinglass data also reveals a spike in derivatives activity. XRP’s futures volume has increased 201.98% to $4.82 billion, while open interest has…