Apparently, the plan is nothing if not audacious: seize—pardon me, “raise”—a sum between $200 million and $300 million (my, how one’s petty cash has grown), pile it all into SOL, and become the toast of the Solana staking scene. One presumes a ticker-tape parade is in order, or at least a small celebratory GIF. 💃🪙
Finalized in December 2024, the rule sought to widen broker reporting under Section 6045 of the tax code to include decentralized finance (defi) and non-custodial players. It immediately drew fire from industry advocates and lawmakers who said it went too far and threatened user privacy.
But, while BTC and ETH are hogging the headlines, some of the lesser-known coins are making rather impressive moves, if I may say so. Let’s take a gander, shall we?
In the latest attempt by blockchains to outdo each other (probably with the same level of subtlety as wizards showing off their pointy hats), Sei has announced it’s adding native USDC and CCTP V2 support. Translation: users can now enjoy the thrill of handling the world’s largest regulated stablecoin, as well as rattling funds across not one, not two, but thirteen—yes, THIRTEEN—chains simultaneously. Because who needs sleep?
And it’s not just Bitcoin having a moment. Altcoins are like, “Why not join the fun?” ETH’s climbing above $2,800, and DOGE’s up by over 5.5%. It’s like a crypto dance-off, and everyone’s winning. 💃🕺
In this dazzling display, our brave little token scaled its beanstalk up to $3.24 from $2.94—a hop, skip, and a jump of $0.34, with 11.5% volatility to keep everyone dizzy and guessing. At the mystical $2.99 and $3.10 realms, volume erupted; think avalanche, but with more spreadsheets. Some say institutions were quietly collecting at these enchanted price hills, as if storing acorns for the next crypto winter.
To navigate this brave new world, GameSquare has partnered with Dialectic’s Medici platform, which uses fancy machine learning to target yields between 8% and 14%. Let’s just say, that’s a lot more than what your bank account will offer you if you leave your money there to slowly rot. CEO Justin Kenna, sounding like every CEO ever, says the goal is to generate “strong, risk-adjusted yields” while reinvesting the returns into more ETH purchases, share buybacks, and internal growth. Sounds like the corporate equivalent of buying low, selling high, but with more buzzwords. 🤑
Ethereum (ETH) is on the rise, proudly puffing itself up by a solid 4.5%. For the moment, it’s the darling of the crypto scene, a symbol of hope for those who believe in the almighty power of altcoins. But don’t get too comfortable, because this might just be the calm before the storm.
On July 10, somewhere amid the endless churning of the New York Stock Exchange—where fortunes are made, unmade, and occasionally pickpocketed—BIT Mining announced its metamorphosis: a leap from reliable (dare one say tediously so) Bitcoin roots, to assembling a grand treasury, drenched in SOL. All for the modest sum of $300 million, which, in today’s world, might fetch a small dacha in the countryside.
The breakout took shape between 18:00 and 21:00 UTC on July 9, when ICP surged from $4.95 to $5.19. Volume peaked at 886,937 units at 19:00, far exceeding the 24-hour average of 388,671 units, according to CoinDesk Research’s technical analysis model. This strong inflow of buying interest, like a flood of penitents to a holy shrine, established a new resistance band around $5.22, which traders are now watching closely for potential continuation, the model showed. 📊