WTF happened in crypto last week 🤔

Bonus: Funding Round 🆙

September 09, 2024

GM Builders. 🚧 

Welcome back to a fresh edition of the BW3 newsletter, an edition so fresh you want to chop it up and make an Ethereum salad. 🥗 

Table of Contents

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What happened in Crypto Last Week 😅 

  • Bitcoin’s Sudden Fall 📉 
    Bitcoin took a nosedive last week, with prices dropping to $52,690 before a slight recovery to $53,516. This 5% dip triggered "extreme fear" in the market greed index.

    • Why this matters? Analysts are speculating that the upcoming U.S. elections, particularly a potential Trump victory, could impact the crypto landscape positively. The question on everyone's mind: Is this the end of crypto's recent surge or just a temporary shake-up? 🧂 

  • Ethereum's Struggles Continue 🫠 
    Ethereum also faced a rough week, dropping to a yearly low of $2024. Vitalik Buterin, Ethereum’s founder, dismissed accusations of a sell-off, attributing his transactions to donations.

    • Why this matters? Ethereum's daily revenue has seen a steep decline, plunging from $35M in March to just $200,000 last week. In parallel, the U.S. stock market has seen a staggering $1.8 trillion outflow in the past 7 days. 📉 

  • DeFi Under Attack – $27M Penpie Hack 🖥️ 
    The decentralized finance sector took another hit as Penpie was hacked for $27M through a reentrancy attack.

    • Why this matters? The Penpie team is now offering a $2.7M bounty for the return of the funds. This event has renewed concerns about security vulnerabilities in DeFi protocols. 🥧 

  • TRON Making Waves in NFTs 🖼️ 
    As the NFT market eyes a revival, TRON is positioning itself to challenge Ethereum’s dominance in the space.

    • Why this matters? TRON’s success with meme coins has led to speculation that it may lead the next NFT boom. Can TRON ignite a new "NFT season" and shift the balance of power away from Ethereum?

  • Telegram’s CEO, Pavel Durov, Speaks Out 🗣️ 
    After his recent arrest, Telegram’s CEO, Pavel Durov, criticized French authorities for their approach.

    • Why this matters? Durov emphasized that platform creators shouldn't be held responsible for the illegal actions of others, warning that such practices could stifle innovation. He was released after posting a $5.5M bail.

  • Crypto Adoption Expands 💪 
    Mastercard has launched a new crypto debit card across Europe, allowing users to transact directly from their self-custodial wallets.

    • Why this matters? This move represents a significant step toward large-scale crypto adoption, offering users greater control over their assets without the need for third-party involvement.

What to Watch This Week 👀 

Strap in, crypto watchers, because this week’s lineup is packed with action!

From major conferences to token launches and staking proposals, the next seven days could be a rollercoaster ride for these projects. 🎢 

So grab your popcorn and keep your trading fingers ready—here's what to watch in the world of Web3. 🍿 

  • $BTC (Bitcoin)
    Keep an eye on Bitcoin as the U.S. CPI (Consumer Price Index) data is set to be released on Sept. 11. This key economic indicator could influence BTC’s market movements.

  • $SOL (Solana)
    Solana’s highly anticipated Breakpoint conference is just 12 days away. Expect momentum to build leading up to the event, as major announcements could be on the horizon.

  • $DEAI (Zero1 Labs)
    Zero1 Labs will reveal its technical roadmap next week, and rumors suggest some major surprises. This could spark interest and price movement for DEAI.

  • $SUSHI (Sushiswap)
    Sushiswap is set to launch its Memecoin Launchpad on Sept. 10, which could bring attention and new users to the platform. Watch for any price shifts as the launch approaches.

  • $STRK (Strike)
    The STRK staking proposal is expected to go live next week, which may drive significant interest in the token. Keep this on your radar as staking announcements often bring volatility and price action.

  • $POL (Polygon)
    Binance will list Polygon’s new token, POL, on Sept. 13. New listings can often lead to increased attention and trading volume, so this one is worth watching closely.

Whether you're a diamond-hander or just here for the memes, this week’s crypto watchlist has a little something for everyone. 💎 

Will Solana steal the spotlight at Breakpoint? 🔦 

Will SUSHI's Memecoin Launchpad bring in the big fish? 🐟️ 

Only time (and the charts) will tell. ⏳️ 

Keep your eyes peeled and your wallets close, because things are about to get spicy! 🌶️

Funding Round Up 💸 

The crypto space continues to expand with fresh project funding across gaming, AI, DePIN, and more securing major investments.

With a total of nearly $85M in funding just this week, it's clear that Web3 continues to capture the attention and wallets of major investors. 🤑 

Let’s take a quick jump into some of the latest funding rounds that are driving the innovation behind decentralized ecosystems and infrastructure. 🦘 

  1. Balance (E-PAL)

    • What they do: A platform in the gaming and AI space, also focusing on Play-to-Earn (P2E).

    • Funding: $30M

    • Funded by: a16z, Galaxy Interactive, Animoca Brands, and others.

  2. Puffpaw

    • What they do: Berachain ecosystem project in gaming and DePIN (Decentralized Physical Infrastructure Networks), also involving Play-to-Earn (P2E).

    • Funding: $6M

    • Funded by: Lemniscap, Volt Capital, Spartan, and others.

  3. CryptoHunter World

    • What they do: Gaming platform with Play-to-Earn (P2E) and Move-to-Earn (M2E) models.

    • Funding: $2.80M

    • Funded by: IOST, HG Ventures, and others.

  4. Hypernative

    • What they do: Provides data services and security solutions.

    • Funding: $16M

    • Funded by: Quantstamp, Bloccelerate, boldstart, and others.

  5. Onocoy

    • What they do: A project in the DePIN space (Decentralized Physical Infrastructure Networks).

    • Funding: $940k (September 2024)

    • Funded by: Smart Island.

  6. Treble Technologies

    • What they do: Focuses on music tech innovations.

    • Funding: $12.16M (Series A, September 2024)

    • Funded by: Kompas, Frumtak Ventures, European Investment Bank, and others.

  7. IDA (HKDA)

    • What they do: Involved in finance, banking, payments, and stablecoin development.

    • Funding: $6M (Seed round, September 2024)

    • Funded by: CMCC Global, Hashed, Hack VC, and others.

  8. TrendX

    • What they do: AI analytics and data service provider.

    • Funding: $5M (Series A, September 2024)

    • Funded by: AZH, Coinstash, Frontier Research, and others.We’re excited to show you the future of privacy, ownership, and digital assets!

As the landscape evolves, these new projects will be at the forefront of reshaping how we think about gaming, AI, finance, and decentralized systems. Keep an eye on these names—they’re leading the way into the future of digital ownership and privacy.

MEME CITY 🏙️ 

Until next week, Builders! 🏗️ 

Keep grinding and stay ahead of the curve. 🪝