ToE's Weekly Highlights #70

JUST IN: Roaring Kitty sued for securities fraud

Solana introduces ZK compression and LayerZero sparked debate for Proof-of-Donation

GambleFi market coming back again, Blueberry Club got swept hard

Despite the sideway market, here are 72 alpha project finds 🧵👇

Weekly Updates

Weekly updates by @TheDeFinvestor

Narrative Overview

Overview

Q2 2024 has been an eventful period for the cryptocurrency market, characterized by significant milestones and evolving market dynamics.

Key events such as the

• Bitcoin halving, the launch of the Runes Protocol, and major developments within the Ethereum and Ton ecosystems have shaped the market.

• The meme sector's ongoing impact, along with significant TGEs and airdrops, reflects the market's dynamism and diversity.

• Additionally, the emerging trends in SocialFi and GameFi sectors highlight the expanding applications of blockchain technology.

Bitcoin Halving

The Bitcoin halving event was a major highlight of Q2 2024. This event, which reduces the reward for mining new blocks by half, is a critical mechanism in Bitcoin's monetary policy.

Leading up to the halving, Bitcoin achieved a new all-time high of $73,700. Post-halving, the price has entered a consolidation phase, stabilizing within the $60,000 to $71,000 range. This period of consolidation is typical following a halving, as the market adjusts to the new supply dynamics.

Ethereum Ecosystem Developments

The Ethereum ecosystem has experienced a significant revitalization this quarter, driven largely by the partial approval of the Ethereum Spot ETF in the United States. This approval has renewed investor confidence and attracted institutional interest, resulting in increased activity and development within the Ethereum network.

Ton Ecosystem Growth

The Ton (Telegram Open Network) ecosystem has garnered considerable attention in Q2 2024. Notable increases in Total Value Locked (TVL) and other on-chain metrics indicate robust growth and expanding infrastructure.

Meme Sector Highlights

The meme sector continues to capture significant market interest and capital flows. This quarter featured a variety of themes, including celebrity, Pepe, and election-related memes.

The sector's unique ability to engage the community and generate substantial market activity underscores its enduring role within the broader cryptocurrency landscape.

Significant Token Generation Events and Airdrops

Q2 2024 has been marked by several notable token generation events (TGEs) and airdrops, including those from Wormhole, Merlin Chain, zkSync, and LayerZero.

Emerging Trends in SocialFi and GameFi

The SocialFi and GameFi sectors have shown prominent trends this quarter. Initiatives such as Farcaster and Lumiterra have gained traction, emphasizing the growing integration of blockchain technology into social and gaming platforms.

Other updates

Project Updates

• Sportsbet.io Exploited: Sportsbet.io faced an exploitation incident.

• Farcana Wallet Compromised: Farcana's market-maker wallet was compromised.

• Kraken vs. Certik Drama: Ongoing drama between Kraken and Certik.

• Mysten Labs' Walrus: Mysten Labs unveils Walrus.

• Binance's HODLer Airdrops: Binance launches HODLer Airdrops for BNB holders.

• LayerZero's Proof-of-Donation: LayerZero introduced Proof-of-Donation.

• Ether Fi Buyback Proposal: Ether Fi proposes to buy back tokens from protocol revenue.

• Solana's ZK Compression: Solana introduces ZK Compression.

• 0xFluid's Fluid DEX: 0xFluid announces Fluid DEX.

• Pudgy Penguins' IglooInc: Pudgy Penguins, in collaboration with Overpass IP, introduces IglooInc.

• Binance Labs Investment: Binance Labs invests in Infrared Finance.

• Dexscreener's Moonshot: Dexscreener launches a competitor to pump.fun called "Moonshot."

• Solana's Actions and Blinks: Solana introduces new features: Actions and Blinks.

• Blast L2's Foundation: Blast L2 introduces the Blast Foundation.

On-Chain Sleuthing

• Big Whale in Blueberry Club: A large whale is bidding on Blueberry Club NFTs, signaling potential growth for GBC floor prices.

• $FU Money GameFi on Arbitrum: FU Studios launches a GameFi project called Open Season on Arbitrum, with strong community support and healthy token distribution.

Hot Narratives

• Scroll Session Speculations: The next Scroll Session might focus on gas spent on SocialFi or NFT platforms. Scrolly Hub is a potential front-runner.

• Blackwing Tradable Points: Blackwing introduces a feature to convert BXP to testnet BUSD for trading, allowing users to trade their way up the leaderboard.

HTF Price Action Scenarios

• Market Expectations: Current market sentiment is bearish or sideways. Traders are advised to wait for confirmations before going long.

Early Projects

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