Solana co-founder Anatoly Yakovenko ignited criticism from the crypto community by likening memecoins to loot boxes in mobile games. Solana co-founder Anatoly Yakovenko has sparked controversy after referring to memecoins and non-fungible tokens as “digital slop,” despite Solana’s substantial memecoin-driven revenue. “I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value,” Yakovenko said in a X post on Sunday while comparing the crypto tokens to loot boxes in free-to-play mobile games. Yakovenko’s comment came during a debate with Base creator Jesse Pollak over whether memecoins and NFTs have fundamental value, and if so, where that value lies. Read more
Bitcoin suddenly ups the volatility into Sunday's weekly close, with key liquidation zones on the radar and predictions of bigger BTC "price swings" to come. Key points: Bitcoin stages a late comeback into the weekly close as price approaches important liquidation zones. Traders and analysts emphasize various key price points to reclaim next. Read more
As gold hits record highs amid economic uncertainty, Tether Gold (XAUt) sees continued growth, mirroring institutional and central bank demand for the metal. A volatile macroeconomic landscape has sparked a new gold rush among institutional investors and central banks, with gold bullion hitting record highs this year — a trend that has also extended to Tether’s gold-backed digital token. By the end of the second quarter, Tether Gold (XAUt) — a tokenized commodity offering direct exposure to physical bullion — was backed by 7.66 tons of fine troy ounces of gold, according to the company’s latest attestation report, verified by BDO Italia. This reserve supports over 259,000 XAUt tokens in circulation, giving the asset a total market capitalization exceeding $800 million. Read more