It has been a busy day in terms of news, so let us catch you up on the latest and greatest.
Today’s Agenda:
- Market Watch
- Highlights of the Day
- Mastercard Introduces Crypto Credential
- PYUSD Makes its Way to Solana
- Fetch AI Merger
- Project of the Day
- Crypto Corner
- Market Sentiment & Predictions
- Business & Political Insights
Market Watch
Top Gainers
- Notcoin ($NOT): +19.4%
- Chiliz ($CHZ): +6.4%
- Arweave ($AR) +6.14%
Top Losers
- Bonk ($BONK): -10.9%
- Pepe ($PEPE): -7.4%
- Ondo ($ONDO): -6.8%
Trending Crypto Sectors/Categories
- Base Meme
- PolitiFi
- AI Meme
Total Crypto Market Cap – 2.664 Trillion
Fear and Greed Index – 73
Top NFT Sale
- Baby Monkey #6841 Sold for 92 ETH
7
Highlights of the Day
Mastercard Introduces Crypto Credential
Mastercard has once again pushed the boundaries of convenience and security in the realm of digital transactions with its latest offering – Crypto Credential. This groundbreaking feature revolutionizes the way users engage with cryptocurrency by simplifying the process to just a username.
How does it work?
Users undergo Mastercard’s verification process to acquire a unique alias. This alias becomes their Crypto Credential, enabling them to seamlessly send and receive cryptocurrency across supported exchanges.
PYUSD Makes its Way to Solana
In a move set to redefine digital commerce, PayPal has announced the integration of its PayPal USD (PYUSD) stablecoin onto the Solana blockchain. This strategic expansion follows its successful launch on Ethereum last year and marks a significant step towards enhancing transaction efficiency and affordability.
PayPal’s Goals for Digital Commerce
Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, crypto, and digital currency group, emphasized the platform’s commitment to fostering a digital currency ecosystem conducive to commerce and payments. “Making PYUSD available on the Solana blockchain furthers our goal of enabling a digital currency with a stable value designed for commerce and payments,” remarked da Ponte.
Fetch AI Merger
In a groundbreaking move set to reshape the landscape of artificial intelligence, three pioneering platforms – Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (Ocean) – have announced their merger into a single entity. Scheduled for June 13, 2024, the consolidation aims to propel the advancement of artificial general intelligence through unprecedented collaboration.
The Alliance
The genesis of this alliance traces back to 2023 when Fetch.ai, SingularityNET, and Ocean Protocol laid the foundation for the Artificial Super Intelligence (ASI) Alliance. United by a shared vision, the alliance is dedicated to pooling their specialized AI technologies to cultivate AGI capable of sophisticated reasoning, strategic planning, and adept problem-solving.
Project of the Day
Worldcoin
Worldcoin ($WLD), a visionary iris biometric cryptocurrency project spearheaded by OpenAI chief executive Sam Altman, is on a mission to reshape the global financial landscape. Leveraging cutting-edge AI and biometric identification technology, Worldcoin aims to establish a universal financial and identity network, transcending geographical and socioeconomic barriers to provide inclusive access to the global economy.
In terms of price movements, Worldcoin ($WLD) has surged to prominence with a market cap surpassing $1.12 billion and a current price hovering around $5. Since its launch last July, the token has demonstrated robust performance, boasting gains of approximately 200%.
Notably, while experiencing a retracement from its all-time high of $11, recent months have witnessed a resurgence in price, aligning with the broader narrative of AI-driven innovation. Now, as the market eagerly awaits the trajectory of $WLD, it remains tied to the prevailing AI narrative, particularly amidst the backdrop of notable Q1 earnings from industry giants such as NVIDIA and NASDAQ reaching all-time highs. So, while the long-term price outlook remains uncertain, $WLD is poised to mirror the sentiment around the AI narrative in the crypto space.
Crazy Day in Crypto
- Based Doge (BOGE), a memecoin on the Base network, experienced an exploit similar to the recent Normie incident, causing its value to plummet from $0.002983 to $0.000072 and resulting in the loss of 91.4 million BOGE tokens.
- Shiba Inu has surpassed Cardano, reaching a market cap of $16.4 billion and entering the top-10 cryptocurrency rankings.
- PEPE, a meme coin, has exceeded the combined market value of prominent NFT collections such as Bored Ape Yacht Club and CryptoPunks, indicating a shift in investor attention from NFTs to meme coins.
Market Sentiment & Predictions
- During Consensus 2024, Cathie Wood, CEO of ARK Invest, suggested that the recent approval of Ethereum ETF filings was driven by political motives rather than adhering to the usual procedural norms.
- A recent OnePoll survey found that over three-quarters of adult gamers are either unfamiliar with or have never played a blockchain video game.
Business Talks & Political Insights
- Hashdex withdrew its spot Ethereum ETF application on May 24, which aimed to combine spot Ethereum holdings with Ethereum futures contracts to address potential market manipulation concerns.
- Recent SEC filings reveal that BlackRock’s income and bond-focused funds have allocated investments to the asset manager’s Bitcoin-focused ETF.
- Gemini exchange will refund $2.18 billion to users of its paused Earn program, representing a 97% recovery since withdrawals were halted in November 2022.
