OVERVIEW

HODL, FOMO, And FUD: Crypto Waits

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

*If you’re a business and want to access this data via our API, email us.

New In Three Sentences
Crypto News 📰

🧑‍💼 Michigan Bets on Ethereum: State Pension Fund Dives into ETH ETFs

Michigan just became the first U.S. state to throw pension fund money into Ethereum, putting up $11 million in Grayscale’s Ethereum ETFs. While other states dabble in Bitcoin, Michigan’s retirement system is stepping into ETH, with 460,000 shares of the Grayscale Ethereum Trust and Mini Trust. CryptoBriefing.

🔐 COTI CEO on Privacy: ‘If 100% Transparency is So Great, Why the Shower Curtain?’

Shahaf Bar-Geffen, CEO of COTI, has a simple take: privacy in Web3 isn’t a luxury; it’s essential. He calls out the transparency myth, pointing out that “transparent” blockchains expose everything, making data storage and sensitive transactions a privacy minefield. COTI’s ‘Garbled circuits’ allow data use without making it public, which means faster, lighter privacy tech for dApps, and DeFi. Decrypt.

📉 Kraken’s Slim Down: 400 Laid Off as Company Goes for ‘Lean’

Kraken is cutting 15% of its workforce—roughly 400 employees—in a bid to streamline operations as it reaches for a leaner, faster organization. With new leadership, a desktop app launch, and a blockchain (Ink) on the way, Kraken seems intent on shaking up its structure. Hopefully, without more pink slips. FrankNez.

🌐 Internet Computer Usage Soars Amid Bitcoin DeFi Craze

Internet Computer's Chain Fusion protocol saw a 1,230% spike in cross-chain usage, driven by Bitcoin-native DeFi apps like Rainbow Protocol and Tap Protocol. Dfinity's ICP network allows direct interaction with Bitcoin for smart contracts, bypassing the usual bridge headaches. Cointelegraph.

Stocktwits
That’s A Lot Of Votes 🤯 

Forget the Harris or Trump ratio - take a look at that absolutely insane number of votes Stocktwits users have made:

Nearly 40,000 Stocktwits users have placed a vote in that poll!

That’s a powerful number from the best-damned community of traders and investors out there. 🫡 

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