👀 Lido prepares its response to the recovery boom

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Lido is preparing measures in response to the fact that its market share has been hit by the increase in liquidity redemptions. A new governance proposal outlines plans for an alliance approving stETH-based replenishment infrastructure.

Crypto markets are fluctuating as investors wait for updated data on US inflation. The move comes after crypto ETPs welcomed their first weekly inflow in five weeks.

Additionally, MarginFi will launch its LST-backed stablecoin this month, meme assets will rally as RoaringKitty returns, and Pudgy Penguins toys will arrive in Target.

✍️ In today’s newsletter:

• Cryptocurrencies fall as inflation data looms
• Institutional ETPs post their first inflow in five weeks
• Lido Alliance proposal targets new restructuring protocols
• MarginFi to launch LST-backed stablecoin within weeks
• RoaringKitty’s Return Sparks Rally of Meme Assets
• Pudgy Penguins are coming to Target stores

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📈 Markets of the last 24 hours:

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🎈Crypto Markets Fall Ahead of US Inflation Data

Leading cryptocurrencies decline before updating US inflation data. However, all is not gloomy for the markets, with Memecoins inspired by Gamestop And Bitcoin Mining Stocks posting modest gains over the past 24 hours.

💵Institutional ETPs Post First Influx in Five Weeks Despite Falling Bitcoin Prices

Institutional exchange traded products welcomed their first weekly influx in more than a month despite bearish market dynamics. The step has been reached despite Ether ETPs experience outflows and influxes towards Hong Kong-based ETFs crash more than 90%.

🤝Lido proposes an alliance promoting a restaurant ecosystem based on stETH

Poolthe leading liquid staking protocol, seeks to reverse a trend release trend over several months as assets come in liquid reconditioning rivals. The new proposed Lido Alliance would seek to promote, approve and rebuild the ecosystem built around the Lido stETH liquid staking token.

SPONSORED ARTICLE

THE Guru Network aims to integrate AI and blockchain technologies to enhance real-world business applications across multiple chains. This multi-chain AI computing layer uses the CCIP protocol to secure messaging and value transfer, positioning itself as a “layer 3” solution. Key features include reliable off-chain data integration and automated business process management, which aim to reduce user errors and streamline operations. The network facilitates an environment where developers, known as “gurus,” can deploy AI-powered applications and workflows, improving the scalability and efficiency of supported blockchains. Incentives are offered for contributions to the growth and functionality of the network, with a focus on fostering a collaborative ecosystem for individual and enterprise-level participants.

READ MORE: Guru Network: Multi-Chain AI Computing Layer

🪙MarginFi will launch a decentralized stablecoin backed by Solana LST this month

MarginFi, one of the six major DeFi protocols on Solana, has revealed plans to launch its stablecoin backed by liquid staking before June. MarginFi co-founder MacBrennan Peet announced the news at the Solana Crossroads 2024 conference in Istanbul, along with confirmation that the project will be issue a governance token in the future.

🐱Gamestop and Memecoins come together with the return of RoaringKitty

RoaringKitty, the investor and influencer credited with sparking the infamous GameStop short squeeze, returned to social media for the first time in three years. A single harmless tweet already inflamed volatility in the marketswith both memecoins and supposedly actions memes assignment mind-blowing gains in just a few days.

🐧Pudgy Penguins puts toys in Target stores

A line of physical toys depicting images of the popular Chubby Penguins NFT Collection are available for purchase from Target. The move follows similar launches in partnership with Walmart and Amazon, with the toys driving more than 1 million sales nowadays.

🌍 SOMEWHERE ELSE

• Wisconsin State Investment Board Reveals $163 Million Spot Bitcoin ETF (The block)
• Biden blocks China-backed crypto mining company from land ownership near Wyoming military base (PBS)
• Deutsche Bank joins the Monetary Authority of Singapore’s Global Asset Tokenization Initiative (Ledger information)
• What President Biden’s Crypto Policy Could Really Be About (unleashed)

🔥 TRENDY

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