🦎🚀 Trump said what? 💬

Thursday, May 9, 2024

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Winding down for the week

It looks like a slow Thursday as we approach the weekend. Perhaps some last-minute volatility is in the cards?

In today's news:

Pro-crypto President 👨‍💼
Out with the old, in with the new 🏃

Read on!

24h Hot Searches Worldwide 🔥

MAGA (+44.5%)
MANEKI (-18.5%)
Dione (+2.4%)
Mode (+7.2%)
VaultCraft (+0.7%)
Toncoin (+6.8%)
Turbo (+7.0%)

Where Are the Crypto Degens?

US is the leading crypto degen country, accounting for 17% of global interest in smaller market cap coins.

The top 25 most degen countries account for a majority 78% of onchain speculation interest.

Pro-crypto President 👨‍💼

The former Commander-in-Chief shares his thoughts on crypto!

During a special event for Trump NFT holders held at the Mar-a-Lago resort yesterday night, the main man Donald Trump showed his support for cryptocurrency, stating that even though Gensler and the democrats are against it, he's 'good with it'.

Trump also ensured that his political campaign would accept crypto-based donations in the form of Bitcoin or other tokens.

The presidential candidate also took shots at President Biden stating that 'he doesn't even know' what crypto is.

Apparently, the insults also carried over into crypto, as Trump expressed his disapproval of the Jeo Boden memecoin after hearing it had a market cap of $240M, stating that 'he doesn't like that investment,'

His comments have resulted in BODEN climbing by 40% from $0.30 to a peak of $0.42, but it has plunged back to $0.35.

On the other hand, memecoins associated with Trump, such as MAGA and TREMP have surged by 37% and 139%, respectively, since clips from the event started circulating on social media.

Editor's Take:
Along with the US House of Representatives successfully overturning the SEC's anti-crypto banking guidance, digital assets have become a new political weapon for the upcoming elections. Trump's positive remarks further reinforce the significance of winning votes from crypto users, while being in the anti-crypto camp may be a recipe for disaster.

Options are another popular derivative that traders use to take directional bets on the market or hedge their open positions. Learn about the top options DEXs available now!

Watch now

Out with the old, in with the new 🏃

The decentralized options platform Lyra Finance will be revamping its token!

Their new LDX token, which was announced recently, will function as the native currency of the Lyra Derivatives Network and will be released in Q3 later this year.

The existing LYRA tokens will be migrated to the new LDX token at a 1:1 ratio based on a snapshot of holders' balances as of May 8

Besides that, the protocol will also be conducting a points-based airdrop for traders and liquidity providers.

Since the reveal of LDX, the price of LYRA has plummeted by 84.6% from $0.13 to to $0.02.

Learn about how crypto trading apps work and explore some of the most popular platforms on the market.

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What is MEV (Maximal Extractable Value) and how does it work?

Learn more

In Other News...

Mario Kart Meets Hearthstone. Race-to-earn Solana game MixMob: Racer 1 is hitting the App Store and Play Store in less than a week, which features a mix of racing strategy and card selection in the moment-to-moment action.
Be Careful With Livestreams. Memecoin creator lied when he said he had no hands, so he couldn't rug, as he streamed himself on Twitch as the Solana memecoin's price went up, before heading to zero.
Sharing the Pie. BitMEX launches options trading, aiming to capture significant market share from Deribit.
Making Bank. Fantasy Top on Ethereum layer-2 Blast is pulling in more revenue in fees than some major blockchain networks, making it one of crypto's most profitable applications.
No Longer 'Ultrasound Money'. The new supply of ETH is growing at its fastest daily rate since the Merge, as the amount of fees burned has plummeted following the Dencun upgrade, analysts said.
No Legal Battle. Famed social media cat Nala is now the official face of Solana meme coin Shark Cat, thanks to a licensing deal that avoids a court fight.

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