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Memecoin Meltdown
Published on June 21, 2024
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.

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NEED TO KNOW
SOL Getting an ETF?
  1. 🇨🇦 Is SOL Getting an ETF in Canada? 3iQ has filed for a SOL-based exchange-traded product in Canada.
    Read more on Bankless.com
  2. 🟠 Gemini's Winklevoss Brothers Endorse Trump. The brothers each donated $1M in BTC to Donald Trump's campaign.
    Read more on Bankless.com
  3. ✈️ Pantera Doubles Down on TON. Pantera raises a second dedicated TON fund.
    Read more on Bankless.com
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MARKET VIBES
Memecoin Meltdown

📸 Daily Market Snapshot: June has been brutal for altcoins, but few have fared worse than hot memecoins. $BONK, $FLOKI, and $SHIB are down 40-50% from their 30-day highs. $WIF touched $4 in the final days of May but is now trading at $1.82 – a 55% decline. It dropped 10% today.

Prices as of 5pm ET 24hr 7d
Crypto $2.34T ↘ 1.0% ↘ 1.7%
BTC $64,117 ↘ 1.4% ↘ 2.4%
ETH $3,519 ↘ 0.1% ↗ 3.1%
SOL $133 ↘ 0.6% ↘ 5.9%

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New Token Rating: Solana has already weakened by 30% against Ethereum during the past month. Is SOL poised for further losses?
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ANALYSIS
The Next Crop of Restaking Tokens

With EIGEN rolling out the second phase of its major drop, restaking bulls are wondering what comes next.

In the Bankless Airdrop Hunter, our analysts have been dialing into the tokenless restaking protocols that are poised to hit it big – focusing on both the liquid restaking token projects built around EigenLayer and the more ambitious competitors trying to straight-up topple EigenLayer's kingpin status.

Below, let's dig into the 5 restaking ecosystem protocols we're hunting 👇


FRIEND & SPONSOR: MANTLE

Mass adoption of token-governed technologies. With Mantle Network – an Ethereum rollup, Mantle Treasury, and a token holder governed roadmap for products and initiatives.

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EARLY ACCESS
Why We Should Fight for Freedom of Speech

Why should we fight for Freedom of Speech? That’s the question that Lawyer Greg Lukianoff helps us answer today.

Using first principles, Greg goes deep into the importance of Freedom of Speech, “Free Speech Culture,” what happens to Free Speech when new technologies like the printing press and the internet are introduced, and how all this intersects with blockchains and crypto.

Citizens get Early Access to the episode and Ryan & David's exclusive Debrief on the interview 👇

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INVEST
This Week's Yield Opps

Each week, Citizens get a curated list of yield opportunities that the Bankless team is watching. As a free subscriber, you're missing out! 👇

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.

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