Author: Yeek.io

Avalon Labs has burned 80 million AVL tokens, permanently removing them from circulation in a move that reduces the circulating supply by roughly 44%. Announced on X on June 9, the tokens, worth an estimated $16 million, were mostly unclaimed airdrop allocations from a March 2024 campaign. Avalon framed the burn as the start of a “deflationary cycle” that aligns with long-term incentives. Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply. These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth…

The Sui and Aptos based decentralized exchange (DEX), Cetus Protocol, has restarted its platform after recovering $162 million of stolen funds and a $30 million USDC loan from the Sui Foundation. On May 8, the protocol announced that it is back functioning as usual after a successful community vote on retrieving assets from the attacker’s wallet, which were frozen by Sui validators. Now the protocol possesses a hefty amount of funds—including recovered funds, a USDC loan, and an additional $7 million cash reserve—and it’s ready to be used. Cetus suffered the exploit on May 22, losing over $260 million in assets at…

Eric Trump backed the TRUMP token again, linking it to WLFi after distancing himself days ago Memecoin enables foreign access, sidestepping campaign laws through anonymous crypto transactions Eric Trump has now confirmed what many suspected – The Trump family is all-in on the Official Trump [TRUMP] memecoin. In a tweet this week, he announced an official alignment between the token and WLFi, the family’s broader crypto venture. In fact, the statement marked a clear turnaround, with the same stating, Source: X Just days ago, Trump’s sons claimed they had nothing to do with the token, framing it as just an…

Ethereum’s price is consolidating near $2,500 as institutions quietly ramp up their exposure to ETH. As of press time, Ethereum (ETH) is trading at $2,492, down 0.9% over the last day. The price is close to the lower end of its recent 7-day range between $2,419 and $2,666 and. Market activity appears to be picking up steam despite the slight decline. Ethereum’s 24-hour trading volume has increased by more than 25% to $11.42 billion, indicating a resurgence of investor interest. In line with this, Coinglass data shows that derivatives volume increased 21.9% to $37.36 billion, but a 1% decline in…

Sui network-based Cetus Protocol has relaunched with a new roadmap, open-source plans, and a compensation programme following a $223 million exploit. The decentralized exchange unveiled its post-relaunch strategy in a June 8 blog post, outlining measures to enhance protocol security, upgrade monitoring systems, and transition toward full open-sourcing. A newly structured white hat bounty programme has also been introduced to support community-driven security efforts. According to the team, all affected CLMM pools have now been replenished using a combination of recovered assets, treasury funds, and a $30 million loan from the Sui Foundation. Liquidity providers will regain access to their…

Memecoin ETFs could debut by 2026, driven by demand for actively managed crypto products. SEC delays fuel frustration, but issuers push for “first-to-file” ETF review model restoration. Amid the rising interest in altcoin ETFs and expectations of their approval in 2025, memecoin ETFs are also beginning to attract attention. A page under the name – Vladcoin noted,  “I think there should be an ETF that actively trades memecoins — buying and selling based on performance. It would hold the promising ones and sell off the weaker ones. Basically, an actively managed memecoin ETF.” Bloomberg ETF analyst Eric Balchunas weighs in…

SHIB burn rate surged 5762.9%, while address activity rose across all categories last week. Exchange outflows rose 92.01%, nearly doubling inflows, as funding rates flipped slightly bullish. Shiba Inu [SHIB] has drawn renewed attention after its 24-hour token burn rate surged by a staggering 5762.9%, with over 26 million tokens incinerated. This spike reflects intensified deflationary efforts by the community, which often aligns with attempts to restore confidence after price pullbacks.  However, this time, the price barely responded. SHIB slid 1.82% to $0.00001259 despite the burn, suggesting deflation alone isn’t moving the needle. Retail traffic rises as whales step back…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure After a horrendous start to the year, the United States-based spot Ethereum ETFs (exchange-traded funds) have managed to turn their fortune around over the past few weeks. This positive trend mirrors the shift in sentiment amongst Ethereum investors since the start of the year’s second quarter. Ethereum ETFs Hit 15 Consecutive Days Of Capital Inflows According to data from SoSoValue, the US Ethereum ETFs registered a net inflow of $25.22 million on Friday, June 6. This latest daily performance marked the 15th straight day of capital inflows…

Andre Cronje’s Sonic token is in freefall, having erased almost $1.3 billion in market capitalization since its relaunch in January. Sonic (S) price crashed to $0.3775 on Sunday, down by over 61% from its highest point this year. This crash has brought its market capitalization to $1.9 billion, down from $3.15 billion in January. Sonic token has plunged as its ecosystem continues slowing down. Data shows that the stablecoin market cap has plunged to $446 million, down from $597 million earlier this year. A falling stablecoin supply in a chain signals that activity in the network is fading.  Further data…

Despite Maple Finance’s impressive growth—nearing $1 billion in active loans and expanding its footprint to Solana—the platform’s native token, SYRUP, is showing signs of fatigue. After a staggering 355% rally from its April lows, the token has stalled, with on-chain data pointing to slowing user adoption and diminished whale interest. While the protocol’s fundamentals appear strong, technical indicators such as a bearish double-top pattern and weakening network activity suggest that SYRUP’s recent momentum may wane. At last check Sunday, Maple (SYRUP) price was trading at $0.40 — a few points below this month’s high of $0.4637. On-chain data shows that…