🐶📰Weekend Update

BTC $64,265(+0.5%) | ETH $3,492 (-0.2%) | SOL $134 (+1.3%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Airdrops

• ZkSync’s $ZK token went live on Monday and currently sits at a $2B FDV — Claim here

• Layer Zero’s token claim goes live after a last minute announcement of a “Proof-of-Donation” mechanic that required users to pay $0.10 per token claimed

• Photon announced Solana rewards for top traders and confirmed a future token

• Fortune published an article on Farcaster that includes rumors of an upcoming token

Macro

• Bitcoin hit a 1 month low and fell below its 50-day moving average as ETFs saw 6 consecutive days of outflows totaling $960M

• Consensys announced that the SEC has closed its investigation into Ethereum

• Bernstein announced a 2025 price target of $200K for Bitcoin

• MicroStrategy acquired an additional 11,931 BTC for $786M

Memes and NFTs

• Martin Shkreli released the $DJT memecoin and claimed that Donald Trump’s son Barron was involved — Coverage got picked up by mainstream media

• Top NFT collections fell 10%-20% as Blur farmers pulled their bids with Season 3 coming to a close

• The Pudgy Penguins floor crashed below 7 ETH and 114 loans went to auction on BendDao — Shortly after, founder Luca Netz was suspended on X — He was later reinstated, and Pudgies have since recovered back up to 9 ETH

• CryptoPunks saw a number of sub 22 ETH sales for the first time since 2021 as their floor sits at 25 ETH

Misc

• Tether announced xAUT, a digital token backed by physical gold

• Coinbase announced “pre-launch markets” where users can trade upcoming tokens

• The Wayfinder Foundation demo’d an AI agent that can execute complex crypto transactions based on plain text instructions

• FOX announced that they are launching their own layer 2 powered by the Polygon CDK