May’s report from DappRadar reveals a striking $192 billion total value locked in decentralized finance (DeFi) applications, marking a significant high since February 2022. Dominated by Ethereum with a $130 billion share, the DeFi sector saw a 17% increase in the U.S. dollar value of cryptocurrencies, mainly driven by rising Ether and token prices. Despite a 21% drop in unique active wallets, the uptick indicates a robust investment influx, primarily speculative due to talks of an Ethereum ETF.

Transaction volumes on decentralized exchanges leaped from $1.7 billion to $5.1 billion from October last year to June this year, enhancing yields for liquidity providers. This surge is aligned with periods of heightened discussion around Bitcoin and Ethereum ETFs, suggesting a favorable market reaction.

While daily active users in DeFi waned, other Web3 sectors including gaming and NFT marketplaces saw user growth. This overall expansion of Web3 users, despite challenges in user onboarding, underscores a growing confidence in blockchain technologies, potentially buoyed by the anticipation of new ETFs.

DappRadar

BIGCAP COINS:

1. Pepe: Market Cap of $5.9 Billion.
2. Bitcoin: Market Cap of $1.3 Trillion.
3. Arbitrum: Market Cap of $3.1 Billion.

MIDCAP COINS:

1. Notcoin: Market Cap of $2.2 Billion.
2. TARS Protocol: Market Cap of $27.2 Million.
3. DOG•GO•TO•THE•MOON (Runes): Market Cap of $816 Million.

RISING COINS:

1. Bird Dog: Market Cap of $7.7 Million.
2. Trog: Market Cap of $24.2 Million.
3. Mog Coin: Market Cap of $543 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Arthur Hayes, former CEO of BitMEX and current head of Maelstrom, anticipates a bullish turn for cryptocurrencies following recent interest rate cuts by major central banks. The Bank of Canada initiated the trend, reducing its rates to 4.75%, with the European Central Bank quickly echoing this move, dropping their rates to 4.25%. These decisions have reinvigorated the crypto market, hinting at a potential surge out of its recent stagnation.

Despite expectations that significant policy changes would first appear at the U.S. Federal Reserve’s Jackson Hole Symposium in August, the rapid actions of the Bank of Canada and ECB have set a promising stage. Hayes hinted at further surprises, particularly eyeing the upcoming Bank of England meeting for potential rate cuts, which could further boost crypto values.

In a bold statement, Hayes advised investors to capitalize on this trend by investing in Bitcoin and other cryptocurrencies. His confidence is bolstered by his previous accurate prediction in early May, where he foresaw Bitcoin’s rise towards $70,000 amid subtle shifts in U.S. monetary policy. According to Hayes, now is the opportune moment to invest, as central banks seem poised to continue easing monetary policies.

Source

The web traffic for major cryptocurrency exchanges in May reveals significant insights into the popularity and user engagement on these platforms. Binance leads the pack with 66 million visits, though it experienced a -13% decrease from April. Similarly, Coinbase saw 39 million visits, marking a -12% decline. On the other hand, Bitget observed a substantial increase of +47%, reaching 31 million visits, showcasing its growing user base.

Other exchanges also showed varied performance. Bybit had 30 million visits but saw a slight decrease of -1.6%. OKX attracted 27 million visits, enjoying a +12% rise, while WhiteBit maintained 25 million visits with a minimal -0.1% drop. HTX experienced a +14% increase in traffic, reaching 20 million visits, and Gate.io saw a slight increase of +0.5%, totaling 16 million visits. BitMart had 13 million visits with a +4.5% growth, whereas BingX experienced a decrease of -8.4%, with 11 million visits.

This overview highlights the dynamic nature of user engagement across different crypto exchanges. While some platforms experienced significant growth in user traffic, others faced declines. These fluctuations underline the competitive and ever-changing landscape of the cryptocurrency market, reflecting user preferences, market trends, and the overall volatility inherent in the crypto space.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Traditionally considered an odd couple, Bitcoin has made intriguing forays into the crypto ecosystem over the past year. Cake Wallet’s decision to integrate Lightning is an unexpected yet exciting development that continues this trend of Bitcoin integration. In doing so, Cake aims to make Bitcoin more practical for everyday use for its users.

In a post published yesterday, Breez CEO Roy Sheinfield emphasizes the “massive opportunity” this creates:“Introducing Lightning to the broader world of crypto will help more users interface with Bitcoin, and Lightning is the tech that can put the currency into “cryptocurrency.” Bringing crypto and Lightning together is an inevitable step…

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