Ethena Labs Launches Synthetic Dollar on Blast Layer 2

Daily Top Performer — Notcoin (NOT)

Last week, the SPX index was up by 4.8%, Technology and growth stocks fueled the market's rise due to strong earnings and excitement about artificial intelligence. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 1.12% and 0.70%, respectively in the past 24 hours.

Today’s outperformer is NOT, which jumped 42.1% and emerged as the top performer, with its market cap reaching $1.81 billion.

Notcoin (NOT), launched in January 2024, is a clicker game on Telegram where players tap a coin to earn the in-game currency, Notcoin, limited by an energy system. Players can climb a global leaderboard, complete social media-based quests, and use boosts to increase earnings. Earnings can be spent on cosmetic game upgrades. NOT surged 47% in a day and 308.73% over the week, making it a top market performer. Its market cap reached $1.81 billion. New features enable passive earning of NOT tokens. Although short-term gains are predicted, an overbought RSI suggests a possible reversal, highlighting the crypto market's volatility.

Check Out the Latest Prices, Charts, and Data of NOTUSDT Perp and NOT/USDT Spot!

Talk of the Town:

Ethena Labs has launched its synthetic dollar on the Ethereum Layer 2 network, Blast, introducing native yield, lending, and trading functionalities for USDe and sUSDe across various DeFi protocols. Notable integrations include ThrusterFi, which offers liquidity pools for USDe and sUSDe, and HyperlockFi, providing enhanced staking rewards. Users can also leverage farm with Juice Finance and engage in leveraged borrowing on Orbit Lending. Additional features are available through Init Capital, Morpho, and Particle Trade, with ETH-Blast bridging enabled via Stargate Finance. Since its inception, Blast's TVL has surged to $2.2 billion, partly due to its one-way bridge. Despite controversy over its high yields, Ethena's synthetic dollar has rapidly gained prominence, now ranking fourth in the stablecoin market with $2.9 billion in TVL.

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Spot Bitcoin ETF Flows:

Bitcoin (BTC) slightly recovered by 0.30% to close at $67,717 on June 1, bouncing back from a 1.27% drop the previous day. This change was driven by increased investor optimism for a September Fed rate cut, influenced by US BTC-spot ETF market flows. The iShares Bitcoin Trust (IBIT) led with significant inflows, in contrast to outflows from other funds like Grayscale Bitcoin Trust (GBTC). The US BTC-spot ETF market recorded $2,095.5 million in net inflows for May. Upcoming economic data could impact Fed rate decisions and investor sentiment towards cryptocurrencies.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!

Airdrop to Watch:

Mattereum GmbH has introduced the Mattereum Airdrop Referral System (MARS), which rewards participants with MATR tokens for referring new buyers. The referral program, administered by MintWin.xyz, offers escalating rewards based on the volume of MATR tokens sold, with participants earning up to 20% in rewards. To participate, users must complete KYC through Mattereum's partner, the German crypto exchange Swarm, and use their referral link to promote MATR. The MATR token offers significant discounts on transactions involving real world assets (RWAs) like gold, real estate, and art when used through Mattereum. The program excludes residents from the UK and USA due to regulatory restrictions.