Bybit will host PumpFun’s PUMP token sale, but users in Europe will be excluded due to regulatory restrictions. Update (July 9, 2:10 pm UTC): This article has been updated to include token sale confirmation from Pump.fun. Bybit has confirmed details of the much-awaited Pump.fun token sale, revealing that users registered through its European Union-regulated platform, Bybit.eu, will not be able to participate, citing compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA). The public sale of PUMP, the native token of the no-code memecoin launchpad Pump.fun, will open on Saturday at 14:00 UTC and run through Tuesday, according to a Wednesday press release shared with Cointelegraph. A total of 150 billion PUMP tokens, 15% of the 1 trillion total supply, will be offered at a fixed price of $0.004 USDT per token. Read more
Ethereum co-founder Joseph Lubin said that corporate ETH treasuries are vital for driving ecosystem growth. Ethereum co-founder Joseph Lubin said ETH treasuries are crucial for the development of the Ethereum ecosystem. During an interview with CNBC on Tuesday, Lubin said that a large amount of Ether (ETH) is in circulation, but there is insufficient activity to utilize it. He cited this as the reason he is involved in building the Ethereum treasury company SharpLink Gaming, where he serves as chairman. Lubin said Ether treasuries are “a great business to run.” He also said that “it’s going to be critical to enable the supply-demand dynamics of Ether to right-size as we build more and more applications.” Read more
Bitcoin’s inflow/outflow ratio fell to 2022 lows, and the cumulative volume delta shows short-selling pressure failing to push prices lower. Time for a rally? Key takeaways: Bitcoin’s monthly outflow/inflow ratio has dropped to 0.9, signaling renewed long-term confidence and accumulation. Despite aggressive short-side pressure on Binance derivatives, BTC has remained in a tight range between $100,000 and $110,000. Read more