Crypto Highlights 5/8: PUMP Surges, USDe Nears $10B

1. PUMP Revival with New Trading Incentive Program
Pump.fun is set to launch a new trading incentive program. Despite its market share dropping to 25%, PUMP has rebounded, reaching a market capitalization of $3.1 billion.

2. USDe Nears $10 Billion Supply Milestone
USDe has grown by 75.89% this month, with supply close to hitting the $10 billion mark. ENA has also reached a market capitalization of $910 million. Note: Today, 2.7% of the circulating supply will be unlocked.

3. BONK Burns 300 Billion Tokens Worth Over $8 Million
BONK has burned 300 billion tokens (~$8.05 million). However, the token price remains weak, with a market cap of $2.3 billion, not yet fully recovered from the recent drop.

4. MYX Jumps 150% in Just 3 Days
MYX’s market cap has hit $400 million after soaring 150% in three days. This token is part of the Binance Alpha program. However, the hourly funding rate dropped sharply to -2% yesterday.

5. LDO Faces Challenges
Staking platform Lido has cut 15% of its workforce amid rising competition from centralized staking platforms. LDO’s market capitalization currently stands at $950 million.

6. TON Under Pressure After VERB’s Fundraising
VERB raised $558 million in reserves using TON, with its stock price up 114%. However, TON’s token price has fallen, and its market cap is now $28.95 million.

7. Fed Likely to Cut Interest Rates in September
CME data shows a 94.4% chance that the U.S. Federal Reserve will cut rates by 0.25% in September. Goldman Sachs predicts three consecutive rate cuts.

8. Abandoning the Search for 8,000 BTC Worth Billions
An IT engineer in the UK has officially given up searching for a hard drive containing 8,000 BTC that was mistakenly thrown into a landfill 12 years ago. At its peak, the Bitcoin was worth $9.2 billion.

9. Large Investors Bought Over 21,000 BTC Last Week
Institutional investors acquired 21,021 BTC last week, totaling around $2.46 billion — a sign of strong confidence in Bitcoin.

10. Grayscale Prepares for IPO and Leadership Changes
Grayscale has filed for a confidential IPO and reinstated Barry Silbert as Chairman, signaling a strategy to reaffirm its market position.