Cardano’s price experienced a significant surge, climbing by 10.21% to $0.6879 by 22:16 (02:16 GMT) on Friday. This marked the largest one-day percentage gain since May 8, pushing Cardano’s market cap up to $24.1293B, or 0.67% of the total cryptocurrency market cap. Despite this rally, Cardano is still down 77.80% from its all-time high of $3.10 set on September 2, 2021.

The rally in Cardano is part of a broader market trend where memecoins and decentralized finance (DeFi) tokens have seen substantial gains. This trend is driven by a combination of factors, including Bitcoin’s record performance and resurgent interest in DeFi. For instance, memecoins like Popcat (POPCAT) and dogwifhat (WIF) on the Solana ecosystem have risen over 15% and 13% respectively. Similarly, Snek (SNEK) on Cardano and MOG Coin (MOG) on Ethereum have also posted double-digit percentage increases. This momentum is not limited to smaller tokens; projects with roots in the NFT space, such as Pudgy Penguins (PENGU), have also surged over 30%.

The gains in the crypto market are driven by a combination of factors, including Bitcoin’s record performance, resurgent interest in DeFi, and a renewed appetite for high-beta memecoins. The total value locked in DeFi has been on a steady incline, providing a favorable backdrop for tokens in the sector. For example, Euler (EUL), a lending protocol, saw its token price climb over 12% to a new peak following its integration with BlackRock’s tokenized asset fund, BUIDL. Similarly, Compound (COMP), a veteran DeFi lending platform, registered an 11% price increase, likely linked to recent governance proposals aimed at optimizing platform yields.

The rally in Cardano is also part of a broader trend where decentralized finance protocols have demonstrated a strong recovery. For instance, ether.fi (ETHFI), a liquid restaking protocol, increased by over 16%. The project is benefiting from the continued growth of the restaking sector and supports its token price through a revenue-sharing model that funds token buybacks. Zebec Network (ZBCN), a decentralized payment and infrastructure protocol on Solana, rose more than 20% following its recent acquisition of Gatenox, a compliance and automation platform.

In summary, Cardano’s recent rally is part of a broader market trend where decentralized finance protocols and memecoins have seen substantial gains. The surge in Cardano’s price is a testament to the broader market trend, where memecoins and DeFi tokens have posted significant gains. The rally in Cardano is part of this broader trend, where decentralized finance protocols and memecoins have seen substantial gains. The gains in the crypto market reflect a market driven by a combination of Bitcoin’s record performance, resurgent interest in DeFi, and a renewed appetite for high-beta memecoins.

• Mattel halts Hot Wheels NFT collection to reassess its digital collectibles strategy.
• Hot Wheels NFT marketplace remains until 2025, but transfer options remain unavailable.
• Despite NFT market struggles, Mattel continues to explore digital collectible options.

Mattel has decided to halt its Hot Wheels Virtual Garage NFT collection, given doubts about future digital collectible prospects. The company is taking this step to assess its virtual collectible approach due to the unpredictable nature of the market.

The company confirmed that the existing platforms, including Hot Wheels NFT Marketplace and related Discord channels, will run until 2025. NFT holders can conduct all transactions related to their Hot Wheels assets on the platform, though the option to transfer NFTs to other wallets or platforms has never been available. 

Mattel has clarified that redemption of unfulfilled outstanding rewards will continue according to original program specifications. The company is currently exploring possible solutions to fix the transfer constraints, and in the interim, these transfer capabilities remain unavailable to users. Through this latest announcement, Mattel …

The post Hot Wheels NFT Collection Paused: Mattel’s Next Move in a Struggling NFT Market appeared first on Coin Edition.

The United States Treasury Department has made a significant policy shift in the cryptocurrency landscape, particularly impacting decentralized finance (DeFi) platforms. The department has eliminated the requirement for DeFi entities to comply with the controversial crypto “broker reporting” obligations. This change follows the US Congress’s recent decision to overturn a contentious tax rule by the IRS, marking a pivotal moment for the DeFi sector.

The abolition of the reporting requirement is seen as a move to create a more accommodating environment for DeFi operations. Previously, platforms were obligated to report user transactions to the IRS. The lifting of this duty allows DeFi entities to operate with less regulatory red tape, potentially sparking a more dynamic industry landscape. This change is expected to foster growth and innovation by exempting platforms from obligations related to gathering and transmitting user information.

In response to this policy shift, DeFi platforms now have greater operational latitude. The reduction in requirements for user identification and transaction reporting paves the way for amplified innovation. Analysts predict a rapid development phase for DeFi, enhancing overall diversity in the field. The Treasury Department stated, “Our objective is to safeguard public welfare without obstructing the progression of new financial technologies.”

Sector experts have highlighted the implications of this rule exemption for the industry. The Treasury’s decision aims to encourage financial innovation while ensuring equitable market opportunities. As the DeFi ecosystem continues to evolve, several points warrant attention. Increased investor interest in DeFi products is anticipated, and more transparent and accessible financial tools may gain preference. DeFi’s growth could outpace other altcoins as regulatory pressures ease.

The Treasury’s actions ease operational burdens for those in the industry, marking a turning point for DeFi innovation. While transaction processes may become more efficient for platforms and users, close regulatory scrutiny will likely continue. The sector’s trajectory hinges on balancing innovation with security to secure sustainable advancement in financial technology.

The repeal of the rule was a result of strong bipartisan opposition in Congress, which voted to overturn the revised IRS rule through the Congressional Review Act. Both the Senate and the House passed the repeal, with the Senate voting in favor. President Donald Trump signed the bill, effectively reversing the expanded IRS crypto brokers rule. This action by the Treasury Department underscores the recognition that the original intent of broker reporting was to apply specifically to custodial, intermediary exchanges, rather than non-custodial and decentralized entities.

The withdrawal of the rule is seen as a significant victory for the crypto industry, which has long advocated for regulatory clarity and a more favorable environment for innovation. While the repeal does not preclude future rulemaking that might be specifically adapted to non-custodial and decentralized entities, it provides a much-needed respite for DeFi platforms. The industry now has the opportunity to focus on growth and development without the immediate threat of onerous reporting requirements.

The decision by the Treasury Department to simplify DeFi transactions is a testament to the evolving regulatory landscape for cryptocurrencies. It reflects a growing understanding of the unique challenges and opportunities presented by decentralized finance. By removing the reporting rule, the Treasury has taken a step towards fostering an environment where DeFi can thrive, potentially leading to increased innovation and broader adoption of these technologies.

GameSquare Holdings has made a significant move in its treasury management strategy by acquiring $5 million in Ethereum. This purchase, executed under the leadership of CEO Justin Kenna, marks a pivotal shift in the company’s approach to managing its financial assets. The acquisition was facilitated by Dialectic, a specialized crypto asset management firm, through its Medici platform. This transaction is part of a broader $100 million treasury mandate aimed at maximizing yields from decentralized finance (DeFi) protocols.

Justin Kenna emphasized the strategic importance of this move, stating, “This marks an inflection point in GameSquare’s strategic evolution as we activate our Ethereum-native treasury strategy.” This statement highlights the company’s commitment to leveraging Ethereum’s potential for growth and yield optimization. By focusing on Ethereum, GameSquare is aligning itself with a growing trend among corporations that are seeking higher returns through DeFi protocols, which currently offer yields ranging between 8% and 14%. This strategy not only diversifies the company’s asset base but also positions it to capitalize on Ethereum’s robust ecosystem and its increasing adoption as a corporate treasury asset.

GameSquare’s decision to prioritize Ethereum over traditional Bitcoin-centric models underscores a broader industry shift. Ethereum’s versatile smart contract capabilities and the lucrative yield opportunities available through staking and DeFi platforms are driving this preference. As more companies adopt similar ETH-focused strategies, the demand for Ethereum is expected to rise, potentially influencing market liquidity and asset valuation. Financial analysts note that such moves could stimulate increased activity within DeFi protocols, enhancing their stability and growth prospects. Moreover, GameSquare’s approach exemplifies a forward-thinking treasury management model that leverages blockchain technology to optimize returns while maintaining asset security.

The role of Dialectic and its Medici platform in managing GameSquare’s Ethereum treasury program is crucial. Dialectic’s involvement highlights the importance of specialized crypto asset management in navigating the complexities of digital asset investments. The Medici platform offers tailored solutions that facilitate secure, compliant, and efficient execution of large-scale crypto transactions, ensuring that GameSquare’s treasury objectives are met with precision. This partnership reflects a growing reliance on expert firms to manage corporate crypto holdings, mitigating risks associated with volatility, regulatory compliance, and operational challenges. Dialectic’s expertise enables GameSquare to implement its Ethereum-native treasury strategy confidently, setting a benchmark for other corporations considering similar initiatives.

GameSquare’s Ethereum acquisition occurs amid increasing corporate interest in cryptocurrency as a treasury asset, with no immediate regulatory hurdles reported. The transaction aligns with existing frameworks, maintaining transparency and compliance. However, ongoing regulatory scrutiny of digital assets necessitates vigilant monitoring to ensure adherence to evolving standards. Market observers anticipate that GameSquare’s move will encourage dialogue among stakeholders about the strategic integration of cryptocurrencies in corporate finance. This could lead to enhanced clarity and potentially more supportive regulatory environments, fostering broader institutional adoption of Ethereum and other digital assets.

In conclusion, GameSquare Holdings’ $5 million Ethereum purchase under CEO Justin Kenna’s leadership marks a strategic milestone in corporate treasury management, emphasizing the growing prominence of Ethereum in institutional portfolios. By leveraging Dialectic’s expertise and the Medici platform, the company is positioned to capitalize on DeFi yield opportunities while navigating market complexities. This initiative not only reflects a shift towards ETH-centric treasury strategies but also sets a precedent for other firms exploring innovative approaches to digital asset management. As the corporate crypto landscape evolves, GameSquare’s move underscores the importance of strategic foresight and expert collaboration in maximizing the benefits of blockchain technology.

Ethereum, the blockchain network renowned for its role in powering a significant portion of high-value non-fungible token (NFT) collections, has reclaimed its dominance in the NFT market. Over the past 24 hours, Ethereum-based NFT collections have generated a trading sales volume exceeding $7.5 million, marking a 31% increase from the previous day. This resurgence positions Ethereum as the most traded blockchain in the NFT market, surpassing competitors such as Immutable and Polygon.

Data from CryptoSlam, an NFT aggregator platform, highlights Ethereum’s strong performance. Ethereum’s decentralized blockchain network is favored for its smart contract capabilities, which enable the creation of unique and verifiable digital assets. This technological advantage has solidified Ethereum’s position as a leading platform for NFT activities.

Polygon, an Ethereum Layer 2 scaling solution, remains the second most-traded NFT collection globally. In the past 24 hours, Polygon-based NFT collections have raised a trading sales volume of $2.7 million, reflecting a 16% surge from the previous day. Polygon’s appeal lies in its ability to offer faster and cheaper NFT transactions compared to the main Ethereum network, making it a cost-effective alternative for NFT activities.

Mythos Chain, a blockchain network focused on secure and efficient NFT transactions within the Mythos gaming ecosystem, ranks third in the NFT market. Over the past 24 hours, Mythos Chain-based NFT collections have generated a trading sales volume of $2 million, although this represents a 1.29% decrease from the previous day.

Bitcoin, known for powering its flagship crypto and various NFT collections, is the fourth most-traded network in the NFT market. In the past 24 hours, Bitcoin-based NFT series have recorded a trading sales volume of $1.5 million, down 24% from the previous day.

Immutable X, a Layer 2 scaling solution built on the Ethereum blockchain, has dropped to the fifth position. In the past 24 hours, Immutable-based NFT collections have raised a trading sales volume of $1 million, marking a 13% increase from the previous day. Immutable’s rise to dominance last month was driven by the explosive trading sales volume of NFTs from games like Guild of Guardians and Gods Unchained.

The resurgence of Ethereum in the NFT market underscores its enduring appeal and technological superiority. As the NFT ecosystem continues to evolve, Ethereum’s smart contract capabilities and robust developer community position it as a frontrunner in the digital asset landscape. The recent surge in Ethereum-based NFT sales reflects growing investor confidence and the platform’s ability to adapt to market demands.

DeFi Development Corp, a Nasdaq-listed public company, has recently acquired 153,225 SOL tokens, valued at approximately $24.13 million. This acquisition underscores the company’s commitment to its SOL-centered treasury strategy and highlights the growing significance of Solana in the cryptocurrency market.

DeFi Development Corp has positioned itself as a notable player within the institutional Solana landscape. The Florida-based entity continues to build on a strong SOL-focused treasury strategy, following its acquisition of 153,225 SOL tokens. Under the leadership of an experienced team, the company has recently raised significant funds to expand its Solana holdings and established a $5 billion line of credit, emphasizing its dedication to long-term growth in the digital asset sector.

The company’s actions have an immediate impact on Solana’s market presence. By staking newly acquired SOL across multiple validators, DeFi Development Corp bolsters Solana’s decentralization and security, enhancing network stability. This investment seeks to capitalize on Solana’s growth prospects in the cryptocurrency market. The company’s decision to stake these newly acquired SOL tokens across a mix of validators, including its own Solana validator infrastructure, is a key aspect of its strategy.

Financial markets observe potential shifts as a result of this acquisition, solidifying Solana’s role in treasury operations. Investment in Solana supports broader cryptocurrency infrastructure growth, reflecting a strategic focus on blockchain-native solutions. These developments accentuate potential gains in Solana staking and network effects. Historical trends show consistent strategic growth, akin to other treasury strategies like MicroStrategy with BTC. The focus remains purely on Solana, providing a unique market position.

Following this transaction, the company now holds approximately 846,630 SOL and SOL equivalents, including staking rewards. This acquisition positions DeFi Development Corp as the largest public holder of Solana, underscoring its commitment to the Solana ecosystem. The decision to allocate a substantial portion of its treasury to SOL is a strategic move that reflects the company’s confidence in the Solana blockchain’s potential for growth and innovation. Solana is known for its high-speed transactions and low fees, making it an attractive platform for decentralized finance (DeFi) applications. By holding a significant amount of SOL, DeFi Development Corp not only secures its financial position but also aligns itself with a blockchain that is poised for future advancements.

In addition to the acquisition, DeFi Development Corp has introduced a new treasury strategy compensation plan tied to SOL per share (SPS). This plan is designed to incentivize stakeholders by linking their compensation to the performance of SOL, further integrating the company’s financial strategy with the Solana ecosystem. This move is likely to attract investors who are bullish on the future of Solana and DeFi, as it provides a direct link between their compensation and the value of SOL.

The acquisition of 153,225 SOL is a clear indication of DeFi Development Corp’s long-term vision and its belief in the potential of the Solana blockchain. By becoming the largest public holder of Solana, the company is not only securing its financial future but also positioning itself as a key player in the DeFi space. This strategic move is likely to have a positive impact on the company’s reputation and its ability to attract further investment and partnerships within the Solana ecosystem.

Jakarta, July 10, 2025 (GLOBE NEWSWIRE) —

Farmsent, a leading innovator in agricultural blockchain technology, today announced the launch of its groundbreaking Farmsent Superapp — a one-stop-shop dApp for farmers around the world. The Superapp is designed as a comprehensive toolkit for farmers, handling everything from onboarding and managing their commodities for sale to facilitating payment receipt for their produce and managing day-to-day microtransactions. This intuitive, non-custodial mobile application seamlessly integrates cutting-edge Web3 functionalities, including on-chain wallet abstraction powered by Arcana, and .grow Web3 domains, bringing unprecedented simplicity and security to agricultural trade.

The Farmsent Superapp works as a powerful non-custodial wallet that ensures farmers retain full control over their digital assets, a core principle of Web3 empowerment. For its initial launch, the Superapp supports the peaq, Polygon, and Ethereum networks, enabling broad interoperability across the decentralized ecosystem.

A cornerstone of the Superapp’s user experience is its integrated on-chain wallet abstraction, powered by Arcana. This innovative solution dramatically simplifies the complex world of crypto wallets by allowing farmers to log in using familiar methods like email or Google login, abstracting away the need for traditional seed phrases and private key management. This lowers the barrier to entry for millions of farmers, enabling seamless participation in the digital agricultural economy.

Farmsent, a groundbreaking blockchain-based platform, is revolutionizing agriculture by empowering farmers directly. Having already onboarded over 200,000 farmers, it cuts out intermediaries, ensuring they receive fairer prices for their produce and gain control over their livelihoods. By integrating real-time data from soil sensors and weather stations, alongside transparent Decentralized Product Passports (DePPs), all available via the Superapp, Farmsent optimizes crop management and builds consumer trust. The platform also focuses on financial inclusion and streamlined logistics, fostering a thriving, farmer-centric ecosystem, with an ambitious goal of onboarding 2 million farmers by 2026.

“Our vision at Farmsent has always been to empower farmers by bringing them directly into the modern economic landscape, cutting out unnecessary middlemen and ensuring fair value for their hard work,” said Sim Khela, Co-founder of Farmsent. “The Farmsent Superapp, with its intuitive design and robust Web3 integrations, is a monumental step towards achieving that. It’s technology serving humanity, putting food security front and center.”

The Superapp further enhances user experience through the integration of .grow Web3 domains. Farmers can use easy-to-remember, human-readable domain names (e.g., ‘yog.grow’) linked directly to their decentralized wallet, simplifying transactions and making digital payments as straightforward as sending an email.

Sandy Carter, COO of Unstoppable Domains, added, “The integration of .grow domains into the Farmsent Superapp is a perfect example of how Web3 domains create a truly user-friendly and inclusive internet. Giving farmers a simple, memorable ‘.grow’ identity to manage their digital assets and transactions is key to mass adoption and building the future of decentralized agriculture.”

Budi, an Indonesian farmer, one of the 600 people currently using the beta version of the Superapp, shared his excitement: “Before, crypto wallets seemed very complicated, with long addresses and seed phrases. With the Farmsent Superapp, I just log in with my email, and it’s so easy to manage my sales and receive payments. Using my ‘.grow’ address makes it even simpler for buyers. This truly helps me focus on what I do best: farming.”

Mayur Relekar, Founder of Arcana, praised the collaboration: “Arcana is thrilled to see our wallet abstraction SDK being utilized to onboard farmers onto the Web3 ecosystem through the Farmsent Superapp. Our goal is to make Web3 accessible to everyone, and by abstracting away the complexities of traditional crypto, Farmsent is pioneering financial inclusion for a vital global industry.”

The Farmsent Superapp promises to deliver unparalleled transparency, efficiency, and empowerment to the agricultural sector, showcasing the transformative potential of Web3 technologies in addressing real-world challenges.

*** END OF THE PRESS RELEASE ***

About Farmsent: Farmsent revolutionizes agriculture by combining a cutting-edge blockchain platform with advanced agricultural technology solutions. Their platform directly connects farmers and buyers, fostering transparency, sustainability, and fair trade. Simultaneously, their innovative sensors and data analytics provide real-time insights for optimized crop management and efficiency. By ensuring traceability and fair pricing, Farmsent empowers farmers, builds consumer trust, and promotes a more ethical and sustainable food system.

For more information, visit Farmsent, follow farmsent on Twitter/X for updates, and join the conversation on Discord.

About Arcana Network: Arcana Network is a full-stack platform for Web3 app development, offering modular SDKs that enable seamless onboarding, identity, and privacy solutions. Their wallet abstraction solutions make Web3 accessible to mainstream users by simplifying wallet management and transactions.

www.arcana.network

About Unstoppable Domains: Unstoppable Domains is a leading platform for Web3 domains, building decentralized digital identities for users on the blockchain. These domains simplify crypto addresses, replace complex usernames, and provide universal login across Web3 applications.

www.unstoppabledomains.com

About peaq

peaq is the Machine Economy computer and operating system leading a global infrastructure revolution, empowering people to own and earn from the devices, robots, vehicles, and infrastructure they use. peaq is designed to be the go-to backbone for the human-centric Machine Economy, and is already home to more than 60 applications in 20+ industries and to the millions of devices and machines that run on them. peaq serves as permissionless, borderless digital infrastructure for increasingly intelligent machines to serve all of humanity in the Age of AI and automation. An economy that anyone can opt-in to and share in the Age of Abundance.

For more information, visit peaq or follow peaq on Twitter/X for updates.

For Media Inquiries: Sim Khela Co-Founder, Farmsent sim@farmsent.io

Engines of Fury is a free-to-play, post-apocalyptic top-down extraction shooter. The project is on its way to redefine the Web3 gaming landscape with its robust player-driven economy and a blockbuster lineup of events. The team behind the novel gaming project consists of veterans from top gaming studios such as Blizzard, Activision, Ubisoft, and Unity. These individuals have worked on some of the most significant games in history, such as World of Warcraft, Assassin’s Creed, etc.

Not only is the game developed by industry giants, but it has also garnered support from titans such as Animoca Brands, Immutable, BNB Chain, and Metavest Capital. The project is also backed by Jeff Burton, the co-founder of Electronic Arts. Burton additionally serves on the project’s advisory board. Engines of Fury is out to dominate the Web3 gaming space in 2025.

Engines of Fury’s In-Game Economy: An Innovative New Approach

The first season of the game is among the top wishlisted games on the Epic Games store. The team is now taking the project to a whole new level.

Engines of Fury will reveal its in-game play-and-earn system on July 10, 2025. The new play-and-earn system will represent the project’s first pillar of a dynamic, player-driven ecosystem. Fans are ecstatic about what more the team will bring to the table.

According to the incredibly talented team, “Season 2: Initiates introduces the foundational elements of earning, built on Guilds, Convenience, Cosmetics, and Play & Earn.”

The project’s native token, FURY, is at the heart of the new in-game economy. FURY is a sustainable and deflationary token that allows players to craft, trade, and earn through skillful gameplay. The token aims to further drive Web3 gaming adoption.

The FURY token is gaining considerable strength due to its well-tested economy. The ecosystem is designed for longevity and player rewards. The active community and the team’s collaboration with Immutable and BNB Chain further highlight the project’s ambition and credibility.

According to the Engines of Fury team, “We’re building a world where players have fun and earn meaningfully.”

Milestones and The Road Ahead

As mentioned, the first season of Engines of Fury was highly successful. It was among the top wishlisted games on the Epic Games store. The game had also seen more than 120,000 users sign up.

The team does not intend to stop at just building a new economy for players. The in-game economy reveal will be followed by an NFT sale this summer. The NFT collection will offer players unique in-game items to enhance their post-apocalyptic adventures.

Fans will then get the much-awaited second season of Engines of Fury, Season 2: Initiates. The second season will debut this autumn and will come with a host of new facets. Initiates will be packed with thrilling new updates, refined mechanics, and rewarding PvE and PvP modes. Season 2: Initiates will be followed by the full-scale launch of the in-game economy.

The team also plans to roll out a full release with token monetization, guilds, and a player-run economy for iOS and Android later this year. This will be followed by a companion app with integrated gameplay & progression

To learn more about Engines of Fury, visit their website, X page, Discord, YouTube, or their Epic Game store.

DISCLAIMER: THIS IS A SPONSORED POST