Tag: Project Updates

DeXe (DEXE) has seen a significant surge in on-chain activity, solidifying its position as one of the top-performing large-cap cryptocurrency assets in recent months.

On-Chain Activity Reaches All-Time Highs

Data from Santiment reveals that DEXE recorded 18 whale transactions exceeding $100,000 and 298 active addresses, both marking all-time highs for the protocol. Furthermore, the network welcomed 86 new wallets, representing its most robust wallet growth in seven months.

Market Performance and Driving Factors

This surge in activity coincides with a strong market performance for DEXE, which has experienced a market capitalization increase of over 600% in the past four months. Santiment attributes this growth to heightened interest in DeXe’s DAO governance infrastructure, increasing speculation regarding broader protocol adoption, and a rise in spot accumulation as more tokens have reportedly moved off exchanges.

The analytics firm suggests that the latest on-chain data is actively supporting the price rally rather than merely reacting to it. New wallets are joining the network at their fastest pace in months, while both active participation and whale transactions have reached record levels.

Santiment further noted that this combination of increased user activity, network expansion, and substantial transactions could indicate genuine engagement within the ecosystem, moving beyond purely speculative trading. Investors are closely watching to see if DeXe’s expanding governance ecosystem can sustain its current momentum.

Exchange Support and Market Context

At the time of writing, DEXE was trading near $23.5, marking a nearly 36% increase for the month. A contributing factor to this rally may be the support from MEXC, a cryptocurrency exchange that recently integrated the token into its futures market, offering traders leverage of up to 50x. In the preceding 24 hours alone, DEXE saw a 4% rise.

These gains occurred despite a broader market downturn. Bitcoin briefly dipped to $59,000, its lowest point since early June, before recovering to approximately $61,700 by Thursday morning.

Technical Outlook and Future Potential

Meanwhile, pseudonymous CryptoQuant analyst CW indicated that DEXE is currently testing its “final major sell wall.” A breakthrough above this resistance zone could potentially lead DEXE to set a new all-time high. CW added that once this final barrier is cleared, overhead resistance would be minimal, potentially allowing the rally to continue without significant selling pressure.

Fomo Raises $75 Million at $550 Million Valuation as Major VCs Bet on Consumer Crypto

A consumer-focused cryptocurrency trading application has secured $75 million in funding from investors who typically avoid the crypto space.

Fomo, a social-first crypto trading app, announced a $75 million Series B funding round led by Index Ventures, valuing the company at $550 million. Union Square Ventures also participated, alongside existing investor Benchmark and angel investors including Mark Pincus, founder of Zynga; Humam Sakhnini, CEO of Discord; and Kevin Hartz, co-founder of Eventbrite.

Founded in 2025 by three former dYdX employees—Paul Erlanger, Se Yong Park, and Prashan Dharmasena—Fomo aims to make on-chain trading as seamless as a conventional consumer application. Key features include non-custodial accounts, a rapid onboarding process of approximately 30 seconds, social functionalities like leaderboards and copy trading, and access to a wider array of assets than Coinbase across multiple blockchains, all without the need for users to manage wallets, bridges, or gas fees.

Since its launch in May 2025, Fomo has attracted over 625,000 users and facilitated $4 billion in trading volume. The platform is currently onboarding around 3,500 new users daily with a lean team of 17 employees. This latest funding round brings Fomo’s total capital raised to approximately $94 million.

Julia Andre, a partner at Index Ventures, noted a significant market shift towards consumer blockchain trading and expressed confidence in Fomo’s ability to capitalize on it. “We’re not investing in Fomo because it’s a crypto business,” Andre stated. Co-founder Paul Erlanger was direct about the challenge they are addressing: “On-chain trading is simply impossible.” His vision is for Fomo to be perceived not as a crypto app at all, mirroring the trajectory of Coinbase and Robinhood.

The involvement of established, non-crypto venture capital firms in a nine-figure raise for a crypto startup, particularly during a challenging market downturn, signals a strong conviction that the next wave of users will engage through user-friendly consumer applications rather than complex exchanges. This timing also aligns with a recent uptick in retail search interest and trading volume, as Bitcoin stabilizes near the $64,000 mark.

Fomo’s ambitions extend beyond digital tokens. The company introduced derivatives trading in June and plans to integrate equities, derivatives, and prediction markets as they move on-chain, positioning it as a direct competitor to Coinbase’s “everything app” and Robinhood. Co-founder Se Yong Park indicated that the new funds will be used for acquisitions and to expand the engineering team, providing them with the necessary resources to pursue these goals.

Strategy Buys Just 520 BTC After Raising $300 Million in Cash

MicroStrategy sold $335.5 million worth of its stock last week but allocated only a fraction of those proceeds to Bitcoin, purchasing just 520 BTC, valued at approximately $35 million, at an average price of $67,068. This acquisition brings MicroStrategy’s total Bitcoin holdings to 847,363 coins. The remainder of the funds raised was retained as cash.

The company significantly increased its U.S. dollar reserves, adding roughly $300 million to reach a total of $1.4 billion. This cash is earmarked for supporting the credit quality of its preferred shares and covering dividend payments and debt obligations.

Some analysts interpret this move as damage control for MicroStrategy (MSTR). Saylor’s preferred stock, which pays dividends and has been instrumental in funding Bitcoin acquisitions, recently hit a record low of $83 before a partial recovery. The selloff in preferred shares also coincided with a dip in Bitcoin’s price and broader market sentiment. By raising equity and accumulating cash instead of aggressively buying more Bitcoin, MicroStrategy appears to be prioritizing the strengthening of its balance sheet over expanding its digital asset holdings.

Michael Saylor, MicroStrategy’s CEO, personally purchased $1 million worth of MSTR stock, vowing to hold it until it returns to par value, a public display of confidence amidst growing scrutiny of the company’s model in a prolonged bear market.

This strategy suggests that Saylor and MicroStrategy are focused on protecting both the company’s stock and its Bitcoin reserves. This may involve prioritizing MSTR’s financial stability, even if it means a slower pace of Bitcoin accumulation. While concerns about MicroStrategy’s financial stability may be overstated, MSTR shareholders could face further short-term volatility.

BitMine, SharpLink, and Joe Lubin Fund New Ethereum Research Lab

Two of the largest corporate holders of Ethereum have now invested in the research and development of the Ethereum network itself.

BitMine, SharpLink, and Joe Lubin are the primary financial backers of ETHLabs, a new independent nonprofit research and development laboratory. The lab is staffed by five researchers who previously worked at the Ethereum Foundation.

ETHLabs has set an ambitious goal: to establish Ethereum as the settlement layer for the global economy. Its initial research efforts are specifically targeting institutional adoption, focusing on areas such as faster settlement times, native asset issuance, cross-chain interoperability, increased mainnet capacity, and research into Ethereum’s monetary properties. In addition to the three anchor funders, community supporters include Hayden Adams of Uniswap, Jesse Pollak of Base, and prominent researchers Justin Drake, Danny Ryan, and Tim Beiko.

BitMine and SharpLink are the two largest corporate holders of ETH. By funding research aimed at enhancing ETH’s value, these entities with significant ETH holdings are directly investing in the network’s future growth. Analyst Tom Lee has highlighted the role of institutions and AI agents in driving adoption, emphasizing the ecosystem’s need for increased talent and research to support this expansion. ETHLabs is also explicitly focused on value accrual and the practical application of decentralized finance (DeFi), areas that ETH holders have long argued have been underemphasized by the Ethereum Foundation in its pursuit of credible neutrality.

To ensure that funding does not translate into undue influence, ETHLabs routes all contributions through an independent grants administrator, creating a clear separation between the researchers and the entities providing financial support.

This development occurs amid a period of talent attrition from the Ethereum Foundation and heightened debate over the direction of Ethereum’s development and how the ETH asset captures value. ETHLabs is being positioned as a complementary entity to the Foundation, rather than a breakaway faction, representing a fusion of idealism and pragmatism. The core strategy is to align the largest ETH holders with the researchers capable of fostering network growth, with an independent administrator ensuring transparency and accountability.

MyTonWallet Rebrands to My Wallet, Expands to 11 Blockchains with Enhanced Features

Dubai, United Arab Emirates – June 23rd, 2026 – MyTonWallet, a prominent wallet built for The Open Network (TON), has officially rebranded to My Wallet and announced a significant expansion, now supporting 11 blockchain networks. The open-source, self-custodial wallet, launched in 2022, has evolved from a single-chain solution to a comprehensive platform aiming to simplify the user experience across the decentralized ecosystem.

With over 9 million users, My Wallet has broadened its reach beyond TON to include TRON, Solana, Ethereum, Base, BNB Chain, Polygon, Arbitrum, Monad, Avalanche, and Hyperliquid. Bitcoin is slated as the next addition to its roadmap. The company assures existing users that their current wallets and seed phrases remain unaffected, requiring no migration process.

Integrated Portfolio Tracking Across Multiple Chains

A key enhancement in My Wallet is its built-in portfolio tracking functionality, which aggregates net worth and performance data across all 11 supported networks within the non-custodial wallet interface. Users can visualize their balances and returns over time through detailed charts for total value, profit and loss (P&L), daily P&L, and portfolio share. The platform offers flexible date ranges, token-level filters, and breakdowns by chain, asset mix, and staked assets, providing a clear overview of portfolio composition. Users can also track their holdings in their preferred fiat currency.

This integrated approach distinguishes My Wallet from competitors. While some wallets, like MetaMask, relegate portfolio analytics to separate web applications, and others, like Phantom, offer P&L tracking for a single chain, My Wallet consolidates comprehensive net worth and P&L tracking for all supported networks directly within the wallet itself, eliminating the need for third-party tools or browser dapps.

Seamless User Experience and Gasless Transfers

My Wallet aims to provide a native-like experience across all supported blockchains, including EVM-compatible networks. By maintaining persistent, high-frequency connections to each blockchain and employing optimistic UI techniques, the wallet enables near-instantaneous transfer confirmations, mimicking the responsiveness of a messaging application.

Further reducing friction, My Wallet introduces gasless transfers on TON and Solana. This feature allows users to send assets, such as USDC, without needing to hold the native cryptocurrency of the network (e.g., SOL) for transaction fees. The fee is instead covered by the token being transferred. A similar mechanism is reportedly under development for EVM chains.

“Stablecoins already move more money than Visa — $33 trillion in 2025,” stated Alex Zinchuk, Founder of My Wallet. “For that to reach people outside crypto, the wallet has to stop being the hardest part, and the blockchain fees should be simplified.”

Transaction Simulation and Unified Activity History

The wallet also incorporates transaction simulation, allowing users to preview smart contract interactions before confirmation. This includes a clear display of assets leaving and arriving from the wallet, as well as the specific contract being called. A unified activity history consolidates transaction records from all 11 supported chains into a single view, eliminating the need for users to navigate separate interfaces for each network.

AI-Powered Assistance and Robust Security

My Wallet features a native AI Crypto Agent designed to assist users with natural language commands for tasks such as sending assets, swapping tokens, and staking cryptocurrencies. The agent can also provide information on token prices, portfolio performance, and market indicators like the Fear & Greed Index.

Security remains a core focus, with My Wallet holding the No. 7 ranking on CertiK’s Wallet Security Leaderboard at the time of publication, alongside established names like MetaMask and Coinbase Wallet. The wallet has undergone CertiK audits, features an open-source codebase, and supports reproducible builds since its inception. A $100,000 bug bounty program on CertiK SkyShield has been active since March 2024, with no critical vulnerabilities reported to date.

Designed as a self-custodial solution, My Wallet emphasizes user control, with the team unable to access user funds, seed phrases, private keys, or passwords.

“We started My Wallet because we could not find a wallet we wanted to use ourselves — one where security and usability were both taken seriously, at the same time,” Zinchuk commented. “The name was the last thing to catch up.”

Future Developments

Active development is underway for several new features, including Bitcoin support, Ledger hardware wallet integration across all chains, staking and lending capabilities on every supported network, and a headless wallet mode for AI agents.

My Wallet aims to be a user-friendly, self-custodial wallet that offers advanced multichain capabilities with a focus on clear design, speed, and familiarity, even for users new to cryptocurrency. It combines CertiK-audited security, open-source code, and full user control.

My Wallet is available on iOS, Android, macOS, Windows, Linux, and as a browser extension via mywallet.io.

About My Wallet
My Wallet, formerly MyTonWallet, is an open-source, self-custodial multichain wallet supporting TON, TRON, Solana, Ethereum, Base, BNB Chain, Polygon, Arbitrum, Avalanche, Hyperliquid, and Monad. Founded in 2022, it has been audited by CertiK and holds a top-7 ranking for wallet security. The platform serves over 9 million users across mobile, desktop, web, and Telegram Mini App. Staking within My Wallet is powered by its proprietary protocol, Stakee, which is recognized among the top TON DeFi protocols by Total Value Locked (TVL) on DefiLlama.