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The SPX index is up by 0.85%, driven by strong performances in major tech stocks such as Apple, Nvidia, Tesla, Microsoft, and Oracle. Despite a drop in headline and core inflation rates, the Federal Reserve's economic projections were more hawkish than market expectations, forecasting fewer rate cuts this year. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.30% and 1.95%, respectively in the past 24 hours.
Today’s outperformer is LPT, which jumped 25.6% after Livepeer Launches AI Video Startup Program to Foster Innovation in Decentralized Video Technologies.
Livepeer (LPT), established in 2017, is an Ethereum-based network that optimizes video streaming by utilizing distributed computing for efficient transcoding, rather than hosting or distributing content. Lately, Livepeer has introduced the AI Video Startup Program to support early-stage startups focusing on decentralized AI video technologies. The program offers $40k USD in funding, mentorship, and technical support, leveraging Livepeer's AI Subnet for advanced AI video capabilities. Participants will benefit from a decentralized infrastructure that enhances security, lowers costs, and scales effectively. Applications close on June 26.
Check Out the Latest Prices, Charts, and Data of LPTUSDT Perp!
Eigen Labs has acquired the Rio Network team, enhancing its mission to create an open, verifiable cloud. The team, with over 75 years of combined experience in crypto, will contribute to scaling products, growing communities, and developing infrastructure at Eigen Labs. While the Eigen Foundation will separately purchase and open-source Rio’s liquid restaking token (LRT) code as part of the EigenLayer ecosystem, Eigen Labs itself is not developing an LRT. The collaboration aims to advance the EigenLayer ecosystem and foster open innovation.
Category | Flow (millions) |
GBTC | 0.0 |
Non-GBTC | 85.2 |
Total | 85.2 |
Bitcoin nearly reached $70,000 following optimistic inflation data, which suggested the Federal Reserve might cut interest rates, boosting the appeal of riskier assets like bitcoin. Despite this, U.S. spot bitcoin ETFs saw significant outflows of approximately $265 million early in the week. The Fed is expected to maintain rates, aligning with the cooling inflation and investor anticipation for rate adjustments.
The Term Structure Protocol, supported by a $4.25M seed funding from investors like Cumberland & HashKey Capital, focuses on fixed-income markets using the zkTrue-up system. The protocol includes development of Primary, Secondary, and Repurchase Markets. A standout feature is the "Kudos Program," which incentivizes early interactions and may lead to a potential airdrop. The rewards system, Kudos, is granted for activities such as lending, borrowing, trading, and providing collateral, with specific rewards like 1 Kudo per day per dollar lent, 3 Kudos per dollar borrowed, and 0.5 Kudos per dollar traded. The program features an hourly updated leaderboard that tracks contributions, motivating early and active participation. Participants are encouraged to research independently and follow updates via the platform’s social media.