Plasma plans to launch its mainnet by late summer, optimizing stablecoin trading; Renzo Protocol partners with Concrete to launch institutional-grade restaking products. The sentiment in the crypto market is cautious, with BTC experiencing fluctuations, ETH undergoing wide-range consolidation, and altcoins showing mixed performance. Popular tokens CALCIFY, SNT, and CTA have performed well, while Meteora introduces new tools to enhance liquidity management in the Solana ecosystem.
Crypto Market Overview
Mining Popular Tokens
CALCIFY Calcify Tech (+15.74%, Market Cap $892 million)
According to Gate's market data, CALCIFY token is currently priced at $0.4366, with a 24-hour increase of 15.74%, and a current market cap of $892 million.
Calcify Tech is a decentralized computing power marketplace that provides users with fair, transparent, and on-demand access to GPU, CPU, and memory resources through smart contracts. The platform is designed for AI developers, Web3 projects, and enterprise users, eliminating intermediaries and providing computing power in a scalable and cost-effective manner. Through token incentives, Calcify encourages users to share idle computing resources to earn profits. Unlike traditional cloud services, Calcify features permissionless, programmable, and verifiable characteristics, empowering real-world AI and blockchain tasks.
The CALCIFY token gained market attention and initial recognition through the HODLer Airdrop event, and its price has continued to rise since its launch, with no significant pullback observed. However, recent trading has shown multiple long upper shadows, indicating increased selling pressure above, and short-term volatility risks have intensified. Investors are advised to control leverage and respond cautiously to potential technical pullbacks.
SNT Status (+3.88%, Market Cap $360 million)
According to Gate's market data, SNT token is currently priced at $0.0505, with a 24-hour increase of 3.88%, and a current market cap of $360 million.
Status is a mobile application that combines social features with an instant messaging client, Dapp browser, and Ethereum-based light wallet, often referred to as the "Blockchain WeChat." It allows users of Ethereum's decentralized protocols to send encrypted messages, smart contracts, and digital currencies to each other. Developed on Whisper, Status provides its chat API (Application Programming Interface) and development tools for decentralized applications, enabling users to access dApp services within the software.
On the project side, Status recently launched version 2.34, which has significantly optimized user experience compared to version 2.31. Continuous product iterations have provided strong support for SNT's price. Technically, SNT has shown a strong upward trend since bottoming out in April, exhibiting a clear rhythm of "uptrend - pullback - uptrend." It is currently in a pullback consolidation phase after reaching a new high, and future trends will need to focus on the strength of the pullback and support levels.
CTA Cross The Ages (+24%, Market Cap $37.62 million)
According to Gate's market data, CTA token is currently priced at $0.0751, with a 24-hour increase of 24%, and a current market cap of $37.62 million.
Cross The Ages (CTA) is a Web3 project that combines elements of fantasy and science fiction, building a multimedia ecosystem that includes games, novels, NFTs, anime, and derivatives. At its core is a mobile-first blockchain trading card game (TCG) based on seven fantasy and science fiction novels, set in a dystopian world. Players can participate in territorial battles by collecting, minting, upgrading, trading, or renting cards, which can be converted into NFTs and combined with physical cards, achieving a seamless transition from Web2 to Web3.
Recently, driven by rising interest in the GameFi sector, CTA's price has surged significantly from its bottom, with a cumulative increase of nearly 5 times, and market attention has notably increased. However, from the trading volume perspective, while the price has reached new highs, the volume has not increased proportionately, indicating a certain degree of divergence between price and volume, which may suggest weakening upward momentum in the short term. Investors should be cautious of volatility risks at high levels.
Alpha Interpretation
Meteora to Launch New Profit and Loss Tracker and DLMM Fund Pool Tool
The Solana ecosystem liquidity protocol Meteora released a summary of its community call on June 20, announcing several measures to enhance liquidity management, including an upcoming profit and loss tracker that supports USDC value display (web version in development), community tools for DLMM (Dynamic Liquidity Market Maker) fund pools (supporting position liquidity decline tracking and Telegram notifications), and the creation of Dune dashboards for DLMM and DBC (Dynamic Bond Curve).
These new tools aim to enhance user experience and transparency, helping liquidity providers (LPs) optimize returns and reduce risks through real-time data and notifications. Meteora's DLMM fund pool is known for its dynamic fee adjustments and high capital efficiency, with a total locked value (TVL) exceeding $1.1 billion, demonstrating its significant position in the Solana DeFi ecosystem.
These updates further solidify Meteora's core position as Solana's liquidity infrastructure, especially with its integration with aggregators like Jupiter, providing traders with low-slippage trading and higher returns for LPs. However, the M3M3 platform's suspected market manipulation scandal that erupted in February (involving over $200 million in meme coin projects) may have impacted community trust, necessitating transparent tool development and data disclosure to mitigate concerns. The introduction of Dune dashboards will provide users with more intuitive data analysis, potentially attracting more developers and institutions, but the actual effectiveness and adoption rate of the tools still need to be observed, especially given the occasional congestion issues on the Solana network that may affect user experience.
Renzo Protocol Announces Strategic Partnership with DeFi Vault Infrastructure Provider Concrete
Renzo Protocol announced a strategic partnership with DeFi vault infrastructure provider Concrete on June 19, launching a customized Restaking Vault product suite for institutional users. This product combines Renzo's liquid restaking capabilities on EigenLayer with Concrete's institutional-grade smart contracts and operational systems, providing a one-stop, configurable access path to EigenLayer for asset issuers, institutional investors, curators, and networks.
This collaboration marks a key step towards institutionalization of the EigenLayer ecosystem. Renzo's ezETH (liquid restaking token) has attracted over $3.8 billion in TVL, demonstrating its leading position in the restaking market. Concrete's smart contract infrastructure offers higher security and compliance for institutions, further bridging the gap between traditional finance and DeFi.
At the same time, expanding non-ETH assets and cross-chain strategies still faces challenges of multi-chain interoperability and regulatory complexity, especially in the context of the SEC's increased scrutiny of crypto assets in the U.S. In the short term, this collaboration is expected to drive further growth in Renzo's TVL and ezETH adoption, but the market effects and acceptance of new features like time-locked bonds still need to be observed.
Plasma Plans to Launch Mainnet by Late Summer
Plasma plans to launch its mainnet in "late summer" 2025 as a Bitcoin sidechain optimized for stablecoins, aiming to reshape the infrastructure for stablecoin trading. CEO Paul Faecks stated that the mainnet will support "the largest scale of stablecoins" (primarily USDT), providing an efficient, low-cost transfer experience through zero-fee transactions, Bitcoin security anchoring, and EVM compatibility.
By focusing on stablecoin payment scenarios, Plasma avoids the complex features found in general-purpose blockchains (like Ethereum and Solana) such as NFTs or meme coins, optimizing its architecture for high throughput (thousands of transactions per second) and deep liquidity integration. Previously, Plasma raised $1 billion through the XPL token presale, reflecting strong market recognition of its vision, with investors including Tether CEO Paolo Ardoino and Peter Thiel.
However, Plasma's success still faces challenges. Despite its unique focus on stablecoins, competition with Ethereum (where USDT circulation dominates) and Tron (which is expected to exceed $10 trillion in stablecoin trading volume in 2024) is inevitable. The "network effect" emphasized by Faecks means that Plasma needs to quickly integrate payment stacks (such as traditional financial companies and stablecoin issuers) to capture market share. Additionally, regulatory compliance (such as reserve and AML requirements under the U.S. GENIUS Act) must be completed before the mainnet launch to ensure global user participation.
Related: Czech Government Withstands Fourth Attempt at Regime Change Amid $45 Million Bitcoin (BTC) Scandal
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