Cryptocurrencies

Grayscale believes the potential passage of the CLARITY Act could unlock value in many of the largest revenue-generating crypto applications. The firm’s Head of Research, Zach Pandl, pointed to low trailing earnings multiples across the top 15 protocols in the sector. He argues the assets look inexpensive on cash flows after a long bear market.

Meanwhile, RLUSD continues to rise in terms of usage and market cap, hitting $1.6 billion on CG.

AAVE jumps 15% to $82 as Bitcoin drops below $60,000, with Standard Chartered forecasting a 50x surge by 2030.

Bitcoin could fall further and faster if a large stack of long positions gets liquidated just below current prices, warns one analyst.

Prediction market Kalshi is in talks to raise capital at a valuation of about $40 billion. According to the Financial Times, citing people familiar with the discussions, the round could close in the third quarter. Prediction Markets Draw Wall Street Capital The financing would follow a $1 billion Series F raise completed last month. That