TL;DR

• Weekly trading volume on Ethereum's DEXs fell by over 50%.

• Futu invested HK$440 million in Hong Kong's Airstar Bank.

• Experts praise Hong Kong's "safety first" approach to virtual asset regulation.

• Pump.fun’s 24-hour revenue hit $1.15 million, its third-highest ever.

• Orbit Chain hackers moved 12,900 ETH in 10 hours.

• Binance now has over 200 million users, doubling in two years.

• Stablecoins' market value increased by 0.72% last week.

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Alpha of the Day

Ethereum's DEXs See a Trading Volume Crash

Looks like Ethereum's decentralized exchanges (DEXs) have hit a rough patch, with trading volumes plummeting by more than 50% in just a week. Maybe everyone decided to take a break and binge-watch the latest series on Netflix instead of swapping tokens. Or perhaps the allure of meme coins and celebrity-endorsed cryptos just isn't cutting it anymore. Either way, the drop is significant enough to make you wonder if the DEXs need a new marketing campaign or just a hug.

Futu Goes All In on Airstar Bank

Futu is dropping a cool HK$440 million into Hong Kong's virtual Airstar Bank. Talk about going big or going home! This massive investment is like buying every single flavor of bubble tea at your favorite shop. Futu's bet on the digital banking revolution shows they’re banking on a future where your bank teller is more AI than IRL. Let's hope this virtual bet pays off better than the last time you tried to invest in Dogecoin.

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Hong Kong's "Safety First" Crypto Strategy

Experts are showering praise on the Hong Kong Securities Regulatory Commission’s "safety first" approach to virtual asset trading platforms. It’s like they’ve put up traffic cones and installed seatbelts in the wild west of crypto trading. This regulatory lovefest suggests that Hong Kong is serious about making crypto as safe as crossing the street with your grandma. In a market known for its volatility, a little safety might just be what the doctor ordered.

Pump.fun Hits Revenue Jackpot

Pump.fun is having its best day ever, raking in $1.15 million in just 24 hours. That’s their third-highest daily revenue record, making it rain like a crypto casino. It seems users just couldn’t resist the allure of pumping their funds into the latest craze, showing that when it comes to making quick bucks, Pump.fun knows how to party. Let’s hope the fun doesn’t stop and the pumps keep coming!

Orbit Chain Hackers on the Move

In the latest episode of "Crypto Heist," Orbit Chain hackers have been busy bees, moving 12,900 ETH in just the past 10 hours. It's like the crypto version of Ocean's Eleven, but with less George Clooney and more anonymous cybercriminals. These digital bandits are proving that even in the blockchain world, there's no rest for the wicked. Watch out folks, the ETH highway is getting congested with stolen goods!

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Binance Hits 200 Million Users

Binance has officially hit over 200 million users worldwide, doubling its user base in just two years. That’s like everyone in Brazil deciding to join Binance! The platform’s explosive growth is a testament to its appeal and maybe a little FOMO. Whether you’re a crypto newbie or a seasoned trader, Binance is becoming the go-to hangout spot. Just don’t forget to bring your 2FA along for the ride.

Stablecoins Get a Little More Stable

Stablecoins saw their market value increase by a modest 0.72% last week. It’s not exactly a moonshot, but in the world of stablecoins, any growth is good news. Think of it like finding a $5 bill in your old jeans pocket – not life-changing, but definitely a nice surprise. As crypto markets swing wildly, stablecoins continue to be the reliable friend who always shows up on time and never forgets your birthday.

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