Web3🌑Friday News: RFK Jr. on Bitcoin, Celeb Meme Coin Mania, PEPE Trading Surge, and Ark Invest’s $100M Outflows.

Welcome to our Friday edition of Web3 Stories! Today, we delve into the dynamic world of cryptocurrency with intriguing updates that have stirred the digital asset realm. From notable figures embracing Bitcoin to the surging popularity of meme coins and the latest trends in trading volumes, there's plenty to unpack. So, grab your favorite beverage, settle in, and let's explore the latest developments shaping the Web3 landscape.

1. Robert F. Kennedy Jr. 'Delighted' Trump Is Now Pro-Bitcoin

Robert F. Kennedy Jr. expressed his support for cryptocurrency, highlighting its potential to safeguard against AI's dystopian risks, protect wealth, and enhance democracy through blockchain. Despite his opposition to Trump, Kennedy noted their common ground on the importance of decentralized currencies. He criticized Trump's presidency and the trial's outcome, suggesting it might boost Trump's appeal. Kennedy also clarified that his independent candidacy doesn't detract from Biden but instead draws voters who would otherwise support Trump. He emphasized the need for blockchain to protect American values, transparency, and democracy amidst rising totalitarian technologies.

Robert F. Kennedy Jr. ‘Delighted’ Trump Is Now Pro Bitcoin - Decrypt

“I’m not a fan of Trump’s,” Kennedy noted after the Trump trial verdict was announced, but said blockchain can defend Americans against “dystopian” AI.

DecryptRyan Ozawa

2. Celebs Like Caitlyn Jenner Dive into Solana Meme Coins, Early Investors Profit Most

Celebrities like Caitlyn Jenner, Iggy Azalea, and Davido have recently launched meme tokens on Solana’s Pump Fun, causing a stir in the crypto community. While early traders have made significant profits, token prices have plummeted after initial promotions. Critics argue that these "pump and dump" schemes exploit followers, with early investors reaping the rewards before the wider market catches on. Despite the controversy, some believe that if done right, celebrity involvement in crypto could be beneficial, suggesting a focus on social tokens with genuine value rather than quick cash grabs.

As Random Celebs Like Caitlyn Jenner Embrace Solana Meme Coins, Early Hoarders Fare Best

A recent slew of tokens issued on Pump Fun by fairly well-known and local celebrities has gotten the crypto community divided on their purpose.

CoinDeskShaurya Malwa

3. PEPE Trading Volumes Triple Since Early May After Hitting ATH

Pepe’s price has dropped 12% since reaching its all-time high, yet trading volume surged 216% to $2.47 billion, indicating strong trader interest. While some view Pepe as leading the meme coin market, others caution about its volatility. Major meme coins Dogecoin and Shiba Inu also saw price declines, following Pepe's dip. Despite this, Pepe's significant growth, soaring 25,955% since its launch and 1,042% this year, keeps traders intrigued. However, volatility remains high, with some traders profiting millions from recent spikes. This mixed sentiment highlights both the potential and risks in the meme coin market.

PEPE trading volumes surge 3X from start of May just days after ATH

Pepe’s sudden 12% decline from hitting all-time highs just two days ago has led to a 26% uptick in trading volume over the past 24 hours.

CointelegraphCiaran Lyons

4. Ark Invest’s Spot Bitcoin ETF Sees Record $100 Million in Daily Outflows

U.S. spot Bitcoin ETFs experienced their 13th consecutive day of net inflows, totaling $48.71 million. Fidelity’s FBTC led with $119 million in inflows, while Ark’s ARKB saw $100 million in outflows. Other notable movements included BlackRock’s IBIT with $2 million in inflows and Bitwise’s BITB adding $26 million. Investor uncertainty over the Federal Reserve’s interest rate decisions is driving these unusual ETF flows. Over the past 13 days, these ETFs have attracted over $2 billion. The funds are on their second-longest positive streak, reflecting investor sentiment amidst economic anticipation.

Ark Invest’s spot bitcoin ETF logs record $100 million in daily net outflows

Spot bitcoin ETFs in the U.S. recorded their 13th consecutive day of net inflows on Thursday, drawing in $48.71 million.

The Block[email protected]

As we conclude our exploration of today's Web3 Stories, it's clear that the cryptocurrency space continues to evolve rapidly, presenting both opportunities and challenges. Whether it's the shifting sentiments of influential figures like Robert F. Kennedy Jr. and Caitlyn Jenner, the explosive growth of meme coins like PEPE, or the intriguing dynamics within Bitcoin ETFs, one thing remains certain: the world of digital assets is ever-changing and full of surprises. Stay tuned for more updates, and until next time, happy investing and may your journey through Web3 be filled with success!

WEB3 AI ML