2 weeks ago
Pump.fun mislaid the apical spot successful the Solana memecoin launchpad rankings for the archetypal clip since its release, hinting astatine a displacement successful the memecoin sector.
As Cointelegraph antecedently reported, a recently created memecoin launchpad called LetsBonk flipped Pump.fun successful regular protocol revenue, according to DefiLlama. While wide web enactment shows a imaginable reshuffle alternatively of an expansion, immoderate metrics bespeak that Solana whitethorn beryllium connected the rise, with a imaginable enlargement successful memecoin activity.
In addition, decentralized concern (DeFi) and accepted concern (TradFi) whitethorn converge sooner than radical think. Nelli Zaltsman, caput of blockchain payments innovation astatine JPMorgan’s Kinexys, said this could hap successful the adjacent fewer years.
Real-world plus (RWA) level Projective Finance offers vulnerability to government-backed blockchain exertion projects, portion NFT level OpenSea is expanding to DeFi and perpetuals aft a large acquisition.
Meanwhile, information researchers person thwarted a $10-million DeFi backdoor that threatened thousands of astute contracts for months.
LetsBonk flips PumpFun successful 24-hour revenue: DefiLlama
A caller memecoin launchpad gained traction wrong the Solana ecosystem, eclipsing the apical level successful 24-hour sales.
On July 7, DeFi information level DefiLlama showed that LetsBonk, a Solana memecoin level supported by the Bonk (BONK) community, generated $1.04 cardinal successful revenue. This grounds doubled Pump.fun's gross of $533,412 for the aforesaid period.
The surge marked an uncommon displacement successful dominance successful Solana memecoins, wherever Pump.fun is usually connected top. Even though LetsBonk showed a spike successful regular revenue, Pump.fun remained ascendant successful the monthly chart, signaling implicit $37 cardinal successful protocol revenue.
Protocol rankings by gross connected Monday. Source: DefiLlamaLetsBonk’s motorboat besides seemingly affected the BONK memecoin, arsenic the token has recorded an astir 52% summation successful worth since the memecoin launchpad’s release. BONK is 1 of the apical Solana memecoins, with implicit 430,000 followers connected X. The token has a marketplace headdress of astir $1.8 billion, making it the 68th-largest token successful the crypto space.
DeFi, TradFi convergence could get sooner than expected: JPMorgan
A JPMorgan enforcement said the disagreement betwixt TradFi and DeFi could vanish successful the adjacent fewer years.
At the RWA Summit Cannes 2025, Nelli Zaltsman said that JPMorgan is attempting to merge onchain assets with institutional-grade payments infrastructure. This signals a imaginable tipping constituent for wide blockchain adoption.
The enforcement said their extremity was to find a mode to enactment with the nationalist blockchain, arsenic the regulatory situation permits. Zaltsman described JPMorgan’s attack arsenic “asset agnostic,” hinting that the institution aims to supply multichain entree to clients.
The enforcement besides said the boundaries separating TradFi and DeFi whitethorn dissolve faster than expected. This is being driven by some industries’ willingness to collaborate.
Projective Finance opens $7 cardinal onchain lending excavation for Illinois star projects
A RWA financing level focused connected sustainability launched a $7-million lending excavation for nationalist schools successful Illinois.
The platform, Projective Finance, gives DeFi investors entree to municipal infrastructure successful the United States. The lending excavation volition money star vigor installations crossed Illinois. The institution said infrastructure loans volition beryllium executed wholly onchain.
Using blockchain technology, the task allows entree investments without the intermediaries traditionally required. Projective Finance co-founder Josh Chinnaswamy said that with the blockchain, the investments tin beryllium done with afloat transparency.
The institution lets investors instrumentality portion successful government-backed projects, which typically person precocious recognition ratings and little default risks. This includes authorities initiatives focusing connected renewable energy. However, the level does not supply investors with vulnerability to crypto assets.
As of June, much than 4,700 megawatts of operating star capableness person been installed passim Illinois. Source: IlsolarmapOpenSea expands to mobile with Rally deal, eyes “onchain everything app”
Non-fungible token (NFT) level OpenSea continues to grow beyond integer collectibles, acquiring a mobile and token-focused institution called Rally.
The acquisition showcases OpenSea's volition to spell beyond NFTs and make a mobile-focused level for crypto trading. The level said that the aboriginal of NFT and token trading “fits successful your pocket.” Meanwhile, Rally posted connected X that users tin expect a caller mobile acquisition aboriginal successful 2025.
Rally co-founders Chris Maddern and Christine Hall volition beryllium a portion of OpenSea's leadership, bringing their token trading expertise to the platform.
In an X post, Maddern, who volition besides beryllium OpenSea's caller main exertion officer, said the squad is moving connected a merchandise to turn the onchain system for creators and traders.
Researchers foil $10 cardinal DeFi backdoor successful thousands of astute contracts
A radical of crypto information researchers discovered and rescued thousands of astute contracts affected by a DeFi backdoor, preventing imaginable losses of implicit $10 cardinal successful crypto.
On Thursday, pseudonymous Venn Network researcher Deeberiroz shared that a backdoor exploit had been softly threatening the manufacture for months. The onslaught exploited uninitialized ERC-1967 proxy contracts, which let malicious actors to hijack contracts earlier they person been acceptable up properly.
Venn Network co-founder and president Or Dadosh told Cointelegraph that the attacker fundamentally front-ran declaration deployments and injected malicious implementations. “In the simplest terms, the attacker exploited definite deployments which allowed them to enactment a well-hidden backmost doorway successful thousands of contracts,” Dadosh told Cointelegraph.
Dadosh said the attacker could person targeted the susceptible contracts astatine immoderate point. However, since the squad discovered the vulnerability connected Tuesday, it worked with different information researchers to measure affected contracts and unafraid susceptible assets.
Source: DeeberirozDeFi marketplace overview
According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.
A token called MemeCore (M) was past week’s largest gainer, expanding by 1,058%, followed by Hyperlane (HYPER), which recorded implicit 400% successful gains this week.
Total worth locked successful DeFi. Source: DefiLlamaThanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.
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