This Week on web3 5min recap

Market information, major news, and fundraising status for 6/8~14.

Good morning.
This is mitsui from web3researcher.

Every Monday will be a recap of the past week's web3 market. Please use it to catch up on information and trends!

1) Market information and major news
2) 33 funded projects
3) Articles and recap updated in the last week

Subscribed

---

(1) Market Information and Major News

---

⛓️Blockchain

L1

Overall, this month was a week of declines. However, even within this trend, TON showed strength with a 12% increase in token prices.

• Bitcoin fees are soaring again.

• Telegram Launches TON-Linked "Stars" Currency After TON Coin Reaches Record High

• Chain outage at Cosmos Hub for approximately 5 hours, now restored

• Solana Foundation Excludes Certain Operators from Delegation Program Due to Malicious Sandwich Attack

• BNB has recovered to all-time highs and continues to recover after a difficult 2023

• Ripple completes acquisition of Standard Custody, an institutional crypto asset custody provider.

• Polka Dot Community Endorses Complete Renovation of JAM

L2

Overall, TVL had a week of declines.

• Arbitram's $237M Catalyze Gaming Proposal Passes Despite Significant Opposition

• Base Overtakes OP Mainnet in TVL, Becomes Largest Layer 2 Network in OP Stack-Based "Superchain"

• Binance Labs Invests in Ethereum Layer 2 Network Developer Zircuit

• OP Mainnet of Ethereum L2 Launches "Fault Proof" to Decentralize Network

• Polygon Labs to Launch Grant Program for Developers

• zkSync launches community "ZK Nation" to manage, protect and grow protocols.

• Privado ID becomes the latest project to spin out of Polygon Labs

• Points Drives Rapid Growth of Consensys' Linea Blockchain

• Bitcoin Layer 2 TVL Exceeds $2 Billion

---

💰DeFi

DeFi's TVL is also falling across the board.