1ATH.Studio Altcoin Weekly

4 min readJul 21, 2024

Bringing you the top stories in the altcoin worl this week!

ETH ETF Frenzy: Prices Set to Skyrocket

The long-awaited launch of spot Ether (ETH) exchange-traded funds (ETFs) in the U.S. is just around the corner and it’s set to send ETH prices soaring past $5,000. Bitwise’s Chief Investment Officer Matt Hougan spilled the beans on Tuesday, saying that although we might see some price rollercoaster action at first, the transformation of the whopping $11 billion Grayscale Ethereum Trust (ETHE) into an ETF could unleash a flood of capital. This big move is expected to fuel the price surge, making it an exciting time for ETH holders.

OKX Wallet Adds Support for Toncoin, Hits 100 Protocols

OKX has just hit a major milestone by adding support for the Toncoin (TON) network, which is closely linked with the Telegram messaging app. This latest addition brings the total number of protocols supported by the OKX Wallet to a cool 100. This move reinforces OKX’s “on-chain, any chain” philosophy, emphasizing their commitment to broad interoperability.

The OKX Wallet is a standalone Web3 product, functioning separately from OKX’s centralized exchange (CEX). Despite its independence, it integrates smoothly with OKX’s decentralized exchange (DEX), providing users with a versatile and comprehensive crypto experience.

Judge Reduces Sentence for Ex-Ethereum Developer

In a recent ruling, a federal judge has shortened the prison sentence for former Ethereum developer Virgil Griffith. Griffith, who pleaded guilty to violating sanctions on North Korea, had his sentence reduced by Judge Kevin Castel from 63 months to 56 months on July 16. With this new sentence effective from August 2, Griffith is now set to be eligible for release in January 2025.

Shiba Inu Dev Eyes Memecoin as Solution to CrowdStrike Fail

Shiba Inu’s lead developer, Shytoshi Kusama, believes that the memecoin ecosystem could be the answer to the recent CrowdStrike debacle. Several organizations, including emergency services, airports, and stock exchanges, reported system failures due to a bug in the latest version of CrowdStrike Falcon EDR. This bug caused blue screen of death errors and crashes for millions of Windows users globally, disrupting airlines, railways, and numerous businesses.

Arkham Transfers $487M in ARKMs to Coinbase Prime Custody

In a major regulatory compliance move, Arkham has withdrawn 304.5 million ARKM tokens, valued at roughly $487.24 million, from its vesting contract and transferred them to Coinbase Prime custody. This transaction includes 115.8 million ARKM tokens, worth $185.28 million, owned by Arkham CEO Miguel Morel.

Meme of the Week: A wild week in crypto featuring Bear fuds and shooters:

Top Altcoin Gainers and Losers of the Week

Altcoin of the Week

Turbo — $TURBO

Coingecko: Turbo is the first memecoin to be created completely using AI with a budget of $69. Since its creation, it has become a token that is now run by a decentralized community.