1ATH.Studio Altcoin Weekly

Major Victory in the Altcoin World

4 min readJun 23, 2024

SEC Drops Ether Investigation, Ethereum Community Rejoices

The SEC has finally decided to close its investigation into whether Ether (ETH) is a security, according to Ethereum developer Consensys. This means no charges will be pursued against ETH sales.

Consensys celebrated this as a “major win” for everyone involved in Ethereum, calling it a victory for developers, tech providers, and industry participants. The Ethereum community can now breathe a sigh of relief and maybe even throw a virtual party!

Binance’s CZ Holds Strong in BNB Despite Incarceration

Even from behind bars, Changpeng Zhao (CZ), the former CEO of Binance, still holds a whopping 64% of Binance Coin (BNB) — about 94 million tokens. This substantial ownership has many wondering how BNB will fare amid Binance’s regulatory hurdles, as Forbes reports. CZ’s grip on the crypto world seems to be as unshakeable as ever, even in his current situation.

ZKsync Token Takes the Stage with a Bang

The ZKsync token, making its grand entrance on Monday, is now trading at around $0.18. With a market cap over $600 million and a fully diluted value of $3.9 billion, it’s already seen nearly $4 billion in trading volume. Out of a maximum supply of 21 billion, over 3.6 billion tokens are in circulation. You can catch this star performer on exchanges like Bybit, Gate.io, and KuCoin.

Tether Launches Gold-Backed Synthetic Dollar

TETHER Holdings, the issuer of the largest stablecoin in the crypto market, has introduced a new synthetic dollar backed by gold, named aUSDT. This innovative token was launched on Tether’s Alloy platform and operates via smart contracts on the Ethereum Mainnet blockchain. Users can mint aUSDT through over-collateralization by depositing another Tether token that tracks the value of gold. With aUSDT, Tether continues to expand its range of stablecoins, offering new options for investors and traders in the crypto space.

ZachXBT Exposes Martin Shkreli’s DJT Token Shenanigans

Crypto sleuth ZachXBT has scored a cool $150,000 from Arkham for unmasking Martin Shkreli as the mastermind behind the DJT token. Announcing the scoop on X, Arkham said, “ZachXBT provided definitive proof at 11:49 p.m. UTC that Martin Shkreli created the DJT token.” Looks like Shkreli’s back in the headlines, proving once again that crypto sleuthing is no joke — and can pay pretty well too!

50 Cent’s Meme Coin Promotion Turns Into a Hacking Scandal

In the midst of a surge of celebrity meme coin launches, rapper 50 Cent appeared to promote a new Solana token called GUNIT via a series of tweets. However, the excitement was short-lived as 50 Cent later announced on Instagram that his Twitter and website had been hacked. In the aftermath, the project’s liquidity was swiftly withdrawn, leaving buyers out of pocket

Meme of the Week:

BREAKING: SEC permanently suspends investigation into Ethereum.

Top Altcoin Gainers and Losers of the Week

Altcoin of the Week

ZkSync — ZK

Coingecko: zkSync is a Layer 2 blockchain scaling solution on Ethereum that uses zero-knowledge rollups to deliver faster and cheaper transactions on its network while maintaining a high level of security.

Market capitalization of ZKsync (ZK) is $649,657,353 and is ranked #115 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of ZK tokens (3.7 Billion tokens are tradable on the market today).

ZK Price — $0.1764

Market Cap — $649,657,353

Fully Diluted Valuation — $3,712,327,734

24 Hour Trading Vol — $180,263,980

Circulating Supply — 3,675,000,000

Total Supply — 21,000,000,000

Max Supply — 21,000,000,000




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