Hey there, PoI readers! 🎉 

It's your favorite newsletter writer, Mochi, back with another scoop of delectable tech and web3 news. From a savvy Solana trader's 993x memecoin gains and the SEC's potential change of heart on spot Ether ETFs to a heated decentralization debate and Notcoin's meteoric rise on Telegram, we've got a smorgasbord of stories to dive into. So, grab your favorite crypto-themed snack and let's embark on this exciting journey together! 🌟

INTEL BRIEF

🟧 A savvy trader turned $2,275 worth of Solana into $2.26 million by investing in the newly-launched memecoin 1DOL, spurring allegations of insider trading.

🟧 The SEC has reportedly contacted major U.S. exchanges to update their applications for spot Ether ETFs, potentially signaling a higher likelihood of regulatory approval.

🟧 Ethereum researcher Dankrad Feist and Helius Labs CEO Mert Mumtaz engage in a heated debate on X about the importance of decentralization and the crypto market's priorities.

🟧 Notcoin, a blockchain game built on The Open Network (TON), has attracted over 30 million users on Telegram in less than two months, driving crypto adoption and onboarding users to Web3.

Solana Trader's 993x Memecoin Gains Spark Controversy

A clever trader, known as "sundayfunday.sol," recently turned a mere $2,275 worth of Solana tokens into a jaw-dropping $2.26 million profit in just eight hours. How, you ask? By investing in the newly-launched memecoin 1DOL. That's right, this trader made an astounding 993x gain on their initial investment!

But wait, there's more! It turns out that this wallet is also the largest pre-sale participant of another memecoin called Book of Memes (BOME). The trader bought over $72,000 worth of BOME tokens at presale, which skyrocketed to a whopping $40 million at its peak. Talk about having a golden touch!

Despite taking some profits, the trader remains the largest BOME holder. However, the profitable trade has raised eyebrows, with some crypto enthusiasts alleging insider trading and money laundering. Others point to the low liquidity of the trading pool, making it difficult for the trader to cash out without tanking the price of 1DOL.

The memecoin frenzy seems to reflect a younger generation's disillusionment with the current fiscal system. As Hao Yang from Bybit exchange puts it, "The success of memecoins can be seen, like punk rock, as a symptom of disillusioned young investors who have seen the opportunities afforded to their parents disappear."

So, what do you think? Is this a case of a savvy trader with a nose for memecoins, or is there some insider trading tomfoolery afoot? One thing's for sure: the world of memecoins is like a carnival funhouse - full of twists, turns, and the occasional distorted reflection of reality. But hey, that's what keeps things interesting, right?

A Solana trader turned $2,275 into $2.26 million by investing in the memecoin 1DOL.

The trade has sparked allegations of insider trading and money laundering.

The memecoin frenzy may reflect young investors' disillusionment with the current fiscal system.

SEC's Outreach to Exchanges Sparks Hope for Spot Ether ETF Approval

It seems like the SEC might be having a change of heart when it comes to spot Ether ETFs. According to recent reports, the commission has been reaching out to major U.S. exchanges, asking them to update their applications for these much-anticipated investment vehicles.

The SEC contacted the Nasdaq, the Chicago Board Options Exchange (CBOE), and the New York Stock Exchange (NYSE) to make changes to existing spot Ether ETF applications before the regulatory deadline. This move has sparked speculation that the commission may be gearing up to approve these ETFs, which have been the subject of much debate and anticipation in the crypto world.

In fact, two ETF analysts have predicted the SEC approval for a spot Ether ETF from a measly 25% to a whopping 75% after hearing some juicy gossip about applicants being asked to accelerate their filings. It's like the SEC is suddenly ready to party with Ether!

If the SEC gives the green light to VanEck's application, it could pave the way for a whole bunch of other spot Ether ETFs from big names like ARK 21Shares, BlackRock, Fidelity, Hashdex, and Invesco Galaxy. Fidelity has even amended its filing to clarify that the Ether tied to its investment vehicle won't be staked, hinting at a possible requirement for approval.

Of course, there's still a chance that the SEC could rain on everyone's parade and deny these applications. But with all this recent activity, it seems like the tide may be turning in favor of spot Ether ETFs. Keep your eyes peeled, because it is definitely going to be worth it.

The SEC has contacted major U.S. exchanges to update spot Ether ETF applications.

ETF analysts have raised the odds of SEC approval from 25% to 75%.

If approved, it could pave the way for multiple spot Ether ETFs from various asset managers.

Decentralization Debate: Ethereum Researcher and Helius Labs CEO Clash on X

Ethereum researcher Dankrad Feist, the brains behind the concept of Danksharding, sparked a heated discussion by claiming that Ethereum is "building for the real world" and "solving ALL the necessary problems."

But wait, not everyone agrees! Enter Mert Mumtaz, the CEO of Solana developer platform Helius Labs. Mert argued that the crypto market has a better understanding of the "necessary problems" than any single entity. He suggested that market participants who value decentralization and censorship resistance would naturally flock to Ethereum "if they think it realizes such a vision the best."

However, Feist wasn't convinced. He expressed doubts about whether market participants truly value decentralization, stating that "banks today obviously have good PMF without being decentralized in any way." Shots fired!

Mert countered by pointing out that market dynamics are not homogenous, and you can't be sure if the problems being solved are the right ones. Feist remained steadfast in his belief that the market doesn't "value decentralization that highly" and declared that he would "never let the market be the ultimate judge."

This debate comes on the heels of controversy surrounding Ethereum Foundation's Justin Drake taking on a paid adviser role at EigenFoundation, which some see as a potential conflict of interest. EigenLayer, an Ethereum restaking protocol, has also generated buzz and mixed emotions with its "life-changing" airdrop and restrictive token conditions.

Ethereum researcher Dankrad Feist and Helius Labs CEO Mert Mumtaz clash on X over the importance of decentralization.

Feist believes Ethereum is solving all the necessary problems, while Mert argues that the market has a better understanding of these issues.

The debate highlights differing views on the crypto market's priorities and the role of decentralization.

Notcoin's Meteoric Rise: How a Telegram Game is Driving Crypto Adoption

Notcoin, an "idle game" built on The Open Network (TON), has managed to attract a jaw-dropping 30 million users on Telegram in less than two months. That's right, this little game is onboarding users to Web3 faster than you can say "crypto adoption"!

So, what's the secret sauce behind Notcoin's explosive growth? According to Inal Kardan, gaming lead at TON Foundation, it's all about leveraging Telegram's massive user base and using existing Web2 technologies integrated with blockchain functionality. Kardan describes Telegram as an accessible and "somewhat untapped distribution channel" that's perfect for games like Notcoin.

But it's not just about the numbers. Notcoin and other Telegram-based games are also shifting away from the "play-to-earn" models seen in popular Web3 games like Axie Infinity. Instead, they're adopting newer approaches that include traditional monetization tactics like advertising.

Yat Siu, co-founder of blockchain gaming venture capital firm Animoca Brands, believes that the ability to use viral growth mechanics on Telegram and TON has contributed to the success of these Web3 games. He points out that Web2 players like Apple and Google have been less flexible with Web3 games on their platforms, giving TON a competitive advantage.

The data speaks for itself. Gamee, a Web3 gaming firm actively deploying hyper-casual games on TON and Telegram, has seen its average daily active user count increase to around one million. That's the power of engaging users with staking and idle game mechanics!

Game developers are also eyeing the TON ecosystem, with companies like Elympics providing blockchain game infrastructure to help studios and developers deploy Web3 games on these platforms. Michał Dąbrowski, CEO and founder of Elympics, believes that Web3 functionality is reinvigorating the idle gaming genre by giving users ownership and value from their time spent playing.

So, It looks like Notcoin and other Telegram-based games are leading the charge in driving crypto adoption. With millions of users already onboarded to Web3, it's clear that the future of gaming is looking more decentralized than ever!

Notcoin, a blockchain game on TON, has attracted over 30 million users on Telegram in less than two months.

Telegram's massive user base and the use of existing Web2 technologies integrated with blockchain functionality have contributed to the success of Web3 games.

Game developers are increasingly looking to the TON ecosystem to deploy Web3 games and drive crypto adoption.

And there you have it, my dear PoI readers! I hope this edition of our newsletter has left you feeling enlightened, amused, and maybe even a little more bullish on the future of crypto. Remember to keep an open mind, stay curious, and never stop learning. Until next time, this is Mochi, bidding you adieu with a virtual fist bump! 👊

P.S. We love hearing from you! Share your thoughts, questions, and favorite blockchain memes with us. Every voice matters in the PoI community! 📣❤️ And don't forget to spread the love by sharing this newsletter with your crypto-curious friends and family.

🍨📰 Catch you in the next issue! 📰🍨