MakerDAO Launches $1 Billion Tokenization Contest with BlackRock and Major Financial Players

Daily Top Performer — Ethena (ENA)

The SPX index was up by 0.28%, market sentiment was influenced by a failed assassination attempt on former President Donald Trump, which is perceived to boost his election chances due to his favorable policies like tax cuts and deregulation. The broader cryptocurrency market was up, with Bitcoin and Ether rising by 5.87% and 7.29%, respectively in the past 24 hours.

Today's top performer is ENA, which surged 13.4% after Lyra Finance and Ethena Labs introduce new Ethereum exposure strategy for sUSDe holders.

Ethena Labs (ENA), founded in 2023, introduces USDe, a synthetic dollar on Ethereum, offering a decentralized alternative to traditional stablecoins. It features the 'Internet Bond' for global savings, using delta-hedging to manage volatility and aiming to transform the financial ecosystem by enhancing Ethereum's utility. Lyra Finance, in collaboration with Ethena Labs, has introduced a strategy allowing sUSDe holders to gain leveraged exposure to Ethereum without risking initial capital. This strategy can triple the sUSDe yield when Ethereum prices rise, using bull call spreads based on previous yields. It's designed for those bullish on Ethereum, though not available in restricted regions.

Check Out the Latest Prices, Charts, and Data of ENAUSDT Perp and ENA/USDT Spot!

Talk of the Town:

MakerDAO has launched the Spark Tokenization Grand Prix, a competition aiming to onboard $1 billion of tokenized real-world assets (RWAs) as part of its Endgame strategy to improve governance and tokenomics. BlackRock’s BUIDL, along with other financial firms like Superstate and Ondo Finance, is participating to integrate traditional financial products, such as U.S. government bonds, into the Maker ecosystem. BlackRock's BUIDL, a tokenized treasury fund, has recently hit a $500 million market cap, underlining the growing interest and market potential in asset tokenization. This initiative reflects a significant trend towards the use of blockchain for financial services, with MakerDAO leading in the DeFi and collateralized debt position sectors.

Check Out the Latest Prices, Charts, and Data of MKRUSDT Perp and MKR/USDT Spot!

Spot Bitcoin ETF Flows:

As the Bitcoin climbed above $60K, Bitcoin Spot ETFs continue to record net inflows. Trump’s appointment of JD Vance, a crypto friendly candidate, as his partner in the upcoming election, has remarkably fueled the market sentiment.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!

Airdrop to Watch:

Eden Games, a subsidiary of Animoca Brands, is developing "Cosmic Royale," a blockchain-based kart racing game set to launch in Q4 this year as part of the Animoca-centric Mocaverse and Motorverse gaming ecosystems. The game, inspired by "Mario Kart," will feature 40-player races with a survival-themed finale and integrate NFT avatars from projects like Cool Cats and Bored Ape Yacht Club. A limited-access beta will start on July 24 for Moca NFT holders and Moca ID owners, who can earn points for a potential MOCA Coin airdrop. The full game will later be available for free on the Epic Games Store. The MOCA token, integral to this ecosystem, recently launched with a market cap of $127 million.