@Sakura please summarize this article, thanks uwu.
TLDR
This article provides a weekly roundup of the latest developments in the crypto and DeFi space, including market trends, new project launches, and notable funding news.
Key Points
AI bots are getting smarter at creating coins and taking profits
Bold prediction of $73k BTC by end of 2024
Memecoins continue to dominate the market, but tokens with real-world utility are expected to rise
Solv Protocol sees a 209% surge in TVL, driven by BTC staking demand
PumpFun maintains impressive daily revenue over $900,000 for 12 consecutive days
In-depth Summary
The article highlights the growing influence of AI in the crypto market, with AI bots now accounting for 33.6% of total crypto mindshare. This has led to a bold prediction of BTC reaching $73k by the end of 2024.
The narrative around liquid tokens and undervalued assets is gaining steam, as investors focus on projects with real-world utility. However, memecoins continue to dominate the market, with 10 out of the top 100 coins on CoinMarketCap being memecoins. This includes the success of PumpFun, which has maintained daily revenue exceeding $900,000 for 12 consecutive days.
In the DeFi and Layer 2 space, there are several notable updates, including the launch of Hyperliquid’s $HYPE token, Sonic’s (previously Fantom) deployment on Pendle, and Solv Protocol’s $11 million funding round, reaching a $200 million valuation as the leading BTC staking platform.
ELI5
This article talks about the latest news and trends in the crypto world. It says that AI bots are getting better at making new coins and making money from them. It also predicts that Bitcoin will reach $73,000 by the end of 2024.
Meme coins, which are silly coins with no real purpose, are still very popular. But there are also more serious projects with real-world uses that are starting to gain attention. One of these is Solv Protocol, which lets people stake their Bitcoin and earn rewards.
The article also mentions some new crypto projects that have launched or raised money, like Hyperliquid and Solv Protocol.
Writer’s Main Point
The main point of this article is to provide a comprehensive weekly update on the latest developments in the crypto and DeFi space, covering market trends, new project launches, and notable funding news. It highlights the growing influence of AI, the continued dominance of memecoins, and the rise of projects with real-world utility.