| Hey Cryptonews, here's our curated daily bundle of crypto news. | |  | Sponsored | Mooky's 12-stage presale live now! |  | Mooky token is currently going through its presale Users can buy the token using ETH, BNB and USDT on the website
Mooky, a community DeFi token that aims to help plant trees around the world and inspire change is currently going through its presale. The platform's native token MOOKY offers holders a chance to be a part of the platform and participate in its governance.The platform also has 3D NFTs that offer both ROI and utility to its holders.
MOOKY is a 0% tax token that does not have any slippage requirements when users buy or sell the token. With a total supply of 500 billion, the token has a locked in liquidity period of 2 years. The platform's code is fully audited by SpyWolfNetwork and the team is verified by Solidproof to ensure anti-rug project security.
The presale is in its 7th stage currently and users can directly buy MOOKY using ETH, BNB or USDT that can be claimed once the public sale ends. | | Learn more | | Ethereum, Lido Finance lead in revenue generation |  | Ethereum and Lido Finance shone as top revenue generators TVL stood impressively at over $47 billion, considering the DeFi ecosystem
In a recent revenue ranking released by Token Terminal, Ethereum and Lido Finance made their impressive mark as two of the leading revenue juggernauts, amassing millions while influencing DeFi's Total Value Locked.
As per data covering the past month, Ethereum held the top position, accumulating $374.9 million in revenue. Lido Finance secured the third spot with a revenue of $86.9 million.
Furthermore, Ethereum's milestone extended beyond revenue figures alone. The platform collected over $6.1 million in fees as the weekly average surpassed $9 million.
As for the DeFi ecosystem, the Total Value Locked stood at over $47 billion. Notably, Lido Finance accounted for nearly 27% of the total TVL. As of this writing, Lido Finance's TVL stood at $12.75 billion.
While it may not be directly linked to the generated revenue, Ethereum's price has been experiencing positive trends recently. At the time of writing, ETH was trading at approximately $1,845, exhibiting a modest 1% increase on the daily timeframe. | | Learn more | | SOL: More than half of daily fees were paid in Q1, thanks to priority fees |  | The Solana network's outages appeared to have diminished as priority fees stepped in, bringing relief. Messari attributed this improvement to the implementation of priority fees.
Implementing priority fees played a crucial role in alleviating the disruption from outages as it increased the cost of spamming the network. By the end of Q1, it was observed that more than 50% of daily fees were paid by users who chose to prioritize their transactions.
As of this writing, key components such as the cluster, RPC nodes, explorer, and Solana.com were all fully operational and had maintained this state for the last 90-day period.
Solana also experienced a positive development as the weekend concluded with an almost 10% increase in value. However, SOL had faced a significant decline in value over the past year, losing over 50%. Various factors, including network outages, have played a role in contributing to this downtrend in price. | | Learn more | | SHIB sees progress as new addresses soar to new ATH |  | Finally, Santiment revealed an uptick, showing seven-day active addresses increasing to 20,600, at the time of writing, Despite this, SHIB's weighted sentiment hovered around the negative region, at -0.619.
For a while, the number of new Shiba Inu addresses had been decreasing. But between 20 May and 26 May, the tides changed. The number of new addresses on the SHIB network reached 2,538 on 26 May— the highest it has been since February.
Although the Shiba Inu ecosystem has made progress, the same cannot be said for long-term holders of the token. About 78% of SHIB holders were at a loss due to SHIB's abysmal performance in the last few months. At press time, the token's price decreased by 14.57% in the last 30 days.
However, WhaleStats revealed 80% of the holders had large bags of tokens. SHIB also remained the most traded token by Ethereum whales over the last day. | | Learn more | | An 8-year-dormant Ethereum wallet moved $14.7M
|  | An Ether wallet has moved a total of 8,000 ETH, after 8 years of dormancy At the time of writing, the ETH stash was worth approximately $14.7 million
An Ether wallet that has been inactive since 2015 has suddenly awoken after eight years of dormancy, moving a total of 8,000 ETH in just two minutes.
Its owner began with a cautionary transfer of 1 ETH to a new wallet. One minute later, they transferred the remaining 7,999 ETH to the new wallet address. At the time of writing, the ETH stash was worth approximately $14.7 million.
The wallet had participated in Ethereum's Initial Coin Offering in 2015 and remained inactive until May 27. At the time, the 8,000 ETH was purchased at a price of just $0.31 per token, which places the initial investment amount at around $2,500. This marks a staggering 590,000% gain for the owner. | | U.S. debt default deal blocks proposed 30% crypto mining tax, says Ohio Rep |  | The proposed bill includes a two-year suspension of the debt ceiling, allowing the U.S. government to fulfill its financial obligations The legislation must first receive approval from Congress before it can be enacted
A tentative agreement to prevent the U.S. government from defaulting on its debts may remove a proposed energy tax on cryptocurrency miners, stated Ohio Rep. Warren Davidson. On 28 May, lawmakers unveiled a bill draft that permits raising the debt ceiling after discussions with President Joe Biden and House Speaker Kevin McCarthy.
The proposed bill includes a two-year suspension of the debt ceiling, enabling the U.S. government to borrow funds and meet its financial obligations, thus preventing an economic catastrophe. President Biden expressed a desire for the deal to incorporate tax hikes for corporations and high-income individuals, but the latest draft indicates that this is unlikely to be included.
Following negotiations, President Biden said,
"....The agreement [...] represents a compromise, which means no one got everything they want."
In a tweet, Rep. Davidson highlighted that the bill blocked "proposed taxes," saving miners from an increase in electricity taxes. However, it is important to note that the legislation must first receive approval from Congress before it can be enacted.
| | Ledger postpones the launch of its "Recover" service |  | A few crypto community members expressed concerns regarding security elements of Ledger's new service Some others opined that the feature may help crypto holders in managing their seed phrases effectively
Hardware crypto wallet firm Ledger received strong backlash from the crypto community for introducing its paid "Recover" service. The service, aimed at enabling users to back up and restore their private seed phrase, faced concerns regarding security elements. Consequently, Ledger chose to delay the launch of the service in response to the expressed apprehensions.
Ledger CEO Pascal Gauthier announced that the launch of Ledger Recover will be delayed until the code behind the Recover protocol is made open-source. Gauthier emphasized that the service is optional and is aimed at onboarding the next 100 million users to the crypto industry by providing easier access to secure self-custody solutions.
Opinions within the crypto community regarding Ledger Recover currently stand divided. Some of Ledger's existing users are unhappy with the concept, arguing that the concept goes against the core ideals of Ledger's customers. However, others in the industry see potential in the service, viewing it as a valuable tool for attracting new users and assisting current crypto holders in managing their seed phrases effectively.
| | Bali crypto payment ban sparks debate |  | | The government of Bali is taking strong measures against tourists using cryptocurrency for payments. In a press conference held on 28 May, Bali Governor Wayan Koster reminded everyone that only Indonesia's fiat currency is accepted for payments. Governor Koster warned that tourists using crypto will face severe consequences, including deportation, fines, and other strict penalties.
The meeting was attended by Indonesia and Bali's chief police inspector and the head of the Bali Representative Office for Bank - Trisno Nugroho, who reiterated that while crypto trading is permitted, using crypto for payments is prohibited.
The community's response to the cryptocurrency payment ban in Bali varied, with some finding it reasonable, while others reconsidering their travel plans and vowing not to visit again. Here it is noteworthy that tourism plays a significant role in Bali's economy, accounting for nearly 28% of its income and providing employment opportunities. Hence, a decline in tourism due to the ban could have a negative impact on the country's income.
| | Bitcoin & Co. settle for mixed fortune |
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