Welcome to another edition of the weekly round-up for Good News Onchain! Today, we're diving into some of the most exciting developments in the onchain world. From Bitcoin's impressive surge past $70,000 to the launch of Doodles Records featuring star-studded soundtracks, and the buzz around Polymarket's betting action on the Paris Olympics, there's plenty to catch up on. Let's explore these groundbreaking stories that are shaping the future of blockchain and cryptocurrency.
Bitcoin has broken past the $70,000 mark for the first time since early June, trading at $70,430 during early European hours. This remarkable surge is fueled by expectations surrounding the Federal Open Market Committee (FOMC) meeting on July 31 and the U.S. Consumer Price Index (CPI) report on August 14. Analysts from 10X Research suggest that an indication of an interest rate cut by the Federal Reserve could propel Bitcoin to even higher levels. Despite historical trends of flat or negative returns in August and September, Bitcoin's current upward momentum is notable, supported by broader market gains in Ethereum, Solana, and other major cryptocurrencies.
Analysts believe that Bitcoin's frequent testing of its upper trendline, along with favorable macroeconomic conditions, indicates a strong likelihood of continued upward movement. The cryptocurrency market is watching closely as these developments unfold, with the potential for Bitcoin to set new all-time highs.
Doodles, the entertainment powerhouse with Pharrell Williams as its chief branding officer, has announced the formation of Doodles Records in collaboration with Sony's Orchard. This exciting launch is commemorated with the release of the first project, the soundtrack for "Dullsville and the Doodleverse," a short film set to debut later this year. The initial EP features three original tracks: Coi Leray and Pharrell's "Not in the Store" (releasing in early August), Lil Wayne, Lil Yachty, and Kyle Richh's "Can't Hold Me Down" (late August), and Swae Lee, Lil Yachty, and Pharrell's "Doodleverse (Draw Me Closer)" (September).
CEO of Doodles, Julian Holguin, expressed immense pride in collaborating with legendary artists for their debut project, emphasizing the fusion of music, animation, and technology to create groundbreaking content experiences. Each release from Doodles Records will be accompanied by animated videos, creative directed by Doodles founder Burnt Toast, in partnership with the in-house animation studio Golden Wolf. Additionally, Doodles has launched DoodlesTV, a direct-to-community platform offering fans early access to music releases, video premieres, and more. Fans can purchase an all-access media pass for DoodlesTV's first season next week, which includes early viewing privileges for "Dullsville and the Doodleverse."
Polymarket, a decentralized crypto-powered prediction market, is buzzing with activity as the 2024 Paris Olympics unfold. Bettors have already placed millions of dollars on various outcomes, making the Olympics one of the most popular categories on the platform. With $1.2 million wagered on which country will win the most medals and $1.1 million on who will take home the most golds, the U.S. is currently the favorite, attracting $168,711 in bets for the most gold medals. Other popular wagers include outcomes in men’s and women’s basketball, soccer, and several swimming contests.
Polymarket's collaboration with payments firm MoonPay has made it easier for users to participate by allowing cryptocurrency purchases via credit and debit cards or bank transfers. This move has significantly boosted trading volumes, especially as interest in betting on U.S. election outcomes rises. The platform, which operates on Ethereum and Polygon blockchains, offers a wide range of prediction markets, from sports to politics, and has seen a surge in popularity. This unique integration of decentralized technology and traditional betting is shaping the future of wagering, offering a transparent and accessible experience for users worldwide.
This week, Base Camp kicks off in the scenic Idylwild, California, commemorating the one-year anniversary of Base, which was launched by Jesse Pollock via a Starlink connection at FWB Fest. The event promises an exciting lineup of speakers, including Jesse Pollock, Brian Armstrong (CEO and co-founder of Coinbase), and Vitalik Buterin (via live stream.) Additionally, 350 Base Builders will join Base Camp, bringing together some of the brightest minds in the industry.
Join the Base Camp Livestream on August 1, 2024, at 10 AM Pacific to be part of the festivities. Share your experiences at /basecamp001 on Warpcast and stay connected. This celebration marks a pivotal moment for Base and the broader onchain community, highlighting a year of innovation and growth.
Remember to always do your own research (DYOR) and stay informed. Until next time, keep building and stay optimistic!
