Pump.Fun lost to the top area in the rank of Solana Memecoin Launchpad in the first time since it was released, indicating a move to the Memecoin sector.
Number Cointelegraph had previously reported. While the general activity of the network shows a potential reshuffle rather than an expansion, some metrics indicate that Solana may increase, with a potential expansion in memecoin activity.
In addition, decentralized finances (DEFI) and traditional finances (Tradfi) can convert earlier than people think. Nelli Zaltsman, head of a change of blockchain payment to JPMorgan’s Kinexys, said this could happen in the next few years.
The Real-World Asset (RWA) Platform Projective Finance offers exposure to government-supported technology projects, while the NFT Platform Opensea expands the DeFI and Perpetuals after a major acquisition.
Meanwhile, security researchers stopped at a $ 10-million defi backdoor that threatened thousands of intelligent contracts for months.
Letsbonk Flips Pumpfun in 24 hours income: Defillama
A new Memecoin launchpad gains traction within the Solana ecosystem, which eclips the top platform at 24-hour sales.
On July 7, Defi Data Platform Defillama showed Letsbonk, a Solana Memecoin’s platform supported by Bonk (Bonk) Community, formed $ 1.04 million in income. This note doubled the pump.fun income of $ 533,412 for the same period.
The flow is marked by an unusual transition to dominance in Solana Memecoins, where the pump.fun is usually above. Although Letsbonk showed a spike in the sunny income, Pump.Fun remained dominant on the monthly chart, recording more than $ 37 million in the protocol’s income.
Letsbonk’s launch seems to have also affected Bonk Memecoin, as the token recorded a nearly 52% increase in value from the release of the Memecoin Launchpad. Bonk is one of the leading Solana Memecoins, with over 430,000 followers in X. The token has a market cap of nearly $ 1.8 billion, making it the 68th largest token in the crypto space.
Defi, Tradfi Convergence may come earlier than expected: JPMorgan
A JPMorgan’s executive said the division between Tradfi and Defi could disappear over the next few years.
At the RWA Summit Cannes 2025, Nelli Zaltsman said JPMorgan is trying to combine onchain assets with institutional payment infrastructure. It has signed a potential tipping point for adopting a mass blockchain.
The executive said their goal was to find a way to work with the public blockchain, as the environmental regulation allows. Zaltsman described JPMorgan’s approach as “asset agnostic,” indicating that the company aims to provide multichein access to clients.
The executive also said that the boundaries that separate the tradfi and defi may dissolve faster than expected. It is driven by the same willingness of the industries to cooperate.
Projective Finance opens the $ 7 million onchain lending pool for solar projects in Illinois
A RWA financing platform dedicated to maintaining a $ 7-million lending pool for public schools in Illinois.
The platform, projective finance, provides defi investors accessing municipal infrastructure in the United States. Pool lending will fund solar energy installations throughout Illinois. The company said infrastructure loans will be made completely onchain.
With blockchain technology, the project allows access to investments without the necessary mediators. Projuven finance co-founder Josh Chinnaswamy said that in the blockchain, investments can be made in full transparency.
The company allows investors to participate in government -supported projects, which usually have high credit ratings and lower default risks. This includes government initiatives dedicated to renewable energy. However, the platform does not provide investors to exposure to crypto assets.
Opensea expands on mobile with a rally deal, eyes “Onchain all app”
The non -fungible token platform (NFT) Opensea continues to expand beyond digital collectivity, capturing a mobile and token -focused token called rally.
The acquisition shows the goal of Opensea to exceed NFTs and develop a mobile -oriented platform for crypto trading. The platform said the future of NFT and token trading “fits your pocket.” Meanwhile, Rally posted on X that users can expect a new mobile experience later in 2025.
Rally co-founders Chris Maddern and Christine Hall will be part of the Opensea leadership, which brings their expertise to token trading on the platform.
In an X post, Maddern, who will be the new chief official of Openeasa technology, said the team is working on a product to grow the onchain economy for creators and entrepreneurs.
https://www.youtube.com/watch?v=GPWMOGCVLC
Researchers have filed a $ 10 million defi backdoor in thousands of intelligent contracts
A group of crypto security researchers have discovered and rescued thousands of intelligent contracts affected by a defi backdoor, which prevents potential losses of more than $ 10 million in crypto.
On Thursday, pseudonymous Venn Network Researcher Deeriroz shared that a backdoor exploitation has been quietly threatening the industry for months. The attack exploited the UNC-1967’s uneducated proxy contracts, allowing malicious actors to hijacked contracts before they were properly set up.
Venn Network co-founder and President or Dad Cointelegraph said the attacking is important contract deployment in front and injection of malicious implementation. “In the simplest terms, the attacker took advantage of some deployment that allowed them to put a well-hidden back door to thousands of contracts,” Dadosh told Cointelegraph.
Dadosh said the attack could target weak contracts at any point. However, since the team discovered the weakness on Tuesday, it cooperated with other security researchers to assess the affected contracts and secure the vulnerable property.
Overall -Defi Market
According to the data from Cointelegraph Markets Pro And tradingview, most of the 100 largest cryptocurrencies by market capitalization ended the week in green.
A token called Memecore (M) was the largest Gainer last week, rising by 1,058%, followed by hyperlane (hyper), which recorded more than 400% of the acquisitions this week.
Thanks for reading our summary of the most affecting defi development of this week. Join us next Friday for more stories, perspectives and education about the dynamic advancement of this space.
