Letsbonk generated over $1M in daily fees, outperforming rivals with its low-cost, high-activity meme token launch model.
Jack Dorsey unveiled Bitchat, a decentralized offline messaging app using Bluetooth mesh, emphasizing privacy and censorship resistance.
UAE regulators denied crypto investors’ eligibility for Golden Visas, rejecting TON’s unlicensed staking-for-visa program.
LETSBONK GENERATES OVER $1M IN 24-HOUR FEE REVENUE
According to DefiLlama, on July 7, meme coin launch platform Letsbonk recorded over $1.04 million in daily fee revenue, surpassing both Pump.fun ($920K) and Sky ($950K), ranking 16th among all blockchain protocols by fee income.
Letsbonk achieved this milestone thanks to its simplified token launch process and lower entry barriers, which have significantly reduced participation costs.
The platform also saw a massive spike in user activity, launching 16,802 meme coins in a single day — far more than Pump.fun’s 9,908 — and achieving 182 “graduated” tokens, compared to Pump.fun’s 31. Active addresses hit 37,000, second only to Pump.fun’s 88,000.
Analysis:
Letsbonk’s meteoric rise highlights growing demand for frictionless meme coin creation. Its streamlined UX and viral community appeal have unlocked new participation from retail users.
While the meme coin craze carries inherent volatility risks, platforms like Letsbonk are reshaping how tokens are created, distributed, and monetized — turning token issuance itself into a creator economy.
JACK DORSEY LAUNCHES FULLY DECENTRALIZED P2P CHAT APP “BITCHAT”
Jack Dorsey, CEO of Block, announced the launch of bitchat, a fully decentralized, peer-to-peer messaging app. Built as a weekend project, bitchat leverages Bluetooth mesh networking to enable local communication without the internet, servers, or phone numbers.
According to its GitHub documentation, the app encrypts all messages and embraces an IRC-style interface, focusing on privacy, censorship resistance, and offline functionality.
Analysis:
Though experimental, bitchat signals a shift toward decentralized communication protocols that prioritize sovereignty and resilience.
In a world increasingly concerned with surveillance and connectivity failures, bitchat offers a compelling blueprint for offline-first, secure messaging.
It aligns with Dorsey’s long-held ideals of open networks and could inspire a new wave of P2P social applications built outside the control of centralized infrastructure.
UAE DENIES CRYPTO INVESTORS’ ELIGIBILITY FOR GOLDEN VISA
The UAE’s Federal Authority for Identity, Citizenship, Customs & Port Security (ICP), Securities and Commodities Authority (SCA), and Virtual Asset Regulatory Authority (VARA) issued a joint statement denying recent claims that cryptocurrency investors qualify for the country’s 10-year Golden Visa.
The clarification came after the TON project announced a program offering Golden Visas in exchange for staking $100,000 worth of TON tokens and paying a $35,000 fee — a claim now explicitly denied by UAE regulators.
The agencies reaffirmed that only certain categories, including real estate investors, scientists, and top talents, are eligible under UAE law. They also confirmed that TON is not licensed or approved in the country.
Analysis:
This incident exposes the dangers of misleading crypto marketing, especially when tied to immigration incentives. It also reinforces the UAE’s careful balance between promoting innovation and maintaining strict regulatory standards.
While the country supports regulated virtual asset activity, visa policies remain distinct and rooted in clear legal frameworks — a reminder that credibility in Web3 comes from compliance, not hype.
〈CoinRank Crypto Digest (7/08)｜Letsbonk Generates Over $1M in 24-Hour Fee Revenue〉這篇文章最早發佈於《CoinRank》。
