Cryptocurrency
Magic Eden integrates Solana’s compressed NFTs into marketplace

Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning digital collectibles.
Today we’re releasing support for cNFTs (find them in our popular collections)
cNFTs are a new wave of NFT creation only possible on Solana. The “c” stands for compressed (not Cardano don’t worry) which allows them to be produced at a fraction of the cost of traditional… pic.twitter.com/WbO4qqWLEt
— Magic Eden (@MagicEden) September 14, 2023
cNFTs are different from the usual Solana NFTs because their data are compressed and are stored off-chain. Because of this, production in larger quantities is more feasible as they require lesser fees to mint.
According to Magic Eden, this type of NFT is ideal for the creation of mass-produced collections in various industries like gaming, music, events and the metaverse. The NFT marketplace believes that it allows creators to reach wider audiences without spending more.
The NFT marketplace also believes that by lowering the costs involved in NFT production, it can potentially promote adoption and become an “easy access point” for new people to try out collecting NFTs. With lower costs, users can collect NFTs without risking a large amount of funds to acquire collections. It lowers the risk of losing money over NFTs.
cNFTs are powered by Solana’s state compression, a feature that allows as many as 1 million NFTs to be minted with just around $110. Compared to minting NFTs on Ethereum which could cost anywhere from $2.9 to over $30 to mint per NFT, the cost of minting is drastically lowered with cNFTs.
Related: ‘WTH did I just witness?’ Magic Eden turns porno after hosting service hacked
While there may be benefits to hosting NFTs off-chain, it also sometimes comes with challenges of its own. In 2022, NFTs that were minted on the crypto exchange FTX broke down and showed blank images as the exchange went bankrupt. An engineer pointed out that the NFTs were hosted using a Web2 API, instead of the blockchain and warned that there’s a lesson to be learned in hosting NFTs using Web2 technology.
Magazine: NFT Collector: Giant Swan’s gothic VR dreamscapes… royalty nightmare on OpenSea
Cryptocurrency
Coinbase Tanks 11% Pre-Market After $1.5B Q2 Revenue Miss

Coinbase shares fell sharply after the company reported second-quarter earnings that missed expectations. Total revenue for the quarter came in at $1.5 billion, representing a 26% decline from the previous quarter.
The shortfall was largely driven by weaker-than-expected transaction revenue, which fell 39% quarter-over-quarter to $764 million.
Missing Expectations
In the official release, Coinbase revealed that its subscription and services revenue also declined 6% to $656 million. Despite efforts to reduce variable costs, operating expenses climbed 15% to $1.5 billion. Coinbase attributed this largely to the $307 million hit related to the data breach disclosed in May.
The crypto exchange recorded a net income of $1.4 billion, but this figure included $1.5 billion in pre-tax unrealized gains from strategic investments, including in Circle, as well as a $362 million pre-tax gain from its crypto investment portfolio. On an adjusted basis, net income stood at just $33 million, with adjusted EBITDA reaching $512 million.
Coinbase’s trading activity also underperformed the broader crypto spot market, as global and US crypto spot volumes declined 31% and 32% respectively. Meanwhile, its total trading volume fell 40% to $237 billion, and the consumer segment witnessed a 45% drop to $43 billion.
Consumer transaction revenue plunged 41% to $650 million, as volume shifted toward Simple trades amid low volatility. Institutional transaction revenue also saw a similar pattern, down 38% in both volume and revenue.
While Base Chain activity grew, other transaction revenue dropped 21% as average revenue per transaction declined.
As of the close on the previous trading day, Coinbase (COIN) shares were priced at $377.76, up slightly by $0.28. However, pre-market trading shows a sharp decline, with the stock down $42.30 (-11.20%) to $335.46. This steep drop suggests a strong negative reaction from investors, likely in response to recent earnings results.
Despite grappling with declining revenues and rising costs, Coinbase is doubling down on product innovation.
“Everything App”
Earlier this month, Coinbase rebranded its Wallet as the Base app, launching a crypto-focused “everything app” that merges trading, social media, USDC payments, mini-apps, and tokenized posts.
Announced at its “A New Day One” conference, the app runs on Coinbase’s Ethereum Layer 2 network and integrates Farcaster for social feeds, Zora for post tokenization, and encrypted XMTP chat. Users can earn from tips, interact with AI agents, and make one-tap payments.
The platform also introduced Base Pay for Shopify merchants and plans 1% USDC cashback in the US. The app is in beta, while a full public release and developer tools are expected soon.
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Cryptocurrency
Dogecoin Slides 8% but Long-Term Channel Holds, Can DOGE Rebound?

TL;DR
- Dogecoin dropped to $0.20, moving in a $0.23 to $0.20 range during heavy selling.
- Analysts see support in the long-term channel and a wedge pattern aiming for $0.265.
- Large holders bought 310 million coins, while Bit Origin added 40 million to reserves.
Dogecoin Records Sharp Daily Decline
Dogecoin (DOGE) fell 8% in the past 24 hours, dropping from $0.22 to $0.21. This was one of the steepest daily moves for the token in July. The price action moved within a $0.23 to $0.20 range, facing resistance at the top and heavy selling near the session close.
However, trading volumes spiked, with a midnight surge to 1.25 billion DOGE, which points to large liquidations and cascading sell orders from leveraged positions.
Dogecoin trades at $0.20 as of press time, down 11% over the past week, giving it a market cap of $31 billion.
Long-Term Channel Remains Intact
Trader Tardigrade shared a 1-month chart showing DOGE inside a long-term ascending channel that has held since 2014. DOGE has often bounced from the lower boundary of this channel, shown in pink on the chart.
$Doge/M1#Dogecoin Long term Channel has been established pic.twitter.com/m8nfq29Q8M
— Trader Tardigrade (@TATrader_Alan) August 1, 2025
Meanwhile, the current price is near the lower-middle part of the channel, an area that has led to multi-month rallies when the trend held. Dogecoin’s long-term structure stays intact while it trades within this ascending channel, even after the recent decline.
In addition, Trader Tardigrade also noted that Dogecoin’s monthly candle closed as the third consecutive bullish engulfing candle, which he described as a setup for a potential “move to Valhalla.”
Short-Term Wedge and Institutional Activity
Ali Martinez noted that DOGE may be forming a falling wedge on the 1-hour chart, with a projected target of $0.265. A move above $0.229–$0.230 would confirm bullish momentum, while $0.215–$0.210 remains key support if the wedge fails.
Dogecoin $DOGE could be forming a falling wedge, which projects a target of $0.265! pic.twitter.com/P9WQbMrXfI
— Ali (@ali_charts) July 31, 2025
Institutional wallets acquired 310 million DOGE during the correction. Bit Origin added 40 million DOGE to its treasury under a $500 million diversification program. Broader crypto markets remain pressured by macroeconomic uncertainty, with inflation and equity risk shaping short-term demand.
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Cryptocurrency
Pepe Dollar ($PEPD) Presale Picks Up Pace as Ethereum (ETH) Hovers Over $3,600

[PRESS RELEASE – Covina, United States, August 1st, 2025]
Within the Ethereum ecosystem, Pepe Dollar ($PEPD) has entered its presale phase. Described as a meme token with integrated utility and cultural references, $PEPD introduces a tokenomics structure intended for long-term application. Certain Ethereum wallet holders have initiated ETH transfers to the presale, indicating early transactional activity.
Overview of $PEPD’s Positioning
Pepe Dollar ($PEPD) enters the market as a parody token referencing central banking themes, aiming to engage users through cultural commentary and decentralized finance (DeFi) mechanisms. Unlike traditional meme tokens, which often adopt simplified or repetitive token structures, $PEPD integrates design elements that combine cultural motifs associated with Pepecoin and components of DeFi architecture.
Comparison to Prior Meme Tokens
Pepe Dollar ($PEPD) enters the Ethereum ecosystem following the emergence of other meme tokens such as Pepecoin ($PEPE), $BONK, $LILPEPE, and $HYPER. The $PEPD model incorporates a tokenomics framework that includes a burn mechanism framed as a commentary on centralization. Its listing on CoinMarketCap has contributed to broader visibility. On-chain data indicates that several large Ethereum wallets have begun transacting with the token during its presale phase.
Pepe Dollar Presale – ETH’s Capital Rotation
Pepe Dollar’s presale architecture and project identity offer a compelling setup:
Presale Fundamentals:
- Current Price: $0.004688
- Tokens Sold: 166,938,905
- Next Presale Price (Stage 2): $0.006495
- Launch Price: $0.03695
Tokenomics and Supply
Pepe Dollar ($PEPD) will have a fixed supply of 3.6951 billion tokens. According to the project, 29% of the total supply is scheduled to be permanently removed at launch through a mechanism termed the “Federal Burn,” which is framed as a symbolic reference to traditional inflationary monetary systems.
Additional details disclosed by the development team include:
- No developer tax mechanisms
- No backdoor unlock functions
- A publicly documented tokenomics model
Ethereum-Native Infrastructure
Pepe Dollar is designed to launch natively on Ethereum and integrate with existing Ethereum-based DeFi tools. The protocol includes functionality to support a meme asset minting platform, enabling users to create, deploy, and govern new assets using $PEPD. The project describes itself as operating at the intersection of cultural commentary and decentralized finance.
Project Links and Official Channels
About Pepe Dollar ($PEPD)
Pepe Dollar ($PEPD) is a decentralized Layer-2 payment infrastructure designed for the meme economy. Positioned as a satirical digital asset, $PEPD offers an alternative approach to traditional financial systems and aims to facilitate value creation within decentralized ecosystems.
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