Crypto Pre-drink: July 1, 2024

Crypto Pre-Drink


  • Polymarket shows a 46% chance of Biden dropping out of the 2024 presidential race.
  • TON ecosystem faces phishing threats amid a 4,500% TVL surge.
  • Polkadot (DOT) defies market trends, rising 8% due to interoperability advancements.


In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.



Biden’s Withdrawal Odds Increase

Polymarket, a decentralized prediction market, now shows a 46% chance of President Biden dropping out of the 2024 presidential race before November. This surge in odds follows a shaky debate performance, raising concerns about the 81-year-old incumbent’s ability to secure another term. The crypto community watches closely as political developments could impact regulatory landscapes.


TON Ecosystem Faces Phishing Threats Amid Growth

The Open Network (TON) ecosystem is experiencing a surge in phishing attacks as its Total Value Locked (TVL) skyrockets by over 4,500% since early 2024, reaching $650 million. Users with anonymous Telegram numbers are particularly vulnerable. Despite security concerns, TON’s daily transfer volume has reached up to 10% of Bitcoin’s, showcasing the network’s rapid expansion.


Amidst broader market volatility, Polkadot‘s native token DOT has surged 8% over the past week, trading at $6.15 with a market cap exceeding $8.8 billion. This growth is fueled by potential interoperability advancements, including a proposed Polkadot-Cardano bridge and the recent activation of SnowBridge, a Polkadot-Ethereum bridge.



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