In a bold move to push blockchain technology into the mainstream, Sony has unveiled its own blockchain, Soneium, designed to revolutionize the Web3 landscape. Launched by Sony Block Solutions Labs (Sony SBL), a collaboration between Sony Group and Singapore-based Startale Labs, Soneium is set to accelerate Web3 innovation through a new layer-2 network built on Ethereum. This initiative underscores Sony’s commitment to bridging the gap between decentralized technology and everyday consumer applications.
Soneium Minato – A Glimpse Into the Future
On August 26, Sony SBL introduced Soneium Minato, a testnet that serves as the first step toward realizing their Web3 vision. Described as a “risk-free” environment, the testnet is accessible to developers and creators eager to explore and build on the Soneium blockchain. Unlike many other testnets, Soneium Minato does not rely on a production blockchain; instead, it uses a test version of crypto assets for in-app payments, allowing users to experiment without risking real assets.
This innovative approach is designed to lower the barriers to entry for developers, fostering a community of creators who can explore the full potential of Web3 technology. By offering a development environment compatible with Ethereum, Sony SBL ensures that Soneium Minato is both fast and cost-effective, making it an attractive option for those already familiar with existing Web3 applications.
What Sets Soneium Apart?
Soneium aims to leverage the Optimism blockchain ecosystem’s OP Stack, a highly customizable toolkit that enables developers to create their own networks. This technology is designed to connect with other networks within the Optimism ecosystem through what is known as the “Superchain.” By using this advanced framework, Soneium intends to deliver applications across gaming, finance, entertainment, and more, making Web3 technology more accessible and efficient for a broader audience.
Jun Watanabe, chairman of Sony Block Solutions Labs, highlighted two significant challenges that Web3 currently faces: a limited user base and the absence of a killer application that has gone mainstream. Soneium’s mission is to address these issues by creating new use cases and expanding the reach of Web3 technology to a wider audience. This is achieved through Sony’s extensive distribution network, which is poised to introduce Web3 applications to mainstream markets.
What’s Next for Soneium?
Sony’s foray into blockchain is more than just a technological experiment; it’s a strategic move to position the company at the forefront of the Web3 revolution. The tech giant has announced plans to make Soneium’s mainnet publicly available in the near future, offering users free access to its applications and services. This move is expected to attract a diverse range of users, from blockchain enthusiasts to everyday consumers, further solidifying Sony’s role as a leader in the digital age.
Soneium’s development is being closely watched, especially after its testnet launch in partnership with Astar Network. This collaboration is expected to provide Soneium with a solid foundation, integrating Astar zkEVM’s assets and infrastructure to create a vibrant and diverse blockchain ecosystem from day one.
As Sony prepares to reveal more details about Soneium at the upcoming WebX event in Tokyo, the blockchain community is abuzz with anticipation. With its ambitious plans and innovative approach, Soneium could very well be the catalyst that propels Web3 technology into the mainstream, marking a new chapter in the evolution of the internet.
Smart Money wallets have been aggressively offloading TRUMP, BNKR, and PWEASE in the last seven days, raising red flags for these trending tokens. TRUMP has faced the heaviest pressure, with over $380,000 in net outflows, as its price remains stuck in a sharp downtrend.
BNKR, despite posting strong weekly gains, has also seen large traders liquidating their positions, signaling potential profit-taking. Meanwhile, PWEASE is experiencing similar bearish flows as larger wallets continue to trim exposure despite the recent buzz around the meme coin.
This steep correction has coincided with notable smart money activity, as key wallets have been heavily exiting their positions. In the last seven days alone, smart money wallets sold $382,660 worth of TRUMP while only buying $1,240, resulting in a sharp net outflow of $381,420.
This imbalance suggests that larger, more informed investors are losing confidence in TRUMP’s short-term prospects, contributing to the downward momentum.
If this corrective trend persists, TRUMP could fall further and retest its next key support level, $9.54. Failure to hold this level may expose the asset to deeper losses.
However, if TRUMP manages to reverse its current bearish trend and regain bullish momentum, it could attempt to challenge resistance at $12.51.
A successful breakout above this level may open the door for a move towards $13.88. If buying pressure strengthens further, TRUMP could rally back up to $17.75, reclaiming levels closer to where it was trading before the recent downturn.
BankrCoin (BNKR)
BNKR has surged by 19% over the past week, positioning itself as one of the top-performing AI coins and one of the most talked-about assets on the Base chain.
This recent rally has drawn significant attention, helping BNKR stand out in a competitive market. However, despite the price increase, smart money wallets have shown mixed behavior—while they purchased $75,700 worth of BNKR in the last seven days, they also offloaded $213,730, resulting in a net outflow of $138,000.
This suggests that although BNKR is trending, larger investors may be capitalizing on the recent rally to secure profits.
If this selling pressure persists, BNKR could lose its recent momentum and slip below key support levels at $0.00019 or even $0.00018, marking its lowest levels since mid-February.
On the other hand, if BNKR manages to reignite the bullish sentiment that fueled last week’s gains, it could retest resistance at $0.000225.
A breakout above this level could pave the way for a further move toward $0.000282, signaling a strong continuation of its upward trend.
PWEASE
PWEASE, a Solana meme coin satirizing US Vice President JD Vance, has been drawing attention amid volatile market conditions.
Over the past seven days, smart money wallets have shown a bearish stance. They purchased $166,720 worth of PWEASE but sold $291,000 in the same period, resulting in a net outflow of $124,320.
This suggests that while the token has gained some traction, larger investors are currently leaning towards reducing their exposure, adding selling pressure to the coin.
If this corrective trend continues, PWEASE could move lower and test the key support at $0.0125. If that level fails to hold, a deeper decline toward $0.0059 may follow.
However, should PWEASE manage to attract renewed buying interest and reverse the downtrend, it could push up to challenge resistance at $0.0295.
A breakout above this level could open the door for further upside toward $0.040, signaling a potential shift back to bullish momentum for the meme coin.
Speculation about Nvidia adding Bitcoin to its treasury reserves has surfaced recently. These unconfirmed reports lead to questions about the potential for increased institutional adoption of Bitcoin and the possible performance of such a move for Nvidia, whose stock value has fallen considerably this year.
BeInCrypto interviewed representatives from Banxe, FINEQIA, CoinShares, Bitunix, and Acre BTC to discuss Bitcoin’s potential benefits for Nvidia and explore whether such an investment would ultimately benefit the company in the long run.
Rumors of Nvidia’s Potential Bitcoin Investment
Over the past few weeks, several reports have surfaced across social media suggesting that Nvidia, a pioneer in GPU-accelerated computing, is considering adding Bitcoin to its balance sheet.
These reports remain purely speculative at the time of press, given that Nvidia has not made any official statements on the topic. When BeInCrypto reached out for clarification, an Nvidia spokesperson declined to comment.
Even as rumors, these reports highlight the significant impact of such a decision on Bitcoin’s public perception. Given Nvidia’s current economic circumstances, marked by a substantial drop in stock value, an announcement of this nature would not be completely unexpected.
As such, Nvidia’s stock price has taken a hit. According to recent reports, Nvidia stock has fallen 35% since its latest price peak in January.
Nvidia’s stock reacted especially poorly to the news that China’s Huawei Technologies is testing a new AI chip potentially more powerful than Nvidia’s H100.
Given these circumstances, Nvidia can mitigate current economic challenges by diversifying its treasury assets.
Should Nvidia Consider Adding Bitcoin to Its Balance Sheet?
Such a move would significantly alter how other institutional investors view Bitcoin, potentially encouraging more companies to adopt a similar strategy. The crypto community would likely celebrate the news, believing it would solidify Bitcoin’s legitimacy as an asset class.
However, the extent to which Nvidia requires Bitcoin for stability remains controversial.
Risks of Adding Bitcoin to Nvidia’s Treasury
As it is, Nvidia already has other strategies that help the company hedge against volatility and inflation. Adding Bitcoin into the mix may seem excessive.
This becomes especially true when considering just how volatile Bitcoin itself can be. Though the asset can generate significant gains during bullish periods, the losses it can cause are equally severe.
As such, Bitcoin might not be the natural choice to defend Nvidia from its current stock declines. An investment of this kind would need to reflect a long-term strategy rather than an impulse decision.
Would BTC Even Make a Difference on Nvidia’s Share Price?
Bitcoin has demonstrated high returns over the long term, though with considerable volatility. For companies able to withstand the associated risks, including large price fluctuations, it offers the potential for significant future profits.
With its substantial financial resources, Nvidia could absorb Bitcoin’s volatility without a major impact on its balance sheet. In this sense, the company has little to lose, but also little to gain.
Ultimately, Nvidia’s decision to invest in Bitcoin hinges on timing and urgency, particularly given recent developments that have alleviated some pressures on the company.
Easing Export Restrictions: A Boost for Nvidia
Last week, the Trump administration announced its plans to roll back certain Biden-era export restrictions on advanced semiconductor chips.
Biden’s ‘AI Diffusion Rule’ established these restrictions to enhance US technological leadership by preventing advanced chips from being diverted to countries of concern, especially China. Given that China was Nvidia’s main buyer, the rule significantly hampered its sales.
A rollback would be highly advantageous for Nvidia’s sales, especially amid this new wave of chipmakers.
Similarly, the recent US-China tariff pause led to Nvidia’s stock price rise. Despite its temporary nature, the news is a positive sign for the company, promising reduced uncertainty and potential gains in sales and supply chain stability.
Considering these developments, adding Bitcoin to Nvidia’s balance sheet may no longer be urgent. If Nvidia were to make such a decision out of haste, it might also drive away traditional investors and long-time buyers.
Many areas of traditional finance remain highly skeptical of Bitcoin due to its short history and highly volatile nature. If Nvidia adds Bitcoin as a treasury asset, traditional investors might view it as a poor decision, potentially alienating long-time clients.
A notorious phishing group known as Inferno Drainer has begun exploiting a new Ethereum feature to launch wallet-draining attacks
The group is taking advantage of Ethereum Improvement Proposal (EIP) 7702, a key part of the Pectra upgrade, which allows Externally Owned Accounts (EOAs) to temporarily act like smart contract wallets during transactions.
On May 24, Scam Sniffer, a web3 anti-scam platform, flagged a case where a wallet recently upgraded to EIP-7702 lost nearly $150,000.
According to Yu Xian, founder of blockchain security firm SlowMist, Inferno Drainer carried out the theft using a more sophisticated version of traditional phishing.
Unlike previous scams that hijack user wallets directly, Xian explained that Inferno Drainer used a delegated MetaMask wallet—one already authorized under EIP-7702.
He said this allowed the hackers to approve token transfers silently through a batch authorization process.
Xian furthered that the victim unknowingly triggered an “execute” command within MetaMask, which processed the malicious batch data in the background. The result was a silent but effective token drain.
“The phishing gang uses this mechanism to complete batch authorization operations on tokens related to the victim’s address,” Xian said.
According to him, it shows that attackers are no longer relying solely on old tricks as they’re actively integrating new Ethereum updates into their operations to stay ahead.
“As we predicted, the phishing gangs have caught up… Everyone should be vigilant, be careful that the assets in your wallet will be taken away,” Xian said.
Considering this, he urged users to review token authorizations regularly and check whether their wallet addresses have been delegated to phishing accounts via EIP-7702.
Due to this, security experts have emphasized that crypto users must remain proactive to stay safe from these attack vectors.
Scam Sniffer advised industry players to verify websites before logging in or approving any transactions. They also urge community members to audit their token permissions routinely and avoid clicking on unverified links.
