BUSINESS

Drake’s latest track, “What Did I Miss,” features lyrics about betrayal, luxury, and bitcoin. The rapper compares fickle friends to the cryptocurrency’s rollercoaster price moves, saying he looked at it “like a BTC”: “Could be down this week, then I’m up next week.”

It’s not the first time bitcoin has appeared in Drake’s orbit. In the past few years, the Canadian superstar has become one of crypto’s most visible celebrity community members.

The rapper shared a clip of Michael Saylor on his Instagram account, which at the time had over 146 million followers, where Strategy’s co-founder said bitcoin would “eat” gold.

He’s also dropped more than $1 million worth of bitcoin on losing bets for the Dallas Mavericks and Edmonton Oilers, with other high-profile punts on UFC fights and Formula One races.

Drake’s betting performance has inspired memes calling it the “Drake Curse,” referencing losses in the teams and athletes he bets on. The rapper addressed that curse, telling fans he’s just a “flawed sports bettor.”

Yet Drake isn’t just rolling dice. He has partnered with crypto gambling platform Stake, in a partnership that’s reported to be worth $100 million annually.

Outside the casino lights, Drake has made crypto investments in firms, including MoonPay and brandished hardware wallets on social media.

Interestingly, Drake’s nod to bitcoin’s volatility comes at a time that’s being interpreted as the calm before the storm. Deribit’s bitcoin volatility index (DVOL) has, in fact, dropped to a near two-year low at 38.

FLOKI FLOKI traded near $0.00007417 on July 5, up 1.32% over the past 24 hours, according to CoinDesk Research’s technical analysis model. As for the broader memecoin sector as gauged by the CoinDesk Memecoin Index(CDMEME), it is up 1.79% during the same period.

Although FLOKI is often categorized as a meme coin, its ecosystem has long featured gaming-related functionality, including NFT-based characters, play-to-earn mechanics, and token integration for in-game rewards. But the launch of the Valhalla mainnet marks its most ambitious gaming milestone to date.

On June 30, 2025, FLOKI officially launched Valhalla, a blockchain-based game inspired by Norse mythology. The game runs on opBNB, a Layer-2 network designed to enable fast and inexpensive transactions. Players take control of Veras — customizable NFT characters — in a browser-based, turn-based tactical MMORPG that blends combat, exploration, and questing with blockchain-backed rewards. The play-to-earn economy is built around FLOKI tokens, which players earn by completing in-game tasks and winning battles.

To support the game’s rollout, the FLOKI team has committed millions of dollars from its treasury to fund development, marketing campaigns, and in-game incentives. That long-term investment signals the project’s intention to build a sustainable blockchain gaming ecosystem rather than a short-term promotional play.

And on June 27, FLOKI announced a partnership with Method, a well-known esports organization recognized for its World of Warcraft dominance. Method will serve as a strategic content partner, producing onboarding materials, game guides, and live coverage to help Valhalla appeal to both traditional gamers and crypto-native audiences. The partnership will include branded jerseys and appearances in gaming tournaments throughout 2025 and 2026, designed to grow Valhalla’s player base and community awareness.

These developments represent a pivotal moment in FLOKI’s evolution, as the project attempts to move beyond its meme origins and establish itself at the intersection of Web3 technology, entertainment, and digital asset ownership.

Technical Analysis Highlights

• FLOKI rose 4.7% from $0.0000749 to $0.0000741 during the 24-hour window from July 4 15:00 to July 5 14:00.
• Peak price of $0.0000762 was recorded at 06:00 on July 5.
• A breakout at 06:00 was accompanied by the session’s highest volume spike of 44.98 billion tokens.
• Support formed near $0.0000737; resistance was established around $0.0000762.
• Last-hour trading (13:06 to 14:05) saw a V-shaped recovery from $0.0000740 to $0.0000741.
• A 3.08 billion token volume spike at 13:41 confirmed support around $0.0000742.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Dogwifhat (WIF) continues to draw attention amid volatile market conditions, with the token consolidating around $0.8319 after dipping 1.17% over the past 24 hours, according to CoinDesk Research’s technical analysis model. As for the greater memecoin section as gauged by the CoinDesk Memecoin Index(CDMEME), it is up 1.79% during the same period.

Price action formed a 5.1% range from $0.821 to $0.864, with critical support confirmed near $0.835 on significant volume. A sharp rally earlier this week to $0.92 drew profit-taking, but technical strength remains as WIF holds above its new local floor.

Blockchain analytics show whale wallets have accumulated more than 39 million tokens, a pattern that aligns with broader memecoin rotation underway across Solana-based assets. This trend comes as BONK surged earlier on ETF speculation, while WIF retests key zones with declining volume and fewer short liquidations.

The passage of President Trump’s “One Big Beautiful Bill” by Congress earlier this week brought short-term calm to risk markets. Combined with better-than-expected U.S. jobs data, sentiment around risk assets improved marginally, reducing macro-related selling pressure. Even as broader crypto faces headwinds from shifting trade and monetary policy dynamics, WIF’s on-chain fundamentals remain constructive.

With derivatives markets booming — Binance has now facilitated $650 trillion in cumulative BTC futures volume — attention is turning to retail-driven tokens that continue to show resilience. If WIF maintains support and volume rebounds, a retest of $0.86 may be in play.

Technical Analysis Highlights

• WIF traded between $0.821 and $0.864 over the 24-hour window ending July 5 at 14:00 UTC.
• High-volume bounce from $0.835 to $0.861 confirmed strong support level.
• Whale accumulation spiked during a 60.7M token volume surge over a 9-hour session.
• In the final hour (13:06–14:05 UTC), WIF rebounded from $0.828 to $0.831.
• Resistance formed at $0.838 with heavy sell pressure at 13:25–13:26.
• Temporary support held at $0.828 after sharp sell-off between 13:54–13:56.
• Modest late-session recovery hints at short-term consolidation range.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.