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Daily #Web3 Market

11 Jun 2024:

Trump promises to become the ‘crypto president’ — Law Decoded

The former United States president is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign. Read more

19-trading day Bitcoin ETF inflow streak ends with $64.9 million outflow

Data shows that on June 10, Bitcoin (BTC) exchange-traded funds (ETFs) saw a $64.9 million outflow, marking the first outflow since May 10 and halting a streak of 19 consecutive trading-day inflows. Four ETF issuers drove the outflows, with Grayscale’s GBTC leading at $39.5 million. Read more

World’s largest bank ICBC praises the evolution of Bitcoin, Ethereum as innovative financial assets

Industrial and Commercial Bank of China (ICBC) published an analysis highlighting the rapid evolution and growing diversity in digital currencies. The report compares Bitcoin to gold and deems Ethereum "digital oil," emphasizing the imaginative belief in these assets. Read more

Market dynamics show complex interplay between long-term stability and short-term speculation

Bitcoin’s realized cap has moved significantly throughout 2024, reflecting market conditions and investor behavior. The analysis highlights the balance between long-term stability and short-term speculation in the crypto market. Read more

Meme Sector Sees Sharp Sell-off as GameStop Losses Extend to 60%

A Solana meme parody of GameStop was down 25% in the past 24 hours, with steep losses across other meme tokens that tend to move in tandem with GameStop. Read more

ZKsync’s ZK Airdrop Is Coming ‘Next Week,’ Here's What to Expect

According to the plan, 17.5% of ZK's 21 billion total token supply will be airdropped to users beginning "next week." Read more

Bitcoin Slips Below $68K as ETFs Bleed $64M, Asian Stocks Decline

The U.S.-listed spot BTC ETFs registered a cumulative outflow of over $64 million on Monday. Read more

Optimism Finally Gets Its Mission-Critical 'Fault Proofs'

Optimism has implemented fault proofs on its mainnet, allowing users to independently initiate withdrawals without involvement from trusted third parties. Read more

Stablecoin Issuers Want to Give Something Back in Multi-Trillion-Dollar Market Race

Amid a new generation of yield-bearing stablecoins, PayPal is confident in its purely payments-focused PYUSD. Read more

Fidelity International Tokenizes Money Market Fund on JPMorgan’s Blockchain

The U.K. firm joined JPMorgan’s Tokenized Collateral Network (TCN), piloting the tokenization of its money market fund for the first time with Onyx Digital Assets. Read more

Bitcoin ETFs, Bankruptcy Paybacks Have Given Crypto Lending a Second Wind

Crypto lending firm Ledn survived the crypto winter by being "boring, slow and safe," according to a co-founder. Read more

Bitcoin Bags $2B Inflows, Ether Sees Highest Institutional Buying Since March

One trader expects ETH prices to hit $10,000 in 2024, a nearly 200% increase from current levels of $3,600. Read more

BTC price risks $60K dive as Bitcoin bid liquidity thins on new 3% dip

Bitcoin is making analysts nervous as $69,000 support fails to hold yet again, but a BTC price turnaround is still on the radar. Read more

Ethereum’s next upgrade: Prague-Electra (Pectra), explained

Ethereum is gearing up for its next major upgrade in the first quarter of 2025, codenamed “Pectra,” which will combine the Prague and Electra upgrades. Read more

Bitcoin dips as ETFs break 19-day green streak, rumble over US inflation

Traders are seemingly going risk-off ahead of a U.S. CPI print and a Fed monetary policy meeting, with Bitcoin falling to a weekly low. Read more

Metaplanet rallies 10% as it scoops Bitcoin for 3rd time in 2 months

The firm’s third Bitcoin purchase since April 23 brings its total holdings to 141.07, worth over $9.6 million. Read more

DeFi Technologies adopts Bitcoin treasury strategy

The publicly listed Canadian company announced the purchase of 110 BTC and repayment of $5 million in debt by its subsidiary, Valour. Read more

Optimism reaches ‘Stage 1’ decentralization, implementing fault proofs

The team has implemented fault proofs on Optimism mainnet, and users can now independently initiate withdrawals without involvement from any trusted third parties. Read more

Bitcoin’s short-term holder realized price hits $64,000, confirming BTC rally

This group mainly consisted of those who purchased BTC before and after the approval of the U.S. spot Bitcoin ETF in January. Read more

Is $4,000 Ethereum a distant dream? Futures premium plunge to 3-week low

One trader expects ETH prices to hit $10,000 in 2024, a nearly 200% increase from current levels of $3,600. Read more

Why is BNB price down today?

Several factors, including market dynamics and regulatory challenges, are contributing to the decline in BNB price. Read more

Price analysis 6/10: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

An in-depth analysis of the current price trends and market movements for major cryptocurrencies and indices. Read more

Bitcoin vs. Buffett: BTC holders’ 104% CAGR dwarfs ‘steady growth’ portfolio

Bitcoin holders have seen a compound annual growth rate of 104%, significantly outperforming traditional investment portfolios. Read more

Cardano’s Voltaire era nears with June hard fork milestone

The upcoming June hard fork marks the beginning of Cardano's Voltaire era, aimed at enhancing governance and decentralization. Read more

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