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- 🔑 Key crypto market highlights (June 5 — 12)
🔑 Key crypto market highlights (June 5 — 12)
Also, the long-awaited Neon Labs (NEON) token sale; what will happen to the Bitcoin price; Binance and Google Lighting Network launch, and more.
buidlbee make it with crypto
June 05, 2023
Hello, all you crypto fans! It’s the buidlbee team here, and as we promised, today we brought you a huge bag of interesting stuff. We hope you had a good weekend's rest and are ready to brainstorm. So, today's letter composition is:
What will be the price of Bitcoin this week?
Binance and Google launch the Lighting Network;
Hacks and new crypto losses again;
List of important cryptocurrency events for June 5 — 12;
New tokens and unlocking tokens;
Token launches;
Airdrops and freebies.
The main focus for the weekend and Monday is:
The crypto wallet service Atomic Wallet was hacked, and about $35 million was stolen from a number of users. The vulnerability has yet to be discovered.
Yesterday, U.S. President Joe Biden signed a two-party deal and raised the U.S. national debt limit. Usually, this is negative for the dollar and positive for cryptocurrency.
The Metropolitan Museum has agreed to return more than half a million dollars in donations from the bankrupt FTX exchange.
VanEck, a $69 billion ETF manager, believes the price of ETH will reach $11,800 in 2030, and the token will become a competitor to U.S. Treasury bonds.
Bloomberg: Due to problems with regulators, Binance CZ may leave the position, and the successor may be Richard Teng (who was appointed head of all regional markets of the exchange outside the United States in late May). The SEC sued Binance and its CEO for violating U.S. securities regulations. In the lawsuit filed BNB and BUSD called the securities.
Following the decline in meme coins' popularity and MEV bot activity, Ethereum's average daily gas fell to its lowest point in two months. As of June 3, it was 24gwei.
☑ The U.S. debt epic is over
U.S. President Joe Biden on Saturday signed a law to raise the national debt ceiling. Nevertheless, macroeconomic negativity persists; the market predicts further interest rate hikes as well as the possible continuation of U.S. bank failures after that.
🐹 What will the price of Bitcoin be this week?
As an oracle, we use analytics on the actions of the well-known trader SmartMoney. Today he transferred 825 BTC ($22.2 million) to his Crypto.com account. From January 18, 2021, until now, SmartMoney has always bought BTC at low prices and sold it at high prices, without a single exception. He currently owns 2404.6 BTC ($64.57 million) with a profit of about $33 million.
It turns out that SmartMoney is betting on Bitcoin falling this time.
🕵️♀️ Is the giant waking up?
Last week, we told you that China released a whitepaper on the development of Web3 in the country. This event greatly excited the crypto community with the hope of easing crypto regulation in this important country for the crypto industry.
And today, China unveiled a single national standard for blockchain development.
It looks like China is cautiously getting back into the crypto game, gradually creating new regulations and rules for the sector.
⚡ Lighting Network is coming
The Lighting Network is a crucial technology to radically accelerate Bitcoin, representing the L2-network for BTC. That is why any news on this technology's implementation is very important for mass adoption, especially if it comes from such giants as Binance and Google:
Binance's CEO confirmed that Lighting Network will soon be implemented on the exchange; in his opinion, following Binance, every exchange should also add support for Lighting Network.
Google Cloud will partner with Voltage to allow anyone to create Bitcoin Lightning nodes anywhere in the world. According to the joint statement of the companies, the partnership will allow creating Bitcoin Lightning nodes literally in one click. This approach radically simplifies the deployment of its own payment gateway in BTC for retail.
🐱💻Serial hacks again
Last week, due to the inability to contact the CEO of the project to gain access rights to the server, the withdrawal in Multichain, one of the largest crosschains, was suspended. Many exchanges and networks also stopped operations with this crosschain, with $1.5 billion of user funds blocked at the moment.
We draw your attention to the absurdity of what is happening: Multichain calls itself a decentralized network, while the absence of a CEO on the job has paralyzed crosschain operations.
This weekend, the popular Atomic Wallet was hacked; at least $14 million was stolen, and total losses could exceed $30 million. Hackers broke into this centralized crypto-asset storage service. The only consolation is that a minority of users of this wallet were affected (however, the lost reputation is unlikely to make other users linger as well). Both the native $AWC coin and the $ATOM (altcoin from the Cosmos project, which was probably confused with the coin of the attacked wallet because of the name), collapsed.
Note that, as with FTX, centralization forms an overall fragility and vulnerability for any crypto project. Moreover, many who call themselves decentralized projects are not really decentralized, using the popular word simply as marketing. Pay attention to this clear sign of a scam if you want this wave of hacks not to end with you.
⚓ Major crypto events (June 5 — 12)
June 5
The PMIs for the Chinese and U.S. service sectors will be released.
Galaxy Blitz (MIT) game update.
Hooked Protocol (HOOK) staking program starts.
Syscoin’s (SYS) Pali Wallet v.2.0 upgrade.
Uniswap (UNI) — Sommelier real yield launch.
GuildFi (GF) Ace Gunner tournament.
June 6
The U.S. Agriculture Committee will hold a hearing on the future of digital assets (industry regulation).
EnterButton's (ENTC) NFT auction.
GemLink (GLINK) hard fork.
BankerCoinAda (BANK) will be listed on Bitrue.
$LOVESNOOPY will be listed on Poloniex.
JunBullBear AI (AIBB) listing on Bitget.
Optimism (OP) Bedrock mainnet upgrade.
June 7
The U.S. will disclose its trade balance. Experts expect - $63.30 billion.
FingerprintsDAO (PRINTS) Machine NFT collection launch in collaboration with Mercedes-Benz NXT.
June 8
June 9
China will publish the Consumer Price Index (CPI) for inflation. It is expected to fall.
🔓 Tokens unlock
June 5
Tornado Cash (TORN) — 175,000 coins, or 1.75% of the total supply.
June 9
Hop Protocol (HOP) — 20M coins, or 2% of thetotal supply.
🏁 Tokens launchpads
June 7
Metatime (MTC). MetaChain is a blockchain network that focuses on scalability, speed, security, and decentralization. The public sale will take place via Kommunitas. MTC =$0.100.
June 8
Neon Labs (NEON). Neon is a fully Ethereum-compatible environment with the scalability and liquidity of Solana. It's a long-awaited project whose release has been awaited since 2022 and a long-awaited token sale that's expected to have multiple X's. The sale starts on Coinlist. NEON = $0.10 per token.
HyperGPT (HGPT). The HyperGPT platform is designed to create a marketplace where AI applications can be exchanged in a secure and transparent way using blockchain technology. The sale will be held via BullStarter, GameFi, Poolz Finance, Enjinstarter. HGPT = $0.008.
June 10
Legends (WAR). War Legends is a multiplayer online military-themed combat arena (MOBA). The sale starts on the Spores Network. And BinStarter (registration is open until June, 13). WAR = $0.037.
June 12
PolyGame (PGEM). PolyGame is a decentralized esports ecosystem that brings together streamers, players, teams, and tournament operators. The public sale will take place via Kommunitas. PGEM = $0.075.
🆓 Crypto and NFT freebies
June 5
June 6
SuperRare (SUPR) June airdrop.
June 10
Liberty Finance's (LIBX) airdrop for Gather (GTH) holders, based on snapshots.
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