ZKsynk Token Goes Live!
Will MicroStrategy Buy More BTC?
Weekly Stats
Bitcoin: $62,861.26 (-5.85%)
Bitcoin Market Dominance:54.1%
Global Crypto Market Cap: $2.29T
Ethereum: $3,376.27 (-5.16%)
Ethereum Market Dominance: 17.8%
Total Value Locked: $103.336B
NFT Sales Volume: $98,937,660 (-2.73%)
Crypto Fear and Greed Index: 51
Coins of the Week
Top Loser — Dogwifhat
The top loser of this week is Dogwifhat, with a decrease of more than 37% in the last seven days. The price decline has seemingly caused futures traders to hold back from betting on Dogwifhat’s near-term direction. Open Interest (OI) — the total value of all outstanding or unsettled Bitcoin futures contracts across exchanges — has dropped 25% to $209.64 million over the same period
Top 3 News
ZKsync Token Goes Live — Link
The ZKsync token went live on Monday and has been listed with various trading pairs on multiple crypto exchanges. Its market capitalization is currently over $935 million, with a fully diluted value of around $5.3 billion.
MicroStrategy Buys Additional 11,931 Bitcoin — Link
Business intelligence firm and corporate Bitcoin holder MicroStrategy acquired an additional 11,931 Bitcoin for approximately $786 million at an average price of $65,883 per Bitcoin between April 27 and June 19.
BNB Chain Activates Hard Fork — Link
BNB Chain activated its Haber hard fork which introduces BEP-336 to optimize data storage and processing on the network. On June 20, the blockchain network announced that it successfully activated the hard fork, claiming a 90% reduction in blockchain fees.
Top Bitcoin News
CleanSpark Buys Bitcoin Mining Facilities — Link
CleanSpark has purchased five Bitcoin mining facilities, with the combined operating hashrate anticipated to exceed 3.7 EH/s. In May, the first full month of operations following April’s halving event, CleanSpark mined 417 Bitcoin and held a total of 6,154 Bitcoin as of May 31.
Bitcoin Dominance Surges Past 50% Again — Link
Bitcoin’s market dominance, the market share of Bitcoin’s market capitalization relative to the total market capitalization across crypto tokens, shot up to 52.92% over the weekend, climbing up from below 50% at the end of May.
Bitcoin NFTs Surpass Ronin in All-Time Sales — Link
The Bitcoin network has moved up a spot in the all-time NFT sales rankings, surpassing the Ronin blockchain, which previously held the third-highest record for all-time NFT sales.
Bitcoin Miner Reserves Drop to Lowest in 14 Years — Link
The amount of Bitcoin held by miners has dropped to its lowest total in more than 14 years. On June 19, miner reserves fell to 1.90 million Bitcoin after starting the year with 1.95 million BTC.
Top Layer 1 News
TON Blockchain’s TVL Surges Above $600M — Link
The Open Network soared to $609.78 million in total value locked on Monday. This comes just three weeks after the network’s TVL recorded $300 million. Many of the top 10 protocols on TON, as detailed by DefiLlama, made significant growth in TVL over the past seven days.
Ronin to Scale Web3 Games with New zkEVM — Link
Gaming blockchain Ronin has announced the upcoming launch of Ronin zkEVM, a zero-knowledge Ethereum Virtual Machine layer-2 chain built with a Sky Mavis-modified version of the Polygon Chain Development Kit.
Top DeFi News
RISC Zero Rolls Out Production-Ready zkVM — Link
RISC Zero has officially launched zkVM 1.0, a new general-purpose zero-knowledge virtual machine (zkVM) touted as production-ready. The platform distinguishes itself by utilizing zero-knowledge proofs to facilitate the development of dapps across various blockchains.
EigenLayer Opens Second Phase of Season 1 Airdrop — Link
The Eigen Foundation opened claims for the second phase of its first season stake drop — letting users of liquid restaking protocols integrated with EigenLayer claim their tokens. As such, users of liquid restaking protocols or LRTs can claim their tokens.
Osmosis Voting to Adopt Fee-Free Bitcoin Bridge — Link
Osmosis DAO, the community governing the Cosmos-based decentralized exchange and appchain Osmosis, is set to vote in favor of adopting a “fee-free” Bitcoin bridge via the decentralized bridging protocol Nomic.
Aave DAO Signals Support for Deploying on ZKsync — Link
The community of lending protocol Aave has voted unanimously on an early proposal to deploy the lending protocol on the Ethereum Layer 2 network ZKsync, in collaboration with service providers BGDLabs and Catapulta.
dYdX Gets Big Upgrade — Link
After a community vote earlier this month, version 5.0.0 of the dYdX protocol is live, introducing several new features, including isolated margin, isolated markets, and support for Raydium Markets.
EigenLayer Enhances EigenDA Security — Link
EigenLayer has implemented an additional security feature for its EigenDA data availability service on the Ethereum mainnet to prevent Sybil and distributed denial of service attacks.
Top Exchanges News
Coinbase Starts Offering Pre-Launch Markets Trading — Link
The exchange’s international division has added a pre-launch markets feature that allows some users to trade perpetual futures contracts on tokens that are not on spot exchanges. This lets traders speculate on the future value of upcoming tokens before they go live.
Bitget to Use USDe as Collateral for Perpetual Futures — Link
Ethena’s USDe can now be used as a collateral asset to trade perpetual futures on the Bitget derivatives exchange. This move will enable the exchange’s users to potentially earn a yield on their collateral, which will be distributed by Bitget.
BitFlyer Targets FTX Japan for Acquisition — Link
FTX Japan could soon come under Japanese crypto exchange BitFlyer’s ownership, according to reports by Japan’s public broadcasting service. BitFlyer is expected to pay several billion yen to purchase all of FTX Japan’s shares, effectively granting it control of the company.
Bitcoin Exchange Reserve Metric Hits 3-Year Low — Link
The Bitcoin exchange reserve, the total amount of Bitcoin available on exchanges, has dropped to a 3-year low. There are currently 2,825,703 Bitcoin left on exchanges. During January 2024, the Bitcoin exchange balance hovered at around 3,039,000.
Binance Integrates USDT on TON — Link
The integration allows Binance users more flexibility in moving stablecoin liquidity onto the TON blockchain. The move is expected to improve transaction speeds, reduce fees and offer a cost-effective method for handling USDT transactions.
Top Crypto Adoption News
Australia’s Largest Stock Exchange Lists Bitcoin ETF — Link
The Australian Securities Exchange listed the VanEck Bitcoin ETF on Thursday, making it the platform’s first spot Bitcoin ETF. The VanEck Bitcoin ETF, which trades under the VBTC ticker symbol, had total net assets of around 982,850 AUD as of Wednesday.
Standard Chartered to Launch Crypto Trading Desk — Link
Standard Chartered is close to starting operations on its own spot crypto trading desk for Bitcoin and Ether. The British multinational bank plans to enter the spot crypto trading market as part of its FX unit. This crypto trading desk will be run from London.
Top NFT, Gaming, and Web3 News
DRiP Haus Targets July for Mobile App Release — Link
The mobile app is important for the platform because it will come with a natively embedded wallet, which is automatically created for the user — massively easing the onboarding process.
HashKey to List Platform Token in Q3 — Link
HashKey Group, an Asia-based cryptocurrency financial services firm, is officially listing its platform token, HSK, in the third quarter of this year, with a community airdrop expected later this month.
Konami Chooses Avalanche for Resella NFT — Link
Konami Digital Entertainment, the digital arm of Japanese entertainment and gaming giant Konami Group, announced that its non-fungible token platform, Resella, will use the Avalanche blockchain to enhance efficiency and offer lower costs for users.
Azuki Eyes Post-NFT World — Link
Top-tier NFT brand Azuki announced on Thursday that it has hired veteran entertainment executive Steve Chung as Chief Operating Officer as the company seeks to expand beyond digital collectibles.
Top Partnerships News
XLink Onboards Fireblocks — Link
Alex Lab’s XLink, a Bitcoin bridge, has partnered with Fireblocks and Ancilia in response to a recent security breach involving $10 million in user funds. The collaboration with Fireblocks will introduce multiparty computation technology to XLink’s wallet and smart contract management.
Aptos Labs Partners with NBCUniversal — Link
Aptos Labs and NBCUniversal have entered into a long-term development agreement to provide the entertainment company with Web3 fan experiences, customer loyalty programs and gaming. Aptos already has a track record developing fan experiences for major Universal films.
Top Hacks and Scams
Kraken Discloses It Was Exploited — Link
Kraken disclosed nearly $3 million was taken from its wallets following a bug-related exploit that’s since been fixed. Later it was discovered that CertiK was involved in the exploit. The company returned the funds.
CoinStats Warns Users to Move Funds from Wallets — Link
CoinStats, a popular app that helps users create a wallet and track their crypto portfolios across different chains, has warned users who used the app to create a wallet to migrate their funds following a “security incident” affecting the platform.
BtcTurk Hacked for $55M — Link
The Turkish cryptocurrency exchange BtcTurk said on Saturday that a cyberattack affected the funds held in ten of its hot wallets, though the exchange claimed the vast majority of its crypto, which is stored in cold wallets, remains secure.
Remilia Hacker Moves $4.3M to Tornado Cash — Link
The hacker responsible for the $4.3 million Remilia exploit in March has siphoned the stolen crypto assets through the crypto mixer Tornado Cash. On June 17, blockchain analysis company CertiK reported that 1,209.5 Ether worth about $4.3 million was deposited into Tornado Cash.
Top Legal and Regulation News
Binance Ordered to Pay $2.25M Fine — Link
India’s financial watchdog has ordered Binance to pay $2.25M in penalties. The Financial Intelligence Unit fined Binance for violating the rules under the country’s Prevention of Money Laundering Act.
Consensys Still Plans to Pursue Lawsuit Against the SEC — Link
Consensys Founder Joseph Lubin said the company will continue its litigation against the SEC. Consensys announced that the SEC said it is closing the investigation in Ethereum 2.0.
Trump Receives $2M Worth of BTC From Winklevoss Twins — Link
The Winklevoss twins announced they each donated $1 million worth of Bitcoin to former President Donald Trump, the presumptive Republican nominee in the upcoming election.
SEC Shoots Down Ripple’s Argument for a Lower Penalty — Link
On June 13, Ripple cited the SEC’s settlement with Terraform Labs when it again asked Judge Analisa Torres of the United States District Court for the Southern District of New York for a penalty of “no more than $10M” — far lower than the regulator’s proposed $876.3M civil penalty.
Top Stablecoin News
Tether Launches Token Supported by Gold — Link
Tether announced it is unveiling a new category of crypto called tethered assets. It’s kicking off the launch of the line of digital assets by introducing a new token supported by real physical gold stored in Switzerland.
Transak Adds Fiat-to-Crypto Onramp for PayPal USD — Link
The Web3 payment infrastructure provider announced Tuesday that PYUSD can now be bought on its platform with fiat, using the SEPA transfer system or mobile payment apps such as Google and Apple Pay.
FDUSD Trading Dominance Persists — Link
FDUSD’s dominance has been waning since the end of the zero-fee promotion, but it remains quite prominent, on pace to make up 33.55% of spot trading in June.
Top Memecoin News
TON Memecoins Rally — Link
Despite a broader cryptocurrency market pullback, TON ecosystem memecoins like Resistance Dog, The Resistance Cat and Ton Inu have surged. The top memecoins by market cap have increased by 35.2% in the past day to now stand at $172 million.
Dogecoin Posts Double-Digit Drop — Link
Dogecoin’s long liquidations have spiked to more than $60 million, as the memecoin fell below the $0.12 mark. These liquidations were more significant than is usual for the memecoin’s trading activity in the futures market.
Dogwifhat Falls Out of Top 50 — Link
Solana memecoin Dogwifhat has dropped out of the top 50 cryptocurrencies by market capitalization, experiencing a 38% decline in price over the past week. On June 23, Dogwifhat’s market cap fell down 9% to $1.60 billion in a 12-hour period, which led to Fantom overtaking its position in the top 50 cryptocurrencies by market cap, rising 2.24% at $1.65 billion.
Top FUD News
HectorDAO Files for Chapter 15 Bankruptcy in the US — Link
HectorDAO, a decentralized autonomous organization, has filed for Chapter 15 bankruptcy in the United States following a series of market collapses and hacks that drained the community of funds.
Top Fundings
Verida Raises $5M — Link
Verida has raised $5 million to address the growing concerns over user data privacy in the age of Big Tech AI. The capital will fund the development of alternative data storage solutions geared toward internet users who want to prevent their data from being used to train AI.
Wasabi Raises $3M — Link
Wasabi, a memecoin and NFT leverage trading protocol, has raised $3 million in a seed funding round led by Electric Capital. With fresh funding in place, Wasabi plans to expand its current team of six people to 10 in the near future.
Renzo Raises $17M — Link
The Ethereum restaking protocol Renzo raised $17 million from a Galaxy Ventures-led funding round and another led by Brevan Howard Digital Nova Fund. Renzo has amassed nearly $3.6 billion in total value locked and a market capitalization of $111.85 million.
Sonic Raises Funds at $100M Valuation — Link
Sonic, a Solana Layer 2 network focused on gaming, has raised $12 million in a Series A funding round. Bitkraft Ventures led the round, with Galaxy Interactive, Big Brain Holdings and others participating.
Bondex Raised Over $10M — Link
The company said that the capital comes from over $4 million in funding led by Animoca Brands, Morningstar, Dext Force Ventures, iAngels, and more, in addition to over $6.5 million from a community sale on CoinList in March 2024.
Pantera Capital Raises Funds for Second TON Investment — Link
Crypto venture capital firm Pantera is raising money for a new fund to invest specifically in The Open Network’s Toncoin, doubling down on its prior bet on the token. Dubbed the “Pantera TON Investment Opportunity,” the fund aims to raise capital to buy more TON tokens.
Mirror World Raises $12M — Link
Solana gaming studio Mirror World Labs has raised $12 million in its inaugural Series A funding led by Bitkraft, Galaxy Interactive, Big Brain Holdings, and others to further the development of its gaming rollup, Sonic.
Next Week’s Events
Twitter Space with Hedera — Link
Join our 𝕏 Space with Hedera, an open source, leaderless proof-of-stake blockchain. We’ll talk about decentralized finance, real-world assets, and much more.
Blast to Roll Out Its Token Airdrop This Week — Link
Blast is officially launching its token airdrop in a week. The project announced that users must take certain actions to be eligible for the airdrop and that dapps must distribute reward incentives like Gold and Points to users by 8 a.m., June 25 ET.
United States GDP Growth Rate — Link
The US economy expanded an annualized 1.3% in Q1 2024, below 1.6% in the advance estimate and 3.4% in Q4, mainly due to a downward revision in consumer spending.
United States Core PCE — Link
The US core PCE price index, the Federal Reserve’s preferred gauge to measure inflation, rose by 0.2% from the previous month in April of 2024 after a 0.3% increase in March.
Germany Inflation Rate — Link
Germany’s consumer price inflation was confirmed at 2.4% in May 2024, compared to a three-year low of 2.2% in each of the previous two months.
