The memecoin market is ablaze once again after recent market downturns dealt a severe blow to Bitcoin ($BTC) and altcoins in particular. The past week saw $WIF, $BONK, $BRETT, and $MOG gain back significant ground. 

The market at large recently underwent an uncomfortable downturn, which saw $BTC briefly dip to $58,500. Negative sentiment and macroeconomic concerns caused panic among investors, heavily affecting prices. 

Memecoins Regain Strength

The crypto market recently underwent a significant downturn, which caused panic among investors and massive market sell-offs. On Monday, it appeared the considerable spread of contagion had settled mainly. All is, however, not recovered as the current session sees $BTC trade $62,784. Despite Bitcoin’s lacklustre performance, memecoins have regained considerable strength over the past seven days. 

Dogwifhat ($WIF) Sell-Off Slows

Dogwifhat ($WIF) suffered severely in the wake of the market decline. While it is not near its recent high of $4, $WIF managed to gain 36.25% in the seven-day chart, according to data from CoinMarketCap. $WIF currently trades at $2.22, up 10.22% over the past 24 hours, signalling that sell-offs have halted – at least for now.   

Solana-Based $BONK Stands Its Ground

Solana-based memecoins have been performing exceptionally well in the 2024 bull run, delivering investors significant returns on their investments. Bonk ($BONK) is a market newcomer only launching in 2023. Since its launch, $BONK captured the attention of the entire crypto industry with its active community participation. Bonk’s popularity also increased because its capped token supply introduced scarcity to the memecoin industry.

At the time of writing, $BONK was up an impressive 21.71% over the 7-day chart, gaining 7.66% in the past day. 

Base-Network $BRETT Showing Upside Potential

Base memecoins are threatening Solana-based memecoin’s dominance this year. Coinbase’s newly launched layer-2 blockchain, Base, saw an immense rise in on-chain activity, and Base-based memecoins are surging at lightning speed. The network’s biggest memecoin, Brett ($BRETT), quickly emerged on the must-watch list,  with a market cap of almost $1.5 billion.

$BRETT has had an impressive show in the last week and is trading up by 22.45%. $BRETT has gained 6.33% over the 24-hour chart. 

Keep An Eye on Mog Coin ($MOG)

MOG Coin ($MOG) defied market odds in June, and according to data from CoinMarketCap, it gained 37% in the past month, a whopping 68.9% in the past week, and 7.67% in the past 24 hours. $MOG is a memecoin unlike any other, but it stays true to meme fashion. The project is passionate about memes and viral content and aims to give users pure, unadulterated humour. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Crypto firms in Hawaii no longer need a Money Transmitter License (MTL) to operate a business in the state. While exempt from the MTL requirement, firms must still comply with all federal licensing laws. 

Cryptocurrency firms in the US state of Hawaii no longer have to acquire Money Transmitter License (MTL) to operate a business there. The Hawai’i Department of Commerce and Consumer Affairs (DCCA) stated that the new rules will take effect on June 30. 

Still Subject to Federal Licensing Laws

The DCCA announced on June 28 the completion of its collaborative research project, the Digital Currency Innovation Lab (DCIL). The project, initiated in 2020 along with the Hawai’i Technology Developmental Corporation (HTDC), aimed to explore digital currency activity within the state while assessing the necessary regulatory framework for companies specializing in cryptocurrencies.

The pilot program allowed digital currency issues to do business in the state without obtaining a state money transmitter license.  

According to a press release, the project’s findings “indicate that digital currency companies will no longer require a Hawai‘i-issued money transmitter license to conduct business within the state.” Under the MTL exemption, companies can “continue transaction activity as an unregulated business.”

While crypto companies are exempt from MTL requirements within the state of Hawaii, they must adhere to any applicable federal licencing and registration requirements set by the Financial Crimes Enforcement Network (FinCEN), Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA).

The DCCA also urged consumers to remain “vigilant and proactive” when dealing with crypto companies and unregulated markets. 

Banking Commissioner Iris Ikeda commented on the project and its findings.

“As we transition from this study to a broader understanding of digital currency, our focus will remain on ensuring that consumers are aware of the risks associated with this matter. We urge the public to stay informed when utilizing any form of digital currency.”

Eleven (11) companies participated in the sandbox, ranging from exchange, brokerages, payment platforms and ATM networks. Participating companies include Apex Crypto, bitFlyer, BlockFi, Cloud Nalu, Coinme, ErisX, Flexa, Gemini, River Financial, SoFi, and Uphold.

During the course of the program, crypto lender BlockFi filed for Chapter 11 bankruptcy protection. 

Opinion

Do the findings by Hawaiian regulators demonstrate that the crypto industry is subject to over-regulation? While it is perfectly understandable that a company should comply with federal regulations, additional state-enforced regulations may be overkill. Regulation comes at a great expense, not just in an enforcement sense, but extra costs due to companies choosing not to operate in a particular state due to its regulatory framework.

If a company already complies with federal guidelines, why should companies and consumers be subjected to further red tape and costs by applying for state-mandated licensing? The State of Hawaii’s pilot project demonstrates the overbearing regulatory environment in the US. It explains why many crypto-specialized companies opted for non-US shores to establish their operations.

US regulators should think long and hard over whether the endless regulatory red tape is worth the effort. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Memecoins have dominated the latest bull market, with newly launched tokens experiencing over 1000x growth in the first half of 2024. Notably, tokens like BOOK OF MEME (BOME), dogwifhat (WIF), and Brett (BRETT) have recorded over a 1000% increase since their launch, while the overall memecoin market has reached a market cap of $51 billion. 

Solana-based memecoins have led this surge, with nearly half a million tokens launched on the blockchain. Most importantly, popular Solana-based tokens are breaking out of a week-long bearish trend, which means more opportunities for promising new projects. 

One such new project is TEA, a Solana-based memecoin looking to build a sustainable ecosystem. Which managed to gather an incredibly large community of over 3 million people around the idea in a record time of less than a week.

What is TEA Memecoin?

TEA is a community-driven memecoin that unites tea lovers and the crypto community. More than just a meme token, it leverages the power of community and decentralized finance to support global sustainability, power education initiatives with innovative DeFi mechanics, and create a lasting impact.

The TEA project has quickly won the hearts of many. Its communi-TEA attracted more than 3M users and continues to grow impressively. Creativi-TEA and Chari-TEA are the two most popular features: the first captures attention with creative comments filled with puns, while the second tells compelling stories about tea plantations and the booming tea industry.

Roadmap and Key Features

TEA’s roadmap includes several features designed to drive engagement and provide real utility.

First, users can earn rewards and grow their holdings through staking and farming. Second, a burning mechanism reduces supply, increases scarcity, and supports monthly charitable raffles. And third, TEA supports charity initiatives such as pro-ecological projects and educational programs in tea-growing regions.

In addition to the memecoin, TEA is also developing several Web3 projects: Global Initia-TEA-ves, worldwide efforts to promote sustainable tea farming and education, Tap-Tea game, a community-driven tap-to-win game with real physics integration, enhancing user engagement, and exclusive TEA varieties: lifetime subscriptions to the newest and rarest teas for token holders.

Partnerships and Additional Features

TEA has recently partnered with the Web3 games Wormfare and MemeFi and the market maker Gotbit to expand its ecosystem and provide more value to its users. Moreover, the project emphasizes sustainability and long-term growth, avoiding risky perpetual trades. By holding $TEA, users are assured of stability and long-term rewards.

TEA has secured spots on top-tier exchanges, ensuring the token is readily available to a broad audience from day one. The presale, starting on June 1st, limits ensure fair distribution, giving everyone a fair shot at acquiring $TEA. Additionally, TEA’s partners and key opinion leaders are vested for the long haul, ensuring a steady infusion of value into the project.

The TEA presale

The TEA presale will begin on July the 1st, at 4 PM UTC, offering attractive bonuses in each round to maximize fairness and encourage participation:

Round 1: 3,444 $SOL with a +50% bonus

Round 2: 5,500 $SOL with a +35% bonus

Round 3: 7,500 $SOL with a +25% bonus

Round 4: 10,000 $SOL with a +15% bonus

Round 5: 12,444 $SOL with a +10% bonus

Any unallocated tokens from each round will be burned, ensuring scarcity and value preservation. The maximum investment per person is 250 $SOL, and the minimum is 0.1 $SOL. All presale terms are preliminary and more details are on the website.

Final Thoughts

Memecoins are one of the most dynamic niches in the crypto market. As this sector evolves, projects like TEA take it one step further by building a comprehensive ecosystem, providing real utility, committing to sustainability, and fostering strong community engagement. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Many crypto games are complex and fail to attract a broad audience, limiting user engagement and growth. Traditional blockchain games often lack the fun and interactive elements that appeal to a wider range of players, making them less accessible and enjoyable.

FatBoy, part of the rebranded FATTY ecosystem, solves this by offering a Play-to-Earn (P2E) game that merges the nostalgia of Tamagotchi with modern blockchain technology. Players nurture virtual characters and earn $FATTY tokens by keeping them happy and healthy. This fun and interactive approach attracts gamers and crypto enthusiasts, providing an engaging way to explore cryptocurrency.

The Game and Its Unique Features

FatBoy is a captivating game that tasks players with caring for a virtual character reminiscent of the beloved Tamagotchi. Players choose their FatBoy character from various quirky options, each with distinct traits and personalities. Once you have your FatBoy, your primary objective is to keep it happy and healthy by managing its basic needs: hunger, fun, hygiene, and energy.

To play FatBoy, follow these steps:

Choose Your Character: Choose from a variety of characters, each with unique traits, such as Fat Don, Fatcz, Fatman Terra, and more.

Feed Your FatBoy: Purchase food items from the in-game marketplace to satisfy your FatBoy's hunger.

Entertain Your FatBoy: Play mini-games and provide toys to keep your character cheerful and energetic.

Maintain Hygiene: Regularly give your FatBoy baths to keep them clean.

Ensure Rest: Ensure your FatBoy gets enough sleep to replenish its energy.

What sets FatBoy apart is its seamless integration with blockchain technology. The game operates on the Arbitrum network, which is known for its security and cost-effectiveness. This allows players to enjoy the game, engage in crypto trading, and earn real rewards. 

The in-game ecosystem includes features like fast trades, auto-sniping, and anti-rug/scam protection, offering a secure and user-friendly experience. Additionally, FatBoy provides educational tools such as a bot academy, where players can learn to set up trading bots and maximize their earnings.

About the FATTY Ecosystem

FATTY is the native token of the FATTY ecosystem, a comprehensive platform that includes FatBoy and other key products. Developed on the Arbitrum network, FATTY benefits from high scalability, low fees, and surprising speed provided by the blockchain. The FATTY ecosystem offers exceptional value for token holders, combining strong, professionally developed products with various income opportunities.

The ecosystem includes:

FatBoy Game: A Tamagotchi-style game where players earn $FATTY tokens by caring for their virtual characters.

FatBot: An advanced trading bot for meme and altcoin traders, providing fast order executions and technological advantages.

FATTY Staking: A platform where users can lock up their $FATTY tokens to earn passive income.

FATTY Analytics: An upcoming tool to provide detailed insights and analytics for the ecosystem.

FattyStore and Fatty Academy: Future additions to the ecosystem that will offer merchandise and educational resources.

Holding the $FATTY token offers multiple earning opportunities, indicating strong potential for price growth. $FATTY holders can generate passive income by receiving a share of FatBot's revenue in ETH/SOL or by staking their tokens. Additionally, they can earn active income by participating in play-to-earn challenges or using FatBot's premium performance features.

The FATTY ecosystem is designed and developed by CleevioX, a professional development studio with extensive experience in Web3 projects. This cohesive ecosystem aims to provide users with a comprehensive and rewarding experience in the crypto space, combining entertainment, education, and financial incentives.

Stay Updated

Discover the $FATTY ecosystem by visiting the FatBoy official website, where you can dive into the whitepaper to learn more about the project's objectives, details, and roadmap. 

Explore, connect, and stay informed by following FatBoy across X (Twitter), Discord, Instagram, and Telegram, enriching your experience within this dynamic community. Don't miss your chance to join this thrilling journey and contribute to the FatBoy ecosystem.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

 

There are some mixed signals for Bitcoin currently. That said, a monthly close above $61,000 is positive, and a long downside candle wick on the weekly time frame suggests strong buying. Is Bitcoin turning the corner?

Bitcoin is continuing to do its thing - nothing more, nothing less. A breathtakingly huge climb from under $40,000 up to $73,800 in the space of 8 weeks has resulted in a nice long sideways consolidation that is building beautiful price structure on top of the support of the 2021 crypto bull market.

$BTC bounces from range bottom

Source: TradingView

In the daily time frame it can be seen that the $BTC price has bounced from the $61,000 support, and that it might be headed back to the top of the range, if the price can battle through the smaller resistances on the way there.

Weekly candle shows plenty of buying last week

Source: TradingView

Zooming out a bit on the weekly time frame there is perhaps concern that last week’s candle closed underneath the $63,000 price level. That said, there was a lot of buying up of the $BTC price last week, as the long candle wick down bears testament to. The resulting dragonfly doji/pinbar candle is usually found at the bottom of corrections, and is a sign of a potential bullish reversal from here.

Monthly stochastic RSI could be a concern

Source: TradingView

On the monthly time frame, the 4 candles above the $61,000 support are holding this nicely, and the price structure that is building on top is clearly seen. Nevertheless, one significant worry is the fact that the monthly stochastic RSI (bottom of chart) has crossed down below the 80 level. It is to be hoped that this negative momentum will bounce straight back up (blue fast line is starting to bend back) or at least bounce up off the 50 level. The concern here is that this latter scenario could take a few months before curling back to the top again and bringing that positive price momentum back to Bitcoin.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

In this fast-paced world of cryptocurrency, simplicity and profitability are key. For beginners seeking an attractive option to earn a steady income with minimal effort, cryptocurrency staking offers an attractive alternative. In this article, we will explore the concept of crypto staking, with a particular focus on Crypto enthusiasts as the world's leading platform to help you start your journey to earn $1000 or more per day.

The Appeal of Cryptocurrency Pledges

Cryptocurrency pledging has long been favored by cryptocurrency enthusiasts for its ease of use and accessibility. Unlike traditional mining, it does not require expensive hardware, technical expertise, or constant monitoring.The Enthusiasts platform simplifies the process and allows anyone, regardless of experience, to participate in the cryptocurrency revolution. Instead of investing in expensive equipment and managing complex setups, users can pledge cryptocurrencies from remote data centers and receive a portion of the rewards generated.

Crypto enthusiasts Platform: A Combination of Laziness and Profitability

Enthusiasts takes the simplicity of cloud crypto staking to a new level, making it ideal for beginners. The platform's user-friendly interface ensures that even cryptocurrency newbies can navigate with ease. With Enthusiasts, laziness is no longer a shortcoming, but a path to success.

As a pioneer in providing crypto staking services, the Enthusiasts platform has been operating smoothly for more than 5 years and has won the trust of more than 8,000,000 users worldwide through stable staking rewards and safe guarantees.

Hobbyist Platform You can start earning cryptocurrency rewards by simply signing a cryptocurrency contract on your computer or cell phone.

Unimaginable earning potential

What sets Enthusiasts apart is its extraordinary daily earning potential Enthusiasts offers the opportunity to earn $500 or more per day, allowing users to turn their dream of becoming rich online into a reality. Imagine earning a substantial income without constant effort or complicated setups, that's what Enthusiasts promises.

Security and Reliability

In the world of cryptocurrency, trust and security are crucial. Enthusiasts understands this and puts user safety first. With a commitment to transparency and legitimacy, the Enthusiasts platform ensures that your

investment is protected, allowing you to focus on getting returns.

How to Get Started:

Starting your crypto staking journey with Enthusiasts is a simple process. Follow these simple steps to start earning passive income rewards:

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Cryptocurrency Contracts from Enthusiasts

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Enthusiasts tailor-made cryptocurrency fixing packages:

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Optimize your potential earnings with our powerful cryptocurrency solution.

Join the laziest path to riches

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All in all, Enthusiasts proves the power of simplicity in the cryptocurrency world. With a focus on user-friendliness, security, and extraordinary daily income potential, it offers unique opportunities for beginners and experts alike. Join Enthusiasts today and embark on the easiest but most rewarding journey to online wealth.

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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

 

The sentiment for Bitcoin is currently one of worry and concern. Will $BTC fall further? Is the bull market over? Should investors sell everything and get out while they still can? No! Bitcoin is in its bull market. It has a good long way to run yet, and if the price dips, it’s another potential opportunity to buy more.

The unnerving ups and downs of the crypto market

For those new to crypto, the swings up and down in price can sometimes be unnerving. One week, and Bitcoin is knocking on the door of the previous all-time high, another week, and Bitcoin is threatening to fall off a cliff and descend into a bear market before time.

However, this is how it is, and sometimes it’s just a case of holding on for dear life. That said, if previous bull market corrections are compared with the current ones, the 20% corrections that Bitcoin is presently experiencing are a lot less than the 30%, 40%, and even up to 70% corrections of previous bull markets.

Experienced traders would always say that the best time to invest is when the market looks as though it's going to cave in (or has just done so) and when you feel sick to the stomach, and the last thing in the world you want to do is to put any more money in.

For all that, the main thing is to think through what Bitcoin is, and also what the fiat monetary system is. Let’s start with the fiat.

What is fiat currency?

“Fiat” is a word given to currency that has no sound backing behind it. Sound backing would be something like gold or silver that the currency is tied to. This used to be the case in the US, until President Nixon took the US dollar off of its partial gold backing in 1971. The reason for this was that gold backing required the US government to be very conservative and only spend what it could afford.

Once Nixon reneged on this, the genie was out of the bottle, and ever since that time the US government has been able to spend whatever it wants in order to go to war, or to keep printing in order to pay the interest on an ever-increasing debt pile.

The word “fiat” also means the currency printed by a government, that has as a backing the value that comes from the trust in that government’s ability to pay its debts.

The constant fighting of wars, and the ensuing printing of more and more fiat currency in order to finance said debt and wars means that an ever-larger avalanche of currency enters the system, thereby diluting the existing fiat currency, and debasing its value.

For the wealthy, this isn’t really problematic, because they hold assets. As the value of the currency decreases, the prices of the assets go up. However, the poor, and many of the middle class do not generally possess assets, so their wealth decreases as debasement steals it from them.

Therefore, when you sell your Bitcoin, you are making the choice to sell an asset that is far scarcer than gold, and more than this, you are choosing to replace it with fiat currency.

Once you have made the swap, your fiat currency is a melting ice cube in the bank that, according to macro analyst and investor Raoul Pal, will generally lose around 12% per year in purchasing power (around 4% to inflation, and 8% to debasement).

What is Bitcoin?

Bitcoin is a digital asset that absolutely anyone on earth can own, with probably the only barrier to entry - a mobile phone.

Bitcoin is very scarce. There is an absolute supply of only 21 million BTC. Of this amount, around 6 million has been lost forever. More than 19 million BTC have already been issued, which only leaves less than 2 million to come over the next several decades. 

A holder can send Bitcoin to anyone in any country on the planet, and it cannot be taken away by any government or its agency. Over its short lifetime of 15 years it has increased in value against the US dollar by some 22 million percent. 

Over the next few decades it will arguably continue to take more and more value from all fiat currencies, stocks, real estate, gold and silver, and every other asset in the world. In fact, it might be said that Bitcoin is eating everything.

A long term time horizon

To conclude - if you bought Bitcoin why on earth would you worry about the price? Of course, it must be borne in mind that your time horizon needs to be a long one. The aforementioned volatility in Bitcoin can swing the price up and down wildly sometimes, but if you hold this asset for the next 10 years, previous price history suggests that this asset should continue to go up in value.

Finally, nothing is certain in markets, and even Bitcoin could suffer some kind of black swan event in the future. Hedging into other ‘sound money’ assets, such as gold or silver, or certain tech stocks, could provide a more secure portfolio. Doing one’s due diligence and research on all assets held is perhaps a good strategy.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Despite bearish predictions, Bitcoin (BTC) has crossed $63,000, rebounding after hitting its support level of $60,000 on Friday, with buyers entering the market and pushing the price higher. 

In the short term, analysts expect Bitcoin to stay between $60,000 and $64,000, with the potential to break out of this range after a couple of weeks. 

A Tussle Between The Bulls And The Bears 

Last week, Bitcoin dropped slightly below its support level of $60,000. However, lower levels attracted a large number of buyers, and their attempts to begin a recovery have seen BTC surge past the $63,000 mark. Looking at the bigger picture, Bitcoin is still stuck between the $57,000 and $73,000 range, indicating an intense tussle between the bulls and bears. At the moment, it remains difficult to predict a bullish or bearish breakout. 

Investors themselves are conflicted about Bitcoin’s future price action, with some, such as former PayPal CEO Peter Thiel, stating that Bitcoin does not have much room to run on the upside. Thiel had stated, 

“I’m not sure it’s going to go up that dramatically from here. We got the ETF edition, and I don’t know who else buys it. It probably still can go up some, but it’s going to be a volatile, bumpy ride.”

However, some investors, such as the popular trader BitQuant, are bullish on Bitcoin’s prospects. In a post on X, the trader stated that Bitcoin could reach $95,000. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has made a strong recovery over the weekend after hitting a low of $58,474 at the beginning of last week. However, with strong support at these levels, BTC was able to climb back above $60,000 and settle at $60,330. With bulls defending this level, BTC was able to register a 2.52% increase on Tuesday. However, Wednesday saw the return of bearish sentiment, with the price dropping to $60,854 before registering an increase of 1.38% on Thursday and settling at $61,691. BTC fell back in the red on Friday as significant selling pressure forced the price down to $60,412, as sellers looked to push the price below its support level of $60,000. 

Bitcoin (BTC) rebounded strongly from this level over the weekend, as buyers pushed it to $60,987 on Saturday. Sunday saw an even greater increase, with BTC rising by 2.88% to $62,741. This saw BTC break past and close above a significant level of resistance at $62,500. The current session sees BTC trading above the $63,000 mark as buyers attempt to push it past $64,000.

Source: TradingView

Looking at the price chart, we can see that BTC has moved past the resistance at $62,500. The next key resistance lies at $64,000, which is where the 20-day SMA is also present. If Bitcoin is able to go past $64,000, we could see a push towards $66,500. However, should the sentiment return to bearish, BTC could slide back to its support level of $60,000. If sellers are able to breach this level of support, BTC could drop to $58,000, where the 200-day SMA could act as a dynamic level of support.

Ethereum (ETH) Price Analysis

Ethereum (ETH) has been trading in a descending pattern since the beginning of June, as seen in the price chart. The cryptocurrency had dropped to its support level of $3,350 last Monday. However, since hitting this level, ETH has rebounded strongly and has nearly wiped out previous losses. ETH spent the previous week trading between $3,350 and $3,500, with both support and resistance levels holding firm. Buyers pushed ETH up by 1.28% on Tuesday but could not push the price beyond $3,400, with ETH settling at $3,395. Sellers were back in control on Wednesday, as ETH dropped to $3,369. ETH made a strong recovery on Thursday, registering an increase of $3,449. However, sellers were able to defend the $3,500 level, and the price fell back on Friday, dropping to $3,376.

Source: TradingView

The drop came after yet another attempt by buyers to push ETH above the $3,400 mark, with ETH reaching a day high of $3,486, before sellers were able to reverse the trend. The weekend started on a bearish note, with ETH registering a marginal drop. However, ETH made a strong recovery on Sunday, rising by 1.82% to close above the crucial $3,400 mark at $3,436. The current session has seen ETH push past the 20-day SMA, with the price currently at $3,484. Buyers are trying to push ETH past the resistance at $3,500, but so far, the sellers have managed to defend this level, pushing ETH down.

If ETH can move above $3,500, we can see an increase to $3,600. Any reversal will see ETH slip below the 20-day SMA and drop towards its support level of $3,350. If there is any further selling pressure, ETH could slide towards $3,100.

BNB Coin (BNB) Price Analysis

BNB Coin (BNB) had a mixed week after dropping to $568 last Monday, as sellers attempted to push the price below the $560 support zone. BNB reached a low of $551 before buyers were able to push the price back up. Tuesday saw a strong rebound, with BNB rising by 1.78% to $578. A highly volatile session on Wednesday pushed the price down to $572. Sellers attempted to push BNB back below $560 on Thursday. However, buyers entered the market at lower levels, with BNB eventually posting an increase of 1.48% and rising to $581.

Friday saw considerable selling pressure, with BNB dropping to $566 after a drop of 2.51%. Despite the selling pressure, BNB’s support at $560 held, and the cryptocurrency registered a marginal increase on Saturday. Sunday saw BNB register an increase of 2.12%, rising to $581, ending the week on a bullish note. The current session sees BNB up by 0.40% as buyers attempt to push the price above the 20-day SMA and $600.

Source: TradingView

As we can see from the price chart, BNB’s support and resistance levels have held firm so far. If buyers can push the price above the 20-day SMA and $600, we could see a strong push towards $700. However, for such a scenario to play out, BNB must first get past the 20-day SMA. A reversal could see the support at $560 tested once again.

Solana (SOL) Price Analysis

The Solana (SOL) price has surged following VanEck’s spot ETF application. The cryptocurrency has been bullish for nearly all of last week, surging after hitting a low of $122 on Monday. SOL was able to make a strong recovery from this point, ending the day at $132.33, just below the 200-day SMA. SOL moved past the 200-day SMA on Tuesday, registering an increase of 3.22% and settling at $136.59 after failing to move past $140. Wednesday saw a highly volatile trading session, with buyers attempting to push SOL above $140 while sellers defended this position and attempted to push SOL below $135.

Source: TradingView

SOL registered a significant increase of 9.40% on Thursday, an increase that saw it surge past the 20-day SMA. However, with considerable selling pressure at $150, SOL was unable to maintain its bullish momentum, settling at $149. SOL registered a significant drop of 6.51% on Friday, going below the 20-day SMA and settling below $140 at $139.90. SOL attempted to move back above the 20-day SMA on Saturday but could not, registering only a marginal increase. However, Sunday saw SOL firmly in bullish territory, as the price surged past the 20-day SMA after an increase of 4.57%, rising to $146.52. The current session sees SOL up by almost 1% as it looks to move above the crucial $140 mark.

There are several crucial levels to consider regarding any future price movements. SOL has support at $140 and $135. Should bearish sentiment return, we could see SOL drop to either one of these levels. However, if SOL is able to close above $150, we could see the price move towards the $170-$180 zone.

Polkadot (DOT) Price Analysis

Polkadot (DOT) has seen a strong recovery over the past week, as it rebounds after losing the crucial $6 level. Since then, the cryptocurrency has registered an increase of almost 13%. DOT started facing considerable selling pressure last Monday as sellers attempted to push the price below $5.50. However, with buyers present at this level, DOT was able to recover and settle at $5.72. DOT continued its upward trajectory on Tuesday, registering an increase of 2.10% as buyers attempted to reclaim the crucial $6 level. However, they were unable to do so, and DOT dropped by 0.68% to settle at $5.80 on Wednesday.

Thursday saw a strong showing by DOT as the price surged over 8% to go past the 20-day SMA and $6 to settle at $6.28. DOT attempted to push above $6.50 on Friday, but with sellers active at this level, it dropped by 1.59% to $6.18. Selling continued on Saturday as bears attempted to push DOT below $6. However, they were unable to push the price below $6, with DOT settling at $6.07, with buyers entering the market and pushing the price up by 2.31% on Sunday to end the weekend on a bullish note. The current session sees DOT up by 1.93%, as buyers make another attempt to push the price above $6.50.

Source: TradingView

As we can see in the price chart, DOT faces resistance at $6.50 and $6.70. If it is able to get past these levels, we could see a push towards $7. However, if the price is rejected at these levels, DOT could drop back to its support level of $6 and enter a period of consolidation.

Dogecoin (DOGE) Price Analysis

Dogecoin (DOGE) has been trading between $0.120 and $0.130 since June 18, unable to move past the 20-day and 200-day SMAs. After a period of sideways consolidation, DOGE attempted to move past the 200-day resistance on Tuesday, registering an increase of over 6% to move to $0.126. However, bears pushed back, with DOGE dropping by just over 3% on Wednesday. Thursday saw yet another attempt by buyers to break past the resistance. However, they were unable to push above $0.130 and settled at $0.127. Friday saw DOGE drop by 3.07%, and another drop of 1.54% saw the price drop to $0.121 on Saturday. DOGE was able to recover from this level, rising by 2.56% on Sunday and settling at $0.124. The current session sees DOGE up by 1.77%, trading at $0.125.

Source: TradingView

Cardano (ADA) Price Analysis

Cardano (ADA) had a relatively strong showing during the previous week, with support at $0.37 holding, allowing buyers to enter the market. ADA registered an increase of 3.70% on Tuesday, rising to $0.39. However, it was unable to move past $0.40 and dropped by almost 2% on Wednesday to $0.38. Thursday and Friday saw similar movements as buyers and sellers struggled for control.

Source: TradingView

The weekend saw buyers attempt to push ADA past the 20-day SMA, with the price reaching an intra-day high of $0.40. However, sellers regained control and pushed ADA back down to $0.38. ADA started Sunday on a positive note, moving to $0.39. The current session sees ADA at $0.40 as buyers attempt to push ADA above this crucial level. If ADA is able to maintain this bullish momentum, we could see the price climb towards $0.45.

Uniswap (UNI) Price Analysis

Uniswap (UNI) registered a sharp drop on Friday after failing to get past the 50-day SMA and $9.50. The price dropped by 5.39% to just under $9, a crucial level of support. However, sellers were able to push UNI lower on Saturday, with the asset registering a drop of 1.69% to $8.83. Buyers were able to enter the market at this level, with the 200-day SMA acting as a dynamic level of support.

Source: TradingView

As a result, UNI registered a strong increase on Sunday, rising by 5% and reclaiming the crucial $9 level to settle at $9.27. The current session sees UNI at $9.33 as buyers and sellers struggle to control the session. UNI faces two levels of resistance, one at $9.50 and the other at $10. Should UNI retake $9.50, we could see a push towards $10. However, should sellers retake the current session, selling pressure could force UNI back to its support level of $9.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

After recent market difficulties, widespread losses and Bitcoin ($BTC) dropping below crucial levels, certain altcoins, including Polkadot ($DOT), look poised for some welcomed growth. 

Following a significant dip in the market, with Bitcoin dropping briefly below $60,000, indicating broader market stagnation, certain altcoins appear ready for substantial growth. Polkadot’s $DOT gained 8% in the past week and is currently trading at $6.15. 

Altcoins Up as Bitcoin Dips

The crypto market took a big knock over the past few weeks, with Bitcoin ($BTC) briefly dipping to a recent low of $58,500. While signals looked overwhelmingly bearish, the market appears to have recovered slightly, with $BTC gaining back some ground, currently trading at $61,644. In a few days, the Crypto Fear and Greed Index shifted from the mid-70s, indicating extreme greed, to as low as 30, indicating fear among participants. Market sentiment improved somewhat, and the index shows a neutral score of 47. 

The improvement in market sentiment is reflected in prices, with altcoins such as Cardano and Polkadot looking poised for significant growth.

 

With a market cap exceeding $8.8 billion, Polkadot trades at $6.15, surging nearly 8% in the past week despite this week’s market turndown. $DOT is up 1.42% over the 24-hour charts

What Is The Driving Force Behind $DOT’s Growth?

Polkadot is famous for its interoperability and its significant contributions to decentralized applications. Polkadot’s community is currently considering a proposal for a new bridge to enhance its interoperability with Cardano, which sent waves of excitement through both communities and is reflected in the prices of $ DOT and $ ADA.

While the project's feasibility is still under discussion, the aim is to address interoperability issues that remain prevalent in the crypto industry. Talks of the new bridge come just days after the activation of SnowBridge, a Polkadot-Ethereum bridge, on June 20. SnowBridge uses first-party signatures from Ethereum and Polkadot validators, resulting in a transparent, permissionless and auditable process. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Julian Assange, co-founder of WikiLeaks, has regained freedom from a Belmarsh prison in the UK after nearly 12 years of legal battles and confinement. After being forced to take private jets following his release, a mysterious Bitcoin donor stepped in to take care of Assange’s transportation costs. Let’s find out more. 

Bitcoin

A mysterious Bitcoin donor has stepped in to pay the debt accrued by Julian Assange in private airline bills following his release after over a decade of legal troubles and imprisonment. 

An on-chain analysis revealed that a German Government-labelled crypto wallet sold 900 Bitcoin on June 25th, sparking concerns and keeping the market on its toes about the potential drop of $BTC below its key $60,000 mark.

Presidential candidate Donald Trump is in talks to speak at the Bitcoin 2024 convention in Nashville, signaling a significant shift in his stance on cryptocurrency as he seeks to attract votes in the upcoming election.

Defunct crypto exchange Mt. Gox will start distributing $9 billion in bitcoin ($BTC) and bitcoin cash ($BCH) repayments from the beginning of July 2024.

Ethereum

SEC Chair Gary Gensler announced that the approval process for Spot Ethereum ETFs is progressing smoothly. Following a structured regulatory approach and recent legislative clarity, the ETFs are eagerly anticipated to launch in July, sparking excitement in the market.

Billionaire crypto entrepreneur Andrew Kang has posted on X that the impact of the launch of a Spot Ethereum ETF would provide “not much” upside and that it is already “more than priced in.” 

Altcoins

VanEck has submitted an application to the SEC to launch the first spot Solana ETF in the United States, aiming to expand its cryptocurrency investment products and capitalize on Solana's blockchain utility. 

Technology

Substrate is a toolbox that allows the creation of special types of blockchains. While not a blockchain, it gives developers the power to create unique blockchains. 

Blockspace is the storage and computational capacity required to create a block and execute blockchain operations and is better aligned with Web3. Polkadot’s design as a blockchain ecosystem sits at the heart of its blockspace offering.

Polkadot bridges facilitate communication and interoperability between two technologically diverse and economically sovereign chains, which makes the Polkadot ecosystem compatible with external blockchains such as Bitcoin, Ethereum, and others. 

Security

Remy St Felix, of West Palm Beach, has been convicted on charges including conspiracy, kidnapping, and other crimes of violence for leading a multi-state gang that stole hundreds of millions in cryptocurrency through home invasions.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

The cryptocurrency landscape is currently experiencing many liquidations, sparking major concerns among traders. Dogecoin's future looks bleak, as it now trades under $0.12 amidst a general market slump. Similarly, Dogwifhat has rapidly decreased, dropping out of the top 50 cryptocurrencies. 

In these uncertain times, BlockDAG emerges as a source of stability and potential growth, presenting a golden opportunity for investors to shield themselves from market fluctuations and aim for guaranteed financial gains. Riding high on its presale success, BDAG's price has rocketed by 1300% from its initial offering, demonstrating a consistent upward trajectory. Not just a safe harbor, BlockDAG also offers significant potential returns through its innovative X30 miner.

Dogecoin Price Prediction: Market Sentiment Analysis

Dogecoin's market performance is notably poor currently. Priced at $0.1159, it reflects a substantial 7.30% decline during the European market session, part of a wider downturn affecting the entire crypto market and investor confidence. Dogecoin's market cap has also fallen by 7% to $17 billion, though trading volumes have spiked by around 124%, suggesting a reaction to the market's movements. 

Nevertheless, technical indicators point to a continuing downtrend for Dogecoin, with the Relative Strength Index signaling an oversold condition. Should the crucial $0.11 support level break, Dogecoin might drop further, possibly down to $0.09.

Dogwifhat Price Analysis: A 38% Decline

The cryptocurrency Dogwifhat (WIF) is also facing severe bearish pressure, leading to a 38% plunge in price and its exit from the top 50 cryptocurrencies. The market cap for WIF has dwindled to $1.55 billion, a significant loss of approximately 65% from its peak value of $4.83 three months ago. 

Market analysts caution that this period does not represent a buying opportunity but indicates possible further declines. Although rumors of potential new exchange listings could broaden WIF's market exposure, the overall market sentiment remains decidedly pessimistic.

BlockDAG Boosts Network Security Amid Soaring ROI

BlockDAG's presale success starkly contrasts with the broader crypto market woes. The project has successfully raised $54.6 million across 19 presale batches, demonstrating solid confidence and backing from early investors. This support highlights the project's potential for rewarding outcomes. 

The price of BDAG has soared from $0.001 in its first batch to $0.014 in the 19th batch, a remarkable 1300% increase. With a planned launch price of $0.05, early investors are poised for significant financial returns. Industry forecasts suggest that BDAG's value could reach $10 by 2025 and $20 by 2027, offering a profitable venture for those involved early. 

Additionally, the X30 miner remains a cornerstone of BlockDAG's profit strategy, delivering impressive efficiency with a hash rate of 280 GH/s and only using 220 watts. This miner can produce up to 600 BDAG coins daily, significantly boosting investor returns as the coin's value increases.

The X30 incorporates ASIC technology, optimizing performance within the BlockDAG ecosystem and ensuring scalability for future enhancements. This tech advantage secures the network and boosts potential returns through efficient, high-performance mining.

Conclusion

With ongoing crypto liquidations stirring market turbulence, the declines of Dogwifhat and the pessimistic outlook on Dogecoin highlight the volatility in the crypto markets. However, BlockDAG offers a strategic investment route with its impressive presale success, raising over $54 million and offering promising price forecasts, supported by the productive capabilities of its X30 miner. 

For investors aiming to shield themselves from general market downturns and secure solid price gains, BlockDAG represents a promising long-term investment opportunity.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

 

Stacks (STX) has secured an 11% increase in value in the ever-volatile cryptocurrency market, making it a standout amidst market fluctuations. This increase is primarily attributed to the growing interest in Bitcoin-related NFTs, particularly Ordinals. On the other hand, Polkadot (DOT) has seen a significant 44% decrease in its value, prompting investors to reassess its potential. 

In contrast, the presale of BlockDAG has experienced a remarkable 1300% surge in value. The price for Batch 19 of BlockDAG soared from $0.001 to $0.014 thanks to innovative blockchain solutions and effective marketing strategies that have established its presence globally. This impressive performance during the presale makes BlockDAG a strong candidate for investors looking for lucrative opportunities in crypto ETFs.

Stacks Achieves Growth Amid Market Instability

Despite the general instability in the broader market, Stacks (STX) has demonstrated remarkable resilience. As the native token of the Stacks network—which enhances the Bitcoin blockchain by incorporating smart contracts—STX has recorded an 11% growth this year. 

This increase is mainly due to the rising popularity of Bitcoin-based NFTs like Ordinals, which have boosted network activity and, consequently, the value of STX. The significant rise in STX's trading volume, which spiked by 387.11% to reach $147 million in just 24 hours, reflects a strong investor interest and a positive market outlook. Additionally, Stacks' compliance with SEC regulations offers investors an added layer of security and legitimacy.

Polkadot Encounters a Steep Decline, Dropping 44%

Polkadot (DOT) has witnessed a sharp 44% decline in its price, now hovering around $6.19, down from over $11 earlier this year. This downturn mirrors the wider market’s instability, influenced by regulatory uncertainties, macroeconomic factors, and changing investor sentiments. Nonetheless, these market adjustments might offer valuable investment opportunities for discerning investors. 

Crypto analysts, including Michaël van de Poppe, suggest that Polkadot could be approaching critical support levels that might pave the way for a recovery. Despite the immediate setbacks, the long-term outlook for Polkadot remains promising, supported by its unique parachain structure and ongoing projects that continue to strengthen its ecosystem.

BlockDAG's Global Expansion Drive Presale Success

BlockDAG, employing a Proof of Work consensus model, has emerged as a global frontrunner in Layer 1 blockchain technologies. Its innovative DAG (Directed Acyclic Graph) architecture supports the processing of blocks concurrently, which boosts both the security and the efficiency of transactions. Thanks to these advanced capabilities, BlockDAG has become a compelling option for investors, especially given the market's current dynamics.

Initially priced at a mere $0.001 per unit during its first presale batch, BlockDAG's value has impressively surged by 1300%, reaching $0.014 in its 19th release. Future projections suggest that by 2030, BlockDAG's value could climb as high as $30 per unit. This could yield returns up to 30,000 times the initial investment for those who invested early. The cryptocurrency community is excitedly buzzing, anticipating substantial financial gains from this innovation.

BlockDAG has also ramped up its visibility through strategic marketing and high-profile promotional events around the globe. Noteworthy venues such as the bustling Shibuya Crossing in Tokyo, the iconic Sphere in Las Vegas, and the famous Piccadilly Circus in London have all been sites of BlockDAG promotional activities. These events have significantly boosted its market presence and underscored its potential to be a major player in the blockchain sector.

Final Thought

The contrasting movements observed in the prices of Stacks and Polkadot illustrate the unpredictable nature of the cryptocurrency market. While Stacks has capitalised on the growing interest in Bitcoin-related NFTs, Polkadot has struggled amidst market uncertainties. 

Conversely, BlockDAG's presale has not only thrived but also captured the attention of investors and analysts with its robust technological framework and strategic marketing initiatives. With its innovative approach and potential for high returns, BlockDAG offers a compelling option for those considering investment opportunities in cryptocurrencies, particularly crypto ETFs.

Invest in the BlockDAG Presale Now:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

 

Polkadot is a highly innovative blockchain protocol that focuses on issues related to scalability and interoperability. The platform has positioned itself as a viable alternative to Ethereum, attracting significant interest from developers, investors, and crypto enthusiasts.

Polkadot’s Relay Chain does not support smart contracts natively. However, parachains, the Layer1 blockchains that run in the Polkadot ecosystem, come with smart contract support. 

What Are Polkadot Smart Contracts?

Polkadot smart contracts are self-executing contracts that have a set of predetermined rules and conditions. These smart contracts are generally written in Rust, the programming language used by the Substrate framework. The Substrate framework is custom-built to develop parachains in the Polkadot ecosystem. Smart contracts on Polkadot allow developers to create dApps (decentralized applications) and execute programmable logic. They also facilitate completing different functions, including token transfers, governance mechanisms, and decentralized finance (DeFi) protocols. 

Polkadot smart contracts can interact with the Polkadot ecosystem and leverage its shared security and interoperability. However, Polkadot’s Relay Chain does not support smart contracts. Instead, parachains in the Polkadot ecosystem come with smart contract support. 

Writing A Smart Contract On Polkadot

When developers write a smart contract on Polkadot, they create a set of instructions associated with a specific chain address. When creating a smart contract, developers must consciously develop upgradeability, and the contract is deployed on a target chain that has its own environment. Smart contracts must also limit their execution; otherwise, they could consume the computational resources of a chain and prevent others from using it. 

As mentioned, the Relay Chain does not come with native smart contract support. However, parachains connected to the Relay Chain can and do support smart contracts. Substrate supports smart contracts in the following ways, 

The EVM pallet by Frontier

The Contracts pallet is offered by the FRAME library. These can be used for WASM-based contracts. 

Frontier EVM Contracts 

The Frontier suite allows a Substrate-based chain to run Ethereum contracts natively with the same API/RPC interface. It also enables Ethereum addresses to be mapped directly to and from Substrate’s SS58 scheme. 

Substrate Contracts 

Substrate offers developers a built-in contract pallet. On the other hand, parachains can also support WebAssembly smart contracts. The EVM Pallet allows parachains to implement the Ethereum Virtual Machine (EVM), which supports direct ports of Ethereum smart contracts. 

Contracts Pallet

Developers are generally more familiar with deploying to an EVM-based chain. The Contracts Pallet significantly improves the design of the EVM. 

WASM - The Contracts Pallet uses WebAssembly as its compilation target. Developers can write smart contracts using any language that compiles to WASM. 

Deposit - Smart contracts must hold a deposit (ContractDeposit) large enough to justify their existence on the chain. Contract deployers must deposit the ContractDeposit into the new contract over and above the ExistentialDeposit.

Caching - All contracts are cached by default. They must be deployed only once, and once deployed, they can be instantiated as many times as required. This keeps the storage load on the chain at a minimum. Additionally, the code will be erased from storage when the contract is no longer in use. 

Advantages Of Developing Smart Contracts On Polkadot

Polkadot gives developers an unprecedented level of interoperability. Web apps on Polkadot become inherently interoperable with other parachains in the Polkadot ecosystem. There are several other advantages of developing smart contracts on Polkadot. 

Harnessing The Relay Chain

Developing smart contracts on Polkadot allows developers to harness the capabilities of the Polkadot Relay Chain, including scalability, consensus mechanisms, shared security, and governance. 

Greater Security 

Smart contracts on Polkadot are able to leverage the security of the underlying blockchain. 

Optimization And Flexibility 

Polkadot gives developers a high degree of flexibility, eliminating challenges arising from optimizing diverse use cases. 

Seamless Upgrades 

Polkadot allows developers to perform seamless and timely upgrades to their smart contracts, ensuring they stay updated with the latest technologies and ensuring uninterrupted functionality.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

In today's rapidly evolving world of cryptocurrencies, staking is quickly emerging as a popular way for investors to generate passive income. As blockchain technology advances, more and more cryptocurrency projects are adopting staking mechanisms, allowing token holders to participate in network maintenance and security by locking up their assets in exchange for rewards. 

Whether you are a newcomer to the blockchain space or a seasoned veteran, staking offers a unique opportunity to retain your assets while earning additional income. However, like any investment strategy, staking comes with its own set of risks and challenges. There are several drawbacks to cryptocurrency staking:

Price Volatility Risk:

Staking rewards and the value of staked tokens can be highly susceptible to market volatility. In a volatile market, the price of your staked cryptocurrency can fluctuate significantly, potentially decreasing the overall value of your holdings. It’s important to be aware that even if you earn staking rewards, a sharp decline in the token’s price could offset those gains.

Network Protocol Violations:

When participating in staking, there are specific network protocols and rules that must be followed. Violations of these protocols, whether intentional or accidental, can result in your staked cryptocurrency being "slashed" or partially forfeited. This slashing mechanism is designed to maintain network security and integrity but poses a risk if you do not strictly adhere to the rules.

Security Concerns:

Staked cryptocurrencies are not immune to security threats. Network attacks, such as 51% attacks or other forms of malicious activity, can compromise the security of the network and impact your staked assets. Unlike traditional financial systems, many blockchain networks lack comprehensive regulatory oversight, which can exacerbate these security risks.

Technical Knowledge Requirements:

Successful staking often requires a deep understanding of the technical aspects of the blockchain network. This includes knowledge of how to set up and manage nodes, the specific staking conditions, and how to avoid common pitfalls. Without this advanced technical knowledge, investors may find it challenging to maximize their staking returns and avoid potential risks

.

However, through the OkayCoin platform, the aforementioned risks are significantly minimized. The platform ensures compliance with network protocols through clear guidelines and automated checks, reducing the risk of slashing. With well-managed inflation rates and robust security measures, including multi-layer protection and regular audits, OkayCoin safeguards users' staked assets. 

Operating in full compliance with global regulatory standards, OkayCoin offers a secure and legal environment for staking. Additionally, the platform provides comprehensive user support, making staking accessible even for those with limited technical knowledge. Start staking on OkayCoin today and experience a secure, efficient, and rewarding investment journey. 

The Crypto staking process on OkayCoin:

Registration and Account Setup:

Go to the best crypto staking platform OkayCoin and sign up for an account.

Step-By-Step Guide:

Go to the staking section on the platform and choose free trial liquid staking. If you are interested in other staking products, feel free to browse.

Choose Free Trial Liquid Staking from the available list of stacking options provided.

Keep an eye on your rewards by monitoring them through staking dashboard(s).

On this platform, you can start staking with a $100 bonus just by signing in, without having to invest your own money. 

The Bottom Line

Choosing the best crypto staking platform, such as OkayCoin, can make crypto staking simple and low-risk. It saves you time, provides additional income, and eliminates the need to learn extensive specialized knowledge. With OkayCoin's user-friendly interface, robust security measures, and comprehensive support, staking becomes an accessible and rewarding experience for everyone. Dive into the world of crypto staking with OkayCoin and unlock the potential of your investments effortlessly. 

For more information on how to get started with OkayCoin and make the most of the crypto summer, visithttps://okaycoin.com.

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

 

The Bureau of Economic Affairs released its Personal Consumption Expenditures price index for May today on Friday. 

The PCE - which is considered the Federal Reserve’s favoured inflation metric - seems to indicate that the central bank is winning its war against inflation. 

Both the headline and core PCE YoY prints for May fell to 2.6%, in line with the market’s expectations. Meanwhile, the “supercore” PCE rose only by 0.1%, its smallest increase since August 2023. 

BREAKING: May PCE inflation, the Fed's preferred inflation measure, fell to 2.6%, in-line with expectations of 2.6%.Core PCE inflation fell to 2.6%, in-line with expectations of 2.6%.Both headline and Core PCE inflation declined last month.Another welcomed sign by the Fed.

— The Kobeissi Letter (@KobeissiLetter) June 28, 2024

The data bodes well for Bitcoin and risk assets, considering that it increases the odds of the Fed pivoting to quantitative easing much earlier than expected. Smart money traders are also eyeing BRC-20 tokens such as 99Bitcoins with great interest, considering their strong correlation with BTC. 

Will The Federal Reserve Cut Interest Rates In July?

As previously mentioned, the PCE is the Fed’s favoured inflation index. With the PCE inching towards the central bank’s 2% inflation target, a Fed pivot may not be far away. 

The next FOMC meeting is scheduled for July 31st. Currently, the CME FedWatch tool is signalling only a 10.3% probability of an interest rate cut at this meeting, highlighting that the central bank will very likely keep its benchmark rate at 525 - 550 bps. 

However, the May PCE may cause the Fed to pivot much earlier than expected. For instance, San Fransisco Fed President Mary Daly has called today’s inflation print “good news”, claiming that the monetary policy is working. 

If the Fed does continue to keep interest rates unchanged, the next date for a rate cut would very likely be September 18th. The CME FedWatch tool is signalling a greater than 60% likelihood of a rate at this FOMC meeting. 

Will Bitcoin Skyrocket In June?

The Bitcoin price has shown a high correlation with the macroeconomic outlook. Consequently, a dovish pivot by the Fed should theoretically provide a major boost to BTC.

As such, the miner selling pressure on Bitcoin is also easing, which paves the way for a significant BTC rally in July. 

For instance, popular crypto analyst CrediBULL Crypto (@CredibleCrypto) is hinting towards a substantial uptick in the BTC price over the coming months, starting in July. 

Yes, I'm telling you there's a chance. $BTC pic.twitter.com/JSjF9Tf6pg

— CrediBULL Crypto (@CredibleCrypto) June 27, 2024

However, this would require the bulls to defend the $60,000 support level, especially ahead of the weekly and monthly close in a few days. 

Could 99Bitcoins Also Explode?

Popular crypto educational platform 99Bitcoins has recently launched a new learn-to-earn cryptocurrency, fashioning it as a BRC-20 token. 

BRC-20 tokens are expected to be in high demand during this bull cycle, owing to their high correlation with Bitcoin. 

The 99BTC has already raised over $2.3 billion in its ICO, signalling a strong interest from smart money traders and retailers alike. 

After all, 99Bitcoins already has an established community backing in the crypto industry. The company was founded in 2013, even before the inception of the Ethereum blockchain. 

The platform currently boasts over 2.8 million subscribers on its website, in addition to another 700k on its YouTube. Through the new 99BTC token, it is now offering lucrative incentives and rewards to these community members, which bodes well for the token’s long-term upside potential. 

For instance, investors would get free crypto for simply completing 99Bitcoins’ learning material. Additionally, token holders will receive lucrative staking rewards, alpha trading signals and access to VIP groups. 

Even 99BTC presale buyers can stake their holdings and earn attractive rewards, currently at an APY of over 700%. Furthermore, they can visit the 99Bitcoins website and register for the airdrop, which will award over $1000 in BTC to 99 lucky winners. 

Owing to its unique value proposition, experts such as Jacob Bury believe that 99BTC could deliver up to 10x returns after its launch. 

Visit 99Bitcoins Presale

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

 

VanEck has submitted an application to the SEC to launch the first spot Solana ETF in the United States, aiming to expand its cryptocurrency investment products and capitalize on Solana's blockchain utility. 

After ETH, BTC, Now SOL ETF

VanEck, a notable pioneer in the cryptocurrency exchange-traded fund (ETF) market, has recently taken a significant step in its crypto ETF journey by filing an application for a Solana ETF with the U.S. Securities and Exchange Commission (SEC). The firm submitted an S-1 registration statement for its "VanEck Solana Trust" on Thursday, aiming to launch the first spot Solana (SOL) ETF in the United States.

A First for Solana ETFs in the US

According to VanEck's head of digital asset research, Matthew Sigel, the company is breaking new ground as the first in the U.S. to apply for a Solana ETF. This move marks a notable progression in the cryptocurrency investment sector. As per the filing, VanEck emphasized that the Trust and its Sponsor will not engage in staking activities to earn additional SOL or generate other forms of income from the holdings.

Announcement and Rationale

Sigel, head of digital asset research at VanEck, announced the news on June 27 via the X platform. He highlighted that the new fund, named VanEck Solana Trust, aims to leverage the high utility and economic feasibility of the Solana blockchain. 

Sigel remarked, 

"We believe that the native token, SOL, functions similarly to other digital commodities like Bitcoin and Ether. It is used to pay transaction fees and computational services on the blockchain. Like Ether on the Ethereum network, SOL can be traded on digital asset platforms or used in peer-to-peer transactions."

Investment Product Expansion

This application signifies VanEck's continued efforts to expand its cryptocurrency investment products. The firm views SOL as a commodity despite the SEC's ongoing classification of similar assets as securities. The prospectus outlines that the ETF will reflect Solana's price performance by directly backing the Trust's shares with SOL tokens. VanEck plans to list the ETF on the Cboe BZX Exchange.

Broader Implications and Market Context

The filing follows the SEC's recent approval of 19b-4 applications from national exchanges, allowing them to list spot Ethereum ETFs. Although the S-1 statements for these Ethereum ETFs are still pending final approval, expert analysis suggests they could go live soon. This context raises questions about the SEC's potential stance on the Solana ETF.

Experts argue that denying a similar product for Solana would be challenging, given the existing presence of Bitcoin and Ethereum ETFs. 

In fact, according to a legal expert, if the SEC approves Ethereum ETFs, it would be challenging for the agency to deny approval for Solana ETFs, as they function in essentially the same manner from the SEC's perspective.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Many investors into cryptocurrencies are holding coins and tokens that are not appreciating in value. Promises and predictions have not come to fruition. Is it time to sell them, and what is the best indicator of an altcoin’s potential?

Holder pain to continue?

There are certain altcoins that were born in previous bull cycles that many investors, particularly retail investors, are still holding today, in the hope that somehow these altcoins will return to previous highs, where in all likelihood, this was at or near the price they were bought at initially.

An added problem is that some of these altcoin projects have managed to attract big communities, and within those communities there are plenty who would continue to try and influence the rest to hold firm, that future technological breakthroughs will see the altcoin return to, and surpass, previous all-time highs.

However, for whatever reason, whether it is outdated or slow technology, poor tokenomics, a centralised authority issuing too many tokens, or just an unworkable or unneeded use case, these altcoins will likely keep bleeding out against the US dollar, and other cryptocurrencies, and the pain for holders will just continue.

Of course, there is always the chance that some breakthrough could be made, whether that is in the tech, or whether that is with some huge deal with a big company or perhaps even with some government. But the longer a crypto project goes without creating significant revenue, or without attracting plenty of actual users to transact on its platform, the more unlikely a positive deal is to take place.

One of the best indicators 

So what is arguably one of the best indicators for evaluating whether your altcoin is worth keeping or not? Very simply, you compare its price action with that of Bitcoin. If your altcoin is in an uptrend against $BTC over a decent period of time, the chances are that this could continue. But if the trend is down, and your altcoin continues to lose value against $BTC what is the point in keeping it?

The incredibly liberating thing about comparing all altcoins to $BTC is that you will notice that very few of them are actually consistently outperforming the king of the cryptocurrencies since this bull market began in late 2022/early 2023.

Two charts that do not inspire confidence (and one that does)

Source: TradingView

Source: TradingView

The previous two charts do not exactly inspire confidence. $XRP (first chart) has been dragging along at a similar low price against BTC since 2114, and $ADA has been doing the same since 2018.

Source: TradingView

However, the chart above of $RNDR shows the opposite. An uptrend against $BTC is definitely in play, and has been since the beginning of 2023, although the price will need to be watched to see that the bounce from the 0.618 continues, and that the resistance is eventually broken.

Do not become wedded to your altcoins

The mistake many investors make is to become wedded to their altcoins. It has to be realised that all cryptocurrencies need to be constantly evaluated. If they are not up to the mark, i.e. they are not keeping up with Bitcoin, and unless there is a very good reason, this is arguably the time to get rid.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

The Polkadot community is considering a proposal for a new bridge to enhance interoperability with Cardano, hoping to benefit both ecosystems by addressing current connectivity challenges.

New Bridge Under Discussion

The Polkadot community is exploring the potential for a bridge between the Polkadot and Cardano networks. Discussions are ongoing regarding the feasibility of this project. According to Felix, an agent within the Unifires ecosystem, a Cardano-Polkadot light client and NFT swap bridge are currently under development, and the proposal has already been submitted to Cardano for review. A similar proposal will soon be presented to OpenGov, Polkadot’s decentralized governance body.

Proposal and Potential Impact

Felix shared on the Polkadot Forum that the proposal if approved, could significantly benefit both ecosystems. The primary aim is to secure funding for a project that will address interoperability issues prevalent in the cryptocurrency sector. Blockchain bridges are crucial for resolving these challenges, and this initiative could provide substantial advantages for both Polkadot and Cardano.

Since their inception, Polkadot and Cardano, created by Ethereum co-founders Gavin Wood and Charles Hoskinson, have made significant technical advancements and seen user growth. This new interoperability effort is expected to further enhance the utility of both blockchains, especially with upcoming major upgrades set to transform their ecosystems.

Community Reaction

The initial community reaction to the proposal has been largely positive. Polkadot Head Ambassador Tommi Enenkel, also known as Alice and Bob, commented on the feasibility of building the bridge. 

Providing advice on how the bridge might be built, Enenkel advocated for the most direct method, saying, 

“For the Polkadot->Cardano direction, I believe the most straightforward approach would be to verify Beefy proofs on a contract on Cardano L1.”

Market Data

According to CoinMarketCap data, DOT is currently trading at approximately $5.71, reflecting a 1.26% decrease over the past 24 hours. ADA has dropped by 2.52% over the same period and is currently priced at around $0.379. The Polkadot community's active participation in governance is evident from the 91 referendums conducted in May, with 56 passed and 22 rejected. This level of involvement highlights the community's enthusiasm for OpenGov.

Related Developments

This proposed bridge follows the recent activation of SnowBridge, a Polkadot-Ethereum bridge, on June 20. SnowBridge uses first-party signatures from Polkadot and Ethereum validators, ensuring a transparent, permissionless, and auditable process. The first version of this bridge enables ERC20 asset transfers between the two networks, with multiple parachains and wallets expected to support it. 

SnowBridge is anticipated to increase interactions and introduce new assets from Ethereum to the Polkadot ecosystem. Future plans include enabling arbitrary messaging and potentially launching a liquidity program.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

There are many ways to make money, but making money with money is the most efficient way to make money.

Finance is the industry of making money with money. However, finance and bubbles are like twin brothers. Where there are financial products, there are bubbles. In the eyes of ordinary people, bubbles are risks, so ordinary people always feel that finance is far away from them. For financial players, bubbles are opportunities. They will swim in bubbles and make a lot of money from them.

If you let people who are good at making money in bubbles work for you, do you have the ability to "make money with money"? Crypto enthusiasts' innovative business has made "making money with money" suitable for everyone (not just the rich). As long as you are willing, $100 can let Crypto enthusiasts help you start your "making money with money" journey.

Crypto Enthusiasts is the world's top cryptocurrency staking company, founded in November 2018 and headquartered in Fort Myers, FL, with more than 8 million members worldwide. Since its establishment, the company has been focusing on the cryptocurrency staking business. At present, the company not only has the world's most advanced encryption technology, but also deploys the world's most advanced validators and professional technical teams.

What is the innovative business of Crypto enthusiasts?

It is an innovative way to play cryptocurrency. That is, participants do not purchase any equipment, do not need professional knowledge or technology, but can pledge a certain amount of cryptocurrency through Crypto enthusiasts and participate in the ranks of cryptocurrency staking rewards. Crypto enthusiasts use professional financial means to deal with various risks such as cryptocurrency price fluctuations and the number of rewards, make money from the cryptocurrency staking world, and return it to participants with a fixed rate of return.

How does Crypto enthusiasts ensure the return rate of participants?

Crypto enthusiasts has obtained nearly US$3.8 billion in investment funds from more than 8 million people around the world through innovative crypto staking contracts. Enthusiasts is the world's strongest investment potential

Accepting the supervision of the US Financial Services Administration---FINRA, these funds are used by Crypto enthusiasts to deploy cryptocurrency staking technology, thus creating the world's largest crypto staking system of Crypto enthusiasts.

On June 21, 2024, based on the current total number of Ethereum staked of 33,215,233, our company's total staked amount is 1,162,600, accounting for about 3.5% of the total staked amount. Starting from May 17, 2023, the block input of Ethereum is about 30 seconds, that is, a new block can be generated every 15 seconds, and the reward for each new block is 2 Ethereum. The average reward of the validator = the validator's effective balance * [64/(4*the total number of Ethereum staked by all validators)].

Therefore, our company's average reward every 15 seconds on Ethereum = 1162600*[64/(4*33215233)]=1162600*0.00000048=0.558048

Average reward every 24 hours = 4*0.558048/minute*60 minutes*24 hours=3214.35648 (about $9756054)

This is the amazing speed at which Crypto enthusiasts make money every day. This is the guarantee of the return rate of participants.

This is the guarantee of participant rate of return.

How much does it cost for Crypto enthusiasts to help you make money with your money?

You can make money by registering. Because you will get $100 when you sign up, and you can also get 0.05 daily interest income by signing in every day.

2. Earn more by buying crypto contracts.

2. Buy crypto contracts to make more money. Crypto enthusiasts has launched a variety of pledged crypto contracts with a daily interest rate of up to 3%.

For example, the following contracts pay interest daily:

Free trial for liquidity staking

Staking Time 1 Days Capital Back Yes Daily Rewards $0.05 Staking Price 100.00$

Ethereum Liquidity Staking

Staking time 2 days Capital return Yes Daily reward $1.5 Total reward $3

Staking price 100.00$

VeChain Liquidity Staking

Staking time 3 days Return of principal Yes Daily reward 6 USD Total reward 18 USD Staking price 500$

Hedera Liquidity Staking

Staking period 7 days Return of principal Yes Daily reward 39 USD Total reward 273 USD Staking price 3000$

NEAR protocol liquidity pledge

Pledge period 14 days Capital return Yes Daily reward 81 USD Total reward 1134 USD

Pledge price 6000$

(The value of the pledge contract is different, the investment amount and period are different, and the income is also different. For more contracts, please log in to Crypto enthusiasts Official website)

Investment case: With an investment of $10,000, you can purchase a contract worth $10,000 for Cardano Liquidity Staking + 15-day period. The daily interest rate of this contract is 1.4%.After the purchase, the amount of passive income you can earn every day = $10,000*1.4%=$140.After 15 days, your principal and profit = $10,000 + $140*15 = $10,000 + $2,100 = $12,100

Want to earn more?

Crypto enthusiasts has another way to make money: the affiliate program.

Invite friends to Crypto enthusiasts to make money together, and you can get a cash reward of 3%-4.5% of their investment; if friends invite friends to invest, you can also get a cash reward of 1.5% of their investment.

For example, if you invite some friends to Crypto enthusiasts to make money, and they invest $300,000, then you will get a cash reward of $9,000. If your friend invites some people and they invest $100,000, you will also receive a cash reward of $1,500.

Warm reminder: Investment is risky, so be cautious when entering the market. Crypto enthusiasts' innovative business has been imitated by some companies after its launch, and even used to create scams. Please be careful to identify it.

If you want to participate in our money-making business, please operate through our official website https://itenthusiasts.com or download our mobile APP, download address: Google Play or Apple Store

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

 

BlockDAG is capturing headlines in the cryptocurrency realm with its revolutionary DAG-based technology, surpassing heavyweights like Kaspa. The project recently celebrated a significant milestone, securing $54.3 million in its presale, which has sparked both acclaim and debate. A popular YouTube video now provides an in-depth analysis of its whitepaper, adding weight to its credibility.

Amid these developments, the altcoin sector remains vibrant. Injective is experiencing substantial growth, marked by a sharp price increase, while Notcoin faces challenges despite robust community support.

Notcoin Faces an Unexpected 15% Decline

Notcoin, a popular meme coin and gaming platform on the TON blockchain, has recently suffered a surprising 15% drop in its market value. This downturn followed a positive announcement regarding the decentralization of its smart contract management. 

Nonetheless, the cap on NOT coins remains fixed at just over 102 billion, ensuring no further coins will be minted. The market showed a mixed response, with decreased trading volumes but continued strong support from its community, who view Notcoin as a resilient "community token."

Injective Surges, Breaking Key Resistance Levels

Injective has been on an upward trajectory, bolstered by favorable technical analysis that identifies it as an attractive investment opportunity. In the past year, Injective's price has skyrocketed by 300%, significantly benefiting long-term investors. Increased trading volumes suggest rising market interest. 

Although it is trading below its 200-day average, Injective has recently crossed the crucial $28 resistance point. This milestone is setting up expectations for a potential rise to $50 in the upcoming June bull market.

BlockDAG's Dominance Confirmed by Crypto Specialists

In a brief period, BlockDAG has climbed to the top of the presale charts, attracting significant investment and attention through its innovative DAG structure. This system allows for the processing of multiple blocks at once, greatly increasing transaction speeds and improving the efficiency and robustness of the network.

Despite some media skepticism, prominent figures in the crypto industry have endorsed the project. A trending video by Crypto Bull thoroughly examines BlockDAG's whitepaper, highlighting how its unique DAG setup addresses scalability issues inherent in traditional blockchain systems.

The launch of Team DOX has greatly increased investor confidence. With a successful $54.3 million from the presale and a goal of reaching $600 million, BlockDAG has drawn extensive global investment. The team's frequent updates and transparent roadmap reflect their ongoing dedication to growth and openness.

BlockDAG is also transforming the crypto mining scene by making it more accessible and rewarding, especially for newcomers. This approach helps build community engagement and loyalty, encouraging users to actively participate and spread their excitement for the platform.

Final Insights

As Injective climbs and Notcoin addresses its challenges, BlockDAG stands out with its impressive $54.3 million presale achievement and strong market potential. Endorsements from crypto analysts have verified BlockDAG as a credible presale, with forecasts suggesting it could reach a $30 valuation and outpace rivals like Kaspa. Currently positioned in batch 19 at $0.014, BlockDAG offers an excellent investment opportunity.

Read About BlockDAG:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.