Daily Quotes (June 5, 2024 10:00 AM)

ChainDD's market data on June 5 shows that the combined DD index and CoinMarketCap quotes are:

BTC was at $70,829.51, up about 2.28% in 24 hours;

ETH was at $3,804.13, up about 0.76% in 24 hours;

BNB was at $701.61, up about 11.22% in 24 hours;

DOT was at $7.21, up about 2.65% in 24 hours;

DOGE was trading at $0.1626, up about 2.04% in 24 hours.


Cryptocurrency News

BNB's market value surpasses Starbucks and ranks 170th in global asset market value

According to 8marketcap data, BNB's market value reached 101.75 billion US dollars, with a 24-hour increase of 10.04%, ranking 170th in the global asset market value, surpassing Starbucks (market value of approximately 93.77 billion US dollars, ranked 188th).

In May, the global Web3 financing totaled US$917 million, and Farcaster’s valuation reached US$1 billion

According to statistics from Cailianshe Venture Capital, there were 100 financing events in the global Web3 field in May, basically the same as in April; the total financing amount reached US$917 million, a month-on-month decrease of 5.46%.

In terms of sub-sectors, the blockchain infrastructure track had the largest number and total amount of financing in May. 41 projects in this track received a total of US$498 million. However, the total amount of financing in this track dropped by nearly US$100 million compared with April. The DeFi and CeFi tracks maintained a certain growth in total financing.

From the perspective of institutional investments, Animoca Brands, OKX Ventures and Coinbase Ventures were the top three investment institutions in May. Animoca Brands invested 9 times, 4 of which were in blockchain infrastructure; OKX Ventures invested 5 times, 3 of which were in blockchain infrastructure; Coinbase Ventures invested 4 times, all in blockchain infrastructure.

Among them, there were 19 financings of more than 10 million US dollars in May, including 2 financings of more than 100 million US dollars, namely Farcaster and BitDeer. The details are as follows:

The decentralized social protocol Farcaster announced on May 21 that it had completed a $150 million Series A financing round with a valuation of $1 billion, led by Paradigm, with participation from a16z crypto, Haun, USV, Variant, Standard Crypto, etc. The project said that sufficient funds enabled Farscater to continue iterating developer primitives such as channels and direct messaging, while continuing to focus on growing and retaining daily active users of the protocol.

In addition, BitDeer Technology Group announced on May 30 that it had reached a subscription agreement with Tether International Limited (TEDA) to issue 18,587,360 Class A common shares and purchase up to 5 million warrants at a price of US$10.00 per share. The private placement was completed on May 30, 2024.

Bitdeer intends to use the net proceeds from the private placement to fund its data center expansion, ASIC-based mining equipment development, as well as working capital and other general corporate purposes.

FTX: Plans to pay more than $200 million in taxes to the IRS, not $24 billion

According to a June 3 legal filing, FTX plans to pay the IRS $200 million in priority tax claims and $685 million in subordinate tax claims. Priority tax claims, like taxes, are payments that must be paid before other debts, while subordinate claims are paid only after priority obligations are satisfied.

FTX argued in bankruptcy court that the amount it owed was much less than the $24 billion the IRS claimed. Previously, the IRS claimed FTX owed $44 billion in taxes but later lowered the amount to $24 billion.

The FTX debtors, who were responsible for managing the company during its bankruptcy, believe that the IRS incorrectly included funds misappropriated by Sam Bankman-Fried and other tax liabilities in its calculations. The IRS disagrees with the debtors' arguments and plans to seek huge tax liabilities if no settlement is reached. The objection deadline in the case is June 17, and the hearing date is June 25, 2024.

TON network active addresses increased 228% in the past month

Bloomberg crypto analyst Jamie Coutts said on the X platform that in the past month, TON's active addresses (DAU) have increased by 228% to more than 600,000, which puts it in the second tier of L1 according to this key metric. The network's fully diluted valuation (FDV) is $34 billion.

Coutts commented on this data, saying that the Telegram ecosystem has 800 million DAU. This is an already attracted audience, and as developers build more tools, they will naturally join the chain. This is clearly starting to happen. This is great news for cryptocurrency.

In the past 24 hours, the entire network has liquidated $105 million, and the total market value of cryptocurrencies has risen to $2.784 trillion.

According to CoinGecko data, the total market value of cryptocurrencies is $2.784 trillion, with a 24-hour increase of 2.9%. In addition, BTC has a market share of 50.4% and ETH has a market share of 16.6%.

According to Coinglass data, the entire network had a liquidation of US$105 million in the past 24 hours, of which long positions had a liquidation of US$36.1263 million and short positions had a liquidation of US$68.4520 million.