Headlines
Binance's global user base has exceeded 200 million, and it only took 2 years to grow from 100 million to 200 million
At 23:58 on the evening of June 8 (GMT+8), the number of registered users of the Binance platform worldwide has exceeded 200 million. Richard, CEO of Binance, said: "We are very honored to announce that Binance has welcomed 200 million registered users and the number is still growing. This achievement is a reflection of the continued trust of the crypto community and industry participants in the Binance ecosystem. We will cherish this trust - as a user-centric platform, we are always committed to prioritizing the needs of our growing user base. This milestone is not only a victory for Binance, but also a sign of strong growth and maturity of the entire crypto industry. Binance's rapid growth from 100 million to 200 million users in just 2 years amid difficult market conditions shows that the entire crypto industry is transforming. In this process, cryptocurrencies have achieved a transition from 'early adopters' to 'early majority', indicating that more and more of the global population is beginning to accept cryptocurrencies and their endless possibilities. Looking ahead, Binance's focus remains on leading the way in promoting financial inclusion and innovation initiatives. As the industry moves towards the common goal of attracting the next billion users, Binance's firm commitment to promoting sustainable growth within the crypto ecosystem becomes even stronger. This industry evolution is an exciting journey and we are grateful to be leading the way."
Trump promotes himself as the “Crypto President” at event
According to Reuters, Trump promoted himself as the "cryptocurrency president" at a tech fundraiser in San Francisco.
U.S. non-farm payrolls in May were 272,000, expected to be 185,000, and the previous value was 175,000
The seasonally adjusted U.S. non-farm payrolls in May were 272,000, compared with expectations of 185,000 and the previous value of 175,000.
Industry News
Analysis: Institutions have built a $6.9 billion net short position in MicroStrategy
According to Fintel analysis, according to the list of the largest short positions disclosed by institutions to the SEC, institutions have established a net short position of $6.9 billion in MicroStrategy, ranking first among crypto-related companies, accounting for 23.14% of its market value. This high percentage indicates strong bearish sentiment or hedging. If market conditions change, a short squeeze may occur. In addition, Coinbase's net short position is $1.1 billion and Marathon's net short position is $100 million.
Animoca Lianchuang: Hong Kong may add staking services to Ethereum spot ETF this year
Animoca Brand co-founder Yat Siu said that Hong Kong may add staking services to Ethereum spot ETFs this year, and asset management companies of existing spot Ethereum ETFs and potential issuers are exploring this possibility. According to an executive, HashKey is preparing a draft proposal to review staking.
Bitfinex: Bitcoin bull market cycle may peak in the fourth quarter and reach a peak of $120,000
Analysts at cryptocurrency exchange Bitfinex predict that the current Bitcoin bull cycle may peak in the fourth quarter of 2024. Analysts said that historical data shows that Bitcoin usually reaches a new all-time high (ATH) a few months after the halving event, so the predicted market top may appear around the fourth quarter of 2024. Bitfinex analysts predict that in the current cycle, based on on-chain indicators and historical patterns, Bitcoin is expected to peak at at least $120,000 in this cycle.
Citigroup: Forecast for the first Fed rate cut changes from July to September
According to market news, Citigroup changed its forecast for the first Fed rate cut from July to September. As one of the few Wall Street banks that believed the Fed would cut interest rates next month the day before, Citigroup changed its view after the US released stronger-than-expected May non-farm payrolls data and postponed the expected time to September. Economists led by Andrew Hollenhorst's new forecast is that there will be three rate cuts this year, in September, November and December. The previous forecast was that each meeting from July to December would cut interest rates by 25 basis points. As of this week, at least six other Wall Street banks predicted that the Fed would cut interest rates in September, and at least four believed that it would cut interest rates in December.
Bitcoin Lightning Network Capacity Exceeds $350 Million, Sets Record High
According to data disclosed by Bitcoin Magazine, the capacity of Bitcoin Lightning Network has exceeded 350 million US dollars, setting a record high. According to 1 ml data, the current capacity of Bitcoin Lightning Network has reached 4,963.16 BTC, worth approximately 353,907,125.37 US dollars, with 13,650 nodes and 52,050 channels.
The total market value of stablecoins exceeds 170 billion US dollars, and USDT’s market share reaches 65.79%
DefiLlama data shows that the total market value of stablecoins is now $170.811 billion, a 7-day increase of 6.4%. In addition, the total market value of USDT is now $112.376 billion, with a market share of 65.79%.
Wintermute CEO: Ethereum leaders are caught in a “major conflict”
Wintermute CEO Evgeny Gaevoy said on the platform that if Ethereum fails in the future, it will not be because of technical flaws compared to competitors such as Solana. Instead, the core problem is the contradiction of Ethereum's leadership. Evgeny Gaevoy said that Ethereum's leaders are trying to create a capitalist blockchain system while solving social problems, but this is inherently contradictory. Either build capitalism or plan socialism, but you can't have both.
Project News
Starknet: Will not create a new dedicated token on Bitcoin, will focus on expanding the execution layer of Bitcoin and Ethereum
Starknet clarified Starknet’s entry into the Bitcoin extension layer on the X platform: “Starknet will continue to focus on Ethereum’s expansion. Since the launch of Starknet, our goal has remained the same, that is, to develop STARK proofs to enhance the scalability and integrity of the blockchain we believe in. No new layer (Layer) or new dedicated tokens will be created on Bitcoin. Instead, Starknet will try to expand the execution layer of both Bitcoin and Ethereum. Its security, governance, and ecosystem will be driven by the STRK token.”
io.net founder resigns as io.net CEO, effective immediately
The founder of io.net said on the platform that he would resign as CEO of io.net, effective immediately. He also said that io.net has grown into one of the fastest growing decentralized AI companies in the world. After careful consideration, it was decided to hand over the position of CEO to Tory Green, which is in the best interests of the community and the project. At the same time, he emphasized that resigning as CEO is to allow io.net to move forward without interference and focus on the company's development and success. In addition, to express gratitude to the team, partners and community, he will donate 1 million $IO he owns to io.net's GPU Internet Foundation to help develop the ecosystem.
zkSync: v2 4 mainnet deployment completed
zkSync announced on the X platform that the v2 4 mainnet deployment has been completed.
BEVM launches new incentive plan, which will provide $60 million worth of incentives to outstanding projects and users
BEVM launched a new incentive program, BEVM Visionary Builders (BVB), which aims to promote the development of 17 tracks such as DEX, lending, and stablecoins. Through community participation and multi-dimensional evaluation, it will provide incentives worth $60 million to outstanding projects and users.
Taiko: DaikoDEX has been removed from the ecosystem page
Taiko posted a message on the X platform to remind that participation in any public chain is permissionless, but you need to be careful. Due to worrying behavior, Taiko has removed DaikoDEX from our ecosystem page. Safety is the top priority, users please be cautious and vigilant.
Justin Sun’s current investment in Pendle has grown to 53,900 ETH, with a total value of $205 million
According to @ai_ 9684 xtpa monitoring, in the past half hour, Justin Sun spent 9,900 ETH to buy ether.fi PT expiring on June 27, worth 37.69 million US dollars. As of now, the funds invested by Justin Sun in Pendle have grown to 53,900 ETH, with a total value of 205 million US dollars.
Grand Base announces new token economics: total 25 million tokens, 40% for restart airdrop, 26.88% for community airdrop
Grand Base, the RWA market of Base Ecosystem, recently announced new token economics and will release new contract restart tokens. The total supply and final supply of the new tokens are set at 25, 000, 000. Compared to the old token economics, this means a 50% reduction in the number of tokens, which are distributed as follows: - 6,720,000 tokens are used for community airdrops (accounting for 26.88%), especially for former liquidity providers who suffered losses; the vesting period is 12 months, 0% is unlocked at the TGE, and 5% of the total allocation is unlocked every month; - 10,000,000 tokens (accounting for 40%) will be distributed for the protocol restart airdrop according to the snapshot; the vesting period is 3 months, 16.65% is unlocked at the TGE, and then unlocked weekly; - 4 million tokens (accounting for 16%) will constitute the treasury to provide sufficient resources for future initiatives and the sustainability of the ecosystem; the vesting period is 12 months, of which 10% is unlocked at the TGE, and 10% of the total allocation is unlocked every month; - 3,000,000 tokens (accounting for 12%) are reserved for the Grand Base team; the vesting period is 12 months, and the TGE There will be no initial unlock and no monthly unlocks; - 1,180,000 tokens (4.72%) will be distributed to MEXC holders, the total amount of tokens will be minted and sent to MEXC members responsible for performing automatic swaps to facilitate this distribution; 100% unlocked at TGE; - 100,000 tokens (0.4%) will ensure initial liquidity paired with USDC on Aerodrome; 100% unlocked at TGE.
Friend.Tech: Plans to migrate from Base to Friendchain network
Web3 social network Friend.Tech has announced plans to migrate from the Base network to the Friendchain network developed in partnership with Conduit. Users will be kept informed of the migration timeline “in the coming months” as blockchain development progresses.
Security Risk
More than 32,000 users lost more than $42 million to phishing scams in May
According to Scam Sniffer, in May this year, more than 32,000 users lost more than $42 million due to phishing scams.
Orbit Chain hackers have transferred 12,932 ETH in the past 10 hours and laundered the money through Tornado Cash
According to Ember’s monitoring, the Orbit Chain hacker has transferred 12,932 ETH (worth $47.58 million) in the past 10 hours and completed the money laundering through Tornado Cash. The hacker’s address currently holds 13,821 ETH ($50.86 million) and 20 million DAI.
