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To keep Hooked Family members updated, here's the latest development progress as of June 17, 2024✨
https://medium.com/@HookedProtocolOfficial/bi-weekly-update-june-17th-2024-640209fc754c

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Ethereum Foundation Transfers 92,500 ETH That Hasn’t Moved, Raising Speculation About a Strategy Change On July 25, a wallet associated with the Eth Foundation made headlines after it transferred 92,500 ETH, worth around $294.9 million. The wallet had been inactive since 2017, raising questions about the motivations behind this large movement of money. According to Lookonchain’s on-chain data, these tokens were initially acquired from the Eth Foundation on September 1, 2015. The transfer followed a small transaction of just 1 ETH from the same wallet, further fueling curiosity. Currently, the Ethereum Foundation has made no official announcement about this large transfer. In the past, the Foundation has typically sold large amounts of ETH during bull market periods to take advantage of peak prices. The lack of such sales in the current cycle has led analysts to speculate about possible changes in market strategy. Given the current volatility of the cryptocurrency market, this unexpected move could signal a significant change in the Foundation’s approach or could be a sign of upcoming market developments. This transfer comes at a time when Ethereum is experiencing significant price volatility. On July 25, Ethereum’s price fell by 10%, with spot Eth ETFs seeing $133 million in outflows on their second day. This dramatic drop caused ETH’s value to drop from around $3,500 to $3,130. However, the token has since recovered somewhat and is trading at $3,266, reflecting a 3% increase in 24 hours. Historical data suggests that the Ethereum Foundation has been strategic in timing its large-scale sales with market peaks, but recent market dynamics may indicate that this approach is being reconsidered. The recent movement of 92,500 ETH from the Ethereum Foundation’s wallet has generated significant speculation and interest in the crypto community. While the exact reasons for this transfer have not been disclosed, the historical context of the Foundation’s strategic sales and current market conditions suggest that it may be a precursor to later market activity

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Elon Musk’s X Platform Removes Bitcoin Hashmoji, Community Revolts The removal of BTC hashmoji by the X platform has sparked a wave of curiosity and discussion among crypto enthusiasts. The DOGE team and X insider DogeDesigner confirmed the change, stating that only the Bitcoin hashtag remains functional. Despite widespread speculation, no concrete explanation has been given as to the reasons for the change, leaving the crypto community in a state of shock. The removal of Bitcoin hashmoji did not go unnoticed. Influential figures such as JAN3 CEO Samson Mow, early Bitcoin advocate Jeremy , and trader @TheMoonCarl weighed in on the matter. Their reactions ranged from bewilderment to critical analysis, reflecting the broader sentiment within the community. The removal of hashmojis appears to be a universal practice across a variety of cryptocurrencies, adding another layer of curiosity. Elon Musk’s electric vehicle company Tesla still holds a significant amount of Bitcoin. According to Tesla’s Q1 2024 earnings report, the company still holds $184 million worth of Bitcoin. This is significantly down from the original $1.5 billion purchase in February 2021. This decision, which initially sent Bitcoin’s price to record highs, has Tesla continuing to hold Bitcoin on its balance sheet, despite the suspension of Bitcoin for vehicle payments due to environmental concerns. Tesla’s continued BTC holdings, despite their decline, show a cautious but sustained interest in the cryptocurrency market. By holding this asset, Tesla not only gains exposure to Bitcoin’s long-term potential, but also maintains its interest in the digital currency space. This approach takes a nuanced stance on institutional cryptocurrency investment, balancing environmental concerns with financial strategy. By focusing on legal, regulated payment systems, X aims to solidify its role in the digital financial ecosystem without the complexity of issuing a new cryptocurrency. Musk’s approach favors integrating established financial mechanisms rather than developing new digital assets.

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🚨 The US State Pension of Michigan announced that it invested $6.6 million in spot Bitcoin ETFs.

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U.S. Senator Bill Hagerty to Introduce Pro-Bitcoin Bill Amid 2024 Bitcoin Conference Excitement During the Nashville Bitcoin Conference 2024, U.S. Senator Bill Hagerty announced his intention to introduce pro-Bitcoin legislation, which has sparked significant discussion in the market. Senator Hagerty’s announcement highlights Bitcoin’s rising prominence in the political arena, a sentiment he echoed in a video he shared on social media. Hagerty’s move is seen as a clear sign of the growing awareness of Bitcoin and cryptocurrencies in Washington, D.C. In his announcement, Senator Hagerty emphasized his commitment to supporting the crypto industry by crafting legislation that aligns with the core values of freedom and opportunity. His role on the Senate Banking Committee puts him in a strategic position to advocate for such legislation. “Bitcoin and the crypto industry have become key issues in Washington, D.C. I am fighting to pass pro-Bitcoin and pro-crypto legislation,” Hagerty said, reflecting his proactive stance. The political support shown by leaders like Senator Hagerty underscores the growing legitimacy of Bitcoin. The Nashville #Bitcoin Conference has been a focal point for this support, with discussions with prominent attendees including former US President Donald #Trump . The event’s significance is further heightened by speculation and statements from industry insiders, highlighting Bitcoin’s potential as a strategic asset. Senator Hagerty’s proposed legislation could be a critical turning point for the cryptocurrency industry, accelerating mainstream adoption and investment in digital assets. The move aligns with a broader trend in which political figures from both parties recognize the potential of cryptocurrencies to revolutionize the financial system. Collaboration with other legislators and key industry players indicates strong bipartisan support that could drive significant policy developments. $BTC $ETH $BNB

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🚨 It was claimed that the Kamala Harris team will show an approach to the crypto sector.

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