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#Write2earn Congressman Mike Collins Sparks Velodrome Surge with 100,000 VELO Token Purchase $velo #VELO #VelodromeFinance #Velodrome #CryptoPolitics Velodrome sees a trading surge after U.S. Congressman Mike Collins buys 100,000 VELO tokens, becoming the first politician to engage with the cryptocurrency. Velodrome Finance operates on the Optimism network, using VELO for rewards and governance. Collins' move boosted trading volume by 67% to $2.4 million in 24 hours. VELO's price, initially at $0.13, now sits at $0.09653, showing a 4.33% dip but hinting at potential recovery amid broader crypto trends.

#Write2earn

Congressman Mike Collins Sparks Velodrome Surge with 100,000 VELO Token Purchase
$velo #VELO #VelodromeFinance #Velodrome #CryptoPolitics


Velodrome sees a trading surge after U.S. Congressman Mike Collins buys 100,000 VELO tokens, becoming the first politician to engage with the cryptocurrency. Velodrome Finance operates on the Optimism network, using VELO for rewards and governance. Collins' move boosted trading volume by 67% to $2.4 million in 24 hours. VELO's price, initially at $0.13, now sits at $0.09653, showing a 4.33% dip but hinting at potential recovery amid broader crypto trends.

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#Write2earn Crypto Market Faces Over $400 Million in Liquidations Amid Token Decline #DogeCoin #Doge #Liquidation $DOGE In the last 24 hours, over $400 million in crypto long positions were liquidated as major tokens dropped up to 10%. Dogecoin Takes a Hit Dogecoin (DOGE) futures faced harsher losses than Bitcoin (BTC). DOGE saw $60 million in long trades liquidated, with its price falling over 10% before a brief recovery during Asian trading hours. The broader CoinDesk 20 Index (CD20) dropped 3.4%. Liquidations Across Cryptos Bitcoin long bets lost $47 million, while ether (ETH) saw $76 million in losses. Crypto longs overall faced $440 million in liquidations, driven by profit-taking and a stronger dollar. DOGE Liquidation Breakdown Almost all DOGE liquidations were from long positions, with only $600,000 in short positions liquidated. This marks the highest DOGE futures liquidations since May 2021, with over $44 million on Huobi, popular with Asia-based traders. Open interest in DOGE futures fell 16% to $600 million, with a bearish long-short ratio of 0.94. Understanding Liquidations Liquidation happens when an exchange closes a trader's leveraged position due to insufficient margin funds, leading to a partial or total loss of the initial margin. Conclusion The recent liquidations underscore the high volatility and risks of leveraged trading in the crypto market, especially amid significant market and economic shifts.
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#write2earn Hamster Kombat Claims 140 Million Users on TON Blockchain Rapid Growth #HamsterKombat #TelgramGame #TapToEarn #Telegram Hamster Kombat, a "tap-to-earn" game on Telegram’s TON blockchain, reports nearly 150 million users. It reached 100 million users faster than WhatsApp, Instagram, and TikTok, boasting over 20 million YouTube subscribers and 36 million Telegram subscribers. Skepticism Over User Numbers Despite impressive stats, some experts, like Dovey Wan of Primitive Ventures, are skeptical, suggesting the growth might be due to "industrial farming," where users create multiple accounts to exploit rewards. Click-to-Earn Popularity Click-to-earn games are rising, with Hamster Kombat following Notcoin's success. Notcoin's market cap surged from $700 million to $2.6 billion in weeks, attracting airdrop farmers and increasing TON’s active wallet addresses. Upcoming Token Event Hamster Kombat’s token generation event (TGE) in July has heightened interest. Users currently join through Telegram, collecting coins by tapping a hamster. Players can earn coins, level up, and refer friends, eventually claiming on-chain tokens by connecting a TON-compatible wallet. Conclusion Hamster Kombat’s user numbers are notable but warrant critical evaluation, as incentives might skew data. The July TGE will be a key event for the game's future.
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#Write2earn FTX Victims Seek Return of $8 Billion in Assets #FTX #FTXRecovery $FTT Attorneys for FTX bankruptcy victims are pushing for the failed crypto exchange's forfeited assets, worth around $8 billion, to be returned to customers, not absorbed into the bankruptcy estate. This plea was made in a U.S. District Court filing in New York. Reorganization Plan Sparks Outrage FTX's proposed reorganization plan, offering 98% of creditors 118% of their claims in cash within 60 days, has angered customers. They couldn't benefit from rising cryptocurrency prices while their funds were tied up. Unfair Valuation Claims Lawyers argue that valuing customer claims based on depressed prices during the "crypto winter" is unfair. Since then, Solana's price has increased ninefold and Bitcoin's value has quadrupled. Customer Grievances and SBF's Role Lawyers Adam Moskowitz and David Boies say customers feel "aggrieved and robbed," viewing the process as a "second act of theft." Former CEO Sam Bankman-Fried (SBF) was convicted of fraud, sentenced to 25 years, and ordered to forfeit $11 billion. The filing claims SBF's crimes left customers without their crypto investments. Bankruptcy Code and Prioritization The bankruptcy code prioritizes certain creditors, placing FTX’s FTT token holders near the bottom, making compensation unlikely for them. Ongoing Uncertainty Complete accounting hasn't been done yet, but Moskowitz estimates damages over $8 billion. The fluctuating value of cryptocurrencies adds to the uncertainty.
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#Write2earn Crypto Market Update #CryptoMarket #Bitcoin #Etereum #altcoins $ETH $DOGE $BNB The absence of short-term catalysts is likely weighing down token prices, according to one trader. Major cryptocurrencies experienced declines, influenced by ongoing profit-taking and significant net outflows from U.S.-listed bitcoin exchange-traded funds (ETFs) on Monday. This has put a damper on bullish sentiment. Key Movements in Major Tokens Bitcoin (BTC): Dropped to nearly $66,500, erasing all gains made on Monday. It has been fluctuating around the 50-day moving average of $66,000, challenging the medium-term uptrend. Ether (ETH): Fell to $3,400, undoing all gains from the previous week. Dogecoin (DOGE) and Solana (SOL): Both saw significant losses, with DOGE and SOL dropping as much as 9% over the past 24 hours, according to Coinmarketcap. Ton Network (TON): Declined by 5%. BNB Chain (BNB): Outperformed with a smaller loss of just 1.5%. Recent Market Influences Last week, Bitcoin dipped below the $65,000 mark for the first time in a month. This decline was linked to ETF net outflows exceeding $500 million and the Federal Reserve's indication of only one interest rate cut in 2024. Ethereum and Altcoins FxPro senior market analyst Alex Kuptsikevich noted generally bearish sentiment. Although positive developments regarding Ethereum ETFs briefly boosted ETH by over 6% last Friday, it has since lost nearly 1.5% since Monday morning. "Ethereum's brief recovery under optimistic ETF expectations didn't sustain," Kuptsikevich commented. "Increased liquidity during weekdays tends to favor bears, heightening selling interest." As the market navigates these challenges, traders remain cautious, closely monitoring political and economic developments that could impact future movements in the cryptocurrency sector.
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#Write2earn Supreme Court to Review Nvidia Securities Fraud Case #Nvidia #NvidiaLawsuit #CryptoLegal Nvidia Faces Legal Challenge The U.S. Supreme Court will review a securities fraud lawsuit against Nvidia, accused of misleading investors about its cryptocurrency involvement. This follows a lower court's decision to revive the class action filed by shareholders in California. Case Background Nvidia, boosted by the AI boom, saw its chips gain popularity for cryptomining in 2018. The plaintiffs, led by Swedish firm E. Ohman J Fonder AB, allege that Nvidia and CEO Jensen Huang downplayed crypto-related revenue in 2017-2018, violating the Securities Exchange Act of 1934. Legal Proceedings Initially dismissed in 2021, the case was revived by the 9th U.S. Circuit Court of Appeals, which found that Huang may have knowingly made misleading statements. Nvidia has appealed to the Supreme Court, fearing "abusive and speculative litigation." Previously, Nvidia settled related charges for $5.5 million. Supreme Court Involvement The Supreme Court will hear Nvidia's appeal alongside a similar case involving Meta's Facebook, both slated for the next term starting in October.
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