NFT sales drop 16%, hover just below $122m This week marked | crypto news reporter a Binance Square-en

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NFT sales drop 16%, hover just below $122m
This week marked a significant downturn for the non-fungible token (NFT) market, which saw sales drop by almost 16% off the back of a 17% surge in the previous week. 
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FTX customers to vote on bankruptcy repayment plan A U.S. judge approved FTX’s plan to poll creditors on its Chapter 11 repayment. FTX users will soon have the opportunity to vote on the proposed multibillion-dollar plan to pay back individuals whose funds were trapped on FTX since its collapse. Judge John Dorsey of the District of Delaware is allowing FTX advisers to seek customer votes on their Chapter 11 plan. If approved, this plan will repay customers and address government penalties related to the collapse of Sam Bankman-Fried’s crypto business. Repayment Creditors have the power to influence restructurings through Chapter 11 voting, and while FTX’s plan is supported by key committees representing customer interests, there is opposition from a vocal contingent demanding major changes. According to Bloomberg, the majority of FTX clients are set to receive 119% of their holdings on the day the company filed for Chapter 11 in November 2022. Court documents suggest that other creditors may reclaim as much as 143% of their owed amounts.

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Solana sheds $7b in 7 days: Is the crypto bull run over? Memecoins powerhouse and major L1 blockchain network Solana lost billions in market cap on Monday, as the whole crypto market slid down over 4%. Solana (SOL) lost roughly $3 billion in value and retraced to around $128, down 10% in the past seven days and around 50% away from its all-time high (ATH) set during the previous 2021 peak. Other major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), BNB, XRP, Toncoin (TON), and Dogecoin (DOGE), also declined as much as 10% in the last week amid a broad market downturn. The crypto fear and greed index notched a neutral level at around 51 for the first time in over a month. In other words, general crypto sentiment is uncertain about the market’s trajectory, whether bullish or bearish #CryptoPCEWatch #CryptoTradingGuide #Megadrop #BinanceTournament

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Understanding Crypto Airdrops: A Beginner's Guide In the dynamic world of cryptocurrencies, "airdrops" have emerged as a popular method for distributing tokens to a wide audience. But what exactly are crypto airdrops and how do they work? What are Crypto Airdrops? Crypto airdrops refer to the distribution of free tokens or coins to the wallets of certain cryptocurrency holders. This method is often used by blockchain projects to bootstrap their community, increase awareness, and distribute tokens fairly among potential users. How do Airdrops Work? Types of Airdrops: Standard Airdrops: These are straightforward distributions where tokens are sent to eligible wallets based on specific criteria, such as holding a certain amount of a particular cryptocurrency. Hard Fork Airdrops: Occur when a blockchain undergoes a protocol upgrade or split (fork), resulting in holders of the original cryptocurrency receiving tokens from the new chain. Bounty Airdrops: Participants perform tasks like social media actions or referrals to earn tokens. Holder Airdrops: Reward holders of a particular cryptocurrency with tokens of a newly launched project. Examples: In 2017, OmiseGO distributed tokens to Ethereum holders. Bitcoin Cash emerged from a hard fork of Bitcoin, granting Bitcoin holders an equivalent amount of Bitcoin Cash. Strategies to Find and Participate: Stay Informed: Follow crypto news sources, social media channels, and community forums where airdrop announcements are often made. Join Projects Early: Participate in ICOs (Initial Coin Offerings) or token presales where airdrops may be part of the incentives. Wallets and Exchanges: Some wallets and exchanges announce support for upcoming airdrops, making it easier to participate. Community Engagement: Active participation in project communities or completing tasks in bounty programs can increase chances of receiving airdrops. #AirdropGuide

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Binance lists Zksync (zk) with token giveaway amid airdrop controversy Crypto exchange Binance announced the listing of Zksync (ZK) trading pairs and a token distribution program aimed to alleviate community concerns about the token airdrop. Starting at 10:00 (UTC) on Jun. 17, the ZK token will be available for spot trading on Binance in pairs against Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD), and the Turkish Lira . The exchange encouraged users to deposit ZK for trading, with withdrawals becoming available the following day. Additionally, Binance revealed plans for a token giveaway program, intending to allocate 10.5 million tokens to approximately 52,000 users. To be eligible for the Binance ZK token distribution scheme, users must have conducted a minimum of 50 ZKsync Era transactions between February 2023 and March 2024, spread over at least seven different months during that period. Binance mentioned that those who obtained ZK tokens via the official ZK Nation airdrop program will also be ineligible. ZK will be given to eligible addresses on a first-come, first-served basis, with the first token airdrop scheduled for Jun. 25, according to Binance. #Write2Earn! #Write&Earn

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Advisors ‘cautious’ with Bitcoin ETF adoption, says BlackRock exec BlackRock’s chief investment officer for ETF and index investments, Samara Cohen, has hinted that financial advisors remain “wary” of adopting spot Bitcoin (BTC) exchange-traded funds (ETFs) despite the success recorded by the investment vehicle. Despite attracting over $50 billion in investments since going live in January 2024, Bitcoin ETFs still face a sluggish uptake among financial advisors. According to Cohen, approximately 80% of Bitcoin ETF purchases originate from self-directed investors who have made their own allocation through an online brokerage account. Cohen has highlighted that financial advisors remain cautious of joining the spot Bitcoin ETF bandwagon due to their fiduciary responsibilities to clients. Given Bitcoin’s history of significant price volatility, advisors are rigorously analyzing its role in portfolios and determining appropriate allocations based on investor risk tolerance and liquidity needs.

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