On Jun 24, 2024, 20:30 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 59,000 USDT and is now trading at 58,844.828125 USDT, with a narrowed 8.06% decrease in 24 hours.

On Jun 24, 2024, 17:49 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,300 USDT benchmark and is now trading at 3,300.48999 USDT, with a narrowed narrowed 4.91% decrease in 24 hours.

On Jun 24, 2024, 17:12 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 60,000 USDT and is now trading at 59,881.621094 USDT, with a narrowed 6.49% decrease in 24 hours.

According to BlockBeats, Solana's decentralized exchange (DEX) Jupiter has launched Swap V3 on June 25. The new version comes with a host of advanced features, powered by its Metropolis liquidity backend. These features include instant routing, dynamic slippage, intelligent token filtering, and ecosystem token lists.

Swap V3 aims to improve the overall user experience by offering instant routing. This feature allows users to find the best possible trading route in real-time, enhancing the efficiency of transactions. Additionally, the dynamic slippage function helps to minimize the price impact of large trades, thereby reducing the risk of significant price movements during the transaction process.

The intelligent token filtering feature is another notable addition to Swap V3. It enables users to filter out tokens based on their preferences, making it easier to manage their portfolios. Furthermore, the ecosystem token list provides users with a comprehensive list of tokens within the Solana ecosystem, facilitating easier navigation and discovery of new tokens.

The launch of Swap V3 is a significant development in the Solana ecosystem, offering users a more efficient and user-friendly trading experience. It is expected to further strengthen Solana's position in the decentralized finance (DeFi) space.

According to CoinDesk, Bitcoin is experiencing a significant decrease in prices, with a drop of over 5% in the past 24 hours, bringing it to its lowest level since early May. This sharp decline comes as the trustee for the now-defunct Mt. Gox crypto exchange announced plans to return more than 140,000 BTC to clients in July. These assets were stolen in a 2014 hack.

The market is currently contemplating the impact of this large amount of Bitcoin being reintroduced in less than a month. To put this into perspective, the number is slightly less than the immediate liquidation of Fidelity's spot Bitcoin ETF, which currently holds 167,375 Bitcoin.

Alex Thorn, head of research at Galaxy, believes that the distribution will cause less Bitcoin sell pressure than the market expects. His research suggests that 75% of creditors will opt for the 'early' payout in July, equating to a distribution of approximately 95,000 coins. Thorn estimates that 65,000 of these coins will go to individual creditors, who he believes may prove more resilient than expected. This resilience is attributed to the fact that these creditors have already resisted years of aggressive offers from claims funds, as well as the capital gains taxes involved, given that Bitcoin's value has increased 140-fold since the bankruptcy.

Thorn also suggests that the majority of partners in the claims funds are high net worth Bitcoin holders looking to increase their holdings at a discount, rather than traders looking for a quick profitable trade.

On Jun 24, 2024, 16:48 PM(UTC). According to Binance Market Data, BNB has dropped below 560 USDT and is now trading at 559.799988 USDT, with a narrowed 4.19% decrease in 24 hours.

According to BlockBeats, on June 25, developers of the meme coin WATER, part of the Solana ecosystem, transferred 844 million tokens to 11 new wallets that had not participated in the pre-sale. These wallets are currently selling WATER, having already acquired SOL worth 2.35 million dollars. The transfer of such a large number of tokens to new wallets indicates a potential shift in the distribution of WATER tokens within the Solana ecosystem. The new wallets are actively selling their WATER tokens, which could potentially impact the market dynamics of the meme coin. The value of the sold tokens, converted to SOL, the native cryptocurrency of the Solana blockchain, amounts to 2.35 million dollars. This development in the Solana ecosystem underscores the active trading and fluidity of meme coins like WATER. It also highlights the potential for new wallets to influence the market dynamics of such coins.

According to PANews, Carole House, a key official who previously provided advice and co-authored President Biden's 2022 executive order on cryptocurrency and digital assets, has returned to the government. House will serve as a special advisor to the White House National Security Council, focusing on 'critical infrastructure policy' and cybersecurity. She expressed her honor to serve again in shaping the future of a secure and trustworthy digital economy.

As House returns to the White House, Biden is striving to strengthen his credibility in the field of cryptocurrency, in response to former President Trump's enthusiastic embrace of the digital asset industry. House recently served as a 'resident executive' for Terranet Ventures, a venture capital firm focused on cryptocurrency. She has extensive government experience, having served as an advisor to the Commodity Futures Trading Commission and the National Security Council.

Dave Grimaldi, executive vice president of the Blockchain Association, a cryptocurrency lobbying group, described House as a 'pragmatic expert'. He believes her pragmatic approach will have a positive impact on the Biden team. House has always moderately supported cryptocurrency, emphasizing its potential in international economic applications, while also stressing the need to strengthen law enforcement.

According to BlockBeats, Alex Thorn, the research director at Galaxy, stated on platform X on June 24 that the final number of tokens distributed in the Mt.Gox bankruptcy case will be less than what people had anticipated. The Bitcoin sell-off triggered by Mt.Gox will be less than expected.

As per Thorn's analysis, Mt.Gox lost about 940,000 Bitcoins, which were worth $424 million at the time. To date, 15% of this amount, or 141,868 Bitcoins, have been recovered. Based on calculations, it is estimated that about 95,000 Bitcoins will be used to pay claims. Of these, approximately 20,000 Bitcoins will be distributed to the claim fund, 10,000 Bitcoins will be allocated to Bitcoinica BK, and the remaining about 6,500 will be distributed to individual creditors. This figure of 6,500 is significantly lower than the 141,868 previously reported by the media. Therefore, the final number of tokens distributed as compensation will be lower than market expectations.

According to BlockBeats, on June 24, an address spent 16,900 SOL (equivalent to $2.1 million) to acquire 612 million WATER tokens, which accounted for 22.71% of the pool, in the same block where liquidity was added. The address then sold all the WATER tokens for 39,279 SOL (approximately $5 million), making a profit of 22,379 SOL (around $2.9 million). The entire process took less than 20 minutes.

The transaction was monitored and reported by Lookonchain. The rapid sale and profit realization highlight the volatile and fast-paced nature of the cryptocurrency market. The address involved in the transaction has not been disclosed. The WATER token involved in the transaction is part of a larger pool of tokens, of which it constituted 22.71%.

This event underscores the potential for significant gains in the cryptocurrency market, but also the risks involved. The speed at which the transaction occurred suggests that the address was likely using automated trading strategies. However, the specifics of the strategy used and the identity of the address remain unknown.

According to BlockBeats, the BLAST token has experienced a significant decrease in its futures price on the Whales Market platform. As of June 24, the futures price of the BLAST token was reported to be $0.0383, marking a 24-hour drop of 25.2%.

In addition to the price drop, information from the BLAST token blockchain indicates that the total volume of the token is 100 billion. This information provides insight into the scale of the BLAST token's presence in the cryptocurrency market.

The significant drop in the futures price of the BLAST token on the Whales Market platform is a noteworthy event in the cryptocurrency market. The 25.2% decrease over a 24-hour period indicates a substantial shift in the market's valuation of the token. The total volume of the BLAST token, as indicated by the blockchain information, further underscores the scale of this event.

This news comes as a reminder of the volatility inherent in the cryptocurrency market. Investors and market watchers alike will likely be keeping a close eye on the BLAST token's performance in the coming days.

According to Odaily, Superposition, a DeFi native L3 project based on Arbitrum One, has launched the first phase of its testnet. The project utilizes the Arbitrum Orbit technology stack and Stylus to provide a low-cost, fast DeFi experience. Its first on-chain DApp is Longtail, a V3 AMM in the Arbitrum ecosystem that follows the centralized liquidity model launched by Uniswap. It is also reportedly the first AMM built on Arbitrum Stylus.

Superposition is constructed by Fluidity Labs and includes an innovative on-chain order book. It focuses on controlling order flow and features faster execution speeds, shared and permissionless liquidity, account abstraction, and zero-fee characteristics. At the same time, it provides returns for liquidity providers and traders.

According to Odaily, Blast has officially announced the launch of the Blast Foundation. This move is part of the transition towards a decentralized governance structure. The governance of the project's Twitter, website, and the Blast protocol is now shifting towards control by the foundation.

The establishment of the Blast Foundation is a significant step in the company's journey towards decentralization. It signifies the company's commitment to a decentralized governance structure, which is increasingly becoming a norm in the digital world.

The foundation will now have control over the project's Twitter, website, and the Blast protocol. This move is expected to enhance transparency and accountability in the project's operations.

In conclusion, the launch of the Blast Foundation is a strategic move by Blast towards embracing a decentralized governance structure. This transition is expected to bring about significant changes in the way the project is managed and operated.

According to Foresight News, Web3 startup accelerator SpringX has announced the receipt of 150 valid applications for its SpringX Solana program. Out of these, 13 projects have been selected by SevenX Ventures, ABCDE, Superteam, and SpringX to join the SpringX Solana Cohort.

The selected projects include AI investment management tool ASPA, 3D dataset JoJoWorld, AI-native game application chain Infinity Ground supported by SVM Rollup, decentralized peer-to-peer cross-chain lending protocol EnsoFi, RWA and loan protocol NxFi, payment infrastructure LINK, Web3 games and DePIN ecosystem Rona, social map platform Trekn, Meme coin prediction market Predify, SocialFi platform xFans, blockchain social entertainment platform jogojogo, on-chain ticketing events and analysis platform ReQuest, and tokenizable computing notebook solution Wysdom.

These projects represent a diverse range of applications and solutions in the blockchain and Web3 space, from gaming and social platforms to financial services and data management tools. The selection of these projects for the SpringX Solana Cohort indicates the growing interest and investment in the development of Web3 technologies.

According to CryptoPotato, a pseudonymous cryptocurrency trader, Teddy, has suggested that Bitcoin's ongoing correction could be nearing its end. Teddy's analysis indicates that the market could see a rally in the coming weeks. If history repeats itself, the bottom for this correction could be around $61,000. Teddy explained that every correction experienced in this Bitcoin bull run has ended on the asset's 21 weekly Exponential Moving Average (EMA). The EMA is an indicator that tracks the price of an asset over time, placing more significance on the most recent data points. Teddy believes that Bitcoin could bottom at $61,000 soon. At the time of writing, Bitcoin was trading at $61,500 after briefly dipping below $61,000 to touch $60,900.

Despite the optimism, some factors suggest the market may be in for more downturns. Last week, CryptoQuant revealed a lack of bullish momentum in the crypto market, as seen in low stablecoin liquidity and weak Bitcoin demand growth from large investors. The crypto intelligence platform also disclosed that Bitcoin demand from whales was growing at a monthly rate of 4.8%, but traders were still decreasing their holdings. Stablecoin liquidity recorded its slowest pace since November 2023. Furthermore, U.S. Bitcoin and Ethereum investors, who are usually major driving forces during rallies, have had weak demand growth. The U.S. spot Bitcoin exchange-traded fund (ETF) market, which reflects the intensity of this demand, has experienced consistent outflows since June 13.

CryptoPotato also reported that Bitcoin could lose more of its value as miners have not capitulated yet. Bitcoin miners have continued to offload their assets as operational costs, hash rates, and pressures increase. Analysts expect weaker miners to 'die' and hashrate to recover before Bitcoin can resume its northward movement.

According to Odaily, Nvidia's stock price experienced a 3.2% drop after the opening of the US stock market, marking a decline for the third consecutive trading day. This downturn could potentially result in the evaporation of over $300 billion in market value.

Currently, Nvidia's market value is lower than both Microsoft and Apple. As of last Friday, Nvidia's market value was approximately $3.1 trillion, falling behind Apple's $3.2 trillion and Microsoft's $3.3 trillion. However, despite the recent decline, the company's stock price has still seen a significant increase of 156% from the beginning of the year to the most recent closing day. This makes it the best-performing individual stock in the Nasdaq 100 Index, which is primarily composed of tech stocks.

According to Odaily, Circle's co-founder and CEO, Jeremy Allaire, has expressed a stronger belief in cryptocurrency than ever before. He voiced his opinion on the X platform, stating that the way most 'important people' such as mainstream media, policy makers, and heads of large financial institutions, often filter the concept of 'blockchain' is usually overly narrow.

Allaire believes that blockchain networks are the new internet operating systems. They are unique and ensure that data and code are immutable, indisputable, and publicly verifiable. Most importantly, these networks are designed to be decentralized, providing society with an undisturbed, direct, and efficient surface for participation and transactions.

From a technical perspective, the development of infrastructure is quite incredible, including aspects such as tools, security, scalability, and many others. Allaire's comments highlight the growing acceptance and understanding of blockchain technology and its potential to revolutionize various sectors.

According to Odaily, Bitwise Chief Investment Officer Matt Hougan has expressed concerns over the past year's Bitcoin investment scenario. He pointed out that various mechanisms have artificially advanced future demand, with Grayscale GBTC being the primary culprit. As hedge funds carried out premium transactions, GBTC brought forward billions of dollars in future demand.

Other mechanisms, including the bankruptcy of Mt.Gox and the confiscation of Bitcoins from Silk Road, have also played a role. These 'lockboxes' have kept Bitcoin prices higher than those in the free-flowing market, which was beneficial. However, these assets are now being unlocked, thanks to ETFs and the passage of time. As a result, Bitcoin must attract billions of dollars in new demand to maintain its current status.

Hougan added that the market has already eliminated most of the pending issues, such as the stabilization of GBTC assets. However, not all pending issues have been resolved, resulting in pressure on today's cryptocurrency market.

According to BlockBeats, Kanav Kariya, the president of Jump Crypto, has stepped down from his position after six years of service at Jump Trading. This news comes just two days after it was reported that the U.S. Commodity Futures Trading Commission (CFTC) is investigating Jump Crypto.

Jump has always been recognized as one of the leading participants in the high-frequency trading sector. In September 2021, the company announced the establishment of its cryptocurrency division, Jump Crypto. However, it remains unclear whether the CFTC is considering levying any charges against the company.

The investigation by the CFTC and the subsequent departure of Kariya from Jump Crypto are significant developments in the cryptocurrency trading industry. However, the specifics of the investigation and any potential charges against Jump Crypto are yet to be disclosed. The impact of these developments on the company's operations and its future direction is also yet to be seen.

According to Odaily, Step Finance has reportedly burned an additional 12.5 million STEP tokens under its new 'STEP SUMMER BURN' initiative. This recent burn brings the total number of STEP tokens destroyed to date to 37.5 million. The company's new initiative aims to regulate the supply of STEP tokens in the market, although the specific details of the plan have not been disclosed. This is not the first time Step Finance has burned its tokens. The company has a history of token burns as part of its strategy to manage the token's value and supply. The recent burn indicates the company's continued commitment to this strategy. The impact of this burn on the overall market and the value of STEP tokens remains to be seen.