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As Solana’s price fell, on-chain activity spiked, suggesting strong network fundamentals. Could this be a sign of an imminent rebound? This analysis dives into Solana’s on-chain data, explores potential reasons for the price drop in June and examines upcoming catalysts that could fuel a price spike.
Key takeaways:
SOL experienced significant price fluctuations in June, reaching a high of $175 on June 5 and a low of $124 on June 24. The price ultimately closed at $144 at the end of the month.The filing of spot Solana ETF applications by VanEck on June 27 and 21Shares on June 28 led to a 10% price jump in SOL, reflecting investor excitement.Daily transaction volume on the Solana network increased by nearly 34%, from 32.7 million on June 1 to 43.8 million by June 30, indicating growing user adoption and network activity.The monthly average of non-vote transactions on Solana reached 915.15 million in June, the highest level in two years.Solana captured a significant share (nearly 25%) of the DEX market, with a total DEX trading volume of $38.4 billion in June.The Solana Foundation enhanced network security by removing operators engaging in sandwich attacks from its delegation program.Solana ranked fourth in NFT sales volume with $68.5 million in June (26% decrease compared to May). The number of NFT transactions on Solana reached over 798k.
What You’ll Find in This June Solana Ecosystem Analysis:

At the end of June, SOL closed at $144. This bullish trend was fueled by the filing of the first spot Solana exchange-traded fund (ETF) applications in the United States by VanEck on June 27 and 21Shares on June 28, which sparked a wave of investor excitement. SOL’s price jumped 10% in one day following VanEck’s filing, continuing an upward trend that began in late May. Analysts believed that spot Solana ETFs, similar to the recently approved spot bitcoin ETFs, could significantly benefit the price of SOL.
On-chain data from the Solana network shows an increased daily transaction volume, a trend also seen in May. The network processed 32.7 million transactions on June 1, and that number rose steadily throughout the month, reaching a whopping 43.8 million by June 30. This represents a nearly 34% increase in daily transactions over the course of June, suggesting growing user adoption and network activity.

Number of daily transactions on Solana in May and June 2024. Data source: Artemis
Data from The Block also shows that the monthly average of non-vote transactions – including transfers, smart contract executions, and DEX trades – on Solana reached a staggering 915,15 million in June, the highest level in two years.
While overall network activity on Solana increased in June, the number of new addresses joining the network showed signs of slowing. Compared to May’s figure of 26.65 million new addresses, June saw a slight decrease, settling at 25.4 million. In terms of daily active users, Solana saw a spike on June 4 and June 26, reaching 2 million each day. By the end of the month, however, that number had dropped to 1.6 million on June 30.

Number of daily active addresses on Solana in May and June 2024. Data source: Artemis
The total value locked (TVL) within the Solana ecosystem witnessed a steady decline throughout June. Starting at $4.8 billion on May 1, the TVL dropped to $3.4 billion by June 30. This represents a significant decrease of roughly 29% in locked funds over the course of the month. However, despite this monthly decline, Solana’s TVL has still grown significantly year-over-year. On January 1, 2024, the TVL was only $1.4 billion. Overall, Solana’s TVL has increased 140% in six months.

Solana TVL in 2024. Source: DefiLlama
This TVL is a positive indicator for the Solana network. It suggests that more users and developers are actively using the platform, locking up their crypto assets in DeFi applications and other services. This increased engagement reflects a growing demand for Solana and its projects.
Furthermore, a high TVL can boost investor confidence. It showcases the network’s robustness and growing adoption, which can generate positive sentiment and attract further investment. This increased buying pressure could translate into a higher price for SOL.
Despite ranking fourth in TVL, Solana has emerged as a major player in the DeFi space. This is evident in its impressive second place for decentralized exchange (DEX) volume by chain. This suggests that even though users might not be locking up as many assets in Solana DeFi protocols compared to some competitors, they are actively using Solana’s DEXs for trading, highlighting the network’s growing appeal and potential.

TVL across all chains. Source: DeFiLlama
Solana Ecosystem Updates
For the Solana ecosystem, June was marked by a focus on security, the introduction of new features, and continued expansion.

Security Takes Center Stage
The Solana Foundation took a proactive step against malicious activity by removing certain operators from its delegation program. These operators were identified as engaging in “sandwich attacks,” a predatory tactic that exploits transaction fees. This move demonstrates the Foundation’s commitment to a secure and trustworthy network.

Transforming the User Experience
Moreover, on June 25, the Solana Foundation launched tools called Solana Actions and blockchain links or “blinks” that allow any website, app, social media platform, and QR codes to become launch points for crypto transactions on the Solana blockchain.
Users can now seamlessly buy, sell, or trade crypto directly within the applications they already use. The tools are similar to Frames on Farcaster but are designed to work on any website, including X.
Colosseum Raises $60M
The Solana accelerator program, Colosseum, closed its first fund at $60 million. This substantial investment will fuel the growth of promising Solana-based startups and accelerate innovation within the ecosystem.
Loyalty Programs Go Digital
On June 12, Solana Labs, the company behind the Layer-1 blockchain Solana, introduced its new project Bond, a customer loyalty platform. This platform leverages blockchain technology to create secure and transparent loyalty programs for businesses and a more rewarding experience for consumers.

Circle and Solana Partner on Payments
On June 12, Circle announced a collaboration with Solana to integrate programmable wallets into their payment solutions. The integration will occur in two phases. The first phase will focus on programmable wallets, enabling developers to automatically manage assets based on predefined rules, and sponsored transaction fees through its gas station feature.
The second phase will introduce support for NFTs and program interactions via the Smart Contract Platform. This move will align Solana with other blockchains already supported by Circle’s Web3 services, including Ethereum, Polygon, and Avalanche.
Are Solana ETFs on the Horizon?
The prospect of a spot Solana ETF has become a hot topic in the cryptocurrency world. With several investment firms filing applications with regulators, the possibility of a regulated Solana product entering the U.S. market seems closer than ever.
On June 27 and 28, two major players, VanEck and 21Shares, filed S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) for a spot Solana ETF. The firms believe Solana’s native token should be treated as a commodity.

VanEck’s head of digital assets research, Matt Sigel, underscored the strong demand for Solana-based investment products, driven by its rapid technological advancements, decentralized nature and robust ecosystem.
However, Bloomberg ETF analyst Eric Balchunas said that the approval of a spot Solana ETF in the U.S. may only be possible with a change in the administration and the head of the SEC. Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, argues that it would have been more prudent to clarify SOL’s alleged security status before VanEck filed for a spot Solana ETF.

The applications by VanEck and 21Shares follow the recent filing by cryptocurrency asset manager 3iQ for a spot Solana ETF in Canada, marking a first for North America.
According to Bloomberg ETF analyst James Seyffart, over $1 billion worth of Solana exchange-traded products (ETP) are already available worldwide, including the 21Shares Solana Staking ETP and the ETC Group Physical Solana product in Europe, based on data from June 20.

The recent wave of filings for Solana ETFs shows that major institutions are increasingly interested in Solana-based products. This growing interest likely stems from Solana’s technological strengths and its growing presence in the market. As a result, Solana seems to be gaining wider acceptance from established financial players.
Solana Meme Coins
In June, while some meme coins experienced a rollercoaster ride with a positive ending, others faced a downward trend.
The price of Dogwifhat (WIF) showed an upward trend throughout June. Starting at $3.38 on June 1, WIF dropped significantly to $1.54 on June 24. By the end of the month, Dogwifhat had risen over 27% since 21Shares filed its S-1 with the SEC on June 28, reaching $2.11 on June 30.
Similar to Dogwifhat, Bonk (BONK) experienced a negative price trend throughout June 2024. On June 1, Bonk started the month strong at around $0.00003420. However, the price dipped throughout the month, reaching a low of $0.00001910 on June 24. Following the applications by VanEck and 21Shares for spot Solana ETF, BONK’s price saw a noticeable jump. The price rose to $0.00002483 (+30%) on the same day.

BONK/USD price index. Source: CoinGecko
Meanwhile, MAGA (TRUMP), the second largest PolitiFi coin by market cap ($290 million), also faced significant challenges in June. In May, the meme coin surged to new highs amid speculative trading and rumors of Donald Trump’s involvement (though the coin has no connection to Trump). However, these gains were quickly reversed following new rumors that Donald Trump’s team launched an “official” token on Solana.
Donald Trump’s team hasn’t confirmed the token’s launch, but TRUMP fell 43% from $10,8 to $6.15 on June 18 following the rumors. By the end of the month, the coin had recovered only slightly, closing at $6.79.

MAGA/USD price index. Source: CoinGecko
Interestingly, the Jeo Boden (BODEN) token linked to Trump’s main presidential rival, Joe Biden, fell over 41%, too.
Contrary to expectations, the top PolitFi meme coins, including BODEN, MAGA, TREMP, and TRUMP, also failed to rally following the June 27, 2024 presidential debate. However, Trump’s vice presidential pick is expected to be the next significant event in the PolitFi space and could potentially trigger the creation of new meme coins related to the chosen running mate.
The broader market trends also impacted daily fees and revenue for platforms facilitating meme coin trading. For instance, Pump.fun, a Solana-based meme coin marketplace, saw its daily fees plummet to an average of just about $605,000 on June 26, marking a 30% decrease week-over-week.
Solana DEXs
June was a busy month for Solana’s decentralized exchange (DEX) ecosystem, with new project launches, token airdrops, and continued growth in market share.
Solana Layer 2 Network Sonic Secures $12 Million in Funding
Sonic, a gaming-focused Layer 2 network built on Solana, raised $12 million in a Series A funding round. This round brings Sonic’s total funding to $16 million, having previously raised $4 million in a seed round in 2022.
Sonic offers an ultrafast on-chain gaming experience with minimal transaction costs. Their mainnet and token launch are expected later this year.

Zeta Markets Launches ZEX Token
Zeta Markets, a popular Solana-based DEX, airdropped their new ZEX token to incentivize user participation on their platform. Over 80 million ZEX tokens were distributed, and users have 90 days to claim them.
Squads Labs Raises Funding and Launches Retail Wallet
Squads Labs, the main developer of the Solana-based multisig protocol Squads, raised $10 million in a Series A funding round led by Electric Capital. This round brings Squads’ total funding to $22.5 million.
Additionally, the company launched their retail-focused iOS wallet app called Fuse on public TestFlight. Fuse aims to simplify digital asset management for users by eliminating the need for seed phrases and offering advanced security features.
Solana DEXs Capture Market Share
Solana is capturing a significant share of the DEX market. In early 2021, Solana had a market share of nearly 0%, but by May 2024, that number had jumped to 24%. In a June 18 report, venture firm Pantera Capital noted that Solana recorded over 60% of the new volume in decentralized exchanges in May.
Experts attribute this growth to Solana’s unique architecture, which offers better performance due to its integration of hardware and software. Additionally, Solana has become a popular platform for memecoins and DApps.
While Ethereum held onto the top spot in June with a total DEX trading volume of $48.7 billion, Solana made a strong showing, capturing the number two position with a total volume of $38.4 billion.

Solana DEX trading volume reached 38.4 billion in June (nearly 25% market share). Source: DefiLlama
Additional data from Dune Analytics shows that Solana’s total daily DEX transactions reached $13.1 billion on June 30, and this number has been actively growing throughout 2024. This indicates not only an increase in volume but also a growing user base actively participating in Solana’s DEX ecosystem.

Will Solana Rise in a Competitive Market?
June showed a complex performance for Solana. While the SOL price dropped due to internal network problems and a strong showing from Ethereum, on-chain activities indicated robust growth in user adoption.
The end of June saw a price increase fueled by the first spot Solana ETF filings in the US, hinting at potential future growth. These ETFs, if approved, would allow regular investors to easily buy into Solana, potentially bringing a wave of new money and pushing the price up. The buzz surrounding these proposals has already caused a price jump, and further developments could keep this momentum going.
However, there are some clouds on the horizon. The number of new users joining Solana dipped slightly, and daily active users declined towards the end of June. This means Solana needs to find ways to keep existing users engaged and attract new ones.
The decline in Solana’s TVL throughout June raises concerns, but the significant year-over-year growth remains a positive indicator. The future outlook for Solana’s DeFi space will depend on the network’s ability to attract and retain users and developers, as well as the overall market conditions for cryptocurrencies. Continued innovation and improvements in security, as seen with the removal of malicious operators, will be crucial for sustaining confidence in the Solana ecosystem.
On the bright side, Solana is constantly innovating. New features like Solana Actions aim to make the platform easier to use, while projects like Bond and programmable wallets could attract a wider audience. Partnering with companies like Circle also further strengthens Solana’s position in the crypto market.
Competition from other blockchains, especially Ethereum, remains fierce. Solana needs to address internal network issues and highlight its unique strengths to stay ahead. Regulatory hurdles could also slow things down, especially regarding the approval of ETFs.
Looking ahead, Solana is cautiously optimistic about its future. Continued innovation, a focus on security, and leveraging institutional investor interest are the keys to success. While challenges exist, by keeping users engaged, expanding its ecosystem, and forging strategic partnerships, Solana has the potential for significant growth and a stronger market presence in the coming months.

#sol #Write2Win #binance #Web3 #ETH

Bitcoin mining chiefs in Paraguay say controversial new electricity rates for the sector will cost the country almost $1.5 billion and leave some 1,170 people out of work.
Per Criptonoticias, the claims came from the newly formed Paraguayan Chamber of Digital Asset Mining (Capamad).
Bitcoin Mining Chiefs Warn of Job Losses
The National Electricity Administration (ANDE) has announced a new rates program. This will see most industrial miners pay between 13% and 16% more per month for power.
Capamad claimed that the mining industry “could inject $1,478,630,000 into the Paraguayan economy by the end of the year.”
The rate rise, Capamad has claimed, could “kill off” the Bitcoin (BTC) mining industry, effectively pricing many players out of the market.
Capamad warned that ANDE’s “unsustainable” move would “affect 1,170 jobs “directly.” Other “indirect jobs” linked to the mining industry would also be in danger, it said.
The chamber added that the price rises “put the very presence of the sector at risk” in Paraguay.
It went further, adding that the move will “drive up legal uncertainty and an unprecedented loss of confidence in the Paraguayan state and its leaders.”

The Itaipu Dam in Paraguay. (Source: Jonas de Carvalho [CC BY-SA 2.0])
The Paraguayan Bitcoin mining industry relies heavily on overseas funding. In the past, investors have been attracted by Paraguay’s abundance of surplus hydroelectric power.
But ANDE is unconvinced. It fears that a sharp rise in mining could put its grids under pressure. It has also been fighting a battle against illegal miners.
In conjunction with the police, the power administration has overseen the confiscation of almost 10,000 ASIC mining rigs.

Sell Miners Surplus Power, Industry Chiefs Urge
Capamad said that investments that “have strengthened the country’s economy and have positioned Paraguay as an international benchmark in the technology sector” are now at risk.
Currently, Paraguay sells much of its surplus power to other LATAM nations, notably Brazil and Argentina.
But, Capamad claimed, these sales “generate less income for Paraguay” than selling surplus power to BTC miners.
Capamad claimed that it was “not too late” for ANDE to reverse its decision, and help “position Paraguay as an attractive country for global investors.”

#Write2Win #bitcoin #btc #binance #bnb

Tools For Humanity, the operator of Worldcoin (WLD), will change the way it collects data in Chile after legal challenges.
The Spanish-language media outlet Criptonoticias reported that Tools For Humanity will now bar “children and adolescents” from handing over biometric data in exchange for WLD tokens.

Worldcoin prices over the past seven days. (Source: CoinGecko)
Worldcoin Pushback: Firm to Start Checking Chilean Users’ Ages
Astrid Vasconcellos, the head of communications and marketing for Tools For Humanity Latin America at Tools For Humanity, said the firm had “made changes” to the way it operates “following criticism and controversy.”
Worldcoin launched its Chile operations in July last year in Chile, with uptake high in many parts of the country.
Lawyer Filed Key Case at Appeals Court
Media outlets reported “long queues” forming at Chilean iris-scanning centers. However, the firm has faced pushback from the legal community over its decision to allow teenagers to use Orb scanners.
This has “sparked a controversy” in the nation, the media outlet noted.
The Chilean lawyer Rodrigo Lagos filed a case at the Santiago Court of Appeals in March this year after learning that his 17-year-old daughter was allowed to scan her iris “without her parents’ consent.”
This case came at a time when international scrutiny of Worldcoin operations and data privacy concerns were heightening.
Watchdogs and politicians in Europe, Africa, and Asia have stepped in. Elsewhere in Latin America, lawmakers have also called for Worldcoin-related regulations.
Chilean authorities thus followed suit. They began monitoring the firm in April to “ensure that consumers are fully informed about how their data will be used.”

ID Checks Now Compulsory at Chile Centers
However, Worldcoin appears keen to put an end to these concerns by shoring up its age- and ID-verification procedures. Vasconcellos explained:
“Previously we did not verify the age of [the people who use our centers]. Now, before you enter a [center], you have to present valid ID documents. The reason we didn’t do this before is that the fundamental pillars of the project include privacy and security.”
Vasconcellos continued, saying that the firm “didn’t want to confuse people” by “making think that we were cross-referencing personal data with iris scans.” She added:
“We have learned that we do need to verify the [age of] people who [use the centers]. It is not enough to take people’s word.”
Worldcoin operates iris-scanning centers in the capital Santiago de Chile, as well as Valparaiso, Rancagua, and Concepción.

Valparaiso Port, Chile. (Source: Luigi Bosca [CC BY-SA 3.0])1% of Chileans Have Scanned Their Irises
The firm says that it has successfully scanned “more than 1% of the Chilean population.”
Vasconcellos insisted that the firm does not retain images of the irises it scans, rather holding on to individual “iris codes.” Iris images, she explained, are “automatically deleted.” The Tools For Humanity executive concluded:
“The goal of the project is to create a humanity base: a network of humans. This will help identify who is human and who is not. There is a lot of misinformation about our project out there.”

Company Admits Worldcoin Project Is ‘Complex’
Vasconcellos noted that “perhaps” some of this was her company’s “fault,” as the project is “quite new and complex.”
Worldcoin pushback continues internationally. In late June, a UK regulator launched a probe into the firm’s operations.
However, Tools For Humanity scored a victory in Kenya last month when police dropped an investigation into the company’s centers.

#WLD #AI #binance #Write&Earn #btc

CEO and co-founder of Injective Labs, the core contributor to Injective, an open, interoperable smart contracts layer-one blockchain network optimized for decentralized finance applications.
Chen discussed institutionalized DeFi, the convergence of DeFi and TradFi, and the “highly attractive” yields in both industries.
Also, he has predicted that DeFi will be seen as mature and institutionalized by the end of this decade.
Additionally, he touched upon the burn mechanism of the INJ token, comparing the system to Ethereum.
The DeFi-TradFi Convergence and Highly Attractive Yields
Discussing the current state of DeFi, Chen remarked that, for the past year, “the general theme has been institutionalized DeFi.”
The industry has seen more integrations, adoptions, and “extremely large financial institutions” with huge assets under management “peeking into the space.” They are looking at utilities, deployments, and other details.
Interestingly, there will be effects of the institutional interest “bleeding over” into DeFi, which people may not attribute to institutions.
Projects are becoming “heavily institutionalized,” with the ideas of TradFi offerings becoming “more tightly integrated” with institutional rails.
This shift is beneficial for DeFi products.
Furthermore, the crypto industry is developing financial activities that allow everyone to aggregate resources and create synergy.
These are appealing to TradFi and are offered packaged as a TradFi product to be offered to general TradFi people, Chen noted.

Furthermore, the above-mentioned integration with the fiat and institutional rails works to capture part of the high yield offered in the space.
Notably, though many high yields are unreasonable, that’s not always the case.
Most of the high-yield opportunities promising beyond 10%-20% of APY are “typically results of lack of incoming liquidity. So the yield is concentrated amongst early adopters or limited participation set,” the CEO said.
He added that as more institutions come in, “you’re probably going to see a lot of those highly attractive and sensible APYs going down over time.”
DeFi Will Be Seen as ‘Heavily Institutionalized’ in Five Years
Injective on its side is very active as well, producing a number of notable services for its current and incoming users. It is also working with a number of large institutions.
Chen remarked that a recent upgrade included a real-world asset (RWA) module with an optionality for full composability. It enables institutions to gain access and “create a bunch of structured products in a fully compliant way.”
Injective itself, as an ecosystem, is very much DeFi-centric, he said. And this means that composability and synergy amongst all the existing primitive is the most important aspect, Chen argued.
The team is already seeing “a lot more” RWA pairs across the Injective ecosystem.

All this said, the RWA developments will push DeFi further toward mainstream adoption.
Therefore, Chen opined, TradFi adoption and institutionalization of DeFi and the sector as a whole is going to happen “a lot faster than people think.”
He added that,
“I would put roughly four to five years when it reaches that type of maturity scale where most people consider crypto or DeFi to be heavily institutionalized, to be heavily mature, and to be well integrated within the global financial ecosystem.”
Importantly, the sector will retain its “cyberpunk rebel” nature because it’s not this ecosystem that’s joining the traditional financial ecosystem but rather the other way around.
Five years may seem far, but the process is gradual, though exponential, Chen stated.
It starts with “small promises,” companies moving to RWAs, participating in various DeFi activities, moving deeper into the ecosystem, and generally, with time, participating in a lot of DeFi mechanisms.
And then, “within a matter of months, everyone starts rushing in, and the market gets crazy.”
Burn, Token, Burn
The injective team has surpassed 6 million native INJ tokens burned.
Chen discussed the relevance of the token mechanism, saying it’s the result of the entire ecosystem coming together and aligning in terms of value and economic incentives.
Gas fees, he argued, work for “generalized environments,” such as Ethereum. But Ethereum will eventually converge towards a sensible gas ecosystem, with user and developer behavior changing accordingly.
Meanwhile, Injective has many modules that are “basically these optimized layers that allow users to forever, regardless of new technologies that come out […] to always have the efficiency and cost advantage over others.”
This is because the chain itself has built-in “biases” towards financial-specific applications.

Furthermore, when it comes to the chains like Ethereum, the economic activity doesn’t necessarily happen through the demand for computation but rather through the competition of arbitrage or trading opportunities, Eric Chen argued.
It allows gas to be a proxy for the value of economic activity.
In Injective’s case, “the more direct way” is to simply burn the tokens. Its burn mechanism is “kind of like a nice marriage between Ethereum’s native mechanism and the more utility-centric or sector-specific mechanism that allows for a more direct process,” Chen concluded.
____
That’s not all.
In this interview, Chen also discussed:
the focus on building the fastest L1 blockchain for DeFi;tokenized RWAs – tokenizing real-world assets for the masses;the reality of high yields, whether they are sensible, and when TradFi might offer them;Injective’s many executed and incoming updates and accomplishments, including Helix 2.0;plans and predictions for the second half of this year, including the exciting developments on the institutional adoption side;the evolution of crypto conferences globally.
#INJ #binance #Write2Win #tradinginsight

Contact for works : ceo.avacapital@gmail.com

ZKsync is a popular layer-2 solution designed to improve Ethereum’s performance. The “ZK” in ZKsync stands for “zero-knowledge,” referring to a type of cryptography it uses. ZKsync uses this technology for aggregating multiple transactions off the main Ethereum network, bundling them together, and then securely adding them back to Ethereum as one.
The platform’s native ZK tokens were recently listed on the leading cryptocurrency exchange, Binance. This article offers a ZKsync ZK price prediction from 2024 to 2030 and analyzes recent trends. It also highlights the price predictions of other expert analysts to help investors make well-informed decisions.
ZKsync Coin Price Prediction 2024-2030

Our ZKsync ZK price prediction suggests that ZKsync could reach $0.24 by the end of 2024 and further grow to $0.42 by 2025.Long-term projections indicate ZK might peak at $1.26 by 2030, though some analysts offer more conservative estimates of around $0.7.ZKsync’s price performance will likely be influenced by its platform upgrades, including the recently launched ZKSync 3.0 and its “Elastic Chain” concept.Market adoption of Layer 2 solutions, overall cryptocurrency market trends, growth of the ZKsync ecosystem, and regulatory developments will play crucial roles in ZK’s price trajectory.
YearPotential LowAverage PricePotential High2024$0.1$0.17$0.242025$0.23$0.32$0.422030$0.9$1.11$1.26
ZKsync Price Prediction for 2024
Many buyers are now looking for the next crypto to explode, especially as the broader market sentiment shows signs of recovery. In 2024, many in-network developments can impact our ZKsync ZK price prediction.
ZKsync Era provides scalable and affordable transactions thanks to its unique ‘cryptographic validity proofs.’ It targets the two main problems with blockchains: speed and affordability.
This is quite relevant in light of how the platform has been evolving over time. In October 2022, they launched version 2.0 of a public test net as the initial implementation of zkEVM. This was a major step, putting the system into the hands of developers for testing and feedback.

ZKsync then recently introduced the ZK Stack, which is a tool that helps developers implement their very own blockchains using ZKsync technology. This action can drastically increase the reach and influence of the project- making it more welcoming to new users.
These developments can potentially push adoption and increase the demand for the token. Thus, we predict that the ZKsync token might rise significantly from today’s price hit $0.24 by 2024. This prediction is under the premise that the platform keeps launching new features and updates while attracting more users.
Some platforms like CoinDataFlow offer an even more optimistic outlook. The platform predicts that the ZK token could peak as high as $0.3 in 2024.
ZKsync Price Prediction for 2025
The 2025 ZKsync token price prediction is based on some planned improvements and general developments that are expected to occur in the market. The platform supports a variety of tool versions. This is because its goal is to make it as easy as possible to move projects over to ZKSync and reduce the cost of entry for developers.
An important update is related to the fee composition on ZKSync. The project aims to provide a better fee modeling system by using more accurate fee data to ensure developers only pay for the resources they are utilizing. Such a cost-efficient mechanism for transaction fees could incentivize more developers and projects to consider using the platform.
Also, the bigger picture is looking positive for the market as a whole in 2025. Many analysts expect an upward trend, and some predict that BTC will reach $200,000 by September 2025. Such a bull run often has a ripple effect on Ethereum and other new cryptocurrencies. The ZKsync token price could likely ride this momentum and continue to grow in the coming years.
Taking all of these factors into account, our analysis shows the potential for the ZKsync price to hit $0.42 by 2025. Even major crypto analysis platforms such as Digital Coin Price predict a possible high of $0.43 for ZK.
ZKsync Price Forecast Long Term Outlook – 2026-2030 Predictions
A Fortune Business Insights market report showed how the global blockchain market can grow from $17.57 billion to $469.49 billion in 2030. This growth sets the stage for layer-2 projects like ZKSync to grow exponentially.
In fact, it has been setting itself up to take advantage of this market growth with continuous platform upgrades. The recent ZKSync 3.0 Launch Roadmap developed by Matter Labs is an important milestone in this direction.
ZKSync 3.0 is based on the v24 upgrade– which turns ZKSync from a single chain to an “Elastic Chain.” This involves several interlinked chains in the ZKSync ecosystem–all built to offer a direct, same-chain experience for users.

Elastic chains aim to offer better interoperability with the help of advanced mathematics while ensuring high security. It has some resemblance to Polygon’s AggLayer, which was launched in early 2023.
Moreover, ZKsync tokenomics are also reasonably balanced. The largest portion of its 21 billion token supply is allocated to “ Token Assembly–” which shows a focus on decentralized governance.
These new upgrades and balanced tokenomics can bring additional users and developers to the ZKSync network. This increased adoption could help the ZK token to find new highs.
Thus, by our ZKsync ZK price prediction for 2030, it could potentially peak at $1.26 under optimistic conditions. CoinDataFlow, on the other hand, provides a more conservative ZKsync coin forecast for 2030 and suggests it could only reach a peak of $0.7. However, it’s important to consider these factors when looking for the best long-term cryptos.
Overall market sentiment and economic conditionsRegulatory developments in the crypto spaceCompetition from other Layer 2 solutions and blockchain projects
Potential Highs & Lows of ZKsync
Here’s a summary of our ZKsync price forecast from 2024–2030:
YearPotential LowAverage PricePotential High2024$0.1$0.17$0.242025$0.23$0.32$0.422030$0.9$1.11$1.26
Our ZKsync Price Prediction Methodology
We’ve used a balanced and well-rounded approach that combines technical and fundamental analysis to make a ZKsync price prediction.
Here, it’s worth noting that technical analysis provides information about short-term price movements and market psychology. Technical analysis typically involves the study of historical price data and trading volumes to identify patterns that can be used as support or resistance levels.
Some indicators we used to study possible price movements are the moving average, RSI (relative strength index), MACD (moving average convergence divergence), market capitalization, etc. This quantitative analysis allows us to make some conclusions about sentiment in the market and any potential support/resistance level in the short term.
For making a long-term price prediction, we’ve relied heavily on the fundamentals. It is based on the assessment of ZKsync’s technology, its roadmap, and the ‘X’ factor of the project. This would typically involve evaluating ZKsync’s ability to execute its roadmap, the potential increase in the number of users, and where it stands compared to other Layer 2 Scaling Solutions.
We also evaluate larger market trends, regulatory environments, and macroeconomic factors that may influence the crypto ecosystem on a more global scale. However, the crypto ecosystem is quite volatile, and many unforeseen events can significantly impact any ZKsync ZK price prediction.
ZKsync Price History
While historical performance doesn’t guarantee the future, looking into ZKsync’s price history is important for analyzing where it might be headed next.
ZK Token was recently listed on Binance and initially traded on the open market at around $0.09. However, the broader crypto market’s sentiment took a hit soon after its debut. This led to a downward spiral and a loss of nearly 40% over the next two months. The token eventually found support at $0.159 & traded around this level with relatively low volumes. Its market capitalization has settled at around $600,000.

In the meantime, the price action chalked out a classic descending channel pattern on the chart. A descending triangle occurs when an asset makes lower highs and lower lows within two converging downward-sloping lines.
Usually, this pattern would reinforce the bearish trend. It is important to realize that descending channels often result in bullish breakouts if buyers can boost the price above the upper trendline. Many buyers are hoping for a trend reversal if the price breaks out of its current pattern.
Summary of ZKsync’s Price Performance
ZKsync was launched at around $0.09 in a generally bearish market context.ZK lost 40% of its value over the next two months amid uncertain conditions.The token found support levels near $0.159. This is an important ZK price point as it could determine the token’s short-term performance.Price action formed a descending channel, often taken as an indicator of bearish trends but with the potential to break out bullish.Many buyers are now looking for the first potential signs of a reversal.
What do Other Analysts Predict for ZKsync Coin?
When looking at what analysts forecast for ZKsync (ZK), it’s important to remember that these forecasts are based on historical data and current market trends. They should be viewed as informed estimates about the average expected price rather than guaranteed outcomes or investment advice.
Digital Coin Price offers a generally optimistic outlook for ZKsync:
For 2024, they predict a minimum price of $0.15 with a high of $0.36 and an average price of $0.35.Their 2025 forecast suggests growth, with prices between $0.35 and $0.43, averaging $0.42.By 2030, they project a significant increase, with prices potentially reaching between $1.11 and $1.23, averaging $1.19.
CoinCodex gives a more volatile prediction:
Their 2025 forecast ranges from $0.168 to $0.805, indicating potential for substantial growth.For 2026, they suggest a possible price correction, with a range of $0.140 to $0.451.Their 2030 prediction is more conservative than the Digital Coin Price, ranging from $0.434 to $0.704.
Coin Data Flow’s perspective:
For 2024, they predict a range of $0.151 to $0.302, aligning closely with Digital Coin Price’s lower estimate.Their 2025 forecast is more bullish, with a potential high of $0.815.By 2030, they project a range of $0.225 to $0.758, falling between the predictions of Digital Coin Price and CoinCodex.
We can see some common trends after analyzing these predictions:
Short-term growth: All three sources anticipate some level of price increase for ZKsync in the next few years.Long-term potential: There’s a general consensus that ZKsync could see significant growth by 2030.Volatility: The wide ranges in some predictions (particularly from CoinCodex) show the potential for price fluctuations.Diverging long-term views: While all sources predict growth, their 2030 forecasts vary considerably. This shows the uncertainty in long-term crypto predictions.
It’s crucial to note that the price of ZKsync can be influenced by various factors, including:
Technological upgrades in the ZKsync ecosystemBroader crypto market trendsRegulatory developmentsAdoption of Layer 2 solutionsCompetition from other similar projects
What is ZKsync Coin and What is it Used for?
ZKsync is a cutting-edge layer-2 solution on Ethereum designed specifically to solve scalability and cost issues related to gas fees while keeping it optimized for high security. ‘ZKSync Era’ uses zero-knowledge (ZK) rollup technology to enable this.
The ZKsync team recognized these performance limits quite early on. It invested in a cryptographic method to allow it to process many transactions off the chain before submitting them to the Ethereum mainnet.
What is a ZK Rollup
A ZK Rollup is a Layer 2 scaling solution in blockchain technology that increases the throughput of transactions while reducing costs. It uses zero-knowledge proofs to aggregate multiple transactions off-chain and then submit a single proof to the main chain, improving scalability and efficiency.
ZKsync batches together many transactions and creates cryptographic proofs of the validity for those all to be included in one batch. These proofs are then submitted to Ethereum – thus maintaining the security guarantees of the main network.

Unlike Rollups, ZKSync supports Solidity (and Vyper) smart contracts on the off-chain protocol level. This makes it easier for the developers to port their applications. Moreover, ZKsync is compatible with existing Ethereum wallets and removes the need to create multiple accounts and manage extra private keys.
ZKsync also supports ‘native account abstraction,’ an advanced feature that goes well beyond the EIP4337 standard implemented in Ethereum and other rollups. This improvement allows users to have greater control of their wallets and the smart contracts they interact with.
In the ongoing circulating argument between optimistic and zk-rollups, many industry experts believe ZKsync is a better solution. Despite the rise of optimistic rollups such as Arbitrum and Base on the Layer 2 scene – Ethereum co-founder Vitalik Buterin believes that ZK rollups will become the preferred scaling solution in the long term.
ZK Token Overview
The ZK token acts as a governance token for the network. The ZKsync crypto community can vote on proposals for the protocol and determine the token’s role itself. The token has recently held a ZKsync airdrop, which distributed 3.675 billion tokens to token holders. The ZK token has a current price of $0.1642, and the market cap is over $600,000. The 24-hour trading volume is $167,784,654. There is a total supply of 21,000,000,000 ZK and a circulating supply of 3,675,000,000 ZK.
Is ZKsync a Buy?
ZKsync is quite a promising layer-2 solution that is solving some of the top problems we see in the crypto space currently. The platform’s ability to continue upgrading itself and attracting more developers can affect its long-term growth. If it continues on its current trajectory and increases trading volume, we may see significant positive movements on the ZK price. However, given the price volatility of crypto, this is not certain. When making any investment decision, always do your own research.
Conclusion
Will ZK’s future trends be positive? Industry leaders like Vitalik Buterin have been vocal about their optimism on ZK rollups. On the other hand, some crypto analysis platforms have maintained cautious optimism about its future.
So, It’s crucial to have a balanced portfolio by diversifying your risks. However, selecting a good investment from over 10,000 active cryptos in the crypto market can be tricky. That’s why we have shortlisted a few utility-focused projects on our ‘Best Cryptos’ page. You can just click the link below to check out these cryptos with high upside potential to support your investment decisions
#zk #Write2Win #binance #bitcoin #Web3

The Dogecoin price has risen by 5% in the past 24 hours, reaching $0.1235 as it attempts to recover from plunging to a 100-day low late last night.
The meme token is now up by 2% in a week, but down by 12% in a fortnight and by 27% in the past month, following a difficult few weeks for the entire market.
Despite this, DOGE holds onto an 83% gain in the past year, although this is less impressive than the 12-month gains recorded by other major tokens (e.g. Bitcoin, Solana, Toncoin).
Traders may, therefore, prefer to look to newer tokens for bigger, quicker gains, with a new meme token, WienerAI, attracting investors to its $6.4 million presale.
Dogecoin Price Dips to 100-Day Low
DOGE has now bounced from the 100-day low it succumbed to last night, with its renewed momentum looking as though it could continue for several days yet.
Its 30-day moving average (orange) has begun climbing sharply and is close to overtaking its 200-day average (blue), which is usually a sign of a breakout.

Source: TradingView
Likewise, DOGE’s relative strength index (purple) has jumped from 30 yesterday to nearly 70 today, indicating a return of buying pressure.
What’s also bullish that the coin’s trading volume has risen from $330 million a couple of days ago to around $850 million today.
Again, traders can take this as a sign that the coin’s discounted price has been able to entice buyers back, after several weeks of decline.

Some traders are now suggesting that DOGE is on course to repeat the kind of growth it witnessed in late 2020 and early 2021.
The coin’s indicators would suggest that this is possible, although investors should bear in mind that each year and each cycle comes with its own fundamental and macroeconomic conditions.
And in the present case, buyers remain spooked by the prospect of Mt. Gox’s creditors dumping $9 billion in BTC on the market.
Mt. Gox’s trustees will begin returning this quantity of BTC from next month, with prices likely to take a hit.
As such, the Dogecoin price will potentially have to wait for a few more weeks or even months before seeing some truly substantial growth.
Yet such growth will come sooner or later, with the coin heavily oversold, and with the market likely to improve as central banks introduce rate cuts later in the year.
It could return to $0.15 in the next few weeks, before reaching $0.2 by Q4.

#Write2Win #binance #btc #eth #dogecoin

Today, the Solana price experienced a slight pullback amid a broader market downturn, with most top 100 coins dipping more than 2.5%. Despite this, there are indications of an upturn.
The SOL price has decreased by 3.72% over the past 24 hours, bringing it down to $131.71.
In a pullback, Solana has posted a weekly loss of 11.13%, following the trend of major cryptos like Bitcoin (BTC) and Ethereum (ETH), which have also retraced.
Although Solana has fallen by 26.85% this month, it has still achieved an impressive return of 691.41% this year, far surpassing that of other leading cryptocurrencies.
The coin’s 24-hour trading volume dropped 1.50% to $2.13B, indicating a slight shift in activity among traders.
Solana Price Approaches Key Support – Bounce Incoming?
The Solana price seems to be gearing up to bounce as it finds footing at a key support level.

Notably, After flirting with the $129.75 support level (grey) at the hour’s low point, Solana managed to close above it. This suggests that the downward momentum has been weakened and potentially stabilized.
If Solana can decisively break upwards from here, it would confirm this weakened selling pressure. The support would hold strong, forming a foundation for a potential swing to the upside.
This possibility is supported by the coin’s relative strength index (RSI) (purple), which has surged from 20 to 40 in the past hour. This indicates increasing buying momentum and a potential trend reversal.
However, BONK’s 30-day moving average (yellow) is trending downward, positioned below the 200-day moving average (blue), which is also declining. This suggests persistent downward momentum in both the short and long term.
Hence, the current stability might not provide a strong enough foundation for a wider trend reversal, potentially signaling further retracements.
This price action is likely credited to the overall market sentiment following the US Federal Reserve’s hawkish stance on inflation. Traders are uncertain following the disappointing macroeconomic forecast.
In a recent Bloomberg interview, Coinshares Advisor Meltem Demirors cited market activity as indicating a “sideways summer” as the market consolidates. Meanwhile, other experts see this consolidation as a prelude to an upcoming altcoin season.
#sol #btc #tradinginsight #solana #binance

Having launched in March of this year, Hamster Kombat has quickly attracted converts to its Telegram, where players can assume the role of a fictional crypto-exchange CEO.
By tapping on a digital hamster, users can earn virtual tokens and other rewards, while the game also offers a range of bonuses and mini-games.
Such is its growing popularity that its airdrop may end up being one of the biggest launches of the year.
Hamster Kombat Price Prediction as Clicker Game Exchange Listing Approaches: Can It Reach $1?
Hamster Kombat follows in the footsteps of Notcoin (NOT) and other Telegram-based games, with NOT reaching all-time highs this month amid a surge of interest in the tap-to-earn sector.
NOT’s growing popularity has stemmed in part from Hamster Kombat, which actually boasts far more X followers than Notcoin.
This is despite Hamster Kombat being the newer project, a potential sign of its greater appeal.

As noted above, the gameplay mechanics of Hamster Kombat are simple, yet they also seem to be pretty addictive so far.
Players can sign up by subscribing to the game’s Telegram channel, where the gamer’s team posts new challenges and mini-games on a regular basis.
Each little mission revolves around some exchange-related narrative, with players simply tapping their phones in order to earn a set amount of tokens.

Source: Hamster Kombat
They can also earn bonuses for recruiting friends, while obtaining more coins increases the rate at which they accumulate additional tokens.
What’s exciting about all of this is that the in-game tokens players earn will be convertible to HMSTR tokens during the project’s airdrop.

However, the Hamster Kombat team have recently confirmed that players will receive HMSTR tokens according to their profit per hour (and other, undisclosed parameters), rather than according to their actual coin balance.
Regardless, it’s clear that the game operates as a kind of promotional and recruitment-related mechanism for the upcoming HMSTR token.
And judging by the game’s popularity, this token is likely to be successful.
Given that the team hasn’t even announced an airdrop date or price, it would be premature to target a particular level at this juncture.
Yet it’s pretty clear that Hamster Kombat price will likely rocket once the coin lists, even if its long-term staying power remains to be seen.
#hamster #bitcoin #Write2Win #binance #meme

SHIB has dropped by 5% in the past 24 hours, with the Shiba Inu price slipping to $0.00001769 as the wider crypto market takes a 3.5% hit today.
The meme token is now also down by 18.5% in the past week and by 32% in the last 30 days, although it holds onto a 140% increase in the past year.
Given that SHIB hasn’t taken a lot of punishment in recent weeks, it’s now in a good position to rebound in the near future.
Indeed, transfer data suggests that whales have begun accumulating the coin again, taking advantage of its discounted price.
Shiba Inu Price Falls 4.6% Overnight – Time to Buy the Dip?
SHIB looks pretty weak right now, but the implication of this is that it can take only so many losses before its reduced price begins to entice buyers all over again.
Its indicators would also suggest that it’s due a rebound very soon, with its relative strength index (purple) bouncing from a low of 30 earlier this morning,.

Source: TradingView
Likewise, SHIB’s 30-day moving average (orange) continues to fall below the 200-day average (blue), nearing a point when it has to bottom out and bring the coin back up.
One negative feature of Shiba Inu’s chart is that its resistance (red) and support (green) levels continue to decline in parallel, indicating an ongoing downtrend.

As noted above, there’s some indication that large traders are already beginning to come to SHIB’s aid.
This signals a growing belief that the Shiba Inu price is getting closer to a rebound, with market factors and fundamentals pointing to such a scenario.
On the market side, pretty much all major coins have taken enough pain in the past few weeks, with the incoming launch of Ethereum ETFs likely to boost demand across the board.
Inflation has also been falling in numerous major economies, raising the likelihood of rate cuts in the next couple of months.
In turn, this will drive money into markets, including the crypto market.
As for SHIB itself, it still boasts some of the strongest fundamentals of any meme token.

It has a number of updates and launches planned for the next 12 months, including the launch of its own layer-three network.
Taken together, such developments should boost the usage of SHIB, which in turn will push the Shiba Inu price higher.
It could reach $0.000025 in the next few weeks and $0.000050 by Q4.

#shib #shiba #meme #binance #tradinginsight

Today, the Solana price experienced a slight pullback amid a broader market downturn, with most top 100 coins dipping more than 2.5%. Despite this, there are indications of an upturn.
The SOL price has decreased by 3.72% over the past 24 hours, bringing it down to $131.71.
In a pullback, Solana has posted a weekly loss of 11.13%, following the trend of major cryptos like Bitcoin (BTC) and Ethereum (ETH), which have also retraced.
Although Solana has fallen by 26.85% this month, it has still achieved an impressive return of 691.41% this year, far surpassing that of other leading cryptocurrencies.
The coin’s 24-hour trading volume dropped 1.50% to $2.13B, indicating a slight shift in activity among traders.
Solana Price Approaches Key Support – Bounce Incoming?
The Solana price seems to be gearing up to bounce as it finds footing at a key support level.

Notably, After flirting with the $129.75 support level (grey) at the hour’s low point, Solana managed to close above it. This suggests that the downward momentum has been weakened and potentially stabilized.
If Solana can decisively break upwards from here, it would confirm this weakened selling pressure. The support would hold strong, forming a foundation for a potential swing to the upside.
This possibility is supported by the coin’s relative strength index (RSI) (purple), which has surged from 20 to 40 in the past hour. This indicates increasing buying momentum and a potential trend reversal.
However, BONK’s 30-day moving average (yellow) is trending downward, positioned below the 200-day moving average (blue), which is also declining. This suggests persistent downward momentum in both the short and long term.
Hence, the current stability might not provide a strong enough foundation for a wider trend reversal, potentially signaling further retracements.
This price action is likely credited to the overall market sentiment following the US Federal Reserve’s hawkish stance on inflation. Traders are uncertain following the disappointing macroeconomic forecast.
In a recent Bloomberg interview, Coinshares Advisor Meltem Demirors cited market activity as indicating a “sideways summer” as the market consolidates. Meanwhile, other experts see this consolidation as a prelude to an upcoming altcoin season.

#sol #Write2Win #binance #altcoin2025 #eth

    

Today, the Shiba Inu price has seen a minor pullback, causing it to drop below a crucial support level that had been holding firm during its recent consolidation.
The SHIB price has decreased 3.58% over the past 24 hours, bringing it down to $0.00002 amid a major market crash.
In a pullback, SHIB has posted a weekly loss of 14.00%, following the trend of major cryptos like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), which have also retraced.
Although SHIB has fallen by 20.40% this month, it has still achieved a solid return of 176.69% – comparable to the gains of other leading cryptocurrencies.
With the meme coin’s 24-hour trading volume surging 43.80% to $258.85M, traders seem to be engaging in elevated activity.
Shiba Inu Price Breaks Long-Term Support – Are Whales Selling Now?
After dipping in the early hours of this morning, the Shiba Inu price seems to have shifted towards a downtrend, breaking its sideways momentum.

This shift occurred as SHIB fell below the major support level at $0.00002048, which it had maintained over the past few days. This support level, coupled with strong resistance at $0.00002109, had kept the price consolidating sideways until now.
Other indicators support this shift in momentum, such as the relative strength index (RSI) (purple), which has fallen from 55 to 10 over the past 24 hours. The steep drop in RSI suggests intense selling pressure in the market, reaching oversold territory.
Additionally, the 30-day moving average has started to decline, hinting that the short-term trend is moving toward a downtrend.
The 30-day MA also trails below the 200-day moving average (blue), showing a slight downtrend.
There is no data suggesting big buys from whales in the past few weeks, yet the sudden selling pressure indicates substantial movement among traders.
#shib #binnace #btc #eth #meme

Bitcoin Price Prediction as BTC Consolidates at Support – When is the Next Move ?
The Bitcoin price has dropped by 0.5% in the past 24 hours, with its reading of $66,155 also making for a loss of 0.7% in the past hour.
Its minor change comes as the cryptocurrency market as a whole falls by 0.5% today, with BTC down by 4.5% in a week.
However, the market’s biggest cryptocurrency holds onto a nice 148% gain in a year, with much of this increase stemming from January’s launch of several Bitcoin ETFs.
And given that it almost always leads market rallies, its next move up should arrive very soon.
Bitcoin Price Consolidates at Support – When is the Next Move Up?
Bitcoin has been having a rough time since June 7, when it dived from around $71,000 to $69,000.
Since then it has declined even further, dripping to $66,000 today and showing the signs of poor momentum.
For one, its relative strength index (purple) has declined to 40 today, having spent nearly two weeks mostly below 50.

Source: TradingView
At the same time, BTC’s 30-day moving average (orange) continues to remain well below the 200-day (blue), implying that it and the coin’s price should recover soon.
However, one thing not supporting an imminent recovery is the coin’s support level (green), which like the resistance level (red) has been dropping steadily for a while now.

At the moment, it seems that whales are likelier to offload BTC, with some perhaps still taking profits from the coin, which remains considerably higher than where it was a few months ago, let alone a year ago.
Yet the fact that it is still up is good news, since it suggests that Bitcoin remains within a longer term upwards trend.
It’s likely that it rally again soon, both because the market has oversold it a little, and because we expect the first spot-based Ethereum ETFs to launch in the next few weeks.
When this happens, the whole market will receive a lift, including BTC.
And more generally, the market is likely to pick up more towards the end of the year, with the Federal Reserve likely to introduce a much-anticipated rate cut by September.
Such cates may pave the way for more funds and institutions to buy into the existing BTC ETFs, pushing the Bitcoin price higher.
It could reach $70,000 by the end of the summer, and top $80,000 by the end of 2024.
#btc #bitcoin #binance #tradinginsight

 

The White House is showing increasing interest in Biden Bitcoin policy and how it can shape the future of cryptocurrency regulation.
The Biden administration is reportedly scheduled to attend a Bitcoin roundtable in early July with several lawmakers, including U.S. Congressman Ro Khanna (D-CA) and billionaire crypto investor Mark Cuban, according to documents obtained by Bitcoin Magazine on May 15.
Ro Khanna, Mark Cuban And More To Attend Meeting On Bitcoin Regulation
The media outlet says it verified an email from the office of Khanna allegedly confirms the meeting, with the Khanna’s office describing it as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”
According to Bitcoin Magazine, the purpose of the meeting is to “keep Bitcoin and blockchain innovation in the United States.”
Both Khanna and Cuban have advocated for regulatory reform across the cryptocurrency sector, with the Californian congressman most recently supporting the Financial Innovation and Technology for the 21st Century Act (FIT21).

“We need blockchain innovation here in America, while also creating regulatory clarity & proper consumer protections,” Khanna said, calling the bill “an important step forward.”
Joe Biden, Donald Trump Differ On Bitcoin As Polls Narrow
Meanwhile, Cuban has echoed similar sentiments, particularly in regards to how current crypto regulations may affect the November 2024 U.S. presidential election.

During Coinbase’s State of Crypto event last week, the “Shark Tank” star claimed that United States Securities and Exchange Commission (SEC) Chair Gary Gensler could “literally cost Joe Biden the election.”
The current U.S. president has often stood in favor of the SEC’s regulation-by-enforcement approach to digital assets, despite Republican frontrunner Donald Trump’s hands-off stance towards the crypto sector.
Most recently, Biden stopped short of vetoing FIT21, a marked shift in tone from his past statements regarding developing blockchain regulations.
“The Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system,” a statement from Biden’s administration following the House of Representatives’ passage of FIT21 said.
Trump, on the other hand, promised to end Biden’s “war on crypto” by ensuring that “the future of Bitcoin will be made in America” in June 14 remarks in West Palm Beach, FL.
Currently, Biden and Trump are virtually tied in election polling, making their each and every stance urgently more critical in the run up to November.
#btc #biden #binance

As major cryptocurrencies consolidate on Thursday in wake of a volatile Wednesday session that saw markets buffeted by US CPI data and a Fed policy announcement, traders are scouring altcoins markets as they look for the best crypto to buy now that might deliver quick gains.
A softer-than-expected US CPI report sent Bitcoin (BTC) briefly back as high as $70,000 as Fed rate cut bets surged.

However, those Fed rate cut bets were then dampened by the Fed policy announcement. As per the bank’s new “dot-plot”, the median expectation amongst policymakers is for only one rate cut in 2024.
Back in March, the median of policymaker expectations was for three rate cuts this year.

Bitcoin subsequently fell back as low as the $67,000s, though has since recovered to around $68,000.
Ethereum (ETH) was last just above $3,500, hovering above its lowest since mid-May.
Other major altcoins like Solana (SOL), Dogecoin (DOGE), XRP (XRP) and Cardano (ADA) were at or close o multi-week lows.
10x Research, in a recent note, remain bullish on BTC and recommend sticking with it. They note that BTC has tended to rally following softer-than-expected CPI releases recently.

Is Bitcoin the Best Crypto to Buy Now?
But Bitcoin remains stuck within its multi-month $60,000-$70,000ish range, with no breakout in sight.
However, BTC has a lot of potential bullish headwinds coming later in the year – Fed rate cuts, a potential Trump US Presidential election victory, an eventual post-halving easing of miner sell pressure (which remains yet to materialize, with sell pressure remaining elevated for now).
Assuming the price picks up later in the year, Bitcoin could be a great crypto to buy now as it consolidates.
However, for those looking to book bigger than 2x gains this bull market, smaller and lesser-known altcoins might be a better bet.
Here are some strong performers on Thursday that might be the best crypto to buy now.
Livepeer (LPT)
Decentralized video streaming network Livepeer (LPT) is up 13% in the past 24 hours, per CoinMarketCap.
Last in the mid-$24s, LPT is eyeing a test of its 2024 highs around $27. That could open the door to a quick surge towards the cryptos record highs from late 2021 above $100.
Livepeer’s market cap was only last around $800 million, leaving plenty of room for upside this bull market.
The prospect of quick 4x gains makes LPT potentially the best crypto to buy now.
Notcoin (NOT)
Play-to-earn (P2E) TON network-based gaming token Notcoin (NOT) is up 7% in the past 24 hours, per CoinMarketCap.
Last at $0.017, the crypto is trying to find its footing after reaching record highs near $0.030 earlier this month.
The token recently bounced at support from its 21DMA, which was last around $0.015.
Notcoin remains one of 2024’s hottest cryptos. Having only launched in mid-May, its market cap was last around $1.8 billion.
That leaves plenty of room for further upside, making NOT potential the best crypto to buy now.
Toncoin (TON)
Toncoin (TON) is bucking the trend amongst major altcoins and is pumping on Thursday.
As per CoinMarketCap, the crypto was last up 7% in the past 24 hours and trading around $7.50.
That’s not far from the record highs it set recently above $7.80.
Up more than 2x in the past 90 days whilst most of the rest of the market has been consolidating, TON’s bullish momentum could continue. That could make it the best crypto to buy now.
#binance #trading #eth #btc

As Bitcoin tumbles following the SEC’s approval of ether ETFs, market analysts are closely monitoring the next key levels. Bitcoin’s price prediction indicates a potential bullish trend, with BTC/USD currently trading at $69,042.
This update explores the pivotal support and resistance levels, providing insights into the future movements of Bitcoin amidst the shifting regulatory landscape.
SEC Approves Rule Change for Ether ETFs
The SEC has approved a rule change to allow the creation of exchange-traded funds (ETFs) that invest in ether, one of the largest cryptocurrencies. This decision follows the recent success of bitcoin ETFs, which have seen net inflows surpassing $12 billion. The approval comes just in time, aligning with the SEC’s deadline for the VanEck Ethereum ETF decision.

Companies that sponsor bitcoin ETFs, such as BlackRock, Bitwise, and Galaxy Digital, are also starting the process to launch ether ETFs. However, the SEC’s rule change does not guarantee immediate launches, as it only approves the applications from exchanges to list eight different ether funds. The actual launch dates remain uncertain.
Key Points:
Ether prices rose 2% following the SEC’s decision, after a 20% surge earlier in the week.The SEC’s order approves the listing of eight ether funds but does not set launch dates.Initial ether ETFs are expected to be smaller than bitcoin ETFs, with the Grayscale Ethereum Trust holding about $11 billion in assets.
The approval suggests a potential easing of the SEC’s stance on cryptocurrencies, particularly following the agency’s loss in a lawsuit against Grayscale in 2023. This legal outcome paved the way for the approval of bitcoin ETFs and now ether ETFs. Despite this progress, the SEC’s regulatory approach to crypto remains under political scrutiny.
Ether, the second-largest cryptocurrency, underpins the Ethereum network, which facilitates decentralized finance (DeFi) projects, nonfungible tokens (NFTs), and asset tokenization. However, the new ether ETFs in the U.S. may exclude staking, as the SEC views staking-as-a-service offerings as unregistered securities. This exclusion could reduce the attractiveness of ether ETFs compared to bitcoin ETFs.
Richard Kerr from K&L Gates highlighted that the approval does not apply to other crypto projects on the Ethereum network. Steven Lubka from Swan Bitcoin pointed out that ether ETFs might experience lower demand due to structural differences, such as the lack of staking options.
The approval of ether ETFs marks a notable development in the regulatory landscape for cryptocurrencies, signifying the increasing integration of digital assets into mainstream financial products.
Bitcoin Price Prediction
Bitcoin (BTC/USD) is trading at $69,042, showing a modest increase of 0.45% signalling a bullish Bitcoin price prediction. The pivot point, marked by the green line, is at $68,514, serving as a crucial level for trend direction. Immediate resistance levels are observed at $70,029, followed by $71,458 and $73,299.
On the downside, support levels are at $66,394, $64,947, and $63,490. The Relative Strength Index (RSI) is at 48.93, indicating neutral momentum, while the 50-day Exponential Moving Average (EMA) stands at $67,860, providing significant support.

Bitcoin Price Prediction
The price is bolstered by an upward trendline near the $69,000 level. The formation of a series of doji candles above this level suggests potential buying trends above $68,500.
Both the RSI and EMA support the likelihood of a continued bullish trend. Traders should watch for a break above the immediate resistance at $70,029 to confirm further upward movement.
#btc #btc70k #bitcoin #prediction #trading

Bitcoin (BTC), the leading cryptocurrency, struggled to halt its previous bearish trend, hovering around the $67,824 mark and hitting an intra-day low of $66,600. The decline intensified following the release of robust US labor market and Services PMI data, which reduced investor expectations of a September Fed rate cut and decreased demand for riskier assets.
Looking ahead, Bitcoin investors will focus on upcoming comments from Fed officials, particularly Fed’s Waller, who is scheduled to speak on Friday.
Hawkish remarks could weigh on Bitcoin. Furthermore, upcoming US Durable Goods Orders and Michigan Consumer Sentiment Index reports will also influence market sentiment.
Strengthening US Dollar and Positive Economic Data Impact on Bitcoin Prices

The US dollar has strengthened recently due to positive economic data, decreasing the likelihood of a Federal Reserve rate cut in September. This has pressured the crypto market, including Bitcoin.
Atlanta Fed President Raphael Bostic highlighted ongoing inflation concerns, suggesting the Fed might maintain higher rates to avoid economic overheating.
FedWatch Tool: Chances of unchanged rates in September rose from 41.9% to 48.4% on May 23rd.US Initial Jobless Claims: Fell by 8,000 to 215,000 for the week ending May 18.PMI Data: Manufacturing PMI increased to 50.9 in May, Services PMI rose to 54.8, and Composite PMI jumped to 54.4, all surpassing expectations.
The stronger US dollar and positive economic indicators have made crypto investments like Bitcoin less appealing due to higher opportunity costs.
Bitcoin Sees Bullish Trend Amid US Regulatory Changes
Recent regulatory changes in the US have sparked a bullish trend for Bitcoin. Key developments include Congress members urging the SEC to approve spot Ethereum (ETH) ETFs and the passing of the FIT21 bill, which clarifies cryptocurrency regulations.
Additionally, major Bitcoin holders, known as “whales,” have accumulated 20,000 BTC, worth around $1.4 billion, in the past week.
Strong activity in Bitcoin-linked ETFs has also been observed, with $1.7 billion flowing into these funds over the last eight days.
These regulatory changes and positive developments have boosted demand for Bitcoin, with significant accumulation by whales and substantial inflows into spot Bitcoin ETFs.
Bitcoin Price Prediction
Bitcoin (BTC/USD) is currently trading at $67,835, down 2.25% over the past 24 hours, signalling a bearish Bitcoin price prediction. The
Bitcoin price is currently trading at $67,860, down 0.27% over the past 24 hours. The 4-hour chart highlights a pivot point at $68,263. Immediate resistance levels to watch are $70,029, $71,458, and $73,299. On the downside, immediate support levels are at $66,357, $64,947, and $63,490.
The Relative Strength Index (RSI) is at 40, indicating that Bitcoin is approaching oversold conditions. The 50-day Exponential Moving Average (EMA) is at $68,615, suggesting a bearish trend as prices trade below this average.
In conclusion, Bitcoin remains bearish below $68,250. A break above this level could shift the trend to bullish, while a continued decline could see further losses.

Bitcoin Price Prediction
Conclusion: Bitcoin’s current price action suggests a bearish outlook as it trades below the pivot point of $68,263. Immediate resistance levels are at $70,030, $71,450, and $73,300, while support levels are at $66,357, $64,947, and $63,490.
#btc #bitcoin #binance

Bitcoin failed to continue its upward trend despite multiple supporting factors, such as a bearish US dollar and a dovish stance from the Federal Reserve.
BTC lost some of its gains, dropping to around $63,400 and hitting an intraday low of $62,961.
Although Bitcoin began the week on a bullish note after dipping to a low of $56,000 last week, it surged to $64,000 on Monday, spurred by a cooler-than-expected US April jobs report. The report suggested a slowing economy, which could lead to reduced inflation and lower interest rates.
However, the increase in price was short-lived as BTC edged lower on Tuesday, possibly due to cautious sentiment ahead of a speech by Neel Kashkari, the President of the Federal Reserve Bank of Minneapolis. If his comments take a hawkish tone, signaling a stricter approach to interest rates, it could strengthen the US dollar and negatively impact BTC.
Marathon Digital Soars 18%: A Beacon in Bitcoin Mining Amid Market Uncertainty
Marathon Digital Holdings, a prominent player in the Bitcoin mining sector, recently witnessed an 18% surge in its stock price to $20.67, elevating its market capitalization to nearly $800 million. This significant increase followed the announcement that Marathon would be included in the S&P SmallCap 600 Index, underscoring its rising prominence within the cryptocurrency mining industry.

Marathon Digital Holdings Inc (MARA)
Key Points:
Marathon Digital’s stock jumps 18%, market cap approaches $800 million.Inclusion in S&P SmallCap 600 highlights its growing industry importance.The company introduces an executive bonus plan to tie leadership gains to shareholder interests.
Despite Marathon’s stock success, Bitcoin itself has shown bearish trends, trading around $63,200, which reflects a complex sentiment in the broader market. This contrast suggests that while individual companies may thrive, the overall cryptocurrency market remains cautiously optimistic or mixed.
SEC Stalls on Ethereum ETFs While Investment Soars in Bitcoin Options
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on approving Ethereum exchange-traded funds (ETFs) once again, extending the review period for Galaxy Invesco’s application by an additional 60 days to July 5. This delay continues a trend seen in earlier postponements affecting major financial players such as BlackRock and Fidelity, casting doubts on a near-term approval due to ongoing regulatory uncertainties. Analysts are increasingly sceptical about the likelihood of Ethereum ETF approval in the current climate.
Key Points:SEC defers Ethereum ETF decision, extending Galaxy Invesco’s review to July.Historical delays for major applicants like BlackRock and Fidelity enhance regulatory unpredictability.In contrast, significant investments in Bitcoin ETFs, such as Hightower’s $68.35 million, highlight a diverging confidence level between Bitcoin and Ethereum ETFs.
While Ethereum faces regulatory hurdles, investment in Bitcoin ETFs is on the rise, with firms like Hightower directing substantial capital towards them, underscoring a stronger market confidence in Bitcoin. This trend suggests that the market may be favouring Bitcoin over Ethereum amid these regulatory uncertainties, potentially influencing Bitcoin’s price positively in the near term.
Anticipated Fed Rate Cuts Propel Bitcoin Demand Amid Weakening Dollar
The recent U.S. job market report has heightened expectations that the Federal Reserve may cut interest rates later this year, leading to a softer U.S. dollar and increased attractiveness of Bitcoin. Richmond Fed President Thomas Barkin supports maintaining current rates to manage inflation, while New York Fed President John Williams suggests potential rate reductions as early as September or November.
Markets now forecast a total reduction of 46 basis points by 2024, signalling a shift towards a more accommodative monetary policy. This anticipated easing has consequently bolstered Bitcoin’s appeal as a hedge against currency devaluation, driving up demand and potentially its price.
Key Points:Anticipation of Fed rate cuts weakens the dollar, enhancing Bitcoin’s appeal.Potential rate cuts could total 46 basis points by 2024.Increased Bitcoin demand may lead to higher prices.
This growing interest in Bitcoin, spurred by the prospect of lower interest rates, underscores its role as an alternative investment during times of monetary easing, possibly leading to a sustained increase in Bitcoin’s market value.
Bitcoin Price Prediction

On Tuesday, bitcoin price prediction seems bullish. The cryptocurrency is currently trading at $63,535, marking a 0.59% increase. The asset now hovers above its pivot point at $63,002, suggesting a potential bullish trajectory. Immediate resistance levels are identified at $65,512, followed by $67,331 and $69,441, which BTC needs to breach to sustain upward momentum.
Conversely, Bitcoin finds immediate support at $60,928, with further support levels at $58,927 and $56,625 that could provide stabilization in case of a decline. The 50-Day Exponential Moving Average, positioned at $62,631, aligns closely with the pivot point, reinforcing support for potential upward movement.

Bitcoin Price Prediction – Source: Tradingview
Key Points:
Bitcoin’s immediate resistance at $65,512; breaking this could confirm continued gains.Support established around $60,928, crucial for short-term stability.Bullish trend likely if BTC maintains above $63,000; risks of sharp sell-offs if it falls below.
In conclusion, Bitcoin shows signs of a positive trend as long as it remains above $63,000. However, a drop below this critical level could trigger significant selling pressure.
#BITCOIN #BTC #binance #btc

The world’s largest cryptocurrency asset manager Grayscale Investments withdrew its application for an Ether futures exchange-traded fund (ETF) just three weeks before the US Securities and Exchange Commission (SEC) was set to rule on several spot ETH ETFs.
The notice of withdrawal for the Grayscale Ethereum Futures Trust was filed on May 7th, leaving analysts scrambling to understand the sudden shift. The application, filed in September 2023, proposed an ETF that would track Ether futures contracts on the Chicago Mercantile Exchange (CME). If approved, it would have been listed on the New York Stock Exchange.
Grayscale Using Ether Futures ETF as a Strategic Tool?
Bloomberg ETF analyst James Seyffart previously speculated that Grayscale might be using the futures ETF as a strategic tool. He believed it could act as a “Trojan horse,” pressuring the SEC to approve a spot Ether ETF – a product that directly tracks the price of Ethereum itself.
However, Seyffart’s confusion mirrored the broader market sentiment. The withdrawal comes just weeks before the SEC has deadlines to rule on several spot Ether ETF applications from other companies, including VanEck (May 23rd), ARK 21Shares (May 24th), and Hashdex (May 30th).
Earlier this week, the SEC announced a delay in its decision regarding the Invesco Galaxy spot Ethereum ETF, setting the next deadline for July 5, 2024.

Cryptonews Ethereum News  Grayscale Withdraws Ether Futures ETF Application Before SEC Decision.
    

The world’s largest cryptocurrency asset manager Grayscale Investments withdrew its application for an Ether futures exchange-traded fund (ETF) just three weeks before the US Securities and Exchange Commission (SEC) was set to rule on several spot ETH ETFs.
The notice of withdrawal for the Grayscale Ethereum Futures Trust was filed on May 7th, leaving analysts scrambling to understand the sudden shift. The application, filed in September 2023, proposed an ETF that would track Ether futures contracts on the Chicago Mercantile Exchange (CME). If approved, it would have been listed on the New York Stock Exchange.
Grayscale Using Ether Futures ETF as a Strategic Tool?
Bloomberg ETF analyst James Seyffart previously speculated that Grayscale might be using the futures ETF as a strategic tool. He believed it could act as a “Trojan horse,” pressuring the SEC to approve a spot Ether ETF – a product that directly tracks the price of Ethereum itself.
However, Seyffart’s confusion mirrored the broader market sentiment. The withdrawal comes just weeks before the SEC has deadlines to rule on several spot Ether ETF applications from other companies, including VanEck (May 23rd), ARK 21Shares (May 24th), and Hashdex (May 30th).
Earlier this week, the SEC announced a delay in its decision regarding the Invesco Galaxy spot Ethereum ETF, setting the next deadline for July 5, 2024.

Analysts Not Hopeful for ETH ETF Approval
The SEC’s stance on spot Ether ETFs remains unclear. In a recent interview with CNBC, SEC Chair Gary Gensler acknowledged the applications but offered no specific timeline for a decision. “That’s something in front of our Commission right now,” he stated. “We’re a five-member Commission, and those filings will be taken up at the appropriate time.”
Grayscale’s withdrawal leaves the fate of spot Ethereum ETFs hanging in the balance. While applications from Invesco Galaxy, BlackRock, and Fidelity are still expected in the coming months, industry experts anticipate a similar batch decision-making process from the SEC, mirroring its approach with spot Bitcoin ETFs in January 2023.
Bloomberg analyst James Seyffart has expressed scepticism, suggesting the current round of Ethereum ETF applications might ultimately be denied.

#eth‬ #btc

A United States District Court has imposed sanctions on the United States Securities and Exchange Commission for gross abuse of power and acting in bad faith in a lawsuit against Debt Box. 
The Securities and Exchange Commission initially conceded it misled the court but maintained that a sanction was inappropriate. The regulator must now pay the attorneys’ fees for Debt Box. 
SEC Sanctioned 
Chief Judge Robert Shelby ruled that the Securities and Exchange Commission must pay all legal costs for Debt Box. The court ruled that the regulator had committed a gross abuse of power in securing a temporary restraining order against the company. In an order passed on Monday, Chief Judge Robert Shelby wrote that SEC attorneys misled the court in applying for a restraining order and later when Debt Box filed to dissolve the order. 
“The Commission’s above-discussed conduct constitutes a gross abuse of the power entrusted to it by Congress and substantially undermined the integrity of these proceedings and the judicial process. The bad faith in inextricable from the abusive conduct and a sanction of attorneys’ fees and costs for all expenses resulting from that conduct is appropriate.”
The court noted that the order focused on the restraining order, not the underlying case. 
“Each piece of support the Commission offered in seeking the TRO – and then later reiterated in defending the TRO – proved to be some combination of false, mischaracterized, and misleading. Further, the Commission not only repeated and affirmed its misrepresentations in the face of contrary evidence. It presented new falsehoods to the court in an effort to subtly shift from its previous misrepresentations without acknowledging its previous errors.”
The SEC Vs Debt Box 
The Securities and Exchange Commission claimed that Debt Box perpetrated a fraudulent cryptocurrency scheme in its operations as a mining license provider. When requesting the temporary restraining order and asset freeze, the SEC claimed that Debt Box had already sent over $720,000 overseas and could potentially flee to the United Arab Emirates and secretly transfer more assets. 
While the request was initially approved, Judge Shelby reviewed the initial offer and concluded that the SEC wilfully misrepresented evidence and that the $720,000 transfer was sent within the United States and not overseas. 
Court Raps SEC
Judge Shelby had given the SEC a show-cause order in December, asking the commission to explain its actions to the court. The SEC accepted that while its actions were inappropriate, a sanction was uncalled for. Judge Shelby singled out SEC attorney Michael Welsh in particular, stating, 
“Welsh knew his statement from the TRO hearing was incorrect. Rather than correcting the misstatement, he and the Commission attempted to subtly shift the language to gloss over and perpetuate the misconduct.”
Austin Campbell, the founder of Zero Knowledge Consulting, and many others in the crypto space, believe that the SEC staff involved must have personal liability for such conduct and called for reform within the agency. 
“The staff involved should be terminated, the agency should be reformed, and going forward, SEC lawyers should have personal liability for such conduct, in addition to the agency itself. What is described here is unconscionable for those entrusted with such authority by law.”