#Write2earn
ZkSync Airdrop Boosts ZK Token to $900M TVL Despite Initial Hurdles
#ZKSYNC $ZK #AIRDROP #ZKsyncAirdrop

ZK Token Launch
The new ZK token, despite a 20% drop, boasts a market cap of over $900 million in total value locked (TVL).

High Engagement from ZkSync Airdrop
ZkSync’s airdrop on June 17 created significant excitement, with 45% of tokens claimed by 225,000 addresses within two hours. The surge in activity caused some network slowdowns, prompting capacity enhancements.

Anticipation and Background
The airdrop was eagerly awaited following Matter Labs’ launch of zk-EVM in March 2023, which increased its popularity. This, along with Arbitrum's recent token release, boosted interest in ZkSync Era, now ninth among Layer 2 networks with $776.4 million in TVL and 6.9 TPS.

ZkSync Lite and Eligibility
Launched in June 2020, ZkSync Lite focuses on fast and affordable transfers. Eligibility for the airdrop required users to transfer assets to ZkSync Era and meet additional criteria. About 17.5% of the token supply was distributed to 695,000 wallets, each receiving 450 to 100,000 tokens.

Market Performance
The ZK token’s market cap is $927 million, with a fully diluted valuation of nearly $5.3 billion, despite a recent 20% decline.

#Write2earn
Bitcoin Chart Patterns Signal Potential Breakout
#bitcoin☀️ #BTC☀ #BitcoinAnalysis #BitcoinPrediction $BTC

Bitcoin has been in a bit of a lull since its all-time high back in mid-March, experiencing 15 weeks of sideways and slightly downward price movement. Despite this, there are three chart patterns emerging that suggest Bitcoin could be poised for significant gains.

Bitcoin’s Current Market Status
Currently, Bitcoin appears subdued, leading some to believe that it peaked in March and has been gradually declining. This perspective is gaining traction on social media. However, Bitcoin remains in a bull trend, and historical bull market corrections have been more severe. Bitcoin is only 11% below its all-time high, indicating there’s no immediate cause for concern.

Promising Chart Patterns
While Bitcoin's price action has been relatively stable, several chart patterns indicate the potential for an exciting upward trend.

Inverse Head and Shoulders
This pattern is the least likely to yield significant gains but is still noteworthy. Bitcoin's price is near the neckline of the pattern, and a daily close below this level would invalidate it. However, if the pattern holds and Bitcoin rebounds, it could push the price to a new all-time high of over $75,000.

Bull Flag
The bull flag is one of the most bullish patterns, particularly on higher time frames. Measuring from the $38,500 price point in January, this pattern suggests a potential move to just over $94,000 for Bitcoin. This would represent a substantial gain and a new record high.

Cup and Handle
The cup and handle is the most bullish pattern currently forming for Bitcoin. The cup spans from the peak of the previous bull market in 2021, through the bear market of 2022-2023, to the recent all-time high in March. The handle is still developing and might involve further sideways movement. If Bitcoin can break above $71,500, this pattern could drive the price to around $126,000, based on the measured move from the cup's bottom to the neckline.

#Write2earn
Flow Blockchain Surpasses Decentraland in NFT Development Activity: Santiment Report
$FLOW $MANA #NFT #NFTactivity #DeFi #MANA

A proof-of-stake blockchain has overtaken the Ethereum-based virtual reality platform Decentraland (MANA) to become the leading NFT-related crypto project in development activity, according to analytics platform Santiment.

Flow (FLOW) Leads in Development Activity
Santiment reports that Flow (FLOW), a layer-1 permissionless blockchain, recorded 190.77 notable GitHub events over the past 30 days. This surpasses Decentraland, which registered 144.9 events. Metaplex (MPLX), an NFT platform on Solana (SOL), ranked third with 23.07 events, followed by Axie Infinity (AXS) with 17.97 events.

Superior Methodology for Tracking Development
Santiment emphasizes that it does not count routine updates and uses a refined methodology to track GitHub events based on a backtested process.
The firm previously noted that significant development activity around a crypto project indicates strong developer confidence in the protocol and suggests that the project is less likely to be an exit scam.

Shifts in Top Crypto Gaming Projects
Decentraland recently dropped from the top position in Santiment's list of leading crypto gaming projects by development activity, now ranking second behind MultiversX (EGLD), a decentralized proof-of-stake blockchain network with over 3,000 nodes.

Current Market Performance
As of the time of writing, Flow (FLOW) is trading at $0.735. The 84th-ranked crypto asset by market cap has seen a nearly 6% decline in the past 24 hours.

#Write2earn
Bitcoin's Realized Price Levels: Key to Navigating Market Volatility
#BitcoinAnalysis #BitcoinDrop #Bitcoin #BinanceTournament $BTC

Bitcoin Hits One-Month Low, New Targets Set
Bitcoin has hit a one-month low, dropping to $64,950 on Bitstamp, sparking concerns of a further decline below $60,000.
Traders are now focusing on new price targets and potential support levels.

Price Tracking and Support Levels
On June 14, Bitcoin saw a 3.5% drop, contributing to a week-to-date loss of over 6.7%. Keith Alan from Material Indicators highlighted the loss of technical support at the 50-Day Moving Average, warning of potential drops to $60,000 or lower if the $65,000 support fails.

Hodlers' Realized Price Levels
Axel Adler Jr. from CryptoQuant emphasizes the importance of hodlers' realized prices, the average buy-in price for different holding durations. Short-term holders (up to 155 days) have a realized price of $62,200, crucial for maintaining the bull market. Longer-term holders have realized prices at $55,500 and $24,300.

Concerns and Market Sentiment
If Bitcoin revisits $60,000, it could drop further to $48,000, warns trader Peter Brandt. Skew noted significant bid liquidity around $62,000, indicating strong buyer interest. CoinGlass data also shows increasing liquidity at $64,900, suggesting support just below current levels.

Conclusion
As Bitcoin navigates this volatile period, the support at $65,000 and hodlers' realized prices will be critical in determining its next move. Traders are closely watching these levels to gauge the market's direction.

#Write2earn
Memecoin Leaders PEPE and WIF See Sharp Declines: Market Update
#Memecoins #Memecoin #PEPE #WIF $WIF $PEPE

Leading memecoins have faced notable declines, with PEPE and WIF dropping 15% and 25%, respectively, in the past seven days.

After a strong performance throughout May, top memecoins have suffered substantial losses in the past week.

DOGE, SHIB, and PEPE have all seen declines exceeding 10% over the last seven days, while WIF has plummeted by 26% during the same period. Despite their standout performances earlier in 2024, the recent market volatility has dealt a severe blow to the sector.

Memecoins have been on a downward trend since the start of June, exacerbated by a recent market selloff. This decline coincides with increased scrutiny on memecoins, particularly those backed by celebrities, which have launched on Solana in the past month.

Volatility is inherent in memecoins, and although PEPE remains up by 12% over the last 30 days, it has been affected by the recent downturn.

Conversely, WIF, the leading memecoin on Solana, has experienced a 15% decline in the same period, positioning it among the weakest performers in the top 50 tokens by market cap.

#Write2earn
ROCKET POOL (RPL) SURGES OVER 80% AMIDST STRONG MARKET PERFORMANCE
#RocketPool #CryptoGainers $RPL

According to Foresight News, Rocket Pool (RPL) has experienced a significant short-term surge, breaking through 34 USDT before settling at 28 USDT. This marks an increase of over 80% in the past 24 hours, highlighting strong market performance for the cryptocurrency.

The exact reasons behind this sudden rise remain unclear, and investors are advised to closely monitor market trends for Rocket Pool (RPL).

There is no official information shared on the Rocket Pool X account.

Rocket Pool — Houston Launch
The only new Information and update about Rocket Pool is about the next major upgrade “Houston” which has been under development for the last 9 months and will be going live in lee than a week on the 17th June!

This upgrade isn’t all about creating a long-term decentralised form of governance for the protocol, we’re also introducing some new very useful features that will also enable additional layers and applications to be built on top of the base protocol.

You can have more information by visiting the official announcement on Medium by Rocket Pool

About Rocket Pool
Rocket Pool is Ethereum’s most decentralized liquid staking protocol. Liquid stakers can participate by depositing as little as 0.01 ETH to receive the rETH liquid staking token. Rocket Pool offers a fully non-custodial solution, ensuring that node operators are economically aligned to perform well for stakers. Joining as a node operator is permissionless and requires just 16 ETH, compared to the usual 32 ETH. Node operators benefit from a boosted ROI through operator commissions and RPL rewards. The Rocket Pool team, with their extensive experience since 2016, brings unparalleled expertise to the staking space.

#Write2earn
Azuro Partners with Olas to Develop AI Agents for Enhanced Prediction Markets
#AZURO #OLAS #AI #AZUR

Azuro, a leading liquidity layer for on-chain predictions, is teaming up with Olas, a top network for autonomous AI agents, to enhance its ecosystem with advanced AI capabilities.

Azuro's Growing Influence
Azuro is a frontrunner in sports and entertainment prediction markets on EVM chains, hosting over 25 active apps with more in development. Its unique liquidity pool design and oracle solutions allow apps to launch without upfront costs, letting developers focus on user acquisition and monetization. Over the past year, Azuro's transaction volumes have surpassed $350 million, generating over $3 million in protocol revenue, making it the top revenue-generating protocol on Polygon.

AI Integration with Olas
Olas offers a stack for developing autonomous AI services, represented on-chain by smart contracts. This partnership will integrate Olas AI technology into Azuro's prediction markets. The Azuro AI agent will learn to predict sports event outcomes accurately, utilizing market data to provide insights and enhance predictive capabilities for participants.

Future Prospects
Rossen, a core contributor at Azuro, stated, "We are setting the basis for AI agents to integrate and operate within the Azuro ecosystem. This could empower new applications beyond sports, like political forecasting and entertainment events."

Exciting Opportunities
Azuro will also host a hackathon to provide tools for developing new autonomous agents, expanding use cases in prediction markets. This partnership marks a significant step forward for Azuro's developers and users, opening new possibilities for market analysis and prediction.

#Write2earn
CURVE FOUNDER FACES MAJOR CRV LIQUIDATION AFTER $95.7M STABLECOIN LOAN
#CurveFinance #Curve #CRV $CRV

Michael Egorov, founder of Curve Finance, recently faced substantial liquidations of his CRV holdings after borrowing $95.7 million in stablecoins. Despite this setback, Egorov remains dedicated to Curve’s future.

Commitment to Curve's Future
Egorov tweeted, "I am committed to building Curve more than ever, thanks to game-theoretical implications of veTokenomics (mostly have veCRV now).” He plans to focus on making Curve’s lending and borrowing products the safest in the industry, educating traders on orderly liquidations, and encouraging users to deposit crvUSD, Curve’s stablecoin.

Understanding VE Tokenomics
VE tokens, non-transferable assets issued for locking up governance power, allow holders to vote on new token emissions. This led to the "Curve Wars" in 2021, with DeFi protocols competing to direct CRV rewards to Curve liquidity pools.

Liquidation Events
On June 12, Arkham Intelligence warned Egorov was at risk of liquidation if CRV’s price dropped another 10%. By June 13, Lookonchain reported his positions entered liquidation after a 20% price drop. His positions were reduced to $33.9 million in CRV backing $20.6 million in loans. CRV’s price fell 36% over seven days but rebounded 14% after Egorov’s liquidation.

Market Reactions
Despite the liquidation, many believe Egorov wasn’t significantly harmed. Ethereum developer Eric Conner tweeted, "Michael did not get ‘rekt’ by being liquidated on his CRV... Selling it on market would have resulted in similar prices and a pissed community." Anthony Sassano, host of The Daily Gwei podcast, noted, "He just transferred the rektage to the community instead."

Financial Moves
Lookonchain revealed Egorov had "already cashed out and bought a mansion in 2023." On-chain records show he transferred $31 million in borrowed USDT to Bitfinex in April 2023. His wife purchased a $41 million mansion in Melbourne, alongside a home bought for $18.25 million the previous year.

#Write2earn
BlackRock’s IBIT Defies Trend with Net Inflows Amidst Widespread Bitcoin ETF Outflows
#BitcoinETF #ETF #ETFoutflows #Bitcoin $BTC

On Thursday, BlackRock’s IBIT was the only exchange-traded fund (ETF) to post a net inflow, while most other funds experienced significant outflows.

U.S.-listed bitcoin (BTC) ETFs saw over $226 million in net outflows on Thursday, marking the third consecutive day of outflows this week. This trend echoes the wave of withdrawals observed at the end of April.

According to preliminary data from SoSoValue, Fidelity’s FBTC faced the highest outflow, with $106 million withdrawn. Grayscale’s GBTC saw $62 million in outflows, and Ark Invest’s ARKB experienced $53 million in withdrawals.

In contrast, BlackRock’s IBIT recorded a net inflow, gaining $18 million. ETFs from Valkyrie, Franklin Templeton, Hashdex, and WisdomTree reported no significant inflow or outflow activity.

This week, Wednesday was the only day to see a net inflow for these U.S.-listed products, adding $100 million. The overall activity coincides with a volatile week for bitcoin and the broader crypto market, centered around Wednesday's critical U.S. inflation report and the Federal Reserve meeting.

The total net outflows over the past three days amount to $564 million, which is nearly half of the $1.2 billion withdrawn during a six-day period at the end of April. The U.S. inflation report came in lower than expected, momentarily boosting bitcoin prices to $70,000 from $68,000, before prices fell below $67,000 as traders likely took profits on the surge.

#Write2earn
Meme Coins Outshine Bitcoin: TRUMP and WIF Lead Crypto Market Gains
#Memecoins #Memecoin $WIF $BOME $BONK

Over the past year, Bitcoin (BTC) has surged 168% against the U.S. dollar, but meme coins have truly stolen the spotlight. Seven of the top ten gainers are meme coins, including TRUMP, WIF, BOME, BONK, MOG, and TURBO.

Top Performers in the Crypto Market
From June 2023 to June 2024, meme coins led the market surge. While BTC and ETH saw gains of 168% and 109% respectively, meme coins saw astronomical growth. The presidential meme token MAGA (TRUMP) topped the list with a 122,000% increase.
Dogwifhat (WIF) followed with over 58,000% growth. Other notable gainers included BOME (17,000%), BONK (10,000%), MOG (8,000%), and TURBO (4,900%).

Notable Decliners
Not all coins performed well. The Wormhole token W declined by 59%, Rocket Pool’s RPL fell 51%, and APE dropped 49%. Other significant losers included DYDX (-46%), CRV (-43%), CSPR, KAVA, GMX, PIXEL, and FXS, highlighting the volatility in the market.

Humor and Novelty Drive Gains

The past year shows a clear trend:
meme coins, fueled by humor and novelty, captured significant market attention and financial momentum. While traditional assets like BTC and ETH posted solid gains, the explosive rise of meme coins underscores their unique appeal and potential for extraordinary returns.

Conclusion
Meme coins are reshaping the crypto landscape, highlighting the evolving nature of digital assets. Investors should stay informed and consider the distinct factors driving this segment of the market.

#Write2earn

MicroStrategy to Issue $500 Million in Convertible Notes for Bitcoin Acquisition
#Microstrategy #MSTR #MIchealSaylor #Bitcoin $BTC

MicroStrategy, led by Michael Saylor, continues its bold cryptocurrency strategy with a $500 million convertible senior notes offering.
This move, aimed at institutional investors, emphasizes the firm's commitment to expanding its Bitcoin holdings through strategic debt leveraging.

Key Highlights of the Offering
MicroStrategy plans to issue unsecured convertible senior notes due in 2032, targeting funds primarily for Bitcoin acquisitions. Investors can convert notes into cash, MicroStrategy stock, or both from December 2031, aligning potential gains with stock performance.

Strategic Bitcoin Focus
Choosing convertible notes underscores MicroStrategy's confidence in Bitcoin's long-term potential. By linking notes to stock options, the company incentivizes investors, reflecting its bullish outlook driven by Bitcoin's market performance.

Steadfast Amid Market Dynamics
Despite market volatility, MicroStrategy remains resolute in its Bitcoin investment strategy. Recent offerings totaled $603.75 million and $800 million, boosting its Bitcoin holdings to approximately 214,400 coins as of April 29.

Market Reaction and Future Prospects
MicroStrategy's stock (MSTR) responded variably post-announcement, reflecting market sentiment influenced by Bitcoin's fluctuations and economic indicators. Despite short-term market movements, recent Bitcoin rallies bolster investor confidence in MicroStrategy's crypto-centric approach.

This strategic move positions MicroStrategy at the intersection of traditional finance and cryptocurrency, navigating market dynamics with a forward-looking investment strategy.

#Write2earn
DOGECOIN’S PATH TO RECOVERY: TECHNICAL ANALYSIS AND MARKET OUTLOOK
#Dogecoin #Doge $DOGE #memecoin

Dogecoin (DOGE) has shown a modest 2% gain amid a recent cryptocurrency market correction, hinting at a potential breakout of up to 76% this week driven by meme coin momentum.

Analysis Points to Breakout Potential
Despite sluggish recovery, DOGE faces a critical resistance at $0.15. Analysts foresee a breakout to $0.20 if this level is breached, marking a 76% surge amidst increasing meme coin traction.

Technical Insights
Consolidating within a descending triangle, DOGE signals a potential upward breakout with a 34% probability. Trading below the 50-day moving average but supported above the 200-day moving average, DOGE reflects balanced sentiment with an RSI of 46.

Critical Levels and Future Prospects
DOGE nears a pivotal point at the triangle's apex, with $0.12–$0.13 as key support. A breakout above could propel DOGE to $0.27, while downside targets include $0.12, $0.09, and $0.07.

Market Dynamics and Influences
With a $20 billion market cap and rising volume, DOGE gains traction. Elon Musk's endorsements and potential Tesla integration as payment methods buoy sentiment. Rumors of DOGE's role in Musk's X platform add to its appeal.

Looking Ahead
As a meme coin pioneer, DOGE's future hinges on broader market trends, economic indicators, and potential macroeconomic shifts. These factors may propel DOGE and the cryptocurrency market to new heights.

#Write2earn
TONCOIN (TON) SURGES TO $7.64 WITH GOLDEN-CROSS FORMATION: WHAT’S DRIVING ITS RALLY?
#TONCOIN #TON $TON #TheOpenNetwork
#Altcoins

Toncoin (TON), the native token of The Open Network Layer-1 blockchain, has reached a significant milestone, trading at $7.64 and boasting a market cap of $18.5 billion.

This surge positions Toncoin as the ninth largest crypto by market size.

Golden-Cross Formation Boosts Toncoin's Bullish Sentiment
Toncoin's technical analysis reveals a golden-cross formation, where the 50-day moving average has surpassed the 200-day moving average. This pattern signals a potential long-term uptrend for the altcoin, bolstering market sentiment.

Technical and Social Indicators Favor Toncoin's Rally
With the RSI indicator at a favorable 62, Toncoin shows further upside potential before nearing overbought levels.
Social metrics such as social volume and dominance have turned bullish over the past week, often preceding market rallies. Additionally, the number of Toncoin holders has increased, indicating growing investor confidence.

Growth in Toncoin's Ecosystem
The Toncoin blockchain has experienced robust growth, attracting DeFi developers and reaching a Total Value Locked (TVL) close to $1 billion. Active Toncoin wallets have surged from 1.28 million to over 8 million, reflecting increasing user adoption.

TapSwap and Airdrop Initiatives
TapSwap, with a global user base of 49 million, plays a pivotal role in the Toncoin ecosystem. An upcoming airdrop aims to enhance user engagement by facilitating token conversions to fiat, further driving Toncoin's utility and adoption.

#Write2earn
TERRA TOKENS RALLY: LUNA AND LUNC SEE BULLISH TRENDS AMID POSITIVE SEC NEWS
#TerraLab #SEC #LUNA #LUNC $LUNA $LUNC

After two years of decline, Terra tokens (LUNA and LUNC) are seeing a significant resurgence driven by positive SEC case developments.

Investor Optimism
Terra tokens are sparking investor hope with current bullish trends suggesting potential gains for LUNA and LUNC holders. The anticipated altcoin season could further boost their value.

Price Surge Analysis
LUNA: After a 97.13% drop from its peak, LUNA recently surged to $0.5973 before settling at $0.5429. It now ranks 150th on CoinMarketCap with a market cap of $415.8 million and a 102% increase in trading volume to $61.7 million.
LUNC: Facing a 99.99% drop since its peak, LUNC is currently priced at $0.0001027, up 1.18% from yesterday. Its market cap is $594.1 million with a 40% increase in trading volume to $37 million.

Reasons for the Increase
The broader crypto market turned bullish after the CPI data release, aiding the recovery of Bitcoin and sparking a surge in LUNA and LUNC.
Positive SEC settlement news and ongoing upgrades in the Terra Luna Classic network have boosted investor sentiment.

Technical Indicators
Technical indicators show a strong buying zone for LUNA, with the RSI at 57.26, indicating a healthy presence of buyers.

Conclusion
The recent surge in Terra tokens, fueled by positive SEC news and market conditions, offers a hopeful outlook for investors. With the altcoin season approaching, LUNA and LUNC may continue to see significant gains.

#Write2earn
ETF Inflows Surge as Bitcoin Faces Fed's Rate Projections , 10xResearch take
#Bitcoin #BitcoinETF #CPI_DATA #FedRates $BTC

Bitcoin ETFs experienced renewed inflows on Wednesday after lower-than-expected U.S. inflation figures.

Federal Reserve Update
The Fed held the interest rate steady at 5.25%-5.5%, reducing its forecast for rate cuts this year from three to one.
Bitcoin dropped to $67,400 after the Fed’s announcement, despite rising to $70,000 following the CPI report.

10x Research's Take

10x Research remains bullish on Bitcoin.
Founder Markus Thielen advises sticking with Bitcoin, expecting the rally to resume.
Thielen notes that lower CPI numbers typically boost Bitcoin prices.

Inflation and ETF Trends
May’s inflation was flat, missing the 0.1% increase estimate and down from April’s 0.3%.Year-on-year inflation held at 3.3%, down from April’s 3.4%.

ETF Inflows
ETFs saw $100 million in inflows on Wednesday, ending a two-day outflow streak.
ETF inflows had paused after their January debut due to high December CPI figures but resumed in February, lifting Bitcoin prices.

Thielen expects the Fed to signal more rate cuts later this year as inflation has peaked.

#Write2earn
ZKsync to Airdrop 3.675 Billion Tokens Starting June 24

#ZkSync #Airdrop #Rollup $ZK #ZK

The ZKsync Association will airdrop 3.675 billion ZK tokens, or 17.5% of the total supply, to community members starting June 24, with the distribution ending on January 3, 2025.

These tokens, part of the 21 billion total supply, can be used for governance within the ZKsync protocol, enabling holders to vote on upgrades and pay network fees.

Token Allocation
The 21 billion ZK tokens are allocated as follows:
49.1% to ecosystem initiatives17.2% to investors16.1% to Matter Labs, the developers behind ZKsync
Team tokens will be locked for one year, gradually unlocking from June 2025 to June 2028. The community airdrop ensures the largest supply of liquid tokens for governance decisions.

Airdrop Details
Eligible Wallets: 695,232 based on activities recorded by March 24, 2024Distribution: 89% to users, 11% to contributorsCap: 100,000 tokens per address
ZKsync uses a points system for token distribution, rewarding activities like interacting with smart contracts, providing DeFi liquidity, and trading ERC-20 tokens. Wallets with fewer than 450 ZK tokens will have their allocations recycled to ensure a minimum of 917 ZK per wallet.

Current TVL
ZKsync, the third-largest zero-knowledge proof-based Ethereum Layer 2 solution, has over $750 million in assets. The total value locked (TVL) peaked at $930 million in March but has since decreased.

This significant airdrop aims to strengthen community participation and governance within the ZKsync ecosystem.

#Write2earn

Bitcoin ETFs Experience Significant Outflows Amid Economic Uncertainty

#BitcoinETF #ETF #Bitcoin #Grayscale $BTC

U.S.-listed spot Bitcoin ETFs experienced significant outflows for the second day, with traders mitigating risk before crucial macroeconomic announcements. On Tuesday, eleven ETFs saw $200 million in net outflows, the highest since $580 million on May 1. This sell-off briefly pushed BTC prices to $66,200 before a quick recovery.

Grayscale Leads the Outflows
Grayscale’s GBTC was hit hardest, accounting for $120 million of the outflows. Since January, GBTC has faced $18 billion in cumulative outflows, making it the worst-performing ETF. Other ETFs, including Ark Invest’s ARKB, Bitwise’s BITB, Fidelity’s FBTC, and VanEck’s HODL, also saw significant outflows, with no inflows reported.

Market Reaction to Upcoming Announcements
Analysts link these outflows to traders' risk-averse actions ahead of the Consumer Price Index (CPI) reading and the Federal Open Market Committee (FOMC) meeting, where the Federal Reserve's monetary policy decisions will be announced.

"Markets are in risk-off mode ahead of CPI and FOMC," noted QCP Capital. Despite short-term challenges, they maintain a long-term bullish outlook, citing potential bullish events like the launch of an ETH spot ETF and the political battle for the crypto vote between Biden and Trump.

Upcoming Market Movers
Treasury Secretary Janet Yellen's speech on Friday could also impact cryptocurrencies. This period of volatility highlights the importance of staying informed about macroeconomic factors affecting crypto investments.

#Write2earn

Market Awaits FOMC Meeting as Bitcoin Faces Key Support Levels

#FOMC #InterestRate #CryptoMarket #FED $BTC $ETH

The Federal Reserve's upcoming FOMC meeting on Tuesday and Wednesday will release key inflation data. While interest rates are expected to stay unchanged, market uncertainty is causing Bitcoin to fluctuate.

Confusing Jobs Data Adds to Uncertainty

Recent U.S. jobs data has muddled the economic outlook. The Bureau of Labor Statistics reported 270,000 new jobs in May, while the Household Survey showed a loss of 408,000 jobs. This conflicting data raises suspicions of economic manipulation.

FOMC Meeting: Rates Expected to Hold Steady

The market expects the Fed to keep interest rates unchanged, following rate cuts by Canadian and European central banks. Prolonged high rates could limit liquidity for Bitcoin's next bull run, but a rate cut might be necessary later due to rising debt and potential currency printing.

Bitcoin Faces Rejection: Key Support Levels to Watch

Bitcoin is pulling back from the top of its bull flag, testing support around $67,000. A bounce is possible, but if $67,000 fails, Bitcoin could find support at $63,000 or $64,000. The weekly close will be critical, with the stochastic RSI hinting at a possible bearish crossover.

#Write2earn

Cardano Prepares for Chang Fork and Complete Decentralization
#Cardano #Altcoins #CardanoUpdate #Blockchain $ADA

Cardano is entering the final stage of its journey to becoming a fully decentralized blockchain. Co-founder Charles Hoskinson announced the transition will occur later this month.

Preparing for the Chang Fork
Stake pool operators (SPOs) must upgrade to the latest node software, followed by a hard fork transitioning Cardano to the Voltaire era. Currently, the blockchain is in the Basho era.

Transition to Voltaire Era
Hoskinson stated, “June is the month Cardano Node will reach 9.0, making it Chang fork ready. Once 70% of SPOs install the new node, a hard fork will push Cardano into the Age of Voltaire.” He added that this will introduce advanced blockchain governance, annual budgets, a treasury, and community-led guidance.

Governance and Future Developments
The first phase of Voltaire will implement CIP 1694, enabling ADA holders to vote on key issues. Future features include proxy participation and treasury withdrawals, allowing users to propose and fund projects within the ecosystem.

#Write2earn
Meme Tokens Plummet as GameStop Stock Faces Sharp Decline
$DOGE $gme $FLOKI $SHIB #catThemedMeme #Memecoin #Gamestop #TheRoaringKitty

In the past 24 hours, a Solana-based meme token parodying the GameStop (GME) company has dropped by 25%, reflecting broader declines among meme tokens that tend to move in tandem with GameStop.

GameStop Stock Decline
The controversial rally of GameStop (GME) stock experienced a sharp reversal for the second consecutive day on Monday, closing the U.S. trading session down 12% after a dramatic 40% drop on Friday. This downturn impacted several meme tokens that often mimic GME’s movements.

Meme Token Performance
GME stock finished Monday’s trading at $24.89, a significant 62% drop from its two-year high of $61 reached last Thursday. Similarly, the Solana-based meme token GME, which parodies the company, fell 25%, reversing a remarkable 200% rally from the previous week.

Other related tokens, such as Roaring Kitty (KITTY) and various cat-themed tokens that typically follow GME stock, saw average losses of at least 10%, according to CoinGecko data. Dog-themed tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI) also pared gains from the last week, falling between 4% and 10%.

Retail Trader Influence
The volatility in GME stock began in late May with the return of retail trader and GME enthusiast Keith Gill, also known as @TheRoaringKitty and "Deep*****Value." Gill played a pivotal role in the 2021 short squeeze rally. Last week, he showcased a $580 million position in GME equity and options, briefly boosting the stock's prices and positioning him for potential billion-dollar exposure.

Market Reaction
However, these gains were quickly wiped out after GameStop announced plans to sell up to 75 million shares, just days after raising $933 million by selling 45 million shares. Additionally, the company reported a drop in quarterly sales, which further dampened investor sentiment.