🔥🔥🔥 Wall Street Journal: The U.S. federal government is investigating Tether for possible violations of sanctions and anti-money laundering regulations.

The U.S. Treasury Department has considered imposing sanctions on Tether.

Circle Launches USDC on Sui Network

Stablecoin publisher Circle is expanding its USD Coin (USDC) issuance and deploying the Cross-Chain Transfer Protocol on the Sui layer 1 blockchain. The integration of USDC on the Sui Network will enhance Sui’s utility and interoperability for users and developers, increase liquidity, streamline trading, and improve market efficiency across the ecosystem.

$BTC
🔥Bitcoin's Stablecoin Supply Ratio (SSR) just hit a 2-year low, similar to the level seen in June 2022.

Abundant stablecoin supply: A low SSR indicates that the amount of stablecoins in the market is very large compared to Bitcoin's market capitalization.

High buying potential: This large amount of stablecoins represents significant potential buying power in the market. Many investors are holding stablecoins, ready to convert to Bitcoin when they see the right opportunity.

Positive sign: Historically, periods of low SSR have been accompanied by subsequent Bitcoin price increases, as the chart shows with the green arrows.

Reversal Possibility: This situation suggests that the market may be in an accumulation phase, with upside potential in the near future

In short, the current low SSR reflects a large amount of “ammunition” in the form of stablecoins waiting for an opportunity to enter the market.

🔥Bitcoin prices are fluctuating very close to the average production costs of Bitcoin mining companies

Thus, there is no selling pressure except for two main sources. One is from the German government, the other is from the media and public opinion, creating negative sentiment about Bitcoin.

Dear holders, keep your hands up, no matter what the market is like in the near future, in the long run everything will be fine 😁

🔴 Within the last 24 hours, 105,550 traders were liquidated, with a total liquidation value of $295.66 million.
🔴 The largest liquidation order occurred on Huobi - BTC-USD value was $10.49M.

⚠️ Never invest more than what you can afford to lose.
⚠️ Don't try to make money quickly.
⚠️ High leverage does not bring you more money
⚠️ Eat less to live longer to eat more
#Short

Overview of the Layer-2 picture 📌📌📌

🟢 TVL
➡️ Arbitrum and Base are two Layer-2 projects with impressive growth in TVL in the first half of 2024.
Arbitrum increased 2.4 times compared to the beginning of the year (from 1.3 million USD to 3.1 million USD), Base increased 3.8 times compared to the beginning of the year (from 443 million USD to 1.7 million USD).

➡️ Besides, Mode Network - Layer-2 project built based on OP stack technology has seen TVL grow more than 20 times since mainnet, becoming the Layer 2 with the largest growth in TVL in the first half of 2024.

🟢 Daily transactions
➡️ Linea saw a spike in “user activity” in early April after launching its "Linea Voyage: The Surge" campaign.
Users are encouraged to interact with#DeFiprotocols in the Linea ecosystem for a chance to receive future airdrops.

➡️ Base surpassed Arbitrum to become the network with the most active users after launching Coinbase's smart wallet in June, allowing users to transact on Base without having to pay gas fees.

🔥Bitcoin Rainbow Chart predicts BTC price could reach $150k in the future.

👉 Currently, we are in the 4th post-halving cycle, which took place on April 20 this year. Now more than 70 days have passed since this event, and the price movement is still going according to plan... 😁

Don't get caught in bear traps

Wormhole launches Wormhole Governor V2 to enhance users' Multichain experience ⬆️⬆️⬆️

⭐️ Wormhole Governor V2 is a Flow Cancellation Governor mechanism, focusing on netflows to reduce delays and support more transactions while maintaining security.

⭐️ The benefits that Flow Cancelling Governor brings include:
🔗Eliminate transaction delays.
🔗Supports more transaction flows without increasing Governor limits.
🔗 Minimize risks and increase security for transaction activities.
🔗 All Wormhole members (Guardians, Contributors, and Builders) will spend more time developing project Interoperability.

Wormhole is a quality project on Solana's ecosystem, rescued by Jump Trading itself after an accident in 2022. Launching a quality feature will be a solution to help the $W price line improve. improved after falling close to the fund price since listing.

Wow the crypto trading volume in the last 24 hours is almost equal to the US stock market but still not comparable to the Forex market (red)

Gas $ETH reaches record low. $ETH inflation returned during the past time!

Despite all that, holders - OG across the market are still extremely bullish about $ETH - the amount of $ETH being staked is currently increasing - the amount of $ETH staking is currently 25%!

The future also has strong money injected from ETFs!

Personally, I am also bullish on $ETH. In addition to selling 20% ​​of the $ETH in the 3k2-3k5 area to hold the money to wait for the altcoin dip this June-July, the remaining $ETH I will keep the same and the target will begin. My take profit is when the 6k area goes up

I'm also extremely bullish on altcoin. If you ask me why I'm bullish, I'm just daring to bet. There are too many beautiful long-term factors that can't let the cold at the end of December say that January is not spring. Okay

Although the Crypto Spot ETF has been approved in major economies such as the United States, Europe, Brazil, Hong Kong, etc., it still faces many mixed opinions from other countries.

Recently, the Korean Institute of Financial Research (KIF) warned that Crypto ETFs may bring MORE RISKS THAN BENEFITS:

⚠️ Money poured into the Crypto ETF will absorb investments in traditional industries such as manufacturing, services, and technology. Contributes to weakening the local economy
⚠️ ETF causes the Crypto market to fluctuate strongly, causing risks for inexperienced investors

However, the agency still acknowledges that ETFs will become more attractive if Crypto achieves stability and is widely recognized as a mainstream financial asset class with adequate regulations and protections. .

🔥 Altcoin Season Index (18) is showing an accumulation "bottom" zone

In the last 90 days, only 9 projects in the top 50 Coinmarketcap ($TON $ONDO $PEPE $ETH ...) increased faster than $BTC

According to past data, these are all oversold areas, very stable to buy, or simply not the time to sell.

If: the account is negative and you try to sell, the green market tries to FOMO again, then it's pretty bad.

South Korea will apply a new law from July 19, requiring crypto exchanges to periodically evaluate tokens listed on their exchanges (every 3 months) to ensure compliance with the new regulations.

The new law stipulates strict penalties for violations, including a minimum prison sentence of one year or a fine of 3-5 times the illegal profits.

Following the success of CeDeFi, Manta launches an ecosystem development fund 💰💰💰

⭐️ Manta Foundation's new fund is called Manta EcoFund with a value of up to 50 million USD, and is allocated directly from the project's Treasury.

⭐️ Manta EcoFund will be skillfully used by Manta to fund projects in the incubation stage on its ecosystem, including:
⭕️35 million USD invested directly in projects on Manta Network.
⭕️10 million USD invested in the fields of DeFi, AI, ZK, Gaming, Memecoin,...
⭕️5 million USD for organizing Hackathons and events to develop Manta's community.

Building a diverse ecosystem is an indispensable stepping stone for the sustainable development of a project. Manta knows how to attract the community's attention by constantly updating good news right before the big wave of Layer2 is about to happen.

Previously, Layer2 projects such as Optimism, Arbitrum and Metis all witnessed token growth after releasing the Ecosystem Stimulation Fund. Next will be $MANTA ?

💵 Today the cash flow of BTC ETFs is negative $226 million USD

🟢 Black Rock continues to buy BTC today but the amount is still insignificant compared to the amount of BTC sold by other funds.

💵 Today, the net outflow of funds from BTC ETFs is $226 million USD

🔥When many people sell in panic, the fish are still silently and enthusiastically collecting goods

More than 20,600 Bitcoin worth $1.38 billion flowed into whale wallets on June 11.
They took advantage of that day's Bitcoin correction and accumulated more of this huge amount of Bitcoin.

12 days, 1 straight Dump route 😄

$ALT has Dumped more than 30% since the day I wrote the article, so it proves that what I wrote is right 🫤

The consequences of Low Float and High FDV came quite early when the price was searching for a new bottom, but the Marketcap was still much higher than when the List was on the floor.

With Volume 1D falling around 60 - 70M$, it is enough for VCs and Teams to dump on everyone's heads with Daily Unlock nearly 1 million $ 1 day and still have high profits (with the ROI of Private Round still x13 times and Seed Round still earning more than 31 times)

Holder $ALT is still ok :))

$CRV dump 30% within 1 hour...

CRV prices are continuously falling by nearly 30%.

The reason is because the price of $CRV decreased according to the market, leading to the CRV mortgage loan of Curve founder Michael Egorov being completely liquidated.

Previously, he borrowed $95.7 million stablecoin crvUSD against his $141 million USD CRV mortgage

🇺🇸 SUMMARY OF STATEMENT BY FED CHAIRMAN POWELL (June 12, 2024):

1. Inflation has decreased significantly but remains high

2. Fed reaffirms long-term inflation target of 2%

3. Many immigrants have entered the labor market, helping to increase the number of people working.

4. Fed says unemployment rate remains low

5. The economic situation is still unstable, the Fed is paying attention to risks.

6. The Fed needs to be more certain that inflation is moving towards 2%.