One of the biggest challenges in the crypto space has always been convincing users to shift from the web2 economy to web3.
🟠 Web2 – You make payments with a credit card, and in-game items belong to the developers.
🟠 Web3 – You pay with crypto from your wallet, and all in-game items belong to you personally in the form of NFTs.
💬 During the 2020-2021 cycle, the groundwork was laid for a massive wave of crypto games, featuring NFT ownership and the use of project tokens as the primary currency.
Players could only obtain in-game items and upgrades using project tokens, causing the token values to skyrocket by thousands of percent.
❓ So what went wrong with modern tap games?
There is no real utility for the tokens. The only use case is to sell them on an exchange after mindlessly tapping your screen.
🔴 Right now, every tap game follows a centralized web2 process where users earn game tokens that can be converted into web3 crypto. But after that, players don’t know what to do with the tokens other than selling them on an exchange.
📉 As a result, we see the same pattern—tap game tokens continuously lose value because they lack real-world utility.
No use case = no reason to buy.
🪙 The second issue is that it's impossible to distribute large amounts of money to a vast number of users, leaving most players with mere pennies.
❗️The third issue is that most projects are built as web2 games with web3 mechanics awkwardly tacked on, often limited to simple transactions or token withdrawals on-chain.
While many projects with tens of millions of users hit the market, only Notcoin managed to give their token any real use.
🔴 This is why tap games succeeded in attracting users as web2 projects but completely failed as web3 initiatives. They died even before proper app development was completed.
So, will games ever fully embrace this new economy? They might, but timing is everything.
📊 The peak engagement period has already passed. We are now in a phase of disappointment and project abandonment, meaning the chance to fully realize the potential has been lost.
What could have been a great web3 transition story was cut short by developer greed, leaving us with simple projects wrapped in shiny crypto packaging.

JupiterExchange - $31.1M
TokensoftInc - $23.3M
FjordFoundry - $11.4M
CoinList - $6.4M
daomaker - $4.4M
Gateio_Startup - $3.3M
kommunitasnet - $3.1M
Spores_Network - $2.0M
SeedifyFund - $2.0M
Poolz__ - $1.6M

LayerZero $ZRO
As of now, LayerZero’s native token (ZRO) is trading at around $4.90, up 16.55% from last month. The price increase is tied to a recent decision by the project to redistribute unclaimed airdrop tokens to active users.
On the daily chart, ZRO has formed an ascending triangle, indicating bullish momentum. A breakout from this pattern, along with positive readings on the Awesome Oscillator (AO), suggests a strong uptrend. If this continues, ZRO could surpass its previous all-time high of $5.60 in October, potentially reaching $6.55. However, if bullish efforts fall short, a correction to $4.39 is possible.
$SUI
Sui is another altcoin that could reach a new all-time high in October 2024. Currently priced at $1.74, it's about 20% below its previous peak.
The daily chart shows resistance around $1.77, which rejected a retest of the $2 level. The pullback brought SUI to a support level of $1.60, which could lead to a rebound. Additionally, SUI is well above the Ichimoku Cloud, suggesting strong support. If the trend holds, SUI could rise by 40% in October, reaching $2.25. If not, a drop to $1.50 is possible.
$BNB
Binance Coin (BNB) is another altcoin that could hit a new ATH in October. With the recent release of Binance’s former CEO, traders are optimistic about the return of a bull market.
Currently trading at $575.08, BNB is experiencing a slight dip. However, if positive news continues to drive growth, the coin could surpass $700 and reach a new high of around $725 by the end of October. Traders should remain cautious, as insufficient buying pressure could lead to a correction down to $564.
MANTRA ($OM)
The native token of the RWA project MANTRA (OM) is currently priced at $1.23, 13% below its historical peak of $1.42.
Technically, OM is aiming for $1.50, supported by indicators and the upcoming launch of the MANTRA mainnet. On September 12, the 20-day EMA crossed above the 50-day EMA, forming a “golden cross,” signaling a bullish trend. If the trend continues, OM could break resistance at $1.29 and move toward $1.50. However, if the EMAs reverse, the price could drop to $1.05.

Each quarter, Grayscale's research team analyzes hundreds of cryptocurrencies and updates their list of tokens primed for growth.
In their latest top 20 cryptocurrencies, Grayscale included tokens they believe have "significant potential in the upcoming quarter." By the end of Q3, six new cryptocurrencies were added to the list of top-performing assets.
"We analyze factors such as network growth and adoption, potential catalysts, the stability of fundamentals, token valuation, supply inflation, and potential risks," Grayscale explained.
The newcomers include:
$SUI The native token of the Sui blockchain. After a network upgrade, Sui’s transaction speed increased by 80%, surpassing even Solana's capabilities.Bittensor This protocol simplifies the integration of AI and digital assets. In the past month, TAO's price surged by nearly 70%. According to experts, the project has become one of the standout players in the AI sector.$OP A Layer 2 solution on Ethereum, featuring the Superchain framework. Optimism’s development is already being used in Coinbase's L2 Base network.Helium: A leader in the decentralized physical infrastructure networks (DePIN) sector. The project now boasts over a million hotspots and 100,000 subscribers. The platform has generated more than $2 million in network fees.$CELO This blockchain is transitioning to Ethereum’s Layer 2. Developers are focusing on stablecoins and payment solutions in emerging markets, where the project is growing in popularity. By daily stablecoin transactions, it already surpasses Tron.UMA The latest addition to Grayscale’s top 20. UMA is an oracle network utilized by the major prediction market Polymarket.
Other key players in Grayscale’s ranking include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Toncoin (TON), Chainlink (LINK), and Uniswap (UNI). Following the third quarter, some assets were removed from the list, including Render (RND), Mantle (MNT), ThorChain (RUNE), Pendle (PENDLE), Illuvium (ILV), and Raydium (RAY).
Finally, Grayscale analysts highlighted the risks of investing in cryptocurrencies, emphasizing their heightened volatility and urging investors to exercise caution.

The co-founder of $NOT has stated that they aim to complete beta testing and enable Notcoin staking by Monday. Alongside this, they will relaunch the bot to allow automatic ad placements by advertisers.
This will result in numerous new tasks and higher rewards, particularly for Gold and Platinum members.
The relaunch is expected in the coming days. Once staking is available, I will create a guide video to show you the process.
According to chart and recent purchases, as the correction seems to be ending. There’s a strong possibility of price recovery soon.

Miners Shutting Down and Capitulating
Miners are turning off their farms, resulting in a significant drop in hashrate, similar to what happened in December 2022 when BTC was at $16,500. This marked a bottom then. This pattern repeats after each halving; miners sell off, and the price shoots above the production cost, currently about $86,000 per BTC in the USA.
ConsenSys on SEC Lawsuit
ConsenSys has responded to the SEC lawsuit filed yesterday, stating they were prepared and will fight not only for their company but for the future of the Web3 industry.
Delay in ETH ETF Approval
The SEC has returned the S1 forms to the ETH spot ETF issuers, asking for minor adjustments to be made by July 8. This delays the ETH ETF launch, with the final approval process starting on July 8.
Market Sentiment and Indicators
Currently, the Fear and Greed Index is back in the "fear" zone at 30—the same level it was at when BTC was $25,000 in autumn 2023, before the rally to $74,000.
Exchange funding rates are negative, and overall sentiment is one of disappointment and fatigue.

Most investors stick to fundamental coins as they are considered less "volatile" and more "promising."
However, it's crucial to follow the market trend. If you're not aligned with it, profits will bypass your portfolio. Currently, meme coins, artificial intelligence, and TON blockchain projects are the most popular.
When ETH ETF trading starts, the L2 sector will awaken from its long accumulation phase and bring rewards to its holders.
Keep these trends in mind when building your portfolio.
$OP $ARB $AEVO

The U.S. government transferred $241 million in Bitcoin from its cold wallet to CoinBase today.
Such actions create additional fear in the market, leading people to worry more about potential declines than future growth.
Manipulators are trying in every way to scare the majority of investors into thinking seriously about selling their losing positions. This strategy ensures that only a small percentage of investors keep their coins. Remember, as I have often said, the market profits the minority. We will see the desired growth once the number of altcoin holders is significantly less than those selling at a loss. We are very close to this point...

ETH is back at key support and the 21-week EMA, with spot ETFs anticipated to launch next week.

It will be interesting to watch how investors diversify their crypto holdings from BTC ETFs to now include both BTC and ETH ETFs.
Overall, the second half of the year looks promising for ETH.

BLAST Launch
The release of Blast was met with negative feedback from the community. The distribution was minimal, with one investor receiving only $100,000 worth of tokens from a $50,000,000 investment. This weak performance, worse than any competitors, indicates that the market is paused, not at a peak or euphoria, but in a lull before a potential surge!
BLUR Staking Issues
Many staked BLUR during the season, but the returns were low. BLUR seemed weaker due to early staking withdrawals and sales ahead of the upcoming BLAST scandal. The decline continued today after the end of staking.
Analysis
Recent project listings are cutting airdrops, harming their reputation and trust in the ecosystem because there isn't time to buy back tokens. A year ago, projects like ARB, APT, and SUI gave large rewards and spent time buying them back. Now, no one is giving significant rewards, suggesting the end is closer than it seems. Although the income from BLUR is modest and investor returns are reduced, it's a bullish sign for BLUR, ZK, and others because most tokens remain with strong holders. BLUR, still an NFT market leader, is now priced between $0.17 and $0.75, an accumulation zone. With the NFT sector revival and increased liquidity, the project is expected to perform well.

Earlier this year, in April, the SEC started investigating Ethereum 2.0 and ConsenSys, arguing that Ether trading involves securities transactions.
In response, ConsenSys filed a counterclaim seeking clarification on Ether’s classification after the approval of the spot ETH ETF. As a result, the SEC informed the company that the investigation was closed.
This announcement boosted the market overall and specifically the Ethereum narrative. LDO and ENS saw notable increases.
ConsenSys also announced that they will continue to challenge the SEC, arguing that Metamask Swaps and Stakes do not breach securities laws.

Twitter is full of discussions about a possible USDT collapse. The reason is an announcement by Consumers' Research, labeling Tether as a pyramid scheme and comparing it to "the new FTX." They also claim USDT is linked to the governments of Russia and China, terrorist groups, drug cartels, and human traffickers.
It's notable that not long ago, Pavel Durov was on the same stage with the CEO of Tether, talking about the prospects of stablecoins. However, many are now calling this cryptocurrency a bubble.

#usdt

The asset that was anticipated to deliver strong growth and substantial profits has instead followed a persistent downward trend with a 60% correction from its peak.
Looking at major L2 solution projects, you’ll notice that all these coins are experiencing significant declines. This trend is likely to continue until ETH-ETF trading begins in July. At that point, a large influx of new investments is expected, which should help the price return to its upper range (~$2). Until then, large players will continue to shake out weak hands in the market, who are selling their coins in fear at "ridiculous" prices.

Currently, 90% of people who invested in altcoins are in significant loss. Most of these investors have lost faith in future growth and expect more corrections, especially in altcoins.
If we observe most analysts and traders, they are anticipating a swift turnaround and the start of a strong rally. As mentioned before, when the majority expects a specific movement, the opposite scenario is often more likely.
I think we will drop further before bouncing back strongly and seeing the desired altseason. It's important to note that the reversal can be very quick, so we must always be ready.
Many might wonder how much lower we can go. The truth is, there is no definitive bottom. Each new low can bring another correction, potentially endlessly. The key is the market's cyclical nature. Therefore, never invest all your capital at once; you might get many buying opportunities from your entry point until the expected growth happens.

$ZK project is very promising.
From what I know, the team spent about 5 years developing it. Also, according to data from Cryptorank, an enormous amount of investment has gone into this token - $458 million!
For comparison, $IO which is currently performing very well on the exchange, had only $30 million in investments.
Trading starts in 30 minutes, so just a reminder of this opportunity.

Media Reports
The Biden administration will join a roundtable on BTC and cryptocurrencies in Washington this July. The focus will be on retaining BTC innovation within the country.
T-Mobile Deutsche Telekom
Europe's leading telecommunications provider announced its intention to start mining BTC.
ASX Approval
The Australian Securities Exchange has approved the first spot BTC-ETF, set to start trading on June 20.
CISA Alert
The Cybersecurity and Infrastructure Security Agency warns of a rise in impersonation scams targeting cryptocurrency investors.

The weekend remains calm, but BTC is just below the broken support zone, under 67K.
Last weekend, we similarly spent a couple of days below 70K, and continued to fall when the new week started.
Given the formation of a reversal pattern and the breach of key supports, I think a continued drop towards 60K next week is the most likely scenario. It's important to be prepared for this.
A decline is quite reasonable now. Bloomberg analysts suggest that the launch of spot ETH ETFs could be on July 2, leaving only 2 weeks for major players to increase their ETH positions.

Yesterday, ETH declined as it tested the weekly imbalance and monthly order block. Overnight, we witnessed a 5% surge in ETH and a 15% rise in ETH narrative coins from our portfolios (LDO, ENS).
The catalyst was a tweet from a Bloomberg editor and insider who previously accurately predicted ETH and BTC ETF approvals. This time, he mentioned that the SEC will not delay the ETH ETF approval. It's notable that while the stock market was stable, the crypto market was manipulatively dropping, and this tweet halted the decline and triggered a market surge. Consider this during the next "shake" if you're tempted to sell at a loss.

We now understand that during a rally sparked by the "expectation" or "fact" of the ETH ETF launch, ETH narrative coins are likely to outperform ETH by approximately three times. It's also crucial to realize that portfolio dips of 30-40-50%, when bought at "accumulation at the bottom" prices, can be offset within a few days following a series of strategic "posts" and media headlines. Growth can commence at any moment, similar to the recent decline on positive macro data amidst a rising stock market, without any clear reason!

Most altcoins have been in sideways ranges on higher timeframes for 9 weeks.
Sentiment around altcoins has changed significantly since the $BTC halving, now resembling November-December 2020 (altcoin drop during Bitcoin’s rise) or September-October 2023 (end of the summer altcoin decline).
For comparison, you can check the AVAX chart (weekly TF).

There are two possible scenarios for altcoins now
Manipulation causing a drop below the sideways range and initiating shorts.A fall to 2023 levels and further decline of altcoins.
Why is this situation unclear?
We have favorable macro conditions - a decline in two inflation components, rising unemployment, and the Fed’s recent statement just reiterated previous messages. The stock market is at all-time highs.
We are also awaiting the approval of spot $ETH ETF applications this summer (confirmed by Gerry Gensler yesterday).
However, it seems Wall Street is ignoring the crypto market and seasonal factors, as it did in April 2023.
Waiting for the outcome...

According to Rekt Capital - The struggle of Bitcoin to break out is good for the overall cycle.
$BTC has never broken out this early after a halving.
If it did, the cycle would speed up so much that the bull market would be shorter than usual.
Continued consolidation helps the price align with historical halving cycles, allowing for a typical bull market.