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TopCryptoNews
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🚀 Holders Believe in Bitcoin Growth Over the course of 3 months, BTC has been consolidating in the range of $60-72 thousand, which is classic price behavior, after active growth of more than 200%, however, the latest data indicates the active accumulation of BTC by long-term investors. 🐙 Glassnode reports that at the end of May, 50,000 BTC were withdrawn from Kraken alone, worth $3.44 billion. Also, according to Glassnode, the activity ratio showed an impressive drop from 9% to -3%, indicating a trend towards long-term storage of BTC. 🔼 Today BTC broke through $70 thousand, at the moment the price is trading below this level, as investors are looking forward to labor market data , which will be published on 06/07. $BTC #BTC #Bitcoin {spot}(BTCUSDT)

🚀 Holders Believe in Bitcoin Growth


Over the course of 3 months, BTC has been consolidating in the range of $60-72 thousand, which is classic price behavior, after active growth of more than 200%, however, the latest data indicates the active accumulation of BTC by long-term investors.


🐙 Glassnode reports that at the end of May, 50,000 BTC were withdrawn from Kraken alone, worth $3.44 billion. Also, according to Glassnode, the activity ratio showed an impressive drop from 9% to -3%, indicating a trend towards long-term storage of BTC.


🔼 Today BTC broke through $70 thousand, at the moment the price is trading below this level, as investors are looking forward to labor market data , which will be published on 06/07.


$BTC #BTC #Bitcoin

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👀 231 Billion PEPE Withdrawal Stuns Major US Exchange: Bullish? On Sunday morning, an unknown cryptocurrency whale bought 231.6 billion PEPE tokens from Kraken, valued at about $2.9 million. This recent purchase adds to the whale's total holdings of 750.34 billion PEPE, amounting to $8.34 million since mid-March, reports Lookonchain. PEPE, a meme cryptocurrency inspired by a famous cartoon frog, has been a hot topic since its debut last May. The token has seen substantial buying and selling activity from various investors, including the biggest one. A year later, the trend continues with major transactions still making headlines. The whale's recent investment indicates a strong belief in PEPE's potential for further growth. This is notable given the token's already impressive gains. The speculation is that this whale expects more upward movement, possibly driven by bullish market trends. 💬 A whale bought 231.6B PEPE ($2.9M) from Kraken again 7 hours ago. The whale has bought a total of 750.34B PEPE ($8.34M) from Kraken at an average price of $0.00001111 since Mar 16 — Lookonchain June 9, 2024 Despite a volatile market, the recent whale activity suggests a positive outlook for PEPE on their behalf. The token is currently trading at $0.000013 per token, which is 40% below its all-time high but still up by an impressive 1,040% from the start of the year. Interestingly, PEPE often moves in sync with Ethereum (ETH), making it a potential indicator for ETH's performance. This unique relationship adds another layer of interest for popular meme cryptocurrency. Overall, the large purchase of PEPE from the major U.S. exchange is a notable event in the cryptocurrency market, suggesting a bullish outlook for the meme-based token. Enthusiasts better be watching closely to see if this whale's bet pays off. $PEPE #PEPE
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🔥 Here’s the Amount of Terra Classic (LUNC) Binance Burned This Month Cryptocurrency exchange Binance continues its regular Terra Classic (LUNC) burns, according to data. Data shows that Binance has burned approximately 1.3 billion LUNC tokens in a total of 3 transactions so far in June. This means that at the time of writing this article, the cryptocurrency exchange has burned approximately 144 thousand dollars of LUNC tokens in total this month. For an altcoin LUNC with a market value of $615 million, this burning amount is not an amount that can affect the price much, and on its chart, the token has lost approximately +10 value in the last week. Approximately half of all Terra Classic token burns to date have been issued by Binance. The value of LUNC tokens burned by the cryptocurrency exchange to date is at the level of 6.4 million dollars. So Binance has burned approximately 1% of the total supply of this altcoin so far. The exchange carries out its largest token burns at the beginning of the month, but small amounts of burns can also be seen on other days. In other words, Binance Terra Classic burns in June may increase slightly. $LUNC #LUNC
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📊 Bitcoin’s Stability Contrasts Altcoin Losses Over Weekend Bitcoin maintained its price stability on Sunday, contrasting sharply with the significant losses experienced by altcoins over the weekend. The downturn in altcoins is driven by anticipation of the Federal Reserve’s impending decision on Wednesday. This raises the question: which altcoin category attracted the most interest in May, and could a similar trend appear in June? 🔸 What Were the Most Popular Altcoins? Real World Asset (RWA) tokenization emerged as the most popular sector within the cryptocurrency market. This trend is gaining traction, with many traditional financial institutions exploring investments in RWA. Even state banks are experimenting with tokenized bond issuances on networks like Ethereum. The tokenization of real-world assets has highlighted its potential to enhance cost efficiency, transparency, and security for investors. As a result, numerous initiatives have surfaced within the crypto space. Data from the crypto analysis platform Artemis Terminal indicates that cryptocurrencies in the RWA sector exhibited a positive performance of 58% in May. 🔸 How Significant Are RWA Experiments? A review covering 21 different categories revealed RWA as the leader, with a strong likelihood of maintaining its prominence over the long term. It is followed by the BTC and Ethereum ecosystems, which showcased performances of 26.1% and 18.2%, respectively. On June 4, Galaxy Digital secured a multi-million dollar loan using a 316-year-old Stradivarius violin as collateral. The loan is backed by both the physical violin and its NFT version, offering asset management flexibility and robust collateral. The physical violin is stored in Hong Kong, while its NFT represents its digital counterpart. $BTC #BTC #Bitcoin
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🤯 Investors Worry About Upcoming Fed Meeting Investors are increasingly concerned about the upcoming Fed meeting in light of recent data. Prices are moving sideways. Last weekend, the Bitcoin price, which was stuck in a $500 range, showed a similar pattern on Saturday. With cautious investors still dominant, the current situation is not surprising. 🔸 Bitcoin (BTC) Latest Status Bitcoin price fluctuates between $69,582 and $69,139, showing how much investors are avoiding risk. Volumes have weakened, and the Non-Farm Payroll data released on Friday was discouraging. The Fed will hold its meeting in the coming days and announce its interest rate decision. They are expected to decide to keep it unchanged, a view that is firmly accepted by the market. The problem is that the possibility of at least one rate cut before December has been eliminated with this data. With the uncertainty, the members’ average year-end cut estimate of 75 basis points at the beginning of 2024 has also been dashed. If the BTC price loses the $68,500 level, it could see a deeper correction towards $66,900. Below that, larger corrections will open the door, and good days will not come for investors. For now, BTC, testing the bottom of the narrow range, may see more sales in the coming hours and days due to the fear of the Fed meeting. The $68,500 level will be an important alarm zone for downward risks. 🔸 Latest Status of Cryptocurrencies In the last 24 hours, the total trading volume in cryptocurrencies has dropped to $53 billion. The 50% drop in volume reflects the lack of investor interest. Moreover, Bitcoin’s market dominance has risen to 54%. The total market value of cryptocurrencies has fallen to $2.53 trillion. All this data tells us that we could see more as the Fed meeting approaches. The biggest losers of the week were TIA, BEAM, LDO, CHZ, FET, AR, PEPE, AGOX, and SNX Coin. They experienced losses of nearly 20% on a weekly basis. $BTC #BTC #Bitcoin
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👀 Is Uniswap Planning To Sunset Gas Fee? Founder Drops Unusual Hint A new X post from Uniswap Protocol founder Hayden Adams suggests that the platform could be considering the elimination of gas fees. 🔸 Potential Elimination of Ethereum Gas Fee Taking to X, Adams noted that no user should hear of the term “gas fee.” His statement is a clear indication that Uniswap, as a decentralized exchange, has issues with gas fees and their impact on user experience. For context, gas fees are transaction costs incurred for conducting transactions on the Ethereum blockchain, paid in Ether. The issue of gas fee is one that is of general concern as congestions generally drive these costs upward. The Dencun upgrade took place recently and it impacted the gas fee by lowering the payable fees on Ethereum Layer-2 protocols. Precisely, the Ethereum gas fee touched its lowest level in four years since 2020, resting at 6.8 Gwei. The post-Dencun upgrade brought about blobs and enhanced network efficiency, resulting in the noticeable decrease in fees. This upgrade piqued developers’ interest in how gas prices might rise if market activity were to surge. As one of the biggest Decentralized Exchanges (DEX), if Uniswap can eliminate gas fee on its platform, it might ultimately trigger a new wave of embrace. 🔸 Ethereum Ecosystem Welcomes Multiple Upgrades Meanwhile, the Ethereum ecosystem has welcomed other upgrades in last few months. On Friday, Christine Kim, the Vice President on the Research team at Galaxy took to the X platform to highlight the latest task that Ethereum (ETH) developers are undertaking regarding Pectra upgrade. According to Kim, these developers agreed to further expand the scope of the Pectra upgrade with the inclusion of EOF and EIP 7702. There is Electra upgrade, the next consensus layer-focused hardfork coming to Ethereum. Prior to the proposed expansion of Pectra upgrade, Kim identified four key codes that the team behind Electra upgrade plans to add. $UNI #UNI #Uniswap
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