BTC touches $71K for the 7th time since $73,777 peak in March.
June 5, 2024
Hot projects + Market overview
Time for @WOOXResearch's daily News Flash.
— WOO X (@_WOO_X) June 5, 2024
🪙 $BTC hit $71,000 for the 7th time since March peak
🇪🇺 $TON launches in the EU
🇹🇭 Thailand approves its 1st #Bitcoin spot ETF
📈 Holdings in US Bitcoin ETFs hit record high of $60B
Full market overview here 👉 https://t.co/o3rUTT4Tr2 pic.twitter.com/lnnELokbqh
I. Mainstream exchange news
- Binance will support Tron Network (TRX) wallet maintenance and network upgrades.
- Binance implements emergency price fluctuation alert and artificial two-factor authentication.
- Binance custodial sub-account must maintain at least $100,000 in assets.
- Binance will launch HIGH/TRY, PEOPLE/FDUSD, and TNSR/USDC spot trading pairs on June 5th.
II. Mainstream projects and trending events
- Holdings in nine US Bitcoin ETFs have hit a new record of $60B.
- In May, the Base network led all L2 networks with $6.98M in on-chain profits.
- Robinhood crypto has launched TON in some EU jurisdictions.
- TON network's active addresses have increased by 228% in May.
- XRP spot ETF is inevitable and is expected to be listed in 2025, says Ripple CEO.
- FTX settles with the US IRS over a $24B tax claim.
- IOTA's EVM launches on mainnet, introducing smart contracts and cross-chain functions.
- Ethena Labs partners with Bounce Bit, allowing users to earn sUSDe through BBUSD staking.
- DWF Labs has committed to buy $12M worth of FLOKI tokens to show support.
III. Funding news
- Ethereum L2 Fhenix raised $15M from Series A led by Hack VC.
- Stashh Labs raised $3.3M from a funding round participated by Animoca.
- Modular blockchain project Avail raised $43M from Series A.
IV. Regulatory news
- Thailand has approved the country's first Bitcoin spot ETF.
- Japan starts recruiting companies for a ‘2025 Demonstration Project for Building Digital Public Goods using Web 3.0 and Blockchain'.
V. Popular projects
Market Overview
BTC has strongly surpassed the $70,000 mark, currently fluctuating around $71,000. This is the seventh attempt to breach this value since it retracted from previous high of $73,777 in March.
For BTC to challenge the previous peak of $73,777, it needs to solidify its position above $72,000. However, there's a potential risk of a market correction until this level is firmly established.
The current bottom support level has increased to $67,518. It's crucial to monitor if BTC can overcome the resistance at $72,000.
BTC Spot ETF as of June 4th
Overall Data:
Total Net Inflow: $14.57 billion
Daily Net Inflow: $612 million
Single-Day Turnover: $1.16 billion
Proportion of BTC’s Market Value: 4.41%
Breakdown by ETF:
GBTC:
Net Asset Value: $20.12 billion
Single-Day Net Inflow: $28 million
Cumulative Net Outflow: $18 billion
Single-Day Turnover: $368 million
FBTC:
Net Asset Value: $12.01 billion
Single-Day Net Inflow: $379 million
Cumulative Net Inflow: $9 billion
Single-Day Turnover: $470 million
ARKB:
Net Asset Value: $3.47 billion
Single-Day Net Inflow: $139 million
Cumulative Net Inflow: $3 billion
Single-Day Turnover: $126 million
TROG is up over 150% in a day
TROG features the combination of a frog and Trump. Among small to mid-cap projects within the Trump theme, TROG has a larger rise.
The TROG token has an on-chain liquidity of $1.03M, market cap of $30.61M, and a 24-hour trading volume of $12M.
FISH up 50% in a day
FISH, a leading memecoin on the TON chain, has captured considerable market attention due to the excitement over TON's mini-game, NOT.
Robinhood crypto has launched TON in some EU jurisdictions, and this news has ignited anticipations of Binance listing TON spot trading. This development triggered a daily surge of 54% for FISH, with the trading volume surpassing $5M.
TYBG is up over 40% in a day
TYBG is a religious-themed memecoin on the Base chain. It has previously surged in March, with the token rising 240 times from the bottom, then falling more than 80%.
The Base ecosystem reached new highs in revenue and TVL, sparking increased interest in Base's memecoins and causing significant price increases for several tokens.
TYBG currently has on-chain liquidity of $1.2M, 8.2k holders, and a market cap of $31.7M.
On-chain Daily
- EEF: EEF features simple line illustrations that can be customized to produce related stickers on the official website. They aim to become the number one community in the Ethereum ecosystem.
Current Price: $0.0315
Historical High: $0.0583
6 hours Change: -5.5% (Token launch time: 6/4, 10:50 UTC)
Current Market Value: $3.1M
- PEIPEI: PEIPEI is the Chinese version of Pepe, characterized by a bright red body and a hat with a five-star flag.
Current Price: $0.0(8)999
Historical High: $0.0(7)156
6 hours Change: +86% (Token launch time: 6/4, 20:25 UTC)
Current Market Value: $4.2M
- BUBBA: BUBBA is a memecoin on the Solana chain, claiming to be the first original female character in the Solana ecosystem.
Current Price: $0.0107
Historical High: $0.0133
24 hours Change: +53%
Current Market Value: $10.7M
- BIRDIE: BIRDIE is a memecoin on the Solana chain, launched by Pump fun. It features a black and white, Japanese-styled bird design.
Current Price: $0.00169
Historical High: $0.0024
6 hours Change: +70% (Token launch time: 6/4, 08:40 UTC)
Current Market Value: $1.4M
- SAITAMA: SAITAMA is a memecoin on the Solana chain, featuring the main character of the famous comic 'One Punch Man'. The project was taken over by the community on May 16th.
Current Price: $0.190
Historical High: $1.836
24-hour Change: +50%
Current Market Value: $13.4M
- GROOVE: GROOVE is a SocialFi on the Base chain. Fans can stream and comment on emerging artists' music, making money by commenting on music they like.
Current Price: $0.008
Historical High: $0.00953
24-hour Change: +6%
Current Market Value: $8M
Daily Rune Observation
Gas Fee Change: The current BTC transaction fee is 31 sats per byte, a 72% increase in 24 hours, indicating market warming.
Today's Popular Projects:
- ORDINAL•RAINBOWS: Total supply 21,000. Current forging quantity: 2,234. number in the memory pool: 3,822. Overall forging progress: 29%.
- HAMI•THE•ORIGINAL: Total supply 2,100. Current forging quantity: 1,240. Number in the memory pool: 777. Overall forging progress: 98%.
- REKT•MEMPOOL•ENJOYER: Total supply 100,000. Current forging quantity: 39,821. Overall forging progress: 39.8%.
Top Rune Project Tracking:
- Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z: No.1 Rune, current price 36,500 Sats, 24-hour drop 1%, current market value 40,555 BTC
- DOG•GO•TO•THE•MOON: No.3 Rune, also Runestone's airdrop rune, current price 12.4 Sats, 24-hour drop 7.2%, current market value 12,429 BTC
- RSIC•GENESIS•RUNE: No.8 Rune, also a rune established by the famous inscription mining project RSIC. Current price 18.9 Sats, 24-hour increase 11.9%, current market value 3,962 BTC.
—
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.
