DICK, the first memecoin under the ERC7660, launches

June 6, 2024

Hot projects + Market overview

I. Mainstream exchange news

• Binance requests the UK's Competition Appeal Tribunal (CAT) to dismiss the majority of collusion cases filed by BSV Claims.
• Bybit adds China (CN) to its user authentication regions. 
• Coinbase launches a smart wallet that supports gas-free transactions across networks and applications.
• OKX Web3 Wallet and the Blast ecosystem jointly launch a series of activities.
• Upbit is to list Taiko (TAIKO) on its KRW, BTC, and USDT trading markets.
• Bithumb is to list Xai (XAI) on its Korean won market.

II. Mainstream projects and trending events

• 152,000 jobs were added in May, short of expectations, reports the US ADP. 
• A PEPE whale transferred $3.86 million in PEPE and SHIB out from Binance.
• The Volatility Shares 2X Ethereum ETF saw a trading volume of $15 million on June 6th.
• Arthur Hayes predicts the European Central Bank's interest rate cut, following the Bank of Canada, may benefit risk assets.
• Sanctum tokenomics for the CLOUD token has 10% of the total supply pegged for the initial airdrop.
• The first stage of the TAIKO token airdrop opens, with the claim period until July 5th.
• DICK, the first memecoin under the ERC7660 protocol has officially launched.
• zkSync completes the audit for its v24 update and will deploy it on the mainnet on June 6th.
• Aethir’s airdrop of its token ATH covers a total supply of 42 billion tokens, of which 6% is allocated for rewards.
• The Layer 2 Plume Network, focusing on RWA, is set to launch its incentivized testnet.

III. Funding news

• Nubit raised $8 million in a seed round led by Polychain Capital.
• Stablecoin minting protocol M^0 raised $35 million in a Series A led by Bain Capital.
• Tether invested $18.75 million in blockchain financial institution XREX Group.
• MarketingFi and the AI data layer Cookie3 raised $5.5 million in token funding and will launch the COOKIE token on June 13th.

IV. Regulatory news

• China's first coin-related criminal case has ignited a debate on whether withdrawing liquidity, resulting in coin speculation losses, constitutes fraud.
• Insufficient disclosure doesn't shield crypto exchanges from litigation, says the US SEC Chairman.
• Argentina has officially launched a virtual asset service provider registration center.
• Turkey is considering taxing income from stock and crypto investments.

V. Popular projects 

Market Overview

BTC hit a high of $71,758 on Jube 6th, failing to effectively break through the $72,000 mark. However, single-sided net inflows into the ETF exceeded $300 million, indicating that the main funds are optimistic about the subsequent performance of BTC. 

The US May ADP employment count of 152,000 people was lower than expected, suggesting a lower-than-expected US unemployment rate and non-farm employment data on June 7th. 

On June 5th, the Bank of Canada announced a 25 basis points rate cut to 4.75%, the first G7 central bank to cut interest rates. The overall atmosphere of rate cuts is strong. 

If BTC can effectively stabilize above $72,000, the probability of challenging the previous high will greatly increase. The key focus will be on the US unemployment rate and non-farm employment data feedback on June 7th.

BTC Spot ETF as of June 5th

Overall Data:

• Total Net Inflow: $15.11 billion

• Daily Net Inflow: $332 million

• Single-Day Turnover: $827 million

• Proportion of BTC’s Market Value: 4.45%

Breakdown by ETF:

• GBTC:

○ Net Asset Value: $20.37 billion

○ Single-Day Net Inflow: $15 million

○ Cumulative Net Outflow: $18 billion

○ Single-Day Turnover: $306 million

• FBTC:

○ Net Asset Value: $12.35 billion

○ Single-Day Net Inflow: $221 million

○ Cumulative Net Inflow: $10 billion

○ Single-Day Turnover: $349 million

• ARKB:

○ Net Asset Value: $3.58 billion

○ Single-Day Net Inflow: $71 million

○ Cumulative Net Inflow: $3 billion

○ Single-Day Turnover: $85.77 million

Sanctum announces tokenomics

Sanctum, an LST protocol in the Solana ecosystem, announced its tokenomics, including a total token supply of 1 billion. The initial distribution at TGE will be used for token sales, with a starting FDV (Fully Diluted Valuation) of $50M. Profits and remaining unsold tokens will be transferred to the strategic reserves.

The initial circulating supply is 180 million tokens (18%), among which:

- 30% is reserved for the community

- 25% is allocated to the team

- 13% is allocated to investors

- 13% is reserved for strategic uses

- 10% will be available in the initial airdrop

- 8% will be used for adding liquidity to the LFG release pool

- 1% is for Jup LFG 

Taiko initiates the first phase of airdrop

The first phase of the TAIKO token airdrop is now open, with eligible users being able to claim about 50 million tokens, which is 5% of the initial TAIKO supply.

Eligible users include Taiko proposers and provers, Taiko bridgers, Taiko users (including Galxe point holders), Taiko developers, and GitHub contributors.

Aethir announces tokenomics

Aethir, a centralized cloud computing infrastructure project, has announced the airdrop details of its token ATH. The total supply of ATH is 42 billion, of which 2.52 billion (6%) has been reserved for airdrop rewards. Aethir's airdrop event will be conducted in three seasons.

Season 1 was concluded on May 29th, distributing 630 million ATH, 74.5% of which was allocated to Aethir community members (including Checker Nodes), and 25.5% to external communities. The reward-claiming process will be conducted through a dedicated platform starting June 12th.

Season 2 is expected to start eight months later, aiming to reward community members who continue to participate in the Aethir ecosystem.

Season 3 will launch 16 months later, targeting the most loyal community members, and distributing 3% of the total supply.

Currently, Aethir has sold more than 74,000 nodes, with sales amounting to 41,627 ETH, worth $130M. The average cost of a node is 0.56 ETH.

CAW is up 25% in a day

CAW is a memecoin launched on the Cronos network, its full name being Crow With Knife, similar to Doge With Hat(WIF).

The token is held in 10.4K addresses, with on-chain liquidity reaching $4.67M and a trading volume of $2.75M in the past 24 hours.

BURGER up 35% in a day

Recently, as BNB has broken through its historical high, some capital has moved to the BSC ecosystem. BurgerCities is a one-stop gaming and MetaFi platform built on the BSC ecosystem, which has been listed on Binance and is one of the earliest projects supported by Binance. 

The BURGER token's trading volume reached $146M in the past 24 hours.

On-chain Daily

1. SHIN: Yesterday's on-chain daily featured the token featuring China's Peipei, whose price soared tenfold in one day, prompting many projects to issue Chinese versions. SHIN is the Chinese version of the Shiba Inu token.

Current Price: $0.0(7)463

Historical High: $0.0(6)104

6-hour Change: -35% (Token Launch Time: 6/5, 19:15 UTC)

Current Market Value: $4M

2. SPURDO: SPURDO is a memecoin that originates from the 4chan forum, just like Pepe, originally used to make fun of new forum users.

Current Price: $0.00309

Historical High: $0.00354

24-hour Change: +48%

Current Market Value: $30.9M

3. DOGGA: DOGGA is the Chinese version of Dogecoin.

Current Price: $0.0(4)111

Historical High: $0.0(4)218

4-hour Change: -17% (Token Launch Time: 6/5, 22:40 UTC)

Current Market Value: $1.3M

4. GUMMY: GUMMY is a memecoin on the Solana chain, featuring cannabis gummies. The team does not hold any tokens.

Current Price: $0.088

Historical High: $0.239

24-hour Change: +18%

Current Market Value: $88M

5. BERF: BERF is a memecoin on the Base chain, paying tribute to Slerf on the Solana chain, changing the first two letters SL to B.

Current Price: $0.00976

Historical High: $0.01

24-hour Change: +54%

Current Market Value: $4.1M

6. POLLUK: POLLUK is a memecoin on the Base chain, featuring Base's founder Jesse. Its overall art style is the same as Boden's, characterized by a long chin.

Current Price: $0.0028

Historical High: $0.0033

24-hour Change: +237%

Current Market Value: $2.8M

Daily Rune Observation

Gas Fee Change: The current BTC transaction fee is 68 satoshis/byte, up 105% in the last 24 hours, indicating a continuously warming market.

Popular Projects Today:

PEIPEI•THE•FROG: A total supply of 42,000 pieces, with 12,483 pieces minted so far, and 3,252 pieces in the mempool. The overall minting progress is at 36%, and it is held at 161 addresses.

AGE•OF•AQUARIUS: A total supply of 12,000 pieces, with 5,001 pieces minted so far, and 1,534 pieces in the mempool. The overall minting progress is at 42%, and it is held at 415 addresses.

IM•LOOKING•FOR•A•MAN•IN•FINANCE: A total supply of 20,000 pieces, with 9,591 pieces minted so far, and 1,234 pieces in the mempool. The overall minting progress is at 48%, and it is held at 171 addresses.

Top Rune Project Tracking:

Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z: The No.1 Runestone, the current price is 36,690 Sats, up 0.5% in the past 24 hours, with a current market value of 40,766 BTC.

DOG•GO•TO•THE•MOON: The No.3 Runestone, also an airdrop Runestone from Runestone, is currently priced at 12.9 Sats, up 3.4% in the past 24 hours, with a current market value of 12,959 BTC.

RSIC•GENESIS•RUNE: The No.8 Runestone, also a rune created by the famous inscription mining project RSIC, is currently priced at 16.9 Sats, down 6.1% in the last 24 hours, with a current market value of 3,542 BTC.

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