BTC could face a second dip if it fails to hold above $66K.
Hot projects + Market overview
I. Mainstream exchange news
- Binance has implemented risk control measures to prevent "airdrop hunter" accounts from participating in its Megadrop.
- Binance has integrated USDT into the Toncoin Network and opened deposit and withdrawal services.
- Coinbase has listed Core (CORECHAIN).
II. Mainstream projects and trending events
- Uniswap has begun testing its web plugin.
- The board of Metaplanet has earmarked 1 billion yen for a purchase of Bitcoin.
- Decentralized social network Farcaster has 537,000 total users and an income exceeding $1.88 million.
- The amount of ETH burned on June 23rd was 266 ETH, a new low following the EIP-1559 upgrade.
- Blockchain finance company Parfin has created a new blockchain system, Rayls, to enhance the privacy of Brazil’s CBDC.
- Pudgy Penguins and OverpassIP have established a parent company, Igloo.
- BlackRock, Grayscale, and MicroStrategy lead in global Bitcoin holdings.
- 90% of the development work for the Bitcoin layer2 project Stacks Nakamoto has been completed.
- Bitwise, VanEck, and seven other Ethereum spot ETF applicants have submitted revised S-1 documents.
- AI Arena's NRN token will officially launch on June 24th.
- Coinbase has been chosen as custodian for the first Solana ETP in North America.
III. Funding news
- Crypto security startup PQShield has raised $37 million from a Series B round.
- Crypto financial research company SoSoValue has raised $4.15 million from a seed round.
- DePIN developer Verida has raised $5 million from a seed round.
- Blockchain gaming platform Gudchain has raised $5 million.
- Web3 gaming platform Farworld Labs has raised $1.75 million from a round that Coinbase Ventures participated in.
IV. Regulatory news
- The South African tax authorities are strictly examining crypto traders amidst regulatory uncertainty.
- The US Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “non-monetary property.”
- The Chamber of Digital Commerce raised privacy concerns about the US IRS’s crypto tax proposal.
- Nigeria's Securities and Exchange Commission has issued new digital asset rules and compliance plans.
- All Korean crypto exchanges are actively participating in establishing new self-regulatory norms for listings and delisting.
V. Popular projects
Market Overview
BTC failed to stay above $66,000 and has slipped below $63,000, with a low of $62,695. It's still uncertain if BTC has reached the bottom for this dip.
$62,500 is a densely traded area for BTC and could provide some support. BTC needs to rise above $66,000 to re-enter the bullish narrative. A second dip may occur if BTC cannot stay above $66,000. It is suggested that traders keep watching and make fewer moves.
US BTC Spot ETF Update - June 21
Overall Data:
Total Net Inflow: $14.56 billion
Daily Net Outflow: $105 million
Single-Day Turnover: over $1.31 billion
Proportion of BTC’s Market Value: 4.39%
Breakdown by ETF:
GBTC:
Net Asset Value: $17.84 billion
Single-Day Net Outflow: $34 million
Cumulative Net Outflow: $18 billion
Single-Day Turnover: $175 million
IBIT:
Net Asset Value: $19.57 billion
Single-Day Net Outflow: $0
Cumulative Net Inflow: $18 billion
Single-Day Turnover: $763 million
FBTC:
Net Asset Value: $10.72 billion
Single-Day Net Outflow: $45 million
Cumulative Net Inflow: $9 billion
Single-Day Turnover: $253 million
ARKB:
Net Asset Value: $2.92 billion
Single-Day Net Outflow: $29 million
Cumulative Net Inflow: $2 billion
Single-Day Turnover: $52.58 million
RATS saw high trading volume on Binance
With high-value projects being launched frequently, the crypto community is collectively resisting projects with high FDV that yield no wealth effect. This has been a popular technique for boosting the hype around meme-type projects.
Fair distribution project RATS, from the inscription track, is experiencing a surge in token price due to investment from certain funds. Its market capitalization has reached $110 million.
Despite being listed solely as a perpetual contract (perp) on Binance, as of June 23, RATS saw high trading volume, triggering market speculation.
Significant token unlocks this week
This week, ALT, YGG, and OP are set for unlocking, collectively releasing a total value exceeding $100 million.
AltLayer (ALT) will unlock approximately 105 million tokens on June 25th, representing 6.92% of the current circulating supply, worth about $20.3 million.
Yield Guild Games (YGG) will unlock about 16.69 million tokens on June 27th, representing 4.48% of the current circulating supply, worth about $10.7 million.
Optimism (OP) will unlock approximately 31.34 million tokens on June 30th, representing 2.88% of the current circulating supply, worth about $56.7 million.
On-chain Daily
- APE: APE is a memecoin on the Ethereum chain, featuring a monkey in a similar artistic style to Pepe.
Current Price: $0.0(4)12 (an all-time high)
24-hour Change: +108%
Current Market Value: $1.2M
Official Twitter: https://x.com/Ape_Coin_Erc20
Trading Panel: https://dexscreener.com/ethereum/0xeb30726db589d49ecaf975c6915e9b8ff7551b10
- Maganomics: Maganomics is a memecoin on the Ethereum chain. It's also a presidential election concept coin featuring Trump, with the concept being a portmanteau of MAGA (Trump’s slogan) plus ECONOMICS.
Current Price: $0.0(4)45
Historical High: $0.0(4)48
24-hour Change: +45%
Current Market Value: $19M
Official Twitter: https://x.com/maganomics2024
Trading Panel: https://dexscreener.com/ethereum/0x8c13d5a6635216513ebfb4483397be14d494ad76
- JASON: JASON is a memecoin on the Solana chain. It's a celebrity meme coin, issued by famous American singer Jason Derulo and then taken over by the community (CTO).
Current Price: $0.0026,
Historical High: $0.0057
6-hour CHange: +3255% (Token Launch Time: 6/23 13:00 UTC)
Current Market Value: $2.6M
Official Twitter: https://x.com/jasonderulo
Trading Panel: https://dexscreenercom/solana/4XmdX5Umx7qt3uvMapdXzWPQefx2WZf4tZ69XAmNyF3X
- DADDY: DADDY is a memecoin on the Solana chain, with the image of controversial American KOL Andrew Tate. The project was taken over by the community, which sent 40% of the tokens to Tate and received strong support
Current Coin Price: $0.154, Historical High: $0.362, 24-hour Increase: 26%, Current Market Value: $92M
Official Twitter: https://x.com/DaddyTateCTO
Trading Panel: https://dexscreener.com/solana/zcdaw3jpcqey8jyvxnvmqs2cu35cyddy4ot7v8ednhz
- WAT: WAT is a memecoin on the Base chain, featuring a cute mouse. Its official Twitter has not posted anything yet.
Current Coin Price: $0.00385
Historical High: $0.00567
6-hour Change: +66% (Token Launch Time: 6/23 16:00 UTC)
Current Market Value: $3.9M
Official Twitter: https://x.com/watbasewat
Trading Panel: https://dexscreener.com/base/0x9204837be1b2a051dba52109c0572471dfed460f
- Crash: Crash is a memecoin on the Base chain, with a vision of becoming the meme king in the Base ecosystem. It features the Crash Trading channel on YouTube with 105,000 subscribers, but it is currently not confirmed that the project was issued by them.
Current Price: $0.0234
Historical High: $0.0278
24-hour Change: +300%
Current Market Value: $23.4M
Official Twitter: https://x.com/BasedCrashX
Trading Panel: https://dexscreener.com/base/0xf012e803c8e73d185ac96d6c3f830893a1116e03
Daily Rune Observation
Change in Gas Fee: The current BTC transaction fee stands at 9 bytes/satoshi, marking a 10% decrease in the last 24 hours due to a down market, overall handling fees maintain at low levels.
Today's Popular Projects
RAGE•COMIC•DERP: 50,000 pieces have been issued, with 0% reserved. 46,561 pieces have been minted, with 340 pieces in the memory pool, achieving 93% of the project's minting schedule. The number of holding addresses is 524.
NIKOLA•TESLA•GOD: The minting is completed. This popular project has a market cap of $1.85 million, and a 24-hour trading volume of $28,000, the price increased by 105%. The project has 590 holding addresses in total.
HAWK•TUAH•SPIT•ON•THAT•THANG: This popular project's minting is completed. It has a market cap of $270,000, with a 24-hour trading volume of $84,000, the price increased by 42%. The project can count 926 holding addresses in total.
Top Runes Projects Tracking
DOG•GO•TO•THE•MOON: Rune #3, also known as the airdrop Runes of Runestone. Current price: 8.38 Sats, 24-hour change: -6.8%, Current Market Value: 8,379 BTC.
BANK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1. Current price: 12 Sats, so there's a 24-hour change: -25%, the current Market Value: 2,520 BTC.
RSIC•GENESIS•RUNE: Rune #8, also the Runes established by the famous RFC mining project. Current price: 8.8 Sats, 24-hour change: -10.2%, Current Market Value: 1,844 BTC.
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