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🎤 FLOKI Addresses Rumors and Denies Association with PetabyteCapital
FLOKI INU, a popular crypto meme project, addressed users on X about allegations and rumors about its projects and warned the crypto community to beware of anyone using their brand name and reputation to promote any project to them, as it is likely a scam.
FLOKI used their X handle RealFlokiInu to clarify the rumors of PetabyteCapital's association with the project. FLOKI also stated that the project does not have a founder or co-founder.
"We would like to clarify that PetabyteCapital is not and was NEVER a FLOKI co-founder. Floki is a community project in the true sense of the word and has never had a founder or co-founder. "
FLOKI made this announcement following several reports of scam projects and individuals associating themselves with them. The effort was also intensified when they saw some projects claiming to have a FLoKI co-founder to gain trust and hype around their project.
🗣️ETH/BTC UPDATE
There is a bearish flag. More likely we will see a continuation of the dump to the 0.06 points. Not so good for Altcoins in a short-term period.
❓The Rolling Stones one-of-one NFTs that aren’t NFTs
Instead of calling the limited edition NFTs, which accompany vintage, real-life photo slides, the companies handling the drop are calling them Digital Certificates of Authenticity, or DCOAs. The strategy follows recent trend to avoid using NFT terminology when launching a collection of digital collectibles targeting mainstream consumers.
The companies managing the drop, OneOf and Globe Entertainment, are using the term Digital Certificate of Authenticity, or DCOA. The trend of companies shying away from calling digital assets or tokens with utility NFTs in favor of more generic terminology like digital collectibles appears to be gaining momentum, especially when geared towards mainstream consumers.
A recent promotion for a Nicolas Cage vampire movie, Fox Entertainment using tokens as loyalty passes for fans of its show “Masked Singer,” and Reddit's avatars are all examples of NFTs being issued without using the term itself.
NFTs have come to carry a negative connotation for many as scandal and major price deterioration have plagued the digital-assets market, causing some people to sour on the once hot space.
⚡️ Bitcoin Whales Maintain Strong Stance Through Market Volatility with $1.5 Billion Accumulation.
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⚡️ Former US SEC Chair Jay Clayton Asserts Unavoidable Approval of Bitcoin ETF.
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➡️XRP Price Crash Chaos Causes 45% Discount on Major Exchange
In a dramatic turn of events, the crypto market witnessed a whirlwind of liquidations, resulting in over $1 billion in losses within a mere 24 hours. The fallout, affecting nearly 200,000 traders, sent shockwaves through the trading community. As market volatility soared, traders were left grappling with stop orders and margin calls, while a silver lining emerged for opportunistic investors seeking to exploit the downturn.
A surprising arbitrage opportunity materialized on renowned exchange Bybit, unveiling an astonishing 45% discount on the price of XRP. Distinct anomalies were observed in the derivative contracts XRPUSD and XRPUSDT, where a significant depeg occurred. Notably, the dollar-collateralized futures contract displayed a jaw-dropping value of $0.32 for XRP, while its USDT counterpart settled at $0.46. This price divergence was transient, lasting a mere 20 minutes.
For anyone curious, the arb today was between the XRPUSD and XRPUSDT contracts on Bybit. A 45% discount occurred that closed after 10-20 minutes.
Most likely, algo market makers ran out of spot XRP needed for the coin margined contract amidst the large liquidations that occurred
A prominent figure within the crypto sphere, known by the nickname "DeFi^2," offered insights into this aberration, attributing the phenomenon to the potential depletion of spot XRP among algorithmic market makers. These market forces, strained by the cascade of widespread liquidations, may have inadvertently triggered the pricing dislocation.
🌐BTC DOMINANCE UPDATE
The chart is simple as that. No point in rushing into altcoins as long as we don't see any rejection from marked resistances.
By "rushing" I mean putting more than 30% of your deposit into them. Some small trades with good setups are still okey.
🔥Reserve Bank of Australia Unveils Proposed CBDC Use Cases
The Reserve Bank of Australia said on March 3 that it has selected 14 digital currency proposed use cases from a large number of submissions obtained from industry participants. An assistant governor at the RBA, Brad Jones, said the Aussie central bank is encouraged by the composition of providers that have been “invited to participate in the live pilot.”
The Australia central bank, which has been exploring the benefits of central bank digital currency (CBDC), recently announced the digital currency’s proposed use cases as well as the names of providers “invited to participate in the live pilot.” In a press statement, the bank, which is known as the Reserve Bank of Australia (RBA), said the chosen use cases were selected from a large number of submissions from industry participants.
Brad Jones, an assistant governor at the RBA, is quoted in the statement lauding the industry participants’ willingness to engage regulators. Jones said:
We are delighted with the enthusiastic engagement by industry in this important research project. It has also been encouraging that the use case providers that have been invited to participate in the pilot span a wide range of entities in the Australian financial system, from smaller fintechs to large financial institutions.
🔥 BTC UPDATE
Despite the overall bearish market mood, I tend to believe it is time for at least a small growth upwards.
The price found a solid support at the $25,870 level. We may see a fake breakdown to $25,500 - $25,600 zone, but from there we expect to see a growth.
The setup will be invalidated in case of $25,300 breakdown.
✔️Decentraland And Polygon Join Hands To Host An NFT Music Festival In The Metaverse
Decentraland, the popular 3D virtual world on-chain browser-based platform, has partnered with Polygon Labs, the team behind an Ethereum scaling solution network, to host their annual non-fungible token music festival in the metaverse. In a June 16 site publication, Polygon Labs, a digital asset incubation studio, confirmed ready plans to host its annual music festival this Saturday.
Polygon Labs has partnered with Decentraland to host the NFT music event in the mataverse this week. The highly anticipated music festival will bring together more than fifteen music producers and artists in the metaverse and fuse them with more than 5 million meterverse users globally.
The metaverse music event will showcase the exceptional talents of renowned musicians, including Green Ring, a digital artist who makes melodic music; Felice LaZae, a boundary-pushing producer, musician, and performer and Lucy Crow, an Italian singer, and songwriter.
Other will include Genesis Barrios, a Cuban-American artist, producer, and Software engineer; Shefali, an electronic music producer and vocal artist; Violetta Ziloni, a web3 artist; and Xena Mars, the secretive break core acceleration artist.
💸The Ethereum Name Service (ENS) has teamed up with MoonPay to make it easier for users to purchase and register .eth domain names without having to purchase Ethereum and set up a crypto wallet.
ENS simplifies the process by providing easily readable names like "xyz.eth," eliminating the need for long, complex alphanumeric addresses.
This partnership aims to increase mainstream adoption by allowing users to use familiar payment options such as Apple Pay and Google Pay.
⚠️Binance Overturns Restriction on Privacy Coins for European Customers
Binance's initial plan to delist specific privacy coins in certain EU nations has now been reversed as the company undertook revisions to ensure compliance with regional regulatory requirements.
The global crypto exchange said that it would reverse its initial plans to halt the trading of privacy tokens in Spain, France, Italy and Poland, after considering community feedback and engaging with various projects.
Last month, Binance told European users over email, that it would no longer offer 12 privacy-focused coins, starting June 26. However, the exchange said it would spare seven tokens from delisting from the four EU nations, including Decred (DCR), Dash (DASH), Zcash (ZEC), PIVX (PIVX), Navcoin (NAV), Secret (SCRT) and Verge (XVG).
"Beam (BEAM), Monero (XMR), MobileCoin (MOB), Firo (FRO) and Horizen (ZEN) are still included in the restrictions," Binance told The Block.
“After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements,” a Binance spokesperson told cryptonews via email.
🔼Arbitrum (ARB) on Solid 8% Rise as Whales and Andrew Kang Chipping In
Arbitrum (ARB), the token associated with the popular Layer 2 scaling solution, is witnessing a solid 8% surge in its price. Interestingly, the rise comes amid prominent cryptocurrency investors, including Andrew Kang, significantly increasing their holdings. This bullish activity offers a glimmer of hope following a challenging market period for ARB, which had seen its value dip by 29% over the last few days.
Andrew Kang, known for his acumen in spotting and backing promising projects, has made a significant move toward ARB. He sold all of his holdings in RDNT, only to reinvest the proceeds in ARB, purchasing a total of 723,311 ARB, equivalent to $867K, at an average price of $1.2 per token.
Notably, he then proceeded to deposit all of his newly acquired ARB tokens into RDNT Capital, suggesting an optimistic outlook on the token's future performance.
Additionally, another whale, known by the address "0xf59b," has also decided to capitalize on ARB's rise. This entity deposited 1.2 million ARB ($1.5 million) into OKX.
The fact that these tokens were withdrawn from OKX on May 8 and potentially purchased at around $1.2 indicates the whale was waiting for a price increase to take advantage of their holdings.
It seems that Andrew Kang is leveraging his position to go long on ARB through RDNT Capital. By buying ARB, depositing it, borrowing USDC and then buying more ARB, he is effectively doubling down on his investment, illustrating strong confidence in ARB's potential growth.
These recent large-scale investments reflect increased optimism toward Arbitrum's Layer 2 solution, despite its recent challenges on the market. With the slowly rising activity on Ethereum network after the most recent drop, L2 networks might go through another bullish cycle.
👀NEAR is a great pick for long run! The price has bounced right at the channel support and ready to jump!
Blue zone is for buying, my targets are on the chart!
🗣️BabyDoge Achieves New Big Community Milestone
Twitter account of popular meme cryptocurrency BabyDoge has announced that the number of its followers has surpassed 1.45 million.
On April 29, this number was still at the 1.3 million level, while in February it stood at 1 million. Thus, over the past 5 months, the growth has been nearly half a million Twitter followers.
This is not the only milestone reached by BabyDoge recently. As reported by U.Today, earlier this week the number of the BabyDoge circulating supply was finally verified by CoinMarketCap.
Besides, the BabyDoge holder number has spiked to reach an all-time high of 1,550,000 addresses.
At press-time, the price of the meme token is holding at $0.000000001177, showing a decline by 3.46 percent in the past 24 hours.
🔔Binance's New Platform in Japan to Provide Full Services from August
Binance revealed that it is finally ready to roll out its full services on its recently-launched subsidiary platform in Japan. The confirmation came from the exchange’s founder, Changpeng Zhao, during a conference in Tokyo earlier today, which he attended via video.
Zhao said that the services will become available in full starting in August 2023. In late May 2023, Binance announced a new platform in Japan.The platform was compliant with the local regulations and designed to provide services to Japanese users.
However, the exchange also said that it would take some time before it can launch its full services in the country. The company was able to enter the Japanese market thanks to its purchase of Sakura Exchange BitCoin in November 2022.
Acquisitions such as this one have been a common practice for companies to enter new markets. Sakura Exchange BitCoin provided Binance with an entry point into the market, and the exchange took it.
➡️OpenSea implements 0% fees to win over NFT user base lost to Blur.
NFT marketplace Blur surpassed OpenSea in daily ETH trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor.
Major nonfungible token (NFT) marketplace OpenSea announced a massive structuring around lower platform fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base.
According to data from Nansen, on Feb. 18, NFT marketplace Blur surpassed OpenSea in daily Ether trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor.
Daily trading volume of major NFT marketplaces. Source: Nansen
As a reactionary measure, OpenSea announced three major changes to win back its migrating customers. The measures include a 0% fee for a limited time, introducing optional creator earnings and leniency on other operators.
☄️We are approaching a zone where Crypto Trading becomes Extremely Easy
Look at the MATIC as an example:
There is a $0.39 support that holds the price for 2.5 years already. The team just can't let bears to break it, otherwise the Polygon project is dead.
Easy buying spot with 0 risks. Same case on other coins.
📌Blockchain Startup Story Protocol Secures $54 Million Funding Led by Andreessen Horowitz
Story Protocol, a startup that uses blockchain tech to track intellectual property (IP), has secured more than $54 million in funding driven by venture capital giant Andreessen Horowitz (a16z) crypto.
The open-source platform was launched Wednesday and aims to “democratize” IP creation through a worldwide extensible IP vault, a company release noted. Put simply, Story Protocol would simplify the process associated with maintaining IP and address creators’ concerns, particularly around the recent rise in generative AI (artificial intelligence).
“In a world of total abundance catalyzed by generative AI, blockchain technology presents the perfect solution for transparent provenance tracking and fair attribution,” Story Protocol Co-Founder Seung Yoon Lee said in a press release.
Lee noted that the company aims to create a “new era of entrepreneurial creators” by helping existing IP holders to engage audiences and advance their IP.
Furthermore, the platform’s framework manages the entire lifecycle of intellectual property development by enabling features including provenance tracking, licensing and revenue sharing.
The company’s vision is to create, govern, and license intellectual property on-chain, forming an ecosystem of story legos that can be remixed and composed. This approach enables creators to build narrative stories with ownership and incentives.
↗️MATIC started moving and reached the first target, printed +55% profit on Futures.
Keep holding this position with the stop loss at break even point.
➡️Beeple Goes Punk With $208K NFT Purchase
The artist who created the most expensive non-fungible token ever sold has finally made his first profile-picture NFT purchase.
On Tuesday afternoon, Mike Winkelmann, better known as Beeple, bought CryptoPunk 4953 for 113.7 ETH, which cost him $208,000, according to data from Etherscan.
Last week, Beeple posted a tweet sharing he was “in the market for a punk,” claiming he had “never actually purchased a single PFP.” Several days later, he asked his followers what the best traits were for his punk purchase.
While Beeple didn’t immediately confirm he purchased the punk, CryptoPunks Brand Lead Noah Davis posted a tweet sharing a text conversation he had with Beeple about the NFT purchase. It’s somewhat of a full circle moment for Davis, who previously worked in digital art sales at auction house Christie’s and helped facilitate the record-breaking $69 million sale of Beeple’s Everydays: The First 5,000 Days in March 2021.
Late Tuesday evening, Beeple shared an original digital artwork titled “A Punk Is Born,” featuring himself made up as his new punk, with CryptoPunk 4953 in the upper right corner of the image as well as on the tiny computer screen.
Beeple chose one of the rarer punks in the collection, making his purchase the most expensive NFT sold in the past 24 hours according to data from CryptoSlam.
⚡️Ripple Emerges as a Leading Global Digital Payment Company in CNBC's Top 40 Ranking.
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👀Coinbase CEO Firmly Denies Immediate Departure from US Amid Regulatory Challenges.
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🔼36 Trillion Shiba Inu Remain Profitable for Active SHIB Addresses Amid Decline
According to IntoTheBlock's active addresses by profitability, 36.75 trillion Shiba Inu positions are at the money at the current price.
IntoTheBlock classifies addresses based on whether they are profiting (in the money), breaking even (at the money), or losing money (out of the money) on their positions at the current price.
At the time of writing, SHIB was up 1.12% in the last 24 hours to $0.00000828. The token is up 6.06% in the last seven days.
Per the indicator, a volume of 36.75 trillion SHIB was acquired by 1,710 addresses at the current price of around $0.000008. The volume of Shiba Inu bought might suggest that the price is gradually building up major support near the $0.000008 mark.
This is because SHIB aspires to match its recent network growth with corresponding price action. In a new tweet, the official Shiba Inu Twitter account makes it known that the SHIB community is growing at warp speed.
This comes as a new all-time high is reached in the number of addresses holding SHIB, which has seen a remarkable 22% increase in the past week. Not only this, but Shibarium keeps setting new milestones.
👥BTC UPDATE
More than $1B of LONGs were liquidated during the dump. Absolute record since the FTX crash.
What can we say about the current state of market? The price reached a solid support of $25,000. As you can see, it was a second time when bulls bought all the sales at this level.
Now the target for the price is retest of the ascending trend line (that was broken downwards yesterday). The main resistance is $28,730. As long as the price remains below it, the market is neutral and more bearish than bullish.
The main support — $25,000. If we break it down, up-trend is lost.
🍔Curve Finance Offers Public Bounty of $1.85 Million to Identify Hacker
Curve Finance, the troubled DeFi platform that lost over $60 million last week in an exploit, has announced a bounty of $1.85 million to anyone who can identify the exploiter.
In a Tweet Monday, the DeFi protocol noted that the deadline for the “voluntary return of funds” in the Curve Finance heist has already passed.
“We now extend the bounty to the public, and offer a reward valued at 10% of remaining exploited funds (currently $1.85M) to the person who is able to identify the exploiter in a way that leads to a conviction in the courts.”
The on-chain message further read, “if the exploiter chooses to return the funds in full, we will not pursue this further.”
Following the heist, Curve offered the anonymous hacker 10% of the stolen funds for returning the entire assets by August 6. Other impacted protocols, including lending protocol Alchemix and NFT lending protocol JPEGd, joined Curve in this offer.
The DeFi projects have assured as an incentive that they will not pursue any further actions or legal convictions, provided the exploiter(s) voluntarily return the stolen funds.
⚡️Ethereum managed to close 1D candle above the Falling Wedge resistance!
Great sign of a strength, Ethereum is absolutely ready to strongly outperform Bitcoin during the upcoming rally.
📣Sotheby's Second 3AC NFT Auction Includes Landmark Dmitri Cherniak Work
Sotheby's is set to auction off more non-fungible tokens (NFTs) seized from bankrupt crypto hedge fund Three Arrows Capital (3AC), bringing high-value NFTs like Dmitri Cherniak's Ringers #879 (often referred to as "The Goose") out from the vault for the first time since 2021.
The second sale of 3AC collectibles from the "Grails" collection will be held in New York on June 15 and will feature 37 works from generative artists like Dmitri Cherniak, Tyler Hobbs, Jeff Davis and more.
In a press release, the auction house said that the sale will mark the largest-ever live auction of digital art.
"For the live auction, we specifically wanted to focus on showcasing generative art, and the sale was curated to reflect not only the collection’s deep holdings of some of the most sought-after and renowned generative artists in the movement, but also to spotlight the wider community of artists pushing the boundaries of the algorithm-based art," Micahel Bouhanna, Sotheby's head of digital art and NFTs, told CoinDesk.
Highlights from this batch of NFTs include Cherniak’s Ringers #879, a seminal generative artwork that has become known as "The Goose" for its resemblance to the bird. The collectible was purchased by 3AC co-founders Su Zhu and Kyle Davies in August 2021 for about 1,800 ETH – worth roughly $5.8 million at the time.
Bouhanna called this piece a major highlight of Cherniak's portfolio and "one of the most significant works from the generative art movement."
"What makes it so special is the unique variation caused by the randomness of its generation, creating the goose-like image at the center, and perfectly encapsulating the realm of possibilities inherent in algorithmic art," he explained.
In addition, Hobbs’ Fidenza #216, a swirling, colorful piece that last sold for 320 ETH (about $1 million) in 2021, will be made available for purchase
‼️Elon Musk Denies Creating Own Cryptocurrency for X (Twitter).
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➡️KPMG Report Endorses Bitcoin as Environmentally Friendly Investment.
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