10x Research: Crypto mining stocks may rise further, but it is recommended to invest in the bullish trend of Bitcoin
According to a report by 10x Research titled "The Escalating Bitcoin Mining War - How to Participate?", Bitfarms is believed to be the primary beneficiary of the ongoing consolidation in the Bitcoin mining industry. While stocks of cryptocurrency mining companies like Bitfarms may continue to rise, it is more favorable to invest in the potential bullish trend of Bitcoin. Despite MicroStrategy's announcement of a proposed private placement of $500 million in convertible senior notes to purchase more Bitcoin, the market reaction has been relatively calm compared to the fourth quarter of 2023 and the first quarter of 2024, when these news led to a significant increase in retail speculation and funding rates.
LeverFi releases investigation results on LEVER token volatility, saying it may be caused by a large investor manipulating Binance Futures
LeverFi has released the results of a survey on the volatility of LEVER tokens. On June 12th at around 04:45 UTC, LEVER tokens experienced a significant market fluctuation, dropping by as much as 40% in just two hours.After investigation, it was found that there were no security or smart contract vulnerabilities, so the market fluctuation was likely caused by market-related behavior.The investigation pointed to a short-term short-selling attack attempting to manipulate the volatility of LEVER in the Binance contract market. It is suggested that the market fluctuation was likely caused by a speculative big player or cartel attempting to manipulate the LEVER trading market.In the Binance spot and Bithumb exchanges, the buying and selling volumes are roughly equal, with the buying transaction volume even exceeding the selling transaction volume, indicating a normal and positive trading market.
Mask Network launches Mask Staking Season 1, stakers can get points and RSS3, TON rewards
On June 15th, Mask Network announced the launch of the first season of Mask Staking at 8:00 AM Beijing time. Participants can earn points and receive rewards of 700,000 RSS3 and 40,000 TON by staking MASK.
Mande Network: Mainnet RollApp will be launched on June 14
Mande Network, a blockchain-based reputation network built on Dymension and Celestia, announced that its mainnet will soon be launched on the X platform. The mainnet RollApp will be released on June 14th.
QCP Capital: Non-farm payrolls exceeding expectations triggered risk aversion in the market, and this decline is a good opportunity to buy on dips
QCP Capital posted on their official channel that the unexpected and above-forecast non-farm data and rise in unemployment rate are enough to trigger a risk-off sentiment before the release of US inflation data and FOMC next Wednesday. Additionally, Roaring Kitty's live stream attracted nearly a million viewers, during which GME stock prices plummeted. Shanzhai coins and Memecoins also began to collapse, with a market value evaporating over $40 billion, which may not be a coincidence. QCP Capital saw bullish fund flows in this downturn, including sellers of aggressive put options and buyers of bullish spreads, especially in BTC. BTC and ETH subsequently rebounded from lows of $68,300 and $3,575, respectively. QCP Capital stated that they agree that this downturn is a good buying opportunity, as the market will increasingly digest the impact of Fed's at least one rate cut. As other countries around the world continue to cut rates, the US will find it difficult to ignore this.
PEOPLE breaks through 0.1 USDT, with a 24-hour increase of 30.06%
Daily News OKX market shows that PEOPLE has broken through 0.1 USDT and is currently trading at 0.10222 USDT, with a 24-hour increase of 30.06%.
U.S. Senator Cynthia Lummis: Biden missed an opportunity to "correct" his stance on the crypto industry
US Senator Cynthia Lummis, who supports the cryptocurrency industry, said that President Biden's decision to veto the controversial cryptocurrency accounting standard SAB 121 missed the opportunity to "correct" his position on cryptocurrency assets. Lummis stated on X platform that Congress gave the government the opportunity to correct its position on cryptocurrency assets. I will not stand idly by because the government is trying to circumvent the law. I will continue to work to promote financial innovation and provide crucial protection for cryptocurrency assets that this administration seems determined to stifle.
A trader made a profit of $1.72 million on PEW in 4 days
Lookonchain monitoring shows that a trader made a profit of $1.72 million in just 4 days by trading PEW with only 3.2 ETH ($12,300). The trader spent 3.2 ETH to buy 27.05 billion PEW within 3 minutes of its opening, and then sold 8.05 billion PEW for 83.5 ETH ($315,000).
A new wallet created by an insider spent 1,370 yuan SOL to buy 632 million CAT
Lookonchain monitoring shows that someone (an insider) created a new wallet and spent 1370 SOL tokens (worth 230,000 USD) to grab 6.32 billion CAT tokens (63.2% of the total supply). We tracked that they have sold some of the CAT tokens and received about 29,525 SOL tokens (5 million USD).
The current cryptocurrency market cap is around $2.5 trillion
Cointelegraphresearch stated that the total market value of cryptocurrencies is about $2.5 trillion, which is lower than the historical high point of slightly over $3 trillion in 2021.
