Review of this week｜Inscription Pizza has completed the engraving and triggered Fomo; Sanctum, Aethir, Taiko and other projects announced airdrop det

BlockBeats will organize the key industry news content of the week (June 3-June 9) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.

 

Important News Review

 

Binance Launches the 55th Project of Newcoin Mining, Using BNB and FDUSD to Mine IO.NET (IO); IO.NET Announces IO Token Economics

 

On June 6, Binance Launches the 55th Project of Newcoin Mining - IO.NET (IO), a decentralized artificial intelligence computing and cloud platform. Users can invest BNB and FDUSD into the IO mining pool on the Launchpool website after 08:00 on June 7, 2024 to obtain IO rewards, and can mine for a total of 4 days. Binance will list IO.NET (IO) at 20:00 (ET) on June 11, 2024, and open IO/BTC, IO/USDT, IO/BNB, IO/FDUSD and IO/TRY trading markets, with seed tag trading rules applicable.

 

Binance announcement shows that the IO.NET (IO) token economics are: maximum supply of 800 million tokens; initial total supply of 500 million tokens, initial circulation of 95 million tokens (19% of the initial total supply of tokens), and total Binance mining of 20 million tokens (4% of the initial total supply of tokens). IO.NET has raised $40 million through two rounds of private placements, with the latest valuation of $1 billion. Related reading: "Understanding Binance Launchpool's latest project io.net: connecting global GPU resources to reshape the future of machine learning"

 

Sanctum announces CLOUD token economics: 10% of token supply allocated in initial airdrop

On June 5, FP Lee, developer of Solana ecosystem liquidity staking protocol Sanctum, posted on social media announcing the CLOUD token economics. Specific information includes: total amount: 1 billion; initial circulating supply: 180 million (18%); community reserve: 30%; strategic reserve: 13%; team: 25%; investors: 13%. Related reading: "Sanctum Token Economic Model Announced: Total 1 Billion Tokens; Initial Airdrop Accounts for 10%"

 

BNB breaks through $700 to hit a record high, market value surpasses Starbucks

On June 5, BNB broke through $700, reaching a high of $720.67, a record high. At the same time, 8marketcap data showed that BNB's market value reached $105.85 billion, surpassing coffee giant Starbucks (market value of approximately $93.77 billion), ranking 170th in global asset market value.

 

Robinhood will acquire cryptocurrency trading platform Bitstamp for $200 million in cash

On June 6, Robinhood announced that it would acquire global cryptocurrency trading platform Bitstamp. It is reported that the acquisition will be completed in the form of $200 million in cash. The announcement stated that this strategic combination will enable Robinhood to better expand outside the United States and will bring Robinhood trusted and reputable institutional business. The acquisition is expected to be completed in the first half of 2025, subject to customary closing conditions, including regulatory approval. Perhaps affected by the news, Robinhood's stock price rose 2.27% in pre-market trading that day, now at $22.06.

 

Bybit platform user certification countries and regions increased China (CN)

On June 5, several social media users reported that Bybit platform user certification countries and regions increased China (CN).

 

The Bank of Canada and the European Central Bank announced interest rate cuts this week

On June 5, the Bank of Canada cut interest rates by 25 basis points for the first time since 2020, in line with market expectations, becoming the first central bank in the Group of Seven to start an easing cycle. Officials said they were more confident that inflation would move toward the 2% target and said that if progress continued, "there is reason to expect further interest rate cuts." "With more and more consistent evidence that underlying inflation is easing, monetary policy no longer needs to be as restrictive as before," said Governor Macklem. Since the beginning of the year, inflation in Canada has slowed faster than expected. CPI slowed to 2.7% in April, while the central bank forecast 2.9% in the second quarter. Underlying price pressures have also eased for four consecutive months, with the average of the two core indicators reaching 2.75% in April.

On the 6th, the European Central Bank announced a 25 basis point interest rate cut, the first since 2019. The ECB said it would maintain sufficiently restrictive interest rates as long as necessary. At the same time, the ECB said it was determined to get inflation back to 2% in a timely manner and reiterated plans to reduce the PEPP portfolio in the second half of 2024. Traders expect the ECB to cut interest rates by another 40 basis points this year.

 

Hong Kong Securities and Futures Commission Chief Executive: Bitcoin has experienced multiple cycles of rise and fall in the past 15 years, proving its ability to survive as an alternative asset

On June 6, Hong Kong Securities and Futures Commission (hereinafter referred to as the Hong Kong Securities and Futures Commission) Chief Executive Leung Fung-yee pointed out at the Greenwich Economic Forum (Hong Kong) that it is important to make good use of technology and focus on distributed ledger technology (DLT). Leung Fung-yee pointed out that DLT is applied to virtual assets in the financial market. Bitcoin has experienced multiple cycles of rise and fall in the past 15 years, proving its ability to survive as an alternative asset. What is more certain is that as the underlying technology of Bitcoin, DLT will stand the test of time. The potential advantages of DLT are obvious. This technology can improve the efficiency of physical assets in distribution, clearing, settlement and custody, while reducing costs.

 

Aethir releases airdrop details: 6% of total supply will be used for airdrops, Season 1 airdrop will be available on June 12

On June 5, Aethir officially announced the airdrop details of the project token ATH. It is reported that the total supply of ATH is 42 billion, of which 2.52 billion (6%) have been reserved for airdrop rewards. The Aethir airdrop event will be divided into three Seasons. Season 1 (Aethir Cloud Drop; 630 million tokens allocated) ended on May 29. The rewards for Aethir Cloud Drop will be collected on June 12 through a dedicated collection platform.

 

In Season 2 and Season 3, rewards will be reserved for those who actively participate in Aethir mainnet activities, including staking ATH, actively delegating Checker Node licenses to promote the daily operation of the network, and holding the initial reward amount. Another 50% of the total supply at ATH is reserved for the Aethir community, with 15% going to Aethir Checker node rewards and another 35% going to Aethir cloud computing container operators (23% for edge computing providers and 12% for enterprise computing providers). The other 44% is allocated to investors, ecosystem and team.

 

Mastercard will resume cryptocurrency payment and deposit services on Binance

On June 6, CoinDesk reported that Mastercard will resume cryptocurrency payment and deposit services on Binance. Mastercard withdrawal services have not yet been restored, but are expected to be restored later. In addition, Binance-branded Visa cards have also been restored on the exchange. A Binance spokesperson said via email: "After an extensive review of the strict controls and processes implemented by Binance, Mastercard decided to allow Binance-related purchases on its network. We look forward to adding support for more products (such as withdrawals) in the future."

 

Web3 security company GoPlus completes $10 million private round of financing, OKX Ventures and others participate

On June 5, Web3 user security network GoPlus completed $10 million in the third round of financing to create a Web3 modular user security layer. This round of financing was participated by well-known fund institutions and investors such as OKX Ventures, HashKey Capital, Web3Port, Fenbushi, Redpoint China, Quantstamp, Animoca Brands, Undefined Labs, 7UpDAO, Ash Crypto and Richard Ma. This is another milestone after the private II and private II+ rounds led by Binance Labs and Red Point in 2023, with a total financing amount of $25 million.

 

Uniswap may announce important news in the near future, and UNI has risen by more than 5% in a short period of time

On June 4, Uniswap officially issued a message "Get ready for the super big event" with a countdown video, and may announce important news in the near future. Affected by this, UNI rose by more than 5% in a short period of time.

 

This week, Bitcoin Rune saw a general rise, and the total market value exceeded 2.1 billion US dollars

On June 5, GeniiData data showed that the total market value of Bitcoin Rune exceeded 2.1 billion US dollars, reaching 2.16 billion US dollars, with a 24-hour increase of 3.00%. The total transaction volume in 24 hours reached 17.34 million US dollars (+16.34%). The unit price of Rune Ecosystem's head project DOG•GO•TO•THE•MOON exceeded 0.009 US dollars, and its market value has reached 925 million US dollars.

 

10x Research: Head and Shoulders Bottom Pattern Indicates Bitcoin Will Soon Rise to $83,000, Resistance Line May Be Broken in the Next Days

On June 7, according to the latest article from 10x Research, "It is only a matter of time before Bitcoin hits a new all-time high. The head and shoulders bottom pattern indicates that BTC will soon rise to $83,000, and the resistance line may be broken in the next few days. The ideal time to break this resistance is either today, Friday, June 7, or next week, Wednesday, June 12. A few days ago, we pointed out that the global central bank easing cycle is about to begin, and this week's rate cuts in Canada, Denmark and Europe also confirmed this. With the weakening of US economic growth, employment and consumer spending, it is only a matter of time before inflation slows. Although the Federal Reserve has only raised interest rates from May to November before the US presidential election in the past 30 years, it has not yet reached a new high. The rate cut occurred once during the month, but risk assets are primarily determined by market expectations of rate cuts, not necessarily actual rate cuts. This makes us bullish on risk assets overall, and we expect Bitcoin to set new all-time highs. However, if Bitcoin fails to set sustainable new highs, the reason may be the sharp drop in Ethereum prices, as we pointed out earlier this week. We are monitoring the $3,725 support level. As traders and market analysts, we must consider every scenario and think ahead. "Related reading: "10x Research: Where is the signal for Bitcoin to break upward"

 

PIZZA has been inscribed and airdropped, and the unit price has exceeded 6 US dollars

According to UniSat data, Pizza inscription has been completed and distribution has begun. After the online transaction, it once triggered market fomo. The current unit price of pizza is around 6-7 US dollars. BlockBeats previously reported that on May 23, according to official news, UniSat announced that it would airdrop the "PIZZA" inscription to eligible user wallets. After the user claims on the page, there is no need to pay a handling fee. UniSat will send the inscription to the user's wallet after the inscription is completed. This gift is a thank-you gift to UniSat's long-term supporters and should not be regarded as an investment advice.

 

Trump's cryptocurrency holdings exceed $31 million

On June 5, thanks to the rise in the price of MEME tokens in the address, the value of Trump's address holdings exceeded $31 million, reaching $31,516,650.93. Among them: TRUMP position is worth $7.61 million; TROG position is worth $19.57 million; ETH position is worth $1.79 million.

 

ZK (zkSync) is now available on PancakeSwap pre-market trading market

On June 4, PancakeSwap pre-market trading market (PancakeSwap Perpetual v1) has opened ZK (zkSync) trading.

 

A college student was sentenced to 4 years and 6 months and fined 30,000 yuan for issuing dog coins and withdrawing the pool

On June 6, according to The Paper, "post-00" college student Yang Qichao issued a virtual currency called BFF on an overseas public chain, and was jailed for withdrawing liquidity. The procuratorate accused him of issuing fake virtual currency. After others were misled to recharge 50,000 USDT, Yang Qichao quickly "withdrew his investment", causing others to lose 50,000 USDT, and his behavior constituted the crime of fraud. On February 20, 2024, the People's Court of Nanyang High-tech Industrial Development Zone in Henan Province found Yang Qichao guilty of fraud at the first instance and sentenced him to 4 years and 6 months in prison and a fine of 30,000 yuan. Relevant lawyers introduced that in the case where my country's laws and policies have not yet recognized the legality of virtual currency and "investment in virtual currency losses are at your own expense", this case of withdrawing liquidity due to the issuance of virtual currency was brought to court as a criminal case, which is the first case in China.

 

Data: Nearly 500,000 tokens were created on the Solana blockchain in May

On June 4, The Block reported that due to the low entry threshold and the surge in demand for creating popular memecoins, nearly 500,000 tokens were launched on the Solana blockchain in May. Data shows that 455,000 tokens were created on Solana in May, compared with 177,000 tokens created on Ethereum Layer 2 Base and 39,000 tokens created on the BNB chain. Less than 20,000 tokens were created on the Ethereum mainnet and Layer 2 networks Arbitrum and Optimism.

 

Data: There are 6 crypto communities among the top 10 channels in Telegram

On June 5, TGStat, a website that ranks traffic data of Telegram channels, showed that there are 6 crypto communities among the top 10 channels in Telegram, ranked by the number of subscribers. These include: Hamster Kombat Announcement (26.33 million people), tapswap community (18.42 million people), Notcoin Community (10.76 million people), Blum: All Crypto-One App (7.55 million people), CRYPTO JOKER (5.738 million people), and CRYPTO INSIDER (4.7587 million people).

 

Vitalik: Very dissatisfied with the experiment of celebrities issuing MEME coins

On June 5, Ethereum co-founder Vitalik responded to the discussion about "celebrities issuing MEME coins" and said, "So far, I am very dissatisfied with this round of celebrity experiments." "Financialization is a means to an end", and if the end is worthwhile (health care, open source software, art, etc.), I can respect that. But financialization as an end product, (vomiting emoji). Ashton and Mila's "Stoner Cats" is far more glorious than anything we've seen in the celebrity MEME era of 2024 - at least a real show was funded. How do we push things in a better direction?". Related reading: "MOTHER 1,000 times a week, will Vitalik be "slapped in the face" by celebrity coins? 》

 

Justin Sun continues to buy LRT PT tokens

On June 4, according to on-chain analyst Ember’s monitoring, Justin Sun used the 0x7a9 address to spend 18,000 ETH (about 67.86 million US dollars) to buy 3 LRT PTs due on June 27 to earn a fixed income of about 17%~21% APY in currency. 10,000 ETH bought 10,111.937 PT-weETH (1:1 exchange for weETH on June 27); 5,000 ETH bought 5,082.9 PT-pufETH (1:1 exchange for pufETH on June 27); 3,000 ETH bought 3,025.9 PT-rsETH (1:1 exchange for rsETH on June 27). Then Justin Sun continued to buy PT tokens, and as of this weekend, he spent more than 50,000 ETH on this type of operation. Related reading: Analysis of "Sun Ge's Arbitrage Method": 33,000 ETH bought PT tokens, what is the profit? 》

 

U.S. SEC Chairman: The next stage of ETH spot ETF approval "will take some time", and the final trading time depends on the speed of the issuer's response

On June 5, U.S. SEC Chairman Gary Gensler said in an interview with CNBC that the next stage of ETF approval "will take some time". When the spot ETF linked to the cryptocurrency Ethereum will begin trading depends largely on the speed of the issuer's response to the SEC's inquiries.

 

MicroStrategy and its founders ended the tax evasion lawsuit with a $40 million settlement fee; several institutions are bearish on Microstrategy's stock price

On June 3, the New York Times reported that the District of Columbia Attorney General reached a $40 million settlement agreement with billionaire Bitcoin investor Michael Saylor and the software company he founded, MicroStrategy, to end a lawsuit accusing him of evading income taxes. The lawsuit accused Saylor of evading more than $25 million in income taxes. The attorney general sued the tech executive and MicroStrategy in 2022, alleging that he used the company's help to file false tax forms from 2005 to 2020.

 

On June 7, several institutions were bearish on Microstrategy's stock price, with a short position of $6.9 billion. However, the confidence of short sellers seems to be waning as Microstrategy's stock price has almost tripled in six months. The largest position is about $2.4 billion. The short ratio of MicroStrategy stock has dropped from 3.1 days to 1.5 days in the past six months, a decrease of nearly 50%.

 

TON ecological game Hamster Kombat is hot; airdrops will depend on hourly profits and other activity parameters

On June 6, the official of Hamster Kombat, a click-type game based on Telegram, said that its number of users has exceeded 100 million. On the 7th, Hamster Kombat posted again that the user airdrop distribution will depend on the hourly profit and some other activity parameters released by the team in the future, rather than the number of token balances. In addition, due to the large number of users, the team is working on repairing the server to provide a better experience.

 

The first phase of TAIKO token airdrop is now open for collection

On June 5, according to official news, the first phase of TAIKO token airdrop is now open for collection. The claim period is from June 5, 2024 to July 5, 2024. Users need to pay a small amount of Gas to claim the airdrop.

 

Hot articles this week

 

《Dialogue with KOL｜From Novice to Alpha Hunter, the Grassroots Counterattack of Yu Zhong Kuang Shui》

The powerful KOL that BlockBeats recently talked to is Yu Zhong Kuang Shui ( @0xSleepinRain ). From a "cryptocurrency novice" to a Weibo celebrity, and then to running his own paid community, his growth trajectory is definitely an inspirational example of a grassroots retail investor's counterattack. Among a group of powerful players, Yu Zhong Kuang Shui gives people the feeling of being a model student in the class, organizing and sharing his study notes every day. In his words, the secret of his success is "the early bird catches the worm."

 

《Analysis of "Sun Ge's Arbitrage Method": 33,000 ETH buy PT tokens, what is the profit? 》

On June 4, TRON founder Justin Sun made a large purchase of Pendle PT tokens, enjoying a low-risk arbitrage operation with an annualized rate of return of nearly 20%, which became the focus of community attention. This article will explain where the benefits of this wave of operations come from, explore the related risks, and provide risk avoidance strategies for readers' reference.

 

《After NOT, what other ambush opportunities does the TON ecosystem have? 》

NOT is undoubtedly the focus of the recent crypto market. After being listed on Binance and falling for more than ten days, NOT started the "violent pull-up" mode. In just one week, NOT's highest increase exceeded 400%. The outbreak of NOT is inseparable from the crypto market's expectations for the TON ecosystem. After NOT, other projects in the TON ecosystem have also received a lot of overflow attention. What are the projects still active in the TON ecosystem? BlockBeats will introduce 9 projects worthy of attention and interaction in this article.

 

《What factors drove the surge in NOT? 》

NOT is the first "high-quality" token in the TON ecosystem. By high-quality, I mean that it has the attention of investors and is supported by the $TON ecosystem and Binance. It is certain that as the price of TON rises, other tokens will follow. A better strategy may be to research and look for other tokens in the $TON ecosystem that may follow the success of $NOT. On June 3, public data showed that the $NOT token rose nearly 40% in the past 24 hours and more than 280% in 7 days. What factors drove the surge in NOT? Different analysts have also given answers from the perspective of token structure, recent catalysts, and secondary market trends.

 

《MOTHER 1,000 times a week, will Vitalik be "slapped in the face" by celebrity coins? 》

Recently, celebrity memes have swept the crypto community again, from JENNER released by Kardashian's transgender stepfather Caitlyn Jenner to MOTHER released by female rapper Iggy Azalea. The hundreds of times increase has brought the madness of meme coins to a new level. Such a crazy scene finally angered Ethereum co-founder Vitalik Buterin. On June 5, Vitalik said on the social media platform "So far, I am very dissatisfied with "this round of celebrity experiments"," and even attached a "vomiting" expression in the tweet.

 

《LayerZero Airdrop Hunter: We are the tools of false prosperity on the chain, and the donkeys that are killed after unloading the mill》

This "witch hunt" has elevated the game between the project party and the "fleecing" party to a new stage: censorship, self-exposure, and rewards for reporting. These words, which run counter to the spirit of encryption freedom, have aroused a lot of controversy. The "fleecing" who once had the upper hand no longer have the advantage as the Web3 industry develops step by step. Both sides have good reasons: the project party hopes to airdrop tokens to real users, rather than studios that sell them en masse as soon as they go online; the studio said that after paying real money to help the project improve data and test performance, it was abandoned like a rag.

 

《“Reshuffle” is coming, Pizza and DOG have become the new favorites on Bitcoin》

The two hottest meme assets in the Bitcoin ecosystem recently are DOG and Pizza. As Bitcoin has risen to $71,000 again, the market has obviously improved, and the Bitcoin ecosystem has become active again. Since June, the Gas on the Bitcoin chain has increased significantly. This means that the Bitcoin ecosystem will begin a "reshuffle", and it is visible to the naked eye that dogs and pizza are sweeping Bitcoin.

 

《Will Ethereum break through $5,000 in June? Institutional Demand and Market Expectations for Future Trends》

With the US approving the spot Ethereum ETF, the market is enthusiastic about Ethereum. Industry experts have predicted that the price of Ethereum will usher in a new round of increases. Institutional analysts such as Galaxy, FRNT Financial, CCData, OKX, and Consensys have expressed their views that the demand from institutional investors will drive the price of Ethereum up. However, they also warned of potential market challenges and volatility. This article brings together views from all sides to take you to explore the future prospects of this important market trend. Ethereum soared more than 30% to $3,800 in May after the US approved the ETF, and market observers now expect Ethereum to hit a new high of more than $5,000 in early June. As the dust settles, the market is speculating on Ethereum's next move.

 

《Self-harm, pornography, count Solana "live broadcast with meme" famous scenes》

Amid the Solana meme craze, a more abstract meme coin issuance model was born, that is, live broadcast coin issuance. @StarPlatinumSOL counted 7 famous scenes of meme releases during live broadcasts, and BlockBeats sorted them out as follows

 

《Understanding Binance Launchpool's latest project io.net: Connecting global GPU resources to reshape the future of machine learning》

On June 6, IO.NET, a decentralized AI computing and cloud platform, said it would issue IO tokens on June 11. It also announced the token economics, with a maximum supply of 800 million tokens, an initial total supply of 500 million tokens, an initial circulation of 95 million tokens (19% of the initial total supply of tokens), and a total Binance mining of 20 million tokens (4% of the initial total supply of tokens).

 

《BRC-20 and Rune, China and foreign countries do not accept each other? ｜Rune + NFT Observation 0605》

BRC-20 and Rune, China and foreign countries do not accept each other? It is very obvious that the BRC-20 $PIZZA airdrop organized by UniSat has been hotly discussed in the Chinese community. I think everyone should have a feeling of "Back to Old School" - Excel order books, double bets, a lot of WeChat group discussions and rapid price increases, dreaming back to last year's inscription bull market. And runes? It's not that there are no Chinese people playing, for example, JOKER•RUNES•COIN is a very obvious Chinese-driven rune project.

 

《June Crypto Market Outlook: The general election may be the main narrative in the near future, and Solana is expected to borrow from the ETH ETF to break a new high》

In the monthly content, after doing enough additions, this time I want to try the effect of subtraction. I will only talk about my thoughts on future market trends and some time nodes (catalysts) of specific events. It seems that only memecoin gamblers can make money in this cycle. $WIF is better, and the price fluctuations of $PEPE are actually quite large, and few people really eat the whole process. There are also some basic coins that perform well, but they are relatively few, just a few, such as $PENDLE. If you want to select the hot word of the year, PVP will definitely be one of them.

 

《Unveiling the top Bitcoin holders: Global wallet address analysis and holdings》

The largest Bitcoin holders are corporate entities, including some institutions and crypto CEXs. CEXs store a large number of users' crypto assets in cold wallets. Due to the characteristics of crypto transactions, these addresses are constantly changing. There are an estimated 106 million Bitcoin holders worldwide. Although 460 million addresses have been used for transactions, 288 million of them do not hold any Bitcoin.
《Solana and Ethereum "quarrelled", how should the community stand? 》

On June 3, Bankless released a video titled "ETHEREUM VS. SOLANA: Which Blockchain Wins 2024 Beyond?", inviting Solana founder Anatoly Yakovenko and Ethereum Foundation researcher Justin Drake to talk about their respective views on the Ethereum and Solana ecosystems. This nearly two-hour debate from the crypto community's super ecosystem has received a lot of attention in the overseas community.

 

"Arthur Hayes: Now is the best time to invest in Bitcoin and altcoins"

In this article, Hayes explores cryptocurrency investment strategies under the current macroeconomic situation. With the Bank of Canada and the European Central Bank cutting interest rates, the cryptocurrency market is about to recover from the summer downturn, heralding a new round of bull market. Hayes believes that Bitcoin and other cryptocurrencies have been a powerful weapon against the traditional financial system since 2009. In the current macro-environment, Hayes recommends actively going long on Bitcoin and altcoins, and supporting the issuance of tokens by new projects, because the market will usher in a strong rebound.

 

《Consensus Conference is cold, Meme is soaring, making money is the best consensus? 》

Since 2015, the Consensus Conference hosted by CoinDesk has become one of the most important annual gatherings in the global blockchain and cryptocurrency field. At that time, it was once a weather vane for technological innovation and a barometer of investment and regulatory trends. And often at this time of year, there will be reports on new ideas or topics released at the conference. It’s just that this year, no one seems to have reached a consensus at the consensus conference.

 

《Can you make money running Farcaster nodes? Understanding Ferrule’s “social re-staking” economy》

The popularity of Farcaster has pushed the community to pay further attention to the creator economy track. The day before yesterday, the ANAGRAM development team launched the Farcaster-based protocol Ferrule, a protocol designed to decentralize the Farcaster Hub and enhance security. Ferrule enables anyone to build their own Farcaster client, ensuring user autonomy and ownership. Ferrule aims to build a scalable and sustainable network through Eigenlayer AVS, solving the inconsistent incentives and centralization issues of client applications in Farcaster's current architecture by incentivizing node operators and implementing data sharding.