💥 Cryptocurrency price dynamics 06.06.2022💥

All crypto-assets in the top 10 by market capitalization are in the green zone today:
⬆️ Cardano: +9.4% showed the biggest increase overnight.

🟢 BTC - $ 31 182,60 (+4.6%)
🟢 ETH - $ 1 872,25 (+4.2%)
🟢 BNB - $ 306.21 (+2.6%)
🟢 ADA - $ 0.619141 (+9.4%)
🟢 XRP - $ 0.401575 (+2.3%)
🟢 SOL - $ 41.55 (+7.6%)
🟢 DOGE - $ 0.083103 (+1.8%)
🟢 DOT - $ 9.71 (+3.6%)
🟢 TRX - $ 0.083006 (+3.8%)
🟢 AVAX - $ 26.46 (+8.7%)

Bitcoin

Another upward momentum and a breakout of the resistance level around $31 000 can be seen. However, it is too early to talk about consolidation, and in the near future, the price of the asset may fall below $31 000. Judging by the market dynamics, bitcoin has already started to form a global bottom. However, this process may take longer than a month. In addition, there is still a probability of a decrease to $25-26 000 in case of global negative factors.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.

https://getblock.net/en/market-analysis/btc-review-dated-06062022

#BTC #Analytics

☝Vitalik Buterin opposed the moratorium on mining in New York

⛏Ethereum co-founder Vitalik Buterin has criticized a bill approved by the New York State Senate to impose a moratorium on fossil fuel-based cryptocurrency mining. According to Buterin, instead of bans, the authorities should have imposed carbon emission fees.

https://getblock.net/en/news/vitalik-buterin-opposed-the-moratorium-on-mining-in-new-york

📈Ex-Ripple employee allowed the possibility of XRP rate to rise to $100

💰Matt Hamilton, former Ripple’s Director of Developer Relations, said that the price of the XRP token could rise to $100. He expressed his view in a comment under a tweet of one of the members of the crypto community, who stated that XRP is a worthless entry in a centralized database and the asset has no chance of reaching a $5 trillion capitalization.

https://getblock.net/en/news/ex-ripple-employee-allowed-the-possibility-of-xrp-rate-to-rise-to-100

⛓Russia developed solution to automate DFA operations

💡Tinkoff Business and Lighthouse, a fintech company, have developed a platform to automate digital financial assets (DFAs) transactions, which will be able to operate on the basis of nominal accounts. Data will be exchanged between the Lighthouse platform and the bank using the Tinkoff API protocols. According to the companies’ representatives, nominal accounts will eliminate the possibility of the issuance of DFAs without actual cash payment and will make transactions transparent not only for market participants but also for the Bank of Russia.

https://getblock.net/en/news/russia-developed-solution-to-automate-dfa-operations

💪Octagon Networks fully converted its balance sheet into bitcoins

🏁Octagon Networks, a research company, has announced that it has completed the process of converting its liquid assets and entire balance sheet into bitcoins. The company will also begin to provide a 50% discount when paying for services with the first cryptocurrency. Octagon Networks was inspired by the example of the business intelligence software company MicroStrategy, as the first quarter of 2022, it has 129 218 BTC ($4,06 billion at the Binance exchange rate on June 6) in reserves. This was announced by Paulos Yibelo, who also announced that he was stepping down as head of the company.

https://getblock.net/en/news/octagon-networks-fully-converted-its-balance-sheet-into-bitcoins

⚠️Yuga Labs confirmed attack on its Discord servers

👾On June 4, Discord servers of the NFT project Bored Ape Yacht Club (BAYC) and the Otherside metaverse were subjected to phishing attacks, as a result of which attackers managed to steal 200 ETH worth of digital assets (around $360 000 at the time of the attack). The BAYC team later reported on Twitter that the problem had been detected and fixed. The project’s representatives confirmed the exploit and said that they will continue to investigate.

https://getblock.net/en/news/yuga-labs-confirmed-attack-on-its-discord-servers

💥 Cryptocurrency price dynamics 07.06.2022💥

All crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬇️ Avalanche showed the biggest drop overnight: -10.1%.

🔴 BTC - $ 29,513.22 (-5.3%)
🔴 ETH - $ 1,756.16 (-6.2%)
🔴 BNB - $ 298.87 (-2.8%)
🔴 ADA - $ 0.585959 (-5.4%)
🔴 XRP - $ 0.391509 (-2.6%)
🔴 SOL - $ 39.18 (-5.8%)
🔴 DOGE - $ 0.079343 (-3.9%)
🔴 DOT - $ 9.11 (-6.2%)
🔴 TRX - $ 0.080161 (-3.5%)
🔴 AVAX - $ 23.82 (-10.1%)

💰Total value locked in Ethereum 2.0 contracts exceeded $23 million

📊According to analytics service Glassnode, the total amount of TVL in Ethereum 2.0 smart contracts reached 12 351 ETH ($23,33 million at the Binance exchange rate as of June 6). In the last 30 days alone, 19 800 new validators have joined the network. The total amount of ETH in staking is 10,73% of the circulating token supply.

https://getblock.net/en/news/total-value-locked-in-ethereum-20-contracts-exceeded-23-million

Bitcoin

Bitcoin price collapsed following the rate of BNB, which reacted with a decline to the information that the US Securities and Exchange Commission (SEC) has launched an investigation into the altcoin. The local uptrend, which has been forming for almost a month and provides support, restrains bitcoin from further decline. In case the trend is broken, bitcoin rate will fall to $28 000.

If another negative trend appears in the market, it will help to determine if bitcoin has already reached the bottom of the correction and started to form the basis for growth in the future.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only

https://getblock.net/en/market-analysis/btc-review-dated-07062022

#BTC #Analytics

📈When bitcoin will rise to $100 000. Bloomberg analyst’s prediction

🤔Bloomberg Intelligence senior commodities analyst Mike McGlone in an interview for Kitco News compared the current economic situation in the world to the aftermath of the Great Depression of 1929. The expert believes that the market is now experiencing its worst inflation in 40 years and that once the crisis is over, bitcoin may become one of the most valuable assets on the planet.

https://getblock.net/en/news/when-bitcoin-will-rise-to-100-000-bloomberg-analysts-prediction/

💵Binance invested in PancakeSwap

📢Representatives of Binance Labs Fund, the venture capital arm of cryptocurrency exchange Binance, announced an investment in the governance token of decentralized exchange PancakeSwap (CAKE). The division representatives noted that PancakeSwap is the largest decentralized application (dApp) on the BNB Chain network, with more than 400 000 daily users. The price of the CAKE token rose by 9,67% in a day, trading at $4,37 as of June 7, 09:50 UTC.

https://getblock.net/en/news/binance-invested-in-pancakeswap

📉Renowned analyst warned of Ethereum price decline

🗣Renowned trader and analyst Peter Brandt said that the Ethereum price chart demonstrates the possibility of entering the market to make promising measured risk short trades. He published a chart on Twitter, according to which the ETH price movement forms a descending triangle, a trend continuation pattern indicating the possibility of a further decline in the asset’s price. In this, the analyst stressed that he himself is “not ready to dive head first into your crazy NFT” and added that transaction costs on the Ethereum network are very high.

https://getblock.net/en/news/renowned-analyst-warned-of-ethereum-price-decline

💰Miners transferred $6,3 billion in bitcoins to exchanges in a month

⛏In May, miners transferred 195 663 BTC to cryptocurrency exchanges, which is the biggest monthly flow since January 2022, according to Coin Metrics. Based on the average bitcoin price in May ($32 000), the total value of assets transferred to the platforms was around $6,3 billion.

https://getblock.net/en/news/miners-transferred-63-billion-in-bitcoins-to-exchanges-in-a-month/

💸Biggest Ethereum holders started to buy the WOO Network exchange token

📊The top 100 Ethereum whales have started actively buying the utility token of the WOO Network, a decentralized exchange. During the 24 hours from June 5 to 6, the asset broke into third place in terms of the number of purchases, behind only centralized USDC and USDT stablecoins, according to WhaleStats, a blockchain explorer. As of June 6, 15:00 UTC, it is trading at $0,16, according to Binance. Aavegotchi (GHST), Synthetix (SNX), and Aave (AAVE) were also on the investors’ top.

https://getblock.net/en/news/biggest-ethereum-holders-started-to-buy-the-woo-network-exchange-token/

📊Accenture: 52% of wealthy Asian investors own cryptocurrencies

💰Analytics firm Accenture has published a report with data on the share of large Asian investors holding cryptocurrencies in their portfolios. Thus, 52% of investors owned digital assets in the first quarter of 2022. Analysts predict an increase in their number to 73% by the end of the year. More than 3 200 investors with $100 000 to $1 million in capital from China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, and Thailand took part in the survey.

https://getblock.net/en/news/accenture-52-of-wealthy-asian-investors-own-cryptocurrencies/

⚡SEC launched investigation into the BNB token

🔍The US Securities and Exchange Commission (SEC) has launched an investigation into cryptocurrency exchange Binance and its native token BNB. The regulator intends to find out whether the platform violated the rules for the sale of securities in the 2017 initial public offering of BNB, Bloomberg reports, citing its own sources.

https://getblock.net/en/news/sec-launched-investigation-into-the-bnb-token

🇺🇸US senators introduced bill on crypto regulation. What should the market prepare for

✍️US Senators Cynthia Lummis and Kirsten Gillibrand have published a new bill aimed at totally incorporating cryptocurrencies into the US financial system. It will be submitted for further discussion by lawmakers on June 7.

https://getblock.net/en/news/us-senators-introduced-bill-on-crypto-regulation-what-should-the-market-prepare-for/

❗️Community accused Terra of cheating in LUNA 2.0 distribution

😱Terraform Labs (TFL) CEO Do Kwon is accused of cheating in the distribution of LUNA 2.0 tokens. A Twitter user under the nickname FatMan claimed that TFL has 42 million tokens worth about $200 million in shadow wallets. In this, he referred to Terra’s May 25 announcement that the organization’s wallets would be removed from airdrops at the launch of the new blockchain. According to the network’s representatives, this decision was meant to make the new blockchain “a fully community-owned chain.”

https://getblock.net/en/news/community-accused-terra-of-cheating-in-luna-20-distribution

👾Hackers hacked into the Elrond network and stole $1,65 million

💻Hackers hacked into the Elrond Layer 1 (L1) network and stole over $1,65 million worth of the project’s native tokens EGLD. The attackers sold some of the stolen assets on the decentralized exchange Maiar, causing the EGLD rate to plummet by 91,5% from $75 to $6,4 on this platform, a Twitter user under the nickname foudres.eth reported. As a result, Maiar suspended operations of the platform and its related APIs. Its representatives reported that customers’ funds are safe and rewards will continue to be paid.

https://getblock.net/en/news/hackers-hacked-into-the-elrond-network-and-stole-165-million/