***Summary of the cryptocurrency market situation: Bitcoin is dormant! Weekend trading volume fell to its lowest point
Cryptocurrency research company Kaiku It was revealed: The proportion of Bitcoin trading during weekends (Saturday and Sunday) fell to this year's lowest level of 16%, and the decline comes after the launch of the Spot Bitcoin ETF, which offers trading on a traditional stock market schedule. This means that there is no trading on weekends, so institutional investors trade spot bitcoin ETFs during regular business hours. As a result, the price of Bitcoin will be less volatile.
Which will be different from the past. Bitcoin trading on weekends was very active, earning the nickname Wild Weekends, but this phenomenon is becoming less common. Bitcoin trading volume continued to decline on weekends. From a peak of 28% in 2019, this became even more evident with the arrival of the Spot Bitcoin ETF earlier this year.
The Fear and Greed Cryptocurrency Index today (June 30) received a score of 47 or Neutral from yesterday's fear score of 30.
In the last 24 hours, the cryptocurrency market cap is $2.26 trillion (-0.90%) and the trading volume is $56.6 billion (-13.24%). Bitcoin’s market cap alone accounts for 53.34%.
***Interesting news summary: The Securities and Exchange Commission is suing ConsenSys for being an unregistered broker.
1.US Securities and Exchange Commission Sues ConsenSys The Securities and Exchange Commission filed a lawsuit against Consensys, the company behind the MetaMask wallet, in federal court in Brooklyn, New York, on Friday, alleging that the company “engages in the offering and sale of securities” and “operates as an unregistered broker-dealer” through MetaMask.
2.Coinbase offers a list of futures contracts. : Coinbase Derivatives has filed multiple credentials with the US Commodity Futures Trading Commission (CFTC) to register SHIB, LINK, AVAX, XLM and DOT futures contracts in the US.
3.The US Securities and Exchange Commission considers Lido and Rocket Pool as securities : Lido and Rocket Pool Staking programs are offered and sold as investment contracts. Therefore, they are classified as securities according to the law. Investors invest ETH in joint projects. With a reasonable expectation of profit from management efforts;
4.Igloo acquires Frame : Igloo Inc., the parent company of the NFT project Pudgy Penguins, has acquired the Frame platform to develop a second-layer network for culture and society on the Abstract Chain blockchain.
5.Bitcoin may drop to $50,000 : QCP expects Bitcoin to drop to $50,000 due to selling pressure from Mt.Gox and government agencies. He believes the alarming supply figures may be exaggerated. The market will move within a narrow range
6.Binance Warns of Telegram ScamsBinance warns users of increased scams on Telegram, particularly cases of cybercriminals posing as Binance employees to commit fraud.
7.Crypto companies return to Hong Kong : Many digital asset related companies have returned to Hong Kong. From where they once moved to Singapore, this shows increasing confidence in the future development of the virtual asset market in Hong Kong.
8.Court dismisses some lawsuits filed by Binance:Court dismisses SEC charges against Binance and CZ over secondary market sales of BNB and Simple Earn, but other allegations remain
9.Money flowing into Bitcoin ETFsAs of June 28, total inflows into U.S. spot bitcoin ETFs reached $73 million, led by BlackRock ETF IBIT with the largest inflows of $82.42 million and ARKB's Ark Invest with $43 million.
10.The SEC returns Form S-1The SEC has returned the S-1 form to potential Ethereum ETF issuers with little comment. Issuers must then act on that comment and return it by July 8. That means there will be at least one more round of filings before the ETF can finally begin trading.
11.List of Unlocked Codes for July : In July, over $730 million worth of tokens will be unlocked, including DYDX, SUI, IO, The big one on July 24, with $18 million open daily for 730 days.
12. Vitalik Buterin: Demands of the founder of EthereumReforming the regulatory system for cryptocurrencies. Because the current governance creates incentives for useless projects. Avoid providing clear information to investors. To escape being classified as securities, on the other hand, service providers try to explain how the revenues work and instead group clear user rights as “securities”.
-Airdrop Blast : Now open to claim BLAST tokens, ready to launch Blur Season 4, giving away 500 million BLAST tokens over 12 months.
-ZK Nation : Open to eligible users to claim Airdrop ZK tokens in the second phase, which represents 1.91% of the total supply. It will end on January 3, 2025. In addition, ZKsync has introduced a new structure for the “Elastic Chain”.
-Worldcoin : Worldcoin is partnering with Alchemy to launch World Chain, a new layer 2 blockchain that will serve as a platform for World ID and World App.
-Wormhole : Wormhole will integrate World ID with Solana, allowing verified World ID users on Ethereum to be verified directly on Solana.
– Bloated financingA project using Ethereum’s restaking protocol has announced a partnership with the Ethereum Foundation to develop Base Rollups, a technology that reduces the workload on layer-1 blockchains.
-Evo : Tokenomics update cancels trading rewards program. It will retain its staking rewards and buy back at least 1 million AEVO tokens per month from July to December.
-Petgate Bitget and Foresight Ventures launch $20M fund to support early-stage projects built on the Token Open Network (TON), and Bitget launches Tap2Earn wallet.
– Aptos Foundation: Partners with Alibaba Cloud to promote Web3 ecosystem in Japan, focusing on building developer community.
-Notcoin: $3M worth of NOT tokens burned, $4.2M worth of NOT tokens will be given as rewards to Notcoin Explore Gold and Platinum users.
-Superbroadcast:The Supercast founder confirmed that there are no airdrops for Farcaster Hub operators and criticized those who use the Hub only to receive airdrops, explaining that such behavior disrupts the network and negatively affects other users.