What happened in crypto in the past week? Everyone is talking about ETH ETFs while BTC is slowly positioning in the best place to take up. Kucoin seems to be slightly better than Binance, at least in my country. Political memecoins are the buzzword lately. What else? Read below:
- Bitcoin: Incredible milestone for the BTC ETFs, as they are holding now over 1M BTC. Then the Mt Gox exchange initiated a 9B worth of BTC transfer series, causing a price dip. BlackRock is loading up on shares of its own Bitcoin ETF, with over 19 Billion worth of BTC under its belt. Can you feel the freedom dream dying slowly? Bitcoin futures are getting hot, with BTC getting close to $70K. But this may not happen unless some macro catalysts will help to break the cycle. Semler Scientific, a leader in medical tech, adopted BTC as the primary treasury reserve asset.
- Ethereum: As the ETH ETF is getting here, Ethereum is ready for an epic bull run. We had BlackRock filing for a spot ETH ETF with the SEC, to start with it. The Singapore banking giant DBS may have 173K ETH stashed away for rainy days. And then we had it, the first leveraged ETH ETF launched in the US - the Volatility Shares 2x Ether (ETHU). A bit jealous maybe, JPMorgan predicted lower demand for spot ETH ETFs. Now think about these numbers, if you invested 1000 ETH one year ago, your value would have gone from $1.2M to $3.66M, but if you had also staked it, you would have 3.87M, a nice $217K extra.
- Altcoins and stablecoins: LINK went up 10% after the news about ETF ETF approval spread out. Why, I have no idea. Another lucky trader made a $2.7M profit in just 3 days with the Trump-themed MAGA token. Solana validators may keep 100% of the priority fees if that governance vote is approved. Paypal expanded its PYUSD stablecoin to the Solana Blockchain. We also have the Biden-themed memecoin, called BODEN, with a 6.4% boost. PEPE is leading the pack, with a 230% increase in daily active addresses. Stablecoin market cap hits $161B, highest level since April 2022.
- NFTs and blockchain games: I did find some funny game called Chain of Legends and if you go here to do their quest, you get 1 free land, 1 free barracks and 2-3 troups too for a better start. What a number! On Splinterlands, the fourth round of Conflicts airdrop finished, with the second Legendary summoner, and the new reward system seems to be alright, as you get Glint tokens for every match you win and double of it at the end of the season. You can use Glint tokens to buy specific cards, Merits, potions and even 3 different titles. You may also want to check Holozing - a soon-to-be-launched Pokemon-like game on the Hive blockchain.
- Good news: Kucoin has a brilliant referral program, if you are good at this kind of activity. The crypto stash Donald Trump owns is now above the $10M mark. Mastercard is rolling out a new crypto credential service aimed at making transactions smoother in Europe and Latin America. Argentina is talking to El Salvador about crypto-adoption. Gemini Earn program users received 97% of their digital assets.
- Bad news: Memecoin devs connected with CAT seem to be behind the GCR account hack. Or even worse, they may just buy the accounts from the owners, as the coins are dead, more or less. Iggy Azalea's MOTHER token is looking dodgy, with one insider offloading 10% of the total supply on day one. We are talking about $3.4M profit being made by those insiders. Crypto fraud and hacks losses are down to $52M in May, a 12% decrease from the $59M in April.
- Joke of the week: The United States of America in general, and the SEC in particular, both tried to kill crypto, but the unintended consequences are always fun, and now 44% of the US voters are ready to buy crypto. Declaring war on crypto just brought them to everybody's attention, and people started to learn about it.
All the best,
George
Why not...
...have fun and win rewards on my favourite blockchain games (Splinterlands- Hearthstone-like card game) (Mobox - GamiFI NFT platform) (Upland - real-life virtual land) (Holozing - Pokemon-like game)and (Rising Star - Music creators game).
...Get ETH while writing on the Publish0x blog, using the Presearch search engine to maximize your income with PRE tokens. Use Torum instead of Twitter. I am also writing for crypto on Read.cash and Hive.
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