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🚨 New Video Alert!! 🚨 What the hell is going on with the state of the markets? Why haven't we seen any movement in Bitcoin despite the ETF flows? Which layer 1s and layer 2s have potential and which are hot air? What do the onchain stats tell us about potential market tops? Well, most of these questions can be broken down by looking at a collection of 10 charts. These charts come to us courtesy of a Coinbase Half Year institutional report and what they reveal is quite surprising. In the video today, we break down these charts and explain what it could mean for the crypto market. Enjoy!

While there had been reports that the ETFs could go live as early as July 4th, this is now out of the question. Senior Bloomberg ETF analyst Eric Balchunas has revised his predicted timeline for spot Ether ETF approvals, stating that the process will likely resume on July 8th. Source

🔔 MARKET MOVING NEWS! (29/06/24) 1️⃣ SEC Sues Consensys Over MetaMask Staking, Broker Allegations ⚡️ The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against ConsenSys, alleging that its MetaMask wallet tool's staking features operated as broker services without the appropriate license. The SEC also claimed that MetaMask offered an unregistered securities program through its staking service via Lido and Rocket Pool. The SEC said MetaMask's Lido and Rocket Pool integrations amounted to "investment contracts," suggesting the agency views their popular stETH and rETH liquid staking tokens as unregistered securities. Source 2️⃣ Supreme Court Overturns 'Chevron Deference'—And That Might Be Good for Crypto ‼️ The U.S. Supreme Court ruled 6-3 on Friday to overturn the Chevron doctrine - a 40-year-old case that allowed federal regulators to enforce their interpretation of ambiguous laws. Experts state that, without the Chevron doctrine, the SEC will have a harder time pursuing an enforcement agenda in the absence of legal and regulatory clarity for the crypto industry. In his majority opinion on Friday, Chief Justice John Roberts called the Chevron doctrine “unworkable,” adding that it “allows agencies to change course even when Congress has given them no power to do so. By its sheer breadth, Chevron fosters unwarranted instability in the law, leaving those attempting to plan around agency action in an eternal fog of uncertainty.” Source 3️⃣ IRS Reveals Final Regulations For Crypto Broker Rules 🤔 The Internal Revenue Service (IRS) released the final version of its new crypto broker reporting requirements yesterday. The rule will apply to custodial brokers such as exchanges like Kraken and Coinbase. However, the IRS has delayed making a final determination on whether non-custodial platforms, such as decentralised exchanges (DEXs), will be classified as brokers. Crypto lobbyists expressed concerns that the rule could harm the crypto industry, but the IRS has acknowledged it needed “more time to consider the nuances” of issues involving non-custodial industry participants. Source 4️⃣ U.S. Judge Lets Most of SEC Case Against Binance Proceed, Dismisses Secondary Sales Charge ‼️ A federal judge has reportedly dismissed part of the U.S. Securities and Exchange Commission's (SEC) lawsuit against crypto exchange Binance and founder Changpeng Zhao. Specifically, the judge granted Binance and Zhao's motion to dismiss charges tied to secondary BNB sales and Simple Earn. However, the judge allowed other charges, including charges against the holding company for Binance.US to proceed. The judge ruled that the SEC's charges against Binance for the initial coin offering and ongoing sales for BNB, BNB Vault, staking services, failure to register and fraud charges can proceed. Source 5️⃣ Farcaster Is Getting In-App USDC Payments 💰 Decentralised social media protocol Farcaster has introduced a new in-app payments feature using USDC stablecoins. The feature allows users to make 1-tap payments from their profile or the app's messaging platform, eliminating the need to look up someone's wallet address. Founder Dan Romero confirmed the application will only use USDC on Base at launch. However, he stated that the open protocol allows for other currencies and chains to be integrated. The introduction of the in-app payments feature is part of Farcaster's efforts to make its client app, Warpcast, more user-friendly and competitive in the market. Source 6️⃣ SEC Returns S-1 Forms To Ethereum ETF Issuers, With At Least One More Round To Go: Source 🔍 According to a report by The Block, the U.S. Securities and Exchange Commission has returned the S-1 forms to prospective Ethereum ETF issuers with light comments. The issuers have been asked to address the comments and refile them by July 8. The report states that there will need to be at least one more round of filings before the ETFs can finally start trading.

New Trade for #DCR/USDT (Chart: 1 DAY TF) DCR/USDT Looks good on 1 DAY time frame moving along Strong demand zone price has taken reversal many times from this region. Also forming harmonic pattern. ◼️Entry: $15.38 - $14.32 🟢 Target 1 : 15.87 🟢 Target 2 : 16.34 🟢 Target 3 : 16.80 🟢 Target 4 : 18.19 🟢 Target 5 : 20.05 🛑SL : 13.70

#BTC UPDATE: BTC tried to break the 62k resistance level but rejected again form it for BTC the 62k level is still acting as a resistance level after the 62k resistance level the next resistance level will be the 63k level. If BTC breaks the 61k support level the next support level will be the 60k level. We need a daily closure at least above the 62k level to then target the higher levels in the coming days if the closure is below then it will no be a good sign. As the things are not cleared yet trade cautiously and must use sl.

🔔 MARKET MOVING NEWS! (28/06/24) 1️⃣ VanEck Files For Solana ETF In The US, Claiming SOL Is A Commodity ⚡️ Asset manager VanEck has reportedly filed an application to list a Solana spot exchange-traded fund (ETF) in the US. According to the filing, the VanEck Solana Trust would be listed on the Cboe BZX Exchange and would hold SOL directly, valuing its shares daily based on the reported MarketVector Solana Benchmark Rate. Notably, the US Securities and Exchange Commission (SEC) has previously classified SOL as a security in an enforcement action against Binance. However, VanEck argues that SOL should be considered a commodity because it functions similarly to Bitcoin and Ethereum. Source 2️⃣ T-Rex Group Files for 2x Long, Inverse Microstrategy ETF 🔍 According to a filing published on the Securities and Exchange Commission's EDGAR platform, ETF issuer T-Rex Group has filed for an ETF that will take a 2x long position in bitcoin-heavy Microstrategy. The ETF reportedly aims to achieve 200% of MicroStrategy's daily performance. T-Rex also filed for an ETF that would take a 2x inverted position in MSTR. Effectively, both listed products would be leveraged long or short on Bitcoin. Senior Bloomberg ETF analyst Eric Balchunas said if the fund were approved, it would expose investors to around 20 times the typical volatility of the S&P 500. Source 3️⃣ Coinbase Won't Handle AI Token Merger for Users ▶️ U.S. crypto exchange Coinbase has announced that it “will not execute” the upcoming migration of tokens for the Artificial Superintelligence Alliance (ASI). This means Coinbase users will need to figure out the ins and outs of this highly anticipated token merger for themselves. However, the crypto exchange provided a workaround, stating

For the ASI token migration, Coinbase will not migrate these tokens on behalf of users, but users will be able to migrate their own OCEAN and FET to ASI using Coinbase Prime Web3 wallet or another Ethereum-compatible self-custody wallet […] Coinbase does not currently support [SingularityNET token] AGIX on our platform, which is why this was not included.

Source 4️⃣ Vitalik Buterin Backs New Blockchain MegaETH As It Raises $20 Million At '9-Figure' Token Valuation 💰 MegaLabs, the developer of a new blockchain called MegaETH, has reportedly raised $20 million at a “9-figure” valuation in a seed funding round. The round was structured as equity plus token warrants. The funding round was led by Dragonfly and saw participation from other investors including Vitalik Buterin, Joseph Lubin, Figment Capital, Robot Ventures, Big Brain Holdings and Sreeram Kannan. MegaLabs was founded in early 2023 by Kong, a former global head of business development at Consensys, and Yilong Li, who holds a PhD in computer science from Stanford University and previously worked at software company Runtime Verification Inc. MegaETH aims to achieve 100,000 transactions per second (TPS) and dubs itself as the first "real-time blockchain" with full Ethereum compatibility. The public testnet for MegaETH will go live in early fall, with the mainnet expected to launch by the end of the year. Source 5️⃣ PolitiFi Memecoins Tank Amid Trump Vs Biden Presidential Debate 🔽 PolitiFi memecoins inspired by United States President Joe Biden and candidate Donald Trump tanked up to 53% as the pair battled it out during the first of two live presidential debates. The prices of the memecoins appear to have tanked since neither Trump nor Biden mentioned the cryptocurrency sector in their debate. This is despite a trio of super political action committees supporting the cryptocurrency industry raising over $200 million to influence the 2024 election. Source 6️⃣ Bolivia Lifts Ban On Bitcoin, Authorises Crypto Transactions Via Banks ‼️

Bolivia’s central bank, ‘Banco Central de Bolivia’, has reportedly lifted its ban on Bitcoin and crypto payments. The central bank said the move was made to help Bolivia elevate its struggling economy and align it with Latin American crypto regulations. The change in regulatory stance marks the end of a ban on crypto use in the country that began in 2014. While the central bank clarified that cryptocurrencies are not accepted as forms of legal tender, the recently approved regulations allow banks to transact in cryptocurrencies via approved electronic channels. Source

#BTC UPDATE: For BTC the 62k level is still acting as a resistance level after the 62k resistance level the next resistance level will be the 63k level. If BTC breaks the 61k support level the next support level will be the 60k level. We need a daily closure at least above the 62k level to then target the higher levels in the coming days if the closure is below then it will no be a good sign. As the things are not cleared yet trade cautiously and must use sl.