Crypto Updates

Cryptoquant Analyst: The cryptocurrency market is still in a bull market, and BTC may rise further in early June 📈📉 According to financial reports, Cryptoquant analyst CryptoDan wrote that the cryptocurrency market is still in a bull market and the price of Bitcoin has not yet reached its peak, predicting that it can rise further. In the past bull market, MVRV peaked at 4.83 and 3.97 respectively, and currently only reaches 2.78. It has not yet entered the overvaluation zone and is expected to rise further. Bitcoin has gone through more than two months of sideways and correction periods after entering an overheating phase in March 2024, and is likely to see further gains in early June.

A16z partner: Over the next 10 years, there may be several billion-dollar specialized funds focused on DeFi or Web3 social. A16z partner Chris Dixon, in an interview with CoinDesk, expressed his hopes for blockchain to become synonymous with internet innovation. Drawing a parallel to the 1990s internet era, Dixon envisions the emergence of several billion-dollar specialized funds focused on DeFi or blockchain social projects. Additionally, Dixon likened the current trend of interactive tokens to 'non-transferable tokens,' describing them as a product of the current regulatory environment. Furthermore, he expressed skepticism towards CBDCs, suggesting that private-sector solutions, such as USDC, will find high-quality technical solutions for stablecoins.

Huang Licheng ha acumulado compras de tokens FRIEND por valor de 15,35 millones de dólares desde el 3 de mayo, lo que ha resultado en una pérdida no realizada de 7,54 millones de dólares. Según el seguimiento del analista en cadena Yu Jin, el cofundador de Friend Tech, Racer, se está preparando para migrar Friend Tech de la cadena Base a otra cadena, lo que provocará una caída del 30% en el precio de FRIEND. Mientras tanto, el principal comprador de FRIEND desde su lanzamiento, Mahjong (Huang Licheng), se enfrenta actualmente a una pérdida no realizada de 7,95 millones de dólares (52%) en las tenencias de FRIEND. Mahjong ha estado comprando FRIEND continuamente desde el 3 de mayo, gastando 4.873 ETH ($15,35 millones) para comprar 8,048 millones de tokens FRIEND a un costo promedio de $1,9 por token. Sin embargo, el precio actual de FRIEND es de sólo 0,92 dólares.

Bitcoin has risen by 62% year-to-date, with its annual returns far surpassing those of stablecoins. According to HODL15Capital monitoring, the combined market value of major stablecoins USDT and USDC is close to $150 billion, with an annual 'return' of 5%. Meanwhile, Bitcoin has risen by 62% year-to-date.

friend. tech's co-founders hinted at the intention to migrate out of the protocol, suggesting instability in their team's relationship with Base. Racer, a co-founder of the friend. tech protocol, expressed intentions to migrate the protocol out of Base due to perceived instability in their relationship with the platform and feeling ostracized by the Base community. Jesse Pollak, head of Coinbase's Base, acknowledged these concerns, expressing sadness but also respecting any decision made by the team, highlighting the decentralized nature of such platforms.

Juno releases update on Synapse bankruptcy process: will work with trustee and provide support The encryption application Juno posted on the X platform that on May 24, 2024, the U.S. Federal Court held a hearing on the ongoing dispute between Evolve and Synapse. While the dispute remains unresolved, progress was made during the hearing. Jelena McWilliams, former chairwoman of the Federal Deposit Insurance Corporation (FDIC), has been appointed as Synapse’s Chapter 11 trustee.

Research: SRC20 protocol’s data durability makes it a better choice than BRC20 and Runes May 27 news: According to a study conducted by consulting firm Universelle, the SRC20 protocol is superior to other protocols running on the Bitcoin network because of its “unparalleled data durability.” The protocol’s upcoming cost-reducing upgrade makes SRC20 Become one of the options for long-term projects and investments.

Trump-themed Meme coin TRUMP breaks through $12 to reach new highs, with market value approaching $600 million According to financial reports, according to CoinGecko market data, the Trump-themed meme currency MAGA (TRUMP) exceeded US$12 and hit US$12.45, with a 24-hour increase of 21.9%, continuing to hit a new high. In addition, the market value of TRUMP is approaching US$600 million, reaching US$578,900,596 at the time of writing this article. The transaction volume in the past 24 hours reached US$19,710,591, and the current market token circulation is 46,502,515 coins.

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Former Chairman of the Hong Kong Computer Society: High costs lead to the withdrawal of license applications by international virtual asset service platforms. The transitional period for issuing licenses to Virtual Asset Service Providers (VASPs) in Hong Kong is ending soon, with the Securities and Futures Commission (SFC) to decide on the continued operation of existing providers after June. Several platforms have withdrawn license applications recently. According to Ken Shiu, former Chairman of the Hong Kong Computer Society, operating in Hong Kong comes with high costs, and existing platforms struggle with low trading volume and liquidity compared to overseas counterparts. Large international platforms may have withdrawn due to local market profitability concerns. 💲 @Crypto_Updts