Daily Report | Nearly 41% of the top 10,000 ZK airdrop addresses have sold out; the trading volume of 6 Hong Kong virtual asset ETFs today is approximately HKD 17.1627 million; DOGE bulls faced a liquidation of USD 60 million, marking the largest loss since 2021
June 18 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Data: Nearly 41% of the top 10,000 ZK airdrop addresses have sold all their tokens
- Data: DOGE bulls face $60 million liquidation, the largest loss since 2021
- Idaho Republican Proposal: Implement Bitcoin policies and oppose the creation of CBDCs
- FTX bankruptcy victims seek court ruling that $8 billion in assets belong to customers, not bankruptcy estate
- Data: Six Hong Kong virtual asset ETFs have a trading volume of approximately HKD 17.1627 million today
- South Korean Financial Services Commission: Will not directly participate in token inspections and delisting processes
- Ixia Capital launches a $20 million gaming venture capital fund, focusing on high-growth projects in Web3 and crypto
- 10x Research: Large unlocks of altcoins are dragging down Bitcoin
"What important events happened in the past 24 hours"
Data: Nearly 41% of the top 10,000 ZK airdrop addresses have sold all their tokens
According to Cointelegraph, Nansen data shows that nearly 41% of the "top 10,000 addresses" that received ZK airdrops have sold all their airdrops, while 29.2% of the addresses have sold at least some tokens. The total sell-off from both groups exceeds 486 million ZK.
Data: DOGE bulls face $60 million liquidation, the largest loss since 2021
According to CoinDesk, Dogecoin (DOGE) has experienced the largest liquidation wave since 2021 amid recent market fluctuations, resulting in a liquidation amount of up to $60 million for long positions. Coinanlyze data shows that nearly all DOGE liquidation activity in the past 24 hours came from long positions, with only about $600,000 in short positions being liquidated.
Idaho Republican Proposal: Implement Bitcoin policies and oppose the creation of CBDCs
According to BitcoinMagazine, the Idaho Republican Party has issued a proposal to implement Bitcoin policies and oppose the creation of CBDCs, stating: "We oppose the creation of central bank digital currencies and oppose the regulation or excessive taxation of decentralized digital currencies like Bitcoin. We declare that individuals have the right to use cash, precious metals, and decentralized digital currencies for commerce and exchange."
According to documents submitted to the U.S. District Court for the Southern District of New York on Friday, FTX bankruptcy victims are seeking a ruling that the seized assets (approximately $8 billion) of the collapsed cryptocurrency exchange belong to its customers, not the bankruptcy estate. Last month, the FTX bankruptcy administration proposed a new reorganization plan that would allow 98% of creditors to recover 118% of their claims in cash within 60 days after court approval. However, this plan has led many FTX customers to believe they missed the opportunity to profit from the rise in cryptocurrency prices.
Hong Kong stock market data shows that as of the close, the trading volume of six Hong Kong virtual asset ETFs today was approximately HKD 17.1627 million, including: Huaxia Bitcoin ETF (3042.HK) with a trading volume of HKD 4.48 million; Huaxia Ethereum ETF (3046.HK) with a trading volume of HKD 3.02 million; Harvest Bitcoin ETF (3439.HK) with a trading volume of HKD 6.41 million; Harvest Ethereum ETF (3179.HK) with a trading volume of HKD 1.4 million; Bosera HashKey Bitcoin ETF (3008.HK) with a trading volume of HKD 1.31 million; and Bosera HashKey Ethereum ETF (3009.HK) with a trading volume of HKD 542,700.
According to local media EBN, the South Korean Financial Services Commission (FSC) announced that it will not directly participate in the inspection of cryptocurrencies listed on South Korean exchanges. There were rumors that South Korean financial regulators planned to delist non-compliant crypto assets by July this year. The FSC stated that it only inspects cryptocurrency operators and does not directly inspect tokens. The final announcements regarding token inspections and delistings will be handled by the respective cryptocurrency exchanges and the Digital Asset Exchange Alliance (DAXA), a consulting body for South Korean digital asset exchanges.
According to Gambling Insider, Ixia Capital has launched a $20 million global gaming venture capital fund aimed at nurturing high-growth projects in gaming, esports, Web3, and crypto. The fund plans to support 25 startups over five years, providing not only funding but also strategic guidance and operational support. It is reported that Ixia Studio is currently launching six projects, including a sports NFT trading platform, a gaming loyalty rewards platform, a sports investment thought leadership platform, and applications for sports reporting and gaming participation.
10x Research: Large unlocks of altcoins are dragging down Bitcoin
0x Research stated in a report that cryptocurrencies, especially altcoins, have significantly declined. The market is struggling to digest the massive token unlocks of Aptos ($97 million), IMX ($51 million), STRK ($7.5 million), SEI ($6.2 million), ARB ($90 million), APE ($18 million), and UNI ($90 million), totaling $483 million. Early investors and venture capitalists seem to be under pressure to cash out, and these token funds are dragging down Bitcoin. Bitcoin miners have begun selling their Bitcoin inventories, and the ETH balance on exchanges has increased significantly by $2.5 billion, which is related to potential selling pressure. Despite improvements in inflation data, Bitcoin ETFs have seen significant outflows (averaging $660 million over five days), as the overall net outflow across various sectors (stablecoins, futures leverage, ETFs, etc.) reached $2.4 billion, marking the third week of net outflow since the ETF launch in January 2024. With SOL-USDT breaking below key trend levels and support lines, SOL may face more downward pressure, with some analysts suggesting it could drop to $100.
Insider: People associated with Trump have been planning to launch a digital currency for two months
According to FOX Business, it is unclear whether the meme token DJT on Solana has a direct or indirect connection to Trump, but industry insiders say that people associated with the former president have been planning to launch a digital currency for at least two months.
According to The Block, investment bank TD Cowen stated that President Biden's nomination of two U.S. Commodity Futures Trading Commission (CFTC) officials may affect the agency's future handling of cryptocurrencies. Last week, Biden nominated CFTC Commissioner Christy Goldsmith Romero to head the Federal Deposit Insurance Corporation (FDIC) and nominated Kristin Johnson to be the Assistant Secretary of the Treasury for Financial Institutions. Both commissioners have pushed the agency to establish rules or guidelines to protect consumers and address conflicts of interest in cryptocurrencies. If Romero and Johnson successfully take on their new roles, the CFTC will be left with Democratic Chairman Rostin Behnam and Republican commissioners Caroline Pham and Summer Mersinger, with Republicans holding a majority. TD Cowen stated in a report on Monday that given this change, the Biden administration will quickly fill these two vacancies. However, alternative candidates may not be confirmed until the fall.
"What are some interesting articles worth reading in the past 24 hours"
Is crypto over? Is the crypto market in a 618? What are the main issues with this round of market?
"Is crypto over? Did you make money in this bull market?" Before discussing this round of market, let's review the patterns of the last bull market and the A-share bull market.
Vague correctness far exceeds precise errors, here comes the crypto market top escape guide
Those who can buy are just apprentices; those who can sell are masters, encapsulating the mysteries of the market. Imagine when the asset you bought initially brings profits, then continuously soars, resulting in huge unrealized gains, and you are filled with joy, believing it will reach your psychological price point, thinking the upcoming frenzy is imminent.
However, the market suddenly halts. At this point, you think it's just a market consolidation. Soon after, it plummets again, and you suffer significant profit losses.
Selling feels too reluctant, fearing you might miss out. Not selling means holding on, and eventually, the harsh lessons of the market arrive, as prices begin to fall below your cost. You think it has hit bottom, but it drops another 30%. You choose to buy the dip again, only to see it fall another 20%. At this point, you are severely trapped with no bullets left, and just when you painfully decide to cut losses, it turns out to be the market's bottom, and the market begins to slowly rise.
Failing to take profits leads to significant retracement of profits, even ending up with losses. Every newcomer to the market must experience this, and even some veterans cannot escape the spell of market emotions.
This article will focus on interpreting indicators for escaping the market top, hoping readers can better grasp the timing for selling during major market movements.
No more opportunities on Farcaster?
Over the weekend, an article from Fortune magazine stated that Farcaster would launch a token like most protocols, causing the daily active user data of Farcaster, which had been in a downward trend for nearly half a month, to rebound again. On May 22, Farcaster completed a $150 million financing led by Paradigm at a valuation of nearly $1 billion, which once again drew attention to Farcaster and its largest front-end application, Warpcast, which had garnered market enthusiasm earlier this year, achieving a historical high in daily active users the day after the financing announcement.
A look back at the wealth history of Bitcoin billionaires, revealing the new wealth code
Many early investors in Bitcoin have now become billionaires, joining the ranks of the world's wealthiest individuals. However, compared to the immense wealth that Satoshi Nakamoto may possess, their assets may seem insignificant.
The rapid rise of Bitcoin and the entire cryptocurrency industry has created several early investors who have thus become billionaires.
After Bitcoin prices soared at the end of 2020, the Winklevoss twins rejoined the ranks of Bitcoin billionaires.
However, the wealth of Bitcoin's founder, Satoshi Nakamoto, is even more astonishing, estimated to be as high as $40 billion, making it unattainable.
Since Bitcoin led the cryptocurrency revolution in 2009, the development momentum in this field has been rapid. Although some early users once used Bitcoin to buy pizza, cryptocurrencies have largely become synonymous with wealth.
The first theft case of Bitcoin: An OG in crypto lost 25,000 Bitcoins due to key leakage
Allinvain mined Bitcoin when its price was below $0.05, holding 25,000 Bitcoins. This article takes you through the largest robbery in cryptocurrency history: the tragic story of Allinvain losing $1.6 billion.
In 2010, Allinvain founded one of the first Bitcoin exchanges, Bitcoin Express. Bitcoin Express allowed users to purchase BTC using PayPal. Allinvain sold 1,000 BTC for $5, which means each BTC was $0.005.
