And crypto keeps plummeting… The market has been causing off-again-on-again FUD as of late. Prices keep on declining, causing investors to feel uneasy as they cling to their bags, praying for the plummet to cease. Memecoins are facing a similar fate, probably due to a surge in the launch of new meme tokens (thanks to Pump.fun). Meanwhile, former President Donald Trump has attempted to position himself as the crypto market's biggest cheerleader. He's being quite vocal about his support for crypto. Sadly, his support doesn't seem to be having the same impact as it did earlier this year when crypto was thriving. Anyway, let's discuss this in detail and all the other big stories that happened in crypto in the past 24 hours. Here is a quick rundown of the top headlines: |
- Australia approves its first spot Bitcoin ETF. But can it help Bitcoin pump?
- Lil Pump flexes his Solana tattoo on his forehead. "Gucci gang" memecoin incoming?
- SOL keeps sinking as ETH soars with ETH ETF approval. Are institutions interested in launching SOL ETFs?
- Europe's telecom giant goes for Bitcoin mining. What other crypto projects are they working on?
- Notcoin is riding high, as TON hits an all-time high. What's pushing TON's price up when the entire market is declining?
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Let's dive in after the market overview! |
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| | GLOBAL MARKET CAP | | $2.39T | | ▼1.52% (24h) | | | 24H MARKET VOLUME | | $57.71B | | ▲37.71% (24h) | | |
| | BITCOIN'S DOMINANCE | | 54.26% | | ▲0.18% (24h) | | | FEAR & GREED INDEX | | 55 | | Neutral | | |
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 | Bitcoin | | | $65,840.89 | | ▼1.18% (24h) | |
|  | Ethereum | | | $3,516.99 | | ▼1.33% (24h) | |
|  | BNB | | | $596.25 | | ▼1.77% (24h) | |
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Data as of: 17 Jun 2024 11:00 UTC |
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Australia approves its first spot Bitcoin ETF |
Australia's largest stock exchange, ASX, has greenlit its first spot Bitcoin ETF, named the VanEck Bitcoin ETF (VBTC), set to begin trading on June 20. Why is this significant? VanEck's recent success in the U.S. with a similar product highlights the rising demand for Bitcoin exposure in regulated markets. VanEck's CEO for the Asia-Pacific, Arian Neiron, emphasizes that VBTC simplifies Bitcoin investment by handling all the technical complexities. This approval is a milestone for ASX, but it's not Australia's first Bitcoin ETF. Curious about the previous Bitcoin ETFs and their impact on the market? Click to read more. |
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| Lil Pump flexes his Solana tattoo on his forehead |
American rapper Lil Pump recently revealed a new tattoo dedicated to the blockchain platform Solana on Instagram, playfully noting that he had already sold his Solana (SOL) tokens. His post quickly garnered mixed reactions from fans, some criticizing the tattoo and questioning its authenticity. This revelation comes amid a broader trend of celebrity-backed crypto projects facing significant downturns, with tokens endorsed by stars like Caitlyn Jenner and Floyd Mayweather plummeting in value. Despite these setbacks, the launch of new celebrity tokens continues. Curious about how these celebrity crypto ventures are faring? Click to read more. |
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Monday, 17 Jun on 3PM UTC |
| Join CMC's Research Lead, Alice, as she shares crucial insights for the upcoming week ahead. |
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SOL keeps sinking as ETH soars with ETH ETF approval |
Solana's native token, SOL, has seen a steep 7.22% decline over the past week, hitting $150.33 on June 17. This drop is notably sharper than the broader cryptocurrency market's 1.5% decrease. Key reasons for SOL's underperformance include rising competition from Ethereum (ETH) and stagnant inflows into the Solana ecosystem. Ethereum's increasing dominance, especially with potential regulatory approval for spot Ether ETFs in the U.S., is drawing investor interest away from Solana. What's causing investors to shift their focus? Discover the factors influencing SOL's recent price drop and the shifting market dynamics. Click to read more. |
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Europe's telecom giant goes for Bitcoin mining |
Deutsche Telekom, Europe's largest telecommunications provider, is stepping into the Bitcoin mining arena. This was revealed by Dirk Röder, head of Web3 infrastructure at T-Systems MMS, during the BTC Prague conference. Röder, wearing a shirt with a pink Bitcoin graphic, hinted at a venture called "digital monetary photosynthesis." This intriguing announcement led Bitcoin influencer Joe Nakamoto to ask if T-Mobile is mining Bitcoin, to which Röder confirmed, "We will." Why is Deutsche Telekom expanding into Bitcoin mining and blockchain? Find out how this move fits into their broader blockchain strategy. Click to read more. |
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Stay Alerted to Crypto Trends with Watchlist Syncing |
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| Keep your Watchlist synchronized with the latest cryptocurrency market trends. CoinMarketCap ensures seamless updates, helping you stay connected to the market's dynamics without constant manual checking. |
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Notcoin is riding high, as TON hits an all-time high |
Notcoin (NOT) surged over 15% on Friday, breaking past $0.20, but has since dipped by 4.49% in the past 24 hours. Despite this, it's still up 4.73% for the week amidst a broader market downturn. Notcoin, a token on the TON blockchain, was airdropped to users of a popular Telegram-based "tap to earn" game, which even garnered praise from Telegram CEO Pavel Durov. The rise of Notcoin aligns with a broader rally in the TON ecosystem, highlighted by TON surpassing $8.00 for the first time. Why is the TON blockchain seeing such growth? Discover how these "x to earn" games are driving massive user engagement. Click to read more. |
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| And that's a wrap. We will be back with more updates next week! |
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