And crypto keeps falling... Is this the end of the bull run? Or just a hiccup? The crypto market's been on a wild ride lately, and not the fun kind. More like the "please, make it stop" kind. Let's break down what's really going on. Multiple factors have conspired to push crypto prices into a nosedive this week. It's like a perfect storm of red candles. The trigger? German authorities decided to move 50K BTCs. That was enough to make Bitcoin break below 66K. And like dominoes, the rest followed. Cascading liquidations, whales suddenly getting stage fright – it all added fuel to the fire. But wait, there's more! (Isn't there always in crypto?) Rest of the analysis here: |
So, let's discuss this event in detail and all other big stories that happened in crypto in the past 24 hours. Here is a quick rundown of the top headlines: TLDR: |
- Nvidia's stock is down, but AI crypto tokens are up. But what's making these AI tokens resilient to broader market sentiment? 🤖
- Trump might speak at Bitcoin 2024. Which other US politician is going all pro-crypto? 🇺🇸
- Mt. Gox payback is finally happening. Will this repayment crash the Bitcoin price in July? 🫣
- TON's success attracts phishing attacks. Are Dapps on TON safe to use?🎣
- Dogwifhat takes a tumble. But what exactly affected WIF's price? 🐶
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Let's dive in after the market overview! |
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| | GLOBAL MARKET CAP | | $2.27T | | ▲1.33% (24h) | | | 24H MARKET VOLUME | | $86.55B | | ▲30.1% (24h) | | |
| | BITCOIN'S DOMINANCE | | 53.37% | | ▼0.44% (24h) | | | FEAR & GREED INDEX | | 44 | | Neutral | | |
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 | Bitcoin | | | $61,331.96 | | ▲0.51% (24h) | |
|  | Ethereum | | | $3,380.96 | | ▲1.98% (24h) | |
|  | BNB | | | $572.25 | | ▲0.62% (24h) | |
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Data as of: 25 Jun 2024 11:15 UTC |
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Nvidia Is Down But AI Crypto Tokens Are Up |
While Nvidia's been taking a beating on the stock market, a rather curious phenomenon has been unfolding in crypto. AI crypto tokens like Fetch.ai and SingularityNet have been making good gains, defying the downturn gripping the broader markets. We're talking double-digit weekly gains as these niche tokens continue shrugging off any negative sentiment. Any rational observer would assume that tokens directly associated with the AI revolution would be among the biggest casualties when a towering figure like Nvidia takes a hit from bears. Yet here we are, with speculative AI tokens pushing higher with total disregard for the company providing a huge chunk of the critical infrastructure underpinning modern AI applications. But what's making these AI tokens resilient to broader market sentiment? Read the full story! |
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Trump at the Bitcoin 2024 Conference |
According to Axios, the former president is in talks to speak at the Bitcoin 2024 conference in Nashville this July. But he's not the only political figure potentially gracing the stage. Trump's potential appearance isn't exactly shocking, given his recent pro-crypto stance. At a Mar-a-Lago event, he was all about praising Bitcoin miners and their role in energy grid stability. He's even open to crypto campaign donations now. Meanwhile, the Biden camp isn't sitting idle. They're reportedly reaching out to crypto industry insiders for advice on digital asset policies. (Quite the turnaround from their previous stance) But which other US politician is going all pro-crypto? Read the full story! |
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(Re)Hypothetically Speaking | |
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| The emergence of rehypothecated assets have created a conundrum, as it presents the issues of repetitive content and double-counting. |
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Will Mt. Gox Payback Crash Bitcoin? |
Crypto's longest-running telenovela is finally hurtling towards its dramatic conclusion. After what feels like a lifetime of waiting, there's finally some news for those who lost their Bitcoin in the infamous 2014 meltdown. The rehabilitation trustee just announced - repayments are scheduled to kick off in July 2024. We're talking about 850,000 Bitcoins that vanished into thin air. At today's prices, that's A LOT. But here's where it gets interesting. The trustee isn't just handing out crypto. They're talking about working with exchanges and following some repayment orders. Now, if you're not a former Mt. Gox user, you might be wondering why this matters. Think about it. When billions in long-lost Bitcoin suddenly reappear, it's bound to cause some waves. Will we see a massive sell-off from July? Read the full story! |
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TON's Success Turns It Into a Phishing Hub |
TON's dizzying ascent as one of crypto's hottest new ecosystems has turned it into a prime target for phishing attackers looking to exploit its rapid growth. According to blockchain security firm SlowMist, scammers have been descending on TON's rapidly expanding universe of apps, tokens, and platforms in droves. The open nature of Telegram's messaging infrastructure provides the perfect on-ramp for phishers to weasel their way into groups and siphon wallets en masse. By amassing such a devoted following so rapidly - fueled by the wild Notcoin and clicker game crazes - the ecosystem's success became its worst enemy as far as exposing fresh attack vectors. Are Dapps on TON safe to use? What measures should TON users take to keep their funds secure? Read the full story! |
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What's Happening to Dogwifhat? |
The memerati's beloved Dogwifhat token just went through a brief dump. The Solana-based memecoin saw its market cap slump enough to temporarily get booted from crypto's top 50 club this week. WIF's 38% weekly drawdown was certainly nothing concerning by ultra-volatile memecoin standards. The diehard bagholder brigade immediately started talking about fresh "accumulation zones" and bargain reloads. But what exactly affected WIF's price? Read the full story! |
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| And that's a wrap. We will be back with more updates tomorrow! |
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