🦎🚀 The carnage continues... 🩸

By rahmat hidayat

Monday, June 24, 2024

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! What were you up to over the weekend, Geckos?     Is this truly the end, or will there be more surprises in store for us this week?    In today's news:   Blitzkrieg on Bitcoin 📉 A not-so-Turkish delight 🕵️‍♂️   Read on! 24h Hot Searches Worldwide 🔥 MAGA Hat     (-1.9%) Notcoin        (-14.2%) Toncoin         (-5.9%) ZKsync         (-12.6%) LayerZero   (-16.2%) Solana           (-7.3%) Pepe            (-10.7%) Ordinals and Runes Hit $1 Billion Market Cap   Bitcoin-based non-fungible tokens (NFTs) have quickly grown to a $1 billion valuation, as interest surged in recent times.   What are some of the popular collections driving this growth? Read more Blitzkrieg on Bitcoin 📉   The world's largest cryptocurrency isn't doing well, and the German authorities may be to blame.   Last Friday, the price of Bitcoin fell from $64,600 to $63,500 before stabilizing around $64,000 over the weekend.   However, the plunge resumed on Sunday night, pushing Bitcoin lower to $62,200 today.   Most of the crypto community believes that the German government may be the culprit behind the recent price action, who are starting to offload their stash of seized Bitcoin.   Approximately 50,000 Bitcoin, valued at around $3B, was originally confiscated from the movie pirating website Movie2k.to in 2020.   According to blockchain analytics platform Arkham Intelligence, close to $270M has been sent to centralized exchanges to be sold, with over 47,000 BTC still being held by the German government.   Editor's Note: Governments selling BTC is not something new, but the very size of their holdings may have an impact on how the market will play out in the near future. With $3B worth of Bitcoin left to distribute into the market, it's no surprise that even the most bullish crypto natives may be hesitant to start bidding.   Use web3 a lot on your smartphone? Then check out Rabby Wallet Mobile, which boasts extra security features and a friendly UX. Watch now A not-so-Turkish delight 🕵️‍♂️   The Turkish crypto exchange BtcTurk has lost approximately $54M worth of AVAX tokens after they were suspiciously transferred out of the platform's hot wallets last Saturday.   According to crypto sleuth ZachXBT, the funds were transferred to Coinbase and Binance through THORChain, converted into Bitcoin, and withdrawn into two other wallets.   Binance, which is assisting BtcTurk in investigating the exploit, has successfully frozen over $5.3M worth of stolen funds.   However, that did not stop the attacker from selling the remainder of the stolen funds, causing the price of AVAX to drop by 8.4% from $27.20 to $24.92.   In an announcement posted after the incident, BtcTurk maintains that the exchange remains solvent and that their cold wallets are still secure.     Find out about the liquid staking landscape on Solana and some of the top liquid staking platforms to explore. Learn more In Other News...   Crypto Payouts in Esports. Teamfight Tactics and Hearthstone tournaments will pay players $20,000 in prize money during Base's On-Chain Summer II campaign.   Another GameFi Airdrop. AI-driven fighting game AI Arena has launched its NRN token following a play-to-airdrop campaign this spring.   Arthur Hayes' Bullish Stance. BitMEX co-founder Arthur Hayes claims Japan's banking system is in dire straits, which he believes will boost Bitcoin and crypto markets.   Celebrity Hacks. 50 Cent's Twitter was hacked to promote a Solana meme coin.   $900M in Outflows Last Week. Grayscale's GBTC and Fidelity's FBTC led the outflows, while BlackRock's IBIT was the only ETF to record net inflows.   Standard Chartered is Building a Spot BTC, ETH Trading Desk. Standard Chartered plans to enter spot cryptocurrency trading, becoming one of the first global banks to do so. 🦎Tell us what you think!   We've just revamped our newsletter with a new and fresh format!   Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on! Let us know

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