Crypto Market Last Week
Early June saw a strong and continuous inflow of capital into the cryptocurrency market through Bitcoin ETFs over many days. As of June 10th, there had been 18 consecutive days witnessing a surge of investment into the market. However, despite the abundant capital supply, Bitcoin’s price movement was unfavorable for investors.
At the beginning of the week, Bitcoin’s price rose from $67,600 to $71,900, but as the week neared its end, it was negatively impacted by unfavorable macroeconomic news from the United States, causing a sharp decline to $68,500. Currently, it is trading around $69,500. This steep price drop resulted in many altcoins losing 20-30% of their value, causing significant losses for investors.
Despite the adverse news severely impacting the market, especially altcoins, there were still positive signals. BNB and TON officially hit new all-time highs, while many projects began implementing airdrop programs for their communities.
#bitcoin #nostr
Good morning 🌅 from here.
I'm going to buy more Bitcoin 💵
#bitcoin
#nostr
#zap
Bitcoin Eyes All-Time High! 🌟
Bitcoin’s price surged to $71,200, just 4% shy of its all-time high of $73,700, thanks to massive inflows into US spot Bitcoin ETFs. On June 4, US Bitcoin funds saw $887 million in net inflows, with Fidelity Wise Origin Bitcoin Fund leading the way at $378 million. BlackRock’s iShares Bitcoin Trust and ARK 21Shares Bitcoin ETF also saw significant investments. This surge signals a promising outlook for Bitcoin and the crypto market.
Stay tuned for more updates!💬
#crypto #web3 #Bitcoin #simple #simplecoin #nostr
just 0.01 BTC and was very cheap then.
if I had known, I wouldn't have sell 😕 my BTC 12 years ago.
#bitcoin
#nostr
Goodnight 😴 everyone 💤
#nostr
#America
#bitcoin
⚡
Bitcoin 💵 is the most well known crypto currency in the world 🌎 and unite the world 🌍 just like football does.
#nostr
#bitcoin
#zap
nostr:note174p5jvsmq89tkwge8x6u73y4gk7l04nr30qym8fph7j6xzfkjc8q6lq9vg
What is the magic 🪄 behind the increasement of Bitcoin over other currency?💲
#magic
#bitcoin
#cryptocurrency
#nostr
#zap
with the increasement in price of Bitcoin 💵 now, it's obvious that the price will supercede the way it was before since the genesis. what's your prediction for the year ending?
#zap
#crypto
#bitcoin
#nostr
Bitcoin 💵 might enter $100k before this year runs out.
#bitcoin
#crypto
GM
Dear men.
Here is the reality of the young woman you sent to school with the hope of marrying her some day when she's done.
While you pay her school fees, house rents, hand outs, creams and stock her kitchen, she's busy jumping like a frog from one bed to another acquiring PhD in Bed to bed midfield.
Stop feeding the cow or horse you don't own because it's very easy for another man to eat or ride on it.
Pig farming is more profitable to you than educating a woman with the hope of marrying her.
Be wise.
Stay putinized.
Arbitrum Establishes $250 Million Fund for Gaming
Recently, the cryptocurrency community was abuzz with excitement as the Arbitrum team proposed a massive investment plan in the Web3 gaming sector. With ambitions of becoming a major player in the decentralized gaming world, they aim to establish a $250 million fund to develop this sector over the next three years. However, this plan quickly became a topic of controversy, with many questioning its prudence.
Proposals Live For Voting
3. Catalyze Gaming Ecosystem Growth on Arbitrum
4. Philot Phase: M&A for ArbitrumDAO
5. Front-end interface to force transaction inclusion during sequencer downtime
— Arbitrum (💙,🧡) (@arbitrum) May 29, 2024
The story began in March when the proposal to establish the Gaming Promotion Program (GCP) appeared on the Arbitrum forum. The proposers argued that while Arbitrum’s DeFi sector was booming, GameFi had similar potential. Therefore, they believed it was the perfect time for Arbitrum to dive into this “game.”
The goals of the GCP are quite ambitious: to attract and retain talented game developers, promote the use of Arbitrum technology in the gaming industry, and support the development of high-quality, long-term vision games. To achieve this, they proposed an enormous budget of 225 million ARB tokens, equivalent to over $250 million.
The funds are allocated as follows:
160 million ARB to attract developers (25 million for grants, 135 million for investments)
40 million ARB for rewards and bounty programs
25 million ARB for operational costs
Related: Arbitrum Foundation Funds Crypto Film
Community Reaction
Arbitrum
However, when the proposal was put to a vote from May 24 to June 8, it quickly faced a wave of criticism from the community. The first point of contention was the sudden increase in operational costs, from $10 million in the initial draft to $25 million when it went to vote. Many felt this number was excessively high and hard to justify, especially since it accounted for 10% of the total budget for just three years of operations.
But the most controversial aspect was the total investment amount. Many community members believed that pouring $250 million into game development was excessive and unwise. They pointed out that while traditional game studios struggle to develop with limited budgets, hundreds of millions are being funneled into Web3 games of questionable quality.
In reality, many current Web3 games are criticized for focusing solely on the “earn” aspect, neglecting the player experience. They often have monotonous gameplay centered around “click-to-earn” mechanics, lacking the creativity and depth found in traditional games. Therefore, such a massive investment in Web3 gaming is seen as disproportionate and potentially wasteful.
Arbitrum’s story highlights a sad reality in the cryptocurrency world: sometimes, excitement and the desire to “keep up with trends” can lead to poorly considered decisions. While investing in Web3 gaming is not a bad idea, the approach and scale of investment need careful consideration.
Instead of racing for quantity, perhaps blockchain projects should focus on quality: supporting visionary developers, encouraging innovation, and prioritizing user experience. Only then can Web3 games truly take off and prove their value, rather than becoming just another “bubble” in the crypto world.
TRUMP Token Rebounds After Sharp Decline Due to Donald Trump’s Conviction
The largest meme coin associated with US presidential candidate Donald Trump has rebounded after a steep 16% drop immediately following his conviction on 34 counts of falsifying business records.
Azcnews Trump Token Rebounds After Sharp Decline Due To Donald Trump's Conviction
The case involving Trump’s hush money payment to adult entertainment star Stormy Daniels will now move to sentencing. Despite the conviction, Trump maintains his innocence and labels the trial outcome as a “disgrace.”
Trump stated, “This is a rigged trial by a corrupt and conflicted judge. “This is done by the Biden administration to hurt or wound a political opponent […] The trial will actually take place on November 5th by the people.”
According to CoinGecko, over $130 million was wiped off the market capitalization of the MAGA token (TRUMP) linked to Donald Trump in a short 20-minute period after this news, plummeting from $13.48 to $11.27. However, its price quickly recovered and is currently at $14.70 at the time of writing – and is just 1.5% away from reclaiming the 24-hour high of $14.92.
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TRUMP started trending downwards two hours before the conviction as jury deliberations stretched into the 11th hour over two days. Super Trump (STRUMP) and Baby Trump (BABYTRUMP) also experienced similar declines on the news but did not recover to the same extent as TRUMP.
Related: An Investor Becomes a Millionaire Thanks to Memecoin Shiba Inu
The coin associated with Biden saw an initial surge, then decline. Jeo Boden (BODEN), a memecoin linked to Trump’s political opponent, Joe Biden, initially rose by 6.4% before dropping to $0.283 USD – even lower than its price before Trump’s conviction, according to CoinGecko.
Crypto gamblers using the blockchain-based prediction market Polymarket still anticipate Trump defeating Biden in the upcoming election on November 5th – with a win rate of 54% compared to Biden’s 40%.
for OpenEx
count down for Mainnet lunch
#OpenEx
#crypto
🌐 Crypto's Role in the Global Economy🌐
Cryptocurrency is revolutionizing the global economy by offering decentralized financial systems, enhancing cross-border transactions, and promoting financial inclusion. Blockchain technology ensures transparency and security, fostering trust in digital transactions. As countries explore Central Bank Digital Currencies (CBDCs), crypto's impact on monetary policy and global trade becomes more significant. Despite regulatory challenges, the potential for innovation and economic growth keeps the crypto momentum strong. Stay informed as this transformative journey unfolds! #Crypto #Blockchain #GlobalEconomy #Innovation #Finance
🇺🇸 Crypto in America 🇺🇸
The landscape of cryptocurrency in the United States is evolving rapidly. From regulatory challenges to groundbreaking innovations, the industry faces both opportunities and hurdles. Recent debates around Bitcoin's Lightning Network and the role of decentralized platforms like Nostr highlight the community's dynamic nature. As developers and investors navigate this complex environment, the focus remains on balancing innovation with security and regulatory compliance. Stay tuned for more updates as the crypto narrative in America unfolds! #Crypto #Bitcoin #Nostr #Innovation #Regulation