Tuesday, 11 June 2024

Market Summary

Market Summary 11 June 2024

Bitcoin Price: US$ 69,570.04 (-0.16%) 
Ethereum Price: US$ 3,667.85 (-1.04%) 

The SEC is considering a spot Ether ETF application from ProShares, which was one of the first asset managers to get approval from the SEC to list and trade shares of a spot investment vehicle tied to ETH futures. The final approval for the spot Ether ETFs could take months, but some experts expect it to go through sometime in July. DeFi Technologies, a publicly listed ETP provider and venture capital firm, has decided to adopt Bitcoin as the company’s primary treasury reserve asset. Following this announcement, the price of DeFi Technologies’ shares rose on Canadian stock exchanges and U.S. OTC exchanges. Ethereum layer-2 Optimism has implemented fault proofs into its smart contracts, marking the network’s move towards “Stage 1” of decentralisation. This move is expected to pave the way for full decentralisation or “Stage 2” in the future. 

Travala, a crypto-native travel booking firm, has made a significant stride by integrating with the Telegram Open Network. This integration enables Toncoin holders to utilise their tokens for booking travel services, further bolstering Travala’s commitment to mass cryptocurrency adoption and expanding its existing repertoire of 127 payment methods. Concurrently, the travel industry is harnessing the power of blockchain and digital assets to enhance customer experiences and financial efficiencies. A prime example is the AI-powered travel booking platform Sleap, which has collaborated with the Camino network to deliver personalised travel bookings and in-wallet deals. In a similar vein, Japan Airlines has ventured into the realm of nonfungible tokens (NFTs) with the launch of the Kyoko project, offering holders access to unique Japanese travel experiences beyond the reach of mainstream travel booking agencies. On another front, infrastructure provider Fireblocks, through a strategic partnership with Coinbase, now caters to institutional and retail investors by offering derivatives and trading products, including trading perpetual futures and spot contracts with Coinbase International Exchange. In addition, Fireblocks has launched a custodian arm in the United States to meet the growing institutional demand for digital assets. Meanwhile, the open-sourced blockchain platform Cardano, under the stewardship of its creator Charles Hoskinson, is gearing up for a significant milestone with the upcoming Chang fork. This development marks the transition into the Age of Voltaire, the final era of Cardano’s roadmap, introducing 

The Solana Foundation has taken decisive action against a group of validator operators involved in sandwich attacks on traders. These guilty validators, identified via mempools, have been removed from the delegation program, which assigns Solana’s SOL tokens to validators, and will not be assigned any delegation work moving forward. Meanwhile, Akira, a ransomware that has stolen $42 million from over 250 organisations across North America, Europe, and Australia within a year, has extended its reach to Singapore. In response, Singaporean authorities have issued a joint advisory to alert local businesses about the rising threat of an Akira ransomware variant and advised compromised businesses against paying the ransom. On another front, the Ethereum layer-2 network Base has seen its total value locked (TVL) surpass $8 billion, just days after it overtook Optimism’s OP Mainnet. Despite leading all Ethereum layer 2s by transactions per second over the past month and cashing in the most on-chain profits over the last three months, Base’s popularity with memecoins has also attracted scammers. This has resulted in an 18-fold increase in funds stolen from phishing scams from January to March, highlighting the double-edged sword of rapid growth and popularity in the crypto space. 

Source: https://cointelegraph.com 

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