Crypto Weekly (10/06 – 16/06): BTC Correction, Controversy Surrounding zkSync Airdrop

The crypto market last week witnessed significant selling pressure on Bitcoin, leading to a price correction. Additionally, zkSync conducted an airdrop for its community after two years of development, but it sparked controversy and received mixed reactions from the community.

Controversy Surrounding Zksync Airdrop

Crypto Market Recap

In the second week of June, Bitcoin continued its downward correction despite continuous purchases from Bitcoin ETF funds in the previous week. BTC dropped from the $70,200 level to around $65,000 and is currently fluctuating around $66,400. Strong selling pressure pushed Bitcoin to its lowest level in the past two months, influenced by interest rates and inflation concerns in the United States.

Notably, the Layer 2 scaling solution for Ethereum, zkSync, recently airdropped tokens to its supportive community. However, this distribution method sparked controversies and faced opposition, leading to many individuals boycotting the project.

Crypto Market Recap

BTC Chart

Top 10 Coins with the Highest Gains in the Past Week

Up

Source: Coinmarketcap

Top 10 Coins with the Biggest Losses in the Past Week

Down

Source: Coinmarketcap

Key News Updates from the Past Week

Token Unlock Events This Week

This week, several projects will unlock a significant number of tokens, including a $43 million token unlock for ID, a $20 million token unlock for PIXEL, and a $10 million token unlock for MANTA.

Unlock

Source: token.unlock

Macro News Highlights This Week

This week, investors are eagerly awaiting the release of the U.S. Initial Jobless Claims data, scheduled to be announced at 12:30 PM on June 20th (UTC time). The market closely watches this figure, as it can have a negative impact on the USD if it exceeds expectations, or conversely, provide support for a rise in the greenback if it falls below expectations.

Don’t forget to follow us for the latest updates on the crypto market!

Love

0.0/5

Love

Latest

Donald Trump’s Company Files To Launch Spot Bitcoin Etf

News | Bitcoin | Editor Choice

Donald Trump’s Company Files to Launch Spot Bitcoin ETF

Truth Social, Donald Trump's social media platform, has made headlines by filing to launch a spot Bitcoin ETF, marking a bold move into the digital finance space as the crypto market heats up again.

Team Continues To Deposit $trump Into Exchanges

Memecoin | Editor Choice

Team continues to deposit $TRUMP into exchanges

This morning, a wallet allegedly belonging to the development team of the memecoin $TRUMP deposited 4.17 million $TRUMP tokens, equivalent to $46.97 million USD, onto major exchanges.

Pi Network Tops The Rankings Of Crypto Applications

Editor Choice | Pi Network

Pi Network tops the rankings of crypto applications

According to a recent survey from the Zypto VISA card, Pi Network has unexpectedly risen to the top position in terms of deposit frequency, surpassing DASH, USD1, and XRP.

Is Bitcoin Preparing For The Next Wave Of Institutional Capital

News | Bitcoin | Editor Choice

Is Bitcoin Preparing for the Next Wave of Institutional Capital?

Bitcoin is on the verge of attracting a massive wave of institutional capital, as global financial advisors gain easier access to the digital asset – setting the stage for a potential supply shock and a powerful price rally.

Ripple’s Rlusd Stablecoin Officially Approved In Dubai

News | Editor Choice | Policy & Regulations

Ripple’s RLUSD Stablecoin Officially Approved in Dubai

Ripple’s RLUSD – the company’s new stablecoin – has just been approved in Dubai, marking a significant step in its global expansion strategy and reinforcing its position in the digital finance market.