Crypto Weekly (10/06 – 16/06): BTC Correction, 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.

BTC Chart

Top 10 Coins with the Highest Gains in the Past Week

Source: Coinmarketcap

Top 10 Coins with the Biggest Losses in the Past Week

Source: Coinmarketcap

Key News Updates from the Past Week

• CEO of io.net Ahmad Shadid Resigns Following Token Launch
• ZKsync to Airdrop 3.6 Billion ZK Tokens Next 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.

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.

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