Crypto Market Recap
At the beginning of June, Bitcoin reached near its record high of almost $72,000. However, by the third week of the month, the price experienced a significant correction. Over the past week, BTC has dropped from $67,200 to approximately $63,000. This decline is partly attributed to the onset of Euro 2024, leading many investors to pull their funds from the cryptocurrency market.
Bitcoin’s downturn has dragged many altcoins to new lows. Previously high-valued coins have caused difficulties for many investors, highlighting the volatility and unpredictability of the crypto market.
One of the key events this week was the cross-chain solution LayerZero (ZRO) announcing its long-awaited airdrop program for the community. Despite the project undergoing several rounds of Sybil filtering, the decision to proceed with the airdrop sparked considerable discontent among early supporters of 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
- Binance Lists ZKsync with ZK Token Distribution Program
- Binance Announces MEW Memecoin Listing on Binance Futures
- Arkham Offers $150,000 Bounty to Identify DJT Trump Token Creator
Token Unlock Events This Week
This week, several projects are set to unlock a significant amount of tokens:
- Optimism (OP): Unlocking tokens worth $54 million.
- Sui (SUI): Unlocking tokens worth $60 million.
- AltLayer (ALT): Unlocking tokens worth $19 million.
Source: token.unlock
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