Crypto Weekly (17/06 – 23/06): BTC Slightly Down, LayerZero Airdrop

Optimism (OP): Unlocking tokens worth $54 million.
Sui (SUI): Unlocking tokens worth $60 million.
AltLayer (ALT): Unlocking tokens worth $19 million.

The crypto market witnessed a slight decline in Bitcoin and a subsequent sharp drop in various Altcoins last week. In addition, LayerZero also announced an Airdrop for the community.

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.