US CPI data fail to support BTC as it drops to $67,000 from a peak of $70,000

Hot projects + Market overview

I. Mainstream exchange news

• Binance completes its WazirX (WRX) contract swap.
• Binance will launch NOT/BRL, TRU/TRY, and WIF/EUR spot trading pairs.
• Binance C2C introduces a "T+0" withdrawal policy that allows users faster withdrawal settlement.
• Coinbase CEO has met with several members of the House of Representatives in Washington to discuss setting clear rules for the crypto industry.
• OKX will launch ATH leverage trading, perpetual contracts, and simple earnings.
• OKX investigates multimillion account thefts, CEO Star clarifies cases are isolated.

II. Mainstream projects and trending events

• The US Fed keeps interest rates unchanged.
• The US Fed Chair Jerome Powell wants more proof of controlled inflation before easing policy, without promising any specific rate-cut plan.
• The US's annual unadjusted CPI rate for May is 3.3%, below market forecasts.
• Curve Finance founder gets liquidated amid a drop in the company’s CRV token price.
• Injective announces integration with PYUSD stablecoin, users can transfer PYUSD from Ethereum and Solana to Injective.
• Biden's campaign team is reportedly negotiating to accept crypto donations through Coinbase Commerce.
• Catizen users exceeded 17 million, with over 1 million on-chain since its launch two months ago.
• Circle expands its Web3 services to the Solana network.
• Aethir's distributed cloud computing network is live on the Ethereum mainnet.
• Ripple will use Axelar as a bridging protocol for EVM side chains.
• The ZKsync eco NFT project zkApes tweeted its alliance with WOOFi, Element, and imToken to pressure ZK Nation and Matter Labs to resist insider trading.

III. Funding news

• Layer3, a token distribution protocol, raised $15 million from a Series A round, participated by Electric Capital.
• Pixelverse, a crypto game in the Telegram ecosystem, raised $5.5 million from a funding round participated by Delphi Ventures.
• Kima, a Web3 payment company, raised $5 million from a pre-Seed round, led by Mastercard's R&D accelerator.
• Irys, a chain data developer, raised fresh funds from a round led by Lemniscap.
• Yuliverse, a metaverse blockchain game, raised $4 million from a pre-Series A round.
• Unite, a L3 blockchain solution for mobile games, raised $3 million from a round led by SuperLayer.

IV. Regulatory news

• Macao's Finance Secretary is exploring opening virtual asset activities under controllable risks.
• Zimbabwe has established a committee on regulating crypto operations.

V. Popular projects 

Market Overview 

BTC saw significant volatility as newly released US CPI data, below market forecasts,  prompted a rebound from $67,000 to about $70,000. However, Hawkish remarks from US Fed Chair Powell tempered expectations for future rate cuts, leading BTC to retreat to around $67,000.

The critical support level is at $66,000 and a break below could signal a decline to $64,000.

BTC Spot ETF as of June 12th

Overall Data:

• Total Net Inflow: $15.51 billion
• Daily Net Inflow: $85.32 million
• Single-Day Turnover: over $1.08 billion
• Proportion of BTC’s Market Value: 4.46%

Breakdown by ETF:

• GBTC:
  • Net Asset Value: $19.07 billion
  • Single-Day Net Outflow: $0
  • Cumulative Net Outflow: $18 billion
  • Single-Day Turnover: $454 million
• FBTC:
  • Net Asset Value: $11.87 billion
  • Single-Day Net Inflow: $51 million
  • Cumulative Net Inflow: $10 billion
  • Single-Day Turnover: $331 million
• ARKB:
  • Net Asset Value: $3.31 billion
  • Single-Day Net Inflow: $9 million
  • Cumulative Net Inflow: $3 billion
  • Single-Day Turnover: $157 million

CRV prices down by 37% 

The founder of Curve Finance faces liquidation as the company's CRV token price drops, including holdings from his primary address on Inverse Finance. The CRV price plunged from $0.3605 to a low of $0.219, marking a 37.7% decline.

IO is up 50% in a day

 Upon listing on Binance, IO traded at around $3.7, while off-market users had acquired them at a higher price of $5, sparking a demand and driving the price above $6.5.

IO's market cap is around $550 million, with an estimated value of $4.6 billion, parallel to the price of RNDR’s value. Render Network (RNDR) has formed a long-term strategic partnership with io.net.

MAGA is up 21% in a day 

MAGA Hat, a memecoin inspired by Trump's iconic hat, promises no tax and is completely community-driven. The token surged over 60 times from its low point. MAGA Hat is down by 70% from its peak, but 21% up in the last 24 hours, with a trading volume reaching $90 million.

As the US election approaches, this kind of memecoins will continue to generate buzz.

On-chain Daily

1. Kendu: Kendu is a memecoin that features a Japanese-style dog.

Current Price: $0.000207

Historical High: $0.000256

24-hour Change: +5%

Current Market Value: $206M

Official Twitter: https://twitter.com/kenduinu

Trading Panel: https://dexscreener.com/ethereum/0xd9f2a7471d1998c69de5cae6df5d3f070f01df9f

2. BOYSCLUB: BOYSCLUB is the comic where Pepe came from. The address of this token also starts with 0x69.

Current Price: $0.01

Historical High: $0.12

24-hour Change: +122%

Current Market Value: $10M

Official Twitter: https://twitter.com/0x69686766bclub

Trading Panel: https://dexscreener.com/ethereum/0x530433ee503a05c5dfc9ccac7740df230ee3adbd

3. DADDY: DADDY is a memecoin on the Solana chain, featuring the controversial US celebrity Andrew Tate. The project is taken over by the community and 40% of the tokens have been sent to Tate, gaining his strong support. However, a recent scandal revealed insider trading that took over 30% of the total coin supply before the project announcement.

Current Price: $0.307

Historical High: $0.362

24-hour Change: +2119%

Current Market Value: $307M

Official Twitter: https://x.com/DaddyTateCTO

Trading Panel: https://dexscreener.com/solana/zcdaw3jpcqey8jyvxnvmqs2cu35cyddy4ot7v8ednhz

4. FATHER: FATHER is another memecoin on the Solana chain featuring the God. It gained popularity with MOTHER and other family tokens. 

Current Price: $0.00112 (Historical High)

6-hour Change: +796% (Token Launch Time: 6/12, 20:45 UTC)

Current Market Value: $1M

Official Twitter: https://x.com/realfatheronsol

Trading Panel: https://dexscreener.com/solana/txg2f4ihgqeyx4ipy5thksuzqumzywywy6t1siufsnz

5. BOYS: BOYS is a memecoin on the Base chain, originating from the Pepe comic.

Current Price: $0.0049

Historical High: $0.006

24-hour Change: +42%

Current Market Value: $4.4M

Official Twitter: https://x.com/boysclubbase1

Trading Panel: https://x.com/boysclubbase1

6. MGR: MGR is a memecoin on the Base chain, using Milady's dark version as the image, the overall art style is gloomy and frightening.

Current Price: $0.0(8)173

Historical High: $0.0(8)289

6-hour Change: +140% (Token Launch Time: 6/12, 17:30 UTC)

Current Market Value: $760K

Daily Rune Observation

Gas Fee Change: The current BTC transaction fee is 36 satoshis/byte, a 24-hour increase of 50%. The Bitcoin transaction fee recovered slightly following yesterday's CPI announcement.

 Today's Popular Projects

  (The market heat plummeted, and minting numbers are low.)

HODL•BOX•RUNE•PIE: A total of 10,000 tokens issued, with 5% reserved. Currently, 5,837 have been minted, with 31 in the memory pool. The minting process is at 64%, with 122 holding addresses.

BITMAP•EMPORIUM: A total of 21,000 tokens issued, with 20% reserved. Currently, 11,531 have been minted, with 15 in the memory pool. The minting process is at 75%, with 516 holding addresses. 

BITCOIN•MONKEY: A total of 100,000 tokens were issued, with 20% reserved. Currently, 61,095 have been minted, with 309 in the memory pool. The minting process is at 27%, with 741 holding addresses.

Top Runes Projects Tracking

DOG•GO•TO•THE•MOON: Runes #3, also known as the airdrop Runes of Runestone. ts current price is 10.2 Sats, with a 24-hour increase of 10.7%, and a current market value of 10,249 BTC. 

BANK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol based on Bitcoin L1. Its current price is 17.8 Sats, with a 24-hour increase of 37%. The current market value is 3,738 BTC, and it has been on the rise recently.

RSIC•GENESIS•RUNE: Runes #8, also the Runes created by the famous inscription mining project RSIC. The current price is 12.95 Sats, with a 24-hour increase of 6.15%. The current market value is 2,714 BTC.

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