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Jun 16 • 16 tweets • 17 min read
We had been seeing green for most of the day as more assets recorded a relief rally. In #Coin360 Daily Digest 👇

@TrueGlobalVCs @circlepay @animocabrands @TinyTapit @HuobiGlobal @HuobiTH @InverseFinance @ankr @optimismPBC @AcalaNetwork @pendulum_chain @amplitude_chain Image
1/ $BTC failed to cross $23k overnight and went back to its $21k level. As the rate hike seemed to be priced into the market, the market leader didn't make big moves.

@intotheblock data suggested a potential bottom as it spotted the largest #BTC inflow since Feb.
2/ $ETH spiked by 4%+ today, but traders warned of a possible bull trap amid @CelsiusNetwork and 3AC's risks.

$TRX was among the top gainers as @trondaoreserve announced to withdraw 3B #TRX to protect $USDD peg. Other winners were $EGLD $THETA $HNT $SOL with double-digit gains. Image
3/ @TrueGlobalVCs closed its $146M TGV4 Plus Follow On Fund, which was led by a group of 15 general partners putting in more than $62M of their money into the fund.

cointelegraph.com/news/true-glob…
4/ @circlepay introduced its newest #stablecoin $EUROC (#EuroCoin), which will launch on June 30.

blockworks.co/circles-new-eu…
5/ @animocabrands is expanding with the @TinyTapit acquisition. 80.45% of the issued capital of this #EdTech platform now belongs to #AnimocaBrands.

animocabrands.com/animoca-brands…
6/ @HuobiGlobal decided to shut down @HuobiTH due to Thailand's SEC trading license cancelation.

decrypt.co/103088/huobi-s…
7/ @InverseFinance lost at least $1.2M after a flash loan attack. According to @peckshield, a bot that front-run the original hack appeared to perform the exploit.

theblock.co/post/152404/in…
8/ The RPC provider and #web3 developer toolset @ankr confirmed its collaboration with @optimismPBC for DApp developers to access Optimism’s public and premium RPCs.

cointelegraph.com/news/ankr-part…
9/ @pendulum_chain & @amplitude_chain have been integrating with @AcalaNetwork to bring its $aUSD to their @Polkadot and @kusamanetwork-based parachains.

medium.com/acalanetwork/p…
10/ The DEX & CeDeFi aggregator @OpenOceanGlobal has been available on @harmonyprotocol, with @CurveFinance @SynapseProtocol @SushiSwap @DefiKingdoms @Defiraverse @FoxswapFi @VenomDAO integrations.

openoceanglobal.medium.com/openocean-expa…
11/ @EspressoSys' first product, Configurable Asset Privacy on Ethereum (CAPE), has gone live on testnet.

coindesk.com/business/2022/…
12/ @VelasBlockchain announced the joint venture and integration partnership with @vulos_official, which will allow Velas users to create a digital identity and have seamless #web3 exploration.

velasblockchain.medium.com/velas-announce…
13/ Other news:

@Yahoo, @Meta look to Hong Kong for metaverse tests: forkast.news/headlines/yaho…

Metaverse could be worth $5T by 2030: @McKinsey report: cointelegraph.com/news/metaverse…

The Three Arrows Capital crisis hits the fan with this new twist: ambcrypto.com/the-three-arro…
14/ Spain’s largest airline @vueling adopts #Bitcoin as a payment method for tickets: finbold.com/spains-largest…

@CelsiusNetwork Investors Unlikely to Provide More Funds to Bail Out Crypto Lender: wsj.com/articles/celsi…
15/ Liking our daily digests? Like, retweet and join us on Twitter & Telegram!

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Telegram announcement: t.me/COIN360Channel

And check out our heatmap: coin360.com

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More from @COIN360com

COIN360 Profile picture
Jun 17
After a short rebound, the crypto market came back down on fears of a potential implosion as 3AC was facing serious insolvency risks. In #Coin360 Daily Digest👇

@Immutable @DecentralGames @decentraland @sknupsgg @dolcegabbana @LidoFinance @FTX_Official @BitvoCrypto @PolyNetwork2 Image
1/ $BTC was wandering around the $20k support level with the RSI falling to the deeply oversold stages.

This suggested a short-term relief rally, but if #BTC breaks support, a new round of liquidations will occur. Traders should beware of the sell-off as:
2/ $ETH faced a similar situation as it was entering the oversold level, but traders were afraid of a drop to $1k which could push the price lower.

Follow the market with our heatmap: coin360.com Image
Read 16 tweets
COIN360 Profile picture
Jun 17
Despite the clarification made, @Tether_to didn't seem to be able to retain its users as the No.1 #stablecoin market cap has fallen under $70B, reaching its lowest point since October 2021.

$USDT $USDC $BUSD $DAI $FRAX $TUSD Image
Data from @santimentfeed also suggested that big investors were staying away from $USDT since the addresses with $100k to $10M in $USDT had plunged by -50.5% of their coins, showing signs of holding less percentage of supply.

Meanwhile, @MakerDAO appeared to try to protect their slight recovery in $DAI by temporarily disabling the DAI Direct Deposit Module (D3M) for @AaveAave, which is believed to help them avoid the risk of not being able to retrieve all the $DAI that @CelsiusNetwork borrowed.
Read 7 tweets
COIN360 Profile picture
Jun 16
The second financial quarter of 2022 witnessed the first-ever drop in #stablecoin supply from the beginning of cryptoverse, according to @coinmetrics Head of R&D @LucasNuzzi.

This was caused by multiple factors, as...
Data from @cryptoquant_com pointed out that the total supply of stablecoin had a freefall on May 14, which might have been a result of whales' effort to exit the market following $USDT's depegging.

According to on-chain analytics platforms, 7B $USDT were wiped out.
$DAI was hit hard by the collapse of @terra_money $UST and recorded a massive liquidation, marking its supply down by 34% from 9.2B at the beginning of Q2 to approximately 6B today.
Read 7 tweets
COIN360 Profile picture
Jun 15
We have entered very rough waters as $BTC got lower than $20,700. Today in #Coin360 Daily Digest 👇

@Tether_to @CelsiusNetwork @trondaoreserve @trondao @usddio @nftport_xyz @TAGHeuer @filecoingreen @FilFoundation @nansen_ai @chainlink @MoonbeamNetwork @ElrondNetwork Image
1/ $BTC marked an 8%+ drop in the past 24h and dropped to below $20,700 at the time of writing. With the price action, many analysts doubted #BTC's ability to sustain the low $20,000 zone for long.

$BTC number of addresses in loss (7d MA) reached an ATH: Image
2/ $ETH was bleeding to under $1.1k following $BTC's plunge. The percentage of @ethereum addresses in profit has dropped to the lowest level since April 2020, as per @intotheblock:
Read 17 tweets
COIN360 Profile picture
Jun 15
0/ June 8 - 14 was severe for crypto and the broader financial markets as the U.S. CPI resulted in a strong reaction.

$BTC recorded red candles every day from June 7, which meant there was not enough buying power. The intensified sell-off on June 13 caused a $4,100 loss for it. Image
1/ In this period:
$BTC briefly touched $20.8k, falling by 29% in a week
$ETH traded below $1.2k, down ~75% from ATH
The total crypto market cap dropped below $1T
The Crypto Fear & Greed index touched 8 points
Over 240,000 traders suffered from losses in $1.3B crypto liquidations Image
2/ $ETH lost its share of the total market cap due to several reasons. The troubles with its #DeFi space, or $stETH "depegging" & @CelsiusNetwork insolvency crisis, plus the delayed difficulty bomb caused the mess.

ETHBTC ratio slid from the high of 0.076 on May 11 to 0.0509. Image
Read 11 tweets

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