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Blockchain beacon weekly

Tanja Nechet

News editor

Jun 6, 2024 at 05:12

Hello, fellow crypto explorers!  Buckle up and let’s dive in! 

🔥 TAIKO claim and trading reminder

If you have participated in testnet since the beginning of 2023, Bybit, Kukoin, Bitget, Gate, Mexc, and other exchanges will list $TAIKO today. Link to token claim.

🤡 Vitalik Buterin expressed his opinion about memecoins from celebrities

“I’m feeling quite unhappy about “this cycle’s celebrity experimentation” so far. “Financialization as a means toward an end”, I can respect if the end is worthy (healthcare, open source software, art, etc). Financialization *as the final product*, 🤮 Ashton and Mila’s Stoner Cats was vastly more honorable than anything we’ve seen from this 2024 celebrity memecoin era – at least there was an actual show being funded. How do we push things in a better direction?”.

👉 Spot Bitcoin-ETFs recorded the second-largest capital inflow of all time

The U.S. sector of spot bitcoin-ETFs recorded a net capital inflow of $886.75M, the second largest since the launch of the products.

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The crypto fund from Fidelity attracted the most funds, it added $379M to its balance sheet, and the volume of funds under management crossed the $9B mark.

In addition, BTC rose to $72K in the past 24 hours, and there are chances to hit new ATH if it hits $75K. 

⚖️ FTX is ready to pay $885M to the IRS

Cryptocurrency exchange FTX has filed a draft agreement with the US Internal Revenue Service (IRS). The company is ready to settle the dispute by repaying $885M in debt – $200Mimmediately and $685M after the rest of the claims are settled. 

The agency said it plans to challenge the agreement in court. Earlier the IRS demanded $44B, then – $24B.

🐈 Massachusetts authorities investigates ‘Roaring Kitty’s’ GameStop trades

Massachusetts securities regulator is investigating Keith Gill, known as “Roaring Kitty,” for his GameStop trading activities during the 2021 meme stock frenzy. Secretary of State Bill Galvin’s office is probing Gill’s recent $116M bet on GameStop shared on Reddit, though its authenticity remains unverified. 

The inquiry follows a prior 2021 investigation which ended with a settlement with Gill’s former employer for oversight failures. While the U.S. SEC also examines GameStop options trading, it hasn’t confirmed any details or found evidence implicating short sellers in the meme stock surge.

🔑 Key crypto market highlights (June 5-12)

💵 Ideas

[1] 🔔 Don’t miss Atleta Network test network launch

Atleta Network is an EVM-compliant, modular, multi-tiered blockchain network built specifically for the sports industry. It contains a large Data Layer for storing data in text, audio, and video formats. 

The project recently launched the Atleta Olympia test network, with over 250,000 transactions in the first two days. 

During the three months before TGE, the ecosystem will be filled with new products. Also, don’t forget about the 17.33% of the total ATLA token offering that is allocated () to the community.

Follow the project on Twitter and Discord for announcements.

To participate: 

  • Claim test tokens ATLA in the faucet;
  • Add ATLA to staking;
  • Create our vote by clicking “Create proposal” on the page;
  • By following these steps every day, we will get more points.

[2] 🔔Solana’s next move…

According to Bitcoin_Signals’s technical analysis, Solana (SOL) is breaking out of downtrend resistance. SOL has found resistance at $175.00 and is likely to correct in the short term, with the general backdrop being positive and we will buy the pullback.

  • Purchase the breakout above $175.00 if a new high is reached;
  • Purchase a pullback to $168.00 or just below. SOL is expected to rise to at least $190.00.

*Any technical analysis, in the long run, cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions.

[3] 🔔Complete the tasks of the 4th week in the Initia project testnet

Initia is an L1-compliant network that utilizes MoveVM technology, the project uses a robust economic system throughout the ecosystem. Initia’s team includes former founders and engineers from such giants as Ethereum and Cosmos. The amount of raised funds in the pre-seed round from Binance Labs is not disclosed, but the seed round received $7.5M from Delphi Digital, Hack Vs, Figment Capital, and others.

What to do?

  • Request test tokens in the faucet, you need to have 20 Gitcoin Passport points;
  • In the Swap section buy 0.1 TIA, 5 TUC, 0.0001 ETH, and 1 USDC;
  • Send 1 USDC to the Blackwing network;
  • Send 1 INIT to the INIT AI network;
  • Send 0.1 TIA to the Noon network;
  • Send 5 TUC to the Tucana network;
  • Send 0.0001 ETH to the Minimove network;
  • Send 1 INIT to the Civitia network;
  • Don’t forget to feed the pet.

All information provided on this website is for educational and informational purposes only. Please consult with our Disclaimer.

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