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Blockchain insights: your weekly market beat

Tanja Nechet

News editor

Jun 26, 2024 at 06:08

Greetings, crypto warriors! 💥

⛵ Animoca plans to enter markets in Hong Kong or the Middle East

Animoca Brands is looking to enter the Hong Kong or Middle East market in 2025, Information reported.

The Web3 giant is considering options for a potential listing. The company has already held talks with investment banks, but has not yet hired an adviser.

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Famous games in the Animoca Brands portfolio:

  1. CryptoKitties 
  2. Power Rangers: Battle for the Grid 
  3. Power Rangers: Legacy Wars 
  4. Axie Infinity 
  5. Beast Quest 
  6. Pretty Pet Salon 
  7. RollerCoaster Tycoon 
  8. Star Girl 
  9. F1 Delta Time 
  10. The Sandbox

🪙 The U.S. will consider a bill to pay income tax in BTC

The U.S. congressman Matt Gaetz introduced legislation to require the U.S. Secretary of the Treasury to implement a program to allow federal income tax to be paid with Bitcoin. And, possibly, in other cryptocurrencies.

💱 Bybit exchange has become the second-largest crypto exchange in the world

Due to the launch of spot Bitcoin ETFs, Bybit has surpassed Coinbase in terms of share of trading volume to become the second-largest crypto exchange in the world. The first place is still occupied by Binance.

🌠 Will Bitcoin collapse to $50K?

Analysts at 10x Research are warning of a possible Bitcoin correction to $50,000 soon. It is possible that the fall could be even more severe.

🤡 Rapper “Playboi Carti” fooled everyone

Playboi Carti is known for always postponing the release of his new album due to constant leaks. This stereotype has stuck to him, and that’s what scammers took advantage of.

Last week, scammers created an X account with the nickname “Carti on Solana.” There they posted an excerpt of his leaked track and started soliciting to buy the CARTI token.

They promised new music material for capitalization:

  • $300K – an excerpt
  • $500K – a whole track.
  • $700K for an excerpt.
  • $1M – a whole track.

And so, when the asset reached capitalization of $700K, a rug pool took place – the developers sold all their tokens. What a surprise!

🔑 Key crypto market highlights (June 26-July 3)

💵 Ideas

[1] 🔔Participate in Mantle’s Methamorphosis campaign

On July 1, Mantle is launching the Methamorphosis campaign to introduce us to the new cmETH and COOK tokens. The campaign can collect mETH from partner protocols and accumulate Powder for a future upgrade to cmETH (future LRT). Powder will be convertible into COOK (new management token). 

Known details: 

  • cmETH marks the next phase of Mantle LSP development with a new LRT token representing the ”meth” amorphosis from mETH;
  • COOK will be the new management token for the Mantle LSP;
  • Holders of mETH will receive additional returns and giveaways from partners;
  • COOK tokens will also be available for $MNT staking at the Mantle Reward Station;
  • more details will be available when the campaign launches.

[2] 🔔 Deep, down and low…

On June 25, the price of Bitcoin (BTC) dropped significantly to around 58,450. However, it bounced back strongly, reaching a high of about 61,600. Currently, digital gold is facing resistance and is starting to fall again.

According to q4yrf4 analysis, BTC is clearly in a downward trend. The price has fallen below the 50-day moving average, and the 10-day moving average has crossed below the 20-day moving average, creating a pattern known as a “death cross.” Now, it’s important to watch the 61,600 resistance level. If the price can’t break above $61,600, it will likely continue to go down.

Suggestion: if the BTC hits resistance between $61,000 and $61,600, consider selling, with a target between $59,500 and $60,000.

On June 26, BTC fell below it after breaking through the $61,600 resistance level. The strength of the rebound has weakened, making it unlikely for the price to reach a new high. 

*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] 🔔 Blast airdrop details 

In a couple of hours, we will see the payoff for those who have been working on the hippest and fastest-growing blockchain on TVL.  

Blast’s branding is scheduled to start at 2 p.m. UTC, the claim page is at this link. Listings on Bybit, Gate (3 P.M. UTC), Upbit – 2 P.M. UTC, and other exchanges are scheduled for 18:00 MSC (times may be rescheduled).

Contract address: 0xb1a5700fA2358173Fe465e6eA4Ff52E36e88E2ad


  • The total token supply, BLAST 100B, will be 17B at launch;
  • 50% allocated to the community, 25.5% to core contributors, 16.5% to investors, and 8% to Blast Foundation;
  • airdrop Phase 1 is allocated 17%, of which 7% is allocated to Blast Gold, 7% to points, and 3% to Blur users.

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