Welcome, Crypto enthusiasts!

Bitcoin is cooling off with inflation, which is odd for most traders.

In Today’s Blockstreet Journal:

• Bitcoin Cools With Inflation

• Hamster Kombat Takes Over

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🥶 Bitcoin Cools With Inflation 

Word On The Street: Investors’ risk appetite tends to increase with lower capital costs and higher liquidity, creating a favorable scenario for high-growth assets. However with inflation cooling, so is bitcoin!

The details:

• Recent figures from the Federal Reserve’s preferred inflation indicator revealed a deceleration in inflation for May.

• Earlier in the year, market traders had anticipated at least three interest rate reductions; current projections have adjusted to only two.

• The most recent U.S. inflation data, along with a 4% unemployment rate and personal income growth, led the S&P 500 to reach an all-time high on June 28.

Why it matters: Theoretically, cryptocurrencies should benefit from the prospect of interest rate cuts and other expansionary measures due to their scarcity and non-censurable payment methods.

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MARKET NEWS
🐹 Hamster Kombat Takes Over 

Word On The Street: In the tech world, reaching 150 million users is an exclusive milestone achieved only by the most successful platforms. This makes the rapid rise of Hamster Kombat one of the most intriguing stories of 2024.

The details:

• Hamster Kombat is described as a “crypto exchange CEO simulator” rather than a traditional “clicker” or “tapper” game.

• Players start as bald hamsters who sign contracts as CEOs of cryptocurrency exchanges.

• The primary game mechanic involves tapping on the hamster avatar to earn virtual coins, but players can also purchase upgrade cards for their exchange, such as licenses in new jurisdictions or listing new trading pairs.

Why it matters: Hamster Kombat’s rise to fame showcases the potential of AI-driven games in the modern digital landscape. By combining engaging gameplay, educational content, and strategic use of social media, Hamster Kombat has set a new standard for the gaming industry.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.26T, a 0.21% decrease over the last day.

The total crypto market volume over the last 24 hours is $44.82B, which makes a 24.66% decrease. The total volume in DeFi is currently $3.54B, 7.91% of the total crypto market 24-hour volume. The volume of all stable coins is now $41.54B, which is 92.68% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.22%, an increase of 0.22% over the day.

Global Market Metrics

The current state of the cryptocurrency market is as follows:

- Total Market Cap: Approximately $2.26 trillion

- Total 24h Volume: $44.82 billion

- Bitcoin Dominance: 53.22%

- Ethereum Dominance: 18.02%

- DeFi Market Cap: $73.16 billion

- DeFi 24h Volume: $3.54 billion

- Stablecoin Market Cap: $154.62 billion

- Stablecoin 24h Volume: $41.54 billion

- Derivatives 24h Volume: $387.06 billion

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Summer.fi Airdrop

Summer.fi has introduced a points system to its users. The snapshot of all Summer.fi users and wallets that could be eligible for the points campaign was taken on June 18, 2024. Follow the steps below to know how you can earn free RAYS.

Step-by-Step Guide:

1. Visit the Summer.fi website.

2. Connect your wallet.

3. Click on claim RAYS. You will be able to claim RAYS if you are eligible.

4. The snapshot of all Summer.fi users and wallets that could be eligible for the points campaign was taken on June 18, 2024.

5. All non-summer users who are eligible for RAYS will have to open a position of $500 and keep it open for more than 14 days before September 20, 2024.

6. Active wallet owners receive 100 $RAYS for owning a non-custodial wallet on Mainnet, Arbitrum, Optimism or Base with at least 0.2 ETH.

7. DeFi users receive 200 $RAYS per protocol for having an active position on a supported protocol and network.

8. Summer.fi Users receive 500 $RAYS for each protocol they have ever interacted with through Summer.fi since June 2021.

9. You can also earn RAYS by using Summer.fi supported protocols by Borrowing, Earning, or Multiplying.

10. Open any Borrow, Multiply, or Earn position to get $RAYS.

11. $RAYS accrue per $ managed per second, which means a base rate of approximately 690 $RAYS per $10k per year.

12. Positions with less than $10k net value will earn less than the 690 $RAYS per $10k per year.

13. You can also earn free RAYS for inviting your friends.

Other News

Mt. Gox to Begin Repayments in July; BTC Slides Under $61K. The defunct crypto exchange is supposed to return over 140,000 bitcoin to victims of the 2014 hack.

Court allows most SEC claims to proceed in Binance suit. Judge Amy Berman Jackson, however, dismissed the SEC’s claim that BNB is traded illegally on secondary markets, citing the Ripple decision.

SEC Sues Consensys Over MetaMask Staking, Broker Allegations. The SEC alleged that MetaMask acted as an unregistered securities broker and that its staking service violated securities laws.

IRS reveals final regulations for crypto broker rules. The Internal Revenue Service did not include decentralized exchanges or self-custodial wallets under its broker reporting requirements.

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