Welcome, Crypto enthusiasts!

Bitcoin gave up its gains from yesterday after a hawkish meeting from the Federal Reserve delaying rate cuts.

In Today’s Blockstreet Journal:

• Bitcoin Gives To Hawkish FED

• Galaxy Digital Loves Memes

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🦅 Bitcoin Gives To Hawkish FED 

Word On The Street: On June 13, Bitcoin retraced the previous day's gains as markets prepared for the upcoming United States inflation data release.

The details:

• After briefly reaching $70,000, the BTC/USD trajectory reversed following the daily close, resulting in new lows of $66,983 on Bitstamp.

• However, the Federal Reserve's continued restrictive stance on interest rates dampened the sentiment.

• This led to a reduction in market bets on a rate cut at the Fed’s September meeting by about 10%.

Why it matters: The analysis emphasized that maintaining support at $69,000 was crucial for Bitcoin to avoid printing a lower low and to eventually validate a resistance/support flip at that level.

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MARKET NEWS
🐶 Galaxy Digital Loves Memes 

Word On The Street: Galaxy Digital has reaffirmed his endorsement of memecoins, describing them as a "cornerstone" of the industry.

The details:

• Novogratz emphasized the lucrative potential of memecoins, stating they are among the "most powerful narratives" in the market.

• However, there is a divide in opinion, with many critics dismissing them as mere "silly casino chips."

• A report from Galaxy Digital countered recent criticisms, arguing that memecoins, aimed at wealth creation, are not just a passing trend.

Why it matters: While many may dismiss meme coins, they are here to stay.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.45T, a 3.26% decrease over the last day.

The total crypto market volume over the last 24 hours is $85.87B, which makes a 3.22% increase. The total volume in DeFi is currently $6.52B, 7.60% of the total crypto market 24-hour volume. The volume of all stable coins is now $80.69B, which is 93.97% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 54.33%, an increase of 0.04% over the day.

Global Market Metrics

As of now, the current state of the cryptocurrency market is as follows:

- Total Market Cap: $2,454,453,482,663.38

- 24-Hour Volume: $85,873,013,703.08

- Bitcoin Dominance: 54.33%

- Ethereum Dominance: 17.12%

Market Segments:

- DeFi Market Cap: $83,620,016,365.84

- DeFi 24-Hour Volume: $6,523,438,174.79

- Stablecoin Market Cap: $155,208,453,638.70

- Stablecoin 24-Hour Volume: $80,691,077,616.91

- Derivatives 24-Hour Volume: $678,082,736,671.61

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Beacon Quest Airdrop

The Beacon doesn’t have their own token yet but has confirmed to airdrop their token to the newly launched quest campaign participants. Sign up for the quest and complete simple tasks to earn points. Also, get points for referring your friends. The top participants will get a whitelist spot to mint the “Writ of Passage NFT”. Participants will also get a share of token airdrop based on ranks. An additional pool of 150k ARB tokens will also be distributed to the participants.

Step-by-Step Guide:

1. Visit the Beacon quest page.

2. Login with your Twitter account.

3. Now, start completing quests to earn Prestige Points.

4. Follow them on Twitter to get 100 points.

5. Create your account by connecting your wallet to get another 100 points.

6. You will get a bonus of 100 points for signing up with the above referral link.

7. Also, complete additional quests to earn more points.

8. You can also get 3% of the points from each referral.

9. The more points you collect, the higher the rank you can get.

10. The top participants will be able to secure a spot on the whitelist to mint the “Writ of Passage NFT”.

11. They don’t have a token yet, but they have confirmed that a small token allocation will be distributed among the different ranks.

12. A total of 150k ARB tokens will also be distributed to Phase one participants.

13. You can also unlock chests with your points to receive more rewards. The number of chests you can unlock is based on your points. Chests also contain medallions, and rarer medallions result in a larger token allocation.

14. You must complete the main quest line to enter the raffle for a Whitelist spot and become eligible for token allocation.

15. Phase one of the campaign will end on June 30th. Phase two and three will only be for Writ of Passage NFT holders, so secure your spot in the whitelist from Phase one to be eligible for future rewards.

16. Whitelist winners will be able to mint the Writ of Passage NFT  by late June/early July.

17. For more information regarding the campaign, see this article.

Other News

UwU Lend faces second hack during $20M reimbursement process. The UwU exploiter strikes again and steals $3.5 million from the lend protocol as it begins reimbursing hack victims.

CRV Slides 30% as Loans Tied to Curve’s Founder Face Liquidation Risk. Addresses tied to Curve founder Michael Egorov are borrowing nearly $100 million in various stablecoins against $140 million in curve tokens.

NEAR Foundation Forms Nuffle Labs With $13M in Funding. The spinout is aimed at advancing NEAR's modularity and bringing more decentralized development to the ecosystem.

Terraform Labs ends operations, Terra community takes over. Terraform Labs ceases operations after a $4.47 billion settlement with the SEC, transferring control of the Terra blockchain to the community.

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