Welcome, Crypto enthusiasts!

Bitcoin’s 2% dip today is nothing to worry about as analysts insist that its a “blip” in the broader uptrend of the bull market.

In Today’s Blockstreet Journal:

• Bitcoin Holds Bullish Flag

• Ethereum Is Set To Explode

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🎏 Bitcoin Holds Bullish Flag 

Word On The Street: Bitcoin bulls have little to worry about regarding the BTC price uptrend. The movement of coins from wallets belonging to the defunct exchange Mt. Gox, which sparked a 2% BTC price dip overnight, does not warrant a rethink on market trajectory.

The details:

• “Movement of BTC from a Mt. Gox cold wallet this morning triggered a sell-off below $68,000,” analysts wrote.

• “However, these bouts of supply anxiety are likely to be blips in a broader trend higher into the end of the year.”

• “Crypto is seeing unprecedented political support in the US (a bill passed to create regulatory clarity for digital currencies, a positive turn by the SEC on the ETH spot ETF, Trump’s overt support with Biden likely to follow suit),”

Why it matters: QCP is not alone in seeing a bright second half of 2024 for BTC price action. Financial research firm Fundstrat Global Advisors is among the most bullish corporate entities regarding Bitcoin this year, predicting $150,000 per coin by year-end.

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Word On The Street: Since its launch in 2015, Changelly has established itself as a premier instant cryptocurrency exchange, serving millions and facilitating quick crypto transactions for over 2.6 million users monthly. Partnerships with industry leaders like Binance and secure wallets such as Trezor and Exodus, along with dedicated 24/7 Support team, enhance service and ensure user satisfaction.

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ETHEREUM
💣️ Ethereum Is Ready To Explode 

Word On The Street: Traders are pushing ETH closer to the $4,000 mark on May 27, with the altcoin registering a 3.5% gain for the day. TradingView shows strong performance from Ether, which rose from a low of $3,048 on May 20, climbing 27% to reach a 10-week high of $3,964 on May 27.

The details:

• Ether’s performance has been driven by the market’s anticipation of the approval of spot Ethereum ETFs in the United States.

• Despite ETH’s lackluster performance following the approval, the move toward $4,000 is viewed as significant.

• On-chain metrics provider CryptoQuant shows that ETH balance on exchanges has been decreasing over the last 12 months, reaching a six-year low of 13.58 million ETH on May 20.

Why it matters: The decreasing Ether balance on exchanges signifies traders’ adoption of long-term investment strategies, indicating increased confidence in the long-term potential and value of Ether.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.55T, a 1.54% decrease over the last day.

The total crypto market volume over the last 24 hours is $98.28B, which makes a 33.80% increase. The total volume in DeFi is currently $7.3B, 7.43% of the total crypto market 24-hour volume. The volume of all stable coins is now $92.36B, which is 93.98% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 52.43%, a decrease of 0.14% over the day.

Global Market Metrics

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

- Total Market Cap: $2,554,535,414,254

- Total 24h Volume: $98,385,134,609

- Bitcoin Dominance: 52.43%

- Ethereum Dominance: 18.13%

- DeFi Market Cap: $94,913,239,918

- DeFi 24h Volume: $7,305,869,638

- Stablecoin Market Cap: $154,914,878,311

- Stablecoin 24h Volume: $92,363,065,956

- Derivatives 24h Volume: $754,645,487,667

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Rain.Fi Lending Airdrop

Rain.fi is the first fully decentralized, P2P liquidity protocol for NFTs, giving users the ability to lend SOL/USDC/MSOL and finance mortgages. Projects can create a pool with SOL that they can integrate on their website to lend SOL to users.

Rain.fi doesn’t have their own token yet but could launch one in the future. They’ve introduced a points system where users could earn droplets for interacting with the platform. Users who earn droplets may get an airdrop if they launch their token.

Step-by-Step Guide:

• Visit the Rain.fi website.

• Connect your Solana wallet.

• You will need some SOL and/or other tokens.

• Click on “Borrow”, select the amount you want to collateralize and borrow tokens.

• You could also collateralize NFTs and borrow tokens.

• Also, go to “Lending” and lend some tokens.

• They have a points system where users can earn “Droplets” for lending and borrowing on the platform. Users can earn one Droplet for every ten dollars they spend on lending and borrowing.

• Users who earn “Droplets” may get an airdrop if they launch their token in the future.

Other News

Riot Platforms Pursues Takeover of Rival Bitcoin Miner Bitfarms. Riot Platforms Inc. made an unsolicited, $950 million offer to buy Bitfarms Ltd. after the smaller Bitcoin miner rebuffed its takeover approach last month.

Memecoins dominate crypto open interest charts taking 4 out of top 10 spots. Open Interest refers to the total amount of pending derivative contracts that have not yet been settled. In a futures contract, for every seller, a buyer is required to settle the contract.

Crypto Lending Firm Maple Finance Unveils Syrup Yield Platform and Rewards Token. Maple’s Syrup promises users yields of 15% by depositing Circle’s USDC stablecoin into the platform.

Caitlyn Jenner joins Rich the Kid alleging they were ‘scammed’. Caitlyn Jenner has seemingly acknowledged her connection with memecoin adviser Sahil Arora, alleging he “scammed” her, but says she will continue to invest in and promote the JENNER token.

🫡 Thanks For Reading

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