Welcome, Crypto enthusiasts!

Bitcoin & crypto is currently experiencing the normal “Pre-Inflation” shakeout as traders wait for CPI numbers report tomorrow.

In Today’s Blockstreet Journal:

• Bitcoin Pre-Inflation Shakeout

• Crypto.com Approved In Ireland

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🫠 Bitcoin Pre-Inflation Shakeout 

Word On The Street: Bitcoin dropped below $67,000 as the Wall Street session opened on June 11, experiencing a classic pre-inflation report decline.

The details:

• Bitcoin had been declining for almost 24 hours straight, unable to reverse the trend as markets prepared for a significant influx of U.S. macroeconomic data.

• "Getting closer to support. Will be looking to enter longs if a reversal presents itself," popular trader Roman told his followers on X.

• Others urged calm amid the rangebound price action, with Bitcoin consolidating below all-time highs for nearly three months.

Why it matters: Market observers issued a note of caution regarding open interest (OI) in derivatives markets, which hit new all-time highs in June, surpassing $37.6 billion—a classic warning signal for BTC price volatility.

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MARKET NEWS
🇮🇪 Crypto.com Approved In Ireland  

Word On The Street: The Central Bank of Ireland has granted approval to another exchange, Crypto.com, as a virtual asset service provider (VASP).

The details:

• Crypto.com, one of the world's leading crypto trading platforms, announced on June 11 that it had received VASP approval in Ireland.

• This approval allows Crypto.com to expand its services in the country, including crypto-to-fiat exchanges and fiat wallets.

• With this approval, Crypto.com joins several other crypto firms regulated by Ireland's central bank.

Why it matters: Other major companies, including Ripple and Gemini, have also been solidifying their presence in Ireland while facing issues from U.S. regulators.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.44T, a 3.83% decrease over the last day.

The total crypto market volume over the last 24 hours is $86.48B, which makes a 54.52% increase. The total volume in DeFi is currently $6.07B, 7.02% of the total crypto market 24-hour volume. The volume of all stable coins is now $81.1B, which is 93.77% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 54.17%, an increase of 0.07% over the day.

Global Market Metrics

Current State of the Cryptocurrency Market:

- Total Market Cap: $2,444,454,625,817

- 24-Hour Trading Volume: $86,486,030,676

- Active Cryptocurrencies: 10,081

- Active Market Pairs: 82,649

- Active Exchanges: 781

Dominance:

- Bitcoin (BTC) Dominance: 54.17%

- Ethereum (ETH) Dominance: 17.34%

DeFi (Decentralized Finance):

- DeFi Market Cap: $82,747,323,792

- DeFi 24-Hour Volume: $6,070,223,170

- DeFi 24-Hour Volume Change: +11.99%

Stablecoins:

- Stablecoin Market Cap: $154,977,080,209

- Stablecoin 24-Hour Volume: $81,104,023,956

- Stablecoin 24-Hour Volume Change: +51.16%

Derivatives:

- Derivatives 24-Hour Volume: $650,609,063,610

- Derivatives 24-Hour Volume Change: +61.82%

Top Gainers & Losers

🚀 Top Gainers

 💩 Top Losers

Airdrops & More News

DAILY AIRDROP
📦️ Nexis Network Airdrop

ZkSync has finally confirmed its much awaited ZK token and airdrop. In a recent blog post, the team behind ZKsync broke the silence, ending speculation on the eligibility and details of the airdrop.

The much-awaited ZK token will have a token supply of 21 billion. 17.5% of the tokens (3.675 billion ZK) will be airdropped to all eligible participants. 67% of the total ZK supply is kept aside for the community.

A total of 695,232 wallets are eligible for the airdrop, and 3.675 billion ZK tokens will be airdropped without any vesting or lock up periods.

Step-by-Step Guide:

1. Visit the ZKsync airdrop claim checker page.

2. Connect your wallet or submit your GitHub username to check eligibility.

3. If you are eligible for the airdrop, you will be able to see the number of tokens that you have received.

4. A total of 695,232 wallets are eligible for the airdrop.

5. For usage-based airdrop, each eligible wallet can receive a minimum of 450 ZK and a maximum of 100,000 ZK tokens.

6. Eligible users of contribution-based airdrop could receive additional allocations.

7. Eligibility and allocations for the airdrop were based on the snapshot taken on March 24th, 2024, at 0:00 UTC, which was the one-year anniversary of the ZKsync era mainnet launch.

8. Eligible users will be able to claim their tokens starting next week until January 3, 2025.

9. For more details, visit this official airdrop announcement.

10. The official airdrop announcement clarified that “two-thirds (~67%) of ZK will go to the community.17.5% of the overall supply will be distributed through a one-time airdrop. The rest will be distributed over time, through ecosystem initiatives, managed by the ZKsync Foundation, and the ZK Nation governance process, to support a growing ecosystem as new users come onchain.”

11. Therefore, some potential qualifiers for future airdrops could be: i) HODL your original allocation and delegate all of your claimed ZK tokens to governance, ii) continue transacting regularly on ZkSync (especially providing liquidity to DeFi protocols), iii) try to become a power user of one of the top dApps, and iv) turn on notifications for the ZKsync and ZK Nation accounts on X to monitor for updates and act on anything that they mention or highlight.

Other News

Tether Expects to Invest Over $1B in Deals in the Next Year. Tether's focus for investment is financial infrastructure, AI and biotech, CEO Paolo Ardoino said in an interview.

Crypto the ‘hardest thing’ in software history. Consensys CEO Joseph Lubin told Cointelegraph that crypto might be the “hardest thing” in software history in terms of potential threats, vulnerabilities and complexity.

Polygon Creates New Grants Program, 1B POL Unlocked Over 10 Years. The program will tap into funds made available by Polygon’s Community Treasury, and the team shared that roughly 100 million POL tokens will be given out each year.

Australia cracks down on online gambling with crypto, credit card ban. The government warned betting companies that failing to comply with the new rules could result in a fine of up to 234,750 Australian dollars ($155,000).

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