Welcome, Crypto enthusiasts!

Traders are blaming the recent dip on the Mt. Gox Bitcoin reimbursements but some stay optimistic as the Ichimoku Cloud gives hope.

In Today’s Blockstreet Journal:

• Bitcoin’s IC Bounces Back

• Solana Use Continues To Grow

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🇯🇵 Bitcoin’s IC Bounces Back 

Word On The Street: Bitcoin sought a rebound into the July 5 Wall Street open as the market processed the commencement of Mt. Gox reimbursements.

The details:

• The latest weekly candle added pressure to the bull market from the perspective of the Ichimoku Cloud indicator.

• At $56,150, the price fell below the Kijun Sen trendline on weekly timeframes, with the weekly candle sandwiched between it and the upper trendline, Tenkan Sen.

• Market observers attributed it to the start of transfers from wallets associated with the Mt. Gox rehabilitation proceedings.

Why it matters: A close below Kijun Sen on monthly timeframes would necessitate a reassessment of the overall bullish market structure.

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ALT COINS
📈 Solana Use Continues To Grow 

Word On The Street: Despite the recent downturn, Solana is showing strong growth compared to other Ethereum competitors.

The details:

• Over 30 days, Solana accumulated $49.3 million in fees, with its top DApps generating $83.7 million.

• In comparison, Ethereum's fees totaled $131.8 million, with leading DApps contributing $160.9 million.

• Solana ranks second in weekly DEX volumes, with $7.2 billion, and has shown growth in deposits.

Why it matters: Fees are a crucial metric for blockchain networks and DApps, as they generate revenue for security and yield, which in turn incentivizes deposits and token lockup. They are an essential indicator of the health and sustainability of cryptocurrencies.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.07T, a 2.76% decrease over the last day.

The total crypto market volume over the last 24 hours is $130.54B, which makes a 38.91% increase. The total volume in DeFi is currently $8.91B, 6.82% of the total crypto market 24-hour volume. The volume of all stable coins is now $123.43B, which is 94.55% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.94%, an increase of 0.33% over the day.

Global Market Metrics

Current State of the Crypto Market

- Total Market Capitalization: $2.07T

- 24-Hour Trading Volume: $130.54B

Dominance:

- Bitcoin (BTC) Dominance: 53.94%

- Ethereum (ETH) Dominance: 17.43%

Sectors:

- Total DeFi Market Cap: $63.72B

- 24-Hour DeFi Trading Volume: $8.91B

- Total Stablecoin Market Cap: $154.86B

- 24-Hour Stablecoin Trading Volume: $123.46B

- 24-Hour Derivatives Trading Volume: $1.05T

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
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3. Click on the Hot air balloon button on the lower right-hand side to launch the airdrop section.

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5. The more tasks you complete and the more points you earn, the bigger your airdrop allocation will be.

6. You can also invite your friends to earn free points.

Other News

Hamster Kombat hits 239M users in 81 days. Telegram founder Pavel Durov says Hamster Kombat’s viral success could onboard over 200 million people to blockchain technology.

U.S. Crypto Stocks Sink in Pre-Market Trading as BTC Slumps. Bitcoin traded around $54,400 in Europe, a 24-hour drop of 5.8%, having earlier fallen to the lowest level since late February

Up to 99% of Mt. Gox’s $8.2B Bitcoin could be sold. Nearly all of Mt. Gox’s former creditors might be looking to sell their Bitcoin, which has increased by over 8,500% in value in the 10 years since the exchange’s collapse.

U.S. Added 206K Jobs in June as Unemployment Rate Rose. Bitcoin dipped a hair on the news but prices had already crashed over the past 48 hours as markets dealt with a crush of new supply.

🫡 Thanks For Reading

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