Welcome, Crypto enthusiasts!

US Bond traders are excepting rate cuts in November leading to a boost in BNB pricing while Warren Buffet is down 99% compared to Bitcoin.

In Today’s Blockstreet Journal:

• US Bonds Yields Boost BNB

• Warren Buffet Down 99% To BTC

• Market Rundown

• Top Gainers & Losers

• Airdrops More News

Latest News

ALT COINS
📈 US Bond Yields Boost BNB  

Word On The Street: The recent gains in BNB and the overall crypto market have coincided with a decline in U.S. bond yields.

The details:

• The yield on the benchmark U.S. 10-year Treasury note (US10Y) fell to 4.332% on June 4, down from 4.63% five days earlier.

• During this same period, BNB's price surged by over 20.75%, demonstrating a clear negative correlation with bond yields.

• Slowing inflation have led bond traders to move up their expectations for the Federal Reserve's first full 25 basis-point rate cut to November.

Why it matters: This coincides with the price testing its 1.618 Fibonacci retracement line at around $708 as resistance, indicating a potential correction toward the 1.00 Fib retracement line at approximately $630, down by about 11.50% from current levels in June.

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MARKET NEWS
📉 Warren Buffet Down 99% To BTC 

Word On The Street: Berkshire Hathaway’s stock has dramatically underperformed compared to Bitcoin since 2015, plummeting from around 1,000 BTC to just 9.15 BTC in value.

The details:

• This stark contrast highlights Bitcoin’s impressive performance against Berkshire Hathaway and its top stock holdings.

• Despite Buffett’s skepticism, Bitcoin has become one of the most valuable assets globally.

• As of June 4, Bitcoin’s market capitalization was approximately $1.36 trillion, making it the ninth-largest asset by valuation.

Why it matters: Bitcoin's valuation is expected to rise in the coming months and years as it increasingly positions itself as an alternative safe haven to gold, which has a market cap of $15.8 trillion.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.62T, a 1.46% increase over the last day.

The total crypto market volume over the last 24 hours is $92.63B, which makes a 23.95% increase. The total volume in DeFi is currently $6.96B, 7.51% of the total crypto market 24-hour volume. The volume of all stable coins is now $86.87B, which is 93.78% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.16%, a decrease of 0.03% over the day.

Global Market Metrics

As of June 5, 2024, the current state of the cryptocurrency market is as follows:

- Total Market Capitalization: $2,623,817,300,063

- Total 24-Hour Volume: $92,634,811,327

- Total Active Cryptocurrencies: 10,046

- Total Active Market Pairs: 82,754

- Total Active Exchanges: 774

Dominance

- Bitcoin (BTC) Dominance: 53.16%

- Ethereum (ETH) Dominance: 17.39%

Market Segments

- DeFi Market Cap: $95,646,959,191

- DeFi 24-Hour Volume: $6,969,084,966

- Stablecoin Cap: $154,975,882,596

- Stablecoin 24-Hour Volume: $86,871,242,788

- Derivatives 24-Hour Volume: $706,705,253,182

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ GM Network Airdrop

GM Network has confirmed to launch the “GM” token and do an airdrop to users who collect GN points. Join the points campaign and complete simple tasks, such as daily check-ins and social activities, to earn GN points. Also, earn more points from each referral. The GN points will be converted to GM tokens after the token goes live.

Step-by-Step Guide:

1. Visit the GM Network campaign page.

2. Connect your Ethereum wallet.

3. Now enter the invite code “S6Y0OT” and confirm.

4. Now go to “Missions” and complete tasks to earn GN points.

5. You can earn GN points for checking in daily, completing social tasks, and purchasing products on Launchpad.

6. Also earn more GN points for referring your friends.

7. They have confirmed the launch of their token “GM.” Users who collect GN points will be able to get GM tokens once the token goes live.

8. For more information regarding the campaign, see this Medium article.

Other News

Trump Reaches $30M Because People Keep Sending Meme Coins. Donald Trump's crypto wallet has swelled to a $30 million after the Trog (Trump Frog) team airdropped him half the meme coin's supply.

BNB Chain Ecosystem Heats Up as Token Hits Lifetime High Above $710. Trading volumes of ecosystem tokens more than doubled in the past 24 hours, with meme coin FLOKI leading gains among larger tokens.

UAE central bank approves licensing system for stablecoins. KARM Legal Consultants founder Kokila Alagh said that the regulations clarify the issuance, licensing and supervision of dirham-backed payment tokens.

Biden Urged to Act as Lawmakers Fear for the Life of Detained Binance Exec in Nigeria. Binance and Gambaryan are facing money laundering and tax evasion charges in the country.

🫡 Thanks For Reading

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