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Is the Latest Proposal from Charles Hoskinson Prompting Cardano Whales to Offload ADA? Large investors in Cardano (ADA), known as "whales," have started to sell off significant amounts of the cryptocurrency, leading to notable volatility in its price. This behavior change was reported by crypto analyst Ali Martinez who revealed that over 270 million ADA, worth over $170 million, was sold by these entities in just a week. While geopolitical tensions can partly explain this sell-off, Charles Hoskinson's recent proposal to exchange $100 million worth of ADA for Bitcoin and stablecoins to boost the network's DeFi capabilities is also considered a potential reason. Despite mixed responses to his proposal, Hoskinson has denied that this move will lead to increased selling pressure on ADA, citing sufficient institutional demand to cover potential pressure.

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Amazon and Walmart Contemplate Introducing Their Own Stablecoins US retail giants Amazon and Walmart are reportedly looking into the launch of their own stablecoins, which could revolutionize online payments and help the companies save on transaction fees. The companies are considering creating branded coins or adopting external ones through a merchant-led consortium. The move could circumvent traditional financial systems, saving anywhere from 1% to 3% per card transaction, a significant amount for companies with high transaction volumes. The decision aligns with other e-commerce companies adopting stablecoin-based systems, like Shopify's plans to integrate USD Coin payments. However, the execution of these plans depends on the approval of the GENIUS Act, which aims to establish a clear regulatory framework for digital assets in the US. Major US banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are also discussing a joint stablecoin venture.

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Analyst Predicts Bitcoin's Value Could Drop Below $80K Due to Increasing Conflict and Major Holder Sales Bitcoin (BTC) has been struggling for over two months, with its value dropping below $75,000 during the global trade war initiated by former US President Donald Trump. Although political tensions have eased, recent geopolitical events such as Israel's Operation Rising Lion and Iran's retaliatory Operation Vow of Truth 3 have added to the uncertainty. This has directly impacted Bitcoin's price, with its value plunging from $108,500 to under $103,000 in a matter of hours following Israel's attack. Ali Martinez, a popular crypto analyst, warns that Bitcoin needs to maintain a six-digit price to avoid falling below $80,000. Furthermore, large Bitcoin holders, or 'whales,' have begun selling off portions of their holdings, potentially leading to increased selling pressure on Bitcoin.

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Sharplink Surpasses All Other Public ETH Holders with $462M Investment, Despite Stock Decline Sharplink Gaming recently made a significant investment in the crypto world, becoming the largest public holder of Ethereum (ETH) with a $462 million purchase. The company did this by setting up an Ethereum Treasury Reserve. The funding for such a purchase came from a $425 million private placement deal and a $79 million at-the-market equity offering, demonstrating Sharplink’s dedication to developing a robust crypto reserve. Despite the company's aggressive move into the Ethereum market, its stock faced significant volatility, dropping 12.25% to close at $32.50 and then further declining to $8 in after-hours trading. This dip came after Sharplink filed an S-3 registration with the SEC, indicating a potential resale of 58.7 million shares from a preceding private investment, which triggered selling due to dilution fears.

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Bitcoin ETFs Witness $1.07B Inflow in Four Days, Indicating Increased Institutional Interest Bitcoin Exchange-Traded Funds (ETFs) have seen a considerable inflow of over $1 billion in just four days, indicating a resurgence of institutional interest. The surge has offset previous outflows of $278.44 million and $47.82 million recorded on June 5 and June 6, respectively. This development comes amidst significant market changes due to Middle East tensions, which led to a $190 billion wipeout in total cryptocurrency market capitalization. Despite the market unrest, Bitcoin remains 1% higher than the previous week. Meanwhile, Ethereum ETFs have also experienced a consistent inflow for 19 consecutive days, even surpassing Bitcoin with a record $240 million in daily net additions on June 11. This trend may signal a shift in investor preference towards Ethereum amidst increasing regulatory optimism around decentralized finance and clarity around Ethereum's classification.

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