🪙 Michael Saylor's MicroStrategy purchased another 11,931 BTC for $786 million at an average price of $65,883
As of June 20, the company holds 226,331 Bitcoin, with an average purchase price of $36,798
MicroStrategy was founded in 1989 and initially developed software for business, and in August 2020 it bought the first batch of BTC for $250 million, then it was for the purpose of diversifying capital
🔶 Binance from July 1st will stop support for Ocean Protocol (OCEAN) and SingularityNET (AGIX). Why don’t tokens fall in price?
The fact is that OCEAN, AGIX and FET (Fetch.ai) are united and merged into the ASI token - Artificial Superintelligence.
Back in March, it was announced the creation of a single token that would combine the following infrastructures:
1️⃣ Fetch.ai: Autonomous economic agents (machine learning programs that autonomously interact with various industries, from the Internet of Things (IoT) to investment management)
2️⃣ SingularityNET: Platform for creating, sharing and working with AI models, something like GitHub, but narrowly focused, with an emphasis on artificial intelligence
3️⃣ Ocean Protocol: An analogue of a marketplace for AI training, where almost everything is sold: from financial data and market analysis tools to scientific reports and clinical studies
FET tokens will be automatically converted at a 1:1 ratio to ASI, and OCEAN and AGIX at a rate of 1:0.433
Preliminarily, the total market capitalization of the new token will be $2.631 billion
0️⃣ LayerZero has updated the application mechanism for airdrop of ZRO tokens. Now you need to pay under the “Proof of Donation”
To receive their ZRO, the user must donate 10 cents in USDC, USDT or ETH for each token received
LayerZero Foundation plans to raise $18.5 million in this way for collective funding of Ethereum developers
Anyone who wants to withdraw their ZRO (price of 1 token ≈ $2.8) will have to make a donation.
All unclaimed tokens with a September 20 deadline will be redistributed to LayerZero's core users
🟢 Founder of the venture fund DeFiance Capital Arthur Chong expressed his opinion on the future of the crypto market
Its key points are as follows:
1️⃣ The crypto market has reached the stage of “maturity”, and there will not be such sharp fluctuations ahead as before, when drawdowns of 80% occurred every 2 years. We are now facing a period of slow but steady growth, similar to the US stock market after 2008, which was either sideways or rising
2️⃣ But not all stocks are rising, and growth in the S&P 500 and Nasdaq Composite indices is mainly driven by gains in the largest stocks such as Nvidia, Microsoft and Alphabet (Google), while smaller firms do not always attract the same interest. Applying this logic in the context of the crypto market, only large coins and a small number of altcoins will increase in price
I’ll add on my own that the cost of any crypto does not depend on the performance of the “company,” as the SEC likes to put it, but depends on hype, publicity and maintaining community involvement (in the case of memcoins) and on practical application (SOL began to grow ➡️ users began to become interested blockchain ➡️ migration of new memcoins from Ethereum to Solana ➡️ use of SOL to pay commissions ➡️ influx of free capital into the coin)
📉 Could selling just 5% of the monthly unlocked tokens cause the price to drop by 50%? - Yes.
hitesh.eth noted that if investors decide to sell, for example on Binance, 5% of the tokens allocated to them monthly, market depth and liquidity will not cope with the dump
📍 Let's take Optimism: The next unlock - in which 31.34 million OP will be released - is in a week; market depth on the largest exchange (that is, total demand) - 2.8 million OP; if 1.5 million OP (5%) is sold, the price may fall by 67%
Of course, this is a crazy scenario that investors are unlikely to agree to - selling in one transaction. Most likely, different exchanges will be used, sales in small parts over a long period of time, OTC markets, cooperation with MM.
But the very fact is that the depth is not enough even to absorb 5% of the monthly unlocked tokens.
Although, as practice has shown, even fake news about the “sale of SpaceX bitcoins” was enough to dump the BTC price by 12%
🔷 Yesterday, a massive filing of S-1 forms by companies for the ETH ETF with the SEC was noticed
BlackRock has already submitted its documents, but details of fees have not been provided, which means we are awaiting a second round of comments
VanEck has set its annual fee at 0.20%
Fidelity – no management fee specified
21Shares (worked with Ark Invest) also did not disclose the size of the commission.
Grayscale, which runs a 2.5% ETH trust that will be converted into an ETF, did not disclose fees