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- šļø The Big Week is Here
šļø The Big Week is Here
PLUS let's check the important TGE events for June!
š Market commentary.
GM, welcome to the Big Week.
Despite ETFs gobbling up record-breaking numbersālast week alone, they devoured two months' worth of freshly mined Bitcoinsāāthe market is currently in a bit of a conundrum. Last Friday, we talked about a possible stalling point at a price of just over $71,000 BTC that, if materialized, will take Bitcoin back lower before the next attempt to break through.
According to the latest Eric Krown analysis, the area to watch for the next higher low is around $64-65,000. In the meantime, brace yourself for more market chop before the likely (and hopefully) final dip.
The macro side of things is adding to the choppy outlook. For one, weāre seeing DXY reclaim its bullish posture. The market is also holding its breath for Wednesdayās US inflation data and Jeromeās FOMC spectacle the next day.
To top it all off, this little wipeout makes sense, considering the magnitude of last week's Roaring Kitty livestream. Retail investorsā share of options activity just smashed a record high of 18%, surpassing the 2021 memecoin mania peak.
Whatever unfolds in the coming weeks, keep your eye on the bigger picture. History shows us that the real bull market still awaits, and itās really important not to fuck this up right before the real season.
Stay safe, homies.
š„ Degen corner.
Big TGE Week (and Month)
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Hereās hoping the price action heats up because June is packed with massive and long-awaited token launches. Letās dive into the most intriguing ones:
Tapioca is poised to become a DeFi behemoth. The TAP token is coming out June 11-13th, the same time as the Compound launch during 2020, right before DeFi summer. Coincidence?
The IO token generation event is coming up tomorrow, June 11th, alongside the Binance launchpool and listing. Io.net aims to become one of the main players in the cloud GPU and CPU arena, and it is especially interesting for those who have read our past newsletters and airdrop guides.
ZkSync might be the longest airdrop ever farmed in the history of crypto. A few hours ago, ZkSync published a blog post titled āIntroducing ZK Nation,ā detailing its plans for community governance (meaning token launch).
Watch the official channels; this week should be packed with news. Last week's newsletter also has more info about ZkSyncās ecosystem.
Blastās token should finally come out in June, although no precise date has been given yet.
Considering the aforementioned TAP token generation event and Tapioca's aim to become de facto the āunstoppable omnidollar ecosystem powered by Layer Zero,ā it would only make sense to see the ZRO token come out by the end of June, too.
The prediction markets agree with this stance, betting on an 83% chance of exactly this outcome.
š DeFi insights.
The important bits.
Aperture Finance (AI Intents) - Now live on Base - read
io.net (GPU, AI) - CEO announces stepping down - read
Zilliqa (L1) - Releases V2 and new whitepaper - read
PUPS (Runes) - 24 hours to claim PUPS from Rune Pups NFT - read
Retardio Cousins (NFT) - Holders get access to Legion investments - read
MaskNetwork (L1) - Introduces staking Season 1 - read
Polkadot (L1) - Introduces One Frequency - read
Injective (L1) - Restructures tokenomics - read
š° DeFi news.
Even more important bits.
Norway government returns $5.7M stolen funds related to Ronin hack - read
Bakkt exploring potential takeover, breakup - read
Loopring smart wallets got hacked - read
Iggy Azalea relaunches her telecommunications company - read
Binance surpassed 200 million users - read
The US Treasury yield curve has been inverted for 702 days - read
š« ICYMI.
Life gets busy so hereās what youāve missed.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/48c54527-aeb0-4946-82b0-a7404ea9e828/a2450563-0aef-4acb-bf4d-75a533a2ea9f_2040x1138.jpg?t=1719312291)
What Happened Last Week in Crypto? Emiri Checkinā in From the Pub
Article
Emiri Checkinā from the pub will be a normal Friday occurrence from now on. Highly recommended reading!
š„ Tweet of the day.
To save you doom scrolling.
How did we end up here exactly? Recommended watch.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/95c91d02-08af-49d1-848b-94a4207ecc99/7af4ad57-16bd-44cc-8c63-80c81d6290a4_790x600.jpg?t=1719312292)
š¦ And finallyā¦
I am once again reminding you that Berachain is coming. Things are starting to boil, and today, we received an announcement of Berachain's Public Testnet bArtio B2 release. It might be a hot Bera summer indeed, plus certain sauces say the full release will come in Q3 as well.
Ooga Boogas will hit the timeline soon enough.
If you havenāt alreadyā¦ hit the subscribe button and get the coolest welcome email in crypto!
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