The first line|The encryption market tends to stabilize; Solana Layer 2 project Sonic raises funds with a valuation of $100 million; Consensys plans to sue the SEC; LayerZero opens qualification check for token airdrops
Crypto World Daily Digest: Solana Layer 2 project Sonic raises funds at a valuation of $100 million; Consensys plans to sue the SEC; LayerZero opens eligibility check for token airdrops
On Wednesday, the US market was closed, with no Bitcoin ETF-related trading activities.
Solana Layer 2 project Sonic raised funds with a valuation of 1 billion USD
Solana Layer 2 network Sonic, focused on gaming, raised $12 million in Series A financing. Sonic announced on Tuesday that the round was led by Bitkraft Ventures, with participation from Galaxy Interactive, Big Brain Holdings, and others. Sonic founder and CEO Chris Zhu said the project started fundraising in April and concluded earlier this month. This round of financing is structured as equity and comes with token warrants, bringing Sonic's fully diluted valuation to $100 million.
Sonic was originally a mobile game, but the project later realized the lack of game infrastructure and developed the unique HyperGrid Framework technology - achieving horizontal scalability through aggregation on Solana, enabling Sonic to provide extremely fast on-chain gaming experience at the lowest cost.
Sonic is now on-line on the development network, and the first five game studios are using its technology to develop games. An incentive test network activity called "Odyssey" will be launched later this week, and users can obtain "rings" through on-chain activities. Although the rings will not be directly converted into Sonic tokens, contributors will be rewarded in some way.
In addition, Sonic provides a subsidy and acceleration plan for game developers, with a total amount of 20 million dollars, including token subsidies, token exchange transactions, and stablecoins or fiat currency. Sonic's Mainnet and its own tokens are expected to be launched in the third quarter of this year.
Consensys plans to file a lawsuit against the U.S. Securities and Exchange Commission
Due to the fact that the US Securities and Exchange Commission (SEC) classified Ethereum as a financial security, Consensys filed a lawsuit in April. Although the SEC has ended its investigation into Ethereum 2.0, Consensys still plans to continue the lawsuit.
Consensys founder Joseph Lubin said the lawsuit aims to seek more legal clarity for the cryptocurrency field. Consensys said in a statement on Tuesday that the end of the SEC investigation was a "significant victory" for the industry, indicating that the agency will no longer bring securities trading charges against the sale of Ether.
LayerZero is open for token airdrop qualification check
Cross-Chain Interoperability platform LayerZero announced an upcoming Token Airdrop and launched a qualification check tool. LayerZero Labs raised $120 million in Series B financing, with a valuation of $3 billion. To prevent Sybil Attack from creating multiple fake accounts and unfairly obtaining more free tokens, LayerZero strengthened its anti-Sybil strategy in the weeks leading up to the airdrop distribution date.
LayerZero Labs CEO Bryan Pellegrino stated that users can use tools to check if they are eligible for the airdrop and to get a summary of user activities. A total of 1.28 million wallets are eligible. The remaining funds will be distributed over the next 36 months, with an additional retrospective allocation every 12 months, and also providing some forward-looking request for proposal (RFP) to builders.
Details of the airdrop announced last weekend show that 23.8% of the total supply of 1 billion tokens will be directly distributed to the community and builders. Pellegrino stated that on the first day of distribution, 8.5% of the allocated supply will be distributed to the community.
Market Trend
BTC: Consolidating around $65,000, currently in a relatively stable state.
**ETH：**This morning, it once approached $3,600, and is currently adjusting around $3,540; The ETH/BTC exchange rate continues to strengthen, showing ETH's strong performance relative to BTC.
AltCoin: After experiencing a 30% decline, it generally rebounded, and market sentiment has somewhat recovered.
Macroeconomics
US stock market closed today, which may reduce market volatility and impact the volume.
Market Hotspots
AI zone
FET, AGIX, OCEAN, PHB and other oversold rebounds.
2. FET, AGIX, and OCEAN announced a merger to form ASI, and the tokens have been in a downtrend ever since. ASI was initially scheduled to go live on June 13, but it has been delayed to July 15. Binance has announced its support for the merger. This integration may bring long-term market attention, but short-term market sentiment remains cautious.
Cross-chain bridges protocol Layer Zero announced airdrop
The current over-the-counter price of ZRO is $4, with a project valuation of approximately $4 billion, while the Wormhole token W in the same track has a market capitalization of $3.5 billion. The airdrop return rate of ZRO is approximately 120%. If a user interacts with $100, they can receive an airdrop of ZRO tokens worth approximately $120, with an overall low return rate.
Meme zone
TURBO, MAGA and other performances are impressive, with daily gains exceeding 30%. TURBO is a frog-themed Meme token in the Ethereum ecosystem, while MAGA is a token related to the U.S. presidential election concept.
The high volatility and high risk of the Meme zone require investors to remain vigilant, but at the same time, it also provides opportunities for high returns in the short term.
Overview
The current market is relatively stable under the leadership of BTC and ETH, but the trends in specific zones show different opportunities and risks. AI, Meme, and the US election concept may still be hot topics for speculation in the near future. Investors should choose suitable investment opportunities based on their risk tolerance and investment strategies, and keep a continuous follow on market trends.
Macro: Asian stock markets remain at high levels, China keeps the benchmark lending rate unchanged; actions of the Bank of England are closely watched
On Wednesday, the US stock market was closed and the market was relatively flat. In early trading on Thursday, Nasdaq futures, which have a higher proportion of technology stocks, rose 0.25%.
On Thursday, June 20th, Asian stock markets opened near their highest level in two years as traders awaited more clues about US policy. The MSCI Asia Pacific Index was largely unchanged at 572.97, slightly below the two-year high of 573.38 reached on Wednesday. The index is expected to rise by 4% in June. The Japanese Nikkei Index fell 0.63%, the Chinese blue-chip stock index fell 0.34%, and the Hong Kong Hang Seng Index dropped 0.14%.
China kept its benchmark loan prime rates unchanged on Thursday, in line with market expectations. The one-year loan prime rate (LPR) remained at 3.45%, and the five-year LPR was unchanged at 3.95%. Despite a series of recent data showing the need for more support to underpin the uneven economic recovery, the stable monthly LPR pricing highlights Beijing's monetary easing measures continuing to be constrained by narrowing interest rate differentials and currency depreciation. The onshore yuan has fallen against the US dollar since November last year, breaking 7.26 for the first time.
Meanwhile, the pound remained stable ahead of the Bank of England meeting, with the expectation that the Bank of England will keep interest rates unchanged. In addition to the Bank of England, investors will also follow the decisions of the Swiss National Bank and the Norwegian Central Bank to assess the global interest rate outlook.
UK inflation in May rose to the target level of 2% for the first time in nearly three years, but strong underlying price pressures have all but ruled out the possibility of an interest rate cut before next month. Data from the UK Office for National Statistics showed that the inflation rate for services prices was 5.7%, which the Bank of England considers to be a better reflection of medium-term inflation risks. This figure is lower than April's 5.9%, but higher than the 5.5% predicted by economists in a Reuters survey or the 5.3% predicted by the Bank of England last month.
Most economists believe that the Central Bank will start cutting interest rates in August, but the market sees only a 30% chance of a rate cut in August, and the first rate cut is more likely to come in September or November.
In terms of commodities, the price of oil fluctuates, with Brent crude oil prices stabilizing at $85.08 per barrel, while the June futures price of WTI crude oil in West Texas, USA, fell slightly by 0.18% to $81.42 per barrel.
The price of gold rose slightly on Wednesday, with spot gold up 0.1% to $2,330.23 per ounce.
Author: Sherry S. & Icing.
This article represents only the author's point of view and does not constitute any trading advice.
This article is original, and the copyright belongs to Gate.io. Please indicate the author and source if you need to reprint, otherwise legal responsibilities will be pursued.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
The first line|The encryption market tends to stabilize; Solana Layer 2 project Sonic raises funds with a valuation of $100 million; Consensys plans to sue the SEC; LayerZero opens qualification check for token airdrops
Crypto World Daily Digest: Solana Layer 2 project Sonic raises funds at a valuation of $100 million; Consensys plans to sue the SEC; LayerZero opens eligibility check for token airdrops
On Wednesday, the US market was closed, with no Bitcoin ETF-related trading activities.
Solana Layer 2 project Sonic raised funds with a valuation of 1 billion USD
Solana Layer 2 network Sonic, focused on gaming, raised $12 million in Series A financing. Sonic announced on Tuesday that the round was led by Bitkraft Ventures, with participation from Galaxy Interactive, Big Brain Holdings, and others. Sonic founder and CEO Chris Zhu said the project started fundraising in April and concluded earlier this month. This round of financing is structured as equity and comes with token warrants, bringing Sonic's fully diluted valuation to $100 million.
Sonic was originally a mobile game, but the project later realized the lack of game infrastructure and developed the unique HyperGrid Framework technology - achieving horizontal scalability through aggregation on Solana, enabling Sonic to provide extremely fast on-chain gaming experience at the lowest cost.
Sonic is now on-line on the development network, and the first five game studios are using its technology to develop games. An incentive test network activity called "Odyssey" will be launched later this week, and users can obtain "rings" through on-chain activities. Although the rings will not be directly converted into Sonic tokens, contributors will be rewarded in some way.
In addition, Sonic provides a subsidy and acceleration plan for game developers, with a total amount of 20 million dollars, including token subsidies, token exchange transactions, and stablecoins or fiat currency. Sonic's Mainnet and its own tokens are expected to be launched in the third quarter of this year.
Consensys plans to file a lawsuit against the U.S. Securities and Exchange Commission
Due to the fact that the US Securities and Exchange Commission (SEC) classified Ethereum as a financial security, Consensys filed a lawsuit in April. Although the SEC has ended its investigation into Ethereum 2.0, Consensys still plans to continue the lawsuit.
Consensys founder Joseph Lubin said the lawsuit aims to seek more legal clarity for the cryptocurrency field. Consensys said in a statement on Tuesday that the end of the SEC investigation was a "significant victory" for the industry, indicating that the agency will no longer bring securities trading charges against the sale of Ether.
LayerZero is open for token airdrop qualification check
Cross-Chain Interoperability platform LayerZero announced an upcoming Token Airdrop and launched a qualification check tool. LayerZero Labs raised $120 million in Series B financing, with a valuation of $3 billion. To prevent Sybil Attack from creating multiple fake accounts and unfairly obtaining more free tokens, LayerZero strengthened its anti-Sybil strategy in the weeks leading up to the airdrop distribution date.
LayerZero Labs CEO Bryan Pellegrino stated that users can use tools to check if they are eligible for the airdrop and to get a summary of user activities. A total of 1.28 million wallets are eligible. The remaining funds will be distributed over the next 36 months, with an additional retrospective allocation every 12 months, and also providing some forward-looking request for proposal (RFP) to builders.
Details of the airdrop announced last weekend show that 23.8% of the total supply of 1 billion tokens will be directly distributed to the community and builders. Pellegrino stated that on the first day of distribution, 8.5% of the allocated supply will be distributed to the community.
Market Trend
Macroeconomics
Market Hotspots
Overview
The current market is relatively stable under the leadership of BTC and ETH, but the trends in specific zones show different opportunities and risks. AI, Meme, and the US election concept may still be hot topics for speculation in the near future. Investors should choose suitable investment opportunities based on their risk tolerance and investment strategies, and keep a continuous follow on market trends.
Macro: Asian stock markets remain at high levels, China keeps the benchmark lending rate unchanged; actions of the Bank of England are closely watched
On Wednesday, the US stock market was closed and the market was relatively flat. In early trading on Thursday, Nasdaq futures, which have a higher proportion of technology stocks, rose 0.25%.
On Thursday, June 20th, Asian stock markets opened near their highest level in two years as traders awaited more clues about US policy. The MSCI Asia Pacific Index was largely unchanged at 572.97, slightly below the two-year high of 573.38 reached on Wednesday. The index is expected to rise by 4% in June. The Japanese Nikkei Index fell 0.63%, the Chinese blue-chip stock index fell 0.34%, and the Hong Kong Hang Seng Index dropped 0.14%.
China kept its benchmark loan prime rates unchanged on Thursday, in line with market expectations. The one-year loan prime rate (LPR) remained at 3.45%, and the five-year LPR was unchanged at 3.95%. Despite a series of recent data showing the need for more support to underpin the uneven economic recovery, the stable monthly LPR pricing highlights Beijing's monetary easing measures continuing to be constrained by narrowing interest rate differentials and currency depreciation. The onshore yuan has fallen against the US dollar since November last year, breaking 7.26 for the first time.
Meanwhile, the pound remained stable ahead of the Bank of England meeting, with the expectation that the Bank of England will keep interest rates unchanged. In addition to the Bank of England, investors will also follow the decisions of the Swiss National Bank and the Norwegian Central Bank to assess the global interest rate outlook.
UK inflation in May rose to the target level of 2% for the first time in nearly three years, but strong underlying price pressures have all but ruled out the possibility of an interest rate cut before next month. Data from the UK Office for National Statistics showed that the inflation rate for services prices was 5.7%, which the Bank of England considers to be a better reflection of medium-term inflation risks. This figure is lower than April's 5.9%, but higher than the 5.5% predicted by economists in a Reuters survey or the 5.3% predicted by the Bank of England last month.
Most economists believe that the Central Bank will start cutting interest rates in August, but the market sees only a 30% chance of a rate cut in August, and the first rate cut is more likely to come in September or November.
In terms of commodities, the price of oil fluctuates, with Brent crude oil prices stabilizing at $85.08 per barrel, while the June futures price of WTI crude oil in West Texas, USA, fell slightly by 0.18% to $81.42 per barrel.
The price of gold rose slightly on Wednesday, with spot gold up 0.1% to $2,330.23 per ounce.
Author: Sherry S. & Icing. This article represents only the author's point of view and does not constitute any trading advice. This article is original, and the copyright belongs to Gate.io. Please indicate the author and source if you need to reprint, otherwise legal responsibilities will be pursued.