Bitcoin Long-term Holders’ Capitulation Has Started: Is The Bottom Getting Closer?
Daily Market Wrap
Crypto market cap: 1.23 trillion, down 1.75%
BTC price stands at USD 30,049, down 1.30%
ETH price stands at USD 1,762, down 4.31%
Top gainer: eCash (XEC), up 10.49%
Top loser: Chiliz (CHZ), down 7.80%
News of the Day
The Long Term Holder SOPR for Bitcoin
Why it matters:
The SOPR measures the demand for UTXO-based crypto assets, like BTC, whether market participants are selling at a profit or loss.
Typically, if the value of SOPR is greater than 1, It implies that the coins moved in a specific timescale are selling at a profit on average, and vice versa.
At press time, The Long Term Holder SOPR for Bitcoin is 0.89. Typically, the long-term holders are selling at a loss, indicating “that the smart money accumulation phase has begun
Crypto daily spotlight
STEPN Tweet on Jun 5
Brief introduction: STEPN is the first move-to-earn mobile nonfungible token (NFT) game powered by the Solana blockchain, with SocialFi and Game-Fi elements. Users can earn tokens by walking, jogging, or running outdoors with an NFT sneaker in the game.
Why it matters:
The popular crypto game STEPN on the Solana blockchain suffered a number of distributed denial-of-service (DDoS) attacks this weekend following a recent upgrade
“We recommend you take some rest during the maintenance or otherwise the work-outs may not be recorded properly. Our engineers are working hard to fix the problems,” STEPN team said in a tweet on Sunday
The outage came after an “anti-cheating” upgrade introduced on June 3, which was aimed at eliminating fraudulent bots and motion data
Daily sector tracker
Daily News Roundup
The Main DEX on Elrond Maiar Goes Dark, EGLD tokens down 7% https://bit.ly/3mgLkgw
Indian Terra Investors Face A “Double Whammy” as 30% Tax Bills For The Recent LUNA 2.0 Airdrop https://bit.ly/3mgUPfE
ApeCoin Holders Vote Against Proposal to Stay on Ethereum https://bit.ly/3theBM1
Binance Labs Makes a Strategic Investment in PancakeSwap https://bit.ly/3xluWBA
37% of Survey Participants Want Bitcoin to Become Legal Tether in Their Countries https://bit.ly/3tlzt4H
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