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
Bitcoin Long-term holders’ capitulation has started: is the bottom getting closer?
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
‘Move-to-Earn’ game STEPN suffers DDOS attacks after upgrade — again.
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
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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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