FLEX experienced the highest volatility and significant price surge. Several coins saw dramatic shifts in rankings and market dynamics. Caution and research are essential in the highly dynamic cryptocurrency market. In a riveting twist, the last 30 days in the cryptocurrency market have been nothing short of a roller-coaster ride. Notably, a handful of coins have seen significant volatility, causing a seismic shift in rankings and market dynamics. Flexing the Volatility Muscle At the top of the list, FLEX outshines the rest with a jaw-dropping 61.4% volatility in the past month. Astonishingly, its price rose to $2.59, driving a 256% surge in its market value. Consequently, the coin’s market cap stands at a solid $256 million. Currently, the principal exchange platform for FLEX is BKEX. Moreover, other coins are grappling with their dramatic shifts. OVR, for instance, clocked a 53.4% volatility with a modest price of $0.352. Despite the turbulence, it saw a 26% growth, taking its market cap to $18.1 million. However, unlike FLEX, it’s primarily traded on Gate.io. Underdogs Stir the Pot Akash Network and ABBC Coin are also part of this tumultuous list. Specifically, Akash Network, with a volatility of 50.9%, and ABBC Coin, at 47.3%, saw their prices soar to $0.481 and $0.171, respectively. They managed to amass market caps of $94 million and $171 million while actively trading on Kucoin and Huobi. Besides these, despite their volatility, Multichain and ArbDoge AI saw a substantial decrease in their market values. Multichain’s value slipped by 57.3%, whereas ArbDoge AI fell by 53.9%. Significantly, both coins are currently traded on Binance and Huobi, respectively. Arpa, Linear, SUI, and Pepe also showcased high volatility levels. With a 37.8% volatility, Arpa saw a 10.7% decrease in its market value. On the other hand, Linear, with a volatility of 33.6%, recorded a 66.8% increase. To sum up, these cryptocurrencies’ wild fluctuations underline the market’s highly dynamic nature. Hence, caution and research are as crucial as courage in this digital wild West.

As per CoinMarketCap, Shiba Inu token has increased in price by 1.49%. SHIB has encountered a whale transaction of 1.5T tokens. With no surprise, Shiba Inu (SHIB), one of the popular memecoins has been purchased by massive whales over a period. Yet, subsequently, the burn rates are getting higher on the other hand. However, these activities engage the crypto community. From the Shiba Inu (SHIB) records and transfers, Lookonchain has captured the largest holder of SHIB with 1.5 trillion tokens. Meanwhile, as per the current market price, it accounts for $10 million considering the last 24 hours. Largest Whale Records The huge transfer of the SHIB tokens is accumulated from the major cryptocurrency exchanges namely Binance and Coinbase. According to the records retrieved, the largest whale totally has 5.3 trillion SHIB tokens worth $35.5M. Meanwhile, the same whale encountered over the last month on May 16, 2023, where twenty trillion SHIB tokens were transferred. At that time, the value of the transfer is approximately $134 million accordingly to the market price. The identified address of the whale is ‘0x40B3’ from the reports of Lookonchain. Moreover, this whale is considered the top SHIB holder comparing the other records. SHIB Token Activities Over the last 24 hours, the accounted transactions to a dead wallet are nearly 3 million SHIB tokens. Meanwhile, the burn rate is a 13.18% increase compared to the previous day. Currently, Shiba Inu is priced at $0.000006772 with an increase in price of 1.49%. Shiba Inu Price Chart (Source: CoinMarketCap) According to CoinMarketCap, the market capitalization of Shiba Inu is increased by 1.49%, ranking 18th among the other tokens. However, the trading volume is not active and has fallen by 7.87% comparatively. Recommended For You: Shiba Inu (SHIB) Price Prediction 2023

STCSM fuels innovation and promotes scientific literacy in Shanghai. It fosters global scientific cooperation, enhancing Shanghai’s international relevance. STCSM upholds scientific integrity and ethical research practices. Located at the heart of the bustling metropolis, the Science and Technology Commission of Shanghai Municipality (STCSM) consistently fuels the city’s innovative spirit. This dynamic organization is instrumental in developing and implementing groundbreaking scientific and technological plans for Shanghai. Moreover, its commitment to the city’s future is more than just theoretical. They translate their strategies into tangible measures, significantly propelling technological research and transfer across multiple sectors. Additionally, the STCSM, as a critical municipal government body, is proactive in fostering science popularization. They promote scientific knowledge and understanding among the citizens of Shanghai, setting the city apart as a hub of scientific literacy. Advancing International Collaboration and Upholding Scientific Integrity Besides its pivotal local role, STCSM underscores the importance of international scientific cooperation and exchange. By fostering global partnerships, they ensure Shanghai stays at the forefront of scientific discovery and technology development. Consequently, the city is not only a thriving center of innovation in China but also a significant player on the global stage. Furthermore, as per the reports, the STCSM takes the matter of scientific integrity very seriously. The organization works diligently to establish and maintain a rigorous system for scientific research supervision, promoting transparency and ethical research practices. In a unique blend of domestic and international initiatives, the STCSM also facilitates the foreign workforce in Shanghai by managing the review and approval of work permits. Hence, the commission actively contributes to the city’s inclusive growth and multicultural environment. Amid rapid technological change and international interconnectivity, the Science and Technology Commission of Shanghai Municipality continues to be a beacon of progress. Their commitment to fostering innovation, integrity, and cooperation exemplifies how they’re shaping the city’s present and paving the way for Shanghai’s technologically advanced future.

Polygon Labs argues SEC’s ‘exchange’ redefinition misfits decentralized blockchain operations. The proposal’s broad scope could inadvertently impact diverse blockchain-reliant industries. Polygon Labs, a blockchain infrastructure behemoth, is sounding the alarm over the Securities and Exchange Commission’s (SEC) proposed redefinition of ‘exchange.’ The tech titan expressed these concerns in a June 13, 2023, letter requesting the SEC to reevaluate its proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934. Blockchain Validators: Not Your Traditional ‘Group of Persons’ In the communication, Polygon Labs draws attention to the significant disconnect between the SEC’s proposed interpretation of ‘exchange’ and the reality of blockchain operations. Notably, the SEC’s suggestion that validators on a blockchain network—a host of independent, decentralized participants—should register as a ‘group of persons’ raises eyebrows. On the other side, Polygon Labs argues that due to their decentralization and independence, these validators can’t coordinate as a traditional group. Moreover, the requirement for network operators to register is highlighted as a ‘critical flaw’ with profound implications. This could hinder technological innovation and economic growth in the U.S., an outcome that should be avoided. Ambiguity and Misinterpretation: Two Troubling Aspects Beyond this, the company raises questions about the unclear nature of the proposed “New Rule 3b-16(a) Systems.” Polygon Labs underscores that this ambiguity leaves several questions unanswered, including who the rule targets and whether compliance is feasible. In addition, Polygon Labs points out the sweeping nature of the proposal, encompassing relationships far removed from traditional securities exchanges. The potential for misinterpretation here is vast, potentially causing more harm than good. Unintended Consequences for Blockchain-based Technologies The company ultimately cautions against the SEC’s proposal, expressing concern about its excessively broad scope and the potential for wide-ranging consequences. These unintended consequences could significantly impact diverse industries, especially those reliant on blockchain technologies like permissionless distributed ledgers and decentralized finance. In conclusion, while it’s clear that regulatory frameworks need to adapt to new technological realities, this proposal, according to Polygon Labs, misses the mark. Consequently, the SEC must revise its proposal, balancing regulation and innovation.

The BNB is being sold off for BUSD to suppress volatility in Bitcoin. The controversial tweet raises questions about the crypto community. The U.S. Securities and Exchange Commission has continuously filed lawsuits against the top crypto exchanges, including the world’s largest crypto exchange, Binance. After the lawsuit, Binance gained a lot of support from the crypto community. Recently, Binance CEO Changpeng Zhao replied to the tweet of a crypto enthusiast. The tweet mentioned that the crypto exchange and CEO CZ are selling Bitcoin to defend the BNB $220 liquidation. There is another reply tweet that confirms that Binance has sold Bitcoin. He mentioned that Bitcoin is being sold off for USDT reserves. Moreover, the BNB is being sold off for BUSD to suppress volatility in Bitcoin. He added that this is technically market manipulation, and Binance is definitely up to something here to prevent BNB from crashing as well as Bitcoin. However, CZ replied that Binance had not sold any Bitcoin or BNB. Moreover, the exchange still has a bag of FFT. The controversial tweet raises questions about whether the crypto exchange sold Bitcoin and BNB.

House Financial Services Committee urges Congress for a clear regulatory framework on digital assets. Jurisdictional challenges between SEC and CFTC complicate digital asset classification. The lack of consistent standards leads to uncertainty for market participants and investors. In an ongoing motion, the House Financial Services Committee has called upon Congress to establish a consistent and clear regulatory framework for digital assets, emphasizing the need for regulatory certainty in the ever-evolving landscape. The motion highlights the jurisdictional challenges between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and the difficulty in determining whether a digital asset should be classified as a security or a commodity. Under the Securities Act of 1933 and the Securities Exchange Act of 1934, the SEC holds full authority over the offer, sale, and trading of securities, with the requirement that all securities must be registered with the SEC or qualify for an exemption. On the other hand, the Commodity Exchange Act (CEA) and CFTC regulations govern the comprehensive regulatory regime for commodity derivatives trading but lack a similar framework for spot trading. The central question is whether a digital asset falls within the definition of security and, therefore, under the SEC’s jurisdiction. The purpose of security includes an “investment contract,” as defined by the Supreme Court in SEC v. W.J. Howey Co. encompasses arrangements involving an investment of money in a joint enterprise, with an expectation of profits derived from the efforts of others. Notably, all four factors must be present for an arrangement for classification as an investment contract. Market participants, consumers, and investors seek regulatory clarity as a digital asset’s classification dictates its requirements and obligations. However, consistent and transparent standards have yet to be established, leading to ongoing uncertainties. Furthermore, enforcement actions by the SEC and the CFTC have revealed divergent views on whether certain digital assets should be classified as securities or commodities. Stablecoin Regulations Lacking: Congress Called to Act For instance, the CFTC recently initiated an enforcement action against Binance, declaring Binance’s BUSD stablecoin, bitcoin, ether, and Litecoin commodities. Conversely, SEC Chair Gensler has expressed that all digital assets, except Bitcoin, should be considered securities. In a recent case against Binance and its Founder Changpeng Zhao, the SEC, they were alleged that Solana’s (SOL), Cardano’s ADA, Polygon’s MATIC, and several other tokens were offered and sold as securities. These inconsistent positions underscore the urgent need for congressional action. Moreover, stablecoins have gained prominence as a class of digital assets designed to provide price stability by being pegged to the value of other assets, most commonly the U.S. dollar. Stablecoins aim to offer reduced volatility, allowing them to function similarly to traditional currencies. However, without a clear regulatory framework, potential risks and implications associated with stablecoins remain uncertain. Given these challenges, the House Financial Services Committee urges Congress to act promptly. By establishing a comprehensive regulatory framework, Congress can provide the much-needed clarity for market participants, consumers, and investors, fostering innovation and safeguarding against potential risks. The ongoing motion signifies the urgency and necessity of regulatory action to address the complexities surrounding digital assets in today’s financial landscape. Recommended For You: U.S House Committee Proposes Draft Stablecoin Law

Uniswap v4 introduces game-changing ‘hooks’ for liquidity pool customization. Architectural upgrades in Uniswap v4 reduce costs and enhance efficiency. Uniswap v4 solidifies its role as a vital component of future financial infrastructure. In an exciting and consequential revelation, Uniswap has announced its vision for v4, promising ground-breaking changes that could redefine the future of decentralized finance (DeFi). Significantly, this update places Uniswap as a critical component of financial infrastructure, a testament to its burgeoning influence in the blockchain space. A Leap Towards Customization: Unveiling ‘Hooks’ One of the key innovations in Uniswap v4 is the introduction of ‘hooks,’ a dynamic feature set to revolutionize liquidity pools. Hooks allow users to add entirely new pool functions, such as dynamically adjusting fees or creating innovative order types. Thus, they enhance the power and flexibility of Uniswap’s platform, paving the way for a vibrant ecosystem. To demonstrate the immense potential of hooks, Uniswap has introduced sample hooks. These include time-weighted average market maker (TWAMM), on-chain limit orders, and customized on-chain oracles. Consequently, we can expect a surge in the diversity and complexity of liquidity pools, marking a significant milestone in DeFi. Architectural Upgrades: Reducing Costs and Enhancing Efficiency Besides introducing hooks, Uniswap v4 also boasts various architectural improvements. These upgrades are designed to support a multitude of unique pools, driving the platform’s adaptability and versatility. To gain deeper insights into these advancements, Uniswap has provided a technical whitepaper explaining its vision for v4. The platform now hosts v4 pools in a single contract. As a result, the cost of pool creation has plunged by a remarkable 99%. Furthermore, a new ‘flash accounting’ system has been implemented. This system dramatically cuts the cost of routing across multiple pools. Developers, therefore, can now leverage Uniswap’s robust security and expansive network effects without constructing their own Automated Market Maker (AMM) from scratch. Consequently, Uniswap v4 brings swift, flexible AMM innovation into one robust ecosystem, enabling developers to focus more on designing unique hook integrations. Indeed, this marks a great stride forward for Uniswap, reinforcing its position as a core component of the financial infrastructure of the future.

Balancer protocol deploys on Polygon’s zkEVM, optimizing Ethereum scaling and driving liquidity growth in the zkDeFi ecosystem. Integration of Balancer strengthens the DeFi experience on Polygon, creating a seamless and interconnected user environment. Balancer’s unique positioning facilitates network-wide liquidity growth on Polygon zkEVM, leveraging the 8020 Initiative and Boosted Pools. In a significant stride towards optimizing Ethereum scaling and driving liquidity growth in the zkDeFi ecosystem, the Balancer protocol has announced its deployment on Polygon’s zkEVM. This move strengthens the DeFi experience on Polygon, creating a seamless and interconnected user environment. Balancer’s unique positioning allows it to play a crucial role in facilitating network-wide liquidity growth on Polygon zkEVM. By harnessing innovative technologies like the 8020 Initiative, Balancer offers deep liquidity, efficient incentive programs, and reduced volatility, leading to the next stage in DeFi governance. The power of Layer2 solutions lies in their ability to enhance Ethereum’s scalability, efficiency, and cost-effectiveness. Hence, Balancer’s integration on Polygon zkEVM amplifies these benefits, opening doors for accelerated development and progress throughout the ecosystem. One of Balancer’s essential features, Boosted Pools, is designed to wrap and route idle liquidity to external yield-generating protocols. This approach ensures optimal resource utilization and provides users with additional sustainable Liquidity Mining incentives. Consequently, this mechanism is primed to turbocharge the growth of DeFi on Polygon zkEVM, offering participants an enhanced and rewarding experience. Significantly, the presence of Balancer on this network expands the possibilities and potential for the entire ecosystem. Besides its commitment to seamless interoperability, Balancer’s collaboration with it strengthens the overall liquidity landscape and enhances platform connectivity. This alliance is a testament to the continuous efforts to build a robust and thriving DeFi ecosystem. Moreover, the deployment of Balancer on Polygon zkEVM signifies a forward-looking approach toward Ethereum’s scalability and liquidity challenges. By leveraging the strengths of both platforms, users can expect improved efficiency, connectivity, and growth in the DeFi space. Long-Term Implications of Balancer-Polygon Collaboration However, it’s worth noting that integrating Balancer on Polygon zkEVM is more comprehensive than its immediate benefits. The long-term implications are far-reaching, as this collaboration paves the way for future innovations and advancements in DeFi. Additionally, this strategic move reinforces the importance of Layer2 solutions in addressing scalability concerns and unlocking the full potential of Ethereum. Balancer’s presence on Polygon zkEVM is a testament to the continuous evolution of DeFi and its ability to adapt to the changing needs of users. Balancer’s deployment on Polygon zkEVM marks a significant milestone toward an optimized DeFi experience. By harnessing the power of technologies like the 8020 Initiative and Boosted Pools, Balancer strengthens liquidity growth, governance, and overall development on Polygon zkEVM. This collaboration sets the stage for a seamless, interconnected, and enhanced future of decentralized finance in its ecosystem. Recommended For You: Polygon’s zkEVM Beta Hits 100K Wallets, Setting New Adoption Record

The two countries have become an unstoppable duo in the crypto world. The partnership is expected to reshape the global economy. The U.S. Securities and Exchange Commission (SEC) has become increasingly aggressive in its pursuit of regulatory enforcement within the crypto world. The SEC has continuously filed lawsuits against the top crypto exchanges, including Binance. It creates uncertainty about the future of the crypto firms operating in the United States. Following that, the BRICS countries of Russia and China set to surpass the U.S. in crypto adoption. According to the report, Russia and China have joined hands to surpass the United States in crypto adoption. The two countries have become an unstoppable duo in the crypto world. While the SEC struggles to make up clarity about the crypto regulations, the move by Russia and China to increase crypto adoption expected to realize the immense potential of crypto. Russia and China’s Collaborative Efforts The two countries are capitalizing on the shifting regulatory landscape to position themselves at the forefront of the crypto revolution. Moreover, with the two superpowers set to support crypto, the world expected to witness an epic shift in the financial landscape. Russia has continuously worked on the development of crypto adoption. Recently, the country has been in talks with Iran, signaling a new era of crypto-enabled trade. This is to create a way for seamless financial transactions. Following that, Russia joined with China to surpass the U.S. in crypto adoption. As China and Russia improve innovation, the U.S. risks falling behind. This may affect the dollar’s dominance. The two countries are strategically positioning themselves to lead the crypto race. Moreover, the partnership expected to reshape the global economy.

If the attacker accepts the offer, the lending platform’s team won’t take any more action. On June 12th, over $800,000 worth of digital assets were stolen from the DeFi platform. Sturdy Finance, a decentralized finance (DeFi) platform, has declared a $100,000 bounty to the hacker who discovered the protocol’s vulnerability. If the attacker accepts the offer, the lending platform’s team won’t take any more action. On June 12th, over $800,000 worth of digital assets were stolen from the DeFi platform. After an attacker exploited flaws in the system. Also, according to the security companies, the vulnerability was caused by a flawed pricing oracle. And the hack was executed via a reentrancy attack. As a result, the website froze all markets and reassured users that their money was safe. Successful Strategy at Times Moreover, a day after the theft, the protocol’s co-founder, Sam Forman, tweeted that the hackers may keep $100,000 provided they returned the remaining funds to a wallet the team had designated. Also, Forman claims that recent hacks have shown that it is no longer simple to avoid vulnerabilities. The CEO has said that the team is prepared to dismiss the matter if the hacker accepts the offer. Forman said that the hacker may come to Sturdy Finance for talks. Furthermore, recent attacks have shown that platforms may be able to retrieve some of the stolen cash by providing rewards to attackers. On April 4, the Euler Finance team was able to negotiate and give a reward to its attacker, resulting in the return of 90% of the stolen assets in one of the largest DeFi attacks this year. Also, Sentiment, a lending protocol, offered a reward to the hacker who exploited their system and recouped $870,000. However, not every project has the same level of success when negotiating with hackers. After an attacker exploited the Jimbos Protocol platform on June 1, the developers behind the protocol offered an $800,000 bounty to anybody who could identify the perpetrator. Moreover, the platform stated that the reward will be given to whoever provided information that results in the hacker’s arrest or the recovery of the cash. Recommended For You: DeFi Protocol Sturdy Finance Loses $800k in Recent Exploit

Binance’s CEO has first responded to the SEC lawsuit. The judgment relies on the U.S. District Court against this case. As of now, the top cryptocurrency exchange, Binance has submitted its responses against the lawsuit claimed by the Securities and Exchange Commission (SEC). The CEO of Binance, Changpeng Zhao reached out to the court responses and it seems the heat of the moment. Considerably, the judgment relies on the U.S. District Court once after the hearing at Washington D.C. earlier today. However, the case will be processed ahead concerning the arguments and discrepancy between Binance and the SEC. Once after receiving the complaint, Binance assured its investors that they prefer safety and provide ensured systems for deposits and withdrawals. Yet, the SEC complaint was truly disappointing, said Changpeng Zhao lately. Following the deadline for Summons issued by the U.S. District Court, Binance CEO has now published his response. Zhao confirmed that there is no FUD on submitting the response whereas it is the procedure that is ‘nothing new’. Currently, Binance looks ahead to proceed with the case of the SEC lawsuit against them as per the court judgment concerning the arguments that have passed so far. Recommended For You: Binance Bullish Against SEC: Netflows Exceed $521M

BTC miners move over $174 million worth of Bitcoin. The movement from miners has witnessed a spike from May 31. 14-day average miner movement of BTC stands at 489.26 BTC. According to blockchain analytics firm Glassnode, there has been an increase in the transfer of bitcoin (BTC) from miners to centralized exchanges since May 31. Data reveals that miners or entities responsible for minting coins by verifying transactions on the blockchain have moved a total of 6,671.99 BTC ($174 million) to exchanges during this period. On June 3 alone, miners transferred 2,606 BTC to exchanges, marking the highest single-day tally in over four years. Bitcoin miners move millions worth BTC The 14-day average of miner transfers to exchanges has seen a significant rise, reaching 489.26 BTC, the highest level since March 2021. Concurrently, the balance in wallets associated with miners has decreased by approximately 2,000 BTC within a two-week timeframe. Historically, the movement of coins from miner or investor wallets to exchanges is often interpreted as an intention to sell or liquidate the coins. Consequently, the increased transfer of coins from miners to exchanges is generally perceived as bearish. However, it is worth noting that these recent transfers account for only 1.3% of Bitcoin’s 24-hour trading volume, which stands at $13 billion. Thus, the impact on Bitcoin’s price is not expected to be substantial. Furthermore, heightened miner transfers are often seen as an expression of confidence in Bitcoin’s price outlook. The underlying logic is that miners’ profitability is closely linked to Bitcoin’s price, prompting them to increase sales when they perceive a strong market capable of absorbing the additional supply. This approach resembles the actions of a central bank from a nation with a current account deficit buying U.S. dollars in the open market when the currency is widely available. By doing so, the central bank can build reserves without risking a depreciation of the local currency. As of now, bitcoin’s price remains within a familiar range above the key support level of $25,200, based on data.

Gary Gensler informs that the last date for commenting on SEC proposals is today. SEC has enabled three ways of receiving public comments. The United States Securities and Exchange Commission (U.S. SEC) has updated and revised its proposals in multiple sections. Some of the releases include Proposed Rules, Concept Releases, Self-Regulatory Organization (SRO) filings, Rulemaking Petitions, Public Company Accounting Oversight Board Rulemaking, and others. The chair of the U.S. SEC, Gary Gensler has tweeted that the last day of providing comments on all the proposals will be, this Tuesday. Ways of Commenting on SEC Proposals According to the invite from the SEC, the public can submit their comments through the online form, or e-mail on the website. The comments are then publicly posted on the website which are sent on paper with a conversion of PDF. If a comment is been repeated with the same content by others, then the first comment will be made public with the count of similar comments received. Additionally, there is no way for entertaining any personal details or information. However, the protection is restrained with the material submission from the public and neglects the offensive comments if thrown. Firstly, the submission of the online form is open and can be identified on the rules index pages. The following form can be accessed through the ‘submit comments’ link. Secondly, the mail option is enabled and can be sent to [email protected]. Mentioning that the message has to be included with the File No. ‘S7’ or ‘SR’. The attachments are accepted in PDFs. Thirdly, the paper letter is another way of commenting on the preferred address. Mainly, it should be listing the File No. as stated for the e-mail format.

The FOMC will decide on rate hikes at their meeting on June 14, 2023. The US Federal Reserve may be more inclined to suspend its rate-hike cycle. U.S. Consumer Price Index (CPI) numbers for May 2023 were issued by the Bureau of Labour Statistics on Tuesday. The authorities said that the CPI for all urban consumers grew 0.1% in May after adjusting for seasonal factors and increased by 4% over the previous 12 months. As a result, the inflation numbers for the month were within expectations, and the annual rate of 4% is the lowest it’s been in roughly two years. Price increases of 0.1% were anticipated by market players, a decrease from the 0.4% increase seen in April 2023. However, the market is expecting the Federal Open Market Committee (FOMC) will decide to suspend rate hikes at their meeting on June 14, 2023. Crypto Market Trading in Green The Consumer Price Index (CPI) tracks the cumulative percentage change in urban consumers’ spending on goods and services over time. The crypto market briefly surged post the data release. With Bitcoin and major altcoins trading in green. The Bitcoin price has risen sharply over the last 24 hours, reaching the $26,000 area just before the publication of CPI statistics. Following the publication of the data, the price of Bitcoin increased by 3% from its daily low of $25,700, before correcting somewhat. The US Federal Reserve may be more inclined to suspend its rate-hike cycle in light of recent reports of falling inflation and the lowest annual inflation rate in two years. There is an absolute certainty that the Federal Reserve will delay any more rate hikes at their next meeting, according to the CME FedWatch Tool. According to CMC, the price of Bitcoin is $25,921, up 0.75% in the last 24 hours.

XRP price surged by 7.4% over the last 24 hours. The price surge follows the release of Hinman Doc. Ripple vs. SEC lawsuit has been prolonged for over two years. XRP prices experienced a 7.4% increase over the past 24 hours, defying minor gains observed in the broader cryptocurrency market. This surge in value is likely attributed to traders speculating on a positive outcome for Ripple Labs in its ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). The price rally coincided with the release of documents related to William Hinman, the former director of the SEC’s Division of Corporation Finance from 2017 to 2020. As part of the ongoing legal proceedings between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), these documents were publicly disclosed. Hinman doc has importance for XRP vs. SEC outcome In a 2018 speech, Hinman expressed his perspective that bitcoin (BTC) and ether (ETH) should not be classified as securities. Emails from Hinman further indicated that there was no need to regulate Ether as a security based on its current offering. Ripple Labs has seized upon Hinman’s remarks to support its argument that XRP should not be considered a security, which could potentially lead to a favorable outcome for the company. The lawsuit, initiated by the SEC in 2020, alleges that Ripple engaged in the sale of unregistered securities. Ripple has historically maintained a distinction between itself and XRP, which serves as the token powering certain products and the XRP Ledger network. However, developments in the legal case have a direct impact on XRP prices. XRP is trading at $0.5278 at press time and it is also up by 3.12% in the last seven days.

The leading digital studio in the world, TheSoul Publishing, has collaborated with BYTE CITY, the next-generation community party platform that combines gaming, community, and creativity, to deliver an unparalleled virtual dance competition to its platform. Polar, a well-known singer, dancer, and influencer with more than 1.8 million TikTok followers and more than 1.3 million YouTube subscribers, is the featured performer at this occasion, which is referred to as the Polar Party Dance Off. Polar is a new voice that embraces teenage rebellion and talks directly to Generation Z. Her followers are drawn to her for her secretive attitude, distinctive aesthetic, and catchy dancing skills. The Polar Party Dance Off is a week-long competition that begins on June 17, 2023, where competitors may showcase their greatest choreography while utilizing unique Polar avatars in an effort to win the grand prize. For the first time ever, a virtual singer has been integrated into a dancing game at this event, and her followers may now purchase Polar avatars. For each participant, this is a one-of-a-kind and thrilling event. Players can participate in unique live performances in-game by Polar during the week-long event, replete with cutting-edge graphics and engrossing audio. Players must register to play on the BYTE CITY website, download BYTE CITY from the Samsung Galaxy Store or Google Play, and join the BYTE CITY Discord group in order to take part in the Polar Party Dance Off. Everyone is invited to participate in the fun.

The Layer-3 infrastructure network for decentralized apps, Orbs, has announced the permissionless beta launch of TON.Vote, a revolutionary DAO-based governance solution for The Open Network (TON). Any TON-based project that wants to incorporate DAO-based governance may now utilize TON.Vote, according to Orbs, with STON.fi, EvAA, TON Punks, and Fanzee were among the first to accept it as official launch partners. Following tight cooperation between Orbs and the TON Foundation, which served as its main design partner for the creation of the app, TON.Vote has been officially launched. The TON.Vote app was developed by Orbs in close collaboration with the TON Foundation to meet the needs of both The Open Network and the projects that make up its ecosystem. All governance ideas and votes may now take place on-chain thanks to TON.Vote. The merkle tree of all votes is openly maintained on IPFS and can be independently checked by any user. Every time a user submits a proposal, a smart contract is formed that contains a reference to the merkle tree of all votes. Users of TON.Vote submit a transaction to the smart contract with their vote (yes/no/abstain), which is subsequently handled off-chain before the results are determined, according to the present implementation. Users’ votes will eventually simply need a digital signature from their wallet, and they will be protected by IPFS. In the event that a uniform wallet signature is adopted by all dApps, votes will then be verified using a wallet sign and be gas-free. TON.Vote uses Orbs’ L3 Guardians technology to confirm that the votes presented in the UI are correct and match those kept in the smart contract’s data, further enhancing security. The Orbs Guardians ensure that there are no data inconsistencies by cross-checking the information that is shown on the front end. This adds another level of security by securing each vote with manual chain checks and independent validators, strengthening the transparent process. After TON.Vote’s soft launch, it assisted in organizing two important community votes for the TON community and its ecosystem. First up was a “Proposal of TON Tokenomics Optimization” that sought community input on whether or not to freeze inactive Genesis mining wallets after 48 months. Due to the fact that they contain more than 20% of the whole supply of $TON, these wallets were causing a great deal of anxiety in the community. By voting “Yes” to giving out 171 Genesis wallets, 71% of the community decided to put an end to the uncertainty. More than 1.4 million votes were cast in the election. More than 695,000 $TON holders participated in the second vote, which determined the prize rankings for TON’s recent “Hack-a-TON” x DoraHacks competition. As launch partners, four of the largest projects based on TON have joined Vote dApp post the official launch of the TON.Vote. They include TON Punks, a top NFT and Play-to-Earn project on TON, Fanzee, the fan interaction platform, STON.fi, one of the top decentralized exchanges on TON, EVAA, a decentralized lending protocol, and the Hack-a-TON community vote winner. TON.Vote is integrated with all four dApps to decentralize governance and provide communities with the chance to participate in future decision-making. The Open Network and Orbs are introducing a new age of decentralized governance on one of the most innovative and powerful Layer-1 networks available with TON.Vote.

New Feature Helps Investors Track the Performance of the NFT Market or Specific Market Segments NEW YORK–(BUSINESS WIRE)–Upshot, a firm building financial infrastructure for NFTs and other traditionally illiquid assets, announced the launch of Upshot Indexes, a new feature within the Upshot platform that allows NFT financialization projects to use Upshot’s API to build new financial solutions using indexes. Upshot Indexes function similarly to traditional indexes, enabling users to track a basket of assets, in this case, NFTs. The methodology of these indexes includes considering the market cap of the assets in the collections for weight determination. Market caps are calculated using Upshot’s ML-powered NFT appraisals, providing a more accurate estimate of value than other, potentially unreliable valuation metrics such as floor price. By tracking a basket of NFTs, Upshot Indexes aim to offer tools for developers building NFT financialization projects, allowing those projects to provide diversified exposure and valuable insights into the broader NFT market. “NFT indexes are not a new thing,” said Upshot Co-Founder and CEO Nick Emmons. “There have been several other attempts made – but they tend to fall short because of challenges with pricing accuracy, tracking illiquid NFT markets, and less-than-attractive baskets of NFTs to date. Our NFT index methodologies change all of that, giving projects the ability to quickly and easily develop accurate, flexible, and interesting baskets of NFTs to monitor.” Initial Upshot Indexes: Yuga Index, Art Blocks Index, and PFP Index Upshot is launching three initial indexes that cater to various NFT market segments: Upshot Yuga Index–The methodology behind the Upshot Yuga Index monitors the performance of collections under the Yuga Labs umbrella, weighted by appraisal-based market cap. This methodology captures some of the most liquid NFT collections, enabling developers to offer exposure to verticals such as PFPs, metaverse, generative art, and gaming in a single index. Upshot Art Blocks Curated Index–The methodology behind the Upshot Art Blocks Curated Index tracks the top 20 Art Blocks Curated NFT collections, enabling developers and projects the ability to offer exposure to cutting-edge generative art. Upshot PFP Index–The methodology behind the Upshot PFP Index tracks the top 20 PFP (profile picture) collections, weighted by appraisal-based market cap. This index represents a significant portion of the NFT space, with many PFP projects driving social identity, community engagement, and network value within the digital realm. By utilizing Upshot’s Index API, these index methodologies can be used as a price oracle for the creation of NFT perpetuals and other innovative financial products. This approach allows developers to create instruments that enable investors to gain exposure to a more diversified portfolio of NFTs, reducing the risks associated with investing in individual assets. The value of these index methodologies extends beyond their potential investability. By providing a window into various NFT market segments, they help investors and market participants better understand trends, market dynamics, and the overall health of the NFT ecosystem. Future Developments and Index Expansion While Upshot will not be issuing these indexes as investable products directly, the company is actively exploring partnerships with financial institutions and developers to create ETFs, perpetuals, and other investment products based on the Upshot Indexes. As the NFT market continues to grow and evolve, Upshot plans to expand its index offerings to capture emerging trends and opportunities in the space. For more information about Upshot and Upshot Indexes, please visit https://upshot.xyz/. About Upshot Upshot is a firm building financial infrastructure for NFTs on top of their industry-leading NFT appraisals. By delivering accurate and reliable appraisals in near-real-time, Upshot enables the creation of novel solutions at the intersection of decentralized finance (DeFi) and NFTs – for the industry and themselves. Contacts Nick Emmons [email protected]

ANN ARBOR, Mich.–(BUSINESS WIRE)–PassiveBolt, a trailblazer in self-sovereign identity (SSI) solutions, is excited to introduce Rahul Parthe to their team as a Strategic advisor and investor. Mr. Parthe’s significant acumen in biometric technology and comprehensive understanding of the identity landscape uniquely position him to greatly enhance PassiveBolt’s pursuit of transformative advancements in the digital identity realm. Mr. Parthe has a deep expertise in leading research and development of AI-based biometric algorithms, including innovative contactless fingerprint capture and digital ID technologies for mobile devices developed in his role as a CTO at TECH5. A combination of sustained investment and single-minded dedication to the development of biometric modalities that capitalize on AI has resulted in algorithms developed by Mr. Parthe and his team being consistently ranked in the top tier of NIST ranking for face, fingerprint, and iris recognition technologies. As the Co-founder, Chairman and Chief Technology Officer at TECH5 Group, an innovator in the field of biometrics and digital identity management, Mr. Parthe has been instrumental in fostering innovation and developing disruptive biometric and digital ID offerings through the application of AI and Machine Learning technologies. His far-reaching experience and future focused insights have been crucial in propelling TECH5 to an industry-leading position. Mr. Parthe continues to play one of the key roles in the organization. Mr. Parthe was the key biometric system architect of UIDAI program which has enrolled more than 1.4B identities till date. He is also the lead architect for Indonesia National ID that now holds 206 million tri-modal enrollments and is also involved in several other large scale identity programs. Other leading organizations where Mr. Parthe was or is involved as a visionary and a technology architect include Identix, L1 Identity Solutions, Securimetrics, Morpho, TOTM Technologies, and InterBio. As a Strategic advisor at PassiveBolt, Mr. Parthe will use his strategic foresight and expertise to augment PassiveBolt’s commitment to equip individuals with secure, privacy-enhanced digital identities. “Rahul Parthe’s addition to our team as a strategic advisor is an exhilarating development,” noted Kabir Maiga, CEO of PassiveBolt. “His profound grasp of biometrics and identity solutions perfectly aligns with our company vision. Rahul’s guidance and support will be pivotal in further developing our KeyShare platform and encouraging broad-scale adoption of SSI solutions.” Mr. Parthe, driven by a passion for inclusion in the identity space, believes that integrating his various activities with PassiveBolt’s KeyShare platform could lead to broad-based benefits that address inclusion challenges and serve both developed and developing countries. “I’m intrigued by PassiveBolt’s innovative approach on self-sovereign identity and their dedication to privacy and security. I eagerly anticipate working closely with the team to expand the potential of the KeyShare platform beyond physical access control and expedite its acceptance.” The appointment of Rahul Parthe as a strategic advisor solidifies PassiveBolt’s leadership in the self-sovereign identity domain. Mr. Parthe’s participation sets the stage for developing a unified solution for both physical access control and government digital ID, with an eye on future integration of payment systems. Earlier this year, PassiveBolt and TECH5 announced their partnership. Combining their efforts, technology, and expertise, the two companies may bring to the market a strong next-generation technology for decentralized digital identity issuance and management. This collaboration aims to drive digital identity advancements, benefiting various sectors worldwide, notably in emerging markets like Africa and Latin America. About PassiveBolt: PassiveBolt is a trailblazing technology firm at the forefront of self-sovereign identity implementation within the security industry. The company has notably conceptualized, developed, and launched the first-of-its-kind Web3 decentralized identity platform, which effectively employs verifiable credentials (or attestations) to control access to physical spaces. Their groundbreaking approach is transforming the digital identity paradigm, enhancing individuals’ capacity to manage and govern their personal information securely and effectively. Contacts Sheena Monnin VP of Marketing, PassiveBolt Email: [email protected]

In the last 24 hours, Binance recorded a netflow of $521 million. At press time, the exchange’s total balance across different chains is $51.2B. Cryptocurrency exchange Binance had been through one of the worst turbulent outflows in the past week due to the SEC lawsuit. Reportedly, the exchange remarkably recorded a positive netflow of $521 million, as per data from the Web3 analytics tool 0xScope. Binance Total Portfolio Balance (Source: 0xScope) In the last 24 hours, Binance witnessed an inflow of $1.37 billion and dominated the outflow of $829.9 million. This increase in inflows eventually confirms the fact that Binance regained the confidence of traders and investors. Most of the assets were held on the Ethereum blockchain, followed by Tron, Bitcoin and BNB Chain. Chain Total Balance (24H) Balance Allocation (%) Ethereum $20,160,558,552.14 39.33 Tron $15,261,439,524.79 29.77 Bitcoin $9,872,892,565.20 19.26 BNB Chain $4,340,833,976.16 8.47 Arbitrum $1,037,031,628.25 2.02 Polygon $267,801,461.06 0.52 Optimism $263,799,043.43 0.51 Binance’s Balance Across Multiple Chains The 24-hour window does reflect the positive stance of the crypto exchange. However, over the past week, it experienced a net outflow of $6.4 billion and a recessive net inflow of $5.36 billion. In the weekly time frame, a negative netflow has been recorded. Recommended For You: Binance Confirms the Return of Bitcoin Button Game