Solana shifts its focus from DeFi to consumer applications. Differentiation and user retention are crucial for Solana’s growth. Solana’s journey presents a striking contrast in an era where decentralization dominates. Besides its initial success in Decentralized Finance (DeFi), Solana’s total value locked (TVL) saw a depreciation since the dawn of 2022. Consequently, this downturn does not equate to a demise. Instead, it reflects a significant shift in Solana’s strategic focus, veering from DeFi toward consumer applications. Solana’s TVL vs Competitors’ TVL (Source: Messari) Significantly, this transition reflects changing user preferences. As per Messari’s report, the platform’s user activity observed a decline in DeFi applications, with a corresponding surge in consumer protocols. The key players driving this shift offer insights into Solana’s current state and illuminate its potential future. Championing New Spaces: NFTs and Consumer Apps Take tensor_hq, for instance. This leading NFT trading platform on Solana has made waves in the NFT community. Its innovative features, feeless trading, and unique airdrop mechanism have caught significant attention. Moreover, the rise of NFT lending platforms like SharkyFi has altered the financial dynamics surrounding NFTs on Solana, demonstrating impressive retention rates. Additionally, Solana houses Saydialect, a messaging platform that capitalizes on the network’s NFT compression capabilities. With its high retention rates and new partnerships, Saydialect epitomizes the potential for consumer applications within Solana’s ecosystem. Navigating the Future: Differentiation and User Retention Solana’s journey from DeFi protocols to consumer-centric applications indicates a transformative shift in its application ecosystem. The platform’s infrastructure advantages and low unit costs position it favorably for consumer apps. However, for Solana to sustain growth and retain its competitive edge, differentiation, and user retention emerge as pivotal factors. To sum it up, Solana’s strategy to embrace unique user experiences instead of solely focusing on DeFi protocols marks a significant evolution in the crypto landscape. With an eye on emerging consumer applications, Solana is carving a new niche in the crypto world. Time will tell how this transition shapes Solana’s future and the broader blockchain industry.

New York City, New York, June 15th, 2023, Chainwire Panelists included OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris and director, producer and screenwriter Stephen Kay From left to right: Director, producer, and screenwriter Stephen Kay; McLaren Racing CEO Zak Brown; Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain; OKX CMO Haider Rafique; and McLaren F1 Driver Lando Norris discuss the power of technology in sports, film and crypto OKX, a leading Web3 technology company, yesterday hosted a panel discussion with McLaren Racing at the Tribeca Festival titled, “Need for Speed: How Technology Powers Change in Sports, Movies, and Crypto,” featuring OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris, and director, producer and screenwriter Stephen Kay. The panel, moderated by Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain, was held at the Tribeca Screening Room and focused on how technology has transformed various industries, including sports, entertainment, cryptocurrency and finance. During the discussion, the panelists emphasized the impact of innovation on speed, performance and efficiency across the different sectors. OKX CMO Haider Rafique (left) and McLaren F1 Driver Lando Norris (right) McLaren Racing CEO Zak Brown (in orange, left) and McLaren F1 Driver Lando Norris (in orange, right) with OKX CMO Haider Rafique Tribeca Festival 2023 is OKX’s second consecutive year as the presenting sponsor. The company’s multi-year partnership with Tribeca Festival aims to unlock new Web3 opportunities for creators, fans and talent. OKX also introduced the first-ever Tribeca Festival NFT pass for 2023 in January. In May of last year, OKX and McLaren Racing announced a multi-year partnership that would make OKX a Primary Partner of the McLaren Formula 1 Team and McLaren Shadow esports team. Through this partnership, OKX supports the team’s global fan experience, providing exciting opportunities and product innovations that bring fans closer to the action. OKX branding is featured on the McLaren cars, the helmets of McLaren F1 drivers Lando Norris and Oscar Piastri, as well as the McLaren F1 and McLaren Shadow team kits. About OKX A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace and DEX. OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo. As a leader building innovative technology products, OKX recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems. To learn more about OKX Web3, download our app or visit: okx.com/web3 About McLaren Racing McLaren Racing was founded by racing driver Bruce McLaren 60 years ago in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt. McLaren Racing competes across five racing series. In 2023, the team will compete in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Felix Rosenqvist and Alexander Rossi, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers René Rast and Jake Hughes, and the Extreme E Championship with NEOM McLaren Extreme E Team drivers Emma Gilmour and Tanner Foust. The team also competes in the F1 Esports Pro Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships. McLaren is a champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry. McLaren Racing – Official Website About the Tribeca Festival The Tribeca Festival, presented by OKX, brings artists and diverse audiences together to celebrate storytelling in all its forms, including film, TV, immersive, games, audio storytelling, music, and online work. With strong roots in independent film, Tribeca is a platform for creative expression and immersive entertainment. Tribeca champions emerging and established voices; discovers award-winning filmmakers and creators; curates innovative experiences; and introduces new technology and ideas through premieres, exhibitions, talks, and live performances. The Festival was founded by Robert De Niro, Jane Rosenthal, and Craig Hatkoff in 2001 to spur the economic and cultural revitalization of lower Manhattan following the attacks on the World Trade Center. Tribeca will celebrate its 22nd year from June 7–18, 2023. In 2019, James Murdoch’s Lupa Systems, a private investment company with locations in New York and Mumbai, bought a majority stake in Tribeca Enterprises, bringing together Rosenthal, De Niro, and Murdoch to grow the enterprise. Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your risk tolerance and financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Contact Press [email protected]

LayerZero achieves a significant industry milestone by launching on Scroll_ZKP testnet. The integration of LayerZero with Scroll_ZKP sparks enthusiasm, transforming blockchain transactions. The successful launch of Scroll_ZKP testnet marks a pivotal step towards real-world implementation for LayerZero. LayerZero, the cutting-edge blockchain project, has achieved a monumental milestone in the industry by successfully launching on the Scroll_ZKP testnet. This groundbreaking development signifies a significant leap forward for privacy and security in the blockchain world. Integrating LayerZero with Scroll_ZKP, a state-of-the-art zero-knowledge proof protocol, has ignited a wave of excitement among blockchain enthusiasts and experts alike. By leveraging the advanced privacy features of Scroll_ZKP and the innovative technology of LayerZero, this collaboration has the potential to transform the landscape of blockchain transactions completely. LayerZero’s primary objective is to tackle the critical scalability, privacy, and usability challenges that have hindered widespread blockchain adoption. By harnessing the power of Scroll_ZKP’s zero-knowledge-proof capabilities, LayerZero offers a unique and decentralized approach to upholding privacy. This groundbreaking feature allows users to validate transaction authenticity and accuracy without compromising sensitive information, ensuring privacy even in a transparent environment. As a result, LayerZero’s integration with Scroll_ZKP lays the groundwork for secure and private blockchain transactions on a large scale. The launch of LayerZero on the Scroll_ZKP testnet is a pivotal step toward real-world implementation. The platform is now available for developers and enthusiasts to explore and provide valuable feedback for further refinement. This collaborative approach aims to optimize LayerZero’s architecture, ensuring a robust and reliable solution that caters to the broader blockchain ecosystem. LayerZero Boosts Adoption with Ultra-Low Costs Consequently, LayerZero’s privacy-centric approach is set to instill trust among users, enterprises, and governments, unlocking numerous potential applications for blockchain technology. Whether facilitating financial transactions, streamlining supply chain management, or enabling secure data sharing, LayerZero’s integration with Scroll_ZKP opens doors to a future where privacy and scalability coexist on the blockchain. This follows after LayerZero announced the integration of LayerZero Labs on the Arbitrum Nova mainnet, enabling ultra-low transaction costs. This integration actively promotes the adoption of Arbitrum Nova, especially within the gaming space, where it has the potential to increase usage significantly. As LayerZero’s ecosystem continues to evolve and gain traction, the team remains dedicated to ongoing enhancements, including mainnet deployment and strategic partnerships. The successful integration with Scroll_ZKP marks the beginning of an exciting new chapter for LayerZero, propelling the project toward a future where privacy and scalability take center stage in the blockchain realm. Recommended For You: LayerZero Labs Bridges Projects to Arbitrum Nova; Empowers Gaming Adoption

Shytoshi Kusama has tweeted about an upcoming update for Shiba Inu. Kusama has sparked anticipation regarding this physical update. Shytoshi Kusama, the creator of the popular memecoin Shiba Inu (SHIB), has tweeted about an upcoming update. The mysterious tweet has sparked anticipation and curiosity among crypto enthusiasts. Memecoin has gained significant attention in the crypto community. On June 14, Shytoshi Kusama hinted about the upcoming memecoin update. He mentioned that something physical was coming. The tweet includes a teaser of the final shot, showcasing the Shiba Inu logo in black and white. Kusama has sparked a wave of speculation and anticipation regarding this physical update. His influence and involvement have captivated investors and enthusiasts. The Shiba Inu ecosystem has signaled a new physical product that expected to be released shortly. Many members of the SHIB community not surprised by this, as Kusama previously stated that he would share many updates in addition to details on the official launch of Shibarium. At the time of writing, the trading price of the Shiba Inu is around $0.000006559, with a decline of 3.43% in the last 24 hours. Moreover, the trading volume of the SHIB has witnessed a decrease of 3.94%, according to CoinMarketCap.

Bitcoin price decreases by 3.12% compared to the last 24 hours. Bitcoin miners are facing difficulty due to increased hash rates. The topmost cryptocurrency, Bitcoin (BTC) has seen a deep fall from nearly $30K to the value of $25,137.80, currently. Meanwhile, before 2 hours, BTC has fallen below $25K ranging to $24,902.15 when its trading volume was reported at $11.95 billion. BTC Price Chart (Source: CoinMarketCap) Furthermore, 92.39% of BTC exists in the current circulation from its total supply of 21M BTCs. The trading volume is maintained green, indicating an engagement in BTC trading with a 0.46% increase at the time of analysis. However, the market capitalization is seen to drop by 3.22% worth $487B, ranking the top position in the crypto market. On the other hand, Bitcoin miners are facing difficulty by 2.18%, defending with the increased hash rate. This creates huge competition among miners since the record crosses 52.35 trillion. Yet, crypto investors rely on trading BTC despite difficulties and drops. It is considered that the Federal Reserve (Fed) announcing the halt of interest rate hikes at 5.25%, could be the reason for BTC’s sudden drop below $25K at the moment. Till then, BTC was fluctuating at $26K. Recommended For You: Decoding Bitcoin’s Trading Pattern for June 2023

The crypto market is currently surging with the altcoins. The current top gainers include TWT, UNI, and LEO. Recently, the crypto market is been facing a downfall due to the SEC lawsuit against the crypto exchanges. Yet, some of the crypto gainers kept growing amidst the global crypto market loss at certain times. Here are the top three crypto gainers and the list goes Trust Wallet Token (TWT), Uniswap (UNI), and UNUS SED LEO (LEO). Trust Wallet Token (TWT) This governance token has gained popularity in recent times with its effective surge. Currently, as per CoinMarketCap, TWT is pricing at $0.8402 over a 12.89% increase compared to the previous day’s value. Also, the market capitalization is skyrocketing by 12.39% whereas the trading volume is abruptly huge by 431.49% ranking at the 4th position. TWT Price Chart (Source: CoinMarketCap) This records that the circulating supply has crossed more than 40% and is accounting for 416,649,900 tokens. However, this depicts that the graph is maintained green over the last 24 hours, retaining a bullish state. Uniswap (UNI) Over the week, UNI is turning bullish with a price value of $4.44 with a 4.22% increase in the last 24 hours. And, the graph is pointing upwards with the market capitalization of around $3B with a 2.98% increase. The trading volume is accounting for $120M and the surge compared to the last day, is higher. UNI Price Chart (Source: CoinMarketCap) Reportedly, the current circulating value of the UNI token has crossed 57.75% from its overall. Furthermore, the supply counts 577,501,036 tokens in the current market. UNUS SED LEO (LEO) This LEO token has begun showing bullish momentum among the other altcoins lately. Additionally, the market capitalization of LEO accounts for $3B resembling UNI but the price increase over the last 24 hours is 0.70%. Meanwhile, the trading volume has fallen by 7.16% comparatively yet the graph remains truly green for the last 24 hours. The current market price of LEO is $3.51 as per CoinMarketCap. LEO Price Chart (Source: CoinMarketCap) However, the supply of LEO has no limit. And, the circulation supply accounts for 930,107,434.9 tokens from its total supply so far. Whenever the altcoin season falls, there are certain other tokens that bring activity to the crypto market.

Delio has announced a temporary suspension of customer withdrawals. The company reassured its investors that it would do its best to protect their assets. Delio, the leading crypto lending company in South Korea, has announced a temporary suspension of customer withdrawals. This decision has been made in order to safely protect the consumer’s assets. On June 14, Delio announced that it had temporarily suspended customer withdrawals. Delio mentioned that the company has to take this measure due to the recent suspension of digital asset deposits and withdrawals at Haru Invest. This leads to heightened market volatility and increases confusion among investors. Haru Invest, a digital asset management platform in South Korea, announced the suspension of withdrawals and deposits on June 13. The decision comes due to concerns over the false information provided by the consignment operator during an internal inspection. Delio Assures Safeguard Investor Assets According to the report, the suspension will continue until the incident and its aftermath are resolved. Delio’s temporary suspension raised a lot of questions among the crypto community. However, the company reassured its investors that it would do its best to protect their assets. Delio has promised its clients that it will provide regular updates on the suspension through announcements and steps taken to protect the customer’s assets. By prioritizing the safety of customer funds, the company is taking responsible steps to mitigate any potential risks and maintain the integrity of its platform. The issues that Haru Invest is facing have started to spread to other platforms in South Korea. As a result, Delio has announced the suspension of customer withdrawals. While this temporary suspension may cause inconvenience, it serves as a precautionary step to protect its clients’ digital assets.

The staggering surge in L2 adoption on The Graph Network, powered by Arbitrum. Significant cost reduction and faster data access through L2 integration. The Graph’s reliability and cost-effectiveness drive innovation in DeFi. The Graph, a decentralized network known for its remarkable uptime and secure data, has witnessed a staggering surge in utilizing Layer2 (L2) solutions for subgraphs. The integration of Arbitrum has proven instrumental in enabling decentralized applications (dapps) to access data faster and at a fraction of the previous cost. The Graph Network, which was launched in 2020, has experienced a remarkable growth trajectory. Since its inception, 863 subgraphs have been published on the Ethereum blockchain, attesting to the platform’s widespread adoption and effectiveness. Over the past six months, the integration of L2 technology, specifically through Arbitrum, has fueled an even more impressive expansion. More than 180 subgraphs have already been published on The Graph Network, demonstrating a rapid acceleration in activity. This trend shows no signs of abating; it is gaining momentum at an unprecedented pace. Incorporating Arbitrum has yielded numerous benefits for users of The Graph Network. Notably, adopting L2 has enhanced the speed of data retrieval and significantly reduced the associated costs. Dapps leveraging Arbitrum have experienced a remarkable 25-fold decrease in expenses for publishing, curating, and upgrading subgraphs, providing substantial savings for developers and users alike. Graph Network Leads with L2 Integration Moreover, integrating L2 solutions has bolstered the network’s overall reliability. The unbeatable uptime and secure data storage provided by The Graph, in conjunction with Arbitrum, have instilled trust and confidence among users. The reliability and cost-effectiveness of the platform have created an ecosystem that encourages innovation and development within the decentralized finance (DeFi) space. However, it is essential to note that the growth and success of The Graph Network are not solely attributable to L2 integration. The platform’s initial launch and subsequent adoption paved the way for this remarkable advancement. The Graph’s commitment to offering reliable infrastructure for indexing and querying blockchain data has positioned it as a fundamental pillar in the decentralized ecosystem. Besides its impressive achievements thus far, The Graph Network continues to explore additional avenues for expansion and improvement. As the adoption of decentralized applications and blockchain technology continues to rise, The Graph remains at the forefront, ensuring that its infrastructure can accommodate the ever-growing demand. With the integration of L2 solutions like Arbitrum, The Graph Network has solidified its position as a leader in providing essential services to the blockchain community.

Litecoin’s year-to-date return reveals a bearish trend despite early gains. 24-hour analysis indicates continued bearish momentum, reducing market capitalization. The upcoming halving event stirs anticipation, potentially impacting Litecoin’s market value. Litecoin, often dubbed the silver to Bitcoin’s gold, has made strides in the financial world since its inception. Significantly, this year, it exceeded all expectations, hitting an awe-inspiring 25 million transactions. With the promise of quick confirmation times and a sturdy network, it’s no surprise that Litecoin ($LTC) is on a steady and consistent growth path. However, this is more than just a statistic – it’s a testament to the trust and reliance users have bestowed upon Litecoin. It also indicates the broader acceptance of digital currencies, a trend that is undoubtedly here to stay. Year-to-date Return Analysis According to Cryptorank data, January started strong, with Litecoin registering a remarkable 34.5% return. Consequently, investor interest spiked, nudging the coin to touch higher highs of $102.51 in February. However, the wind began to shift as we moved into February and the following months, signaling the bears’ entry into the Litecoin market. As a result, Litecoin dipped by 0.58% in February, followed by a 4.52% fall in March and a 1.1% slide in April. Despite these consecutive drops, May offered some respite with a marginal gain of 2.32%. Yet, the tide turned again in June, with a substantial decline of 14.7%. Litecoin Chart (Source: Cryptorank) On the contrary, Cryptorank analysis further suggests that the digital currency reached higher highs of $102.51 and $101.80 in February and April. However, a thorough 24-hour price analysis based on Coinmarketcap data paints a different picture. 24-Hour Market Performance: A Bearish Shift June continues to be a challenging month for Litecoin. As per Coinmarketcap data, Litecoin started the day with a reasonable opening price of $77.3504. The coin, however, could not hold its ground. It traded sideways for most of the day before the bears took charge. Litecoin 24-Hour Chart (Source: Coinmarketcap) As the day unfolded, Litecoin witnessed a sharp 6.23% decline, dragging its value to $72.72. Moreover, this bearish momentum further pulled down the market capitalization by 6.22% to $5.3 billion. The 24-hour trading volume also dropped 10.33% to $301 million. Halving Anticipation and Price Volatility With anticipation mounting for the Litecoin halving event, slated for just 50 days from now, investors are keenly watching the market. Significantly, the halving event typically sparks interest and fuels price movements. Consequently, investors, traders, and enthusiasts alike are eager to see how this will impact the currency’s value and the broader market.

The U.S. SEC said it had not yet determined what to do about the rulemaking petition. The SEC has responded to the court’s order from June 6 asking for a reply. The Securities and Exchange Commission (SEC), the top financial regulator in the United States, responded to Coinbase’s writ of mandamus on Tuesday. It would seem that the commission is not in the mood to issue sensible new rules. According to the court document, the U.S. SEC said it had not yet determined what to do about the rulemaking petition. The order, it was noted, makes reference to SEC Chair remarks and enforcement actions but does not indicate a determination to reject the exchange’s rulemaking petition. The commission has requested an extension of time before it must respond to the request for crypto-related clarification. No Precise Date Committed Paul Grewal, Coinbase’s chief legal officer, said that the U.S. Securities and Exchange Commission (SEC) has repeatedly stated the falsehood that it has not chosen to move to implement new crypto regulations. Despite a court’s specific ruling, the commission has totally failed to commit to any precise date. Despite repeated assurances from the commission’s chair that new, unambiguous guidelines will be issued, the panel has shown no signs of acting on such assurances. Moreover, the chief legal officer of Coinbase pointed out that the SEC had centered on the evidence of a decision from those statements that argued that the communication was the decision. The SEC has responded to the court’s order from June 6. Asking the commission to state whether it agrees with the regulation, disagrees with it, or wants more time to respond. However, the largest cryptocurrency exchange in the United States, Coinbase, was earlier this month charged with operating as an unregistered securities exchange, broker, and clearing agency by the commission. Recommended For You: BNB Surges 5.44% as Binance Shows Signs of Recovery Amid Legal Battles

A whale transaction of 44K Binance Coin is captured. BNB is bullish by a 4.31% change in price over the last 24 hrs. Following the recent found of the SHIB’s largest whale, another whale transaction activity is reported today. A suspicious whale borrowed Binance Coin (BNB) from Venus, a decentralized finance (DeFi) lending protocol. Meanwhile, the same whale dropped the borrowed BNB to Binance once after the Maverick Protocol announcement launched. After the Maverick Protocol (MAV) launched on the Binance launchpool, this whale deposition occurred. Consequently, the whale has made two depositions on Binance one after the other. As per Lookonchain reports, 44K Binance Coin worth $10.88 million has been borrowed from Venus with negligible gas fees. Meanwhile, the first deposit to Binance accounts for 31.5K BNB with a value of $7,739,550 at $0.02 gas fees. Again, another deposit to Binance accounted for 12.5K BNB worth $3,071,250 with the same gas fees as the previous deposition. Price Analysis of Binance Coin According to CoinMarketCap, the Binance Coin (BNB) remains in green over the last 24 hrs’ price graph with a 4.31% increase. Yet, the trading volume is slightly fallen by 17.14% whereas the market capitalization increased by 4.29% at the time of analysis. The current market price of BNB is $246.77 compared to the previous day. Binance Coin Price Chart (Source: CoinMarketCap) Moreover, the current circulating supply of the Binance Coin is more than 155 million. Considering the monthly price chart, BNB has dropped around 21.13% comparatively. The market capitalization accounts for $38B whereas the trading volume reports $687M. Recommended For You: Binance Coin (BNB) Price Prediction 2023

Egypt seeks BRICS membership and shifts focus to alternative trading currencies. Potential contenders for BRICS expansion include Iran, Saudi Arabia, and UAE. BRICS’ potential currency alternatives could reshape the global economic landscape. Breaking ground on a bold new venture, Egypt has officially applied to join the powerful BRICS alliance. Georgy Borisenko, the Russian Ambassador to Cairo, confirmed this historic development. Based on the sources, Egypt’s primary focus is the shift of trade to alternative currencies, including national currencies or potentially, a new common currency. A Future Beyond the US Dollar Besides its current economic strategy, Egypt is exploring new avenues. As per the country’s supply minister, Egypt is set to settle its trade with the BRICS bloc in national currencies. Consequently, this would replace the current practice of using the US dollar in trade with other major economies like China, India, and Russia. Moreover, Egypt’s interest in the bloc isn’t simply monetary. Borisenko points out that the nation aims to amplify trade with Russia. “New mechanisms are being created for trade transactions,” he remarked. Hence, these innovative initiatives significantly boost economic activity between the two nations. BRICS Membership: A High-Stakes Game Meanwhile, Egypt isn’t the sole nation eager to align itself with the dynamic BRICS alliance. Other prominent countries like Iran, Saudi Arabia, and the United Arab Emirates (UAE) are also vying for a place in this influential bloc. Their diplomats are prepping to make their case at the forthcoming BRICS summit. However, the question of who will secure membership in this powerful bloc—and its New Development Bank—remains open. With the annual summit fast approaching, the discussion about BRICS’ expansion will likely intensify. Additionally, an alternative currency could emerge as a critical point of debate. This pivotal meeting, therefore, holds significant potential to shape the future economic landscape. Significantly, the submission of Egypt’s application may profoundly impact the discourse and decision-making within the BRICS alliance. The upcoming months will reveal whether Egypt’s aspirations to join the coalition will bear fruit.

Ohio emerges as a hub for crypto and blockchain innovation. CHAMPtitles utilizes blockchain to modernize vehicle title management nationally. Coinbase recognizes Ohio’s growth, boosting its influential crypto ecosystem. Recognized as a cradle for the new era of financial systems, Ohio is proving to be a vanguard in the crypto industry. Consequently, Coinbase, the largest crypto exchange in the United States, has taken note of Ohio’s vibrant crypto ecosystem. Significantly, the state hosts a plethora of blockchain projects, with CHAMPtitles standing out for its groundbreaking applications. Embracing Crypto: The Future of Financial Freedom Recent surveys suggest that 20% of Ohio residents own cryptocurrency, signaling the rise of a new financial era. In addition, more than three in five of these crypto owners believe in the potential of crypto and blockchain technology to enhance economic opportunities in ways traditional finance cannot. Coinbase, boasting over one million users in Ohio, encourages the nation to stand with crypto. With homegrown companies like CHAMPtitles driving blockchain innovation, keeping such revolutionary developments in the U.S. becomes crucial. CHAMPtitles Revolutionizes Vehicle Title Management Traditional methods have been fraught with inefficiencies in the vehicle title management landscape. However, CHAMPtitles, an Ohio-based SaaS company, has dramatically streamlined the process. Leveraging blockchain technology, it has transformed a formerly lengthy procedure, with title turnovers taking up to 45 days, into a seamless one-day operation. Additionally, this modernized system eradicates paperwork, reducing errors and costs for all parties involved. As per Coinbase’s blog post, the software developed by CHAMPtitles has seen adoption beyond Ohio. Notably, state governments such as West Virginia have integrated this innovative technology. Moreover, CHAMPtitles has launched its national Title Clearinghouse in collaboration with these states. This entirely digital solution harnesses the power of blockchain to assist car dealers, insurance carriers, fleet operators, and lenders, thus facilitating interstate title transfers. Shane Bigelow, CEO of CHAMPtitles, attributes their success to Ohio’s pro-business and pro-technology stance. Hence, CHAMPtitles is eager to further support Northeast Ohio’s growth through its nationally impactful title platform. In essence, Ohio’s progressive stance has positioned it at the forefront of the crypto revolution. Besides the promise of economic freedom, it exemplifies how embracing new technologies can foster innovation and development at a state level.

Bitcoin surpasses gold with a stunning 430% rise since COVID-19. Resilient Bitcoin outshines gold, gaining 46% year-to-date. Bitcoin’s meteoric rise challenges gold as a safe-haven asset. Gold has always been the traditional safe-haven asset. For generations, investors have resorted to it in times of economic instability. Bitcoin (BTC), however, a digital currency based on advanced mathematics and blockchain technology, is quickly establishing itself as an established rival. Today, one Bitcoin equates to a hefty 13.3 ounces of gold. Consequently, it’s an astounding 46% Year-to-Date (YTD) increase for BTC. This crypto heavyweight is not just about volatility and breathtaking highs; it is becoming a formidable asset class in its own right. Bitcoin Staggering 430% Superiority Since Pandemic-Low The COVID-19 pandemic rattled global economies, causing turmoil in every corner of the financial markets. Despite this, Bitcoin stood tall, demonstrating incredible resilience. Since the pandemic’s low point, Bitcoin’s performance has been miraculous. Significantly, BTC has outperformed gold by an astounding 430%. That’s not just a marginal gain; it’s a substantial leap. This phenomenal surge in BTC’s value speaks volumes about its potential. Additionally, it has elevated the conversation about digital currencies. Investors are taking notice, reevaluating their asset allocations, and sometimes choosing Bitcoin over traditional safe havens. However, it’s essential to acknowledge the risks. Like any asset, BTC has its uncertainties. Its value can plummet as quickly as it can soar. Hence, risk tolerance and diligent research are crucial for anyone venturing into cryptocurrencies. Moreover, while Bitcoin’s rally is impressive, it’s not an endorsement to abandon gold. Both assets have their unique qualities. Besides, diversification remains the key to a balanced portfolio. In conclusion, the BTC versus gold debate is more relevant than ever. Crypto challenges the yellow metal, often leaving it in the dust. It’s an exciting new chapter in the financial markets that we’ll be watching closely.

Brazilian President Lula signs legislation to clarify roles of central bank and securities regulator in cryptocurrency regulation. The new law empowers the Central Bank of Brazil to regulate and supervise virtual asset service providers. Brazil is home to prominent crypto firms. Brazil President Luiz Inácio Lula da Silva, commonly known as Lula, has approved new legislation outlining the responsibilities of the country’s central bank and securities regulator regarding cryptocurrencies. The government decree, numbered 11.563, was signed on June 14 and provides clarity on the legal framework for cryptocurrencies established by a previous law in December 2022. Brazil Central bank to get new power Under the new legislation, the Central Bank of Brazil will be granted the authority to regulate and supervise virtual asset service providers, while the Comissão de Valores Mobiliários (CVM), Brazil’s equivalent to the United States Securities and Exchange Commission, will oversee token projects that qualify as securities. Earlier reports indicated that the CVM was working towards creating a regulatory framework that aligns with the growing volume of cryptocurrency trades in the country and emerging markets. The decree will come into effect on June 20 but will not impact existing laws on consumer protection and financial crimes. The timing of the decree coincides with Brazil’s central bank’s plan to launch a pilot project for a central bank digital currency (CBDC) in collaboration with major payment firms, including Visa and Mastercard. The aim of the project is to test the privacy and programmability features of the CBDC platform in preparation for a potential nationwide rollout of a digital version of the Brazilian real. Brazil, with one of the largest cryptocurrency markets in South America, is home to the prominent crypto exchange Mercado Bitcoin and has licensed foreign payment providers like Crypto.com and Bitso. In March, U.S.-based crypto exchange Coinbase announced its partnership with local firms to facilitate crypto purchases for residents of Brazil.

Polygon and Flipkart have collaborated on an on-chain brand-first loyalty program. The program also plans to explore the launch of a dynamic marketplace. Polygon Labs, the world’s largest blockchain ecosystem, has announced its collaboration with Flipkart, India’s largest online shopping platform, and Hang. This collaboration is for an on-chain brand-first loyalty program that is expected to introduce millions of users to Web3. On June 14, Polygon tweeted about the new collaboration with Flipkart. Through this collaboration, Polygon and Flipkart will offer users the opportunity to get rewards based on their brand loyalty. The brand-first loyalty program named FireDrops 2.0 will revolutionize brand marketing, storytelling, and customer engagement on the Polygon network. Enhanced Customer Engagement on Polygon Network According to the report, Hang’s loyalty platform powers FireDrops 2.0. It will offer Flipkart users a personalized, engaging, and rewarding experience. Moreover, FireDrop uses NFT technology to reward users and provide a better experience. Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, stated He added that the e-commerce marketplace is constantly innovating and evolving. Flipkart recognizes the value of customer loyalty and, more importantly, the emerging space of Web3 loyalty. The integration of NFT technology in FireDrop 2.0 enables easy ownership and the redemption of rewards. Moreover, the program also plans to explore the launch of a dynamic marketplace. It will allow users to buy and sell rewards and improve brand engagement. Polygon Labs continues to expand its ecosystem with the new integration. The collaboration aims to provide users with games, surprises, immersive experiences, and rewards. This helps users engage with their favorite brands in a meaningful way, earning exciting benefits and rewards. Moreover, with the scalability provided by the Polygon network, FireDrops is expected to expand Flipkart’s reach across the Indian e-commerce market.

Bitcoin mining difficulty reaches a record high of 52.35 trillion, reflecting intense competition among miners. The average hashrate of the Bitcoin network is nearing an all-time high. Rising Bitcoin mining difficulty highlights a healthy and active network, but also raises complexity and resource demands. Bitcoin mining difficulty has reached a new record high, as indicated by data from BTC.com. At block height 794,304, the mining difficulty increased by 2.18% to reach a peak of 52.35 trillion. The average hashrate of the entire network, another important metric, is currently at 383.87 exahashes per second, which is close to its all-time high. Mining difficulty is a relative measure of the resources needed to mine new Bitcoin, and it adjusts to maintain an average block creation time of around 10 minutes as more miners join the network. Source: BTC.com Data shows upward Bitcoin mining difficulty This adjustment occurs approximately every two weeks or every 2016 block. A higher difficulty level indicates heightened competition among miners in solving the mathematical problem essential for blockchain block additions. The data shows a general upward trend in Bitcoin mining difficulty throughout the year, with occasional fluctuations. Despite some minor drops in early February and May, the difficulty level has continued to rise, culminating in the recent record high. This increase indicates a robust and active Bitcoin network with growing participation from miners. However, it also implies a more complex mining process, requiring additional resources and computational power.

Post the successful upgrade, LUNC price jumped 8% in the last 24 hours. At block height 13215800, the Terra Classic network was successfully upgraded. Binance, the largest cryptocurrency exchange in the world, said on Wednesday that it would support the major v2.1.1 update to the Terra Classic (LUNC) network after its users voted in favor of Proposal 11561. It will make the blockchain competitive with other Cosmos chains like Terra 2.0. As a result, teams may once again start developing and releasing dApps on the Terra Classic chain. Some CosmWasm components will not work and influence dApps until Google deploys their upgrade, hence the Joint L1 Task Force (L1TF) is waiting for Google to update the Chrome extension. LUNC Price Jumps On June 14th, Binance made it known that they will be supporting the v2.1.1 update for Terra Classic. At block height 13215800, the Terra Classic network was successfully upgraded, today at 13:57 UTC. At 13:00 UTC, Binance will stop accepting Terra Classic (LUNC) network deposits and withdrawals for LUNC and USTC. Users will still be able to trade LUNC and USTC normally throughout the network update. Once the Terra Classic network has stabilized following the update, the cryptocurrency exchange will begin accepting deposits and withdrawals. The Terra Classic network update has the backing of other cryptocurrency exchanges including KuCoin. On Twitter, the project manager for the Joint L1 Task Force, @LuncBurnArmy, broke the news that the upgrade may cause problems for dApps since some parts of wasm will only work after Google updates its Chrome extension. The current online and mobile versions of Station will also keep functioning regularly. The stock price of Terra Classic soared by 15% on Tuesday as investors and whales speculated that the stock would see a massive rise after the upgrade. Post the successful upgrade, LUNC price jumped 8% in the last 24 hours.

Kusama turned to Twitter to show his admiration for Welly’s bold move. Strong rebounds from similar support in the past indicate an approaching bullish rebound. Shiba Inu has lately gained attention for its vibrant community and prominent support. Both the trailer for Rocket Pond and the metaverse enhancements it promised have now been released. Welly’s launch of fully connected stores and Shiba Inu advocate Shannon Bray’s support for the memecoin has got the community excited. The Shiba Inu-centric eatery Welly has announced the opening of two more locations. The Welly team is dedicated to maintaining open communication and user participation, thus they have equipped their new setup to process tokens. This is a bold declaration of Welly’s intention to actively include the Shib community in its business. Moreover, the lead dev of Shiba Inu, Shytoshi Kusama, was thrilled to hear Welly’s news. Kusama turned to Twitter to show his admiration for Welly’s risk-taking. Backing of Prominent Politician At the same time, Shannon Bray, a major US governor contender from North Carolina, has spoken out in favor of Shiba Inu. Despite the market’s uncertainty, Bray tweeted his enthusiasm for the cryptocurrency and his desire to buy SHIB. An esteemed member SHIB KNIGHT from the SHIB community had started a conversation with Bray about how common it is to put money into meme currencies. Upon this, Bray said that he plans to buy additional SHIB tokens. Having complete confidence in the asset despite having other options available to him. On Twitter, analysts have expressed concern that the cryptocurrency is trading too high relative to its support levels and exhibiting oversold RSI readings. Strong rebounds from this support in the past indicate an approaching bullish rebound.

Binance’s native token, BNB surges 5.44%. Ongoing negotiation with SEC fuels BNB price. Binance, the leading cryptocurrency exchange, recently experienced a notable surge in its native token, BNB, putting an end to a prolonged downtrend. BNB witnessed a 5.44% spike today, reaching $248.53 USD, delivering a positive boost to the Binance community. The previous month has been a rollercoaster ride for Binance, with significant price fluctuations causing mostly downs in the market. However, today’s surge in BNB price raises questions about whether Binance is returning to a state of normalcy. BNB PRICE CHART, Source :Tradingview Binance’s Uphill Battle This surge in price can be attributed to various factors, including ongoing negotiations with the U.S. Securities and Exchange Commission (SEC) and the reintroduction of Binance’s popular Bitcoin button game. U.S. District Judge Amy Berman Jackson referred the parties to a magistrate judge to work towards a compromise arrangement that would protect customer funds without necessitating a complete shutdown of the exchange. Her statement, indicating that the two parties were not far from reaching an agreement, further bolstered optimism among investors. In addition to the regulatory progress, the return of the Bitcoin button game might have helped drive up the price of BNB. This engaging game allows users to compete for a chance to win one Bitcoin and other enticing prizes. By reintroducing this popular initiative, Binance encourages user activity and participation. However, it is important to note that despite the recent surge, Binance still faces serious allegations from U.S. authorities, including fraud, securities law violations, and the commingling of customer funds with corporate assets. These legal challenges continue to cast a shadow over the exchange’s operations and may have implications for its future performance. The scheduled update on June 15 will provide valuable insights for investors. Additionally, updates on BEP-126 are expected on the same day. The recent surge in BNB price highlights the impact of ongoing legal proceedings and the engaging initiatives by Binance. Nonetheless, investors remain cautious due to the regulatory challenges faced by the exchange.