A quick overview of crypto market news last night and this morning (June 23-June 24)

Hey, I'm an old friend of CoinRebate, and I've been in the market for another day. In the currency circle, news is faster than the wind, and you can miss hundreds of millions (or lose hundreds of millions) if you are not careful. Today, I will tell you what is worth keeping an eye on in the past 24 hours, from airdrops to institutional manipulation, to macro wind directions, to help you clearly understand the pulse of the market.

Old Leek's random thoughts: No matter how busy it is outside, remember that trading must be done at a regularly licensed major exchange. Binance, OKX, and Bybit are your home venues. What are the high returns on Pheasant Platform? It's probably a sickle that defrauds you of your capital! Brothers who haven't registered yet, hurry up and use our exclusive invitation code to get the permanent handling fee discount. What you save is real money. It's not a shabby thing to do.

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1. New projects and market dynamics: airdrops, new launches, contract liquidation

1. Midnight Network announced the details of the "Glacier Airdrop". Can this wool be harvested?

Coindesk has just revealed that the privacy chain project Midnight Network has launched a project called "Glacier Drop", releasing their native token NIGHT in three stages.

• Phase 1 (Claim Period): Starts in July and lasts for 60 days. As long as you have at least US$100 of designated ecological tokens (involving 8 chains including BTC and ETH) in your wallet at the time of the snapshot, you can apply for all airdrop quotas. To put it simply, it is the welfare of currency holders.
• Phase 2 (Treasure Hunting Mine): 30 days. Tokens that no one claims will be redistributed to players doing computing tasks through a mechanism similar to proof of work. It's a bit like mining.
• Phase 3 (Lost and Found): After the mainnet goes online, it will last for four years. Original qualified users who failed to catch up in the first two phases can also verify and retrieve part of their quota. The design is quite user-friendly, but don’t expect too much. In order to prevent the tokens from crashing all at once, NIGHT will be randomly unlocked four times within 360 days. The qualification inquiry is now open, go and see if you are eligible!

2. Multiple new tokens are listed on mainstream exchanges. Is this an opportunity or a trap?

• Coinbase is going to list Sonic (S): Coinbase has announced that it will list Sonic (S) after 9 a.m. Pacific time on June 24th, provided there is sufficient liquidity. Knock on the blackboard: You must go through official channels for operations. Don’t slip into the wrong network. It’s too late to cry if your assets are lost.
• Binance launches Newton Protocol (NEWT): NEWT becomes the 24th project of Binance HODLer airdrop. From June 14th to 17th, for those who locked BNB in ​​Binance Simple Earn or on-chain products, the airdrop has already arrived. NEWT will be officially listed on Binance for trading at 14:00 (UTC) on June 24.
• Binance Alpha launches Mango Network (MGO): MGO has been launched on the Binance Alpha platform, and eligible users can use Alpha Points to receive airdrops.

**Want to get your hands on the new coins of these major firms as soon as possible? The account must be prepared first! **

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3. Another spike in the contract market, the giant whale lost US$2.86 million overnight!

In the past 24 hours, the total contract liquidation amount across the entire network has reached 360 million US dollars. It’s tragic that both longs and shorts have been killed. BTC exploded to 106 million, and ETH exploded to 125 million. This market situation once again reminds us that the leverage of the contract looks attractive, but it can also be really fatal when it explodes.

• Whale Operation Record: When BTC rebounded in the early morning, AguilaTrades liquidated 20 times the short position of 1,425 BTC, resulting in a direct loss of US$2.869 million. As a result, people went long on the backhand, and now the floating profit is 2.437 million. This kind of knife-edge licking operation is enough for us ordinary players to see. Don't learn it. The capital is not thick enough and will return to zero in minutes.

**If you insist on playing with contracts, remember, only do it on large risk control platforms, and use discount codes to reduce the cost first! **

• Register Bybit, use the recommendation code ODXBWMN: [Click this secure link to register and enjoy a 20% handling fee discount] (https://www.bybitglobal.com/invite?ref=ODXBWMN) - Start with a contract and have a smooth experience.
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2. Institutional and capital trends: Traditional big players enter the market, and BTC reserves become popular

1. Traditional capital accelerates its entry into the currency circle

• Hong Kong VMS Group is first involved in the crypto field: This multi-family office, which manages nearly US$4 billion in assets, plans to invest up to US$10 million in decentralized hedge fund Re7 Capital. Traditional wealth management institutions can no longer sit still, and everyone wants to take a bite of the digital asset cake.
• Former hedge fund executives want to build a BNB reserve listed company: The former Coral Capital executive team plans to raise US$100 million to invest exclusively in BNB through a Nasdaq-listed company, and also wants to change the company's name to Build & Build Corporation. If this happens, it will be the first listed company with BNB as its core reserve. CZ quickly came out to clarify, saying that BNB is a native asset of the public chain and has no direct relationship with Binance CEX.
• Multiple project financings have been weak:
• DeFi infrastructure company Veda raised 18 million, led by CoinFund.
• MegaETH-based DEX GTE completed a 15 million Series A round, led by Paradigm.
• Crypto venture capital fund Frachtis (specializing in AI+blockchain) raised 20 million.
• Multi-chain DeFi infrastructure Blueprint Finance raised 9.5 million, with participation from YZi Labs and others.

2. The “Bitcoin Reserve” strategy is so popular that institutions are hoarding it

Listed companies and institutions use Bitcoin as a reserve asset, and this trend simply cannot stop:

• Texas Government: The governor signed a bill to directly allocate US$10 million to buy Bitcoin, becoming the first state in the United States to build a crypto reserve with real money. Hardcore!
• Brazilian listed company Méliuz: Spent approximately US$28.61 million, buying 275.43 BTC at an average price of US$103,864, with a total position of 595.67 BTC.
• American luxury car restorer ECD: It has received US$500 million in equity financing and is preparing to launch a Bitcoin treasury strategy.
• 5G chip company Sequans: Plans to raise approximately US$384 million in private placements to build Bitcoin reserves.

3. Circle’s market value soars, almost catching up with Coinbase

The share price of stablecoin issuer Circle (CRCL) once reached $298 during trading on Monday, with a fully diluted market value of more than $77 billion, almost approaching the market value of the exchange Coinbase. Since its IPO, Circle’s stock price has risen nearly 600%. The market believes that this shows that mainstream capital is increasingly recognizing the encryption infrastructure sector.

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3. Regulatory and macro news: The United States loosens restrictions and Europe promotes a digital euro

1. There are positive signals from US regulations, and it may be easier for banks to serve crypto companies

• Federal Reserve Removes "Reputational Risk" Review Item: The Federal Reserve announced that it will remove "reputational risk" from bank review standards and use more specific financial risk indicators. The industry believes that this may alleviate the resistance of banking service encryption companies and be regarded as a small victory for the US encryption industry on the issue of "de-banking".

2. Europe promotes digital euro, Lagarde urgently urges legislation

• Lagarde calls for legislation: European Central Bank President Lagarde has urged EU lawmakers to quickly establish a legal framework to pave the way for a digital euro.

3. Geopolitics stirred up the market, and Iran’s currency depreciated by more than 20%

• Iran situation: News about the ceasefire agreement has changed back and forth, and market uncertainty has increased. There are reports that the Iranian currency, the rial, has devalued by more than 20%. Geographical conflicts are still a major external factor affecting market risk sentiment, and we must keep an eye on them.

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4. Security reminders and industry events: Phishing attacks occur frequently and funds continue to flow in

1. Security Alert: Trezor was hacked, fake Coinbase customer service stole 4 million

• Trezor contact form under phishing attack: Hardware wallet manufacturer Trezor issued an announcement saying that the contact form has been abused to send phishing emails. Remember the iron rule: No official will ask for your mnemonic phrase or private key! Don’t share these online, it’s all over if you lose them.
• Fake Coinbase customer service fraud occurred in New York: On-chain detective ZachXBT broke the news that a fraud gang set up a call center to induce users to create wallets on phishing websites, and more than 4 million US dollars have been stolen. For all operations, make sure to check the official website and app, and don’t trust unknown calls!

2. Industry data: Capital inflows for ten consecutive weeks, Ethereum hits record

• Continuous inflow of funds: CoinShares report shows that digital asset investment products saw a net inflow of US$1.24 billion last week, marking the tenth consecutive week of net inflow. Bitcoin and Ethereum products attracted $1.1 billion and $124 million respectively. Ethereum has experienced nine consecutive weeks of capital inflows, the longest record since 2021.

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Written at the end: Old Leek’s Survival Guide

The market is bustling, but there are also as many pitfalls as a hornet's nest. As ordinary players, we have to be smarter:

1. Choose the battlefield: Only play on top formal exchanges such as Binance, OKX, Bybit, Bitget, Gate.io, and don’t touch the Pheasant platform.
2. Gather enough wool: When registering, be sure to use the permanently valid invitation code to reduce the transaction fee. The money saved in the long term will be enough for you to cook many barbecues.
3. Control risks: Especially for contracts and new project airdrops, learn first and then try. Don’t go all-in. If the principal is gone, everything will be in vain.

For those of you who haven’t boarded the train yet, hurry up and register, grab your spot first, and get the discounted rates:

• Register on Gate.io, use the recommendation code UQJBUVo: [Click this secure link to register and enjoy a 30% discount on handling fees] (https://www.gatesite.cloud/signup/UQJBUVo?ref_type=103) - A long-established exchange with great discounts.

Stay safe, and trade smart! See you in the next quick review. Remember to come back often, there is always something new in the market.

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