News of cryptocurrencies of the 4th week of June 2024

Bitcoin Rate Falls Below $61,000: Market Analysis and Key Updates

The cryptocurrency market has experienced a bearish turn with Bitcoin's rate falling below $61,000. This drop has significantly impacted the market, including major players and other top cryptocurrencies. Below are key updates and analyses on the current state of the market:

Bitcoin and Overall Market Trends

• Bitcoin's Fall: Bitcoin's rate dipped below $61,000, leading to a notable decrease in activity among major players in the derivatives market. This drop has also caused a general decline in the cryptocurrency market.
• Solana's Hit: Among the top ten coins, Solana experienced a significant drop, falling by 15% to $124.
• Market Sentiment: The fear and greed index for the cryptocurrency market fell to 30 points on June 25, marking the lowest value since September 2023. Analysts predict that if Bitcoin drops below $54,000, the market may enter a more prolonged bearish phase.

Factors Contributing to the Drop

• Mt.Gox Trustee Payments: Analysts attribute the recent drop to the news that the trustee of the bankrupt Mt.Gox exchange plans to begin compensating creditors in Bitcoin, Bitcoin Cash, and cash starting in July. Preparations for these payments include technical support, compliance with international regulations, and coordination with crypto exchanges.

Security Concerns in the Crypto Space

• TON Ecosystem Phishing Attack: The Open Network (TON) ecosystem suffered a large-scale phishing attack, targeting owners of cryptocurrencies and NFTs. Scammers distributed malicious links and bots in Telegram groups, posing as airdrop announcements. To protect against such attacks, users are advised to enable two-factor authentication.
• Ethereum Foundation Phishing Warning: The Ethereum Foundation reported a hack of its SendPulse newsletter account, leading to a phishing campaign. Hackers attempted to deceive users with a fake collaboration between the Ethereum Foundation and Lido, offering false promises of returns on locked assets.

Developments in Blockchain Technology and Ecosystem Support

• Solana Foundation Tools for Blockchain Transactions: The Solana Foundation introduced new tools to facilitate cryptocurrency payments and blockchain transactions across various platforms. The Solana Actions APIs allow users to preview, sign, and send transactions through QR codes, buttons, or widgets on websites and apps. This tool aims to streamline blockchain interactions and ensure secure transactions.
• BNB Chain Support for Meme Tokens: BNB Chain announced the "Meme Heroes" program, dedicating $900,000 to support liquidity pools for promising meme projects. Criteria for project selection include locked liquidity, token supply distribution, and security audits. BNB Chain aims to reinvest income from these pools back into the ecosystem.

Conclusion

Despite the bearish trend and security challenges, the cryptocurrency market continues to evolve with new tools and support programs aimed at fostering growth and security. Market participants are advised to stay vigilant and informed about the latest developments and potential risks.