DWF Labs to Purchase FLOKI Worth $12 Million
Floki (FLOKI) announced that it will receive a significant investment from crypto trading firm DWF Labs. This development comes after the crypto trading firm announced plans to purchase $12 million worth of FLOKI tokens. According to the announcement made on Tuesday; DWF Labs will split the purchase between purchases from the open market and the Floki project treasury.
More than 1 Million ETH May Enter Spot Ethereum ETFs in the First 5 Months
Analysts at K33 Research predict that the new US spot Ethereum ETFs could attract net inflows of $3.1 billion to $4.8 billion in the first 5 months. Globally, Ethereum ETPs have a significant asset ratio compared to Bitcoin ETPs. Despite the low numbers for US Ethereum futures ETFs, this is attributed to launch timing rather than a lack of demand. CME’s ETH short position indicates strong institutional interest in the US.
Polygon Labs Acquires Leading ZK Engineering Startup Toposware to Lead the New Wave of ZK Technology
Toposware and Polygon Labs announced a major collaboration aimed at advancing ToM proof technology. By joining Polygon Labs, Toposware will drive innovation across several Polygon technologies, including AggLayer, Polygon CDK, and Polygon zkEVM. Toposware’s expertise played a key role in the development of the Type 1 zkEVM prover, which increases the security and connectivity of Ethereum-based chains and reduces costs. This acquisition is expected to significantly impact all Polygon protocols, particularly with ongoing research into upgrading the Polygon PoS network to a ZK secure chain.
Ark Labs Begins Development of New Bitcoin Layer 2 Payment Network
Although the Lightning Network enables faster and lower-cost payments, the complexity of channel and liquidity management has driven many users to custodial Lightning wallets, sacrificing control of their funds. Proposed in 2023, the Ark protocol was a Bitcoin Layer 2 scaling solution that provided self-storage while providing a simpler user experience alongside the Lightning Network. Marco Argentieri, CEO of Ark Labs, stated that Ark is already applicable in Bitcoin, and with the company’s launch, users will immediately benefit from scalable, frictionless transactions.
Bitwise CIO Criticizes Washington’s Changing Attitude Toward Crypto
Bitwise CIO Matt Hougan thinks the market is underestimating the impact of Washington’s increasingly positive attitude towards cryptocurrencies. In a June 4 note, he noted that US political sentiment on cryptocurrencies has recently shifted to a more positive outlook, and suggested that if the market had priced in this impact, a new ATH level would have already been reached. Hougan added that this changing trend could reveal significant ‘alpha’.
Worldcoin’s Spain Operations Suspended
The Spanish data watchdog announced that Worldcoin has legally agreed not to continue its operations in Spain until the end of the year. On June 4, the Spanish Data Protection Agency (AEPD) said that Tools for Humanity Corporation, the company behind human identity and financial network Worldcoin, will not continue collecting and processing data until the end of 2024 or until the final results of an ongoing investigation.
Bitcoin Investment Advice from Fidelity Manager
Matt Horne, head of digital asset strategies at Fidelity Investments, suggested investors allocate a small portion of their portfolios to Bitcoin. Horne explained that between 1% and 5% of the portfolio would be sufficient, allowing investors to tap into any potential gains and use it as a hedge against inflation.
$887 Million Inflow in Spot Bitcoin ETFs
According to data dated June 4, spot Bitcoin ETFs had the second highest daily inflow ever, with $887 million. The record entry was 1.05 billion dollars on March 12. When we examined it on an ETF basis, the highest inflow was on the FBTC side with $379 million, while no outflow occurred in any fund. With this inflow, money inflows were made in spot Bitcoin ETFs for 16 consecutive days.
$3.5 Billion Artificial Intelligence Agreement Between Core Scientific and CoreWeave
Core Scientific, a leading crypto miner, has signed a 12-year deal worth $3.5 billion with Nvidia-backed CoreWeave. This deal marks a strategic shift, taking Core Scientific beyond Bitcoin mining and into high-performance computing (HPC) and artificial intelligence (AI).
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BITCOIN (BTC)
BTC is priced at $70,950 with a 0.59% gain in value as of the morning hours. The horizontal channel between $75,760 and $60,800 is still maintained. There was an increase up to $71,000 yesterday, but it could not be sustained. If the pullback continues, $69,000 appears as the first major support. As resistance, $71,000 is currently working. Closings above $71,500 are required for the continuation of the rise.
ETHEREUM (ETH)
ETH is priced at $3785 with a 0.66% loss of value as of the morning hours. The rise continues after the $3730 level worked as support. For the continuation of the rise, it is important to maintain permanence above $ 3860. If persistence is achieved, an increase up to $4000 may be seen. If a pullback occurs, the first support is likely to be $3700.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5249 with a 0.15% loss in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.48 level, but it could not be permanent. $0.50 is a critical level and this level has been regained. The first support again appears to be the range between $0.52 and $0.51. Areas where there may be resistance include the $0.55 and $0.58 levels.
AVALANCHE (AVAX)
AVAX is priced at $36.17 with a 0.31% gain in value as of the morning hours. After the horizontal area broke up, we saw a movement up to the $42 level, but it could not be sustained above this area. In case of withdrawals, the 35 and 33 dollar areas can be followed as support. The middle region of the horizontal band has been regained. In upward movements, if there is persistence above the $40 level, the $45 region can be targeted. There is an upward trend in the short term.
SOLANA (SOL)
SOL is priced at $173 with a 0.71% gain in value as of the morning hours. When we examine the daily chart, we see that the $170 level, which is the resistance area we have been following for a long time, has been broken upwards. If this movement continues, first the $ 175 level and then the $ 180 level can be followed. In case of withdrawals, the broken resistance level of $170 can be followed as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $17,877 with a 0.91% gain in value. When we examine the daily chart, we see that there is an upward reaction movement from the $ 17,500 region, which we follow as the support zone. If this movement continues and persists above the $18 level, which we follow as a short-term resistance zone, the $18,850 region can be tested.
AGIX
AGIX is priced at $0.9173 with a 2.35% gain in value as of the morning hours. When we examine the hourly chart, we see that the short-term consolidation zone has been broken upwards. If this movement continues, the $0.93 region can be targeted. In case of a withdrawal, the $0.91 region can be followed as support.
RNDR
RNDR is priced at $10.5514 with a 2.06% gain in value as of the morning hours. When we examine the four-hour chart, we see that the horizontal movement has broken upward. If this movement continues, a move towards the $10.70 region may be possible. In case of withdrawals, the $ 10.45 region appears as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2338 dollars with a 0.50% gain in value. When we examine the four-hour chart, we see that the $2400 level has been broken strongly downwards. The $2320 level, which we currently follow as a support zone, still seems strong. The $2315 level was tested yesterday, but there was an upward reaction. A close above $2360 is required for the upward movement to continue.
OUNCE OF SILVER
As of the morning hours, silver is priced at $29.78 with a 0.97% gain in value. When we examine the four-hour chart, we see that there is an upward reaction movement at the $ 29.50 level, which we follow as the support zone. If this movement continues, the $30 region appears as an important resistance zone.
