Hello Snapshotters,
On Wednesday, Blast Blockchain dropped 17 million of its $BLAST tokens to users of the chain. Just months after its launch, Blast has grown to become the second-largest Layer-2 by total value locked (TVL).
Overall, the second quarter of the year was strong for the crypto space, as $9.25 billion worth of BTC options were set to expire yesterday. Just a few days earlier, MicroStrategy stocked up on its Bitcoin holdings, and Deutsche Telekom announced it will start mining BTC.
More details below.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
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News Snaps
🪂 Blast Drops 17 Billion Tokens
In a $2 billion airdrop, the Blast Blockchain dispersed 17 billion BLAST tokens on June 26. Of the 17 billion tokens, 7 billion went to Blast Points holders, another 7 billion to those with Blast Gold. BLAST price rallied 40% within hours after the drop.
🇬🇧 London Trading Desk for BTC & ETH
Standard Chartered is establishing a London-based spot trading desk for Bitcoin and Ether, making it one of the first global banks to enter spot cryptocurrency trading.
🇨🇦 First Solana ETP Application
3iQ, an investment fund manager based in Canada, filed for a Solana ETP on Canada’s Toronto Stock Exchange. If approved, the Solana Fund (QSOL) will be the first Solana ETP listed in North America.
🇩🇪 German Telekom Will Mine BTC
Deutsche Telekom, Europe’s largest telecommunications provider, will soon mine Bitcoin. Since 2023, the company has been running a Bitcoin node and Bitcoin Lightning Network nodes.
📈 MicroStrategy Buys More BTCMicroStrategy purchased an additional 11,931 BTC at the price of $65,833 per BTC. As of June 20, the company holds 226,331 BTC acquired for $8.3 billion, with an average price of $36,798 per BTC.
What’s Ahead
Number of the Week
Chart of the Week
Bitcoin miner reserves dropped to a three-year low.
Miner reserves represent the amount of BTC held by miner wallets. A drop in miner reserves is usually associated with a price drop, as this indicates heightened selling activities. Reserves were at 1.8 million BTC as of June 23, 2024.
Although reserves have dropped, their value in U.S. dollars is near double compared to three years ago due to BTC’s price appreciation.
Crypto Trivia
How many people own cryptocurrency?
- 1 billion
- 260 million
- 580 million
Find the correct answer at the bottom of this newsletter.
NFT Spotlight
🎉 It’s Time to Lucha! 🎉
The World Wide Lucha League has launched its first NFT mint — ‘Lucha Transformation: From Snacks to Six-Packs’ — which dropped on Wednesday, June 26. It features 5 base ‘Luca the Luchador’ characters — “either skinny and wimpy or chubby and cuddly” — ready to get in shape!
Engage in the fun by completing a series of eight mini challenges to qualify for a chance to win one of 10 full ‘Luca’ NFTs with crazy masks, wild identities, and the most fit and fun traits ever. Plus, holders of these NFTs will unlock special powers in the upcoming game.
World Wide Lucha League is where health and wellness meet Web3 in an electrifying luchador NFT eSports arena. Get fit in real life and watch your NFTs level up, ready to conquer the ring and rake in top prizes, tokens, and cash.
This is more than a vision. And you’re the heartbeat of the League.
Be the champion in the making. Let’s get ready to Lucha! 🥊🎭
Product Picks
AKT Now on On-Chain Staking
Akash Network (AKT) is now available for on-chain Staking in the Crypto.com App and on the Exchange. Put your idle assets to work and receive rewards of up to 19% as often as three times a week. What’s more, enjoy the flexibility of unstaking your staked assets at any time. Learn more.
Top Up Your Crypto.com Visa Card With 17 New Tokens
Crypto.com now supports 100-plus tokens to make it easier to fund your Crypto.com Visa Card, and includes meme coins like $SHIB, $PEPE, $FLOKI, and $WIF! Learn more.
Crypto.com App New Token Listings
Blast (BLAST)
Blast is an Ethereum Layer-2 platform created by the team behind the Blur NFT marketplace. It integrates native yield for ETH and USD-denominated stablecoins like USDC, USDT, and DAI.
Neuron (NRN)
Neuron (NRN) serves as the native cryptocurrency within the AI Arena ecosystem, allowing users to stake and earn token and NFT rewards.
Ponke (PONKE)
Ponke is a monkey meme coin that operates on the Solana blockchain and characterizes itself as a “degenerate gambler with anger issues.”
Popcat (POPCAT)
Popcat is a cryptocurrency project inspired by a viral internet meme featuring a domestic short-haired cat named Oatmeal whose mouth “pops” open and close.
Crypto Level Up
What Are Yield-Bearing Stablecoins and How Do They Work?
Yield-bearing stablecoins are one way the tokenized real world asset (RWA) concept is applied. They offer token rewards or increased values as yield from the underlying collateral or DeFi activities.
Rebase Yield-Bearing Stablecoins
This token type has balances that automatically adjust as interest accrues. For example, distributing token rewards in the form of additional coins while maintaining price stability.
Non-Rebase Yield-Bearing Stablecoins
These stablecoins are staking-, derivative-, or DeFi-based tokens. Yield is typically generated by the token’s value increasing.
Learn all about yield-bearing stablecoins.
CryptoIRL
🐶 @_silverstar88_ is out and about with their best friend taking in the clear skies and sunshine. They may not have any treats on hand, but that’s something the Royal Indigo Crypto.com Visa Card can easily fix.
Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Hackers Compromise 50 Cent’s Platforms to Promote Scam Cryptocurrency
In late June, the X account and website of rapper 50 Cent were hacked to promote a fraudulent cryptocurrency dubbed GUNIT. The hackers then executed a rug pull scam, earning $3 million in just 30 minutes, according to 50 Cent in an Instagram post.
Here’s How Passkeys Secure Your Accounts Better
A Passkey is a digital credential letting you log in to your account, such as the Crypto.com App, without using a password. Unlike passwords, Passkeys aren’t susceptible to phishing attacks or brute-force attempts.
Your Passkey is unique to your account, and it’s integrated with your device’s own biometric authentication features or even a separate hardware token.
Learn how to set up a Passkey for your Crypto.com account.
Crypto Trivia Answer
C) 580 million people worldwide own cryptocurrency.
Source: Crypto.com
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.
