Planet Daily | Binance users exceed 200 million; Trump calls himself cryptocurrency president (June 10)

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夫如何
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The U.S. non-farm payrolls in May were 272,000, seasonally adjusted, compared with expectations of 185,000 and the previous value of 175,000.

Planet Daily | Binance users exceed 200 million; Trump calls himself cryptocurrency president (June 10)

Headlines

Binance’s global user base has exceeded 200 million, and it only took 2 years to grow from 100 million to 200 million

At 23:58 on the evening of June 8 (GMT+8), the number of registered users on the Binance platform worldwide has exceeded 200 million.
“We are very honored to announce that Binance has reached 200 million registered users, and this number is still growing. This achievement is a reflection of the continued trust of the crypto community and industry participants in the Binance ecosystem. We will cherish this trust - as a user-centric platform, we are always committed to prioritizing the needs of our growing user base,” said Richard, CEO of Binance.
This milestone is not only a victory for Binance, but also a sign of strong growth and maturity of the entire crypto industry. Binances rapid growth from 100 million to 200 million users in just 2 years, despite difficult market conditions, shows that the entire crypto industry is transforming. In this process, cryptocurrencies have achieved a transition from early adopters to early majority, indicating that more and more of the global population is beginning to accept cryptocurrencies and their endless possibilities.
Looking ahead, Binance’s focus remains on leading the charge in driving financial inclusion and innovation. As the industry moves towards the shared goal of attracting the next billion users, Binance’s unwavering commitment to fostering sustainable growth within the crypto ecosystem becomes even stronger. This industry evolution has been an exciting journey, and we are grateful to be leading the way.”

Trump promotes himself as the “Crypto President” at event

According to Reuters, Trump promoted himself as the cryptocurrency president at a tech fundraiser in San Francisco.

The seasonally adjusted non-farm payrolls in the United States in May were 272,000, compared with expectations of 185,000 and a previous value of 175,000.

The seasonally adjusted non-farm payrolls in the United States in May were 272,000, compared with expectations of 185,000 and the previous value of 175,000.

Industry News

Analysis: Institutions have built a $6.9 billion net short position in MicroStrategy

According to Fintel analysis, based on the list of the largest short positions disclosed by institutions to the SEC, institutions have established a net short position of $6.9 billion in MicroStrategy, ranking first among crypto-related companies, accounting for 23.14% of its market value. This high percentage indicates strong bearish sentiment or hedging. If market conditions change, a short squeeze may occur.
Additionally, Coinbase has a net short position of $1.1 billion and Marathon has a net short position of $100 million.

Animoca: Hong Kong may add staking services to Ethereum spot ETF this year

Yat Siu, co-founder of Animoca Brand, said that Hong Kong may add staking services to Ethereum spot ETFs this year, and asset management companies of existing spot Ethereum ETFs and potential issuers are exploring this possibility. According to an executive, HashKey is preparing a draft proposal to review staking.

Bitfinex: Bitcoin bull market cycle may peak in the fourth quarter and reach $120,000

Analysts at cryptocurrency exchange Bitfinex predict that the current Bitcoin bull cycle may peak in the fourth quarter of 2024. Analysts said that historical data shows that Bitcoin usually reaches an all-time high (ATH) a few months after the halving event, so the predicted market top may occur around the fourth quarter of 2024.
Bitfinex analysts predict that in the current cycle, based on on-chain indicators and historical patterns, Bitcoin is expected to peak at at least $120,000 in this cycle.

Citigroup: Forecast for the first Fed rate cut changes from July to September

According to market news, Citigroup changed its forecast for the first Fed rate cut from July to September. As one of the few Wall Street banks that believed the Fed would cut interest rates next month the day before, Citigroup changed its view after the US released stronger-than-expected non-farm payrolls data in May, and postponed the expected time to September. Economists led by Andrew Hollenhorsts new forecast is that there will be three rate cuts this year, in September, November and December. The previous forecast was that each meeting from July to December would cut interest rates by 25 basis points. As of this week, at least six other Wall Street banks predicted that the Fed would cut interest rates in September, and at least four believed that it would cut interest rates in December.

Bitcoin Lightning Network Capacity Exceeds $350 Million, Sets Record High

According to data disclosed by Bitcoin Magazine, the capacity of Bitcoin Lightning Network has exceeded 350 million US dollars, setting a record high. According to 1 ml data, the current capacity of Bitcoin Lightning Network has reached 4,963.16 BTC, worth approximately 353,907,125.37 US dollars, with 13,650 nodes and 52,050 channels.

The total market value of stablecoins exceeds 170 billion US dollars, and USDTs market share reaches 65.79%

DefiLlama data shows that the total market value of stablecoins is now $170.811 billion, a 7-day increase of 6.4%. In addition, the total market value of USDT is now $112.376 billion, with a market share of 65.79%.

Wintermute CEO: Ethereum leaders are caught in a “major conflict”

Wintermute CEO Evgeny Gaevoy said on the platform that if Ethereum fails in the future, it will not be because of technical deficiencies compared to competitors such as Solana. Instead, the core problem is the contradictions of Ethereums leadership.
Evgeny Gaevoy said that Ethereum leaders are trying to create a capitalist blockchain system while solving social problems, but this is inherently contradictory. Either build capitalism or plan socialism, but you cant have both.

Project News

Starknet: Will not create a new dedicated token on Bitcoin, will focus on expanding the execution layer of Bitcoin and Ethereum

Starknet clarified on the X platform regarding Starknet’s entry into the Bitcoin extension layer: “Starknet will continue to focus on Ethereum’s expansion. Since the launch of Starknet, our goal has remained the same, which is to develop STARK proofs to enhance the scalability and integrity of the blockchain we believe in.
Instead of creating a new layer or a new dedicated token on top of Bitcoin, Starknet will attempt to extend the execution layer of both Bitcoin and Ethereum. Its security, governance, and ecosystem will all be driven by the STRK token.”

io.net founder resigns as CEO of io.net, effective immediately

The founder of io.net stated on the platform that he will resign as CEO of io.net, effective immediately.
He also said that io.net has grown into one of the fastest growing decentralized AI companies in the world. After careful consideration, he decided to hand over the CEO position to Tory Green, which is in the best interests of the community and the project.
At the same time, he emphasized that he resigned as CEO in order to allow io.net to move forward without interference and focus on the companys development and success.
In addition, to express gratitude to the team, partners, and community, it will donate 1 million $IO it owns to io.nets GPU Internet Foundation to help develop the ecosystem.

zkSync: v2 4 mainnet deployment completed

zkSync announced on the X platform that the v2 4 mainnet deployment has been completed.

BEVM launches new incentive program, which will provide $60 million worth of incentives to outstanding projects and users

BEVM has launched a new incentive program, BEVM Visionary Builders (BVB), which aims to promote the development of 17 tracks including DEX, lending, stablecoins, etc. Through community participation and multi-dimensional evaluation, it will provide incentives worth $60 million to outstanding projects and users.

Taiko: Removed DaikoDEX from the ecosystem page

Taiko posted a message on the X platform to remind that participation in any public chain is permissionless, but you need to be careful. Due to worrying behavior, Taiko has removed DaikoDEX from our ecosystem page. Safety is the top priority, users please be cautious and vigilant.

Justin Sun’s current investment in Pendle has grown to 53,900 ETH, with a total value of $205 million

According to @ai_9684 xtpa monitoring, in the past half hour, Justin Sun spent 9,900 ETH to buy ether.fi PT expiring on June 27, worth 37.69 million US dollars. As of now, the funds invested by Justin Sun in Pendle have grown to 53,900 ETH, with a total value of 205 million US dollars.

Grand Base announces new token economics: total 25 million tokens, 40% for restart airdrop, 26.88% for community airdrop

Base Ecosystem RWA Market Grand Base recently announced new token economics and will release a new contract restart token.
The total and final supply of the new token is set at 25,000,000. This represents a 50% reduction in the number of tokens compared to the old token economics, with the following distribution:
-6,720,000 tokens for community airdrops (26.88%), especially to former liquidity providers who suffered losses; vesting period 12 months, 0% unlocked at TGE, 5% of the total allocation unlocked monthly;
- According to the snapshot, 10,000,000 tokens (40%) will be distributed for the protocol restart airdrop; the vesting period is 3 months, 16.65% will be unlocked at TGE, and then unlocked weekly;
- 4 million tokens (16%) will form the treasury, providing sufficient resources for future initiatives and the sustainability of the ecosystem; the vesting period is 12 months, of which 10% will be unlocked by TGE and 10% of the total allocation will be unlocked each month;
- 3,000,000 tokens (12%) reserved for the Grand Base team; vesting period is 12 months, TGE will not be initially unlocked, nor will it be unlocked monthly;
- 1,180,000 tokens (4.72%) will be distributed to MEXC holders, the total amount of tokens will be minted and sent to MEXC members responsible for performing automatic redemptions to facilitate this distribution; 100% unlocked at TGE;
- 100,000 tokens (0.4%) will ensure initial liquidity paired with USDC on Aerodrome; 100% unlocked at TGE.

Friend.Tech: Plans to migrate from Base to the Friendchain network

Web3 social network Friend.Tech has announced plans to migrate from the Base network to the Friendchain network, which was developed in partnership with Conduit. Users will be kept informed of the migration timeline “in the coming months” as blockchain development progresses.

Security Risk

More than 32,000 users lost more than $42 million to phishing scams in May

According to Scam Sniffer, in May this year, more than 32,000 users lost more than 42 million US dollars due to phishing scams.

Orbit Chain hackers have transferred 12,932 ETH in the past 10 hours and laundered the funds through Tornado Cash

According to Embers monitoring, the Orbit Chain hacker has transferred 12,932 ETH (worth $47.58 million) in the past 10 hours and completed the money laundering through Tornado Cash.
The hackers address currently holds 13,821 ETH (US$50.86 million) and 20 million DAI.

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