‼️Aave’s Proposal to Freeze BUSD Poised to Pass

Following Paxos’s run-in with the SEC over its BUSD stablecoin, decentralized protocol Aave is poised to pass a proposal to freeze BUSD on its platform.

The proposal suggests Aave switch to a different stablecoin.

The SEC issued a Wells notice, which typically precedes enforcement actions, to Paxos, according to recent reports. The regulator alleges BUSD is an unregistered security.

“The inability to mint new BUSD might hurt peg arbitrage opportunity and asset peg,” the Aave proposal reads. “It seems that the most reasonable path for Aave is to freeze this reserve and invite users to switch to another stablecoin among the diversity present in Aave.”

The proposal, introduced Monday, was written by two delegates: the Aave-Chan initiative and Marc Zeller of Aave DAO.

“On a more general level, BUSD is one of the smallest Aave stablecoin reserves,” Zeller told Blockworks. “So the impact on overall Aave liquidity is minimal.”

Zeller’s efforts come as regulation continues to heat up in the US. After a slew of enforcement actions and settlements in recent weeks, the industry is left wondering what is next for stablecoins and staking products.

The proposal says “there’s no real prospect of growth” for BUSD, adding that the stablecoin’s circulating supply will “eventually go toward zero.”

👁 ETH GLOBAL UPDATE

Here is the big plan on buying Ethereum before the new bullish season starts.

There is a massive ascending triangle that must be broken upwards. However, I expect ETH to test its support BEFORE going to the resistance.

We will buy Ethereum in the $1400 - $1450 range with the final target at about $8000 - $10,000.

👀Everywhere you turn today, the buzz is all about one thing — the Azuki Elementals mint.

The fascination, the excitement, and the intrigue around this mint have created a fervor that is impossible to ignore.

The Azuki Elementals are the third addition to the rapidly expanding Azuki universe, including Azuki’s genesis collection and Beanz.

Spanning four different domains (Lightning, Earth, Water, and Fire) and rarity tiers, Elementals consists of 20,000 NFTs.

The first 10,000 were airdropped to Azuki holders at the project's recent Vegas event.

➡️Bitcoin Trades at Narrow Discount on BinanceUS

Bitcoin (BTC) was priced at a slight discount on BinanceUS early Friday after the exchange said it would become a crypto-only platform starting June 13.

At 08:25 UTC, the bitcoin-U.S. dollar pair on BinanceUS traded at least $130 below prices on Coinbase and other major exchanges, according to data tracked by the charting platform TradingView.

"BTC now trades at a slight discount on BinanceUS," said Clara Medalie, a director at Paris-based crypto data provider Kaiko. "News of a possible halt in USD withdrawals has caused an uptick in BTC selling as traders quickly try to get their assets off the exchange,"

BinanceUS tweeted late Thursday that it would no longer accept dollar deposits and warned that its banking partners are preparing to pause fiat withdrawal channels as of June 13. The exchange urged clients to reclaim their dollars using bank transfers before then, and said it would begin delisting the dollar-denominated pairs starting next week.

The decision comes days after the U.S. Securities Exchange and Commission (SEC) asked a federal court to freeze BinanceUS' assets, while suing its global entity Binance and rival exchange Coinbase for violating the federal securities law.

The SEC's action saw market makers remove liquidity from BinanceUS' order books. The resulting worsening of the market depth saw bitcoin trade at a premium of more than $1,000 on the exchange at one point.

📣BTC UPDATE

A week has passed, but nothing changed. Still waiting for some fake breakdown of the $25,000 in order to gather all the liquidity located below.

Can possible touch the $24,000 - $24,400 area, but then must retrace upwards and come back above the $25k.

If comeback doesn't happen, then as I've said, we should expect nothing positive from the market this month.

⬇️Blockbuster Crypto Wall Street Memes Token to List on Binance in 3 Days Claims Source

There are three days to go before Wall Street Memes, one of 2023’s biggest crypto presales, launches on exchanges, and Binance could be among the tier 1 trading venues being targeted.

WSM coin is at the center of a plan to monetize the meme stocks movement and bring that energy to crypto.

With a one million-strong social community of financially switched-on individuals behind it, a community that Elon Musk interacts with, the opportunity to turn investments of hundreds of dollars into millions has been too good to pass up for many.

According to the Wall Street Memes website, in three days, the first tier 1 centralized exchange (CEX) listings will take place, and it is thought that at least two of them are ranked in the top 10 globally.

But today an inside source has let it slip that the world’s largest crypto exchange, Binance, might possibly be listing the coin.

As crypto trading volumes touch multi-year lows, centralized exchanges are competing fiercely for market share. Binance, at one stage, looked like it would be one of the winners of the crypto winter when it grabbed a market share of as much as 65% earlier this year.

📣 ARB made +17% profit on spot, 4/5 targets reached! Keep holding.

➡️Clay Nation to form a collaboration with The Sandbox

Clay Nation will be forming a collaboration with The Sandbox, which will be the first Cardano-oriented project on the platform and will come with a fresh lease of life for The Sandbox ecosystem. There will also be additions made to the overall volume of connected players in their favor. Incidentally, this is exactly a situation that The Sandbox had been looking forward to for a long time, and they are extremely pleased with the fortunate turn of events.

Clay Nation, on its own part, is a multi-faceted clay animation, as well as a digital collectible and metaverse-related project. Their entire aim and intention are to be able to build a progressive community that is into the utilization of Web3 for the purpose of bringing in further human interaction. This well-thought-out collaboration will open the doors for the initial phase of cross-chain PFP-avatar collection interoperability.

In turn, it will provide the opportunity for the owners of the Clay Nation Cardano NFTs to be able to use their own avatars in The Sandbox. The participants will find themselves in the position of being capable of creating wearables, as well as other creative products, through the gathering of in-game resources.

As per the understanding between the two entities, Clay Nation has forged an association with Smobler and is in the process of building the Sonic Sands exposure on its very own 2×2 land shortly. There will also be a social hub which will be used for staging concerts. The idea is to expand on the possibilities of scouring for music and collectibles like mushrooms, as well as crystals.

💸Top Analyst Says Bitcoin Is in Bull Market

Leading cryptocurrency analyst Ki Young Ju has asserted that Bitcoin is currently in a bull market cycle after the largest cryptocurrency finally surpassed $30,000.

In a recent tweet, the CryptoQuant head explained that the Bitcoin price-earnings ratio (PER), which is based on miner revenue, stands at 73, implying an attractive price point for miners to sell and indicating a bullish phase.

Ju's formula for calculating Bitcoin's PER involves dividing the cryptocurrency's price by the annual miner revenue over the total supply.

The current bullish phase, according to the expert, exhibits certain cyclic patterns within the cryptocurrency industry.

At press time, the Bitcoin price is trading approximately $30,019.91 with a slight upward trend observed over the past week. Its market cap is nearing the $600 billion mark.

— Upcoming options expiries

Adding complexity to the market scenario, recent data indicates that 31,000 Bitcoin options contracts are about to expire.

With a put-call ratio of 0.73 and a maximum pain point of $27,000, these contracts represent a notional value of $930 million.

Additionally, 180,000 Ethereum options are also nearing their expiry date, carrying a put-call ratio of 0.86, a maximum pain point of $1,750, and a notional value of $340 million.

👀 BTC!

As expected, Bitcoin gave us a good-old pump to $28,480 resistance! Hope you had some BTC in your portfolio.

Volumes are great, we may expect the pump to continue until the $30,000 level.

At the moment the price is consolidating below the resistance of $28,400. We may see a correction from there, you can use it for buying if you want to.

As I've said in the previous update, $27,300 breakout turn me into neutrally-bullish mode. If the price breaks the $28,500 I will be way more bullish.

➡️ NFTs arrive on Instagram: complete tutorial

NFTs, Non-Fungible Tokens, are coming to Instagram as well: here is the full tutorial on how digital assets will be managed in one of the most influential social platforms in the world.

In recent months, Meta brought a novel feature useful for sharing non-fungible tokens purchased or held on other platforms. Recently, however, came the announcement of a system that will allow people to create and sell them directly, without having to go through external services.

For now, the company has involved only a small group of creators in the United States. It is important to highlight that Meta’s choice demonstrates how the NFT market is becoming increasingly attractive around the world.

➡️ Great listing of the CAT token!

Public price: $0.00138
Highest price: $0.00630 (+280%)
Current price: $0.00300 (+170%)

I do hope you were able to get an allocation on public round and earned some great profits!

👥OKX Wallet Integrates with Trait Sniper, Unlocking New NFT Frontiers

— Seamless Integration for NFT Adventures

The process to unlock the potential of Trait Sniper through the OKX Wallet is simple and user-friendly. To get started, users only need to download the OKX Wallet web extension, which is readily available as an add-on for popular browsers like Chrome and Firefox. From there, users can either create a new OKX Wallet or add an existing one to begin their NFT adventure. Once their wallet is set up, connecting OKX Wallet to Trait Sniper is done via the web extension, making the entire process seamless and hassle-free. The collaboration between the two platforms aims to offer users unparalleled access to a diverse range of NFT solutions.

OKX Wallet has been making waves in the crypto space, boasting an extensive suite of products to cater to both beginners and experienced crypto enthusiasts. As a universal crypto wallet, it supports over 3,000 cryptocurrencies and more than 60 networks. Additionally, OKX Wallet provides access to thousands of DApps and boasts a one-stop decentralized NFT Marketplace, eliminating the need for users to navigate between multiple platforms.

Recent news from OKX Wallet revealed that the platform is now open source, marking a significant step in fostering transparency and community collaboration within the crypto ecosystem. The global technology giant, OKX, continues to drive the future of Web3 by partnering with top brands and high-profile athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

The collaboration between OKX Wallet and Trait Sniper stands as a testament to the rapid evolution of the NFT market. By combining the expertise of both platforms, users can now access advanced analytics and robust trading capabilities, enhancing their NFT experience and empowering them to make more informed decisions in this dynamic and fast-growing sector.

➡️From Vintage to MNTGE: Digital Fashion Brand to Release NFT Patches Linked to IRL Rewards

Digital fashion brand MNTGE is gearing up to release its Patchwork collection, comprised of a series of non-fungible token (NFT) patches paired with a physical counterpart.

MNTGE Patchwork features 13 unique digital patches designed by 11 artists including Jen Stark, Bored Ape Yacht Club artist Seneca and Nyan Cat meme creator Christopher Torres. The entire 7,500-unit collection will open for sale on July 27 on NFT marketplace OpenSea. Each NFT will be priced at 0.07 ETH, or $130, and the artwork will be revealed upon mint.

Each NFT is linked to an identical physical patch. Embedded with a near-field communication (NFC) chip, owners can scan the real-world patch to claim the digital token in their crypto wallet. By holding the patch on the blockchain and IRL, users can trace ownership as well as attend token-gated events and exclusive MNTGE experiences.

Additionally, the patches aren’t just one-off collectibles. In the physical world, they can be sewn onto MNTGE’s “base garments,” including t-shirts, jackets and denim. In the digital realm, the patches can be “owned” by the base garment itself. By implementing an ERC-6551 token standard, the digital wearable becomes a token-bound account that can custody the patches – creating an added layer of digital ownership.

Nick Adler, co-founder of MNTGE, told CoinDesk that the company was rooted in the goal of selling vintage fashion and utilizing the blockchain to revitalize its origins.

“People are out there wearing [vintage] and collecting it…young kids want to be authentic,” said Adler. “They don't want a Hot Topic shirt, they want the original shirt, right? So we just saw this natural, really honest use case for the blockchain, and we just felt like the two could really go hand in hand.”

➡️OP is falling while we are counting profits

80% profit with 5x lev done here, I move my stop loss in breakeven!