Author: Benjamin Lee

The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity. Binance has blamed whale exits and a liquidation cascade for the token crash. The upcoming June 19 token unlock may trigger further price drops. The cryptocurrency market has once again been rocked by a dramatic price collapse, this time involving Polyhedra Network’s native token, ZKJ. The ZKJ token has suffered an unprecedented decline of over 91% in less than 24 hours, sending shockwaves across exchanges and drawing scrutiny from regulators, investors, and analysts alike. ZKJ, which had been trading steadily around $2.00 for over a month, crashed to…

New data from the market intelligence firm Santiment reveals that Dogecoin (DOGE) rival Shiba Inu (SHIB) could skyrocket as whale activity around the meme asset increases. In a new analysis, Santiment says that historically, deep-pocketed investors making moves worth over $100,000 have predated peaks in prices for digital assets. “History has shown that seismic upticks in $100,000 whale transactions often come just before prices peak. One of the most telling examples occurred in December 2017, when Bitcoin hit nearly $20,000 for the first time. On December 13, 2017, the number of whale transactions soared to a then-record-breaking amount of 62,317…

The world’s largest crypto exchange platform by trading volume is abruptly adding support for one decentralized finance (DeFi) application (DApp), causing its native token to skyrocket. In a new announcement, Binance says it is adding support for DeFi App (HOME), a DApp that aims to simplify decentralized trading as well as make it more accessible. After the addition, HOME skyrocketed, going from a low of $0.0201 on June 10th to a peak of $0.038 just two days later. The token has since retraced and is trading for $0.033 at time of writing, a gain of 10.3% during the last 24…

The crypto arm of the French banking giant Societe Generale is launching a US dollar stablecoin on the Ethereum (ETH) and Solana (SOL) blockchains. In a new announcement, the Societe Generale-FORGE says it is launching the USD CoinVertible (USDCV), its second stablecoin after the 2023 launch of EUR CoinVertible (EURCV). Says Jean-Marc Stenger, CEO of the Societe Generale-FORGE, “After the release of a MiCA-compliant EUR stablecoin EURCV, the launch of a US Dollar version USDCV was the obvious next step for Societe Generale-FORGE as market adoption of stablecoins is growing exponentially. The stablecoin market remains largely US dollar-denominated. This new…

A widely followed crypto strategist thinks that a correction in one safe-haven asset will likely trigger risk-on behavior that could benefit altcoins. Analyst Michaël van de Poppe tells his 791,800 followers on the social media platform X that he’s keeping a close watch on gold’s price action, noting that the precious metal’s chart is the “most important chart to watch” this week. According to the trader, gold appears to have printed a bearish lower high setup on the six-hour chart, suggesting that the precious metal could fall to as low as $3,200 in the near term. “As long as Gold…

Institutional crypto investment vehicles enjoyed nearly $225 million in inflows last week, according to CoinShares. In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that last week’s institutional crypto inflows, while positive, have fallen significantly in the last two weeks, perhaps due to uncertainty on US monetary policy. “Digital asset investment products saw US$224m in inflows last week, extending this 7-week streak to US$11bn. However, there has been a noticeable deceleration amid uncertainty over monetary policy, with investors adopting a wait-and-see stance ahead of further signals from the US Federal Reserve on inflation.” Source: CoinShares Regionally, the US led…

A zero-knowledge (ZK) proof altcoin is skyrocketing after gaining support from the top US-based crypto exchange platform, Coinbase. In a new announcement, Coinbase says it is adding Lagrange (LA) to its suite of products with an experimental label designated for low-liquidity tokens. “Lagrange is now live on [Coinbase] in the Coinbase iOS and Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.” After the announcement, LA surged from a price of $0.253 on June 4th to a peak of $1.50 just a day later, a staggering 216% gain…

A widely followed crypto analyst says that Bitcoin (BTC) is gearing up for a massive breakout after correcting to the $100,000 level. In a new strategy session, crypto trader Michaël van de Poppe tells his 790,900 followers on the social media platform X that Bitcoin is now likely on the verge of breaking through the resistance level at $105,800. “Bitcoin is about to break back higher, as we’ve taken all the liquidity and it’s quickly being absorbed. These levels should usually be the end of the correction.” Source: Michaël van de Poppe/X He also says that Bitcoin is exhibiting market…

Coinbase has added the native altcoin of the top decentralized exchange (DEX) to its listing roadmap. Coinbase’s customers may soon be able to trade PancakeSwap (CAKE), the native asset of PancakeSwap, a DEX originally built on the BNB Chain. PancakeSwap has expanded to multiple blockchains and now leads all decentralized exchanges in trading volume, recording $228.03 billion in the past 30 days compared to Uniswap’s (UNI) $95.706 billion, according to DeFi Llama. PancakeSwap also recently set its monthly record with $173 billion in trading volume in May. The roadmap addition, announced on Wednesday, has not boosted CAKE’s price: The 116th-ranked…

Coinbase has added the native altcoin of the top decentralized exchange (DEX) to its listing roadmap. Coinbase’s customers may soon be able to trade PancakeSwap (CAKE), the native asset of PancakeSwap, a DEX originally built on the BNB Chain. PancakeSwap has expanded to multiple blockchains and now leads all decentralized exchanges in trading volume, recording $228.03 billion in the past 30 days compared to Uniswap’s (UNI) $95.706 billion, according to DeFi Llama. PancakeSwap also recently set its monthly record with $173 billion in trading volume in May. The roadmap addition, announced on Wednesday, has not boosted CAKE’s price: The 116th-ranked…