? EigenLayer competitor Symbiotic crosses $1 billion in deposits in under a month
The total value locked in the restaking protocol Symbiotic has surpassed $1 billion. The project noted that it hit its deposit limit of 210,600 wrapped stETH worth about $800 million, in just four hours yesterday. This increase pushed user deposits to over $1.04 billion in less than a month, according to DeFiLlama data.

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? Bitcoin Bottom Is Near as Miners Capitulating Near FTX Implosion Level: CryptoQuant
Bitcoin (BTC) miners are showing signs of capitulation, an event that is typically tied to a market bottom after the world's largest cryptocurrency endured a 13% plight over the past 30 days. Bitcoin is currently trading at $60,300 after sliding by 3% on Wednesday. This level has acted as a critical support since April, with bitcoin bouncing three times from this region before heading back towards the $70,000 mark.

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? Bitcoin long liquidation dominance hits 70% in June amid 2024 market volatility
Bitcoin’s long liquidation dominance across all exchanges has fluctuated significantly in 2024, reflecting volatility in market sentiment. The seven-day moving average data reveals periods of increased long liquidations, especially in April and June. Notably, these spikes in liquidation dominance coincide with significant price movements. In March, the dominance of long liquidations surged above 60%, correlating with a notable decline in Bitcoin’s price from approximately $70,000 to $60,000.

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? Crypto losses stemming from hacks, rug pulls up 112% YoY – ImmunefiThe crypto ecosystem experienced significant losses in the second quarter of 2024, with a total of $572.7 million lost due to hacks and frauds — up 112% compared to the same period a year ago, according to Immunefi’s latest quarterly breakdown report. Meanwhile, year-to-date (YTD) losses due to hacks and frauds have reached $920.9 million, a 24% increase compared to the previous year’s $702.9 million.

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⚡️ State Street and Galaxy Digital launch crypto ETFs aimed beyond BitcoinState Street Global Advisors, a subsidiary of the third-largest ETF issuer State Street, has joined the growing trend of traditional financial institutions exploring crypto ETFs. The firm has already filed an application with the US Securities and Exchange Commission (SEC) to register SSGA Active Trust, a crypto-focused fund. As of March this year, State Street Global Advisors managed assets exceeding $4.3 trillion, while Galaxy Digital oversees approximately $6.2 billion.

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? Bitcoin Falls After U.S. Sends $240M Worth of Silk Road-Related BTC to CoinbaseBitcoin (BTC) fell back towards $60,000 on Wednesday, after a wallet tagged to the U.S. Government moved about $240 million worth of seized BTC to a Coinbase Prime address, igniting concerns among traders that the digital assets will likely to be sold. Some 3,940 bitcoin originally seized from a Silk Road vendor was moved by the the wallet, according to an Arkham Intelligence social media post.

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?? US CFTC investigating trading firm Jump's crypto activity: FortuneThe U.S. Commodity Futures Trading Commission is investigating trading firm Jump, according to reporting from Fortune. The derivatives regulator is specifically looking into the firm's crypto involvement, such as trading and investing, Fortune reported on Thursday. The CFTC did not immediately respond to a request for comment from The Block. Jump declined to comment when contacted by The Block.

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? XRP Open Interest Spike in Response to Ripple-SEC DevelopmentsXRP’s rising OI suggests investors are opening more positions, expecting a surge in price, but volatility remains a concern. In line with the price action, XRP saw a surge in open interest (OI) as traders continued to closely monitor the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC). This surge in OI suggests that investors are increasingly opening positions anticipating a rise in XRP’s price, according to CryptoQuant’s latest analysis.

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? Bernstein predicts spot Bitcoin ETFs near approval at major wirehouses; maintains $200,000 target by 2025 endWhile bitcoin bears argue the spot Bitcoin exchange-traded fund trade is “done,” they are missing two key factors, according to analysts at research and brokerage firm Bernstein. Arguments against the Bitcoin ETF trade revolve around early allocations being driven by retail investors, with institutional involvement confined to the basis “cash and carry” trade rather than net long positions, meaning the ETF flows are not “real,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.

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? May crypto investments hit $1B driven by Notcoin launch — KuCoinKuCoin’s research arm published a report highlighting that the crypto space saw over $1 billion in investments in May, a slight decrease compared to the previous month. On June 13, KuCoin Research said that 156 investments were publicly disclosed in May. In addition, the crypto exchange’s research arm reported that $1.02 billion in investment capital flowed into the space.

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