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VC roundup: PQShield clinches $37m, Renzo raises $17m

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This week, blockchain startups and various crypto projects collectively raised more than 0 million in venture capital (VC).

Here’s a roundup of the funding activities between June 16 and June 22. The activity reflects a growing interest in diverse blockchain applications, from gaming and social networks to advanced cryptographic security.

PQShield raises m in series B round

Security startup PQShield emerged as this week’s biggest winner. It closed a million Series B round to enhance its post-quantum cryptography solutions. 

Led by Addition, the funding round also included new investors such as Braavos Capital, Legal & General, and Chevron Technology Ventures.

PQShield’s technology is aimed at future-proofing cryptographic systems against quantum computer-based hacks, with notable clients including Nvidia and AMD. 

The company’s founder, Dr. Ali El Kaafarani, said that PQShield will use the new funds to hire more people and facilitate closer working relationships with its partners and customers. 

Renzo secures m in series A round

The second-highest amount of funding of the week went to the Ethereum (ETH) restaking protocol, Renzo.

It secured million in a series A round led by Galaxy Ventures and Brevan Howard Digital Nova Fund. Earlier in January, the platform raised .2 million in a seed round led by Maven 11. 

Renzo enables users to restake various Ethereum assets, providing them with ezETH, a liquid restaking token usable across decentralized finance (defi) platforms. Data from DefiLlama shows that it currently has a market capitalization of nearly 5 million and a total value locked of more than .6 billion.

Particle Network bags m

Particle Network, a modular blockchain developer, also did well this week. The company raised million in a series A round co-led by The Spartan Group and Gumi Cryptos Capital. 

The round, as reported by The Block, was structured as a simple agreement for future tokens and involved participation from SevenX Ventures, Flow Traders, and HashKey Capital, among others.

Previously, Particle raised million in three funding rounds, bringing the total raised to million. 

According to the company’s founder, Pengyu Wang, Particle will use the money to support its work on chain abstraction technology as well as expand its operations.

Sonic wraps up m series A round

Elsewhere, Sonic, a Solana (SOL) layer-2 network focused on gaming, raised million in a series A round led by Bitkraft Ventures. Other VC firms that participated in the round included Galaxy Interactive and Big Brain Holdings. 

The project has raised million in total, following a million round in 2022, giving it a fully diluted valuation of 0 million. 

The funds will support Sonic’s mission to simplify Web3 gaming complexities and integrate with various gaming genres.

ZKX raises .6m

On June 19, ZKX, a pioneering social perpetual trading decentralized exchange (DEX), announced it had secured .6 million in total funding, including a recent .3 million seed round. 

Investors like Flowdesk, GCR, and DeWhales backed the initiative, which aims to enhance perpetual swaps through social trading features and cross-chain interoperability.

In its announcement, the company stated that it would use the fresh capital to introduce new features to the ZKX protocol, including social copy trade pools as well as expanding cross-chain interoperability to make perpetual swaps universally available.

The platform has also launched its native ZKX token on three major exchanges: Bitget, Gate.io, and KuCoin. 

Gudchain closes m investment round

Another gaming-focused project that won big in this week’s crypto VC action was Gudchain, an OP-stack-based layer-2 blockchain.

It secured million in funding, led by Mechanism Capital. Other participants in the round included Manifold, Skyvision Capital, and Morningstar Ventures.

The blockchain aims to simplify web3 access for gamers and will serve as the foundation for Highstreet Market products. The platform has also reportedly signed five flagship games, with the team planning to launch them on-chain within six months. 

Other notable funding

Several startups also secured smaller, yet significant, funding rounds in the week:

  • Zeek, million seed round: The decentralized social collaboration network raised million from investors, including OKX Ventures and Animoca Brands.
  • Wasabi, million in seed funding: The meme coin and non-fungible token (NFT) leverage trading protocol garnered million, led by Electric Capital, to boost its defi offerings.
  • Bitwise, .5 million seed investment: Bitwise updated its S-1 form, revealing a .5 million seed investment for its Ethereum ETF, with Pantera Capital showing interest in further investments.
  • Farworld Labs, .75 million pre-seed round: The Farcaster-native gaming company closed a .75 million pre-seed round to advance its Farcade platform.
  • Ordinox, million in pre-seed funding: The Cosmos-based automated market maker for BRC20s and Runes received million led by DACM to support its development and security audits.

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Theo Crypto News

DeFi

Trump’s crypto presidency claim is bluster, says ex-Biden advisor, urges Biden to act

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Moe Vela, former senior advisor to President Joe Biden and senior advisor to Unicoin, recently spoke to crypto.news, stressing the importance of proactive and balanced cryptocurrency regulations.

Former President Donald Trump has boldly declared himself the “crypto president,” positioning cryptocurrency at the heart of his election campaign. Embracing Bitcoin with newfound fervor, Trump has pledged to make the U.S. a global hub for Bitcoin mining and has started accepting crypto donations for his campaign. 

This focus on cryptocurrencies has become a recurring theme in the 2024 U.S. presidential race, where incumbent President Joe Biden finds himself recalibrating his stance on cryptocurrencies.

Biden’s team, possibly feeling the heat of the competition, has started to show a warmer side to cryptocurrencies. His campaign has explored engaging with crypto payments through platforms like Coinbase and softened their rhetoric around regulations

This political tug-of-war over crypto policies could have profound implications for the future of digital currencies in the U.S. and beyond. The direction taken by the next U.S. president will likely influence global standards.

Vela claims that for the crypto industry to thrive, it must be proactive in shaping fair and inclusive regulations rather than reacting after the fact.

How could Trump’s policy and promises, as well as Biden’s potential regulatory actions, influence investor behavior and impact the crypto industry?

The underlying challenge AND opportunity with cryptocurrency, from an investor perspective, is that there are many NEW investors in the sector.  It could be argued that cryptocurrency started out as somewhat of a fad or movement of sorts and piqued the curiosity and spirit of adventure of many who never felt they had access to investing opportunities.  It was and still remains a new frontier in many ways.  Trump’s self-proclamation and the Biden Administration’s regulatory approach are both being watched very carefully by the sector as where these two candidates stand on the issue can very well change the outcome of this election in light of how tight the race appears to be.  Millennial and younger crypto investors, of which there are millions, could be swayed politically based on their pocketbook and newfound ability to invest and not by some of the more traditional issues of past elections like climate change, abortion, immigration, and international affairs.

Trump recently declared himself as the “crypto president.” What are your thoughts?

Regrettably, as someone with decades of political experience and who was part of the launch of an asset-backed crypto that is growing exponentially, it’s somewhat embarrassing to see any reaction at all to Donald Trump claiming to be the “crypto president.”  He has a clear and blatant track record of saying what his audience wants to hear and only that which is politically calculated.  For anyone in our crypto industry to fall for it is astonishing.  His comments on crypto are literally a complete reversal of just a year or two ago, it’s just political bluster.

How should the Biden campaign respond to the rapid increase in miners following Trump’s self-proclamation, considering the significant number of American crypto investors and the potential impact on the upcoming presidential election?

The rapid increase in miners post Trump’s self-proclamation is demonstrative of naivete, at best.  That said, it should also be a wake-up call to the Biden campaign, the Biden Administration, and the Democratic Party.  If I was still advising the President, I would remind him that there are over 60 million Americans who have invested in cryptocurrency, many of which are millennials and young professionals, a large swath of voters who could make or break a Presidential election.  The Biden campaign would be foolish to continue to concede on the issue of crypto and the Biden Administration should take this opportunity to express their support of cryptocurrency and creation and implementation of regulations that are pro-crypto and protective of investors and consumers at the same time.  This is their chance to step up to the plate on this issue.

Why are your thoughts on Biden accepting crypto donations?

The Biden campaign should absolutely accept crypto campaign donations, and whether it is only on CoinBase or others is irrelevant, in my opinion.  The acceptance of crypto in today’s campaigns is demonstrative that a candidate understands that crypto is here to stay and a recognition of its impact and utilization.

How do the sentiments of crypto investors reflect broader trends regarding President Biden’s regulatory approach to cryptocurrency, and what should his administration do to address these concerns?

Regulation is inevitable. The sooner the crypto community accepts that reality, the sooner we can help create a regulatory environment that promotes growth in the sector and protects consumers, preventing nefarious behavior at the same time.  For over two years, I have been encouraging crypto investors and crypto thought leaders around the globe to be at the table during the development of these inevitable regulations rather than wait until they are being implemented and then complain. Our government is for, by, and of the people, so our crypto industry should ensure at this stage that the regulations are fair, inclusive, preventative, and promote growth.  The Biden Administration has a golden opportunity to set forth a set of regulations that do just that, and they should do so in short order.  It’s time for regulators to enforce regulations that tell consumers and investors how THEY CAN safely invest and participate, rather than always scaring us into why WE CAN’T OR SHOULDN’T.

Based on their recent actions, how do you think Donald Trump’s and Joe Biden’s approaches to cryptocurrency regulation compare?

I think because cryptocurrency is still somewhat of a new frontier, my hope is that whether it is Donald Trump or Joe Biden, the regulatory environment as it will relate to cryptocurrency will be one – let me put it another way, I believe it must be one that regardless of who it is, regardless of which party is in control, and in power, I believe that cryptocurrency regulation must find a healthy balance between being supportive of the industry and the growth of the sector, at the same time doing what regulation’s original intent is, which is to prevent nefarious behavior and protect the unsophisticated investor and consumer. I don’t think it matters which of these two gentlemen is President, I really believe that that is what the cryptocurrency sector requires. The regulations that will be created, implemented, and enforced by either of them should, and I hope, contain that healthy balance.

Depending on who wins the election, what might the regulatory landscape for cryptocurrencies look like in the U.S. over the next four years?

Regardless of which administration is in place, cryptocurrency, as we all know, is still somewhat of a new frontier. So, I think the regulatory environment for the next four years, regardless of which administration, could be some trial and error. It could be some hit-and-miss, which is not uncommon when regulations for a new industry are put in place. Sometimes, they miss the mark a little bit because not everybody fully understands the sector, and I think that’s very much the case here with cryptocurrency. So I think what you’re going to see are some regulations, regardless of which administration, that will need to be tweaked, will need to be enhanced, will need to be amended, and may even need to be deleted in the future. So I think that’s what the next four years are going to be like. Trial and error hit and miss, and kind of the regulatory dance, as I call it, until you get settled in with the regulatory environment that fosters that balance that I referenced.

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Theo Crypto News

DeFi

Web3 games must focus on quality over tech hype to succeed, claims Aphone CBO

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William Paul Peckham, chief business officer at APhone, recently sat down for an exclusive interview with crypto.news, offering his insights on the intersection of Web3 and the mobile gaming sector. 

Mobile gaming is booming. It’s a .74 billion market, commanding half of the global gaming industry. With the core appeal of the sector being accessibility and convenience, it has become a dominant force in the entertainment business.

But innovation never rests. Enter Web3, the game-changing catchall phrase promising decentralization, security, and true ownership of digital assets. With it comes the promise to empower players, giving them control over their in-game assets and creating new economic opportunities.

Yet, this revolution faces hurdles. Developers struggle with blockchain integration, and user adoption remains slow. 

So, what’s holding back Web3’s entry into mobile gaming? Peckham believes that the main barriers are restrictive app store policies and hardware limitations that hinder broader accessibility.

What are the main barriers to entry for new users in Web3 gaming, and what steps are being taken to simplify the onboarding process for a broader audience?

Hardware is probably the biggest one. We’re seeing plenty of AAA Web3 games hit the market or getting ready for launch. These games require a certain level of GPU spec to run, which means they are targeting a specific type of gamer. For the mobile gamer, there is now a rise in mobile Web3 games, but they’re accompanied by a misconception that to play these games, you need the latest iPhone or Samsung. It’s just not true. APhone lets anyone run Web3 games on even the most basic old smartphone for just a year, lowering the barriers in a major way. 

What challenges do mobile game developers face when integrating blockchain technology to support live, dynamic Web3 gaming environments, and how can these challenges be mitigated?

Players are naturally drawn to the allure of immersive graphics and gameplay experiences and seek the thrill of cutting-edge advancements. But, these elements are also a real problem when it comes to potentially limiting the available player market. Whereas many PCs can support these abilities, gamers – especially those in developing nations – simply don’t have the latest hardware. To ensure these players aren’t missing out on the action, it’s important for developers to be aware of solutions that can use the decentralized cloud to handle the CPU and graphics requirements so that players can log in regardless of the hardware device they own.

Given the current landscape of mobile gaming and its rapid growth, how can developers ensure that Web3 elements do not compromise the accessibility and user-friendliness that mobile gamers are accustomed to?

I think the key thing is to focus on the quality of the game and make the Web3 elements secondary. Not many players are choosing games because of NFTs or because they like a Web3 wallet design. They’re choosing games because they like the graphics, the premise sounds interesting, the lore is well-designed, and the gameplay is engaging. Also, if Web3 games require too much knowledge or too many setup steps, they’re going to alienate less technical players who just want to get straight into the game. 

How do you envision Web3 technologies altering the traditional revenue models in mobile gaming, particularly with the introduction of microtransactions and tokenization?

Incentives are key. Web3 has proven that if you design an intelligent incentive system, you can attract users and earn their loyalty. This is the complete opposite of mobile gaming, which traditionally has required users to pay to play, pay to unlock features, or basically spend to get beyond the freemium version. If mobile games were to instead incentivize their users rather than looking for ways to exploit them financially, they can tap into a whole new type of user and unlock a new wave of gamers. For all of this to be successful, however, we need to get past Apple and Google app stores, which aren’t amiable toward Web3 technologies, for the most part.

In what ways can Web3 mobile gaming platforms leverage blockchain technology to enhance security and trust, particularly in peer-to-peer transactions and the ownership of digital assets?

Gatekeeping and censorship are huge issues that stand in the way of a lot of innovation this is partly why we created APhone. The fact that app stores can delete apps or users that don’t align with arbitrary policies or some political change is a gross misstep. Web3 mobile games put the power to choose in the hands of the user. You are human, and you want to play a game. Why does it matter where you come from or if you can earn tokens from the game? The new internet is a more freeing place. I also think the transparency of interactions between players and the immutable nature of digital asset ownership will prove to be must-haves for players. Being able to store assets in your wallet on the blockchain means that even if something goes wrong with the game, like bugs, lags, freezes, or whatever, you still have the asset under your ownership and control.

How is APhone navigating these waters?

Unless Apple and Google change their policies on Web3 technology and crypto over the next years, I foresee a battle taking place between virtual cloud phones and Web3-enabled handsets. Our approach is to give developers more of an incentive to deploy apps and users more sovereignty over their data and abilities to access Web3 technology. APhone’s Web3 virtual cloud smartphone app is a more viable method of getting gamers into Web3 games, as they don’t need to buy a new device; they can just use their smartphone and access APhone through that. There’s no need for them to be concerned about hardware limitations based on their smartphone – they can leverage RAM and GPU via the cloud. 

Based on current trends, what are your predictions for the integration of Web3 technologies into mainstream mobile gaming over the next five years?

Mobile gaming has grown in popularity. In 2024, the mobile gaming market is projected to generate a revenue of US .74 billion worldwide, and mobile gaming makes up 50% of the global gaming market. The entire Web3 gaming market, regardless of console or device, is worth bn or so by comparison. So, over the next five years, Web3 is going to take a large percentage of that, but for it to work in this growing space, I see the need to make use of existing hardware instead of requiring people to buy new devices.

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Theo Crypto News

Altcoin

Should you buy Ethereum? Bitwise CIO shares 3 reasons to be bullish

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Matthew Hougan, Chief Investment Officer (CIO) at Bitwise Asset Management has shared his outlook for crypto – specifically why Ethereum may be good addition to an investor’s portfolio.

Hougan said in an X post there are three reasons one may want to add ETH to their portfolio, and one other reason investors could choose to stick with a Bitcoin-only portfolio.

Hougan cautions that his comments do not constitute investment advice. However, he thinks the upcoming launch of spot Ethereum ETFs in the US means most people may find this a good time to add the world’s second largest cryptocurrency to their wallets.

Why consider ETH for a portfolio?

According to Hougan, it’s down to diversification, Bitcoin and Ethereum’s use cases targeting different and historical analysis. There, three reasons.

Commenting on the diversification aspect, he compares the investment landscape during the dot.com boom to the current crypto market. He wrote:

“It is very hard to predict the future with precision. Ask any investor from the dot-com boom who bought AOL or Pets.com. They got the overall bet right—the internet is going to be big!—but the specifics wrong.”

Today, crypto is an emerging technology with all the potential to change the world. But while it’s impossible to predict the future, one way to go about it is “own the market.” A scenario where its 75% BTC and 25% ETH could be “a good default starting place.”

The second reason why the Bitwise exec thinks it might be wise to add ETH to a portfolio is Bitcoin and Ethereum’s use cases.

While Bitcoin is “the best form of money that has ever existed,” Ethereum’s focus is to make money programmable. Stablecoins and DeFi are among the top applications relying on this new system.

Although difficult to say what applications will make the most the new technology, broader exposure to both BTC and ETH may work for a portfolio.

For the third reason, Hougan opines, it’s the historical analysis.

“Adding ETH to a portfolio over a full crypto market cycle has historically boosted both your absolute and risk-adjusted returns compared to adding BTC only,” he said.

An example of a portfolio with ETH

A sample portfolio showing performance between May 31, 2020 and May 31, 2024 shows that a traditional 60/40 portfolio had a cumulative return of 31.47% and annualized return of just 7.06%.

In comparison, adding 5% to such a portfolio with 100% BTC allocation has cumulative returns jumping to 54.49% and annualized return at 11.46%. With ETH added, this increases to 56.32% and 11.79% respectively for cumulative and annualized returns.

Notably, the portfolio with ETH added shows both a higher return and lower maximum drawdown.

But Hougan also says:

“My view, in a word: If you want to make a broad bet on crypto and public blockchains, you should own multiple crypto assets. If you want to make a specific bet on a new form of digital money, buy Bitcoin.”

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Theo Crypto News

DeFi

‘Pharma Bro’ Martin Shkreli, Barron Trump exposed as alleged DJT creators

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On-chain sleuth ZachXBT exposed Martin Shkreli, widely known as “Pharma Bro,” as the creator of the new Solana-based meme coin, called TrumpCoin (DJT).

On June 19, Arkham Intelligence announced a 0,000 bounty for exposing the deployer of DJT. A few hours later, ZachXBT claims that Shkreli is the creator of the meme coin after he “panic” messaged the on-chain investigator. 

However, Shkreli, who served around seven years in prison with a million fine for committing securities fraud, claims that former U.S. President Donald Trump’s 18-year-old son, Barron Trump, is also involved in the meme coin. He added:

“I did not act alone.”

Moreover, Shkreli said in an X post that the keys to the token’s contract are with “Trump” — pointing out Barron Trump. Screenshots shared by ZachXBT show Shkreli claiming that he has more than “1,000 pieces of evidence” proving the involvement of the 18-year-old Trump in the meme coin’s deployment. 

In addition, in an X Spaces on June 18, Shkreli claimed that the former U.S. President also approved the project and a total of 10 people were involved in its launch. He even claimed that Trump has been discussing the potential listing of TrumpCoin with the Kraken crypto exchange.

Despite the drama surrounding the meme coin, DJT surged by 29% in the past 24 hours and is trading at .015 at the time of writing. The asset’s market cap is currently sitting at 5 million with a daily trading volume of million.

DJT price – June 20 | Source: birdeye.so

However, the price movement of the meme coin has some investors worried as TrumpCoin took a sharp fall from its all-time of .038 on June 18. 

There have been no updates from the former U.S. President regarding the launch of an official meme coin yet.

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Theo Crypto News

Phân tích

AI altcoins rally as Nvidia stock gains bullish momentum

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Fetch.ai (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN) have recorded impressive gains as the Nvidia stock price hikes. 

FET is up by 35% in the past 24 hours and is trading at .71 at the time of writing. The asset’s market cap is currently sitting at .43 billion, making it the 61st-largest cryptocurrency. Fetch.ai’s daily trading volume doubled over the past day, reaching almost 0 million.

FET, AGIX and OCEAN prices – June 20 | Source: Santiment

AGIX recorded a quite similar run. The AI token gained 29% in the past 24 hours and is trading at .68 at the reporting time. Its market cap is hovering close to the 0 million mark with a daily trading volume of 6 million.

The third partner of the Superintelligence Alliance (ASI) token, OCEAN, also recorded a 27% surge over the past day and is currently trading at .68. The asset’s market cap is sitting at 0 million at the time of writing. OCEAN’s 24-hour trading volume increased by 180%, reaching million.

In April, the Artificial Superintelligence Alliance announced that FET, AGIX and OCEAN would be merged into a single token. On June 3, SingularityNET shared the following conversion rates of the tokens to ASI: 

  • FET will be converted to ASI at a conversion rate of 1:1.
  • AGIX will be converted to ASI at a conversion rate of 1:0.433350.
  • OCEAN will be converted to ASI at a conversion rate of 1:0.433226.

The surge in the AI tokens comes as the Nvidia stock recorded a 3.51% hike on Wednesday — closing the day with a price of 5.58.

It’s important to note that the California-based graphics processor manufacturer is called one of the “three horsemen of AI” by MarketWatch. Notably, Nvidia has been developing an enterprise-level AI platform.

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Theo Crypto News

DeFi

COVAL plunges 41% amid Coinbase delisting

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Circuits of Value (COVAL) has witnessed a deep dive in its value as the Coinbase crypto exchange decided to suspend trading for the asset.

COVAL plunged by 41% in the past 24 hours and is trading at .01 at the time of writing. The asset’s market cap is sitting at .4 million, making it the 892nd-largest crypto. COVAL’s daily trading volume increased by 2,760%, reaching .75 million.

COVAL price and exchange activity – June 19 | Source: Santiment

Following the price fall, COVAL is down by 99.99% from its all-time high of 3.01 in January 2022. 

COVAL is the native token of the Circuits of Value ecosystem which offers an asset management platform and an exchange. The token was launched on the Ethereum blockchain in early 2015.

The COVAL price plunge comes as some users claim that Coinbase has decided to stop supporting the asset with a notification earlier today. This made many users complain about the exchange’s approach in delisting COVAL with a very short time window. 

Coibase did not respond to crypto.news’ immediate request for comment on the matter.

One X user, called Satoshi kakaroto, claims that the team behind COVAL has been involved in the token’s price manipulation. 

On March 3, claimed that three Circuits of Value developers drained a huge amount of the token’s supply, calling it a “Pump & Dump” project.

According to data provided by Santiment, the number of COVAL active exchange deposits surged from zero to 29 over the past 24 hours. 

Moreover, the number of COVAL active exchange withdrawals increased from seven to 59 over the past day. This shows that investors have been trying to swap or withdraw their COVAL holdings due to the Coinbase delisting.

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Theo Crypto News

DeFi

DeFi protocol Morpho becomes first L2 to launch on Base

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Morpho, a decentralized finance (DeFi) lending and borrowing protocol on Ethereum, has become the first layer-2 to launch on Base, an L2 scaling network for Ethereum that Coinbase introduced in 2023.

While Morpho initially launched on the Ethereum blockchain, its going live on Base to tap into a growing DeFi ecosystem.

Morpho is a protocol that offers a peer-to-peer platform for liquidity, with users able to tap into a more robust capital utilization rate.

Morpho is first L2 on Base

Paul Frambot, the CEO of Morpho Labs, commented on the deployment on Base, noting that while he originally opposed the idea of expanding onto a second chain, “things have changed.”

In a post on X on Tuesday, Frambot said that Morpho now has the capacity to become the top lending and borrowing protocol on Base.

“Today, Morpho is launching on Base, the first L2 in its history. For the past two years, I have been opposed to deploying on any other chain because I wanted Morpho to maintain a narrow focus. At the time, we couldn’t envision a new deployment doubling Morpho’s TVL. But things have changed.”

In any case, the protocol’s Base platform could outpace the Ethereum version in the next one year, the Morpho Labs CEO added.

Earn, borrow, build

Morpho’s launch on Base brings several features that the community can look to leverage. It includes MetaMorpho Vaults, a feature that provides for optimized yields via passive lending.  Users earn when they deposit assets into a vault.

Users can also borrow from Morpho Markets, accessing this when they deposit a collateral. For instance, the cbETH/USDC market allows one to borrow the USDC stablecoin with cbETH as collateral.

With Base seeing greater adoption across the market, the potential onboarding of the next wave of users will be crucial to Morpho’s growth.  

Currently, DeFiLlama data indicates Morpho has a total value locked (TVL) of .82 billion.

At the start of the year, the TVL stood at approximately 7 million, which suggests the on-chain P2P layer has recorded a TVL increase of nearly 205% year-to-date.

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Theo Crypto News

Altcoin

Crypto liquidations plunge over 80% as the market consolidates

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Cryptocurrency liquidations declined 80.26% as the broader market consolidates amid low volatility and neutral sentiment.

According to data provided by Coinglass, total crypto liquidations currently sit at .4 million — in the past 24 hours. This shows that the broader cryptocurrency market hasn’t seen big movements.

Crypto liquidations map – June 16 | Source: Coinglass

Here’s what to know:

  • Long positions are worth roughly .8 million
  • Short trading positions, .5 million in liquidations.
  • Ethereum (ETH) leads with million in liquidations — .5 million longs, .5 million shorts.
  • Notcoin’s (NOT) liquidations came in third after a group of small-cap crypto assets, reaching .9 million
  • Bitcoin (BTC), secured the fourth spot reaching .25 million — with .44 million worth of long positions liquidated in 24 hours.
  • Data shows that almost half of the liquidations, million, come from Binance, the largest crypto exchange by trading volume.
  • Seychelles-based exchange OKX has the second spot with million in liquidations
  • OKX accounts for over 30.7% of the global liquidations.
  • Total cryptocurrency open interest increased by 0.2%, reaching .3 billion.

The global crypto market capitalization currently hovers at around .54 trillion, according to CoinGecko. 

BTC and ETH have been consolidating around the ,000 and ,500 marks over the past 24 hours. Both of the leading cryptocurrencies have been witnessing small movements as the broader market weathers neutral sentiment.

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Theo Crypto News