BTC: 29468 USDT （-2.73%）

ETH:1813.6 USDT （-11.23%）

BNB: 305.8 USDT （-4.26%）

ADA:0.48 USDT （-11.6%）

SOL：44.98 USDT （-14.2%）

DOGE：0.082 USDT （-3.73%）

BTC price drops for nine consecutive weeks, breaking records

From March 28 to May 29, BTC fell from $48,189 to $29,468, a streak of nine consecutive weeks of decline, or 38.8 percent overall. QCP Capital said the S&P and Nasdaq have traded about 10 percent higher since the May 20 low, while both BTC and ETH have traded lower over the same period, or about 22 percent lower this month . Perhaps taking advantage of this bear market, bitcoin may continue to fall giving more people the opportunity to get in.

MicroStrategy Hasn't Sold Any Bitcoin

MicroStrategy CEO Michael Saylor said in a recent Fox News appearance that MicroStrategy has not sold any bitcoin and will buy more as soon as it has spare cash. as soon as it has spare funds. In addition, Michael Saylor said that MicroStrategy plans to always buy bitcoin at the "top" price.

ETH Upgrade Coming in August

ETH co-founder Vitalik Buterin said that an upgrade to ETH will take place in August. The "merger" will move the ethereum blockchain from a "proof of work" (PoW) consensus mechanism to a "proof of stake" (PoS) mechanism, with the new mechanism replacing miners with The new mechanism replaces miners with ETH pledgers to perform the same task. Vance Spencer, co-founder of venture capital firm Framework Ventures, said the merger will be the most important event in the crypto space so far this year. The upgrade could reduce daily ETH output by as much as 90 percent.

According to the data of OUKEYUNCHAIN on-chain guru, bitcoin arithmetic power has increased by 21% since 2022. The current network-wide arithmetic power reaches 209.89 EH/s and the network-wide difficulty is 31.25T, both at historically high stages. Since July 6, 2021, when Bitcoin's network-wide arithmetic hit a 2-year low (87.8 EH/s), network-wide arithmetic has started to grow significantly, and current network arithmetic has risen over 139% from July 2021.

The data shows that 51% of the investment capital received by blockchain companies worldwide in 2022 will come from the U.S., 18% from China, 5% from Switzerland and 4% from the U.K. The blockchain market is expected to grow from $7.18 billion to $67.4 billion by 2026, at a compound annual growth rate of 68.4%.

Benefiting from the high yield of USDD (the algorithmic stable coin launched by Tron), Tron's TVL continued to grow at a high rate, rising 14.7% this week and 46.46% in a single month, making it the only public chain to rise in the top 10. The top three public chain TVL rankings are Ether, BNB Chian and Tron, and the biggest decliners in May are AMAX and FTM.

Solana holds the top spot with 6.45M seven-day active addresses, up 11% from last week, and as much as 98.46% ahead of BNB Chain in second place, further widening the gap between the two. Ether is in third place with 1.71M, down 10%. Affected by the downward trend of the market, most public chains saw a small decline of 3% to 10% in daily activity, but Celo surged, with an increase of over 46% in weekly active addresses.

Bored Ape Yacht Club continues to hold the top spot with a market cap of $2.09 billion, down slightly from last week's market cap and floor price; Otherdeed has the largest number of giant whale users and is performing well; the Goblintown.wtf project floor price is up over 300% in one week and is performing strongly.

The crypto industry completed 47 rounds of funding this week, with a total funding amount of $856M, a slight decrease compared to last week. web3 track is still the hottest investment track, with 17 rounds of funding completed last week, accounting for 36%. nft and infrastructure ranked second and third with 14 and 12 rounds respectively, while DeFi and CeFi track investments were relatively cool.

The largest project with the largest amount of funding last week was StarkWare, the developer of Ether Layer 2, which announced the completion of $100 million Series D funding at a valuation of $8 billion, led by Greenoaks and Coatue; followed by Babel Finance, a crypto finance provider, which completed $80 million Series B funding at a valuation of $2 billion, with Jeneration Capital, 10T Holdings, Dragonfly Capital and others participated.

• Data: Record Number of Addresses Holding at Least 1 BTC

• Data: ENS Domain Registration Revenue Has Exceeded $8 Million in May, a Record High

• Report: African Crypto Startups See 11x Growth in Venture Capital in 2022

• Coinbase Becomes First Crypto Company to Enter Fortune 500 at No. 437

• SpaceX to Send First Crypto Satellite "Crypto1" to Space

• Uniswap's Cumulative Trading Volume Surpasses $1 Trillion

• FTX Founder SBF Named to Time 100

• Bitcoin's Dominance Grows to 45%, Highest Level Since October 2021

• STEPN Announces Clearance of Mainland China Accounts, Will Stop Providing GPS and IP Location Services on July 15

• Bridgewater Associates Founder Dalio: Bitcoin is starting to take a place in my portfolio

• JPMorgan: Digital assets have replaced real estate as the preferred alternative asset class

• SEC Commissioner: Regulation of Cryptocurrencies Will Happen Sooner

• A&T Capital Founding Partner: STEPN Death Spiral Has Officially Opened

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