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Bitcoin price slides below $63,000, triggering a spike in long liquidations
Bitcoin price slides below $63,000, triggering a spike in long liquidations

Bitcoin long liquidations reached nearly $48 million in the past 24 hours as the price fell below $63,000.The broader crypto market saw over $161 million in liquidations, with around $153 million in long positions.Bitcoin is currently trading at its monthly low of $62,270, 15% below its all-time high reached on March 14.

The Block·2024/06/24 07:32
Bitget Futures Market Updat
Bitget Futures Market Updat

Bitget·2024/06/24 06:08
South Korean think tank says spot crypto ETFs do more harm than good for local economy
South Korean think tank says spot crypto ETFs do more harm than good for local economy

The Korea Institute of Finance’s latest report on spot crypto ETFs said such types of funds may weaken the local economy.South Korean regulators currently prevent local issuers from launching crypto ETFs.

The Block·2024/06/24 05:22
Light Protocol and Helius Labs introduce 'ZK Compression' to further scale Solana apps
Light Protocol and Helius Labs introduce 'ZK Compression' to further scale Solana apps

Quick Take Light Protocol and Helius Labs have introduced “ZK Compression” to further scale applications on the Solana network. ZK Compression utilizes state compression to store data in Solana’s cheaper ledger space instead of the more expensive account space.

The Block·2024/06/24 05:10
Ripple v. SEC Lawsuit Update June 24
Ripple v. SEC Lawsuit Update June 24

Here’s what you need to know about Ripple’s legal woes as of June 24th.

Cryptopotato·2024/06/24 04:40
Bitcoin Double Top? Is It Time to Panic? How Low Prices Could Plunge?
Bitcoin Double Top? Is It Time to Panic? How Low Prices Could Plunge?

Institutional Crypto Research Written by Experts

10xResearch·2024/06/24 02:38
Flash
11:24
Tokenized Fund USTB's Aave Deposits for the Second Quarter Increased by Approximately 300% Quarter-over-Quarter
BlockBeats News, July 6th, according to Token Terminal data, the tokenized US Treasury bond fund USTB, under the Invesco umbrella, saw a quarter-over-quarter growth of around 300% in its deposits into Aave during the second quarter. Managed by Invesco and based on Superstate's FundOS for transfer agency and tokenization infrastructure issuance, USTB demonstrates the ongoing deepening integration of Real World Assets (RWA) with DeFi protocols.
11:20
Nasdaq's "Special Accommodation" Welcomes SpaceX: $42 billion Passive Fund Inflow, True Test Comes on August 6th
BlockBeats News, July 6th: The fund manager tracking the Nasdaq 100 Index will complete a forced rebalancing after the local market closes on Tuesday, with approximately $4.3 billion passive buy-in of SpaceX (SPCX) shares. Tens of millions of American investors holding Nasdaq funds in their 401(k), IRA, or regular brokerage accounts will "passively" become SpaceX shareholders without their knowledge. Starting on July 7th, SpaceX will officially become a constituent stock of the Nasdaq 100 — the fastest company to join a major U.S. index in history, with the related fund holding accounting for approximately 0.5% to 0.7%. Nasdaq had previously required newly listed stocks to be traded for a minimum of 3 months and have a public float of at least 10% to be included in the index. However, a new rule that took effect on May 1 significantly lowered the threshold — as long as the market value squeezes into the top 40 of existing index components, a "fast inclusion" can occur with only 15 trading days' notice given 5 days in advance. This rule coincidentally landed just six weeks before SpaceX's IPO on June 12th. Critics have called this time window "too short to achieve price discovery," and have even directly criticized it as "the most shameless manipulation of a major index," benefiting the company, existing shareholders, and the exchange at the expense of passive fund holders who are forced to bear the price cost. With SpaceX's public float accounting for only 3% to 5%, coupled with the float-weighted multiplier, the amount of passive fund buying far exceeds the actual float capacity. Meanwhile, S&P has remained unchanged, with the S&P 500 maintaining its original 12-month observation period and unchanged thresholds like four consecutive quarters of GAAP profitability. SpaceX reported a net loss of $4.28 billion in the first quarter and is projected to have a full-year loss of $4.94 billion in 2025, with the earliest possibility of meeting S&P inclusion requirements not until mid-2027. Analysts point out that the real test will come on August 6th — when the company releases its first-quarter earnings report and approximately 20% of insider shares become unlocked, causing passive buying pressure to disappear and potential selling pressure to emerge, possibly leading to a supply-demand reversal.
11:20
According to a newly reached agreement, Baker Hughes Co will deploy its advanced suite of cable logging, perforation, and drillstem testing technologies, aiming to optimize oil and gas field production efficiency.
The agreement signifies that the company is advancing by integrating cutting-edge downhole diagnostics and completion services to provide clients with enhanced oil and gas recovery solutions. This move is expected to achieve more precise data acquisition and more efficient workflows in complex reservoir environments, thereby driving production growth. The company is committed to leveraging innovative technologies to address ongoing challenges in the energy sector, helping operators improve asset value and operational performance.
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