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T-Mobile 🤝 Bitcoin, Gensler Costing Biden the Election, and Bitcoin Miners Moon

And Bitcoin to $8 Million? I wouldn't be sad.

Author

Justin
June 17, 2024 • Read Time: 8 minutes

Over the weekend, T-Mobile’s Deutsche Telekom ditched phone lines for Bitcoin lines, running nodes and planning to mine—because who needs telecom when you have crypto, right?

This is a game-changer, signaling that major corporations are no longer just curious onlookers but active participants in the crypto space. This move highlights the growing acceptance and integration of blockchain technology in traditional industries.

As giants like T-Mobile adopt Bitcoin, it not only validates the cryptocurrency’s staying power but also paves the way for broader institutional involvement, potentially driving mainstream adoption and innovation within the crypto ecosystem.

Buckle up for another wild week in crypto! Lots to catch up on—let’s dive in.

  • T-Mobile Deutsche Telekom are running Bitcoin nodes, Lightning nodes and will start mining — Read More

  • Total crypto investments cross $101B, with industry giants securing billion-dollar rounds. — Read More

  • Gemini pays $50M to settle investor deception case, bans future NY lending programs. — Read More

Sky-high valuations and wild forecasts in the Bitcoin arena—because who doesn’t love a bit of market mania with their morning coffee?

U.S.-Listed Bitcoin Miners Hit Record $22.8B Market Cap

U.S.-listed Bitcoin mining companies hit a record collective market capitalization of $22.8 billion in June, with best gains attributed to Core Scientific's AI deal, according to JPMorgan. The report also noted a continuous increase in the share of global network hashrate by these miners, reflecting buoyant investor sentiment and strategic industry moves.

Michael Saylor's $8 Million Bitcoin Vision

At a Prague event, Michael Saylor, proponent of Bitcoin, predicted it could soar to $8 million each, warning that many might miss this explosive growth amid MicroStrategy's moves to boost its Bitcoin cache. Saylor’s prediction reflects his bullish outlook since buying Bitcoin at $9,500, despite his initial dismissal at $892, signaling his belief in Bitcoin's major potential leap from its current $66,000 value.

Bitcoin ETFs Draw Cautious Approach from Advisors, BlackRock Exec Reveals

Despite a $50 billion inflow into Bitcoin ETFs since January 2024, financial advisors are slow to adopt, cautious due to volatility and unclear regulations. BlackRock's Samara Cohen highlights the hesitancy is fueled by fiduciary duty and the market's erratic nature.

Ethereum's making Bitcoin look like it's standing still, gunning for $5k with its rocket boots on! (Or so they say.)

Ethereum ETF Expected to Launch in July

According to Bloomberg ETF analysts, the second crypto ETF could go live as soon as July 2. As of right now, the ETF is not expected to face any major delays.

Ethereum Outshines Bitcoin, Eyes $3,800 Resistance Level

Ethereum's recent rally sees it break past multiple resistance levels as it sharply outperforms Bitcoin, setting sights on the $3,800 mark. After rebounding from a low at $3,364, the cryptocurrency demonstrates strong bullish momentum, potentially setting the stage for further gains if it sustains above key support levels.

Analysts Forecast Ethereum to Hit $5,000 Despite Recent Dip

Despite a recent price dip, Ethereum is pegged to surge to $5,000 by 2024, with robust buying activities by whales and bullish signals from underlying metrics like RSI. The shift towards self-custody and persistent market optimism underscore a potential for hitting new highs, buoyed particularly by sizable whale purchases.

NEAR bets big, Polkadot flirts with danger, and Solana teases victory—all in a day's speculation.

NEAR Foundation Launches Nuffle Labs with $13M in Funding

The NEAR Foundation has spun off Nuffle Labs, bagging a cool $13 million to bolster its modular product line, led by Electric Capital. This strategic shift aims to enhance rollups and decentralize innovation, drawing powerhouse backers like Polygon’s Sandeep Nailwal and Primitive Ventures' Dovey Wan.

Polkadot Faces Bearish Signals Amidst Strategic Accumulation Opportunities

Polkadot's (DOT) technical analysis shows a bearish trend as it dips below vital indicators like the Ichimoku Cloud, raising investor concerns. However, analyst Michaël van de Poppe spots a silver lining, suggesting accumulation at these lower levels could spur future growth amidst an expanding ecosystem.

Solana's Tug-of-War: Prices Teeter on Edge

Solana (SOL) battles key resistance levels after recovering from a dip to $138; a push above $152.50 could signal a strong uptrend. Wavering near the crucial $150 mark, SOL eyes a bullish escape with potential to target the $160 level if current supports hold firm.

As crypto gaming sees more highs and lows than a soap opera series, these wild swings are a reminder that it's the Vegas of the investment world.

Crypto Gaming Tokens Take a Nosedive Amid Market Selloff

As Bitcoin and Ethereum witness moderate declines, gaming tokens like Guild of Guardians and PRIME have plummeted, recording losses up to 40% this week. The sharp drop reflects the high volatility characteristic of the emerging crypto gaming sector.

Crypto Gaming's Wild Week: TON Tokens and Epic Games Integration

This week telegraphed more drama in the crypto gaming sphere with Telegram games like Notcoin and Hamster Kombat deploying TON tokens, while Parallel blazes into the Epic Games circuit. Meanwhile, amidst a tumultuous crypto market, gaming tokens felt the heaviest blows, showing significant volatility and steep price falls.

Today in crypto: Gensler plays both ally and antagonist, teasing new ETFs while tightening the regulatory noose elsewhere - decisions that may sway voters and markets alike.

Mark Cuban Warns: SEC’s Gensler Could Cost Biden the Election

Mark Cuban suggests Gary Gensler's strict stance on cryptocurrency regulation as SEC chair might sabotage Joe Biden's re-election chances. While Cuban promotes regulatory clarity, his warning highlights the political weight crypto policies may carry in upcoming U.S. presidential elections.

SEC Denies Ripple's Request for Reduced Penalties in Ongoing Lawsuit

The SEC has thrown out Ripple's plea for a softer penalty in its legal feud, comparing the $10 million suggestion unfavorably to the harsher $876.3 million they propose, underscoring disparities with the Terraform Labs case. Despite Ripple's attempts to draw parallels and mitigate the fines, the SEC maintains that a steeper $102.6 million penalty is insufficient, escalating the case complexities.