Ripple Dumps $XRP

Alpha Team
June 07, 2024

📉 Ripple Prepares for Largest XRP Dump Since 2017

Upcoming XRP Dump: Ripple has prepared its treasury account for what could be the largest monthly XRP dump since 2017, reserving 400 million XRP tokens worth $208 million for its June sell-off. This move is expected to impact the circulating supply significantly.

Ripple Sells XRP: Following this preparation, Ripple sold $150 million worth of XRP from its June reserves. This substantial sale has already put pressure on XRP's market price, causing a noticeable dip and raising investor concerns.

Market Reaction: The sale led to a noticeable drop in XRP prices. Analysts suggest this move might be to raise funds for Ripple’s operations. Investors are advised to monitor XRP's performance closely amid this volatility. Read More.

️ On today's Top Picks:

🐇 Rabby launches Points Season 2.
🪂 Blast $BLAST Airdrop is officially 3 weeks away.
🛑 GameStop $GME trading halted several times.
👾 CoinGecko experiences data breach via GetResponse.

Read time: ⏰ 7 minutes

Crypto News

• ⭐️ Ripple Sells 150M $XRP worth ~$78M from its reserves.

• Kraken crypto exchange reportedly in talks for pre-IPO fundraising round.

• Robinhood $HOOD to buy Bitstamp crypto exchange for $200M.

• Bakkt $BKKT crypto custodian considers potential sale or break up.

• NYAG sues AWS Mining & NovaTechFX for allegedly operating $1B crypto pyramid scheme.

• Norwegian Government freezes & returns $5.7M connected to Ronin hack.

Alpha

• Solv Protocol launches 150K $SOLV Token Airdrop Campaign in collaboration with Binance Web3 Wallet.

• ⭐️ Rabby launches Points Season 2 with 1B points in total.

• NFT.

• Blast launches new GameFi Blast points multiplier.

• Superseed to launch its Testnet on June 10th.

• zkCandy posts "Testnet Status ▓▓▓▓▓▓▓▓▓▓▓▓▓▓ 100%.." on X.

• Bebop launches Hop On Taiko With Bebop Achievement on Rep3.

• Bebop launches 280K Arbitrum $ARB Hunt Campaign.

• Avantis increases vaults capacity to $10M.

• Jumper launches support for Blast.

• deBridge introduces deBridge P2P, a global OTC desk for DeFi.

• Catalyst launches Round 2 of Egg drops.

• Caldera launches Quest #5 of Caldera Crusade on Galxe.

• Pirate Nation Season One ends on June 10th at Midnight UTC.

Airdrops

• Weekly Airdrop Claims And News by Earndrop.

• ⭐️ Blast $BLAST Airdrop is officially 3 weeks away with 1 final Gold distribution before the airdrop.

• Mode launches DevDrop1 Rewards Claim for Photons & Orbs holders.

Finance News

• Core Scientific $CORZ rejects CoreWeave's $1B buyout offer

• Bitdeer $BTDR announces Bitcoin mining chip technology roadmap.

• Semler Scientific $SMLR acquires 247 additional Bitcoin & plans to raise $150M to buy more.

• US FTC launches investigation into Microsoft $MSFT $650M deal with Inflection AI.

• ⭐️ GameStop $GME trading halted several times amid increased price volatility.

Security and Exploits

• ⭐️ CoinGecko experiences data breach via third-party email platform GetResponse.

• Revoke adds support for Taiko.

• Commando Cat threat group exploits vulnerabilities in Docker & ThinkPHP to deploy crypto miners & web shells.

• LightSpy Spyware now targeting iOS & macOS users.

Token Unlocks

• Moonbeam / 3.04M $GLMR / ~$1.1M / JUN 11
• dYdX / 1.55M $DYDX / ~$3.4M / JUN 11

Funding

• The Sandbox, a virtual gaming world, raises $20M in funding co-led by Animoca Brands & Kingsway Capital.

• Mountain Protocol, a regulated yield-bearing stablecoin, raises $8M in Series funding led by Multicoin Capital.

• Glacier Network, a data-centric blockchain, raises $8M in Angel & Seed funding.

• XOCIETYofficial, a POP Shooter on Sui, raises $7.5M in Pre-Series A funding co-led by Hashed & Sui Foundation.

• Halo, a Web3 social app, raises $3M in Seed funding.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Ramses CL (Arbitrum)	USDCUSDC	66.47%
KiloEx (Op_bnb)	USDT	62.39%
Notional V3 (Ethereum)	NUSDC	62.21%
Abracadabra Spell (Arbitrum)	MIMUSDCUSDT	57.81%
Morpho Blue (Ethereum)	SUSDEDAI	53.99%
Avantis (Base)	USDC	48.32%
PancakeSwap AMM V3 (Ethereum)	USDCUSDT	45.96%
Indigo (Cardano)	IUSD	37.19%

. . .

🟠 Solv Protocol: Introducing SolvBTC, A Liquid Yield Token for Bitcoin

Solv Protocol: Solv Protocol is a unified platform for optimizing yield and liquidity across major assets. Backed by Binance Labs, NOMURA Group, Blockchain Capital.

Also, Ethena Partnership: Solv Protocol will integrate Ethena to launch the first yield vault for SolvBTC, allowing users to earn yields ($sUSDe yield + Ethena SATs + Solv Points) from Ethena’s strategies while maintaining Bitcoin exposure.

🪂 SOLV Token Airdrop Campaign: Solv Protocol and Binance Web3 Wallet have partnered to launch a 150,000 SOLV Token Airdrop Campaign. Users can join the campaign from June 4th to June 17th.

⚡️ Participation: New users can participate by registering for a Binance Web3 Wallet, while existing users can leverage their wallets to dive straight into BTCFi. Read more and tutorial below:

👉 Get the $SOLV 🪂 airdrop

. . .

That’s it for today’s edition! See you soon.

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