Author: Yeek.io

The SPX6900 token continued its strong uptrend on Wednesday, reaching its highest point since January. SPX6900 (SPX) price rose for the fifth consecutive day, reaching a high of $1.62, up by 548% from its lowest point this year. This surge has pushed its market capitalization from $275 million in March to $1.4 billion.  The SPX token surge coincided with ongoing whale accumulation. Nansen data shows that whales now hold 105.29 million coins, up from 104 million on May 13 this year. SPX whale chart | Source: Nansen Similarly, public figure holdings of the SPX token rose to 31.97 million, up…

Ethereum price made a bullish breakout this week, reaching a high of $2,832, its highest level since February 4. Ethereum (ETH) has jumped 102 percent from its lowest level in April, giving it a market capitalization of $333 billion. Currently trading at around $2,800 there are four reasons why the coin can soon rise to the $3,000 level. 1. Ethereum ETF inflows continue Wall Street investors are aggressively buying Ethereum funds, a sign that they expect further upside. SoSoValue data shows that inflows rose by $124.9 million on June 10, bringing cumulative inflows since inception to $3.5 billion. These fund…

aura, a Solana-based memecoin, surged from $1 million to $50 million in market cap within 4 hours today, but a crypto scam tracker has flagged it as a potential rug pull. According to CoinGecko data, aura (AURA) surged from $0.001 to a high of $0.005 on June 11, marking a 400% gain in a few hours. Its trading volume skyrocketed by over 115,000% from the previous day. Interestingly, there was no official update or announcement from the project that could explain such a steep rally. As of press time, AURA was still up 4,130% over the past 24 hours, trading…

Polygon co-founder Sandeep Nailwal has been appointed CEO of the project’s foundation, marking a strategic shift to accelerate decision-making and double down on scaling AggLayer. Sandeep Nailwal, co-founder of Polygon (POL), has been appointed CEO of the project’s foundation. The move aims to speed up decision-making amid increasing competition in the blockchain industry, Nailwal said in Bloomberg interview. He noted that before his appointment, the foundation’s institutionalized and decentralized decision-making had introduced “all sorts of slowness” into the operations. Additionally, Nailwal’s appointment stems from a growing unrest within the Ethereum (ETH) community regarding its strategy, which heavily depended on Layer…

The leading decentralized exchange (DEX) aggregator, 1inch Network, has introduced its new “Pathfinder” algorithm, promising to revolutionize token swaps on decentralized exchanges. This development enhances swap efficiency, with it improving swapping rates by up to 6.5% and reducing gas costs. The development comes at a time when DeFi platforms are under pressure to offer competitive advantages amidst rising user expectations and market fragmentation. As per the official blog post, the new algorithm is designed to find more efficient token-swapping paths while consolidating swap steps and maximizing use of concentrated liquidity. This makes classic swaps faster and more profitable, as well as maintains…

A 38-year-old Russian founder of a cryptocurrency payment firm has been charged by the United States Department of Justice for the operation of a multi-million dollar money laundering scheme. According to a DOJ statement released on June 9, Iurii Gugnin, the New York-based founder of crypto firm Evita is facing a a 22-count indictment for charges revolving around the use of his company to funnel more than $500 million in illicit funds. Prosecutors allege that Gugnin moved the funds through the U.S. financial system to support transactions for sanctioned Russian banks, defraud American financial institutions, and aid the export of…

PENGU surged 8% after bouncing from the 0.618 Fibonacci level, often viewed as a strong bullish support. Analyst targets of $0.017 and $0.025 remain long-term scenarios, barring immediate bullish continuation. Pudgy Penguins [PENGU] staged a sharp recovery on the daily chart, breaking out from a descending channel to hit $0.0125. Since hitting these levels, though, the memecoin has fallen to a low of $0.01166. Waddle back or break away? Source: Ali Martinez on X Naturally, this retracement raised eyebrows—but not all see it as a setback. According to analyst Ali Martinez, the decline was a textbook correction to the 0.618…

Uniswap is showing strong signs of a bullish reversal after breaking out of an inverse head-and-shoulders pattern on the daily chart. According to data crypto.news, Uniswap (UNI) UNI shot up over 20% in the past 24 hours, hitting a high of $8.61 on June 11, up 84% from its April low. Its market cap has surpassed $5 billion, flipping that of Aave (AAVE). Meanwhile, its daily trading volume increased by more than 150% over the previous day to nearly $1.39 billion. In the derivatives market, open interest surged 54% to a record $713 million, showing that more traders are betting…

Popular crypto trader James Wynn has opened a large long position on PEPE in an attempt to pursue profit. Analysis from the past 24 hours indicated that more market participants were aligning with this sentiment as acquisitions increased. Pepe [PEPE] has started trending upward over the last 25 hours, recording a 2.15% gain—an extension of its performance over the past week. Market analysis suggests the asset has the potential to continue this upward trend. However, there is a risk of reversing gains, especially as a high-profile trader weighs in on the asset. Whale re-enters market with PEPE after $1B BTC…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Recently, France and Vietnam have propelled Telegram straight to the headlines. Yet, no government intervention could stop it from hitting a billion-user landmark last March. Pavel Durov’s creation has become the go-to global messaging app and has also secured its place as a community hub among web3 aficionados and early blockchain adopters.  Simple, reliable, and offering not just promises but a readymade platform, Telegram represents the opportunity of a millennium for the crypto industry to scale into…