According to Spot on Chain, recent developments show that three wallets associated with the #Ethereum Foundation actively sold significant amounts of ETH. This activity was particularly notable last week and signaled significant movement in the cryptocurrency market. On the other hand, the sales occurring before the declines raised questions among cryptocurrency investors.
ETH Movements from the Ethereum Foundation
Two of the Ethereum Foundation's wallets recently disposed of 200 ETH, exchanging it for approximately 744,722 DAI at a rate of about $3,724 per ETH. This transaction is part of a broader trend observed since the beginning of 2024, where the Ethereum Foundation has sold a total of 2,166 ETH, accumulating approximately 6.21 million DAI in return.

These sales often occur before price drops, indicating a strategic approach to asset liquidation. Additionally, the 0xdb3 wallet made a significant deposit to Kraken about three days ago, transferring approximately $55.6 million worth of 15,255 ETH at a price of $3,648 per ETH. This ETH came from another Ethereum Foundation wallet, which is tagged as an early participant in the Ethereum ICO (Initial Coin Offering).
What Do the ETH Movements Mean?
The Ethereum Foundation's actions are critical as they reflect active asset management. The Foundation seems to leverage market conditions by selling ETH before expected price drops to optimize its financial position. This behavior may indicate a level of foresight and market analysis informing their transactions and strategic asset management approaches.
The significant transfer of ETH by the 0xdb3 wallet to Kraken is also noteworthy. Kraken, a major cryptocurrency exchange, provides a platform for liquidity and large transactions. This move likely indicates an intention to liquidate or manage these assets through the exchange's facilities. Given the scale of the transfer, this action underscores the Foundation's ability to efficiently move and manage large volumes of cryptocurrency.
The recent activities of the Ethereum Foundation reflect a strong stance in managing cryptocurrency assets. By strategically selling and transferring ETH, the Foundation demonstrates sharp market awareness and the ability to act accordingly.

In the US, 11 spot bitcoin investment funds saw a daily net outflow of $64.93 million on June 10, ending the longest inflow streak of 19 days. Grayscale’s GBTC led with a total outflow of $40 million this week. According to SosoValue data, Invesco and Galaxy Digital’s BTCO saw a net outflow of $20 million, with other funds also experiencing investor redemptions on Monday.
What’s Happening on the ETF Front?
Valkyrie’s #Bitcoin ETF fund reported a net outflow of $16 million. Fidelity’s FBTC fund saw a net outflow of $3 million, marking its first negative flow since May 2. BlackRock’s IBIT fund, the largest spot Bitcoin ETF by net assets, recorded a net inflow of $6 million, while Bitwise’s BITB fund saw an inflow of $8 million.
The record-breaking 19-day inflow streak, which ended on May 7, accumulated over $4 billion in net inflows. Since their inception in January, the 11 spot Bitcoin ETF funds have recorded a total net inflow of $15.62 billion.
According to crypto trading firm QCP Capital, Bitcoin’s price fell on May 7 after US non-farm payroll and unemployment data presented conflicting views on the US economy, leading investors to shy away from riskier assets due to uncertainty.

Developments in the Process
Markets are awaiting the release of the US Consumer Price Index (CPI), a key measure of inflation, as well as the Federal Open Market Committee meeting expected at the end of this week. CME Group predicts a 99.4% chance that the Fed will maintain the current interest rates between 5.25% and 5.50%, while a Reuters poll of economists suggests the Fed could cut rates twice starting in September this year.
Meanwhile, US ETF issuers are still awaiting feedback from the Securities and Exchange Commission regarding the S-1 registration statements they submitted late last month. Issuers need SEC-approved S-1 forms to officially launch spot Ethereum funds.
11 spot bitcoin funds saw a net outflow of $64.93 million on June 10.Grayscale’s GBTC led with a $40 million outflow this week.Markets await US CPI release and Federal Open Market Committee meeting.

Robert Kiyosaki, a well-known entrepreneur and author, explained that he believes #Bitcoin is the simplest way to achieve millionaire status. Kiyosaki acknowledges the challenges of becoming a millionaire through traditional entrepreneurship. According to Kiyosaki, entrepreneurship requires a high level of intelligence, dedication and luck to be successful. He notes that starting and growing a business is a challenging journey, often filled with obstacles that can deter even the most determined individuals.

The popular Ethereum-based Layer-2 network #zkSync shared the control page for the airdrop event. In the airdrop event in question, 17.5% of the total token supply will be distributed to users. The claim process starts on June 17. Excitement is at its peak for zkSync, where the total token supply is 21 billion, and ZK token is traded at $ 0.90 in the OTC market at the time of writing.
zkSync Airdrop Details Announced
The control page for the zkSync airdrop event, which has been on the agenda recently, was shared today. In the said airdrop event, 695,232 wallets were deemed suitable for airdrop and 3.6 billion ZK tokens, equivalent to 17.5% of the total token supply, will be distributed.

The world's largest cryptocurrency by market value, #Bitcoin (BTC), achieved its second-highest weekly close ever, driven by strong inflows into spot ETFs in the US, which acted as a significant catalyst for its rise. The crypto king demonstrated its resilience and continued investor interest by closing last week's candle at $69,640 after a highly volatile week.
US Employment Data Impacted Bitcoin
Bitcoin's price reached $71,949 on June 7, marking its highest level since May 21. Despite this rise, it failed to break the resistance level at $72,000. This resistance was partly due to stronger-than-expected US employment data reported in May, which had implications for future Fed interest rate decisions.
A strong labor market suggests that the Fed may not lower interest rates soon, and risk assets like cryptocurrencies typically benefit from looser monetary policies. Consequently, this created a macroeconomic headwind that temporarily halted Bitcoin's upward momentum.
Despite this obstacle, Bitcoin bulls showed strength in surpassing the $70,000 level. Currently, Bitcoin is trading at $69,540, indicating strong investor confidence. The significant inflows into spot-based Bitcoin ETFs last week were a major bullish factor, showing increased institutional interest and investment in the largest cryptocurrency.
Surpassing $73,000 Could Lead to $100,000
Bitcoin's price remains range-bound for now. According to Galaxy Digital CEO Mike Novogratz, Bitcoin needs to break the resistance level at $73,000 to enter a new trading range and potentially move towards $100,000. This indicates that despite the strong current momentum, significant resistance levels still need to be overcome.

Historically, Bitcoin's highest weekly close was recorded on March 11 at $73,794, following its all-time high, and then at $71,285 in March. After reaching this peak, Bitcoin experienced a sharp correction, with its price dropping to $56,500 on May 1 due to slowing ETF flows and stagflation concerns highlighted by prominent financial figures like JPMorgan CEO Jamie Dimon.
Although Bitcoin has recovered from these low levels, it has yet to firmly establish itself above the $70,000 threshold. One contributing factor was long-term Bitcoin investors distributing their BTC to new ETF investors. This redistribution of Bitcoin likely prevented the bulls from fully taking control of the market.

According to Yonhap news agency, South Korea's top financial regulator issued new guidelines on June 10 to provide regulatory clarity on NFTs. The guidelines state that the Financial Services Commission (FSC) will regulate certain NFTs as cryptocurrencies if they no longer possess unique qualities that distinguish them from cryptocurrencies.
South Korea and the Crypto Market
According to Yonhap, the FSC may classify an NFT as a cryptocurrency if it is mass-produced, highly tradable, divisible, or used for payments for goods and services. On the other hand, non-transferable crypto tokens with little or no economic value will be classified as regular NFTs. An example of this could be an #NFT proof of transaction or an NFT ticket for a concert.
An FSC spokesperson told Yonhap that a collection of about one million issued NFTs could be bought and sold and used as a payment method like cryptocurrencies. However, the FSC will review each case and stated that there will be no absolute standard for interpreting NFTs as cryptocurrencies in a regulatory context.

Details on the Law
The new guidelines precede South Korea's first crypto-focused regulatory framework, which will fully take effect on July 19. The law, called the Crypto Asset User Protection Act, aims to eliminate illegal market activities such as using undisclosed information for crypto investments. Processes like market price manipulation and fraudulent transactions will be addressed.
The law also requires cryptocurrency service providers to keep more than 80% of user funds in cold storage and to enroll in insurance programs for potential user compensation in case of security breaches.
The new law is part of South Korea's two-part legislation aimed at creating a regulatory framework for the crypto industry. The second part of the regulation, currently under development, focuses on standardizing the issuance of crypto tokens and information disclosure for investors.

#Chiliz announced an important development today. According to the announcement, a new date for the previously postponed hard fork has been announced. The Dragon8 Hard Fork on Chiliz Chain, scheduled for Monday, June 17 at 09:00 Turkish time, brings significant updates to both developers and the wider Chiliz Chain community. Let's look at the details.
What Does the New Hard Fork Bring?
One of the most important improvements for developers at Chiliz Chain is the ability to use the latest version of Solidity, specifically v0.8.25. Developers who were previously limited to Solidity 0.8.19, which went out of date last year, can now take advantage of the new features, opcodes and precompilations offered by the latest Solidity release.

Ripple, a provider of enterprise blockchain solutions for global payments, is taking important steps in its collaboration with the National Bank of Georgia (NBG) on digital financial initiatives. This partnership highlights #Ripple 's role as technological partner in NBG's pilot project on the Digital Lari, Georgia's Central Bank Digital Currency (CBDC).
Cooperation Between Ripple and NBG
Recent talks between Ripple and NBG, attended by Ripple Vice President James Wallis and Alistair Brown of software engineering service provider EPAM Systems, focus on exploring potential applications of Blockchain technology to further digitize Georgia's economy. Antony Welfare shared this development on X, emphasizing that the existing partnership for the pilot implementation of Digital Lari has been strengthened.

#TONCOİN (TON) has made headlines due to significant price increases in recent days. It experienced a notable rise in social dominance and showed a positive trend in open interest. A new daily analysis of Toncoin revealed that the first significant increase occurred on June 2.
Will TON Reach a New ATH?
The chart showed an 8.60% increase, raising its price from $6.3 to approximately $6.8. On June 4, Toncoin experienced another significant increase of 7.48%, pushing its price above $7.3. This new price range became an all-time high, surpassing the previous ATH of approximately $7.2 reached in April.
Popular altcoin Toncoin briefly dipped from this new price range with a decrease of over 1.6% on June 5. However, it has since regained its position. At the time of writing, Toncoin is trading around $7.3 with an increase of over 1.7%. This latest increase could mean that the price can maintain its all-time high (ATH).
Further increases could help establish a new ATH. Additionally, an analysis of Toncoin’s relative strength index (RSI) may indicate a strong upward trend at the current position. RSI is above 67, suggesting it is near the overbought zone.

TON Price Analysis
21milyon.com data analysis showed that Toncoin increased by over 12% in the last seven days. Among the top 20 assets, only Binance (BNB) recorded a higher increase with over 19%. At the time of writing, Toncoin's market value is approximately $17.6 billion, making it the ninth largest asset by market value.
Additionally, data from Santiment showed that Toncoin (TON) experienced significant social dominance. Its social dominance was over 1.3%, indicating that it could be part of about 1% of discussions in the cryptocurrency space. At the beginning of the month, its social dominance was over 2%, but it has decreased in the last few days.

#FLOKI , was one of the standout meme coins in March. Recently, it broke out of an upward formation, providing profits to investors and drawing significant attention. Opinions suggest the trend might continue, potentially reaching new highs in the coming days. However, data indicates bears are entering FLOKI, possibly signaling a trend reversal.
FLOKI Coin Analysis
A statement from World Of Charts, a well-known name in the crypto world, drew attention. The analyst shared a tweet showing the outlook after the upward trend in FLOKI. To clarify, the memecoin broke its upward formation in mid-May.
Before the breakout, the memecoin's price went through a consolidation phase for several weeks. Following this period, FLOKI achieved an 80% profit. This indicated that many FLOKI investors were in profit.
According to data from IntoTheBlock, 99% of investors were "still in the money," suggesting their portfolios were positive. However, data from the last 24 hours indicated a potential reversal. CoinMarketCap data showed the memecoin's price rose only 0.5% in the last 24 hours.
As of the time of writing, FLOKI had a market cap of 2.96 billion dollars and was trading at 0.0003122 dollars.
Will FLOKI Drop?
Data from Santiment showed that despite the recent price correction, weighted sentiment remained high. This clearly indicated that bulls dominated the market. Additionally, FLOKI's social volume also increased.

Looking at most other on-chain data, a different picture emerged for FLOKI. The data suggested a potential trend reversal. For example, the MVRV ratio remained positive. The NVT ratio also saw a noticeable decline.

The decline in the NT metric indicates the asset's value remained low, suggesting a potential price increase in the future. Additionally, the memecoin's network growth increased last week, indicating more new addresses were created to transfer the token.
FLOKI's daily chart showed its MACD reflecting a bullish trend once again. The Bollinger Bands indicated that FLOKI's price was significantly above the 20-day Simple Moving Average (SMA).

The world's leading cryptocurrency #Bitcoin has been experiencing a period of consolidation where its price has remained below $72,000 for the last 100 days. This prolonged phase of stability is often viewed as a period of market pressure. Additionally, when an important resistance level is broken, this can result in a large price movement. According to analyst Jelle, Bitcoin is preparing for a big rise and the next rise may be just around the corner.
Consolidation Phase for Bitcoin

The overall market sentiment improved rapidly as Bitcoin's price hovered above $71,000. Amid this positive environment, ORDI coin has seen a significant price increase, driven by the market recovery. Currently, ORDI's price is facing a significant breakout, gaining momentum and showing signs of a strong uptrend. This breakout rally is characterized by the altcoin breaking above the overall trend line, indicating a sustained upward move.