DAILY MARKET OVERVIEW
Bitcoin Accumulation Does Not End 💪 

 Happy Friday, Crypto Enthusiasts! 🌟 There's been a whirlwind of action in the crypto world today. Let's dive right in and explore. 🕶️ 

Massive news, Kraken exchange has experienced it’s largest outflow with a withdrawal of $1.6b billion in Bitcoin.

According to deeper research the timing of the withdrawal matches with Bitcoin’s price jump to $69,500 meaning the funds were used to buy Bitcoin and then withdrawn for custody in a cold wallet for long term.

It is still possible that this was an internal Kraken transfer but due to the price jump in BTC’s price it could very well be a massive institution,

Coinbase Smart Wallet Impact

Coinbase is about to release a new kind of wallet that makes it super easy for people to use Ethereum. This wallet is made for users who aren't tech wizards, so they can easily get into the world of Ethereum without feeling lost.

Right now, using wallets can be really tricky for many people because they're too complicated. But Coinbase wants to change that by making a wallet that's simple and straightforward.

This new wallet could make trading cryptocurrencies on the Ethereum network much easier and could even boost the value of certain coins due to an increase in liquidity. So keep your eyes peeled for Base Chain projects. 👀 

The overall market mood is positive, and with the launch of the Coinbase smart wallet, we might witness a significant surge in on-chain trading, particularly on chains like Base.

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TWITTER SENTIMENT
Popular on Twitter Today🐦️ 

ZKSYNC: People are upset because Matter Labs wants to trademark 'ZK', a key term in zero-knowledge tech. They think it goes against blockchain's open-source nature and could slow down zero-knowledge tech progress.

KARATE: Excitement surrounds the KarateCombat event by KrakenFX, with guests like Georges St. Pierre and Joe Rogan. Fans discuss fights and the event's blend of cryptocurrency, martial arts, and gaming.

TRUMP: Discussion on crypto Twitter focuses on how Donald Trump's guilty verdict affects the TRUMP token's market. Some see it as a buying opportunity, while others worry about the drop. People also compare TRUMP to other meme and political tokens, speculating on its future.

NEWS OVERVIEW
The Latest Crypto Headlines 📰 

Terra (LUNA) Prices Surge Following Do Kwon's SEC Settlement
Terra's cryptocurrency LUNA and its sister token LUNC have experienced a significant rise after founder Do Kwon settled charges with the SEC, potentially stabilizing the project's future.

Trump Meme Coins Plummet Following Guilty Verdict on Felony Charges
Cryptocurrencies associated with Donald Trump have seen a drastic decrease in value after he was found guilty on multiple felony charges, impacting investor sentiment.

TON's Market Cap Takes Hit After Correcting Inflated Supply Data
The Open Network (TON) has suffered a severe drop in market capitalization following the correction of previously inflated supply data, causing concern among investors.

Trump's Election Win Odds Drop Sharply on Polymarket After Verdict
Betting odds for Donald Trump's potential election win have sharply declined on prediction market Polymarket following his guilty verdict, reflecting decreased public confidence.

YOUTUBE INFLUENCER SUMMARY 📷️ 

Lark Davis - China Money Printing = Bitcoin Explosion (31.05.2024 Summary)

🖨️ 🇨🇳 China's Money Printer Goes Brrr: Why It Could Pump Bitcoin to the Moon

According Lark, China is about to unleash a massive $140 billion stimulus package. And this money printing extravaganza could send shockwaves through the crypto markets, potentially causing a Bitcoin explosion!

👓️ Here's how Lark breaks it down in simple terms: China is issuing 1 trillion yuan worth of long-term bonds to raise funds and stimulate its struggling economy. When a government issues bonds, it's essentially borrowing money from investors. This newly borrowed cash gets injected into the financial system.

🦝 Now, this is where things get interesting for Bitcoin. As Lark explains, "Any money that gets spent eventually finds its way into the financial system." With more money sloshing around, there's increased competition among lenders, potentially driving down interest rates globally. Cheaper borrowing means more economic activity, investment, and consumer spending.

❗️ But wait, there's more! Lark points out that China is also selling off U.S. debt, putting pressure on the U.S. to lower rates and flood the system with even more money. As Lark colorfully puts it, "Everyone's printing baby, print it all!"

🧠 And where does all this newly printed money go? Lark believes a significant portion could find its way into Bitcoin, especially if a Bitcoin ETF gets listed on the Shanghai and Shenzhen stock exchanges, allowing mainland Chinese investors to get exposure to crypto.

In Lark's words, "A tsunami of Asian money is coming, and things will get crazier than we have even possibly imagined.

Ivan On Tech - BITCOIN: TRUMP GOING TO JAIL WTFFF (31.05.2024 Summary)

🪙 BITCOIN BONANZA: TRUMP'S TROUBLE AND BIDEN'S BLOCKCHAIN BREAKTHROUGH!

What a wild ride the crypto world has been on lately, according to our buddy Ivan! He says the markets have been pretty sideways for Bitcoin recently, but the real story is the drama unfolding in the political sphere.

🧑‍⚖️ Trump, the former president, has been convicted as a felon - and some folks are celebrating while others call it a "banana republic" situation. The plot thickens because in July, there's going to be a sentencing hearing to decide if the guy actually goes to jail or not. Crazy stuff!

🟢 But wait, there's more! Out of nowhere, President Biden is suddenly all about crypto now. Ivan says just months ago, Biden was bashing crypto investors, claiming they were taking money from single moms. But now that Trump has embraced crypto and gained a ton of new supporters (around 50 million Americans are crypto holders!), Biden is trying to get in on the action too.

🇺🇸 Ivan thinks the Democrats need to get on board with crypto to have any future, since it's mainly young people invested in this new technology. So Biden is trying to reverse course and make nice with the crypto community that he was calling the "enemy of the state" not long ago. Wild flip-flop!

🤔 According to Ivan, while Trump at least has his own NFT collection and millions in a crypto wallet, it's unclear if Biden even really understands what crypto is. But the politics are just getting started in this space.

🐸 On the markets front, Ivan says the altcoin scene has been a bit depressed lately, except for one shining star: Pepe! The Pepe coin is setting new all-time highs with massive trading volume. So much so that Ivan ponders whether we could see things like a Pepe ETF in the future, since the volume for joke coins is outpacing some major projects.

💹 He compares Pepe's fundamentals to XRP and argues that despite having no real use case, Pepe's economics and trading activity could justify an ETF product. And with meme coins making up 20-30% of the overall altcoin market cap, this space is too big for Wall Street to ignore now.

So there you have it - Trump's legal drama, Biden's crypto flip-flop, and the rising wave of financialization and politics crashing into the blockchain space. It's a wild world, but Ivan is here to guide us through all the chaos! Let's see what happens next in this theatrical bitcoin saga.

EXPLORING NEW PROJECTS

Jellyverse: Pioneering the Future of DeFi 🪼

Could Jellyverse cause the next boom in DEFI?

Jellyverse is a complete ecosystem currently in testnet, built on the SEI network, and governed by its community through the JLY token.

It aims to lead the next generation of DeFi apps with a vision to create a sustainable, yield-driven economy that includes real-world assets.

The ecosystem currently consists of:

• JellySwap DEX: An automated market maker (AMM).

• JellyStake: Enables users to stake their JLY tokens, participate in governance, and earn a share of protocol revenue.

• jAssets: A community project in development that creates synthetic assets designed to mirror the prices of real-world assets using blockchain technology.

The JLY token sits at the core of the project and is used for Governance, Revenue Share Collateral for jAssets, Liquidity Mining & Staking

The total supply of JLY tokens is 800 million, with 54.7% allocated for community incentive rewards and 11.25% designated for airdrops to Jelly platform users.

Currently, users can participate in ongoing quests in Jellyverse to earn free JLY tokens. Quests can be found here

In summary, Jellyverse has the potential to be a game-changer in DeFi. Want to be part of the excitement? Join the Jellyverse quests and snag some free JLY tokens!

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