Crypto Ping Pong. Drops and Layoffs

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BTC is now trading around $21,000, ETH is trading above $1,200

💪 Bitcoin dominance: 43,42%

📉 Total Cryptocurrency Market Cap: $0,930 tr

😲 Fear and greed index: 12 (Extreme Fear)

🚀 Gainers(Top-100)

DogeCoin (DOGE) +12.87%

Stacks (STX) +12.28%

TRON (TRX) +4.79%

😭 Losers(Top-100)

Stepn (GMT) -8.96%

THORChain (RUNE) -8.41%

1inch Network (1INCH) -7.87%

SAND Gains Almost 20% in Wake of Tech Giants' Metaverse Announcement

The Sandbox's SAND token, just days after tech companies including Meta and Microsoft 📢announced the formation of something called the Metaverse Standards Forum, is 📈up almost 20%.

SAND, over the last 24 hours, had 📈gained 19% to $1.31, according to data compiled by CoinMarketCap. Similarly, over that same span, Decentraland's MANA token had 📈gained almost 9% to $1.02.

Snoop Dogg and Eminem Become Bored Apes in New Music Video

NFT-loving 🎤rap legends Snoop Dogg and Eminem have today 🚀released a music 📷video featuring animated versions of their Bored Ape Yacht Club (BAYC) avatars.

The 🎵song debuted at the end of this year’s ApeFest, an annual event in Manhattan, New York, for BAYC and Mutant Ape Yacht Club (MAYC) holders.

Axie Infinity Developer Sky Mavis to Reimburse Victims of Ronin Bridge Hack

Sky Mavis, the developer behind ❗popular play-to-earn game Axie Infinity, 📢said it will start to reimburse the victims of the $625 million Ronin bridge hack on June 28.

On March, hackers were able to siphon 173,600 ether (ETH) and $25.5 million in USDC out of the Ronin bridge after exploiting a validator node vulnerability. Due to the dwindling price of ether since the hack, around $216.5 million is expected to be returned to users.

FTX in Talks to Acquire Part of BlockFi: Report

FTX is in 🗣️talks to acquire a stake in beleaguered crypto lender BlockFi, The Wall Street Journal reported Friday.

The potential tie-up would quickly deepen the financial 🤝relationship established when crypto 💱exchange FTX extended a $250 million emergency line of credit to BlockFi earlier this week. BlockFi ❌does not 📢comment on market rumors, a BlockFi spokesperson told CoinDesk when asked about the report.

Bitcoin's Energy Consumption Drops By A Quarter Following Crypto Crash

The Bitcoin network's power consumption has 📉fallen to 11 GW as of yesterday, 📉down 27% from 15 GW in April, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI).

The index, which estimates the amount of ⚡power used by Bitcoin miners, is 🤜maintained by the Cambridge Centre for Alternative Finance (CCAF). The CCAF estimates prices by determining a hypothetical maximum and minimum demand for a given day and produces a guess at actual consumption.

Peter Thiel-Backed Bitcoin Trading Platform Bitpanda Cuts Staff

As crypto winter sets in, Web3 companies are finding themselves in the difficult position of ✂️cutting staff. During a company call earlier today, Vienna, Austria-based Bitpanda 📢announced that it would be reducing its headcount from 1,000 employees to 730.

“We are committed to Bitpanda’s mission, therefore we need to take decisive actions now,” the company said in a blog post. “The implications hurt: we need to let part of our team go and scale down to a target organizational size of about 730 people.”

Celsius Enlists More Advisers to Help With Potential Bankruptcy: Report

Cryptocurrency lending company Celsius may be on the brink of bankruptcy, preparing for an upcoming filing by hiring more advisers, according to a 📢report today from the Wall Street Journal, citing ❗unnamed sources.

Just 12 days ago, the company abruptly ❄️froze its clients' accounts, suspending all withdrawals, swaps, and transfers on its platform in an apparent liquidity crisis as the crypto market 📉crashed.

Conclusion: We will continue to observe a trend towarddds a reduction in personnel in the field of crypto. More and more celebrities are starting to be associated with the crypto industry.

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