June Crypto News Recap: A Bad Month for Bitcoin, Bored Apes New Frontier, Binance’s Newest Signing, and More
June has been a testing month for everyone involved in the crypto space. Here is our monthly round-up of what is happening in cryptocurrency.
1. Bitcoin Records Greatest Loss Since 2011
Bitcoin continued to tumble in value, ending June 2022 with an approximate value of $19,000 for 1 BTC. Over the month, Bitcoin depreciated nearly 40%, making it the worst June of record for Bitcoin, surpassing the brutality of bear markets in 2014, 2018, and 2020, plus is the steepest decline in value the digital asset has faced since September 2011. The last time Bitcoin faced a 40% drop-off in value during 2011, 1 BTC traded at only $8.
2. Meta to Test NFTs On Instagram Stories
Mark Zuckerberg has announced that Meta will begin testing non-fungible tokens (NFTs) via Instagram Stories with its augmented reality platform Spark AR. Meta also said that this feature would be brought to Facebook later.
3. Bored Apes NFT Holders to Rent Out Their Apes
Owners of the hugely popular NFT brand, Bored Apes Yacht Club (BAYC), will now be able to rent out their Apes assets to different brands. Launched by Mouse Belt Labs, Boredjobs is a platform allowing holders of BAYC NFTs to list their Apes and utilise the IP rights of the NFTs they purchased. Within 24 hours of the launch, more than 200 BAYC owners have signed up on the platform.
4. Millennials Are Enthusiastic About Crypto
A new report published by Alto, an independent research firm, has shed some light on the investment preferences of millennials. The “How Millennials See Their Financial Future” research reports that 39% of respondents stated they have invested in cryptocurrencies. Respondents currently holding crypto are also likely to add them into their retirement portfolios.
5. Ronaldo Signs Exclusive Partnership with Binance
The Portuguese football player has partnered with the crypto exchange, Binance, to produce a range of NFTs, creating a project that aims to stimulate interest in Web3 technologies amongst football fans. The multi-year deal will see Cristiano Ronaldo and Binance release the initial batch of NFTs later in 2022.
6. Hodlnaut Launches BNB Chain for USDC
Despite the widespread regression in the crypto market these few months, Hodlnaut announced its support of the BNB Chain (BEP-20) for USDC. This new addition allows users to enjoy cheaper and faster blockchain transactions, showing Hodlnaut’s commitment to its customer-focused ethos.
If you want to earn an additional yield on your crypto assets, do remember to sign up for a Hodlnaut Interest Account. With weekly payouts, Hodlnaut users can earn up to 7.25% APY on seven supported assets.
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