Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Elon Musk to Ban Apple Devices: Elon Musk, CEO of Tesla and SpaceX, has threatened to ban Apple devices from his companies if Apple integrates OpenAI's ChatGPT into its operating systems, citing it as an "unacceptable security violation."

2. Normie Controversial Video Backlash: Normie, a meme coin on Ethereum's layer-2 network Base, faced significant backlash after releasing a controversial video depicting suicide. Intended to boost the token's value, the video was condemned as insensitive by the crypto community.

3. Travala x Telegram Open Network Integration: Travala has integrated with the Telegram Open Network (TON), allowing users to book travel services using Toncoin (TON).

4. 📈Technical Analysis Masterclass - Are you a beginner at trading and investing in crypto? Look no further, our expert will teach you how to set up and customize multiple moving averages on your trading charts! Watch UseTheBitcoin’s latest Youtube tutorial video “Using Multiple Moving Averages with Custom Settings” or join our Official Discord Channel for more alpha!

5. UwU Lend $20M Crypto Hack: UwU Lend, a DeFi protocol, suffered a hack on June 10, resulting in nearly $20 million in stolen digital assets. The attack was detected by Cyvers and involved the attacker draining assets from UwU Lend's pools and converting them to ETH.

6. 💡Feature of the Day - MOTHER Memecoin Surges: Iggy Azalea's Mother Iggy (MOTHER) memecoin saw a 30% surge after announcing it will be used for purchasing mobile phones and subscription plans in her relaunched telecommunications company.

   
   All this and more in today’s headlines!

📰 News Highlights:

Elon Musk to Ban Apple Devices [Source][Source][Source][Source]

Elon Musk, the billionaire CEO of Tesla and SpaceX, has threatened to ban Apple devices from his companies if Apple integrates OpenAI's ChatGPT into its operating systems. Musk labeled this integration an "unacceptable security violation," expressing his concerns in a June 10 post on X (formerly Twitter).

He suggested that even visitors to his companies would need to store their Apple devices in a Faraday cage upon entry.

Apple's announcement at the 2024 Worldwide Developers Conference revealed the "Apple Intelligence" suite, which includes generative AI features set to roll out later this year.

One feature allows Siri to relay user questions to ChatGPT, with user consent, powered by OpenAI's latest iteration, GPT-4o.

Musk criticized Apple for outsourcing privacy and security, accusing them of compromising user data by relying on a third-party AI.

Normie Controversial Video Backlash [Source][Source][Source]

Normie, a meme coin on Ethereum's layer-2 network Base, issued an apology and removed a controversial video depicting suicide after facing significant backlash.

The video, which aimed to pump the token's value, showed the Normie character committing suicide and being resurrected, causing an uproar on Crypto Twitter. Users condemned the video as insensitive, with some calling for the project's end.

The controversy follows an exploit in May that caused Normie's token value to plummet by 99%.

Since then, the project has been working to regain trust by refunding affected users and relaunching a more secure token. Despite previous positive reception to their promotional content, this particular video crossed a line for many in the community.

Travala x Telegram Open Network Integration [Source][Source]

Travala, a leading crypto-native travel booking platform, has integrated with the Telegram Open Network (TON), allowing users to book travel services using Toncoin (TON).

This new feature enables travelers to use their TON tokens for airline tickets, hotel reservations, and tours in over 230 countries, expanding Travala's already extensive list of 127 payment methods.

Travala CEO Juan Otero expressed excitement about this partnership, emphasizing the company's commitment to advancing cryptocurrency adoption and providing new real-world use cases for TON.

📈Technical Analysis Masterclass:

Using Multiple Moving Averages with Custom Settings

In this tutorial, you'll learn how to set up and customize multiple moving averages (MA) on a trading chart and know the basic trading strategy using these moving averages. We will configure two simple moving averages (SMA) and two exponential moving averages (EMA) with specific colors and periods.

Step 1: Access Your Charting Platform

1. Open your preferred trading/charting platform (e.g., TradingView, MetaTrader, Thinkorswim).

2. Load the chart for the asset you want to analyze.

Step 2: Adding and Customizing Moving Averages

1. Add the First Simple Moving Average (MA1):

   • Locate the "Indicators" section.

   • Search for "Moving Average."

   • Add a Moving Average to your chart.

   • Access the settings for this MA.

   • Set the period to 20.

   • Change the color to green.

   • Save the settings.

2. Add the Second Simple Moving Average (MA2):

   • Repeat the above steps to add another Moving Average.

   • Set the period to 50.

   • Change the color to red.

   • Save the settings.

3. Add the First Exponential Moving Average (EMA1):

   • Locate the "Indicators" section again.

   • Search for "Exponential Moving Average" or "EMA."

   • Add an Exponential Moving Average to your chart.

   • Access the settings for this EMA.

   • Set the period to 100.

   • Change the color to blue.

   • Save the settings.

4. Add the Second Exponential Moving Average (EMA2):

   • Repeat the above steps to add another Exponential Moving Average.

   • Set the period to 200.

   • Change the color to orange.

   • Save the settings.

Step 3: Understanding the Trading Strategy

1. Buying Strategy:

   • Consider buying if the moving averages are in the following order from top to bottom:

     • Green (MA1, 20 period)

     • Red (MA2, 50 period)

     • Blue (EMA1, 100 period)

     • Orange (EMA2, 200 period)

   • This indicates a strong upward trend and potential for continued price increase.

     

2. Selling Strategy:

   • Consider selling if the moving averages are curling up or not in the proper order.

   • This suggests weakening momentum or potential reversal, indicating a higher risk of price decline.

     

By following this tutorial, you can effectively set up and customize multiple moving averages on your trading charts. Watch UseTheBitcoin’s latest Youtube video “Using Multiple Moving Averages with Custom Settings” for a more in-depth look and always use additional indicators and perform thorough analysis before making trading decisions.

UwU Lend $20M Crypto Hack [Source][Source]

UwU Lend, a decentralized finance (DeFi) protocol, was targeted in a significant hack on June 10, resulting in nearly $20 million in stolen digital assets. The exploit, initially detected by on-chain security firm Cyvers, saw the attacker draining assets like WBTC and DAI from UwU Lend’s pools and converting them to ETH.

Cyvers identified the attack's origin, noting that the hacker was funded through the crypto mixing service Tornado Cash and executed the exploit via three transactions within six minutes.

Despite UwU Lend's efforts to address the breach, the attack adds to the growing list of crypto hacks in 2024. The first quarter alone saw $542.7 million in stolen digital assets, a 42% increase from the same period in 2023.

💡 Feature of the Day: 

MOTHER Memecoin Surges [Source][Source][Source]

Iggy Azalea's Mother Iggy (MOTHER) memecoin saw a 30% surge following the announcement that it will be used for purchasing mobile phones and subscription plans in her relaunched telecommunications company.

Azalea's June 9 post on X revealed that MOTHER and Sol tokens would be accepted for these services, sparking significant interest and trading activity.

The MOTHER token's price increase contrasts with the broader trend among memecoins, which have generally experienced declines.

Azalea's mobile company relaunch and the accompanying ad campaign are expected to generate further social media buzz, potentially driving additional upward momentum for MOTHER.

😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com