Hello Crypto Enthusiasts!

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

1. Metallica Exploiters Promote $METAL: Metallica's official X account was hacked, promoting a Solana token called METAL falsely claiming partnerships with Ticketmaster and MoonPay.

2. Cathie Wood Endorses Trump: ARK Invest CEO Cathie Wood endorsed Donald Trump for the 2024 U.S. presidential election, citing his potential to foster innovation and crypto-friendly regulation. Wood's endorsement aligns with other crypto advocates like the Winklevoss twins.

3. 📈Technical Analysis Masterclass - The cryptocurrency market has been buzzing with activity, and Stacks (STX) is no exception. Recently, Stacks has shown a significant uptick, rising approximately 13.5% alongside other popular meme coins. Watch UseTheBitcoin’s latest Youtube video “Stacks Coin is Looking Good: A Detailed Analysis” for a deeper dive or join our Official Discord Channel for more Alpha!

4. Blast Airdrop to Launch Tomorrow: The Blast team announced an airdrop distributing 17% of its token supply to early users on June 26. The airdrop will be claimable at 10 am ET, with some tokens vesting over six months.

5. AssangeDAO Spent $37M to Rescue Assange: Silke Noa from AssangeDAO called for transparency from the Wau Holland Foundation regarding the $37 million spent on Julian Assange's legal defense.

6. 💡Feature of the Day - Strike Enters UK: Bitcoin payments app Strike expanded to the U.K., allowing users to buy, sell, and withdraw funds in Bitcoin and sterling. This move follows its launch in Europe and Africa, marking a significant step in its global expansion.

   
   All this and more in today’s headlines!

📰 News Highlights:

Metallica Exploiters Promote $METAL [Source][Source][Source]

The official X account for Metallica appears to have been hacked, with exploiters promoting a Solana token dubbed METAL. Announced in a June 26 post, the token claimed to be in partnership with Ticketmaster, although Ticketmaster has not confirmed this.

Posts also falsely suggested involvement from fintech firm MoonPay, which was dismissed by MoonPay's president, Keith Grossman. The token, launched on the Solana-based platform pump.fun, was promoted with promises of exclusive items like concert tickets and custom gaming consoles.

The initial post generated significant interest, briefly pushing the METAL token's value to over $3 million. However, the value plummeted by more than 77% shortly after, settling at a market capitalization of $663,000.

The pinned promotion on Metallica's X account links to the band's official website, which contains no information about the token, indicating the hack.

Cathie Wood Endorsed Trump [Source][Source]

ARK Invest CEO Cathie Wood has endorsed Donald Trump for the 2024 U.S. presidential election, highlighting his potential to foster innovation and technological advancement through crypto-friendly regulation.

Wood believes Trump's economic policies, which focus on reducing regulations and taxes, are conducive to long-term economic growth and innovation. Her endorsement aligns with views from other prominent figures in the crypto community, including Gemini co-founders Cameron and Tyler Winklevoss, who have each pledged $1 million in Bitcoin to Trump's campaign.

Trump's acceptance of cryptocurrency donations and his alignment with crypto-friendly policies have positioned him as a preferred candidate for those advocating for regulatory clarity and support for blockchain technology.

📈Technical Analysis Masterclass

Stacks Coin is Looking Good: A Detailed Analysis

Stacks is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin. The platform operates on top of Bitcoin, enhancing its capabilities while leveraging its security and aims to make Bitcoin more versatile and useful in decentralized finance (DeFi). Here's a closer look at what's driving this movement and what the future might hold for STX.

Current Market Performance

• Recent Pump: Stacks bounced at the $1.61 level but remains in a broader bearish pattern.

• Trading Below Key EMAs: Still below the 20, 50, 100, and 200 exponential moving averages (EMAs), indicating caution for large investments.

• Overall Trend: Despite short-term gains, the trend remains downward.

Short-Term Trading Opportunity

• Bullish Divergence: Observed on the 1-day timeframe, indicating a potential shift in momentum from bearish to bullish.

• Patience Required: Such shifts take time, and it's essential to wait for the full effect to play out.

• Profit Targets: Consider setting take profit targets around $1.85 to $1.95.

Long-Term Investment Considerations

• Wait for Breakout: Advisable to wait for a breakout from the current downtrend for a more secure entry point.

• Consolidation Above Trendline: Look for Stacks consolidating above its bearish trendline to reduce risk and increase potential gains.

As always, ensure you do thorough research and consider consulting with financial experts before making significant investment decisions. The cryptocurrency market is highly volatile, and informed decisions are vital to navigating this dynamic space successfully.

Blast Airdrop Launches Tomorrow [Source][Source]

The Blast team has announced an airdrop set to commence on June 26, distributing 17% of the total token supply to early users.

The Ethereum layer-2 network will allocate 7% of the tokens to users who bridged either Ether or US Dollar Blast (USDB) to the network, another 7% to those who contributed to the success of decentralized applications on Blast, and 3% to the Blur Foundation for future airdrops.

The airdrop will be claimable at 10 am ET, with top-ranked wallets vesting part of their airdrop over six months. The Blur Foundation plans to distribute its share of the tokens to traders and holders in upcoming seasons.

Since its launch in November, the Blast network has grown to become the fourth largest Ethereum layer-2 network in terms of total value locked (TVL), now exceeding $2.9 billion.

Despite some complaints from users about the vesting requirements, the community is generally excited about the airdrop.

AssangeDAO Spent $37M to Rescue Assange [Source]

Silke Noa, a member of AssangeDAO, has called for detailed accounting from the Wau Holland Foundation regarding the $37 million spent on Julian Assange's legal defense.

Noa stated that 11,000 ETH out of the 16,593 ETH allocated by AssangeDAO has been used for Assange's legal efforts and campaigning, managed through Wau Holland Foundation's multisig wallet.

AssangeDAO was formed by Assange's friends, family, and Web3 community members to support his defense using decentralized fundraising techniques.

💡 Feature of the Day: 

Strike Enters UK [Source][Source]

Bitcoin payments app Strike has expanded its services to the U.K., allowing users to buy, sell, and withdraw funds in Bitcoin and sterling.

This move follows the app's launch in Europe and Africa earlier this year, marking another step in its aggressive global expansion.

The U.K. rollout is significant due to the country's large economy and potential for Bitcoin integration.

Strike's operations in the U.K. will be managed cross-border from its European base, ensuring compliance with local regulatory requirements through FCA-registered firm Engelbert.

😂 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