{"id":63953,"date":"2022-07-05T15:56:36","date_gmt":"2022-07-05T12:56:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63953"},"modified":"2025-09-06T11:47:19","modified_gmt":"2025-09-06T08:47:19","slug":"june-2022-in-figures-bitcoin-below-20000-steth-discount-and-collapse-of-well-known-crypto-firms","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/june-2022-in-figures-bitcoin-below-20000-steth-discount-and-collapse-of-well-known-crypto-firms\/","title":{"rendered":"June 2022 in figures: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms"},"content":{"rendered":"<div class=\"wp-block-monthly-reviews-top-blk review_top_blk\">\n<h2 class=\"wp-block-heading\">Key takeaways<\/h2>\n<ul class=\"wp-block-list\">\n<li>Leading cryptocurrencies closed the worst quarter since 2011. Bitcoin fell below $20,000.<\/li>\n<li>Trading volume on centralized exchanges dropped to December 2020 levels.<\/li>\n<li>Some on-chain indicators are signaling a buying opportunity for Bitcoin.<\/li>\n<li>Bitcoin and Ethereum miner revenues fell by 26% and 52%, respectively.<\/li>\n<li>Stablecoin issuers reduced issuance. An exception was Circle\u2019s USDC.<\/li>\n<li>The NFT segment shows signs of a bursting bubble.<\/li>\n<li>\u201cFear and Greed Index\u201d fell to August 2019 levels.<\/li>\n<li>Total value locked in the DeFi segment fell by 36%.<\/li>\n<li>Avalanche ecosystem rose to third place by TVL.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Performance of leading assets<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"457\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-60-1024x457.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177868\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-60-1024x457.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-60-300x134.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-60-768x343.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-60-1536x685.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-60.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"457\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-52-1024x457.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177869\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-52-1024x457.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-52-300x134.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-52-768x343.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-52-1536x685.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-52.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>June 2022 and the second quarter overall were marked by the largest correction since 2011. Bitcoin started the month near $32,000, hit a low of $17,622 (June 18 on Binance), and closed the month below $20,000.<\/li>\n<li>The flagship asset pulled the entire crypto market down \u2014 at one point total market capitalization dipped below $800 billion.<\/li>\n<li>Ethereum breached the key psychological support level of $1,000. On June 18 the price reached $881.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"611\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Po-kvartalam-1024x611.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177871\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Po-kvartalam-1024w-611.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Po-kvartalam-300x179.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Po-kvartalam-768x458.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Po-kvartalam-1536x916.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Po-kvartalam-2048x1221.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Worst quarters in Bitcoin history. Data: <a href=\"https:\/\/www.coinglass.com\/today\">Coinglass<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"410\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/po-mesyatsam-1024x410.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177872\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/po-mesyatsam-1024x410.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/po-mesyatsam-300x120.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/po-mesyatsam-768x308.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/po-mesyatsam.png 1381w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin monthly performance. Data: <a href=\"https:\/\/www.coinglass.com\/today\">Coinglass<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Bitcoin fell 37.3% for the month. For the quarter (April\u2013June) it was down 56%.<\/li>\n<li>Ethereum\u2019s price in June dropped 44.8%, and for the quarter it fell 67.3%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"463\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/gainers-24-1024x463.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177875\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/gainers-24-1024x463.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-24-300x136.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-24-768x348.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-24-1536x695.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-24.png 1615w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Gainers &#038; Losers of the month. Data: <a href=\"https:\/\/messari.io\/screener\/monthly-gainers-(copy)-E99DF2E8\">Messari<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"465\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/losers-23-1024x465.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177876\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/losers-23-1024x465.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-23-300x136.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-23-768x349.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-23-1536x698.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-23.png 1614w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<p>Narrative: The negative momentum caused by the Terra and UST collapse was exacerbated by problems at major players \u2014 Celsius, BlockFi and Three Arrows Capital (3AC). As Bitcoin price fell, these entities faced liquidity crises and appeared close to bankruptcy. Citing \u201cextreme market conditions,\u201d Celsius halted user withdrawals. The sticking point was large DeFi collateral loans and an inability to repay obligations.<\/p>\n<ul class=\"wp-block-list\">\n<li>Among mid-cap assets, Terra Classic (LUNC) and TerraClassicUSD (USTC), Stratis (STRAT), Chia (XCH), Trust Wallet Token (TWT) and Unus Sed Leo (LEO) from Bitfinex posted positive moves.<\/li>\n<li>The worst performers included Voyager (VGX), which lent the 3AC fund $655 million in BTC and USDC, and hacker-touched Harmony (ONE) and Convex Finance (CVX). The Lido protocol\u2019s token LDO also declined, after the issuer lost its ETH peg on stETH.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Crypto-related company stocks<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>MicroStrategy (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MSTR\/\">MSTR<\/a>): <br \/><span style=\"color: #FA0021\">-37%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Coinbase (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-COIN\/\">COIN<\/a>): <br \/><span style=\"color: #FA0021\">-39%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Bakkt (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NYSE-BKKT\/\">BKKT<\/a>): <br \/><span style=\"color: #FA0021\">-27%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Galaxy Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/TSX-GLXY\/\">GLXY<\/a>): <br \/><span style=\"color: #FA0021\">-42%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Voyager Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/OTC-VYGVF\/\">VYGVF<\/a>): <br \/><span style=\"color: #FA0021\">-83.8%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\">\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Stock performance of mining companies<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Canaan (CAN): <br \/><span style=\"color: #FA0021\">-14%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Ebang International (EBON): <br \/><span style=\"color: #FA0021\">-50%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Riot Blockchain (RIOT): <br \/><span style=\"color: #FA0021\">-42%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Hut 8 (HUT): <br \/><span style=\"color: #FA0021\">-48%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Marathon Digital (MARA): <br \/><span style=\"color: #FA0021\">-48%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>JPMorgan heads note that liquidity-strapped mining companies could continue to exert downward pressure on Bitcoin in the third quarter if mining profitability does not improve. Public miners today account for about 20% of the network\u2019s hash rate.<\/p>\n<p>Bloomberg reported that some mining companies faced difficulties servicing loans backed by Bitcoin-mining equipment. The situation stems from weaker market conditions and the devaluation of ASIC devices. Loans worth about $4 billion were at risk of default.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">Macro backdrop<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"974\" height=\"480\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/landing.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177884\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/landing.png 974w, https:\/\/u1f987.com\/wp-content\/uploads\/landing-300x148.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/landing-768x378.png 768w\" sizes=\"auto, (max-width: 974px) 100vw, 974px\" \/><figcaption class=\"wp-element-caption\">Probability of a \u201csoft landing\u201d or a hard landing for the US economy, according to the New York Fed model. Data: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-17\/new-york-fed-model-shows-chance-of-soft-landing-at-just-10\"> Federal Reserve Bank of New York, Bloomberg<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Following June\u2019s meeting, the <span data-descr=\"US Federal Reserve\" class=\"old_tooltip\">Fed<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/fed-raises-key-rate-bitcoin-and-ethereum-rally\">raised the policy rate<\/a> by 75 basis points to 1.5%\u20131.75%. Fed Chair Jerome Powell warned that July could see a move of 50\u201375 basis points. Futures <a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">assess<\/a> the probability of the first scenario at 16.8%, and the second at 83.2%.<\/li>\n<li>The central bank is ready to fight high inflation by sharply cooling the economy. June macro data contained <a href=\"https:\/\/www.marketwatch.com\/story\/consumer-sentiment-plunges-to-record-low-in-june-umich-survey-11654870023\">warning signals<\/a>, but did not decisively point to a recession. That prospect could justify further Fed tightening in July and leave open the possibility of a 50bp rate hike in September.<\/li>\n<li>The scenario of a transition to negative GDP growth is increasingly plausible. The New York Fed model raised the probability of a <span data-descr=\"a 1% year-on-year GDP decline over the next ten quarters\" class=\"old_tooltip\">\u2018hard landing\u2019<\/span> to 80%. In Europe, economists foresee a recession by year-end.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"974\" height=\"496\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Correlation-5.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177886\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Correlation-5.png 974w, https:\/\/u1f987.com\/wp-content\/uploads\/Correlation-5-300x153.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Correlation-5-768x391.png 768w\" sizes=\"auto, (max-width: 974px) 100vw, 974px\" \/><figcaption class=\"wp-element-caption\">Bitcoin correlation with traditional assets. Data: <a href=\"https:\/\/blog.kaiko.com\/markets-recover-despite-ongoing-liquidity-issues-3cc47a590e62\">Kaiko<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Historically, bear markets in US equities have coincided with economic downturns. A rebound could be aided by the Fed pivoting to a looser policy. However futures <a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">allow<\/a> such a scenario no earlier than July 2023.<\/li>\n<li>Bitcoin\u2019s positive correlation with Nasdaq-100 and negative correlation with the dollar have receded from extremes but still point to a close price interdependence of assets. By the end of Q2, the tech index <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-30\/nasdaq-heads-for-historic-wipeout-as-economy-cools-tech-watch\">had fallen by more than 20%<\/a>, leaving room for a technical rebound. It could coincide with the start of a new <a href=\"https:\/\/www.earningswhispers.com\/calendar?sb=c&#038;d=14&#038;t=all\">quarterly earnings season<\/a>.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Market mood, correlations and volatility<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"500\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-1024x500.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177890\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-1024x500.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-300x146.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-768x375.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-1536x750.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-2048x1000.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Fear &#038; Greed Index. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"204\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-1024x204.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177891\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-1024x204.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-300x60.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-768x153.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3.png 1376w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>During the month, the Fear &#038; Greed Index remained at extremely low levels. On June 18, the indicator dropped to 6 \u2014 the first time since August 2019.<\/li>\n<li>Investor sentiment continues to be influenced by negative news and rumors about various crypto-industry participants. Some experts, for example <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-will-help-good-crypto-projects-weather-the-crisis-2\">Changpeng Zhao<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-sets-timeline-for-end-of-the-crypto-market-recession\">Mike Novogratz<\/a>, noted that bankrupting weak players and selling off collapsed assets would take time.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"529\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-1024x529.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177893\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-1024x529.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-300x155.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-768x397.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6.png 1246w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">90-day asset correlation indicators. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In June, Bitcoin\u2019s correlation with the US equity market firmed. The smoothed 90-day moving average for the S&#038;P 500 was 0.6 and 0.54 for the Dow Jones.<\/li>\n<li>The positive correlation with gold remains, but the relationship is weak (0.06).<\/li>\n<li>By month-end, correlations among the two biggest digital assets had strengthened, signaling a strong market trend. <\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Market sentiment, correlations and volatility<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"500\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-7-1024x500.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177890\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indexa-straha-i-zhadnosti-7-1024x500.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indexa-straha-i-zhadnosti-7-300x146.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indexa-straha-i-zhadnosti-7-768x375.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indexa-straha-i-zhadnosti-7-1536x750.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indexa-straha-i-zhadnosti-7-2048x1000.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Fear &#038; Greed Index. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"204\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-1024x204.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177891\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-1024x204.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-300x60.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3-768x153.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-3.png 1376w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Throughout the month, the Fear &#038; Greed Index stayed at unusually low levels. On June 18, the indicator dropped to 6 \u2014 the first time since August 2019.<\/li>\n<li>Investor sentiment remains influenced by negative news and rumours about various players in the crypto industry. Some experts, for example <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-will-help-good-crypto-projects-weather-the-crisis-2\">Changpeng Zhao<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-sets-timeline-for-end-of-the-crypto-market-recession\">Mike Novogratz<\/a>, noted that bankruptcy of weak players and liquidation of collapsed assets would take time.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"529\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-1024x529.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177893\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-1024x529.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-300x155.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6-768x397.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-6.png 1246w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">90-day asset correlation indicators. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In June, Bitcoin\u2019s correlation with the US stock market strengthened. The smoothed 90-day moving average for the S&amp;P 500 stood at 0.6 and 0.54 for the Dow Jones.<\/li>\n<li>The statistical relation between Bitcoin and gold shifted to positive, but remained weak (0.06).<\/li>\n<li>By month-end, the correlation between the two largest digital assets strengthened, indicating a strong market trend.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">On-chain data<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"689\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/dinamika-potoka-bitkoinov-ot-majnerov-na-adresa-birzh-1024x689.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177897\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/dinamika-potoka-bitkoinov-ot-majnerov-na-adresa-birzh-1024x689.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/dinamika-potoka-bitkoinov-ot-majnerov-na-adresa-birzh-300x202.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/dinamika-potoka-bitkoinov-ot-majnerov-na-adresa-birzh-768x516.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/dinamika-potoka-bitkoinov-ot-majnerov-na-adresa-birzh-1536x1033.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/dinamika-potoka-bitkoinov-ot-majnerov-na-adresa-birzh.png 1850w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin miner flows to exchange addresses. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Difficulty-Ribbon-Compression-1024x576.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177898\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Difficulty-Ribbon-Compression-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Difficulty-Ribbon-Compression-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Difficulty-Ribbon-Compression-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Difficulty-Ribbon-Compression-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Difficulty-Ribbon-Compression.png 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Difficulty Ribbon Compression indicator dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=indicators.DifficultyRibbonCompression&#038;s=1611291444&#038;u=1656547200&#038;zoom=\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Against the backdrop of a Bitcoin price drop, a significant inflow of cryptocurrency to centralized exchanges was registered. On June 18, miners sent to exchange addresses BTC worth more than $2 billion.<\/li>\n<li>Such dynamics indicate mass selling on the eve of and during the collapse, driven largely by lower mining profitability.<\/li>\n<li>The Difficulty Ribbon Compression indicator, based on the \u201cRibbon\u201d, has signalled the onset of a favorable period to buy Bitcoin since late March. The \u201cgreen zone\u201d indicates compression of the Ribbon and implies a capitulation of some miners.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"491\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Indikator-Hash-Ribbons-1024x491.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177900\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Indikator-Hash-Ribbons-1024x491.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Indikator-Hash-Ribbons-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Indikator-Hash-Ribbons-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Indikator-Hash-Ribbons-.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hash Ribbons indicator dynamics. Data: <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/hash-ribbons\/\">LookIntoBitcoin<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"520\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-SHarpa-1-1024x520.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177895\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-SHarpa-1-1024x520.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-SHarpa-1-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-SHarpa-1-768x390.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-SHarpa-1-1536x779.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-SHarpa-1.png 2030w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">30-day Sharpe ratio. Data: <a href=\"https:\/\/app.intotheblock.com\/insights\/markets\/indices\/western\">IntoTheBlock<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June the average 30-day on-chain volatility, the 30-day moving average of the Bitcoin price, stood at about 3.46%. This roughly matches the April level (3.58%).<\/li>\n<li>The 30-day average Sharpe ratio (excluding risk-free rate) for Bitcoin indicates that, when risk-adjusted, Bitcoin was among the worst-performing assets in June.<\/li>\n<li>For all instruments shown, the Sharpe ratio turned negative, signalling a global recession.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3 class=\"wp-block-heading\"><strong>Ethereum<\/strong><\/h3>\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"507\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-6-1024x507.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177906\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-6-1024x507.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-6-300x149.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-6-768x381.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-6-1536x761.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-6-2048x1015.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of daily burnt ETH. Data: <a href=\"https:\/\/etherscan.io\/chart\/dailyethburnt\">Etherscan<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"539\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-6-1024x539.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177907\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-6-1024x539.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-6-300x158.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-6-768x404.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-6-1536x809.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-6-2048x1079.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum balances on centralized exchanges and share of ETH supply deployed in smart contracts. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=&#038;m=distribution.BalanceExchanges&#038;s=1633167919&#038;u=1635759919&#038;zoom=30\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Since the activation of EIP-1559 in August 2021, the network has burned more than 2.5 million ETH. Of these, over 120,000 were burned in June 2022.<\/li>\n<li>Throughout the month, there was a net inflow of ETH to wallets on centralized exchanges, driven by macroeconomic crisis and the depegging of stETH from the original ETH.<\/li>\n<li>The share of ETH locked in smart contracts in DeFi slightly declined. At month-end, the figure was around 23%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"606\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-4-1024x606.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177909\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-4-1024x606.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-4-300x178.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-4-768x455.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-4-1536x909.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-4-2048x1212.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of ETH on deposit contract and number of validators. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=eth2.StakingTotalVolumeSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"617\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-5-1024x617.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177910\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-5-1024x617.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-5-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-5-768x463.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-5-1536x926.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-5-2048x1234.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of Ethereum 2.0 addresses with balance \u2265 32 ETH. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=addresses.Min32Count\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>At the end of June, the number of ETH on the Ethereum 2.0 deposit contract surpassed 12.98 million. The month saw a 1.9% increase; May had risen 5.4%.<\/li>\n<li>The number of validators on the Beacon Chain exceeded 405,000. In the month, the count of participants interacting with the second Ethereum iteration rose by 1.9%.<\/li>\n<li>The number of addresses holding \u2265 32 ETH grew through the month. By June 30 the figure reached 114,308.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\"><strong>Lightning Network<\/strong><\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"606\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-7-1024x606.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177912\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-7-1024x606.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-7-300x178.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-7-768x455.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-7-1536x909.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-7-2048x1212.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of Lightning Network capacity. Data: <a href=\"https:\/\/bitcoinvisuals.com\/ln-capacity\">Bitcoin Visuals<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"549\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-5-1024x549.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177913\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-5-1024x549.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-5-300x161.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-5-768x412.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-5-1536x823.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-5-2048x1098.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Number of Lightning Network nodes and channels. Data: <a href=\"https:\/\/studio.glassnode.com\/dashboards\/lightning-network\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June the capacity of Bitcoin\u2019s micropayment network Lightning Network (LN) continued to grow \u2014 by month-end it reached 4005 BTC (39316 BTC at end-May). <\/li>\n<li>The number of LN nodes and channels barely changed in June: 0.4% rise in the first metric and a 0.6% drop in the second.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Mining, hash rate, commissions<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"471\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2-1024x471.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177915\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2-1024x471.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2-300x138.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2-768x353.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2-1536x707.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-EH-s.-Dannye-Glassnode.-2-2048x942.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hash rate dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.HashRateMean&#038;mAvg=7&#038;mMedian=0&#038;s=1640988000&#038;u=1656668911&#038;zoom=ytd\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"408\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/hashprice-1-1024x408.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177916\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/hashprice-1-1024x408.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/hashprice-1-300x120.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/hashprice-1-768x306.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/hashprice-1-1536x612.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/hashprice-1.png 1784w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hash price dynamics. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June hash rate hardly changed; the smoothed seven-day moving average rose just 1%, to 214.65 EH\/s. Such a sluggish change is linked to the possible shutdown of lower-performance miners in a bear market.<\/li>\n<li>Hash price fell to $0.09 per TH\/s, matching levels from October 2020. In this scenario many miners must sell cryptocurrency to cover costs, putting downward pressure on the market.<\/li>\n<li>Arcane Research researchers estimate that the latest-generation Antminer S19 ASIC miner yields around $13,000 per mined BTC (at electricity cost of $40 per MWh). Old Antminer S9s are already unprofitable.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"957\" height=\"720\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ASIC-Price-Index.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177918\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ASIC-Price-Index.png 957w, https:\/\/u1f987.com\/wp-content\/uploads\/ASIC-Price-Index-300x226.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ASIC-Price-Index-768x578.png 768w\" sizes=\"auto, (max-width: 957px) 100vw, 957px\" \/><figcaption class=\"wp-element-caption\">ASIC Price Index. Data: <a href=\"https:\/\/arcane.no\/research\">Arcane Research<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"567\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-slozhnosti-dobychi-bitkoina.-Dannye-Coin-Metrics.-1-1024x567.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177919\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-slozhnosti-dobychi-bitkoina.-Dannye-Coin-Metrics.-1-1024x567.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-slozhnosti-dobychi-bitkoina.-Dannye-Coin-Metrics.-1-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-slozhnosti-dobychi-bitkoina.-Dannye-Coin-Metrics.-1-768x425.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-slozhnosti-dobychi-bitkoina.-Dannye-Coin-Metrics.-1-1536x851.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-slozhnosti-dobychi-bitkoina.-Dannye-Coin-Metrics.-1-2048x1134.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hash-rate dynamics. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The cost of equipment per terahash has fallen below $60, matching January 2021 levels. Current hash price is roughly half of what it was 18 months ago, signaling low ROI for ASIC miners.<\/li>\n<li>The Bitcoin mining difficulty rose by only 1% for the month \u2014 to 29.57T. The metric sits near the level prior to the May sell-off.<\/li>\n<li>Relatively high difficulty against falling prices worsens miners\u2019 position, reducing profitability and increasing costs.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"492\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-1024x492.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177921\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-1024x492.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-768x369.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-1536x738.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1.png 1964w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin miners\u2019 revenues by month, $ mln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1620045296&#038;u=1627821296&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"572\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-1024x572.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177922\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-1024x572.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-768x429.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1-1536x858.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody-Ethereum-majnerov-po-mesyatsam-mln-.-Dannye-Glassnode.-1.png 1686w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum miners\u2019 revenues by month, $ mln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1635930245&#038;u=1643706245&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June, total Bitcoin miner revenues fell 26%, to $668 million, with a marked acceleration since March.<\/li>\n<li>Total Ethereum miner revenues fell 52% \u2014 Ether mined in the month totaled $694 million. This is below January 2021&#8217;s $798 million.<\/li>\n<li>These figures add to the case for miner capitulation and a possible market-cycle bottom.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"593\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-11-1024x593.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177924\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-11-1024x593.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-11-300x174.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-11-768x445.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-11-1536x889.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Glassnode.-11-2048x1186.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Average BTC- and ETH-trade commission dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=fees.VolumeMean&#038;s=1643638166&#038;u=1651410566&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Average on-chain fee per Ethereum transaction fell 53.7% month-on-month to $4.27, comparable to July 2021 levels.<\/li>\n<li>In the second half of June, the average fee per Bitcoin transaction did not exceed $2.<\/li>\n<li>The main reason for these low values is cooling on-chain activity amid bearish sentiment.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Trading volumes<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"566\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-6-1024x566.png\" alt=\"June 2022 in numbers: Bitcoin below $20,000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177926\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-6-1024x566.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-6-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-6-768x425.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-6-1536x850.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/obem-torgov-6-2048x1133.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume on leading spot exchanges, $ bln. Data: <a href=\"https:\/\/www.theblockcrypto.com\/data\/crypto-markets\/spot\">The Block<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In June trading volume on crypto exchanges reached a June 2020 low of $672 billion.<\/li>\n<li>By platform, Binance remained the leader with $398 billion. FTX again beat Coinbase and OKX \u2014 $72 billion vs $59 billion and $41 billion respectively.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Futures and options<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"563\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-16-1024x563.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177928\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-16-1024x563.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-16-300x165.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-16-768x422.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-16-1536x844.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-16-2048x1125.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume of Bitcoin and Ethereum futures, $ triln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.FuturesVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"571\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-16-1024x571.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177929\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-16-1024x571.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-16-300x167.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-16-768x428.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-16-1536x856.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-16-2048x1142.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume of Bitcoin and Ethereum options, $ bln. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.OptionsVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June investors showed strong interest in derivatives on Bitcoin and Ethereum. Futures trading volume was the highest in the quarter ($1.32 trillion for Bitcoin and $0.87 trillion for Ethereum).<\/li>\n<li>Open interest (total futures positions) declined during the month from $16 bln to $10.4 bln, while daily liquidations on June 13 exceeded $1 bln.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">DeFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"503\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-9-1024x503.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177931\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-9-1024x503.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-9-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-9-768x377.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-9-1536x755.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-9-2048x1007.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the value of funds locked in DeFi \u2014 DeFi Llama data.<\/figcaption><\/figure>\n<\/div\n\n\n\n\n\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-5-1024x512.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177932\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-5-1024x512.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-5-300x150.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-5-768x384.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-5-1536x768.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-5-2048x1024.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top ecosystems by blocked funds size (TVL), DeFi Llama data.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June the TVL of smart contracts in DeFi fell 36% to $74.72 billion. The downturn was driven by the macro market crisis and issues surrounding major industry players and stETH.<\/li>\n<li>Ethereum remains the undisputed leader, with TVL around $42.83 billion (down from $71.98 billion in May). Meanwhile, ETH-denominated TVL rose by 11% to 40.27 million from 37.74 million in May.<\/li>\n<li>The Avalanche ecosystem rose to third place in TVL terms. Inflow to Avalanche-based dApps for June amounted to 111.32 million AVAX (+53% vs. May), partly due to the cross-chain bridge launched with Bitcoin.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"511\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-3-1024x511.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177934\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-3-1024x511.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-3-300x150.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-3-768x384.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-3-1536x767.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-3.png 2002w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top-20 DeFi assets by market cap. Data: Messari (as of 01.07.2022).<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"638\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-8-1024x638.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" class=\"wp-image-177935\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-8-1024x638.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-8-300x187.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-8-768x478.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-8-1536x956.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-8.png 1818w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top 5 DeFi projects on Ethereum by blocked funds value, bn $. Data: DeFi Llama (as of 01.07.2022).<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In June, all top-20 DeFi tokens by market cap moved into the red zone in the face of continued weakness. The land plots of the Otherdeed from Bored Ape Yacht Club dropped more than 90% in volume.<\/li>\n<li>Among chains, ImmutableX and Panini posted positive momentum; activity on most major chains fell by more than 50% vs. the prior negative month.<\/li>\n<li>Once again OpenSea captured the market narrative. Monthly turnover was the lowest in 2022, at just under $700 million.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Activity of major players<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2350\" height=\"1182\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-4-1.png\" alt=\"June 2022 in numbers: Bitcoin below $20 000, stETH discount and collapse of well-known crypto firms\" \/><\/figure>\n<div class=\"country_blk\" data-blk=\"1\">In Japan, <a href=\"https:\/\/u1f987.com\/en\/news\/japan-passes-law-recognising-stablecoins-as-digital-money\">adopted<\/a> a stablecoin law.<\/div>\n<div class=\"country_blk\" data-blk=\"2\">Panama\u2019s president <a href=\"https:\/\/u1f987.com\/en\/news\/panamas-president-vetoes-crypto-bill-over-fatf-recommendations\">vetoed<\/a> a cryptocurrency bill, following FATF guidance.<\/div>\n<div class=\"country_blk\" data-blk=\"3\" style=\"text-align: left\">\n<ul>\n<li>The US Federal Reserve chair: we are closely <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-jerome-powell-we-are-closely-watching-developments-in-the-cryptocurrency-market\">monitoring<\/a> developments in the crypto market.<\/li>\n<li>Gary Gensler: the US SEC <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-sec-to-regulate-the-crypto-market-jointly-with-the-cftc\">will regulate<\/a> the crypto market in cooperation with the CFTC.<\/li>\n<\/ul>\n<\/div>\n<div class=\"country_blk\" data-blk=\"4\">ECB head <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-chief-calls-for-oversight-of-crypto-lending\">called for<\/a> tighter oversight of crypto lending.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">In the United Kingdom, authorities <a href=\"https:\/\/u1f987.com\/en\/news\/uk-proposes-measures-to-guard-against-a-stablecoin-crash\">proposed<\/a> measures to protect against stablecoin collapses.<\/div>\n<div class=\"country_blk\" data-blk=\"6\"><strong>Albania<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/albania-to-tax-cryptocurrency-income\">will implement<\/a> taxation for cryptocurrencies.<\/div>\n<div class=\"country_blk\" data-blk=\"7\">In <strong>Uzbekistan<\/strong>, requirements for miners <a href=\"https:\/\/u1f987.com\/en\/news\/uzbekistan-sets-out-requirements-for-miners\">were enacted<\/a>.<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Month\u2019s events<\/h2>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/ethereum_merge_2-min.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-team-migrates-ropsten-testnet-to-proof-of-stake-consensus\">Ethereum team migrated Ropsten testnet to Proof-of-Stake<\/a><\/strong><\/div>\n<p>Developers migrated the Ropsten testnet to a Proof-of-Stake consensus algorithm, a rehearsal for Ethereum\u2019s full transition to Ethereum 2.0.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.news\/wp-content\/uploads\/crack-min.png);\"><strong><a href=\"https:\/\/forklog.news\/kak-problemy-celsius-3ac-i-steth-povliyayut-na-tsenu-ethereum-i-rynok-kriptovalyut\/\" target=\"_blank\" rel=\"noopener\">How Celsius, 3AC and stETH issues could affect Ethereum price and the crypto market<\/a><\/strong><\/div>\n<p>As dust settles after Terra\u2019s collapse, Celsius and hedge fund Three Arrows Capital (3AC) draw attention. Major players near bankruptcy could impact the entire crypto market. Alameda Research\u2019s aggressive stETH selling adds to market pressure.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/solana_2_720.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/solana-team-unveils-saga-a-web3-focused-smartphone\">Team Solana unveiled Saga, a Web3-focused smartphone<\/a><\/strong><\/div>\n<p>Solana introduced Solana Mobile Stack tools for mobile developers on Solana and the Saga smartphone built on Android. The device aims to bypass restrictions from Google and Apple, granting users seamless access to Web3.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/Coinbase_2-min.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-to-cut-about-18-of-its-staff\">Coinbase to cut around 18% of staff<\/a><\/strong><\/div>\n<p>In June, crypto firms announced large-scale job cuts amid a crypto winter. Among them were Coinbase, <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-com-chief-announces-layoffs\">Crypto.com<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-to-lay-off-a-fifth-of-its-workforce\">BlockFi<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/bybit-to-cut-up-to-30-of-staff-reports-say\">Bybit<\/a>, and many others. Binance was an exception, signalling plans to expand payroll.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin fell below the prior cycle\u2019s peak for the first time; public miners\u2019 equities plunged, yet on-chain indicators are already signaling a positive outlook.<\/p>\n","protected":false},"author":1,"featured_media":63954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"4","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1740],"class_list":["post-63953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-industry-in-numbers"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"4","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63953"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63953\/revisions"}],"predecessor-version":[{"id":63955,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63953\/revisions\/63955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63954"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}