RevenueBot Crypto News Monthly Recap

As the month of June is about to end, it’s high time to catch up on some of the most buzzworthy news over the past month. 

Mt.Gox to repay $BTC, $BCH and cash starting July

As early as May 28, a series of huge transactions took place in which the once-largest exchange Mt. Gox transferred almost all of its $9.3 billion worth of Bitcoin (137,892 BTC) to a new address.

Trustee of the now-bankrupt stock exchange Nobuaki Kobayashi said creditors are to receive basic, interim and early lump sum payments by Oct. 31 this year.  

Back in May, traders feared Mt. Gox will thus affect the entire crypto market, with another dump looming. It looks like the rumors were for a reason: once news of the enormous bitcoin transfer surfaced, the alpha cryptocurrency plummeted in value – at some point, its exchange rate dipped to $67,000 after soaring to $70,000 shortly before.

Quite recently, on June 24, the Mt.Gox trustee announced that all the refunds are set to begin in early July. Customers affected by the hack will be compensated in Bitcoin, Bitcoin Cash, and cash. 

Another thing that traders are afraid of is the start of repayments themselves, since those affected may start selling BTC actively, triggering a slump in the price of the leading cryptocurrency. There have been also been speculations that refunds will be made at the BTC price as of the loss, roughly $483, and $9 billion worth of total payouts are expected. 

Seemingly, the news is not irrelevant anymore and the crypto community will not respond to it in any way. However, Bitcoin actually responded by tumbling to the $58,500 level before recovering slightly. 

The only thing left to do is wait for the reimbursements to kick in and see how the beneficiaries of the compensation perform. 

Notcoin ($NOT) airdrop ended 

The mining phase (i.e. obtaining coins for tapping) wrapped up back in early April. All that time, however, players could get their tokens in a mini-app inside of the Telegram messaging app and choose whether to transfer them to their exchange wallet, withdraw or list them right away in Notcoin. Its user base surged to 40 million over the past week.

So far, some 11.5 million users have claimed $NOT, according to the dev team. The majority of the coins within the airdrop have already been distributed to users. Gold and Platinum level stakers are eligible for an extra award.

Some of the unclaimed tokens are to be used for future developments while the rest will be burned.

In fact, the Notcoin community has had a tremendous impact on the explosive spread of the project’s popularity. The team says that 94% of Notcoin official Telegram channel subscribers joined thanks to invite links from friends and other contacts.

Such an intense social campaign on Telegram and other media platforms fueled the idea of a gaming crypto ecosystem to quickly spread around the globe. The group chats are posting guides, tips, updates and promotions on a regular basis for members, which catches the eye of newcomers and builds the loyalty of those who already joined some time ago.

On top of Durov, Telegram founder himself, famous bloggers and influencers also contributed significantly to the hype around Notcoin by actively covering the project’s latest news. What’s more, the video of Notcoin’s official appearance at the Web3 Asia Forum has garnered over 5 million views in the first 24 hours. Experts assume that the startup will be able to reach a market cap of $10 billion over the first year, after listing on top crypto exchanges. 

U.S. SEC clears ground for Spot Ether ETF 

It was the SEC’s Division of Trading and Markets, not the commissioners themselves, that decided to approve spot ether ETFs. SEC chief Gary Gensler din’t give a green light to the filings.

While the financial watchdog has approved the listing of spot ether ETFs on exchanges, issuers need their S-1 registration statements to come into effect before trading can begin. Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, emphasized that it could take several weeks for the S-1 documents to be validated.

According to digital asset lawyer Justin Browder, the approval of spot ether ETFs means that the cryptocurrency in question, like ‘a lot’ of other altcoins, is not considered a security.

Despite the fact that the news about the ETH-ETF approval came out in late May, it was still not clear when the market would see the brand new trading instrument. 

By late June, the situation brightened: Reuters reported, citing sources, that the ETH-ETF would be given a green light as early as July 4. Negotiations between the issuers and the financial watchdog are reaching the final stage.

Unnamed issuer representatives indicated that the application amendment process has progressed to “minor” issues to be resolved. These papers must be authorized before the exchange-traded funds can be launched.

A lawyer acting for one of the issuers noted that the approval is expected to be “probably not more than a week or two away.”

‘Hamser invasion’. Details on Hamster Combat

As a way to crown our news picks, we will now discuss a project that goes on the “Tap-to-Earn” hypetrain at the moment – Hamster Combat. 

Well, the absolutely chaotic buzz around the project is not completely understood. It was promised by Hamster Combat developers that the listing would take place back in May, but it never happened. Afterwards, they postponed all these plans to July, but there is no news about any exchanges planning to list the token – that is, looking forward to the end of June, it looks like the event will be shifted once again. 

Meanwhile, this ‘killer app’ boasts an estimated 200 million players, which is pretty impressive. Everyone and their dog are tapping those right now, and some people are already building mining farms for that purpose. The truth is it is not clear how much this affair will pay off, as the price of the still-not-existing token would likely drop dramatically with such a sizable audience. 

Therefore, let’s wait for July and see if Hamster Combat happens to be listed somewhere. 

RevenueBot Updates

Among the major ones are:

  • Getting started on RevenueBot is much simpler from now on – we’ve added a couple of ready-made bots on your Dashboard. Check them out!
  • You can now customize the display of balances on your exchange wallets, total PNL (Profit and Loss) index, as well as the bot deposits required – all on your Personal account homepage to boost the workflow;
  • According to your requests – introducing the ability to delete previously created configurations and order grids.

And the list goes on. For more info on the recent update, see the related page on our Blog.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments