👀 What’s to Come in Volume 72

🔑 Key News: Headlines, Exploits, Continued Adoption, DeFi Updates, New Projects & more from CJ

⛓ On-Chain Sleuthing: feature along with Smart Money Moves from Cl

🔥 Hot Narratives from unexployed

📉 HTF Price Action Scenarios: from Vlad

⚔️ A Call to Arms

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🔑 Key News

Major Headlines

• Mastercard Crypto Credential goes live with first p2p pilot transactions

• Gemini Earn users will get back $2.18 billion of their crypto in-kind

• Biden campaign ramps up crypto industry outreach

• Tether acquires $100M stake in Bitdeer

• Japan crypto exchange DMM Bitcoin hacked for $305M

• RoaringKitty shares his $200M GME call position

• Thailand approves their first spot BTC ETF

Project Updates

•  Velocore on zkSync & Linea hacked for $10M which caused Linea to halt the blockchain

• ZKasino updated about bridging back ETH at 1:1 ratio

• ENS introduces ENSv2

• Sei Foundation reveals Phase 2 of their airdrop

• Hyperliquid extends points program with new L1 points season

• Token merger for $FET $OCEAN & $AGIX finalized on June 13th

• Galxe to launch their L1 Gravity Chain in June using Arbitrum Nitro

• aoTheComputer reveals $AO token

• Pudgy Penguins to release mobile game in 2025

• Matter Labs dropping trademark applications for "ZK"

Interesting Projects

• Param Laboratory: Gaming ecosystem backed by Delphi, Mechanism and Animoca

• Syrup Fi: Institutional yield powered by Maple Finance

• Bio xyz: Decentralized Biotech. Tokenize, govern and commercialize the onchain science

• Everclear: Connext Network rebranded, intent-based bridge

• Dunes: Restaking project built on Karak & EigenLayer

• Circuit: DEX built on Zircuit (restaking L2)

Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases

⛓ On-Chain Sleuthing

Some big whale bidding $WINR

With the soon-to-come release of their Layer 3 Orbit chain, $WINR has been making a bit more noise on CT in the last few weeks.

We have this 5 million USD wallet that has been bidding on every dip…

interestingly some $DMT whales (+750k USD position) have been bidding on $WINR as well like this addy:

The Layer 3 narrative could play out AGAIN with $WINR…

Research and analysis by Cl

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Stay tuned on their Twitter for the latest updates!

🔥 Hot Narratives

ZKSync Launch Date

The zkSync team recently put out a very important tweet:

They confirmed Mainnet deployment for June 6th. This also means that their token drop is very close. Many anticipate that the zkSync airdrop will be of the same significance as the Arbitrum airdrop and many farmers will be rewarded with high $$ drops.

Expect the airdrop checker to be launched relatively soon.

The airdrop will likely have positive effects on the zkSync ecosystem. Memecoins such as $ZORRO already experience some positive winds.

Be wary that the airdrop may be disappointing as was the case for StarkNet. Anything can (and will) go wrong in this industry.

That being said, the zkSync token launch will present significant opportunities upon launch including arbitrage and concentrated LPing for fees.

Best of luck.

L3s on Arbitrum Orbit & Arbitrum Ecosystem

We are noticing the emergence of L3s built on top of L2s. DegenSensei put out this tweet which revealed some interesting facts, click the Tweet for full read (make sure to like it as a collective Castle gesture):

In essence, he highlights how many of the new L3s are built on top of the Arbitrum Orbit tech stack.

So far, Arbitrum has been good in the gutter. However, the Arbitrum Orbit adoption over the year shows that Arbitrum is a major leading their respective market. Yes, the unlocks have been unfavorable for the $ARB price, but I do think that the current environment is a prime opportunity to get some pools going on $GRAIL.

The Camelot team is very much aligned with the Arbitrum ecosystem and related L3s, such as $DMT. If you are not keen on getting exposure to any of Arbitrum’s beta’s I highly recommend getting in on the pools on Camelot.

I have talked about this in a prior newsletter, but I really do think that farming xGRAIL in the current market environment is a very simply trick on getting good exposure to Arbitrum overall.

Courtesy of unexployed

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📈 HTF Price Action Scenarios

Gm frens!

Last week I wanted to see some sideways chop on around the 8h timeframe for the MA’s to catch up to price. We see exactly that happening right now. This is the re-accumulation of the current push and all I’m waiting for now is a clear sign of strength that will take us out of the consolidation.

• HTF re-accumulation

• Big impulse validating the re-accumulation

• Sideways price action allowing the MAs to catch up

• Waiting for strength

In order for me to look for longs again I want to either see price break above these local highs and get involved there OR break down for another liquidity grab (spring) and pumping from there. Either way, it’s too early now, I want to see just a little bit more confirmation.

Overall, the market looks good, and I’m ready to pull the trigger soon - patience frens.

Trade responsibly and I’ll see y’all next time!

Courtesy of Vlad - trend-based trader and MentFX student

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The Castle

In our newsletter, we may discuss projects or tokens in which we hold positions. While we aim to provide informative content, our views are not financial advice. Please conduct your research and consult professionals before making investment decisions. Crypto markets are volatile, and past performance doesn't guarantee future results. Invest responsibly, and be aware of the risks. Your capital is at risk, and we do not accept liability for any losses.