You can read the Digest here:

• To end a 9-week bearish trend, rallies over $31k.

• Yuga Labs Discord server hack: More than 200 Eth stolen.

• Hackers target ‘Move-to-Earn’ game STEPN with DDoS attacks.

• The much-anticipated Merge will be accompanied by Keynotes

• Releases upgrade to address halting problems and hits new milestone in NFT

Bitcoin ends 9-week bearish streak to rally above $31k

After closing nine successive weeks lower than it started, Bitcoin, the world’s largest crypto, has closed a week out with bullish signs.

The cryptocurrency market has seen a rebound after the end of the longest bearish period for Bitcoin, which began in 2009. Bitcoin traded as high at $31,492 in the last 24hrs, having gained 6.1% over the previous 24 hours.

This is the 24 hour chart of Bitcoin’s price (BTC). Source: CoinMarketCap

Flipsider:

• At the height of Bitcoin’s drop in May, the number of Bitcoin ATM installations All over the world, there was a significant drop in their overall population. since 2019, falling 89.75% from December 2021’s 1,971 new installations.
• Bitcoin miners who have a reputation for long-term ownership are starting to sell the tokens they hold to make up their losses.

What You Need to Care About

Investors would like to see Bitcoin trade at the $32k mark in the case of a prolonged breakout.

Yuga Labs Discord Server Hacked: NFTs Worth Over 200 ETH Stolen

Yuga Labs is the company behind two highly-valued NFT collection launches, CryptoPunks and Bored Apes. This latest hack has made Yuga Labs the victim of a major project. Yuga Labs’ official Discord server was compromised on Saturday June 4th. This led to the theft or NFTs of over 200 Ethereum.

Yuga Labs confirmed that the breach was reported first by Twitter’s NFTherder user (NYSE:). The hacker gained access to the Yuga Labs Discord server after managing to compromise the account of Yuga Labs’ Community Manager Boris Vagner.

The hacker, using Vagner’s account, posted phishing links on the official Discord channels for the BAYC and the Otherside metaverse, posing as an exclusive giveaway. The links were clicked by unsuspecting victims, who lost their BAYC NFTs, Otherside NTs, and Ethereum coins.

The fraudster made away with NFTs worth approximately 200 ETH, or $361,000 USD by the day’s prices. NFTherder stated that approximately 145 Ethereum ($260,000 USD), had been traced back to four addresses associated with the attack.

Flipsider:

• Snoop Dogg the popular rapper will open Bored Ape NFT-themed desserts restaurant in Los Angeles.

What You Need to Care About

For NFT scams, Discord hacks are the latest technique. Gordon Goner (Co-Founder of BAYC) has called for greater security on the platform.

Hackers Target (NYSE:) ‘Move-to-Earn’ Game STEPN with DDoS Attacks

STEPN, the popular move-to-earn crypto game on the Solana chain, fell victim to various distributed denial-of-service (DDoS) attacks during an “anti-cheating” update last weekend, marking the third such incident this year.

On June 5th, users were informed that the game was experiencing “network congestion” after being targeted by 25 million DDoS attacks within a short period. The attack led to some players being misidentified and taken off the platform.

According to a thread on STEPN’s official Twitter page, STEPN developers are still working to resolve the issue, and have advised users to “have some rest during maintenance” as workouts may not be properly recorded.

Due to relentless attacks on the platform, STEPN has sustained significant losses. The attack isn’t the first. In April and May it was disclosed by the company, that DDoS attacks had been used by hackers to try to shut down the network.

Flipsider:

• STEPN is now recovering from the $0.9135 weekly low on June 5, 2017. Over the past 24 hours, the token’s value has increased by 8% to trade at $1.02 as of this writing.

Here is the 24-hour price chart for STEPN, GMT. Source: CoinMarketCap

What You Need to Care About

STEPN has apologized for the inconvenience caused, and announced a “double energy event” to assist users in earning more and recover any temporary losses they may have incurred.

Preparations for the much-anticipated Ethereum Merge

Ethereum core developer Tim Beiko recently announced that the much-anticipated Ropsten testnet transition away from Proof of Work to the Proof of Stake model could be expected on “around June 8th or so.” Here’s what on-chain data suggests about Ethereum (ETH) with the Merge imminent.

On-chain data shows that ETH investors are increasing the amount of their holdings to prepare for a price boost in the aftermath the Merge. Glassnode data shows that addresses with more than 32 ETH reached a high of 111.292 addresses in 13 months.

The annual high for addresses holding more than 1 ETH is 1,485,908. Furthermore, these addresses have been steadily increasing their holdings since May 31st⁠—the day after Beiko made the announcement.

Ethereum is rallying with the larger crypto market. In fact, it has gained over 7% in 24 hours. ETH is trading at $1.910 as of writing. It is likely to surpass the $2,000 mark once the Merge is completed.

Here is the 24-hour price chart for Ethereum (ETH). Source: CoinMarketCap

Flipsider:

• Ahead of the Merge, the total amount of Ether (ETH) locked in Ethereum’s ETH 2.0 has surpassed 12.764 million ETH coins.

What You Need to Care About

Data from the blockchain confirms that investors have started to collect ETH coins ahead of a rally triggered in part by the upcoming Ropsten Merge.

Solana releases an upgrade to fix halting issues and hits a new NFT milestone

On Wednesday, June 1st, the Solana network experienced its ninth network halt, causing SOL’s price to spiral downwards. Solana developed network upgrade v1.9.28/v1.10.23 in response to this issue. This will prevent further halts.

In the unlikely event of network failure, the upgrade will disable the durable nonce transaction function. Solana is now worth $44, up 10%. With the network now considered “stable”, the token is expected to retest the $50 mark.

Solana’s 24 Hour Price Chart (SOL). Source: CoinMarketCap

Solana reached new milestones within the NFT market despite an overall decrease in NFT sale volume. On Monday, June 6, 2018, the Solana Blockchain saw a total of $2.35 trillion in non-fungible token sales.

Solana is now third behind Ronin (and Ethereum) in overall rankins. In similarly positive news for Solana, the network has recorded average, monthly NFT sales volumes of $150 million in 2022 – the second highest of all NFT chains.

Flipsider:

• Institutional investors have transferred their money out of Solana to fund a competing chain because of its recurring problems.

What You Need to Care About

If the upgrade can manage to keep the network stable, Solana’s status as one of the fastest blockchains could drive the usage and price of the SOL token to new heights.

Continue reading on DailyCoin