Meta Pool says an early detection system discovered the exploit, allowing it to pause the affected smart contract and prevent further losses.

Meta Pool hit with $27M exploit, but attacker flees with only $132K

Thailand has announced a five-year exemption on capital gains tax for crypto 
transactions, aiming to boost tax revenue and position the country as a global 
digital asset hub. Thailand&#8217;s Ministry of Finance has approved a new tax 
measure aimed at…

Thailand exempts crypto capital gains tax for 5 years

Crypto ATM operators in Washington’s Spokane City have been ordered to remove 
their kiosks within 60 days following a citywide ban. The decision was enacted 
following a unanimous vote during the Spokane City Council’s legislative 
session on June 17, making…

Crypto ATMs banned in Washington’s Spokane city as scam losses mount

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden 
Cross has surged into a zone that has historically signaled overpriced 
conditions for the asset. Bitcoin NVT Golden Cross Has Crossed Above 2.2 In a 
new post on X, CryptoQuant author Darkfrost has talked about the latest trend 
in the NVT Golden Cross of Bitcoin. The NVT Golden Cross is an indicator based 
on another metric known as the NVT Ratio. The NVT Ratio keeps track of the 
ratio between the BTC market cap and transaction volume. The idea behind the 
indicator is that the ability to transact coins (as gauged by the transaction 
volume) could be considered as a reflection of the asset&#8217;s &#8216;fair value.&#8217; 
Related Reading: XRP Bullish Signal: Shark &amp; Whale Wallets Set New All-Time 
High Thus, through the comparison of the cryptocurrency&#8217;s current value (that 
is, the market cap) with this fair value, the metric can tell us about whether 
the asset is overvalued or undervalued. When the value of the metric is high, 
it means the market cap is high compared to the transaction volume. Such a 
trend could imply BTC may be becoming overheated. On the other hand, the 
indicator being low could suggest room for the coin to grow relative to its 
volume. Now, the NVT Golden Cross, the actual metric of relevance here, is a 
signaling indicator like the Bollinger bands for the NVT Ratio that aims to 
locate tops and bottoms in its value. The NVT Golden Cross does so by 
comparing the short-term trend (represented by the 10-day MA) with the long- 
term one (30-day MA). Below is the chart shared by the analyst that shows the 
trend in the metric over the last couple of years. As displayed in the above 
graph, the Bitcoin NVT Golden Cross has recently registered a sharp uptick and 
entered into the region above the 2.2 mark (highlighted in red). This zone is 
where the cryptocurrency&#8217;s market cap has historically outpaced the 
transaction volume to a degree that a reversion to the mean has tended to 
occur. In other words, it&#8217;s where price corrections to the downside have taken 
place for the asset. Related Reading: Stablecoin Exchange Inflows Plummet $61 
Billion—Warning Sign For Bitcoin? Though, it&#8217;s visible from the chart that not 
every top in the NVT Golden Cross inside this territory coincides with a price 
top. And in many instances that it does, the decline in the asset isn&#8217;t to 
some major degree. So far since the signal has appeared, however, the asset 
has indeed been going down, a potential sign that the same reversion effect 
may be in play once more. It now remains to be seen whether downside will be 
limited, or if this will be one of those instances where the signal was 
followed by an extended drawdown. BTC Price At the time of writing, Bitcoin is 
floating around $103,700, down almost 5% in the last seven days. Featured 
image from Dall-E, CryptoQuant.com, chart from TradingView.com

Bitcoin NVT Enters Reversal Zone: BTC Dangerously Overvalued?

The Iranian crypto exchange’s wallets were exploited for at least $73 million 
as attackers used vanity addresses for the theft.

Iranian crypto exchange Nobitex reportedly exploited for $73M: ZachXBT

Circle&#8217;s stock (NYSE: CRCL) reached an all-time high of $165.60 on June 16 
before closing at just above $151, marking a more than 500% increase since its 
Nasdaq debut. Arthur Hayes, founder of Bitmex, cautions that Circle&#8217;s 
remarkable performance may be difficult to replicate. Growing Investor 
Interest in Stablecoins On June 16, stablecoin issuer Circle&#8217;s […]