Open interest on Bitcoin options contracts expiring next Friday amounts to $930 million, but what price action should be expected?
Much attention has been paid to the Bitcoin options and futures market and each week crypto media reports on new record open interest figures being achieved. As the date of another futures and options expiry approaches, traders are becoming anxious due to the fact that the Bitcoin (BTC) price has consistently failed to surpass the $10K mark.

To date more than 100,000 Bitcoin options totaling $930 million are set to expire on June 26 totaling and this figure represents nearly 70% of its entire open interest. On June 15 Bitcoin price pulled back to $8,900 and this led investors to question whether professional traders have turned bearish as the June 26 expiry date approaches.

Readmore: https://cointelegraph.com/news/930m-in-bitcoin-options-expire-next-friday-time-to-worry

Crypto has turned from an inevitable future to our happening present, and stablecoins may become the industry’s cornerstone.
Major financial institutions love certainty, and that will help the crypto community immensely. Let’s get down to basics: A stablecoin is a type of digital asset designed to solve the problem of the hypervolatility of cryptocurrencies.

This year is an exciting time for stablecoins as interest among financial institutions picks up speed. For example, Wisdomtree, a regulated money manager, has made plans to launch a stablecoin as an extension of its business in exchange-traded funds. IBM, State Street, JPMorgan Chase and Wells Fargo have all been exploring the opportunities provided by stablecoins. None of these institutions are prone to wild speculation. It’s these institutions that will drive mass adoption.

Readmore: https://cointelegraph.com/news/driven-by-financial-institutions-stablecoin-acceptance-turns-a-corner

Chainlink’s price oracles are quickly emerging as the industry-standard data source for the DeFi sector, with top project Kyber Network integrating the price feeds for its token swaps.
Chainlink’s price oracles are continuing to see widespread adoption among decentralized finance, or DeFI, protocols, with Kyber Network (KNC) integrating the price feeds on its KyberSwap token swap service on June 12.

KyberSwap is at least the third DeFi platform to integrate Chainlink’s price data this month, signposting Chainlink’s increasing dominance over the niche market.

Price references displayed for token swaps on the platform now derive from both Kyber Network’s native feeds and Chainlinks oracles.

Readmore: https://cointelegraph.com/news/chainlink-price-oracles-dominate-defi-data-feeds-amid-kyberswap-integration

A leading South Korean professor from the Hongik University does not believe cryptocurrencies are safe from market recession.
On June 11, South Korean experts stated through local media that cryptocurrencies are a “poor choice” of safe-haven assets during the COVID-19 pandemic.

According to The Scoop, Professor Hong Ki-hoon of Hongik University stated that crypto-assets like Bitcoin (BTC) should not be considered as “safe-haven assets,” at the level of Gold, dollars, or even the U.S. Treasury bonds. He does not deny, however, that volatility in the financial markets is causing more money to accumulate in the crypto market.

Readmore: https://cointelegraph.com/news/south-korean-experts-say-crypto-is-a-poor-safe-haven-asset

Gaming behemoth Atari announced that holders of its blockchain token will be able to spend it on betting, gaming and shopping.
Gaming behemoth Atari announced that holders of its Atari token will be able to spend it on betting, gaming and shopping.

According to an announcement on June 12, the new offerings for Atari token holders follow a partnership with esports firm Unikrn.

With the partnership, Unikrn will get access to Atari’s classic games such as Centipede, Pong and Asteroids. Atari — on the other hand —  will get access to the firm’s esports betting platform and will see its token added to its ecosystem.

Readmore: https://cointelegraph.com/news/gaming-giant-atari-to-use-its-atari-token-for-betting-gaming-and-shopping

DeFi hits new heights with more than 1,000 new assets added in May and total user numbers reaching 550,000.
Decentralized finance (DeFi) continues to grow at an exponential rate with the number of new DeFi assets increasing by almost ten fold over the same time last year.

Zerion DeFi project founder Evgeny Yurtaev shared a graphic on Twitter showing the number of new assets almost doubled in the last month and commented that growth “looks exponential to me”. The number of new assets reached over 1,000 for the first time last month with Uniswap Protocol accounting for approximately 75% of them.

Readmore: https://cointelegraph.com/news/defi-records-exponential-growth-in-assets

Algorand and Blockstack have launched a joint open-source project to support the development of a smart contract language.
Proof-of-stake blockchain protocol Algorand and blockchain software firm Blockstack have launched a joint open-source project to support the development of a smart contract language dubbed “Clarity.”

Both claim that existing smart contract languages are neither secure nor predictable enough to meet the growing needs of the emerging industry.

As of this February, $1 billion in value was locked in decentralized finance (DeFi) markets, where smart contracts are used to innovate financial services such as credit and lending.

Readmore: https://cointelegraph.com/news/blockstack-and-algorand-back-more-secure-smart-contract-language