KEYTAKEAWAYS
- Deutsche Telekom plans to enter Bitcoin mining, raising competition concerns among existing miners.
- ZKsync's ZK token airdrop reaches an $800M market cap, despite technical issues on Binance.
- DJT token linked to Donald Trump surges, leading to declines in other PoliFi tokens like $TRUMP and $BODEN.
CONTENT
In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.
DEUTSCHE TELEKOM TO BEGIN BITCOIN MINING
Deutsche Telekom, parent of T-Mobile, announced plans to start mining Bitcoin, as revealed by Dirk Röder at the BTC Prague conference. Röder did not specify details about the mining capacity or location. This move follows a turbulent period for the mining sector marked by the 2021 bull market, crypto winter, and the latest Bitcoin halving.
Deutsche Telekom has been active in digital assets, operating validators on networks like Polygon and Ethereum, and launching the Energy Web Chain. The company has been running Bitcoin and Lightning nodes since 2023. This development boosts Bitcoin mining sentiment but raises concerns about increased competition for existing miners. Previously, T-Mobile faced lawsuits over SIM swapping attacks, highlighting potential challenges in its Web3 ventures.
ZKSYNC’S ZK TOKEN AIRDROP HITS $800M MARKET CAP
ZKsync has launched its ZK token airdrop, with 45% claimed within two hours. The ZK token, initially priced at $0.31, has fallen to $0.22, maintaining an $800 million market cap. Exchanges like Binance, Bybit, and KuCoin have listed the token despite technical issues on Binance.
More than 45% of the airdropped ZK token supply has been claimed by over 225,000 addresses in less than 2 hours 😳
It’s a Monday, don’t you have work? https://t.co/gSA8mc0QOg
— ZK Nation (@TheZKNation) June 17, 2024
The airdrop distribution includes 89% for ZKsync users, with the rest for ecosystem contributors and initiatives. Matter Labs acknowledged the unconventional design after user feedback. Tokens for employees and investors are locked for a year, with gradual release over three years. The remaining supply will support governance and ecosystem development.
TRUMP-LINKED DJT TOKEN CAUSES POLIFI DECLINE
$DJT, a Solana blockchain token, surged 180% on an unconfirmed report linking it to former U.S. President Donald Trump. Pirate Wires claimed Trump’s son Barron is leading the project, though this remains speculative without direct confirmation.
The token’s market cap reached $177 million, but the news caused other PoliFi tokens to drop. The $TRUMP token fell 30%, while $TREMP and $BODEN also saw significant declines. Pirate Wires’ Mike Solana clarified the information was sourced indirectly and noted the project’s legitimacy is uncertain. The Trump campaign did not comment, and skepticism persists in the crypto community.
