Daily Flash | Glassnode Reports 56% of Market Participants Still In-the-Green, Babel Finance Reaches Debt Agreement

Today's Headline - Babel Finance Reaches Debt Agreement With Counterparties

According to a Monday morning post on the company's website, Hong Kong-based crypto lender Babel Finance has reached preliminary agreements with counterparties on the settlement of some debts that led to the platform's suspension of large withdrawals last week.

In the company statement,

”We have communicated with major counterparties and relevant customers and reached preliminary agreements on the repayment period of some debts, which has eased the company’s short-term liquidity pressure.”

The company also said that it informed some shareholders and investors about the possibility of obtaining liquidity help and that it will "actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks."

Chart of the Day - Profitability fails to match previous market bottoms: Glassnode report

Data from on-chain analytics firm Glassnode confirms that as of June 20, 56.2% of addresses were still worth more in United States dollar terms than when their coins entered them.

In March 2020, profitable addresses dropped to 41%, and the 2018 bear market also saw a drop below the 50% mark.

Influencer of the Day - Mark Zuckerberg showed these prototype headsets to build support for his $10 billion metaverse bet

On Monday, Meta CEO Mark Zuckerberg showed off how much progress the social media company has made toward building a metaverse by revealing many of the unfinished headset prototypes the company has built-in its labs.

Zuckerberg highlighted Half Dome, a prototype that aims to improve depth perception with eye-tracking and varifocal optics. Moreover, Meta claims to have created the first VR headset that supports HDR. Codenamed 'Starburst', the prototype can reach 20,000 nits, considerably brighter than contemporary smartphones, laptops, and external monitors.

Buzzes of Yesterday - #Facebook to Create Metaverse Standards with Microsoft and Nvidia, #WeChat Bans Crypto and NFTs Accounts

UK Government Backtracks On Controversial Crypto Data Collection Plan

South Korea Bars Terra Devs From Leaving Country

China’s WeChat bans crypto and NFT-related accounts

Iran to cut electricity to authorized crypto miners

Facebook, Microsoft, Nvidia Unite To Create Metaverse Standards

Proshares Launches First US ETF To Bet On Bitcoin's Decline

Tether has burned 11.1B USDT on Ethereum and Tron

Celsius Network Pauses AMAs and Twitter Spaces, Wants More Time to Find a Solution

MoonPay Launches Utility NFT Minting Service Hypermint

Author: Gate.io Researcher Peter L.
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