After Longling Capital transferred 10,000 ETH to Binance, its associated address withdrew 21.94 million USDT from Binance

2026-06-07 by admin

Deep Tide TechFlow News, June 6th. According to on-chain analyst EmberCN, after Longling Capital (0x347…dcf) transferred 10,000 ETH to Binance, its associated address withdrew 21.94 million USDT from Binance. The address holds 95,800 ETH (worth $149 million) deposited in Aave and has borrowed 91.33 million USDT, with an ETH liquidation price of $1,148.

TechFlow News, June 06 - ZODL, a core contributor to the Zcash ecosystem, announced it is jointly proposing a new network upgrade and privacy pool, Ironwood, with Tachyon, Valar Group, Zcash Foundation, and Shielded Labs. Ironwood will be built on the existing Orchard protocol, with enhanced security through formal verification and additional independent audits.Under the proposal, all ZEC supply in Orchard will be migrated to Ironwood via a "Turnstile" mechanism, which allows anyone to independently verify the circulating supply of Zcash, ensuring that the amount of ZEC in circulation does not exceed what has actually entered the new pool. After the upgrade, the Orchard pool will close new deposits and internal transactions, only allowing funds to migrate to Ironwood through the Turnstile.ZODL stated that recently discovered Orchard soundness issues have been fixed through responsible disclosure and coordinated upgrades, with no evidence that the vulnerability was exploited, nor any indication that user funds, privacy, or the total ZEC supply were affected. Wallets supporting Orchard will offer a one-click migration feature post-upgrade, and users' existing Orchard receiving addresses will remain functional. The team plans to activate Ironwood by the end of July 2026, after zcashd support ends (block height 3,417,100), but the exact timing depends on testing, review, and ecosystem coordination progress.

PANews reported on June 6th that, according to Cointelegraph, Bitcoin's daily Relative Strength Index (RSI) has fallen to approximately 15.5, the lowest level since the March 2020 crash due to the pandemic, indicating that the market is extremely oversold. Historical data shows that similar levels occurred in 2020 and February 2026, followed by BTC rebounds of approximately 50% and 30%, respectively. Currently, after experiencing a drop of approximately 30% over the past month, Bitcoin is still holding the key support level of $60,000. Analysts believe that if this support remains effective, BTC may rebound to around $70,600 near the 20-day EMA in the coming weeks; if it falls below $60,000, it could further decline to the mid-$50,000 area. Furthermore, crypto analyst Scott Melker, citing Checkonchain data, stated that short-term holders have recorded the largest loss-making sell-off in history, while long-term holders have approximately 5.3 million BTC in a floating loss state, the highest level since March 2020. Melker believes that market sentiment has shifted from extreme optimism at the May highs to extreme pessimism in early June, and this "despair" often indicates that the market bottom is approaching.

PANews reported on June 6th that Barry Silbert, founder and CEO of DCG (Grayscale's parent company), stated in an article on the X platform that participants in the crypto market should not gloat over the decline in Zcash (ZEC) prices, but rather focus on improving their crypto assets' ability to withstand AI and quantum risks. He emphasized that instead of mocking the volatility of a single asset, it's better to learn risk management and technical protection to prepare for potential future market and technological shocks. Analysts believe that Silbert's comments highlight institutions' focus on the long-term resilience and security of crypto assets, while reminding market participants not to focus solely on short-term price fluctuations and ignore potential systemic risks.