This is The Crypto Explorer! your Crypto tour guide.

A warm welcome to the 74 folks who joined us yesterday

Here’s what we got for you today:

• 🆙 Bitcoin's dominance soars!

• ♟️ Meet opBNB: BNBChain’s solution to scalability.

• 🧱 Around The Block: UK moves forward on financial markets bill for potential regulation of crypto.

 🆙 Bitcoin's Dominance Soars!

Bitcoin's dominance in the cryptocurrency market has surpassed 50% for the first time in 2 years.

According to data from TradingView, this epic feat happened on June 19th at 6pm UTC but it has since settled to 49.9%.

Bitcoin alone now accounts for half of crypto’s total $1.1 trillion dollar market capitalization.

According to data from Coingecko, Bitcoin’s current market capitalization stands at $519 billion.

MicroStrategy co-founder, Michael Saylor believes that Bitcoin’s market dominance will top 80% in the coming years (here's why).

Meanwhile, Ether's market dominance remains stable at around 20% for the better part of the year.

♟️ Meet opBNB: BNB Chain’s solution to Scalability.

Binance’s BNB chain has introduced a new layer-2 chain called “opBNB”.

The solution is based on the Optimism OP Stack, and it supports Ethereum-based smart contracts and ERC-20 tokens.

It resolves network congestion and high fees issues that arise during times of increased network demand.

With opBNB, the BNB chain can support over 4,000 transfer transactions per second at an average transaction cost lower than $0.005.

This is a sharp contrast to what the BNB chain currently claims, which is around 2,000 transactions per second with transaction costs of around $0.10.

You can find all the details about opBNB here.

Not everyone is on board with the launch of opBNB on the BNB Chain.

Adam Cochran (Cinneamhain Ventures partner) noted that launching an Optimism fork “made no sense” since there were other options that could address the BNB Chain’s scaling issues.

According to him, these options include joining Optimism as a “superchain,” or becoming a layer-2 directly on Ethereum, or even a layer-3 on Optimism or Arbitrum.

Maybe he has a point 🤔

Either way, opBNB is already here!

🧱 Around The Block: UK moves forward on Financial Markets Bill for Potential Regulation of Crypto.

• ♟️ ASX Survey: 31% of young Aussies hold crypto despite being ‘risk averse’.

• 📰 Crypto Regulation: UK government moves forward on financial markets bill for potential regulation of crypto.

• 📑 Withdrawals: Crypto lender Delio to resume withdrawals after counterparty contagion.

• 🛑 Crypto Outflow: Crypto investment products experience outflows for the 9th consecutive week.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.