The global cryptocurrency market cap today stands at $3.43 trillion, reflecting a 2.6% increase over the last 24 hours. Total cryptocurrency trading volume in the past day is $93.4 billion.
Top Movers of the Day
🟢 $SPX +8.6% — SPX6900 has experienced a significant price surge, currently trading at $1.20. The token’s circulating supply is approximately 930 million, with a max supply of 1 billion.
🔴 $FARTCOIN -10% — $FARTCOIN has declined, aligning with the broader market downturn. It is currently priced at $0.00022823, with an intraday high of $0.00027001 and a low of $0.00022368.
Bitcoin News
🔸Senator Cynthia Lummis revealed that certain divisions within the American military, particularly generals based in Southeast Asia, support the idea of a national Bitcoin reserve to address economic threats from China.
🔸Large Bitcoin holders have been steadily taking profits after the cryptocurrency recently hit a new peak. The supply held by whale entities has declined by 40% over the past eight years.
🔸According to Sygnum Bank, Bitcoin’s liquid supply has fallen 30% in 18 months due to institutional adoption and the rise of Bitcoin acquisition vehicles.
🔸Standard Chartered reports that 61 publicly listed firms now hold a combined 3.2% of all Bitcoin that will ever exist. These companies have collectively doubled their BTC holdings in the past two months.
🔸K Wave Media announced a $500 million securities deal to fund a Bitcoin-centric crypto treasury strategy, aiming to become the “Metaplanet of Korea.” The company’s stock has surged 162% on Nasdaq following this announcement.
CEXs and DEXs News
🔸Coinbase has requested that a securities lawsuit from Oregon’s attorney general be heard in federal court, arguing that it is a copy of a prior SEC lawsuit and exceeds the state’s authority.
🔸Binance has identified and restricted the use of bots exploiting its Alpha Points early-access program. The exchange has upgraded its risk control systems to enhance detection and handling of such behavior.
🔸India-focused crypto exchange WazirX is relocating operations to Panama and rebranding its parent company as Zensui. This move follows Singapore’s central bank setting a deadline for local crypto service providers to stop offering digital token services to overseas markets.
🔸Bybit has implemented a comprehensive security overhaul following its $1.4 billion hack in February. The exchange completed nine security audits, introduced enhanced cold wallet protocols.
Legal and Regulatory News
🔸Pakistan’s minister of state for crypto and blockchain met with Trump’s digital asset leadership to promote cross-border cooperation and outline Bitcoin-powered infrastructure plans, including the launch of a Strategic Bitcoin Reserve.
🔸SEC Chair Paul Atkins stated that the agency will hone its crypto policies through “notice and comment” rulemaking, moving away from shaping rules through the courts.
🔸South Korea has elected Lee Jae-myung, a pro-crypto candidate, as president. His administration is expected to support the growth of the crypto industry in the country.
🔸The California Assembly has passed a bill that would allow state agencies to accept cryptocurrency payments, signaling a move towards broader adoption of digital assets in government transactions.
Blockchain and Stablecoin News
🔸According to Moody’s, tokenized funds are scaling rapidly, reaching $5.7 billion. This growth is driven by increased interest in real-world asset tokenization and the benefits of blockchain technology in fund management.
🔸A memecoin associated with former President Trump has caused confusion, as his family was reportedly unaware of its launch. The situation highlights the challenges of unauthorized token launches and the importance of clear communication.
🔸Rumors have surfaced regarding a $1 billion sale and airdrop associated with the PumpFun token. The speculation has led to increased interest and volatility in the token’s market.
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