The Daily Modern Market Snapshot: Mon 19 May

Majors: BTC 103k; ETH 2.4k; SOL 160

Headlines

- BTC runs to $106K before sharp pull back to $102K

- Trump's tax bill progresses which is estimated to add around $4 trillion to deficits over a decade; Moody downgrade US credit rating; Bessent signals debt to increase whilst trying to maximise US GDP; US Treasury yields rise; Japan's 40 year bond yield just hit highest level in 20 years

Notable PA

- ETH down 4% on the day back to $2.4K, SOL down 5% to $161; HYPE down 3% to $26

- Memes are red across the board: FARTCOIN -5% to $1.21; MOODENG - 6% to $0.23

- LAUNCHCOIN down 15% to 210M, holding around 200M quite strongly the last few days

- VIRTUALS shows strength against everything else: up 3% to $1.84

Notable Sales

- CryptoPunk, Zombie - 440 ETH

- Other World, Prophets - 16 ETH

- CryptoPunk, Shades - 54.5 ETH

- Refik Anadol, WOT - 8.99 ETH

Web 3 Round Up

- Japanese investment firm Metaplanet buys another 1004 BTC for around $104M: total holdings up to around $806M

- El Salvador President Nayib Bukele shares screenshot of $357M in unrealised profit on BTC buys

- US Senate to vote on stablecoin regulation with the GENIUS Act as soon as today

More News

- ARBUS agent settles around $12M after being launched on Virtuals: more than 50x for virgen points spenders

- Token Works minted 256 NFTs for 1 ETH each raising 256 ETH: a studio to fund creators vesting over time instead of immediate transfer of funds

Social Crypto

- PT-sKAITIO has risen to 44% as market is bidding YT on Pendle: Kaito Founder Yu Hu shares thought that people are waking up to 'earn and drop' season for sKAITO holders

- KAITO shows strength against rest of market +10% to $1.92

- Openledger announces reward month of Yaptopus: ranks 1-25 will share $15k pool; also a specific similar pool for Chinese region

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