Introduction:
1. Due to tariff points and the passage of the Beautiful Bill, the market may experience significant turmoil at the end of June and early July.
2. Stablecoins saw a significant inflow of 690 million, with USDT inflow of 164 million and USDC inflow of 503 million.
3. The recent ETF trend has changed to: BTC ETF outflow, ETH ETF inflow.
4. Pumpfun is conducting a public offering, raising $1 billion at a 4-5 billion FDV.
5. Magic Eden stated that it is working with the team behind the Trump meme coin to launch a wallet, but this was later denied by Trump's eldest son.
6. Japan's version of MicroStrategy, Metaplanet, ranks first in trading volume on the Japanese stock market.
1. Macro Market
(1) Traditional Market
1. US Stock Market: The Nasdaq rose by 0.81%, the S&P rose by 0.58%, and the Dow rose by 0.51%, with Nvidia up by 2.8%.
2. US Dollar: The US Dollar Index rebounded to 99.26
3. Gold: Gold at 3351, fluctuating at a high level
The market may experience significant turmoil at the end of June and early July: the 90-day tariff suspension will end on July 9, and Trump hopes to obtain the budget for the 'Great Beautiful Bill' from the Senate before July 4.
(2) Policy Trends
1. News related to the SEC.
[It feels like this discussion paves the way for ETH staking ETF] The SEC's crypto special team has held talks with CoinShares and its legal advisor Chapman & Cutler LLP, discussing the regulatory challenges faced in launching crypto asset exchange-traded products (ETP) in the US.
It is reported that the topics discussed at the meeting included: how to integrate staking mechanisms within the ETP structure, reviewing appropriate standards for new digital asset ETP rule change applications, issues of crypto asset custody, comparisons of physical and cash redemption mechanisms, and the feasibility of registered investment companies investing in digital asset ETPs.
2. Musk criticizes the Beautiful Bill, tearing up with Trump.
Original statement: Sorry, I just can't take it anymore. This massive, ridiculous, politically manipulated congressional spending bill is truly nauseating. Those who voted for this bill are shameful: you know you did wrong. You know it in your heart.” Musk continued: “This will significantly increase the already huge budget deficit to 2.5 trillion dollars.
2. Market Review
1. Market Data:
BTC market capitalization accounts for 64.18%
2. Stablecoin data: Stablecoins saw a significant inflow of 690 million, with USDT inflow of 164 million and USDC inflow of 503 million.
3. ETF Data: On May 2, BTC outflow was 267 million, ETH inflow was 78.2 million.
4. Institutional Dynamics
(1) The CEO of Meitu responded to the company's 'crypto purchasing past': All sold off for a profit of 570 million yuan, 80% of the earnings have been distributed as dividends.
(2) Nasdaq-listed DeFi Development Corp (stock code: DFDV) disclosed that it held 621,313 SOL by the end of May, an increase of +96% from 317,273 SOL in April, with a holding value of 97.2 million USD.
3. Industry Hotspots
1. Pumpfun public offering
(1)
(2) Sources say Pumpfun is raising $1 billion at a 4 billion FDV public offering.
2. The storm of the TRUMP wallet.
(1) Magic Eden stated on Tuesday that they are working with the team behind the Trump meme coin and other projects to launch a digital wallet and trading application named after the Trump brand.
(2) Subsequently, Trump's eldest son stated that the newly launched TRUMP wallet is not associated with the Trump organization, and WLFI will launch the official wallet.
(3) Magic Eden responded that the application is indeed the official TRUMP wallet, using Trump's official brand and intellectual property. Magic Eden has previously supported the NFT release of the TRUMP project and is currently collaborating with the project to promote a larger TRUMP wallet development plan.
Interesting, according to Trump's usual style, the next time he should come out and admit this matter, WLFI announced that the Trump wallet has been adopted as the official wallet, acquiring the product and team. Let the ME token explode in both directions.
3. Japan's version of MicroStrategy, Metaplanet, has ranked first in trading volume on the Japanese stock market.
· Trading value reached 222 billion yen (approximately 1.51 billion USD).
· The number of shares traded reached 170 million.
4. Alpha
1. It is said that the Backpack event has higher returns, preparing to start researching the Backpack event.
Other Perspectives
2. Discord's meme coin, could it be the next Dogs?
Specific content: https://x.com/xiaopin30256770/status/1929898911474561141
3. KOL trading insights, must-read.
https://x.com/DtDt666/status/1929859396395315348
4. [Thinking: Consensys has had more news recently, it feels like Linea may indeed be launching a token] Consensys founder and Ethereum co-founder Joseph Lubin posted on social media stating, 'Just as the internet changed the way information is transmitted, Ethereum is bringing about the same transformation for value realization: it provides a shared, open, programmable currency standard. Ethereum is the global settlement layer, running uninterrupted every 12 seconds for nearly a decade, year-round, without error. Last year alone, it settled over $25 trillion in value.'
Two informed sources revealed that
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Sources added that the tokens will be sold to both public and private investors. It has not yet been confirmed when the tokens will go live or whether they will be issued on the pump.fun platform. A post on Twitter hinted that the tokens might be issued in the next two weeks.