📊 Daily Crypto Market Update 📊
1. Market Overview
- Global Market Cap: 3.43 (previously 3.46T) via Coingecko
- Top Movers: $BCH, $XMR, $TRX, $AB, $XRP, $BNB
2. Altcoin Market Trends 📈
- Alts continue to chop as war tensions show very little progress. There's been some outperformance with BCH as people look for a hedge to BTC's movement. We do have the crypto stablecoin bill passing today which should open the door for more ETH adoption in the future. Onchain data still shows ETH leading the way with SOL coming in second. The recent suspension of mulitple X accounts (including Pumpfun and Alon), along with many others, are also creating tensions for the SOL eco as X cracks down on accounts that use illegal API backdoor data. This is why it pays to diversify and never be too overexposed to one ecosystem. Bet on strength and spread your capital accordingly.
3. Key News Headlines 📰
- Regulatory Updates: The U.S. is moving closer to passing the GENIUS Act and CLARITY Act—two landmark crypto bills. The GENIUS Act aims to regulate payment stablecoins with bipartisan support. The CLARITY Act designates the CFTC as the main crypto regulator, resolving years of legal ambiguity.
- Partnerships or Integrations: KuCoin Pay and Cryptorefills Partner to Unlock Global Travel with Crypto
- Major Developments: Trump says "I have not reached out to Iran for Peace Talks in any way, shape, or form. If they want to talk, they know how to reach me. They should have taken the deal that was on the table."
4. Upcoming Events ⏩
- June 17th GENIUS stablecoin bill headed to the final vote in the US Senate
- June 18th FOMC
5. Summary ✍️
The market continues to chop as Israel and Iran show no resolution. Although Trump mentioned earlier today that VP JD Vance and Steve Witkoff negotiate a nuclear deal & ceasefire with the Iran Foreign Minister. Hopefully we get some positive resolution out of this but both sides are playing hardball. During this chop, you want to be very careful with leverage. Historically these have been great buying opportunities.#crypto
