Here’s a selection of the strangest and most outrageous crypto events over the last ~24 hours:
1. Litecoin surged ahead among the growth leaders (up to +9%)
Litecoin (LTC) rose by ~9% over the day, reaching a five-month high of around $121.35, outpacing even Bitcoin and Dogecoin in dynamics. Trading volumes soared by 168% to $1.68 billion, with a significant increase of large holdings and whale activity of >9%. It is suspected that this is happening against the backdrop of expectations for the approval of a spot ETF for Litecoin — even several smaller altcoins are performing better than BTC.
2. Day of liquidations: $375 million withdrawn from the market
According to CoinGlass, approximately $375 million in positions were liquidated in one day — a significant spike indicative of sharp volatility and panic.
3. CFTC's 'Crypto Sprint' and the defense of de-banking
The U.S. Commodity Futures Trading Commission (CFTC) launched the ‘Crypto Sprint’ initiative, allowing trading of spot cryptocurrencies on futures exchanges. This has sparked a storm of discussions due to potential market mixing and regulatory uncertainty. The U.S. administration is also considering a plan to impose fines on banks that refuse to service crypto companies (so-called 'de-banking').
4. The mysterious dominance of MemeCore (+25%) and the unexpected return of Ethena
MemeCore (M) tokens rose by 25% over the day, ahead of Mantle and LTC in growth rates, reflecting strong hype without obvious fundamental reasons. Ethena (ENA) also shows a significant rebound after the unlocking of $106 million in tokens, fueling concerns about liquidity in Aave and other DeFi platforms.
5. The Philippine SEC under scrutiny: warning to major exchanges
The Philippine Securities Commission issued official warnings against OKX, Bybit, and Kraken, stating that they operate without a license — a shocking precedent of interference in major international exchanges within a local jurisdiction.
6. Meta's announcement: Solana begins the rollout of Seeker smartphones
Solana unexpectedly launched sales of its Seeker smartphone in over 50 countries. A blockchain company selling gadgets — sounds like a marketing statement from the Web3 era, rather than typical crypto activity.
Additionally: the atmosphere in the media and markets
The outflow from crypto funds amounted to $223 million after 15 weeks of inflow, which is surprising against the backdrop of emerging regulatory clarity.
Base Network experienced its first downtime since 2023 — a 29-minute halt in operations attracted the attention of technical analysts.
Withdrawal
The last 24 hours have been a mix of speculative surges, regulatory innovations, and unexpected technological projects.