📊 Daily Crypto Market Update 📊

1. Market Overview

- Global Market Cap: 3.63 (previously 3.48T) via Coingecko

- Top Movers: WLD, JUP, HYPE, FET, INJ, WIF, APT

2. Altcoin Market Trends 📈

- Alts had an amazing run today with Worldcoin leading the way, signaling the upcoming "AI Summer", and ETH breaking above its 50 week EMA at 2600 (we just need to wait for the weekly close). We also had HYPE near the top gainers with its recent HyperEVM launch which is causing a lot of attention for the chain. Needless to say, alts are starting to outshine BTC as BTC.D starts to decline. Now it's just a matter of time before we see the rest of the alts follow suit.

3. Key News Headlines 📰

- Regulatory Updates: JPMorgan, Bank of America, Wells Fargo, Citigroup and other major US banks explore creating a joint crypto stablecoin.

- Partnerships or Integrations: Kraken to offer tokenized US stocks to users worldwide.

- Major Developments: Cetus Protocol, the largest decentralized exchange (DEX) and liquidity provider on the Sui blockchain, was exploited in a hack that drained between $200 million and $260 million worth of tokens. Although Sui validators froze approximately $160–162 million of the stolen funds while reaffirming the Sui blockchain's core infrastructure was not affected.

4. Upcoming Events ⏩

- May 27th-29th Bitcoin Conference, Las Vegas

- May 30th FTX starts $11.4B of creditor payouts

5. Summary ✍️

There was a lot of hype today around the Trump dinner with Tron CEO Justin Sun securing the top spot and giving a speech at the gathering. Trump also stated that the US is "dominating" in Bitcoin and crypto, "and we are going to keep it that way." This, combined with continued institutional adoption, shows crypto is quickly reaching escape velocity. During these major runs, the trend is your friend. So look for strong performers and DCA them at major support levels on any retracement.