Introduction:
1. Trump Media & Technology Group acknowledged the report about its financing of $3 billion for the purchase of Bitcoin and other cryptocurrencies.
2. Hyperliquid indicates that the total value of open contracts is $10.1 billion; hype's market cap exceeds SUI.
3. The official bn has released a summary of bn alpha, with the bn wallet accounting for over 95% of mainstream wallet trading volume. There is a 10% chance of landing on the main site after going live with bn alpha.
4. ibrl has entered deflation mode; toly continues to support the time.fun platform.
5. Personal viewpoint: The $COLLAT focusing on RWA concept will not be the next ai16z in the RWA space.
1. Macroeconomic market.
(1) Traditional markets.
1. Yesterday was Memorial Day, and US stocks were closed.
2. DXY continues to fall to 98.8 (yesterday mentioned Goldman Sachs estimates that the RMB will appreciate, and the USD to RMB will drop to 7).
(2) Policy trends.
1. The Federal Reserve is likely to lower interest rates, which is expected to happen in September.
(3) Trump Company dynamics.
1. Trump family-controlled Trump Media & Technology Group (TMTG) plans to raise about $3 billion to invest in Bitcoin and other cryptocurrencies.
2. Trump Media & Technology Group, the operating company of former President Trump's Truth Social platform, denied reports about its plans to raise $3 billion through a combination of stock and convertible bonds to purchase Bitcoin and other cryptocurrencies.
3. According to the updated data from (Forbes) in March, Trump's net worth is $5.1 billion, which is a full $1.2 billion higher than the same period last year, setting a historical record high.
Among them, Truth Social's parent company Trump Media & Technology Group is valued at $2.6 billion, Trump's real estate investments are valued at $1.1 billion, Trump's golf clubs and resorts are valued at $1.1 billion, and liquid assets worth $770 million.
2. Market review.
1. Market data: BTC's market capitalization share continues to rise, currently at 64.32%.
2. Stablecoin outflow of $155 million.
6. Institutional dynamics.
(1) Strategy again increased its holdings by 4,020 BTC, with an average price of $106,237.
So far this year, the company's BTC investment annualized return has reached 16.8%. The total holding now stands at 580,250 BTC, with a cumulative investment of about $40.61 billion and an average cost of $69,979.
3. Industry hotspots.
1. Exchange actions.
(1) Hyperliquid states that multiple data on the platform have again set historical highs.
Total value of open contracts: $10.1 billion;
24-hour fee income: $5.6 million;
USDC locked amount: $3.5 billion.
[Thought: This data is very alarming, the open contracts are 50 times that of backpack, HYPE's market cap surpasses SUI, ranking 13th in cryptocurrency market cap.]
(2) Binance launched the innovative 'Trading Live' feature on Binance Square, allowing users to watch creators and experienced traders live-stream trading, thus enhancing their understanding and confidence in the cryptocurrency market. The main highlights of real-time trading.
(3) Gate officially launched the Alpha web version on May 26, allowing users to log in to the official website Gate.com from the PC side, enter the Alpha page, and complete token transactions. You can use USDT in the spot account to directly purchase on-chain popular assets.
[Will follow up to see if there are any special activities]
2. Hot spots.
(1) Shaw, the founder of ai16z, purchased a total of $8,653 worth of 3.3875 million FARM2 in two transactions.
On-chain data shows that Shaw's public wallet has purchased FARM2 in 5 transactions totaling 10.04 million units in the past 7 days.
Public information shows that FARM2, as the only token issued under the real-name system by Shaw, has received multiple supports from Shaw in terms of funds and technology. It is reported that the FARM2 community is developing an AI digital metaverse and has achieved the instant dialogue function of AI agents in the metaverse for the first time.
(2) CA ranks second in total trading volume across the network at USD1, with FDV briefly exceeding $20 million, currently reported at $18.1 million.
Caila is supported by the US National Weather Service and is the first AI+MCP type project built on BSC with USD1.
4. Alpha.
1. ibrl update, detailed investigation analysis released on Wednesday.
2. [Personal analysis] The $COLLAT, which focuses on the RWA concept, surged, breaking through a market cap of $88 million. Is it the next RWA version of ai16z? Prices surged, breaking through $1 billion and $2 billion?
https://x.com/Westbro04829652/status/1926819012446454253
3. The official bn released a summary of bn alpha.
(1) The data looks very good, consuming over 95% of mainstream wallet trading volume.
On May 19, 2025, the daily on-chain transaction volume reached $5 billion, accounting for 95.3% of the total transaction volume of 12 mainstream wallets.
(2) After the project party goes live with bn alpha, there is a 10% chance of landing on the main site.
Since launching on December 2024, 18 Alpha recommended tokens have landed on the Binance spot market (accounting for 43% of newly launched tokens during the same period), and 10% of Alpha projects were eventually included by Binance Exchange.
(3) User returns are very high.
On May 2025, the cumulative per capita income from the airdrop reached $1,076 (based on the closing price on the first day).
(4) Generated ecological synergy effects.
Encouraging user activity through Alpha Points, feeding back into the exchange's liquidity, and forming a positive cycle of 'user growth - project settlement - trading volume increase.'
4. After the whales made crazy orders, they boosted the moonpig meme coin.
5. There are rumors about linea inquiry.
6. toly continues to make calls for the time.fun platform.
