Crypto Market Update – May 31, 2025
Here are the top developments shaking up the crypto world today:
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1. SEC Dismisses Lawsuit Against Binance
In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has officially dismissed its long-standing case against Binance. This move signals a shift towards clearer regulatory frameworks in the U.S. crypto industry.
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2. Ethereum Breaks Out of Downtrend
Ethereum has broken out of its falling channel, turning key resistance into support around $2,350–$2,400. The price is now eyeing the next resistance level.
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3. Bitcoin Supply on Exchanges Hits Record Low
The supply of Bitcoin on major exchanges has dropped to a historic low of 2.2 million BTC. This could indicate a bullish trend as more investors move their holdings off exchanges.
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4. XRP Listed on Hashkey Exchange
Hashkey Exchange has listed XRP, expanding its accessibility to professional investors and strengthening its position in the digital economy.
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5. Binance Alpha Lists Taiko (TAIKO) with Airdrop
Binance Alpha has officially listed Taiko (TAIKO), an open-source, Ethereum-equivalent ZK-rollup. Eligible users holding at least 205 Alpha Points can claim an exclusive airdrop of 130 TAIKO tokens starting May 31 at 14:00 (UTC+8).
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Stay informed and make the most of these developments!
