Daily market update (June 5, 2025, 21:35)
ChainDD's data on June 5 shows that the comprehensive DD index and CoinMarketCap quotes:
BTC is quoted at $105,720.74, with a 24-hour increase of approximately 0.46%;
ETH is quoted at $2,627.16, with a 24-hour increase of approximately 1.43%;
BNB is quoted at $663.12, with a 24-hour increase of approximately 0.64%;
DOGE is quoted at $0.1917, with a 24-hour decrease of approximately 0.60%;
SOL is quoted at $153.94, with a 24-hour decrease of approximately 1.35%.
Crypto Market Dynamics
CKpool: Independent miners who packaged blocks received a reward of 3.151 BTC by leasing computing power to complete mining.
CKpool developers stated that this morning an independent miner successfully packaged block 899,826 to receive a block reward of 3.151 BTC (approximately $330,000) using CKpool's standalone mining software. The miner temporarily increased their hash rate from 6.11 PH/s weekly to 261 PH/s with a probability of approximately 1/3050 (when the total network hash rate was 796 EH/s) to complete the mining, marking CKpool's 300th block mined by an independent miner, a similar case also occurred in April 2024.
Cobo's Vice President of Custody: Singapore releases regulatory guidelines for crypto service institutions, related regulations will take effect on June 30.
Cobo's Vice President of Custody, alexzuo, stated that Singapore's MAS released the final guidelines under the (Financial Services and Markets Act) (FSMA) for the DTSP regulatory framework, which will take effect on June 30, 2025. Non-compliant DTSPs must cease operations immediately. DTSP refers to institutions providing token trading, transfer, custody, and other services to overseas clients in Singapore. However, those already holding PSA/SFA/FAA licenses or exempted do not need to apply for a new DTSP license but must still meet new obligations, such as stricter technical risk management, annual audits, and reporting significant security incidents within one hour. MAS emphasizes the shift from 'licensing' to 'compliance' and implements tiered regulation for stablecoins.
Viewpoint: Traditional capital markets are eager for more native Web3 enterprises, making Backpack the next potential target.
Circle is about to go public on Nasdaq. As a Web3 native enterprise centered around USDC issuance, it marks another milestone in successfully entering the mainstream capital market in the U.S., following a few companies like Coinbase. Industry insiders point out that there is a huge demand from traditional capital markets for exposure to the cryptocurrency sector; however, Web3 native enterprises that meet compliance requirements, can be effectively valued, and are available for public trading are still scarce.
In this context, Backpack is seen as a strong candidate approaching acceptance structures in the U.S. capital markets. The appeal of Backpack lies not only in its innovative product matrix but also in its comprehensive layout in compliance awareness, entity registration, and product stratification.
Market views suggest that Backpack has demonstrated immense potential to become the 'retail financial platform' of the Web3 era. Its rapid momentum in user growth and its structural state that is understandable to traditional financial markets make it a compelling potential target for Wall Street when seeking measurable and valuated crypto companies.
