ETH awaits a decisive breakthrough above $3,800.

ETH awaits a decisive breakthrough above $3,800.

May 30, 2024

Hot projects + Market overview

I. Mainstream exchange news

  • Coinbase, Circle, and Kraken join the cyber threat protection group Crypto ISAC.
  • Upbit will list Bounce Token (AUCTION).
  • Ethereum ETFs were approved because crypto is an election issue, says Cathy Wood.
  • Galxe will launch L1 blockchain Gravity designed for mass adoption and omnichain future.
  • Biden’s camp reaches out to key figures in the crypto industry.
  • Argentine President met with Sam Altman to discuss Worldcoin investment in South America. 
  • BlackRock's updated S-1 for Ethereum ETF states that 400,000 shares were conditionally sold to seed investors for $25 per share.
  • Fantom launches Opera upgrade, with 2,000 transactions per second speed.
  • $2 million worth of DOGE call options were bought by a single trader.
  • Bitcoin mining company Ocean Mining sets El Salvador as its global headquarters.
  • NEAR Foundation launches *NEAR domain token, a multi-chain, cross-platform digital identity for Web3.
  • Mastercard Crypto Certificates launches their first batch of peer-to-peer transactions.

III. Funding news

  • RWA tokenization platform Fortunafi raised $9.51 million.
  • Web3 AI and gaming company PlayAI raised $4.3 million from a seed round.
  • Blockchain node management platform NodeOps raised $5 million from a seed round.
  • Crypto asset financial service provider SCRYPT raised $5 million in a strategic funding round.
  • Oracle project API3 raised $4 million from a strategic round led by DWF Labs.
  • Modular computational power layer and ZK-RaaS platform Lumoz raised fresh funds.
  • Stablecoin project defi.money raised funds from a strategic round.

IV. Regulatory news

  • The US House Financial Services Digital Assets Subcommittee will discuss RWA on June 5th.
  • NYSE President Lynn Martin is open to crypto trading if the US regulation is clear.
  • The US Treasury has no intention to ban cryptocurrency mixing services, says a US Treasury Department official.
  • Nigerian officials refuse to send their captive Binance executive to the hospital for malaria treatment, amid court orders.
  • The US Treasury Department will release an NFT risk assessment.

V. Popular projects 

Market overview

On May 29, BTC reached a low of $67,124. It declined in the evening (UTC+8 timezone) and gradually recovered during the day. Analyzing the K-line pattern, BTC has established a significant daily support level of around $67,000. A breach below this threshold in the short term may prompt additional adjustments.

Meanwhile, ETH encountered heightened volatility and a downward trajectory. A strong breakthrough above $3,800 is essential to initiate an uptrend.

BTC spot ETF as of May 29th

Overall Data

Total net inflow: $13.74 billion

Daily net inflow: $3.76 million

Single-day turnover: $584 million

Proportion in BTC’s market value: 4.33%

Breakdown by ETF:

GBTC

Single-day net outflow: $31 million

Cumulative net outflow: $1.8 billion

Single-day turnover: $256 million

Net asset value: $19.28 billion

FBTC

Single-day net inflow: $18 million

Cumulative net inflow: $9 billion

Single-day turnover: $221 million

Net asset value: $10.94 billion

ARKB

Single-day net inflow: $4 million

Cumulative net inflow: $3 billion

Single-day turnover: $62.88 million

Net asset value: $3.28 billion

Bitcoin Wizards up 60% in a day

The Bitcoin Wizards, a notable figure in the BTC ecosystem, came into existence in February 2013 from a Bitcoin community on Reddit. An image of a white-robed wizard captioned 'Magic Internet Money,' submitted by @mavensbot, gained popularity and influenced individuals like the creator of Doge to venture into Web3. 

Recently, due to marketplace buzz around full circulation memecoins, the WZRD token soars 60% to a high of $5.07 before adjusting to $4.65. It's market cap also reached a high of $121 million.

Foxy up 25% in a day

​​Foxy,​​ as the first memecoin in the Linea ecosystem, enjoys official support. 

Its current market cap stands at $56.38 million, with a 24-hour trading volume of $49.39 million. It is now listed on major exchanges including WOO X.

Gigachad up over 30% within 24 hours 

Gigachad is a memecoin on the Solana chain, inspired by a photo of Russian bodybuilder Ernest Khalimov. Khalimov is known as 'Gigachad' due to his perfect physique and jawline. 

The token's current market cap is $34.59 million, with on-chain liquidity of $839,000. It has risen over 30% in the last 24 hours.

On-chain Daily

1.BOBBY:BOBBY represents Robert Francis Kennedy Jr., an American Presidential candidate. He has once proposed to put all of the US budget on the blockchain, allowing every American to check every budget item at any time.

Current Price: 0.000513 USDT (also historical high)

6-hour Change: +14% (Token launch time time: 5/29 10:30 UTC)

Current Market Value: $24M

2.TUZKI:Tuzki is a rapidly emerging figure in China and claims to be China's pepe.

Current Price: 0.0(5)632 USDT

Historical High: 0.0(5)733 USDT

6-hour Change: +143% (Token launch time time: 5/29 19:40 UTC)

Current Market Value: $2.6M

3.DAVIDO:Nigerian singer Davido is considered one of the most important rhythm artists in Africa in the 21st century. Davido created the DAVIDO token on pump.fun and bought 20.3% of its total supply, profiting $473,000 within 11 hours.

Current Price: 0.00249 USDT

Historical High: 0.01 USDT

6-hour Change: -70.5% (Token launch time time: 5/30 01:20 UTC)

Current Market Value: $2.5M

4.BEER:BEER is a memecoin on the Solana chain, picturing a beer with a facial expression.

Current Price: 0.000149 USDT

Historical High: 0.000184 USDT

24-hour Change: +7.3%

Current Market Value: $133M

5.PEPFAM:PEPFAM is a memecoin on the Solana chain, picturing a pink pepe family.

Current Price: 0.00148

Historical High: 0.00158

6-hour Change: +304% (Token launch time: 5/29 17:20 UTC)

Current Market Value: $1.5M

6.PILL:PILL is a memecoin on the Base chain, aims to enhance the Base ecosystem and empower the Degen community.

Current Price: 0.000716 (also historical high)

24-hour Change: +75%

Current Market Value: $716k

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.

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