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Token holders await US Inflation data for signals, today

Token holders await US Inflation data for signals, today

May 31, 2024

Hot projects + Market overview

I. Mainstream exchange news

  • Binance Futures will launch TURBO 1-50x USDT perpetual contract.
  • Binance France chief says spot Bitcoin ETF will enable TradFi to invest in Bitcoin.
  • Coinbase adds Bonk, FLOKI, and SHIB perpetual futures contracts.
  • eToro will remove STARL and XEC spot trading pairs on June 6th.
  • Upbit will list Stargate Finance (STG) Korean Won trading pair.
  • OKX Jumpstart will launch ULTI (Ultiverse).
  • The University of Austin to raise $5 million worth of Bitcoin for endowment.
  • Aptos is integrating Chainlink's CCIP and Data Sources to facilitate dApp development.
  • Pudgy Penguins will launch a mobile game in 2025.
  • Deadline for ETH spot ETF issuers S-1 Form is today, says the US SEC.
  • Grayscale submits a revised registration statement for the Ethereum spot ETF.
  • LayerZero adds Solana to its cross-chain bridge network.
  • a16z donates additional $25 million to US crypto political action committee Fairshake.
  • Terraform Labs and Do Kwon reached a preliminary settlement with the US SEC on a fraud case.
  • Arweave AO plans to issue AO token, tokenomics to be released on June 13th.
  • Hyperliquid starts the L1 score season, distributing 700,000 points per week in the next 4 months.
  •'s monthly income surpasses Uniswap Labs, becoming the fourth-largest protocol in the Blockchain network.

III. Funding news

  • Bitcoin lending project Babylon raised $70 million, in a funding round led by Paradigm.
  • Chain game project Zentry received strategic funds from Spartan, LongHash, Synergis, and DWF Labs.
  • Decentralized social networking Neynar raised  $11 million in Series A, led by Haun Ventures.
  • Worldcoin extended the loan agreement of 10 million WLD for five entities.
  • Decentralized computing protocol Arpa Network raised $6 million in strategic funding, participated by Animoca Ventures.
  • Chain game Kuroro Beasts raised $2.5 million in strategic funding, led by Animoca Brands.

IV. Regulatory news

  • NYDFS' requires crypto firms to raise customer service standards.

Market Overview

Bitcoin (BTC) has a support level at $67,222, and recent trading sessions have shown minor fluctuations between $67,000 and $69,000, suggesting potential adjustments if it falls below this threshold.

The altcoin market, including DOG, ELON, and NOT, is experiencing a bullish trend, particularly with new tokens listed on Binance and memecoins drawing considerable attention.

Keep a close watch on the US PCE inflation data set to be released on May 31st. If the inflation data is above expectations, the short-term price of BTC might be under falling pressure. Traders primary strategy is to maintain observation without chasing the highs.

BTC Spot ETF as of May 30th

Overall Data:

Total Net Inflow: $13.81 billion

Daily Net Inflow: $47.14 million

Single-Day Turnover: $1.96 billion

Proportion of BTC’s Market Value: 4.36%

Breakdown by ETF:


Single-Day Net Outflow: $0

Cumulative Net Outflow: $18 billion

Single-Day Turnover: $341 million

Net Asset Value: $19.7 billion


Single-Day Net Inflow: $119 million

Cumulative Net Inflow: $9 billion

Single-Day Turnover: $420 million

Net Asset Value: $11.31 billion


Single-Day Net Outflow: $100 million

Cumulative Net Inflow: $2 billion

Single-Day Turnover: $90.53 million

Net Asset Value: $3.25 billion

BTC gas fees soared 3-fold in a week

The BTC mainnet's gas fees have increased at 40 sats, or threefold increase from last week. 

Meanwhile, according to mempool data, the trading volume of newly minted runes has surged. FAT•WOJAK•GIRLFRIEND and COOK•THE•MEMPOOL are ganining market attention, based on their trading volumes.

A spike in the leading rune project, DOG, has triggered a rise in other rune projects. Additionally, a bounce-back in the ORDI inscription concept has further fueled ongoing trading activity in tokens like SATS and MICE.

IXS up over 26% in a day

IX Swap is a decentralized trading protocol for security tokens (STO) and tokenized stocks (TSO). It provides solutions for regulation and liquidity of security tokens and tokenized stocks. IX Swap provides liquidity pools and automated market-making functions for the STO/TSO industry. 

By tokenizing real-world assets, IX Swap provides users with opportunities to invest in private market assets, which has certain advantages in the RWA track. 

The IXS token is up over 26% in a day, currently at $0.63. ts market cap now stands at $109 million, with the majority of its liquidity being on-chain.

ELON up over 120% in in 24 hours

The core IP of the project originates from the number 69420. Elon Musk tweeted this number (Born 69 days, after 4/20) on March 3rd. Furthermore, Musk opted to tweet this particular number when the user activity for Starlink surpassed 69,420, and he also announced price cuts for Model S to $69,420 on various occasions.

This number is of importance to Musk. The starting digits of ELON's contract addresses are 0x69420, a rather rare occurrence. 

The ELON token is up over 120% in a day. It currently has a market value of $27.4 million, an on-chain liquidity of $2 million, and a trading volume exceeding $10 million in the past 24 hours.

On-chain Daily

  1. Marv:Marv is characterized as a somewhat racist, fashion-loving Pepe.

Current Price: $0.0(8)361 

Historical High: $0.0(8)712

24-hour Change: +269%

Current Market Value: $1.5M

  1. FREETRUMP:  former US President Trump is convicted on 34 felony charges, which makes him the first convicted president in US history. In response to this, the community has issued memecoins supporting Trump's innocence.

Current Price: $0.0(8)572 

Historical high: $0.0(8)661

3-hour Change: +142%

Token Launch Time: 5/30 21:20 UTC

Current Market Value: $2.4M

  1. JJ: JJ pictures a frequently seen emoji in Discord.

Current Price: $0.0(7)414 

Historical high: $0.0(7)579

24-hour Change: +111%

Current Market Value: $17.4M

  1. SOLANA: SOLANA is a memecoin on the Solana blockchain. Its full name is CatFrogDogShark, combining characteristics of these three animals.

Current Price: $0.0183 

Historical High: $0.0208

24-hour Change: +27.8%

Current Market Value: $17.6M

  1. STACKS: STACKS is a token from the GameFi project SlapCity on the Solana chain. SlapCity is an open-world game notable for its token-currency exchange feature.

Current Price: $0.008 

Historical High: $0.01

24-hour Change: +35%

Current Market Value: $8M

  1. SKOP: SKOP is a memecoin on the Base network. Its full name is Skulls of Pepe Art, and is designed by 3D artist Jagged. It gained quick attention during its presale due to its high liquidity at launch.

Current Price: $0.0266 

Historical High: $0.0972

6-hour Change: -37%

Token Launch Time: 5/30 7:00 UTC

Current Market Value: $4M

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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