On June 4, Bitcoin (BTC) continued to maintain a narrow range of fluctuations, while ETH performed relatively strongly; yesterday, Ethereum (ETH) ETF saw a net inflow of $109 million, with a total inflow of $744 million over the past 12 trading days; altcoins showed mixed performance, lacking a collective narrative; HYPE has risen by 84.56% in the past month, just a step away from its historical high in dollars; Falcon Finance's stablecoin supply has surpassed $500 million, and it may launch a governance token in the future.
Cryptocurrency Market Overview
As of June 4, 12:00 AM (UTC+8), the spot price of gold is reported at $3,367.42 per ounce, with a 24-hour increase of 0.39%.
Mining Popular Tokens
ME Magic Eden (+24.92%, circulating market cap $325 million)
According to Gate's market data, ME is currently priced at $1.068, with a 24-hour increase of 24.92%, leading the altcoin market. ME's current circulating market cap is $325 million, ranking 178th in the entire market.
This morning, Magic Eden officially announced its collaboration with the TRUMP Meme coin to launch a TRUMP cryptocurrency wallet, a message confirmed by the official TRUMP Meme coin account on X. ME surged over 30%, reaching a short-term price peak of $1.16.
Subsequently, Donald Trump Jr., co-founder of WLFI, clarified in a post that "the Trump Organization has no association with this wallet product (developed in collaboration with Magic Eden and TRUMP Meme). Eric Trump and I are unaware of this. Please continue to follow the World Liberty Financial team, which is working hard to launch our official wallet soon." Following this news, ME briefly fell over 10%.
As of the time of writing, there are no further updates regarding Magic Eden or the Trump cryptocurrency team.
ANIME Animecoin (+13.35%, circulating market cap $175 million)
According to Gate's market data, the ANIME token is currently priced at $0.308, with a 24-hour increase of 13.35%, having risen for four consecutive days. ANIME's current circulating market cap is $175 million, ranking 262nd in the entire market.
Animecoin is a cryptocurrency project focused on anime culture and creator economy, aiming to support anime content creation, distribution, and fan interaction through blockchain technology. Its ecosystem typically includes an NFT marketplace, a decentralized funding platform, and community-driven creative incentive mechanisms, encouraging direct connections between anime artists and fans. The ANIME token is used in the ecosystem for payments, tips, governance voting, etc., helping creators monetize their content and enhance user engagement. Upon its launch, ANIME airdropped a large number of tokens to the established NFT project Azuki.
The future performance of the ANIME token will depend on the development of the Animecoin ecosystem, user growth, and the degree of integration with the anime industry. If the project can continue to attract quality creators and launch appealing NFT or content platforms, ANIME is expected to secure a place in the Web3 ACG track. Additionally, as interest in Web3 content platforms rises in Japan and Asia, Animecoin may gain broader recognition and liquidity if it can combine IP collaborations or cross-industry marketing.
HYPE Hyperliquid (+2.64%, circulating market cap $12.34 billion)
According to Gate's market data, the HYPE token is currently priced at $36.92, with a 24-hour increase of 2.64%, just a step away from its historical high of $39.7. HYPE has risen by 84.56% in the past month, performing the best among the top 50 tokens by market cap. HYPE's current circulating market cap is $12.34 billion, ranking 11th in the entire market. According to Defillama data, Hyperliquid's trading volume in the past 30 days reached $246.1 billion, accounting for about 65% of the total market trading volume during the same period.
According to an official announcement, 100% of Hyperliquid platform's revenue is used to buy back and burn HYPE, creating a closed loop of increasing trading volume, enhanced buyback efforts, and improved token scarcity. The current high-activity trading ecosystem is accelerating this cycle, and if the momentum continues, the amount of HYPE burned is expected to reach a historical peak, becoming a key driving force for breaking through previous highs.
Current data indicates that Hyperliquid's leading position and economic mechanism have formed a self-reinforcing flywheel. Short-term value is driven by buyback intensity, while mid-to-long-term value is anchored to ecological penetration capability. If the current growth inertia is maintained, HYPE may enter the top 10 by market cap in the entire market.
Alpha Interpretation
Pump.fun may conduct a $1 billion token sale
According to Blockworks, two insiders revealed that Pump.fun plans to raise $1 billion through a token sale. The sources indicated that the valuation for this token issuance will reach $4 billion. They added that the tokens will be sold to both public and private investors. Blockworks has not yet confirmed when the tokens will specifically launch or whether they will be issued on the Pump.fun platform. However, a post on X hinted that the tokens might be issued in the next two weeks.
If the valuation reaches $4 billion, Pump.fun will become the latest "unicorn" startup in the cryptocurrency space, significantly contributing to the meme coin craze over the past year. Currently, Pump.fun has not responded to this.
As a key platform driving the meme coin craze over the past year, the issuance of tokens by Pump.fun is not only topical but also possesses strong market appeal. Once the token issuance news is confirmed, it is bound to quickly attract market attention, especially in a highly speculative environment, where a large amount of capital may flow from other projects into this one, seeking short-term arbitrage opportunities. In the current liquidity-sensitive market environment, the issuance of tokens by Pump.fun is likely to become a core event for the next round of capital accumulation, potentially triggering a "drainage effect" and putting pressure on small and medium-sized projects.
Falcon Finance's stablecoin supply surpasses $500 million
According to official news, the synthetic dollar protocol Falcon Finance announced that the total supply of its synthetic dollar USDf has surpassed $500 million. As Falcon approaches full public testing, the market demand for this multifunctional asset continues to grow. According to Falcon Finance's official website, the total supply of USDf, pegged to the dollar, has exceeded $529 million, with a current TVL reported at $589 million.
Falcon Finance demonstrates strong growth momentum and a clear value proposition. Users can over-collateralize BTC, ETH, and stablecoins to generate USDf, which can further be staked as an interest-bearing token sUSDf, with a current annual yield close to 10%. Its sources of income include funding rate arbitrage and cross-exchange price difference arbitrage. Additionally, market news suggests that Falcon Finance may launch a governance token in the future, which is expected to incentivize more market users to participate deeply.
Falcon's revenue model relies on market arbitrage opportunities. If market volatility decreases or similar protocols increase, it may lead to a narrowing of profit margins. Meanwhile, the current global regulatory details for stablecoins have not yet fully materialized. If, as suggested in the U.S., reserve assets are concentrated in government bonds, it may limit Falcon's current strategy of emphasizing collateral diversity. In summary, with high yields and compliant operations, Falcon is expected to expand its user base during the public testing phase; however, in the mid-to-long term, its success will depend on the impact of regulatory policies on the collateral model and whether multi-chain deployment can effectively expand its market footprint.
Related: Trump Meme coin wallet in "absolute chaos," family organization claims ignorance
Original: “Pump.fun may launch a $1 billion token sale | HYPE surges over 80% in the past 30 days”
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