1. CEX Popular Cryptocurrencies
CEX Trading Volume Top 10 and 24-Hour Price Change:
- BTC: -6.96%
- ETH: -5.58%
- SOL: -8.13%
- XRP: -5.19%
- BNB: -7.49%
- NEAR: -0.99%
- ZEC: -4.39%
- WLD: +30.04%
- DOGE: -4.93%
- CHZ: -7.49%
24-Hour Price Rise Ranking (Data Source: OKX):
- WLD: +29.08%
- ENA: +18.45%
- DEGEN: +10.54%
- AR: +10.03%
- JTO: +9.15%
- MEME: +8.26%
- SPACE: +7.16%
- ZRO: +6.47%
- HYPE: +4.64%
- PARTI: +4.55%
24-Hour Cryptocurrency Stock Rise Ranking (Data Source: msx.com):
- MSTZ: +18.9%
- CONI: +14.92%
- SBIT: +9.61%
- ETHD: +9.25%
- NVDQ: +7.09%
- YANG: +6.97%
- MRNA: +6.46%
- ORBS: +5.72%
- ZSL: +4.98%
- POET: +4.7%
2. On-Chain Popular Meme Top 5 (Data Source: GMGN):
- CrazyBaby
- Everything is Fine
- Flame of Hope
- RWA LS
- Wolves Roaming the World
Headlines
US Media: How to “Compensate” Iran is One of the Sticking Points in US-Iran Negotiations
According to CNN, a US official familiar with the negotiations stated that one of the remaining key sticking points in the US-Iran talks is the issue of economic compensation, as Trump is eager to reach an agreement seen as superior to the one during the Obama administration. The official indicated that Iran has made it clear to the mediators that once the two sides agree on a preliminary memorandum of understanding, they would like to receive some form of economic compensation as soon as possible, rather than delaying it to a later time. However, officials from the Trump administration are concerned that unfreezing funds at such an early stage could lessen the economic damage inflicted on Iran—this might eliminate or at least weaken a key bargaining chip Washington has over Tehran. This chip will be crucial for the US to enter the second phase of negotiations, discussing the specific details of Iran's nuclear program. Trump has made clear to his team that he wants any agreement to appear much tougher than the one reached in 2015 and to avoid any actions that could be interpreted as “delivering large amounts of cash”—a phrase Trump used to criticize Obama’s decision to provide economic compensation to Iran.
The price of Hyperliquid's HYPE token surpassed Solana’s SOL on Wednesday, which fell to its lowest level since 2023. HYPE set a historical high of $75.634 and is currently trading at $75.08, above SOL’s $71.82. Over the past month, HYPE has risen about 24%, making it one of the few rising assets among the top 20 cryptocurrencies, while Solana has dropped nearly 14%. In terms of market capitalization, Solana still leads with approximately $42 billion compared to Hyperliquid's roughly $16 billion. CoinShares released a valuation report on Tuesday stating that HYPE is one of the few crypto assets where protocol activity almost directly translates into token demand, targeting a price of about $147 under a baseline scenario by 2031.
Industry News
Monthly Cryptocurrency Venture Capital Transactions Drop to About 50, Hitting a Five-Year Low
The number of monthly cryptocurrency venture capital transactions in May was about 50, the lowest level since before 2021. The two traditionally most active categories, infrastructure and crypto financial services, are both nearing multi-year lows. Investors' attention has structurally shifted to AI, while the cryptocurrency space has failed to produce early opportunities of the scale seen in the 2021 and 2024 cycles.
Despite the slowdown in transaction numbers, the total amount of funding has not significantly decreased, indicating that the market is consolidating rather than undergoing a comprehensive contraction. For developers, the current level of competition is significantly lower than during the previous boom period, with projects that can demonstrate clear utility and growth momentum facing the least competition in recent years. Whether transaction volumes will rebound in the second half of the year will depend on whether new tracks outside the predictive market and financial infrastructure can stimulate investor confidence.
Charles Schwab Launches 24/7 Crypto Futures Trading Service, Supporting Bitcoin and Other Products
According to Bitcoin Magazine, Charles Schwab has launched a 24/7 crypto futures trading service. Currently, the designated crypto futures products available for trading include Bitcoin, ETH, Solana, and XRP related products.
Bitmine Immersion Technologies announced plans to issue 3 million shares of 9.50% Series A perpetual preferred stock, with a par value of $100 per share, expecting to raise a total of $300 million. The initial liquidation preference for these shares is $100 each, and dividends will accumulate at an annual rate of 9.5%, payable in cash weekly; even if the company does not declare dividends or temporarily lacks distributable funds, the dividends will continue to accumulate. Bitmine has the right of early redemption, allowing redemption at 110% of par value within 18 months after issuance, at 105% of par value between 18 months and 3 years, and at 100% of par value after 3 years, with additional payment for any accumulated unpaid dividends at redemption.
Project News
Strategy Preferred Stock STRC Falls Below $95, Exceeding 5% “De-anchored” from Target Price of $100
Strategy Preferred Stock STRC has fallen below $95, currently at $94.65, with a 24-hour decline of 2.13%, exceeding 5% “de-anchored” from the target price of $100.
Polymarket Daily Crypto Trading Volume Reaches $176 Million, Hitting an All-Time High
According to Artemis data, Polymarket's daily crypto trading volume reached $176 million, setting a record high.
Kalshi Announces Bitcoin Perpetual Contracts Now Officially Launched
Prediction market platform Kalshi announced that Bitcoin perpetual contracts have now been officially launched, reportedly being the first Bitcoin perpetual contract product approved by regulators in the US. This product is a perpetual contract based on the spot price of Bitcoin and is classified as a futures contract. The US Commodity Futures Trading Commission previously stated that, upon review, the BTCPERP contracts meet the requirements of the Commodity Exchange Act and relevant regulatory standards, including core principles applicable to designated contract markets (DCM).
Investment and Financing
NewLimit, a longevity tech startup co-founded by Coinbase founder Brian Armstrong, announced the completion of $435 million in Series C financing, with a valuation of $3.1 billion. This round of financing was led by Founders Fund, a fund under Peter Thiel, with continued participation from Abstract Ventures, Kleiner Perkins, NFDG, Eli Lilly Ventures, Valor Equity Partners, and the introduction of new investors such as Thrive Capital, Greenoaks, and Quiet Capital.
In 2021, Brian Armstrong, along with former GV partner and bioengineer Blake Byers, and stem cell biologist Jacob Kimmel, co-invested $110 million to establish NewLimit in southern San Francisco.
Strive: Plans to Increase SATA to Acquire 175,000 BTC
Strive’s Jeff Walton (@PunterJeff) stated that Strive is raising funds at an average daily rate of $8.1 million; if these funds are used to pay dividends, it could support the issuance of 15.5 billion SATA tokens. Jeff Walton noted that this amount is equivalent to buying approximately 175,000 BTC at current prices, which would increase their total BTC holdings to ten times the current size.
Stablecoin payment infrastructure platform WasabiCard announced the completion of Pre-A round financing, with participation from Vision Plus Capital and 01VC, raising nearly $10 million in total. The project mainly focuses on stablecoin payment infrastructure, and the new funds will be used for global payment infrastructure expansion, building stablecoin cards and withdrawal capabilities, expanding corporate clients, and compliance and product development, and will advance AI Agent payments and programmable global payment workflows.
Regulatory Developments
US Treasury Secretary: Treasury is Steadily Advancing Strategic Bitcoin Reserves and Promoting Passage of the "Clarity Act" This Summer
US Treasury Secretary Scott Bessent stated during a Senate Finance Committee hearing that the Treasury is steadily advancing the establishment of strategic Bitcoin reserves. Meanwhile, Scott Bessent urged lawmakers to support the digital asset regulatory bill "Clarity Act" and expressed hope that it could pass this summer, bringing the best practices of the US home and making the US a global innovation hub.
Regarding the strategic Bitcoin reserves, Scott Bessent pointed out that although the process is complex, it is progressing, ensuring the adoption of best practices during this complex process for future sustainability.
Russian Deputy Minister of Finance Ivan Chebeskov stated that they do not wish to allow dollar-denominated stablecoins to circulate in the Russian market.
Chebeskov pointed out that foreign stablecoin issuers like USDT and USDC have the ability to freeze user wallet assets. Once the relevant wallets transact with platforms authorized by the Russian central bank, the holders face a significantly increased risk of asset freeze. He revealed that there have been instances where dollar stablecoins held by Russian legal entities were frozen by the issuers, while similar situations have not occurred with Bitcoin and Ethereum due to the lack of related technical means.
The Russian Ministry of Finance believes it is necessary to establish a dedicated regulatory framework for stablecoins and to prioritize the development of stablecoins linked to the ruble and friendly countries' currencies, while granting the Russian Central Bank the power to adjust the list of related assets.
Voices from Influencers
Bitwise CEO Hunter Horsley tweeted that if SpaceX goes public in the future, its valuation could be comparable to the total market value of the entire cryptocurrency market excluding stablecoins. This indicates that the cryptocurrency market is still in a relatively early phase, with an overall scale that is not large. Hunter Horsley also stated that the market focus should not be on competition between specific assets or projects, but on whether they can create truly valuable products and services and promote the widespread application of blockchain technology in the real world. Bitwise supports all individuals and teams working towards this goal.
Arthur Hayes Remains Bullish on WLD: Expecting a Significant Surge Driven by the AI Narrative
Arthur Hayes posted that investors who are bearish on WLD will face pressure and believes that WLD will experience a significant surge driven by the AI narrative. He also stated that one should not exit the market halfway through this trend.
OKX market data shows that WLD is currently priced at 0.52 USDT, with a 24-hour increase of 33.44%.
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