In the latest crypto news, Coinbase is adding perpetual futures for several tokens, while PumpFun Corp faces legal action. Elon Musk’s SpaceX holds a massive BTC stash and the SEC has accused Digital Currency Group. The crypto market cap is now $3.6T, with Bitcoin rising to $103,316.74. Institutional interest is growing with multiple ETF filings, alongside fluctuating trading figures and whale activities.
Hello, crypto enthusiasts! 🌍 Here’s your daily dose of crypto happenings compiled from the last 24 hours. Coinbase International is expanding its offerings by incorporating perpetual futures for AIXBT, PNUT, and VET. Meanwhile, PumpFun Corp has landed in hot water, facing a lawsuit in New York for alleged pump-and-dump schemes, inadequate KYC/AML protections, and targeting minors in its marketing efforts.
In other news, Elon Musk’s SpaceX holds 8,285 BTC valued at approximately $851 million. Meanwhile, the SEC has accused Digital Currency Group of misleading investors, further shaking the trust in the market. Notable institutions like ProShares, Tidal Defi, and Valkyrie are filing for various crypto-focused ETFs, including those linked to XRP and other top assets.
In a significant development, U.S. Senator Cynthia Lummis announced a pivotal move in Wyoming towards establishing strategic Bitcoin reserves. This idea has garnered Coinbase’s endorsement, with CEO Brian Armstrong hinting at private meetings with Trump. Polymarket suggests a 65% chance for a U.S. national Bitcoin reserve by 2025, gathering momentum amid these discussions.
On the trading front, the total global crypto market capitalization stands at $3.6 trillion, marking a 0.83% growth over the past day. Bitcoin has seen a 1.70% rise, now trading at $103,316.74. BNB achieved a significant milestone, surpassing a $105 billion market cap, while Ethereum dipped slightly to $3,368.00 amid a narrow 0.15% increase.
Solana (SOL) saw a notable 7.95% increase, surpassing the $230 mark, while Chainlink enjoyed an 18% uptick thanks to whale activity accumulating over 1.4 million $LINK tokens. However, XRP faced a drop of 3.15%, trading at $3.20, whereas STX showcased a promising rise of 9.52%, briefly exceeding $1.7.
On-chain statistics reveal $285 million in liquidations over two hours, with significant contributions from both long and short positions. Open interest for $PEPE rose by 15%, hinting at bullish re-entry, while DOGE’s open interest hit a record $5.5 billion. Bitcoin ETFs saw notable inflows of 7,222 BTC and Ethereum ETFs gained 56,608 ETH.
In exciting trading activity, a whale spent $8 million USDC on 533.33 million $WLFI tokens, with previous purchases totaling $2 million. Another whale acquired $2.1 million USDC for 107.89 billion $PEPE at an average price of $0.0000194, while a $2.72 million purchase was made for 6.1 million TRUMP tokens. Circle treasury minted $250 million USDC on Solana, and a high-frequency trader increased their short position to $49.27 million.
The crypto landscape is constantly shifting, shaped by influential figures and groundbreaking developments. Coins are emerging, and institutional interest is growing, with more traditional finance firms dipping their toes into the world of digital currencies. Recent legal challenges, large holdings of BTC by major corporations, and evolving narratives around national reserves mark a pivotal time for the community. Investors are keenly observing not just price swings, but also regulatory evolutions and significant market movements from whales.
Today’s crypto update captures a vibrant and evolving market scene, highlighting institutional moves, regulatory pressures, and impressive trading numbers. With Coinbase’s support for a U.S. Bitcoin reserve and high-profile lawsuits stealing the headlines, the landscape seems ripe for further development. Key cryptocurrencies have shown varied performance, underlined by significant shifts in open interests and trading activity, painting a dynamic picture of both opportunities and challenges ahead.
Original Source: www.binance.com
