Here is a 2-minute breakdown of everything important that happened in crypto today.
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Bitcoin crossed $94,000 a few days back, and now it's just... sitting there.
That price range seemed impossible just weeks ago, but the market has settled into this new reality with surprising speed.
Instead of the usual excitement, we're seeing sideways movement. No major dumps, no explosive rallies.
The price discovery seems to have hit pause.
When markets get this comfortable at a new threshold, it often signals we're about to see the next major move - up or down.
So what's actually happening behind the scenes? Let's make sense of it all! Here is a quick rundown of the top headlines from the past 24 hours:
- Bitcoin's "hot supply" just exploded to $40 billion – more than double what we saw five weeks ago. Is this retail FOMO making a comeback? 🚀
- A shocking $649 billion in stablecoins moved through high-risk addresses this year (that's 5.14% of all transactions). How will this affect stablecoin regulations? 💸
- DeFi giant 1inch just jumped onto Solana, unlocking million-token trading with penny-level fees. Will this bring Solana's glorious days back? ✨
- SEC pushed back decisions on both Dogecoin and XRP ETFs to mid-June. But why the delay? ⏰
- Mark Carney, who once called Bitcoin "not a store of value," just won Canada's election. Could this trigger a Canadian crypto exodus? 🇨🇦
Let's dive in!
Bitcoin Sees Massive Investor Surge
Bitcoin is hovering near $95,000, and there's something fascinating happening behind the scenes.
New investors are flooding into the market at a surprising pace. The "hot supply" – money moved within just the past week – has exploded to nearly $40 billion.
That's more than double what we saw just five weeks ago. In March, this speculative capital was sitting at $17.5 billion. Now? It's skyrocketed by an additional $21.5 billion.
Is this retail FOMO making a comeback? Read the full story!
Stablecoins Linked to Illicit Activity
$649 billion in stablecoins were moved through high-risk addresses this year alone, according to a report.
That's roughly 5.14% of all stablecoin transactions in 2024 – slightly better than last year, but dramatically worse than 2021 when it was just 1.63%.
The Tron network reportedly handled over 70% of these transactions, mostly involving USDT.
How will this affect stablecoin regulations? Read the full story!
1inch Goes for Solana
DeFi giant 1inch just planted its flag on Solana.
This move unlocks trading for over one million Solana-based tokens with transaction costs of less than a penny each.
Solana recently outperformed Ethereum with 33% higher DEX volume and 400% more transactions.
Will this bring Solana’s glorious days back? Read the full story!
SEC Delays Crypto ETF Decisions
The SEC has delayed decisions on two of crypto's most anticipated ETFs – Dogecoin and XRP.
The verdict for Bitwise's Dogecoin ETF is now pushed to June 15, while Franklin's XRP Fund must wait until June 17.
But why the delay? Read the full story!
Former Crypto Critic Wins Canadian Election
Mark Carney has won Canada's snap election, leaving the crypto industry wondering what comes next.
The new prime minister once dismissed Bitcoin as "not a store of value" and said cryptocurrencies were "failing" as money.
Yet there's more nuance than appears on the surface. As a Stripe board member, Carney has shown openness to financial innovation, including novel payment systems.
Could this trigger a Canadian crypto exodus? Read the full story!
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