Cryptocurrency market cap exceeds $2.5 trillion, Rune market cap falls below $1.9 billion

Headlines

▌Total market value of cryptocurrency exceeds 2.5 trillion US dollars

Data shows that the total market value of cryptocurrency has exceeded 2.5 trillion US dollars, currently at 2.568 trillion US dollars, with a 24-hour increase of 0.7%, and a 24-hour trading volume of 45.7863 billion US dollars. Currently, BTC has a market share of 51.1% and ETH has a market share of 16.8%.

▌Rune market value falls below the 1.9 billion US dollar mark

According to Geniidata data, Rune's market value fell to 1.88 billion US dollars, a drop of 0.02%. Today, Rune's total trading volume fell to 5.63 million US dollars, a drop of 12.92% from yesterday. In addition, the unit price of Rune DOG•GO•TO•THE•MOON is 0.0073 US dollars, and the daily trading volume fell to 741,600 US dollars, and its market value fell to 711 million US dollars.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $66617.42, with a daily increase or decrease of +0.6%;

ETH's latest transaction price is $3618.94, with a daily increase or decrease of +0.49%;

BNB's latest transaction price is $603.20, with a daily increase or decrease of +1.5%；

SOL's latest transaction price is 151.05 US dollars, with a daily increase or decrease of +3.9%；

DOGE's latest transaction price is 0.137 US dollars, with a daily increase or decrease of +0.2%；

XPR's latest transaction price is 0.4888 US dollars, with a daily increase or decrease of -0.4%.

Policy

▌Salvadoran government initiative to include Bitcoin and other cryptocurrencies in its investment banking sector

The government of El Salvador has proposed an initiative to accelerate the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. The banking law reform submitted to the National Congress will allow private investors to form banks that provide Bitcoin and stablecoin services to sophisticated investors.  

If passed, the initiative will allow the creation of these banks that can provide different services, including economic risk management, purchase of financial products, investment management, hedging and other financial derivatives. These services will support any legal currency in El Salvador, such as the US dollar and Bitcoin. In addition, the bill explicitly supports stablecoin-based instruments, opening the door to crypto-based investment instruments. Nevertheless, the requirements for the establishment of private investment banks are high: these companies must have $50 million in capital at the time of incorporation.  

In addition, these banks will not serve all Salvadorans, as their services will be focused on "professional investors." These people must prove that they have at least $250,000 in assets and pass a knowledge test for a bank, or prove that they have $500,000 in assets.

Blockchain Applications

▌dYdX v4 is now available on iOS and Android

dYdX said on the X platform that dYdX v4 is now available on iOS and Android.

Cryptocurrency

▌The number of crvUSD minted reached 131 million

According to the data on the Curve website, the number of crvUSD minted by Curve's native stablecoin exceeded 131 million, and as of press time, it was 131,341,895. Among them, the collateral value based on WBTC is 83.69 million US dollars, the collateral value based on wstETH is 48.98 million US dollars, the collateral value based on ETH is 69.88 million US dollars, and the collateral value based on sfrxETH V2 is about 18.94 million US dollars.

▌The current locked amount of BASE network is 1.677 billion US dollars

According to DefiLlama data, the TVL of BASE network is now 1.677 billion US dollars, with a 24-hour increase of 1.73%. The top three TVL rankings of ecological protocols are as follows: Aerodrome TVL reached 627 million US dollars, a 7-day drop of 8.45%; Compound V3 TVL reached 324 million US dollars, a 7-day drop of 13.95%; Extra Finance TVL reached 112 million US dollars, a 7-day drop of 5.55%. ▌ Solana blockchain TVL is currently 4.337 billion US dollars According to the latest data from CoinGecko, the current Solana blockchain locked total value (TVL) is 4,337,176,423 US dollars, a 24-hour increase of 0.5%; the 24-hour trading volume is 880,331,379 US dollars, a drop of 4.7%.

▌1276.01 BTC flowed into exchange wallets in the past 24 hours

According to the latest data, 1276.01 BTC flowed into exchange wallets in the past 24 hours, 16606.12 BTC flowed out of exchange wallets in the past 7 days, and 94243.42 BTC flowed out of exchange wallets in the past 30 days. As of press time, the total balance of exchange wallets is 2,474,886.97 BTC.

▌Floki will release information about the trading robot in the mainnet version in the next few days

The closed beta period of the Floki trading robot has officially ended. The closed beta period lasted for three weeks, from May 27 to June 14, 2024. Floki will release more information about the trading robot when the public mainnet version is released in the next few days.  

Floki trading bot will use Floki as its main utility token, and 50% of the bot's trading fees will automatically buy and burn Floki tokens.

Important Economic Dynamics

▌CME Fed Watch: The probability of the Fed keeping interest rates unchanged in August is 87.6%

According to CME's "Fed Watch" data, the probability of the Fed keeping interest rates unchanged in August is 87.6%, and the probability of raising interest rates by 25 basis points is 12.4%.

Golden Encyclopedia

▌What is an inverse futures contract?

An inverse futures contract is a financial arrangement that requires the seller to pay the buyer the difference between the agreed price and the current price when the contract expires. Unlike traditional futures, the seller benefits from a drop in price.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment philosophy and be sure to increase risk awareness.