May 28: CRYPTO MARKET UPDATE-1
• The Most Published News
Trump Media & Technology Group (TMTG) announced a $2.5 billion capital raise to build one of the largest corporate #Bitcoin treasuries, signaling growing institutional uptake. US Senator Cynthia Lummis revealed that former President Trump supports the Strategic Bitcoin Reserve Act proposing the US government purchase 1 million $BTC, an initiative gaining bipartisan momentum as several states consider similar legislation. @Circle, issuer of $USDC stablecoin, officially filed for an IPO on the NYSE under the ticker $CRCL, supported by leading banks, marking a landmark institutional move in stablecoins and signaling expanding traditional finance integration.
• Current Market Trends
Bitcoin hovered near $110,000 amid mixed signals: strong institutional inflows, increased corporate adoption, and views of Bitcoin as an inflation hedge pressured price upward, while technical indicators showed easing momentum and bearish divergences suggesting near-term profit-taking risk. Long-term Bitcoin holders continue accumulation, pushing realized capitalization above $28 billion, reinforcing underlying market confidence. Ethereum surged around 4%, fueled by institutional ETF inflows and SharpLink Gaming’s $425 million ETH treasury announcement, leading to record futures open interest and altcoin market optimism. The meme coin slump has dampened Solana’s near-term prospects, although upgrades and long-term forecasts remain cautiously bullish. US spot Bitcoin ETFs have sustained net inflows over nine consecutive days, highlighting robust institutional demand.
• Regulations and Policies
US regulatory landscape is evolving swiftly: the GENIUS Act, a bipartisan stablecoin framework bill requiring license and reserve transparency, is nearing Senate final deliberation. The SEC moved WisdomTree’s XRP spot ETF application into extended review, delaying a decision. VanEck’s Matthew Sigel emphasized the need for Congressional legislation to sustainably expand the US strategic Bitcoin reserve, highlighting budget-neutral incentives like Bitcoin mining royalties. Luxembourg, through its 2025 risk assessment, labeled virtual asset service providers as high money laundering risks, aligning with the EU’s MiCA amendments that are reshaping licensing and compliance requirements across Europe. South Korea plans a hybrid CBDC model linking central bank-issued tokens with private stablecoins to address monetary sovereignty challenges. Investigations revealed North Korean Lazarus group stolen crypto funds laundering via Tornado Cash, spotlighting geopolitical hacking threats.
• Technology and Innovation
@StarkWareLtd launched S-two, a consumer-grade zero-knowledge prover capable of running privacy-preserving proofs on devices such as smartphones, accelerating privacy tech adoption. ZKsync introduced Prividium, an enterprise-grade privacy chain infrastructure with built-in compliance bridging Ethereum, targeting regulated institutional use-cases. The Bank of Korea and Thailand are advancing digital asset initiatives: Korea exploring deposit token integration with public blockchains; Thailand planning crypto-linked credit cards and merged regulatory frameworks for digital assets. Filecoin Foundation and Ava Labs launched a cross-chain data bridge linking Avalanche with Filecoin’s decentralized storage, supporting scalable enterprise blockchain applications. MetaMask integrated the Solana network for desktop users, broadening multi-chain wallet capabilities beyond EVM chains.
• Institutional Investor News
Cantor Fitzgerald launched a $2 billion Bitcoin financing business, completing initial loans with @FalconXGlobal and Maple Finance, exemplifying rising institutional credit market engagement. SharpLink Gaming raised $425 million with Consensys backing to create the first Nasdaq-listed Ethereum treasury company, signaling Ethereum’s growing institutional treasury role beyond Bitcoin. BlackRock increased its holdings in the iShares Bitcoin Trust (IBIT) by 25%, showing growing exposure to Bitcoin ETF products. The Blockchain Group in Paris secured €63 million in bonds to fund a Bitcoin acquisition strategy aiming to hold 1% of Bitcoin supply by 2032. Multiple public companies, including Metaplanet (Japan) and KindlyMD (merging with Nakamoto Holdings), are aggressively accumulating Bitcoin as treasury reserves, reflecting a broader corporate trend.
• Market Forecasts and Expert Opinions
Industry leaders at BTC 2025 Conference forecast trillions in future institutional Bitcoin inflows, attributing potential price surges to strategic corporate reserve accumulation and regulatory clarity. Analysts caution on Bitcoin’s short-term risks due to bullish saturation indicated by over 99% UTXO profitability, bearish technical divergences, and overheated sentiment reflected in options markets. Standard Chartered projects Solana price to reach $275 by end 2025 and $500 by 2029 but lagging Ethereum due to scaling and use case limitations. Bitcoin’s price could reach $1 million if Wall Street allocates even 10% of assets, per Strategy’s Michael Saylor. Former CFTC chair Christopher Giancarlo’s move to Sygnum and the growing acceptance of ‘AI Crypto Sector’ tokens by Grayscale highlight increased institutional interest in crypto’s evolving tech frontiers.
• Security and Hacking News
A major $223 million exploit targeted Cetus on $SUI blockchain due to vulnerability in an open-source math library, leading to protocol shutdown, asset freezing, and a $5 million bounty for relevant tips. Community vote is pending authorization to unlock $162 million for user reimbursement. Hackers compromised rapper Migos’ Instagram to leak #Solana co-founder Raj Gokal’s private KYC data after ransom demands were refused, amplifying concerns on personal data security vulnerabilities in the crypto sphere. The Lazarus group from North Korea has stolen $5.2 million in crypto assets, laundering them through mixers amid sanctions, underlining persistent geopolitical cyber threats. Coinbase faces class-action litigation tied to data breaches and regulatory fines, adding scrutiny to exchange security practices.
• Conclusion
Today’s cryptocurrency landscape reflects robust institutional adoption and innovative technological advancements balanced against regulatory scrutiny and security challenges. Ethereum’s rising institutional demand complements Bitcoin’s steadfast role as a long-term inflation hedge and corporate treasury asset, while emerging regulatory frameworks like the GENIUS Act and MiCA promise clearer industry rules. However, investors should heed evolving technical indicators warning of potential short-term Bitcoin corrections and manage risk prudently amid high leverage positions. The expanding US strategic Bitcoin reserve campaign, supported by bipartisan legislative momentum and executive endorsements, marks a defining trend shaping crypto’s integration into national financial policy. Meanwhile, the ongoing security breaches and exploits emphasize vigilance and the necessity of enhanced infrastructure safeguards. Retail and institutional investors alike would benefit from adopting cautious optimism—capitalizing on growing adoption opportunities while maintaining protective measures against market volatility and operational risks.
Daily crypto market update is an AI summarization of important news published in major crypto media in the last 24 hours at the time of sending. The full news story can be found at the URL below.
https://t.co/zokRJWa91M
Solidus Labs