Weekly Crypto Update: May 26 - June 1
Market Movements
- Bitcoin is down 4.4% over the last 7 days, currently at $104,800
- Ethereum is sitting at $2,480 with a 3.3% decrease from the previous week
- Last week’s top 3 gainers were SPX (+13%), QNT (+9%), and CRO (+8%), while the top 3 losers were RAY (-28%), WIF (-26%), and BONK (-23%)
- The crypto market’s Fear & Greed Index is at 57 Neutral today (CMC)
- Crypto market capitalization is at $3.27 trillion, up 0.22% since yesterday
- Bitcoin's market cap dominance is currently at 63.7%, Ethereum at 9.2%, and other cryptocurrencies at 27.2%
- Stablecoins' market capitalization has risen by 0.47% in the last 7 days, currently at $247 billion, with USDT dominance at 62.06% (DefiLlama)
- NFT sales volume decreased by 27% over the previous 7 days, while total transactions increased by 0.22% (CryptoSlam)
Blockchain Tech & Gaming
- Blockchain company StarkWare launched its zero-knowledge prover STARK Two (S-two), which allows users to generate cryptographic proofs on their devices like phones and laptops, improving privacy and verification
- Yuga Labs sold its Moonbirds, Mythics, and Oddities NFT collections IPs to Orange Cap Games, a crypto gaming startup
- TON blockchain experienced a brief outage on June 1st, caused by an error in the processing of the masterchain dispatch queue
Investments & Partnerships
- Xend Finance and Risevest are partnering up to launch a tokenized stocks and real estate platform in Africa
- Donut Labs raised $7 million to launch the first-ever crypto browser powered by AI agents, with a crypto wallet and DEX integration
- Boston-based payments company Conduit raised $36 million in Series A funding to build its stablecoin and fiat cross-border payment system
Crypto Security
- Crypto exchange BitoPro hit with a $11.5 million exploit
- Crypto hackers stole $244 million in May, according to blockchain security company PeckShield, which is a 40% decrease compared to April
- MEXC exchange detected a 200% increase in fraudulent trading activity in Q1 of 2025 compared to Q4 of 2024
- DeFi platform, Cork Protocol, was exploited with losses amounting to $12 million
Regulatory Developments
- Singapore’s central bank has ordered local crypto firms to stop operations overseas by the end of June or obtain a license; violations will face fines of up to $200k
- Spain’s Banco Santander is considering launching a stablecoin product and expanding crypto services also to retail clients
More Industry Updates
- After their latest Bitcoin (BTC) purchase, worth $118 million, Metaplanet is now the 8th largest Bitcoin holder
- FTX started its second round of reimbursements to creditors, which is $5 billion worth to large accounts
- Paris-based company Blockchain Group announced that it will buy more Bitcoin for its treasury by selling $72 million worth of bonds
- USDC issuer, Circle, has applied to list its Class A common stock on the NYSE under ticker CRCL
- Nasdaq filed with the SEC for 21Shares to list a Spot Sui ETF in the U.S.
- Canary Capital has applied S-1 registration form with the SEC for Cronos (CRO) ETF
- GameStop’s stocks fell after buying $500 million worth of BTC
Have a successful new week ahead! 🤝
- Swapin Team