The Morning Minute (5.6)
⏰Top News:
-Crypto majors continue decline; BTC at $93,800
-GENIUS bill faces issues in Congress over Trump’s involvement
-Bernstein predicts $330B in corporate BTC inflows by 2029
-Defi Development acquires another $72M of Solana
-Freight Technologies announces strategic TRUMP reserve
🌎 Macro Crypto and Memes
-Crypto majors are red this morning while gold jumps 2% to retest local highs; BTC -1% at $94,000, ETH -1% at $1,780, XRP -3% at 2.10, SOL -1% at $143
-FORM (+6%), XDC (+3%) and DEXE (+3%) led alts
-Senate Democrats are trying to delay the GENIUS Act (stablecoin legislation) due to concerns about President Trump's financial interests in crypto, potentially hindering broader market structure reforms
-Meanwhile a new draft crypto market structure bill is floating around the House and would end the SEC’s oversight over most crypto assets
-Semler Scientific purchased 167 BTC, increasing its total to 3,634 BTC ($342M)
-Bernstein analysts predicted $330B in corporate BTC inflows by 2029
-Florida became the latest state to withdraw its Bitcoin Reserve bill
-Vitalik has proposed reducing the Ethereum network's complexity to make it more accessible and maintainable
-Ripple announced a $25M investment in U.S. classrooms through Donors Choice and Teach for America
-VanEck filed for the first-ever BNB spot ETF
-A Kenyan High Court ordered Worldcoin to delete its citizens’ biometric data within 7 days
-eToro filed for an IPO seeking to raise $500M at a $4B valuation
-Defi Development (previously Janover) acquired another $72M of Solana via acquisition
In Memes
-Memecoin leaders were mostly red; DOGE -3%, Shiba -2%, PEPE -5%, TRUMP -4%, BONK -2% & FARTCOIN +1%
-Freight Technologies announced plans to raise funds to acquire the TRUMP memecoin, leading to a 100% gain last week before selling off this past Monday
đź’° Token, Airdrop & Protocol Tracker
-Bybit announced stocks, indexes, oil and gold will be tradeable on its exchange soon
-Berachain’s BOYCO rewards unlock today
-Ethena is bringing its USDE to Hyperliquid
-Wasabi announced its first JLP vault along with 104% yield on its BERA deposits
-AIMI teased the first-ever agentic AI prediction market integration with Myriad with more info coming today
-Kraken listed USDT0, the omnichain version of USDT from Flare Networks
🤖 AI x Crypto
-Overall market cap fell 1% to $8.8B, leaders were mixed
-FARTCOIN (+2%), VIRTUAL (-5%), ai16z (+3%), AIXBT (-8%), and ALCH (-7%)
-MOBY (+20%) and SEKOIA (+10%) led notable movers
-Fartcoin led mindshare with a 10% share; AVA and Virtual are next
-Virtuals announced several changes to its Virgen points system
đźšš What is happening in NFTs
-ETH NFT leaders are mostly even; Punks even at 44.5 ETH, Pudgy even at 11.7, BAYC even at 13.85 ETH
-Good Vibes Club (+12%), Otherside Kodas (+29%), and Kaito Genesis (+17%) led notable movers
-BTC NFT leaders were mixed with Taproot Wizards +3% at 0.183 BTC, Bitcoin Puppets -3%, NodeMonkes -4%, OMB -1%, Quantum Cats +2%
-Abstract NFTs were very green led by Captain & Company (+40%), Kabu (+30%) and RUYUI (+21%)
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