Headlines
Cryptocurrency Total Market Value Surpasses $2.5 Trillion
Data indicates that the total market value of cryptocurrencies has now exceeded $2.5 trillion, currently standing at $2.568 trillion, with a 0.7% increase in the last 24 hours and a trading volume of $457.863 billion. BTC currently holds a market share of 51.1%, while ETH holds 16.8%.
Rune Market Value Drops Below $1.9 Billion Mark
According to Geniidata, the market value of Rune has dropped to $1.88 billion, with a decrease of 0.02%. Today, the total trading volume of Rune has fallen to $5.63 million, a 12.92% decrease from yesterday. Additionally, the price of Rune DOG•GO•TO•THE•MOON is $0.0073 per unit, with a daily trading volume dropping to $741,600, bringing its market value down to $711 million.
Market Updates
As of the time of writing, according to Coingecko data:
BTC recent trading price is $66,617.42, with a daily change of +0.6%;
ETH recent trading price is $3,618.94, with a daily change of +0.49%;
BNB recent trading price is $603.20, with a daily change of +1.5%;
SOL recent trading price is $151.05, with a daily change of +3.9%;
DOGE recent trading price is $0.137, with a daily change of +0.2%;
XPR recent trading price is $0.4888, with a daily change of -0.4%.
Policy
Salvadoran Government Proposes Inclusion of Bitcoin and Other Cryptocurrencies in Investment Banking Sector
The Salvadoran government has proposed an initiative to expedite the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. The banking law reform submitted to the National Assembly will allow private investors to establish banks and offer Bitcoin and stablecoin services to sophisticated investors.
If passed, this initiative will enable the creation of banks that can provide various services, including economic risk management, financial product purchases, investment management, hedging, and other financial derivatives. These services will support any legal tender in El Salvador, such as the US dollar and Bitcoin. Additionally, the bill explicitly supports tools based on stablecoins, opening the door to crypto-based investment instruments. However, the requirements for establishing private investment banks are stringent: these companies must have a capital of $50 million upon establishment.
Furthermore, these banks will not cater to all Salvadorans, as their services will be focused on “professional investors”. These individuals must prove they have at least $250,000 in assets, pass a knowledge test about banking, or prove they have $500,000 in assets.
Blockchain Applications
dYdX v4 Now Available on iOS and Android
dYdX announced that dYdX v4 is now available on iOS and Android platforms.
Cryptocurrency
crvUSD Minted Quantity Reaches 131 Million
Curve website data shows that the native stablecoin crvUSD has a minted quantity exceeding 131 million, totaling 131,341,895 as of the time of writing. The collateral value based on WBTC is $83.69 million, based on wstETH is $48.98 million, based on ETH is $69.88 million, and based on sfrxETH V2 is approximately $18.94 million.
BASE Network Lockup Amount Currently at $1.677 Billion
According to DefiLlama data, the BASE Network TVL is currently at $1.677 billion, with a 1.73% increase in the last 24 hours. The top three ecosystem protocol TVLs are as follows:
Aerodrome TVL reaches $627 million, with a 7-day decrease of 8.45%;
Compound V3 TVL reaches $324 million, with a 7-day decrease of 13.95%;
Extra Finance TVL reaches $112 million, with a 7-day decrease of 5.55%.
Solana Blockchain TVL Currently at $4.337 Billion
According to the latest CoinGecko data, the current total value locked (TVL) of the Solana blockchain is $4,337,176,423, with a 0.5% increase in the last 24 hours. The 24-hour trading volume is $880,331,379, with a decrease of 4.7%.
Over the last 24 hours, 1,276.01 BTC have flowed into exchange wallets, while over the past 7 days, 16,606.12 BTC have flowed out of exchange wallets, and over the last 30 days, 94,243.42 BTC have flowed out of exchange wallets. As of the time of writing, the total balance in exchange wallets is 2,474,886.97 BTC.
Floki to Announce Information on Trading Bots in the Coming Days
The closed beta testing period for the Floki trading bot has officially concluded. The closed beta testing lasted for three weeks, from May 27, 2024, to June 14. Floki will release more information about the trading bot when it launches the public mainnet version in the coming days.
The Floki trading bot will use Floki as its primary utility token, with 50% of trading fees automatically used to purchase and burn Floki tokens.
Important Economic Insights
CME Fed Watch: Probability of Fed Maintaining Rates Unchanged in August at 87.6%
According to CME Fed Watch data, the probability of the Fed maintaining rates unchanged in August is 87.6%, while the probability of a 25 basis point rate hike is 12.4%.
Goldenpedia
What is a 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 at the contract’s expiration. Unlike traditional futures, the seller benefits from a decrease in price.