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PEPE buyers are attempting to step in at the current levels. A good sign for some crypto coins would be to retake that pre-election level where the previous rally started. PEPE has been relatively strong the past few days, especially compared to other bigger memes.
Durov had been required to remain in the country since his arrest seven months ago.
Quick Take Magic Eden saw an explosive but short-lived surge in Ordinals trading, with daily volume averaging nearly $50 million for eight days, driven by the Idiots NFT mint. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take International bank Standard Chartered has slashed its 2025 ether price target by 60% from $10,000 to $4,000, citing factors like Base’s growing market share. The Bank of Korea has ruled out the idea of creating a bitcoin reserve, citing its high volatility.
Quick Take The custody rule, proposed under the former Biden administration and when Gary Gensler led the agency, would expand the current custody rule to include any client assets that an adviser has custody over. Acting Chair Uyeda’s move to revisit the rule marks the second time this month that the acting chair has asked the SEC staff to reconsider its rules.
Quick Take Canary Capital’s Sui ETF filing could pave the way for the first Sui ETF in the United States under an SEC that’s more amiable to cryptocurrency and related investment products. The Sui ETF would emerge after World Liberty Financial, a decentralized financial project linked to U.S. President Donald Trump, noted plans to put Sui in its strategic reserves.
- 02:41Analyst: Macro-economic concerns and deteriorating liquidity conditions may improve next quarter, Bitcoin prices could bottom out within a few weeksIndustry analyst David Duong stated that the market almost universally expects the Federal Reserve to maintain interest rates at this week's Federal Open Market Committee meeting, but investors should pay attention to any potential changes in the Fed's balance sheet reduction (i.e., quantitative tightening, QT) plan. He wrote in a report on Monday: "We believe that the Fed may pause or end its quantitative tightening program because bank reserve levels are close to 10-11% of US GDP, a level generally considered sufficient for financial stability." He said recent cryptocurrency sell-offs were mainly due to macroeconomic concerns and worsening liquidity conditions, but these factors could improve next quarter, providing support for asset prices. "Cryptocurrency prices may bottom out in the coming weeks and then rebound to new highs later this year," he concluded.
- 02:40PancakeSwap 2021 OG player suspected of clearing out 1.475 million CAKE tokensAccording to on-chain analyst @ai_9684xtpa, a PancakeSwap OG player is suspected of clearing out 1.475 million CAKE tokens 15 hours ago, valued at $3.79 million. This is the first time this smart money has deposited CAKE into an exchange. In addition, they have previously profited $19.69 million from buying low and selling high WBTC, with costs as low as $26,395.
- 02:39Market News: Trump will sign an executive order at 3:30 PM Eastern Time on TuesdayMarket News: Trump will sign an executive order at 3:30 PM Eastern Time on Tuesday.