Happy Green Day! 🎉 It feels good when the crypto market is painted in shades of green! The past 24 hours have been a real treat for the crypto community as most coins have been hitting new highs. Leading the charge? Bitcoin memecoins and BNB. Multiple factors are likely playing a role in driving this sudden upswing (and we will dive into all of these reasons in this newsletter). One thing's for sure - the overall vibe in crypto is electric right now. Trading volumes are going through the roof, and the hype around new projects is reaching new highs. So, let's dive into all the big stories that happened in crypto in the past 24 hours. Here is a quick rundown of the top headlines: |
- Bitcoin Memecoins are catching some serious FOMO as BTC soars past $71K. But what exactly is fueling this sudden price surge? 🧐
- BNB hit a new all-time high of $711! The coin's fans are rejoicing, but what's really driving this monumental price jump? 👀
- In a mind-blowing stat, nearly half a million (455,000 to be precise) new tokens were launched on Solana in May alone! What trending categories were birthed by this platform? 😱
- Coinbase's L2 blockchain Base has also benefitted from the market-wide surge, with its TVL increasing by 465% to hit $7.41 billion. The question remains: what's driving this surge? 🤯
- The brilliant minds at StarkWare have an ambitious $1 million plan to unlock Bitcoin's full "world-transforming" potential. But how exactly are they aiming to super-charge Bitcoin's throughput? 🔍
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And with that, let's dive into the details behind each of today's top stories! |
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| | GLOBAL MARKET CAP | | $2.62T | | ▲2.54% (24h) | | | 24H MARKET VOLUME | | $92.63B | | ▲20.74% (24h) | | |
| | BITCOIN'S DOMINANCE | | 53.15% | | ▲0.06% (24h) | | | FEAR & GREED INDEX | | 65 | | Greed | | |
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 | Bitcoin | | | $70,757.32 | | ▲2.66% (24h) | |
|  | Ethereum | | | $3,791.66 | | ▲0.64% (24h) | |
|  | BNB | | | $700.6 | | ▲9.26% (24h) | |
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Data as of: 05 Jun 2024 11:05 UTC |
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Bitcoin Memecoins Catch Serious FOMO as BTC Soars Past $71K |
Bitcoin is back, and it's bringing the entire memecoin craze along for the ride. The OG crypto just blasted past $71,000 for the first time since that pre-halving event. Leading the memecoin charge is none other than ORDI, the first BRC-20 token that's surged nearly 17% to hit two-month highs above $57. Additionally, the PUPS token more than doubled its price, while upstart Bitcoin Wizards (WZRD) pulled off a mind-blowing 136% rally as the buzz around their looming Runes launch hits a fever pitch. But what about the Runes-based memecoin? And what's causing this sudden surge in price? Read the full story! |
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In the ever-chaotic-yet-exciting world of crypto, one token is enjoying this sudden surge the most right now - BNB. Binance's native cryptocurrency hit $711 to set a fresh all-time high in the past 24 hours. BNB's 24-hour trading volumes spiked to nearly $4 billion as of today. For context, that figure makes Binance's coin the sixth most-traded crypto out of thousands of competitors. But what's driving this surge? Read the full story! |
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Wednesday, 5 Jun on 4PM UTC |
| The Top 3 Projects Selected |
Tune in to the final Killer Whales CMC Live! Hear exclusive pitches from Transhuman Coin, Paw Chain, and Birb DeFi, the top 3 projects selected. |
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455,000 Tokens Were Launched on Solana in May 😳 |
Nearly half a million new tokens were launched in May alone on Solana. The numbers are almost too big to comprehend. As The Block Pro reported, 455,000 fresh tokens were launched, utterly dwarfing the meager figures across Ethereum, Base, BNB, and other major L1/L2 contenders. This explosive token creation arguably reached memecoin singularity, thanks to the sheer ease of spinning up a new project on Solana. All you need is a few clicks on Pump.fun, that user-friendly token factory that's already pushed over 1.1 million new coins live in 2024 so far. The results have been nothing short of spectacular. Memecoins like Dogwifhat, Bonk, and Book of Meme are now the top 100 cryptocurrencies by market cap on CoinMarketCap. What other recent popular categories were birthed by the platform? Read the full story! |
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Base Also Experienced a Surge |
Coinbase's ambitious L2 blockchain is soaring, with its total value locked rocketing to fresh all-time highs. A 465% TVL spike to $7.41 billion over just the past 90 days is a huge achievement. Especially considering L2 heavyweights like Arbitrum and Optimism could barely move the needle over the same period. So what's fueling this Base surge? Read the full story! |
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Enhance Your Crypto Knowledge |
Whether you're a beginner looking to learn the basics or an experienced trader seeking advanced strategies, the CoinMarketCap Community has something for everyone. |
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| Explore a wide range of topics through articles, discussions, and user-generated content designed to enhance your crypto knowledge. |
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StarkWare to Unlock Bitcoin's 'Smart' Potential |
The Bitcoin scaling solution just got a new participant - and this time, it's coming armed with $1 million. StarkWare, the zk brains behind Ethereum's popular StarkNet rollup, is taking its zero-knowledge scaling vision to the Bitcoin blockchain. The plan? Unlock Bitcoin's full "world-transforming" potential by pushing its throughput to new levels. But how are they planning on doing that? Read the full story! |
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And that's a wrap. We will be back with more updates tomorrow! |
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