Democratic Party Considers Establishing a Dedicated Digital Asset Agency
Financial News exclusively reported that Lee Jae-myung, the Democratic Party's presidential candidate, is actively reviewing the establishment of a 'Digital Asset Agency' (tentative name) to handle digital asset-related tasks if elected, following his campaign promise to introduce a won-based stablecoin and foster the digital asset industry. This is linked to the discussion of a digital asset basic law draft being prepared by the Digital Asset Committee under the candidate's election campaign headquarters. The media explained that "the intention behind establishing the Digital Asset Agency appears to be to separate the digital asset market management tasks from the existing financial authorities."
Texas House of Representatives Enters Second Review of BTC Strategic Reserve Bill
Bitcoin Magazine reported that the Texas House of Representatives is entering the second reading (bill review and voting procedure) of the Bitcoin Strategic Reserve Bill (SB21). SB21 grants the state comptroller the authority to hold, operate, and invest in BTC and other cryptocurrencies. The Texas Senate had previously passed the BTC Strategic Reserve Bill on March 7th.
Analysis: ETH Expected to Benefit from GENIUS Law Passage
An analysis suggests that Ethereum (ETH) would be the most benefited cryptocurrency if the U.S. stablecoin regulation law GENIUS passes. Chris Burniske, Managing Partner at Placeholder, shared on X that "ETH has a large stablecoin ecosystem, robust DeFi infrastructure, and has maintained a long-standing positive relationship with institutions. Additionally, the GENIUS bill could positively impact Solana (SOL) and TRON (TRX)." The U.S. Senate had previously passed the GENIUS bill in a preliminary vote for plenary session review.
ETH Spot ETF Sees 19.1 Billion Won Net Inflow
According to Passaic Investor, the U.S. Ethereum (ETH) spot ETF received a net inflow of 13.7 million dollars (approximately 19.1 billion won) on the 19th (local time). This marks the second consecutive trading day of net inflows. BlackRock's ETHA alone saw a net inflow of 13.7 million dollars.
Exchange-Held ETH Drops Below 4.9% of Total Supply, Lowest in 10 Years
Sentiment analyzed that the amount of Ethereum (ETH) held by major cryptocurrency exchanges has fallen below 4.9% of the total ETH supply. This is the lowest level in the past 10 years. Sentiment explained, "Over the past 5 years, 15.3 million ETH has been withdrawn from exchanges. The amount of Bitcoin (BTC) held by exchanges has also dropped to 7.1% of the total BTC supply, the lowest since November 2018."
Domestic Digital Asset Market Saw 1,345 Trillion Won Inflow in Second Half of Last Year
According to the Financial Supervisory Service's '2024 Second Half Digital Asset Business Operator Survey Results' reported by News1, the domestic digital asset trading volume in the second half of last year was 1,345 trillion won, a 24% increase from the previous half (1,087 trillion won). The market capitalization of the domestic digital asset market increased by 91% to 107.7 trillion won during the same period. The average daily trading volume increased by 24% to 7.3 trillion won, and the number of users able to trade increased by 25% to 9.7 million. The survey was conducted on 25 digital asset businesses, including exchanges and wallet providers, from July to December last year.
Verolabs Partners with Paxos to Introduce USDL
Verolabs, the developer of the blockchain-based global remittance protocol Velo, announced a collaboration with stablecoin issuer Paxos to introduce Paxos' yield-generating stablecoin USDL. According to PR Newswire, USDL will serve as a reserve and settlement asset within Verolabs' stablecoin USDV.
CME XRP Futures Record $1.5 Million in Trading Volume on First Day
Coindesk reported that the CME XRP futures contract, which began trading on the 19th (local time), recorded a trading volume of $1.5 million. The micro-sized contract of 2,500 XRP units recorded about $1 million in trading volume, while the contract of 50,000 XRP units recorded about $480,000.
24-Hour Cryptocurrency Perpetual Futures Liquidation Scale
Recent 24-hour cryptocurrency perpetual futures liquidation scale and liquidation ratio are as follows:
BTC Liquidation Scale: $64.08 million, Liquidation Ratio: 70.91% Short
ETH Liquidation Scale: $86.28 million, Liquidation Ratio: 69.87% Short
SOL Liquidation Scale: $10.47 million, Liquidation Ratio: 52.78% Long
Binance Lists AGT Perpetual Futures
Binance announced through its official website the listing of AGT/USDT perpetual futures on May 20th at 7:30 PM (Korean time), supporting up to 50x leverage.
MapleStory Universe Acknowledges Investment Return Issues
MapleStory Universe (MSU) announced on its official X account that they recognize the investment return (ROI) issues and are urgently adjusting the in-game economic system algorithm and supply mechanism based on community feedback. They acknowledged that the imbalance in in-game currency NESO and item supply was exacerbated by higher-than-expected user participation, and that the revenue structure is significantly lower than initially designed. They plan to comprehensively optimize the system, including improving item supply algorithms, adjusting returns, stabilizing the system, and introducing anti-fraud features. They also plan to formally introduce key interconnected systems within weeks and strengthen the connection between Non-Fungible Tokens and NXPC Tokens.
Justin Sun to Attend TRUMP Dinner as Largest Holder
Justin Sun, TRON founder, announced on X that he will attend the 'TRUMP Dinner' in Washington on the 22nd (local time) as the largest TRUMP coin holder. He currently holds 1,432,003.302 TRUMP. The Official Trump Project previously stated they would invite the top 220 TRUMP holders. The top 25 holders will have the opportunity to meet Trump and tour the White House before the dinner.
Analysis: BTC Rally Expected to be Led by Long-Term Holders
An analysis suggests that Bitcoin can continue a quiet rally without speculative buying from individual investors. Matrix Port, a cryptocurrency financial service company, stated through X that "while BTC is approaching an all-time high, the options market implied volatility (IV) is at its lowest level in years, and the funding rate remains slightly positive. This suggests that individual investors using leverage have significantly reduced their participation. This cycle differs from previous ones, focusing more on long-term holders, potentially allowing for an upward trend without market overheating."
Analysis: "No Possibility of BTC Weakness Reversal... Reaching $115,000 in June"
According Port to Bitcoin Fundamental Index (BFI), Swiss Block analyzed that the possibility of BTC weakening is low. Swiss Block explained through X that "although recent analyses suggest BTC completing a double-top pattern indicates the start of a bearish market,ive has maintained a 'neutral'ance' since August last year, regardless of price movements. This suggests continued on-chain strength ". Cryptocurrency analyst Timothy Peterson also forecasted that "BTC can reach $115,000 by the end of June".
<><-BBTC Perpetual Futures at Major ExchangesOverall Exchanges: 50% / Short 49..76%%pAnce50/ Short 49.51%
2.이Bit: Long 49% / Short %
bit announced through its official website that it suspending deposits and withdrawals for Aptos (APT) andIA on May 26 at 23:00: to system maintenance.BBelow $,000
According to toOindeskmarmarket monitoring, BTC is trading trading at $104,.986.94 on the BinanceANCE USDT market.
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