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The S&P 500 is up 0.5% for the week, holding modest gains despite Fed caution and rising geopolitical tensions. Gold hovers near $3,350 support as easing Middle East tensions weaken safe-haven demand. Key levels: $3,318 below, $3,377 above. The short-term outlook remains neutral. The Coindesk Indices, which tracks the broader crypto market, fell 0.37%, with Bitcoin up 0.44% and Ether down 0.88%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
Today’s top performer is SEI, up 9.7% after Sei Network was selected as a candidate for WYST, the first U.S. state-issued stablecoin.
Sei Network (SEI), launched on August 16, 2023, is an Ethereum-based Layer 1 blockchain designed for high-speed trading, featuring parallelization and automatic order bundling to enable rapid finality and support massive user activity. Sei Network has been selected as a candidate blockchain for WYST, the first fiat-backed stablecoin issued by a U.S. state. The stablecoin will be deployed via LayerZero, with details available on the Wyoming Stable Token Commission's site.
Revolut is exploring the launch of its own stablecoin, engaging with at least one crypto-native firm as it expands its crypto offerings. The move aligns with a broader trend of major firms entering the stablecoin space amid favorable U.S. legislation like the GENIUS Act. With 55 million users and a $48B valuation, Revolut joins other financial giants eyeing stablecoins to reduce payment costs, speed up settlements, and earn yield on reserves.
Category | Flow (millions) |
GBTC | - |
Non-GBTC | - |
Total | 0.0 |
Yesterday, BTC spot ETFs saw zero net flows, with no activity from either GBTC or non-GBTC funds. The pause was due to the U.S. market closure for the Juneteenth holiday.
Blum's airdrop allocation checker is now live on Telegram. Users can check their $BLUM eligibility, with 30% claimable on launch day and the rest vesting daily over 180 days. Unclaimed tokens will be burned. Total supply is 1B, with estimated listing price between $0.30–$0.50. Claim date is yet to be announced.