Golden Morning News Cryptocurrency total market value surpasses 25 trillion US dollars Rune market value falls below 19 billion US dollars threshold

Top Headlines
▌Cryptocurrency Market Cap Surpasses $2.5 Trillion
Data indicates that the total cryptocurrency market cap has now surpassed $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. Bitcoin (BTC) currently holds a market share of 51.1%, while Ethereum (ETH) holds 16.8%.
▌Rune Market Cap Falls Below $19 Billion
According to Geniidata, the market cap of Rune has dropped to $18.8 billion, with a decrease of 0.02%. Today, the total trading volume of Rune has decreased to $5.63 million, down by 12.92% from yesterday. Additionally, the price of Rune’s DOG•GO•TO•THE•MOON token is $0.0073, with a daily trading volume dropping to $0.7416 million, bringing its market cap down to $7.11 billion.
Market Trends
As of the time of writing, according to Coingecko data:
BTC recent trading price is $66,617.42, with a 0.6% increase in the last 24 hours;
ETH recent trading price is $3,618.94, with a 0.49% increase in the last 24 hours;
BNB recent trading price is $603.20, with a 1.5% increase in the last 24 hours;
SOL recent trading price is $151.05, with a 3.9% increase in the last 24 hours;
DOGE recent trading price is $0.137, with a 0.2% increase in the last 24 hours;
XPR recent trading price is $0.4888, with a -0.4% decrease in the last 24 hours.
Policy
▌El Salvador Government Advocates for Inclusion of Bitcoin and Other Cryptocurrencies in Investment Banking Sector
The government of El Salvador has put forth an initiative to expedite the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. A banking law reform submitted to the National Assembly will allow private investors to establish banks that provide services of Bitcoin and stablecoins to sophisticated investors.
If approved, this initiative will enable the creation of banks that offer 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 doors for crypto-based investment instruments. Nevertheless, the requirements for establishing private investment banks are stringent: these companies must have a capital of $50 million upon establishment.
Moreover, these banks will not cater to all Salvadorans as their services will focus on “professional investors.” These individuals must prove ownership of at least $250,000 in assets and pass a knowledge test related to banking, or demonstrate ownership of $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
Data from the Curve website shows that the native stablecoin crvUSD has a minted quantity exceeding 131 million, totaling 131,341,895 at 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 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 ecosystems in terms of TVL are as follows:
Aerodrome TVL at $627 million, with a 7-day decrease of 8.45%;
Compound V3 TVL at $324 million, with a 7-day decrease of 13.95%;
Extra Finance TVL at $112 million, with a 7-day decrease of 5.55%.
▌Solana Blockchain TVL Currently at $4.337 Billion
According to the latest data from CoinGecko, the current Total Value Locked (TVL) on the Solana blockchain is $4.337 billion, with a 0.5% increase in the last 24 hours; the 24-hour trading volume is $880.331 million, with a decrease of 4.7%.
▌In the Last 24 Hours, 1276.01 BTC Entered Exchange Wallets
Recent data indicates that 1276.01 BTC entered exchange wallets in the last 24 hours, while 16606.12 BTC exited exchange wallets in the last 7 days and 94243.42 BTC exited exchange wallets in the last 30 days. 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 for Mainnet Version in the Coming Days
The closed testing period for Floki’s trading bot has officially concluded. This period lasted for three weeks from May 27, 2024, to June 14, 2024. Floki will release more information about the trading bot when they publicly launch the mainnet version in the upcoming days.
Floki’s trading bot will use Floki as its primary utility token, with 50% of the trading fees automatically used to purchase and burn Floki tokens.
Important Economic Insights
▌CME Fed Watch: Probability of the Fed Maintaining Interest Rates in August at 87.6%
According to CME’s “Fed Watch” data, the probability of the Fed maintaining interest rates in August is 87.6%, with a 12.4% probability of a 25 basis point rate hike.
Golden Encyclopedia
▌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 when the contract expires. Unlike traditional futures, the seller benefits from a decrease in price.