Key Market Insights for May 21st, how much did you miss out?

Featured News

1.Hong Kong Legislative Council Passes Final Reading of "Stablecoin Bill," Application for Compliant Issuance Opens by Year-End

2.Bitwise CIO: Stablecoin Legislation Could Set the Stage for a Multi-Year Bull Market in Crypto

3.Opinion: CME XRP Futures See Over $19 Million in Trading Volume on First Day, Approval of XRP Spot ETF Just a Matter of Time

4.James Wynn's 40x Leveraged BTC Long Position Shows $19.83 Million Profit

5.Theta Capital Raises Over $175 Million to Invest in Blockchain Startups

Trending Topics

Source: Overheard on CT (tg: @overheardonct), Kaito

COOKIE DAO: COOKIE DAO has gained significant attention on Twitter due to its newly launched SNAPS initiative. The platform, focusing on user experience, rewards users who have long supported specific projects, receiving much acclaim. Many users actively shared referral links, demonstrating a continued surge in market interest. Discussions widely believe that COOKIE DAO has tremendous potential in the decentralized information finance (InfoFi) field, with users showing strong enthusiasm for its ecosystem participation and reward mechanism.

OBJKT: Today's Twitter discussions about OBJKT center around NFT platform airdrops and the art collection craze. Works by Ferdoropeza, such as "Wash Memetics NFT Zombie Formalism" and "Garden Landscape," shined in the #objkt4objkt event. The collaborative mural exhibit "Resonance of Light" by @omgidrawedit and @sutu_eats_flies, along with OBJKT's homepage-generated art curation, sparked high engagement. Community activity saw a significant boost, with users eagerly sharing updates on collections like "Dreaming in the Clouds" and "Man with a Flowered Hat."

AVAX: The current hot topic of discussion around AVAX is focused on the London Avalanche Summit, with key updates including the launch of the on-chain Avalanche DEX "Blackhole," integration of AVAX with Family applications, the launch of the Red Bull Arena NFT ticketing system, and the debut of the "Fusion" blockchain ecosystem aimed at real-world applications. The summit featured a gaming and AI forum, and participation by notable figures such as @el33th4xor and @StaniKulechov further increased attention.

HUMAFINANCE: Huma Finance is causing a buzz today due to a strategic move: the decision to allocate 0.5% of tokens to active Kaito users has significantly increased visibility. The project stands out for its innovation in the PayFi sector, enabling cross-border payments and liquidity solutions using stablecoins like USDC, and has partnered with Solana, Circle, and others. Its rapidly rising transaction volume has positioned it as a benchmark project in the DeFi and PayFi space.

XTZ: Tezos is at the forefront of discussions today regarding progress in the art ecosystem: the appointment of Trilitech's new COO, the acquisition of the Kanbas art series, and the continuation of the weekly "Tezos Tuesday" digital art showcase events that highlight the platform's artistic influence. The U.S. Senate's passage of the GENIUS Act may have policy implications for Tezos' native stablecoin USDtz, and the community has shown strong confidence in its potential in the art field.

Featured Articles

1. "Week 19 On-Chain Data: When the 'Altcoin Season Expectation' Meets the BTC Siphon Effect, When Will the Bull Market Return?"

The on-chain analysis report published by WatchToweR Crypto shows that the current Bitcoin market is in the accumulation phase of the bull market. At the macro level, the loose expectations triggered by the U.S. credit rating downgrade and progress in crypto regulation have fueled continued inflows into BTC/ETH spot ETFs. Additionally, on-chain data shows that the share of long-term holders' chips has increased to 65% and exchange balances have dropped to 12%. Market selling pressure has significantly weakened, with a strong support forming at $94,369 in the short term. Analysts believe that if BTC can break its previous all-time high of $110,000, it may trigger an altcoin rally. However, caution is advised regarding the high-risk state of the derivatives market, which could lead to short-term volatility.

2. "a16z Leads $18 Million Seed Round in Catena Labs, Crypto Industry Bets on Stablecoin AI Payments"

Financial technology company Catena Labs, founded by Circle co-founder Sean Neville, has completed an $18 million seed round financing led by a16z Crypto. The company is dedicated to building AI-native financial infrastructure, providing authentication and automatic payment services for AI agents through the open-source Agent Commerce Kit protocol, aiming to address the incompatibility of traditional financial systems with AI. Despite not having launched a specific product yet, leveraging the founding team's experience in USDC development and technical background, the project has demonstrated a forward-looking layout and competitive advantage in the AI + fintech field.

On-chain Data

On-chain Fund Flow on May 21