GENIUS price

#Bitcoin #Wyckoff Accumulation Feb/June 16th - entering final Phase. IMO: #GENIUS Act or FOMC will be used as the markup narrative.

From Shopify x USDC to Circle's IPO, the convergence of TradFi, stablecoins, and on-chain infra is accelerating. The rails are being laid across payments, policy, and AI. @PythNetwork this week’s digest captures the shift.👇

Following @circle's successful listing, the number of DeFI players seeking to #IPO continues to grow. There's a marked increase in institutional appetite for #stablecoins across multiple regions and sectors - not just in the US where the #GENIUSAct looks certain to pass. On the #tokenization front, TradFi and DeFi continue to converge through expansions, deployments, new features and products. From integrations, innovations, partnerships and more, we’ve summarised key developments over the course of the week, right here. 🕉️

The big drop is coming! 24-hour event in the crypto circle! 1 minute quick overview of the overnight market 1. Israel launched an attack on Iran, striking dozens of targets related to its nuclear program and other military facilities in Iran, and #BTC and other crypto assets plummeted; 2. The market capitalisation of #Meme coins #aura on the Solana chain has now fallen back to $140 million. #LABUBU fell to 42.6 million; 3. Uniswap Wallet enables the smart wallet function and supports one-click exchange; 4. #WLFI The official website has added exchange, lending and APP modules, but the functions have not yet been opened; 5. Bloomberg: Tencent plans to acquire Nexon, the developer of "DNF" and "Mapleshima", #NXPC so it rose for a short time; 6. #Binance Wallet will launch a new phase of TGE on the afternoon of the 13th, namely KAI Battle of Three Kingdom (#SGC); 7. The SEC formally repealed the proposal to expand the scope of the "custody rule" and the relevant regulatory rule 3b-16 of #DeFi; 8. The U.S. Senate will hold a final vote on the stablecoin #GENIUS bill on June 17; 9. Ant International's response to applying for a stablecoin license in Hong Kong: submit it as soon as possible after the relevant channel opens; 10. Singapore's regulator urged crypto trading platforms that do not hold local licenses to quickly exit.

Ethereum's ether ETH token, which has been in the shadows of bitcoin BTC for a long time, is now becoming the new favorite. Data from TradingView shows that the spread between Volmex's annualized 30-day ether implied volatility index (EVIV) and bitcoin's 30-day index (BVIV) has jumped to 34%, the highest since November 2022. Back then, the FTX exchange went bust, destroying billions in investor wealth. The widening spread indicates that the market expects significantly larger price swings for ether, and perhaps the broader crypto market, compared to bitcoin in the coming weeks. Ether has recently outshone bitcoin in terms of price gains, largely due to renewed institutional interest in the cryptocurrency. Notably, in the past 24 hours, ether has risen 8% to $2,728, outperforming almost every major cryptocurrency, including market leader bitcoin, which has gained just 1%, CoinDesk data show. "Ethereum is pumping up with new money. Over the past two weeks, Ethereum ETFs have attracted $812 million, the biggest amount since the beginning of this year," Alex Kuptsikevich, chief market analyst at The FxPro said in an email. While inflows into the ether spot ETFs have picked up pace, BTC ETFs have managed to draw in less than $400 million in the past two weeks, according to data source SoSoValue. According to the Singapore-based trading firm QCP, several factors have aligned in favor of the ether bulls. "Looking ahead, macro tailwinds are aligning for ETH. With the GENIUS Act advancing in the US Senate, Circle’s IPO discussions resurfacing, and stablecoins gaining regulatory traction, Ethereum’s native role in tokenization and settlement rails may be primed for outsized structural upside," QCP said in a market update. The bias for ether is also evident from the fact that on options exchange Deribit, ETH call options are trading at a premium of at least 2% to 3% relative to puts out to the March 2027 expiry. On the contrary, BTC calls are trading at 0.5%-1.5% premium, according to data source Amberdata. In other words, traders are paying more for the upside exposure in ether compared to bitcoin. "ETH options markets have surged with 30-day call-skew hitting 6.24% and funding rates spiking to 0.009%, while the term structure of volatility has reinverted once more," analytics firm Block Scholes said in its daily report. Read more: Asia Morning Briefing: BTC Slips Below $110K as 'Signs of Fatigue' Emerging