Crypto News Today: Market Holds Breath Ahead of U.S. Data

Crypto market up 0.40%, market cap at $2.68 trillion

• Market performance depends on key economic indicators like U.S. CPI, PPI, and Federal Reserve actions.

• Digital asset exchange Binance reached a milestone of 200 million global users and aims for 1 billion as crypto adoption grows.

Major Events To Watch

Crypto Fear and Greed Index:

The Crypto Fear and Greed Indicator shows market sentiment at 72 (Greed) today, down from 75 yesterday and 73 last week.

Crypto market significantly rose in the last 24 hours

TOP 5 Gainers Coins

Latest Market Update:

• #Bitcoin ($BTC) retreated to the $69,500 range early Monday, wiping out gains from last week.

• Other major altcoins like #Wormhole ($W), #Dogecoin ($DOGE), #Ripple ($XRP), #Solana ($SOL), and #Litecoin ($LTC) experienced slight fluctuations.

• The #Mantra ($OM) token surged by over 17% in 24 hours, emerging as the top gainer.

• On the contrary, $ORDI experienced the most significant loss, dropping nearly 4% in the same timeframe.

• Over the past 24 hours, the total crypto market volume stands at $48.96 billion, marking a 7.49% decrease.

• DeFi contributes $4.38 billion, comprising 8.95% of the total.

• Stable coins contribute $45.33 billion, representing 92.57% of the total volume.

• Bitcoin's dominance sits at 54.01%, up by 0.07% from the previous day.

Major Worldwide News Update:

• Last week, the crypto market started positively but turned bearish due to robust U.S. job data, hinting at a hawkish Fed stance. Investors eye upcoming events: U.S. CPI & PPI data, FOMC interest rate decision, Powell's conference, and ECB's recent rate cut. These factors will shape market sentiment and future trends.

• Binance celebrates 200 million global users amid web3 growth and rising crypto prices. CEO Richard Teng emphasizes community collaboration. Despite success, regulatory hurdles persist, including a US lawsuit and a $4.3B settlement with former CEO's resignation. Binance remains a key player in the crypto market.

• Crypto theft incidents surge as hackers exploit SMS security flaws on OKX exchange, similar to recent Binance breach. SlowMist tracks hacker activity, while OKX vows to investigate and compensate victims. Lack of 2FA raises concerns. Binance hacker used sophisticated tactics to evade detection, manipulating USDT trades for profit.

• Ahmed Shadid steps down as IO.NET CEO, citing community benefit. Tory Green assumes CEO role. Allegations of fraud against Shadid prompt resignation to prevent distraction from IO.NET's growth. Shadid donates 1M IO tokens to ecosystem. IO.NET unveils tokenomics, Binance lists IO token as 55th Launchpool project, trading starts June 11.

• The Orbit Chain hacker moves $47.7 million to Tornado Cash, following a $82 million New Year's Eve hack. Total losses estimated near $100 million. Orbit Chain implements Inter-Blockchain Communication Protocol. The hack prompts a decline in total value locked on the chain, down to $37 million from a peak of $313 million.

• During his election campaign, Trump champions the crypto industry, promising favorable legislation. He raises $12 million in a San Francisco fundraiser, supported by tech figures. Criticizing Democrats' stance on crypto, he pledges to ease regulations. Biden's recent actions, like vetoing SEC guideline repeal, alienate crypto supporters.

• Cardano's Charles Hoskinson teases Cardano Node 9.0 launch, heralding enhanced decentralized governance. Despite past criticism, Cardano aims for a significant milestone, emphasizing advanced blockchain governance. ADA price speculation rises, with potential decoupling from Bitcoin, fueled by increased investor demand post-hard fork.

COIN GABBAR Views: Why did the Bitcoin price crash below $70K, and is the bleeding over? Will the BTC price reach $80,000 with the FOMC meeting this week? To get latest news Stay tuned us at coingabbar

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