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Here's a quick preview of today’s content: Bitcoin hits another all time high (we lost how many times that’s happened this past week),there’s some fishy activity detected with PUMP coins launch, Hungary is not playing around with crypto enforcement, someone fumbled their PUMP coin bag, Ordinals look to make a comeback, the most bullish chart in crypto, and much more

Has there been a more exciting past 5 days in crypto?

Happy Tuesday 😊 - Let’s dive in.

Market Snapshot

• Bitcoin has hit a new all-time high above $123,000, continuing its strong upward momentum and pushing the overall crypto market higher

• Institutional investment is booming, with record-breaking inflows into spot Bitcoin ETFs and billions in new capital entering the space over the past few weeks.

• U.S. lawmakers are in the midst of 'Crypto Week' debating multiple bills aimed at providing regulatory clarity, which is boosting investor confidence

Market Predictions

• Bettors on Kalshi are predicting how high Ethereum will get this year - trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Crypto regulation enters "Crypto Week" in U.S. Congress - a full rundown of what’s at stake here

• Grayscale files confidential IPO plan with SEC (TD)

• TD Cowen ups Strategy’s share price target significantly and forecasts $155K Bitcoin by 2026 (BM)

• Pump.fun’s record ICO flooded by coordinated wallet participation with one wallet funding 500 different addresses (TB)

• A blockchain researcher accidentally burned approximately $58,000 worth of Pump.fun’s PUMP token on Solana (DC)

• $829B Bernstein Research predicts $200,000 by early 2026 (BM)

• Judge tosses out NFT lawsuit against Dolce & Gabbana USA (DC)

• Securitize CEO Carlos Domingo says RWAs (real world assets) could top $35B by year-end - full statements here

• Decentralized lender Aave surpasses $50B in net deposits (TB)

• BlockFi co-founder Flori Gilroy hired to lead revamped SoFi crypto unit (BW)

• Ripple’s RLUSD stablecoin just rose above $515M this week, flipping troubled stablecoin TrueUSD (TUSD) (TD)

• Bhutan moves over $62M in bitcoin to Binance in past four days (TB)

• Kamino becomes first major DeFi lender to accept tokenized stocks as collateral (TD)

• Bitcoin becomes world’s fifth-largest asset by market cap (TB)

• Daily Bitcoin Ordinals sales volume soar to strongest level since December (CS)

• Kazakhstan considers investing national reserves in Bitcoin (BM)

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Venture Capital

• Bit Digital, which recently launched its ETH treasury strategy, plans to raise $67.3M through a direct offering to institutional investors (TB)

M&A Announcements

• Sonnet BioTherapeutics, a clinical-stage biotechnology company, to merge with Rorschach I LLC in an all-stock deal, forming a $888M crypto treasury firm (TD)

• Ondo Finance announced the acquisition of blockchain developer Strangelove, aiming to enhance its onchain capabilities for RWAs (TB)

• Metaplanet acquires additional 797 BTC and becomes title sponsor of ‘Bitcoin Asia 2025’ (BM)

• Sequans Communications, a cellular IoT semiconductor company, announces the purchase of an additional 683 Bitcoin for approximately $79M (BM)

Launches

• Binance is launching a dynamic bonding curve token launch model, echoing Pump.fun’s mechanism (TB)

Regulation

• Rep. Maxine Waters has warned the GENIUS and CLARITY Acts would gut consumer protections, even saying 'I told you so' - full statements here

• Hungary enforces strict crypto restrictions, including penalties for unlicensed exchange users (TB)

• Hungary to jail crypto traders for 5 Years for using “unauthorised” platforms (FM)

Extra Reads

• With nearly $400T in global value, real estate is the world’s largest asset class, over three times the size of the global stock market and nearly 4x global GDP - Why Bitcoin Is Draining The Value Out Of Real Estate

Chart of the Day

The most bullish chart in crypto

Meme Dump

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