The daily crypto market over the past 24 hours has been dynamic, with Bitcoin experiencing volatility after hitting a record $112,000 on May 23, and the BNB Chain Maxwell upgrade emerging as a key highlight.
Daily Crypto Market Highlights
The daily crypto market saw Bitcoin drop 4% to around $110,000 after its all-time high, with over $550 million liquidated in a price whipsaw, reflecting short-term volatility.
Altcoins showed mixed performance, with Aave (AAVE) up 24.3% to $267.23 and Curve DAO (CRV) rising 11% to $0.7346, driven by institutional adoption and positive sentiment.
However, most altcoins, including Ethereum and Solana, lag behind Bitcoin year-to-date, down 30% and 11%, respectively. The crypto market cap rose 1.2% to $3.46 trillion, signaling sustained strength.
Meme Coin Trendings
- $moonelon: Launched on the Solana blockchain, it aimed to capitalize on the popularity of Elon Musk and the “to the moon” meme culture that dominates crypto communities.
- $SWARM: hosted on the X platform’s The Swarm community, it leverages viral marketing to spark interest. Every time a new member joins The Swarm, a unique token is minted on @pumpdotfun, named “ joined The Swarm,” linking directly to the user’s X account.
- $GIB: Launched on the Bonk Launch ecosystem, it is making waves with its frog-themed charm and infectious slogan, “Live, Laugh, Gib.”
- $B: The token and BUILDon @BUILDonBsc_AI are partnered with a strong community consisting of Binance and USD1 and @Worldlibertyfi, whose strategic listings and approvals are propelling its growth in a high-speed manner.
Check out all these meme coins on the MevX blog.
BNB Chain Maxwell Upgrade
The BNB Chain Maxwell upgrade, announced on May 23, is a cornerstone of BNB Smart Chain’s 2025 roadmap, with testnet launch set for May 26, 2025, and mainnet activation on June 30, 2025. This hard fork aims to enhance scalability and efficiency, positioning BSC as a DeFi leader. Key features include:
- Faster Transactions: Reduced block times to boost transaction throughput.
- Lower Gas Fees: Optimized costs for DeFi and dApp interactions.
- Enhanced EVM Compatibility: Improved support for Ethereum-based smart contracts.
- Staking and Governance: Streamlined processes for BNB holders.
Maxwell drove an 85% surge in DEX trading volume last week, outpacing Ethereum and Solana, reinforcing BNB Chain’s DeFi dominance.
Other Notable Developments
- Bitcoin Volatility: Posts on X highlight Bitcoin’s drop as a reaction to Trump’s tariff threats on EU products and iPhones, impacting risk sentiment.
- Regulatory Tailwinds: The U.S. Senate’s stablecoin legislation and SEC Chair Paul Atkins’ crypto-friendly policies signal a supportive environment.
- Coinbase Milestone: Coinbase’s S&P 500 inclusion and its $2.9 billion Deribit acquisition underscore crypto’s growing mainstream acceptance.
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