The frenzy of on-chain speculation continues to heat up, with old meme coins and new algorithmic stablecoins dancing together.

On May 31, MicroStrategy founder Michael Saylor once again shared details about the Bitcoin Tracker. Per its usual practice, the company typically discloses news of additional Bitcoin purchases two days after releasing such related information.

May 31, per HTX market data, Bitcoin is trading at $73,951.23, with a 24-hour gain of 0.38%. Ethereum currently stands at $2,024.25, up 0.32% over the past day, reclaiming the key psychological $2,000 level. Mainstream centralized exchange (CEX) funding rates show Bitcoin sentiment has improved significantly compared to the prior two days, with most platforms hovering near the 0.01% benchmark—indicating gathering bullish momentum. Ethereum’s overall sentiment remains neutral: while some bearish pressure has eased, it has not yet formed clear bullish signals, and its sentiment recovery is weaker than Bitcoin’s. BlockBeats Note: Funding rates are a mechanism used by cryptocurrency exchanges to keep perpetual contract prices aligned with the underlying asset’s price. It is a system where funds are exchanged between long and short traders; platforms do not collect this fee. The rate adjusts the costs or profits for traders holding contracts to ensure contract prices stay close to the und

May 31 — Communications over a potential memorandum of understanding (MOU) between Iran and the United States remain ongoing, Iran’s Tasnim News Agency reported. Both sides have been submitting proposed amendments in turn, and no final agreement has been reached as of yet. (FX168)

May 31 – Cryptocurrency analyst Marcus Corvinus noted that Bitcoin (BTC) has recently bounced back from a key on-chain support level around $71,400. This level marks the average holding cost for HODLers who’ve held their coins for 3 to 6 months, making it the most critical short-term support zone for the leading crypto right now. Corvinus added that since this group is still in profitable territory, they have a strong incentive to hold their positions in this price range. If the rebound extends, BTC’s next potential target is $78,200, which aligns with the average holding cost for 6 to 12-month long-term investors. Data from on-chain analytics firm Glassnode shows that since 2017, after Bitcoin breaks above the cost basis of those 3-6 month HODLers, its average price gains hit 21.9% over the subsequent 90 days and 36.6% over 180 days. Based on BTC’s current price of roughly $74,000, that would translate to target prices of around $90,200 and $101,100 respectively. However, from a te

May 31 — JPMorgan Chase CEO Jamie Dimon is sounding the alarm over the U.S. crypto market structure bill, the CLARITY Act, warning that if stablecoin issuers are allowed to offer returns similar to bank deposit interest without proper regulatory protections, the model could ultimately "blow up." Dimon pointed out the legislation would let crypto companies offer returns akin to deposit rates via stablecoin accounts—a setup lacking sufficient safeguards that the banking sector won’t accept. “I’m not worried about stablecoins themselves, but if this were to happen, I wouldn’t be involved, and it will eventually blow up,” he said. The CLARITY Act aims to clarify the U.S. crypto industry’s regulatory framework and outline responsibilities for various regulatory agencies. Earlier, Patrick Witt, director of the U.S. Digital Asset Advisory Committee, noted the Trump administration plans to move the bill through by July 4. However, Polymarket data shows the probability of the CLARITY Act

On Friday, May 31, the Hyperliquid ETF notched a record single-day net inflow of $29.6 million. The breakdown of this total is as follows: BHYP recorded a net inflow of $20.1 million, while THYP posted a net inflow of $9.5 million. The fund has now logged net inflows for 13 consecutive trading days, bringing its cumulative total inflows to $136 million. This continuous flow of funds has boosted HYPE’s performance. Per HTX market data, HYPE has surged over 70% in the past 30 days and is currently trading at $68.3.