Stablecoin Total Market Cap Grew by 0.45% in the Past 7 Days, Surpassing $243.8 Billion

On May 17th, based on Coinglass data, the current funding rates of mainstream CEX and DEX show that the market has a tendency to be bearish in trading. Please refer to the specific funding rates for mainstream coins as shown in the attached image. BlockBeats Note: The funding rate is a rate set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a mechanism for fund exchange between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.

On May 17th, based on HyperInsight data, a whale has just withdrawn 999,999 USDC from Hyperliquid. In total, 8,999,991 USDC have been withdrawn from Hyperliquid in the past 24 hours.

May 17th. According to official information, the MEME project BUILDon within the BNB Chain ecosystem (referred to as B) announced that it will jointly hold a trading competition with a trading volume of USD1 together with the Fourmeme platform. The prize pool for this competition reaches up to $200,000. The trading competition will officially commence at 20:00 UTC on May 17th, with the aim of further promoting the practical application of the USD1 stablecoin in on-chain scenarios. BUILDon, as a MEME project with the core concept of "building on the BNB Chain", took the lead in actively responding to the call to build the decentralized stable asset USD1 on the BNB Chain and became the first on-chain project to fully support and integrate the USD1 stablecoin. Decentralized stable assets are a key foundation for the future development of Web3, and the deep cooperation between B and USD1 is a manifestation of this strategic direction. According to CoinMarketCap data, the trading volume o

On May 17th, as per official channels, the U.S. Securities and Exchange Commission (SEC) declared that it is scheduled to hold a roundtable discussion on June 26th with representatives from listed companies, investors, and relevant experts to deliberate on executive compensation disclosure requirements. The SEC pointed out that executive compensation disclosure requirements are continuously expanding and are increasingly focusing on changes in the various components of compensation rather than the total amount of compensation. "It remains unclear whether the enhanced complexity provides investors with additional information that is crucial for investment and voting decisions." However, a retrospective review of executive compensation disclosure rules must be carried out to ensure that these rules remain cost-effective, providing key information disclosure while avoiding excessive non-essential information.

On May 17th, as per Decrypt, Zach Pandl, the Director of Research at Grayscale, declared that "When the market focuses on macroeconomic instability and the risks faced by the US dollar, Bitcoin's dominance may rise. Conversely, when the market focuses on various applications of blockchain technology and innovation in the crypto space, Bitcoin's dominance may decline." Bitcoin has reaped benefits from being regarded as a "non-sovereign asset" similar to gold and has also absorbed the majority of the inflows in the crypto market through products like the approved ETF last year. Over the next approximately 9 to 12 months, it is more likely that Bitcoin's market share will stabilize between 60% and 70% of the overall crypto market rather than experiencing a sharp decline. This judgment is not straightforward as both Bitcoin and altcoins have different bullish factors that could come into play. From a macro perspective, we are optimistic about Bitcoin; and from a technological developmen

On May 17th, as monitored by Onchain Lens, the whale address "lxuan.eth" deposited 2.04 million USDC into Hyperliquid and bought 74,893 HYPE tokens at a price of $27.34 per token.