In the early hours of Tuesday, May 27, the crypto market experienced slight downward pressure as Bitcoin (BTC) approached a significant resistance level at $110,000.
According to CoinGecko data, BTC is currently trading around $109,200, showing minimal movement over the past 24 hours. Most top cryptocurrencies remained relatively stable, except for SOL and XRP, which both declined by nearly 2%.
Notable outperformers include:
- NULS: +21%
- SNT: +11%
- FXS: +10%
- MASK: +9%
Major Highlights:
- $BTC: Strategy (formerly MicroStrategy) announced the purchase of an additional 4,020 BTC (approximately $427 million) last week (May 19–25) at an average price of $106,237 per BTC. The company now holds a total of 580,250 BTC, valued at nearly $64 billion.
- $USDT: Over the past week, Tether minted an additional 2 billion USDT but subsequently burned 1.5 billion USDT. Overall, centralized exchanges recorded a net outflow of 365 million USDT and a net inflow of 1.56 billion USDC.
- Nvidia is set to announce its earnings tomorrow (May 28), which could significantly impact AI-related tokens.
Other Noteworthy Information:
- $BTC: Trump Media & Technology Group (TMTG) denied rumors about raising an additional $3 billion to purchase BTC and other cryptocurrencies. TMTG criticized the Financial Times (FT), accusing its reporters of spreading false information.
- $XRP: Dubai’s Land Department has partnered with Ctrl Alt to launch a real estate tokenization initiative on the XRP Ledger. This project allows for fractional property ownership with a minimum investment of $545 (2,000 AED).
- $PFVS: Binance Alpha is conducting an airdrop of the PFVS (Puffverse) token to users today (May 27). Eligibility criteria based on Alpha scores will be announced later.
- $ELDE: Between 3 PM and 5 PM today (May 27), users can register to participate in the Elderglade (ELDE) IDO. The required Alpha score for participation will be disclosed today.
- U.S. Vice President JD Vance, along with President Trump’s two sons, will speak at the Bitcoin 2025 Conference in Las Vegas this week.
Note: This article is for informational purposes only and does not constitute investment advice. Investors should thoroughly understand the crypto market and exercise caution before making investment decisions. Stay tuned to Block24 for the latest crypto news!
