Uk Jin

According to the top gainers of Token Mindshare (a metric quantifying the influence of specific tokens in the virtual asset market) on the AI-based Web3 search platform Kaito, the top 5 keywords related to virtual assets that people are most interested in as of the 1st are Bitcoin (BTC), Initia (INITIA), Tether (USDT), USDC, and Arbitrum (ARB). Bitcoin, the leading virtual asset, ranked first. Bitcoin is experiencing increased volatility ahead of the announcement of President Donald Trump's tariff policy, known as 'Liberation Day,' on the 2nd. This is interpreted as attracting significant interest from investors. As of 12:22 PM on this day, Bitcoin is trading at $83,184, up 1.96% from the previous day. Initia, ranked second, attracted investor interest by disclosing details related to claims ahead of an airdrop. On the previous day, Initia announced detailed rules regarding the airdrop of its token INIT through its official X (formerly Twitter). Initia has allocated 5% of the total supply of INIT tokens, amounting to 50 million, for the airdrop. The majority (89.46%) of the INIT airdrop allocation is designated for testnet participants. Tether and USDC, stablecoins, took the third and fourth spots. The recent expansion of volatility in the virtual asset market due to President Trump's tariff policy has significantly increased the demand for stablecoins. Notably, USDC recently surpassed a market capitalization of $60 billion. Arbitrum ranked fifth. This is due to controversies arising during the voting for members of the Arbitrum OAT committee. Currently, the Arbitrum internal OAT committee is in the process of electing three members. It is known that members receive certain rewards. However, the ability to cheaply purchase voting rights through Lobbify has caused issues. A candidate purchased 20 million ARB voting rights through Lobbify. This has sparked debates within the community regarding the allowance of voting rights purchases and potential governance attacks. Additionally, investors are showing interest in Toncoin (TON), Wayfinder, Bitget Token (BGB), X2Y2, and SuperSeed.

A net outflow was recorded from the Bitcoin (BTC) spot exchange-traded fund. On the 31st (local time), according to Trader T and Farside Investor, a total of $60.4 million was net outflow from the Bitcoin spot ETF. While $15.2 million was net inflow to BlackRock IBIT, net outflows occurred from WisdomTree BTCW (-$32.6 million), ARK Invest ARKB (-$23.2 million), and Bitwise BITB (-$19.9 million).

Bitcoin (BTC) is showing weakness due to recession fears from President Donald Trump's tariff policies, but there is an opinion that it could rise to $250,000 by the end of the year. On the 31st (local time), Arthur Hayes, the founder of BitMEX, stated in a blog post, "The core of Bitcoin's price is technology and fiat currency liquidity," adding, "If the Federal Reserve (Fed) returns to quantitative easing, Bitcoin will rebound from the bottom." He further predicted, "While the U.S. stock market may decline due to tariffs, downward revisions of corporate earnings forecasts, or weak overseas demand, Bitcoin is expected to continue rising and reach $250,000 by year-end."

The family of President Donald Trump has effectively taken control of the decentralized finance (DEFI) project World Liberty Financial (WLFI). According to a Reuters report on the 31st (local time), World Liberty Financial established a new corporation called WLF Holdco LLC in January to handle development and operations. Additionally, Eric Trump, the second son of President Trump, was abruptly added to the board of directors. Simultaneously with the establishment of this company, DT Mask DEFI LLC, an affiliate of the Trump family, acquired a 60% stake, surpassing the previous major shareholders and co-founders of World Liberty Financial, Zack Fokman and Chase Herro, to become the largest shareholder. The Trump family is expected to receive 75% of the net profit and 60% of the operating profit from the token sales of World Liberty Financial. Previously, in mid-March, World Liberty Financial raised $550 million through token sales. As a result, the Trump family will receive $400 million. Meanwhile, the Trump family currently holds 22.5 billion of the 100 billion World Liberty Financial tokens in supply.

The actions of Pump.fun, a meme coin creation protocol based on Solana (SOL), are drawing attention. Amidst the downturn in the meme coin market, PumpSwap, launched as a solution, is gaining significant popularity. According to BeInCrypto, a cryptocurrency-focused media outlet, Pump.fun's decentralized exchange (DEX) PumpSwap recorded a cumulative trading volume of $2.62 billion within approximately two weeks of its launch. The popularity of PumpSwap can also be seen in Pump.fun's revenue. Last year, Pump.fun, which was the hottest platform, faced much criticism from investors due to the worsening sentiment towards meme coins and some celebrity-related meme coins. Consequently, Pump.fun's revenue naturally trended downward. However, since the launch of PumpSwap on the 15th, Pump.fun's revenue has started to rise again. BeInCrypto stated, "While the trading fees of PumpSwap are indeed a remarkable achievement, it is true that the actual revenue growth of Pump.fun is lacking in comparison," but also evaluated, "If PumpSwap's strategy of low fees succeeds and it can win the fierce competition with Solana-based DEXs, it would be positive."

According to Alternative, a virtual asset (cryptocurrency) data provider, the Virtual Asset Fear & Greed Index recorded 34 points, the same as the previous day. As of 9:03 AM, Bitcoin (BTC) is trading at $82,660 on CoinMarketCap, up 0.24% from the previous day. Altcoins also showed a steady trend. At the same time, Ethereum and Binance Coin rose by 1.05% and 0.77%, respectively. Additionally, XRP (-1.51%), Solana (+0.17%), Dogecoin (+0.52%), and ADA (+0.95%) showed volatility around 1%. The Fear & Greed Index is an indicator that expresses market sentiment, with a score closer to 0 indicating extreme fear and closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search trends (10%).

An analysis has revealed that the number of North Korean hacking groups committing crimes in the virtual asset (cryptocurrency) market is increasing. On the 31st (local time), according to the virtual asset specialist media Cointelegraph, Paradigm warned about North Korean hacking groups by excerpting a report titled 'Dismantling the North Korean Threat'. Specifically, according to the report, the existing North Korean hacking groups are Lazarus Group, Spinout, AppleJeus, Dangerous Password, and TraderTrader. Among them, the most well-known hacking organization is Lazarus. Lazarus has committed various hacking crimes, ranging from the 2016 Sony and Bangladesh Bank incidents, the 2017 WannaCry 2.0 ransomware attack, and incidents involving Youbit, Bithumb, the 2022 Ronin Bridge, to Bybit in 2025. Additionally, Paradigm explained that the Lazarus Group might also be behind the recent Solana meme coin scam. Meanwhile, North Korea, which possesses these hacking organizations, currently holds the fourth largest amount of Bitcoin (BTC) in the world. They possess approximately 13,441 Bitcoins, having secured a large amount through the recent Bybit hacking.

The decentralized exchange (DEX) Hyperliquid (HYPE) has significantly increased its market share. According to the cryptocurrency specialist media outlet Cointelegraph on the 31st (local time), Hyperliquid recently recorded a daily trading volume of $4 billion, securing over 60% of the market share among decentralized exchanges. Additionally, Hyperliquid's cumulative number of transactions recently surpassed 50 billion. Cointelegraph evaluated Hyperliquid's progress as the first case of a decentralized exchange creating a competitive structure with centralized exchanges (CEX). In fact, in the cryptocurrency exchange rankings based on open interest size by Coingecko, Hyperliquid recorded $2.9276 billion, ranking 14th among all derivatives exchanges. This is larger than the derivatives exchanges of Crypto.com, BitMEX, and KuCoin.

Bitcoin (BTC) mining company Mara Holdings (formerly Marathon Digital Holdings) is set to raise funds for additional Bitcoin acquisitions. According to Cointelegraph on the 31st (local time), Mara Holdings announced through an 8-K document and prospectus filed with the Securities and Exchange Commission (SEC) that it has entered into an at-the-market agreement to sell up to $2 billion worth of common stock with financial firms such as Cantor Fitzgerald and Barclays Bank. In the document, Mara Holdings explained, "The net proceeds from the $2 billion offering will be used to acquire Bitcoin."

It has been revealed that there is no connection between the United States Department of Government Efficiency (D.O.G.E.) and Dogecoin (DOGE), which had drawn attention for using the same name. On the 31st (local time), Elon Musk, CEO of Tesla and head of the Department of Government Efficiency, participated in a town hall meeting and stated, "It is true that they have the same name, but there is no connection between them." He added, "The US government has no plans to use or adopt Dogecoin." Meanwhile, as of 1:47 PM on this day, Dogecoin is trading at $0.1656, down 3.34% from the previous day according to CoinMarketCap.

Lucy Manche, founder of Movement (MOVE), explained the reason for the large token deposits to exchanges. On the 30th (local time), Lucy clarified on X (formerly Twitter) that "the recent large transfers of Movement tokens to exchanges were not for selling purposes but for preparing institutional products." Previously, on-chain data analysis platform Onchain Lens reported that Movement deposited 17.15 million Movement tokens (approximately $7.74 million at the time) to Coinbase, which angered investors. A crypto influencer criticized, "Movement promised to buy back tokens related to the market maker controversy but failed to keep the promise and deposited a large number of tokens to exchanges for sale." Despite the founder's explanation, investor sentiment towards Movement has cooled significantly. As of 11:43 AM on the 31st (KST), Movement is trading at $0.4206, down 6.74% from the previous day according to CoinMarketCap.

There are claims that Vanguard, the world's largest asset management company, which has been critical of virtual assets (cryptocurrencies), has naturally entered the virtual asset market. This is because GameStop, in which Vanguard is the largest shareholder, has formalized its accumulation of Bitcoin (BTC). On the 30th (local time), Bitcoin.com, a virtual asset specialist media, reported that GameStop issued convertible bonds to accumulate Bitcoin, formalizing its accumulation of Bitcoin, which could lead to Vanguard indirectly investing in Bitcoin. Vanguard is the largest shareholder, holding 8.76% of GameStop's shares. Previously, on the 25th, GameStop announced in a shareholder letter sent along with its earnings report that the board of directors unanimously agreed to introduce Bitcoin as a reserve. If GameStop starts investing in Bitcoin, Vanguard, as the largest shareholder, will naturally indirectly invest in Bitcoin. As a result, Vanguard, which has maintained a conservative stance on virtual assets, such as stating "Bitcoin is a speculative asset" and "No plans to launch a virtual asset ETF," is unexpectedly entering virtual asset investment. Ryan Rasmussen, head of research at Bitwise, expressed surprise on X (formerly Twitter), saying, "Vanguard is buying Bitcoin through GameStop."

As state-level Bitcoin (BTC) related bills continue to emerge in the United States, a bill granting legal rights to economic activities using Bitcoin has been introduced in California. According to Bitcoin.com, a cryptocurrency-focused media outlet, on the 30th (local time), California State Assemblyman Juan Carrillo Valencia has introduced the Digital Financial Assets Law (AB 1052), also known as the 'Bitcoin Rights' bill. The Digital Financial Assets Law includes provisions such as ▲ guaranteeing the legal right to self-custody of Bitcoin, ▲ prohibiting the imposition of taxes and restrictions related to Bitcoin payments. Additionally, it includes a provision prohibiting public officials from issuing or sponsoring digital asset products.

According to Alternative, a virtual asset (cryptocurrency) data provider, the Virtual Asset Fear & Greed Index recorded 34 points, up 2 points from the previous day. As of 9:03 AM, Bitcoin (BTC) is trading at $82,386 on CoinMarketCap, down 0.24% from the previous day. Altcoins showed a steady trend. At the same time, Ethereum and Binance Coin fell by 1.10% and 0.13%, respectively. On the other hand, XRP and Solana rose by 0.10% and 0.34%, respectively. Additionally, Dogecoin (-1.56%) and ADA (-1.74%) also showed a slight downward trend. The Fear & Greed Index is an indicator that expresses market sentiment, with a score closer to 0 indicating extreme fear and closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search trends (10%).

An analysis has emerged that long-term and large investors have started accumulating Bitcoin (BTC). On the 30th (local time), AxelAdlerJr (AAJ), a contributor to CryptoQuant, stated, "Recently, the Value Days Destroyed (VDD) indicator is recording a low," and analyzed that "this indicates that the time has come for long-term and large investors to accumulate Bitcoin." The VDD indicator is an on-chain metric that observes the movement of long-held Bitcoins. The higher the indicator, the more transactions of long-held Bitcoins, and conversely, the lower the indicator, the fewer transactions of long-held Bitcoins. According to the chart shared by AAJ, VDD recorded its lowest point in January and October 2023, October 2024, and March 2025. AAJ explained, "The fact that long-term holders are not selling means that the current Bitcoin price is unsuitable for profit-taking," and "historically, Bitcoin prices have risen after the VDD bottomed out."

There is an opinion that the number of companies accumulating Bitcoin (BTC), the leading cryptocurrency, may gradually increase. According to CoinDesk, a cryptocurrency specialist media outlet, on the 30th (local time), Elliott Chun, a partner at Architect Partners, predicted that "25% of S&P500 companies will hold Bitcoin as a long-term asset by 2030." He explained that Strategy's (formerly MicroStrategy) Bitcoin accumulation strategy could serve as a catalyst for other companies. Chun stated, "Since starting to accumulate Bitcoin, Strategy's stock price has risen by 2000%," adding, "This surpasses the growth rates of Bitcoin and the S&P500 during the same period." He further added, "Companies can no longer ignore Bitcoin." According to Bitcoin Treasuries data, 90 companies currently hold Bitcoin. The Bitcoin they hold amounts to 665,618, accounting for 3.17% of the total circulation.