Global #cryptocurrency market

Institutional investors have made a significant entrance into the cryptocurrency market, particularly following the introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States.

Bitcoin (BTC) has surpassed the $71,000 threshold, marking its first time crossing this milestone since April 12. Presently, it's trading at $71,200.

In recent times, the cryptocurrency market has seen a pattern where tokens are introduced with substantial fully diluted valuations (FDVs) but relatively low initial circulating supplies.

Solana has emerged as the frontrunner among major blockchains, demonstrating remarkable speed by handling an astounding 91 million transactions within a single day.

Over the past 24 hours, the trading volume of Cardano (ADA) surged by approximately 41.95%, reaching $461.96 million, indicating a notable uptick in interest in the cryptocurrency. ADA has emerged as one of the beneficiaries of the recent cryptocurrency market rally.

Over the past six months, investors who purchased the latest cryptocurrency listings on Binance, the leading cryptocurrency exchange, have experienced a collective decline of over 18%.

Today, May 17, is a notable day in the cryptocurrency market as a significant volume of Bitcoin (BTC) and Ethereum (ETH) options contracts, totaling over $2.1 billion, are scheduled to expire.

Tether, the creator of USDT, has utilized its treasury to generate a substantial volume of its stablecoin. According to on-chain data, Tether Treasury produced 1 billion USDT on May 16, specifically at 16:50 UTC.

The dynamic cryptocurrency market constantly presents a range of opportunities for investors, with numerous emerging coins garnering notable attention. Notable contenders such as Pepe Coin (PEPE), Shiba Inu (SHIB), Dogwifhat (WIF) have captured interest, each showcasing distinct potential and prospects for growth.

Today, the price of Pepe Coin has increased by 3.5%, reaching $0.00001114. This rise comes amidst a slight 0.3% dip in the broader cryptocurrency market.

Circle, a stablecoin issuer, intends to shift its legal headquarters from the Republic of Ireland to the United States. According to a report from Bloomberg on Wednesday, the company has filed court documents for this relocation.

The State of Wisconsin Investment Board (SWIB) has entered the cryptocurrency market with a substantial investment of $99 million in BlackRock's Bitcoin ETFs, specifically iShares Bitcoin Trust (IBIT).