OVERVIEW

Only 1.39M BTC On Exchanges 🤯

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

ON-CHAIN ANALYSIS
The Numbers Keep Dippin ⤵️ 

There are a lot of ways to say/write ‘The Amount of Bitcoin On Exchanges At It’s Lowest Since November 2018.’ ✏️ 

I’ve used derivatives of that in past Litepaper headlines because, well, it keeps happening.

In fact, BTC’s exchange supply has been within the same November 2018 levels since January 2025, despite continually edging lower.

Which makes sense if you look at the amount of BTC moving onto exchanges in November 2018: 1.31M to 1.53M. 😲 

Amount of BTC on Exchanges Feb 2018 – Dec 2018 – Click to enlarge.

And today, that number broke below 1.4M:

Amount of BTC on Exchanges – Click to enlarge.

1.39M BTC is a new 6.6 year low. And with Gamestop, Strategy, and TradFi playing BTC FOMO, the drop could accelerate, very, very soon. ⏩️ 

NEWS
Well. That Sucks.🤦 

I have no idea if this guy is actually trading tens of millions. I feel like the greatest living trader alive, Peter Brandt, is right when he says if you don’t post your IRS filings, then screenshots are just stupid. 🤣 

But damn if they don’t make for some entertainingly painful material. Case in point: James Wynn’s post yesterday, when his position(s) were worth $30 million:

For all my haters out there who so very much loved to see my portfolio swing down by $60,000,000. 👇

Just know, now you get to see it swing BACK UP INTO THE HUNDREDS OF MILLIONS.

I repeat HUNDREDS OF MILLIONS.

Money that haters like you can’t even dream of having because

— James Wynn 🐳 (@JamesWynnReal)
1:25 PM • May 27, 2025

Then, twenty-four hours and thirty-six minutes later, Lookonchain posts this:

James Wynn(@JamesWynnReal) has wiped out almost all his profits on #Hyperliquid.

It took him 70 days to go from 0 to $87M+ in profit, and only 5 days to lose almost all the $87M+ in profit.

hyperdash.info/trader/0x5078C…

— Lookonchain (@lookonchain)
2:01 PM • May 28, 2025

Someone call 911 because Wynn probably needs to get to the burn unit after that. 👩‍🚒 

NEWS
Gemini’s 2025 State of Crypto 🧠

Gemini released their 2025 Global State of Crypto, and the data is quite interesting.

Global Crypto Ownership

• 198,000 Bitcoin held by the U.S. Treasury, thanks to Trump’s Strategic Bitcoin Reserve.

• UK ownership jumped from 18% to 24%.

• France rose from 18% to 21%.

• Singapore leading at 28% crypto ownership.

• 23% of U.S. non-crypto owners reconsidered crypto due to Trump’s Bitcoin Reserve.

Memecoins: More Than Just Memes

• 94% of memecoin holders globally own other cryptocurrencies.

• 67% of crypto investors in France hold memecoins—highest globally.

• 31% of people in the US purchased a memecoin before a ‘traditional’ crypto.

ETF Explosion

• 39% of U.S. crypto holders invested in crypto ETFs.

• Italy (47%), UK (41%), and Singapore (40%) show significant ETF adoption.

Crypto: The New Gold?

• Crypto selling rates dropped in the U.S. from 17% to 15%.

• 40% of U.S. investors now hold crypto as an inflation hedge, up from 32%.

Women Take Charge

• Female crypto ownership in the U.S. increased from 28% to 30%.

Generation Crypto 

• 52% of Gen Z and Millennials globally own or have owned crypto.

• Boomers lag far behind at just 11% ownership.

Read the full report from Gemini, here. 👈️ 

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🏦 Asset Runes Bring USDC to Bitcoin

Asset Runes launched, giving Bitcoin holders direct exposure to USDC without compromising their BTC purity by venturing into riskier chains. Backed by Starknet’s secure bridges, Bitcoiners can finally diversify without feeling dirty. Let’s see how many Bitcoin OGs actually bite. Starknet.

⚡ PayButton Launches WordPress Plugin

The PayButton WordPress plugin lets you instantly monetize content using eCash (XEC) without pesky signups, third-party middlemen, or waiting around for payments to clear. Users can paywall content, drop custom donation buttons, and track earnings directly through WordPress. eCash.

📉 PIVX Weekly Pulse Shows Dip

PIVX’s masternode count dropped slightly (by a whopping 2 nodes), and prices fell from $0.1758 to $0.1609 despite crypto’s bullish vibes elsewhere. On the bright side, it landed new listings on SecureShift and ChainSwap, because even privacy coins need new dance floors. Holders are hoping next week’s numbers are less moody. Pivx.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🔗 Enjin Rolls Out Connect

No more QR codes stuck spinning or NFTs lost in blockchain limbo? Yes please. Enjin Connect takes wallet-to-ecosystem interactions in-house, promising quicker transactions, fewer dropped connections, and better security within the Enjin ecosystem. Enjin.

📝 Verio Launches IP Verification via Staking

Tokenizing IP just got better. Verio tackles blockchain’s trillion-dollar IP verification problem through a staking-based model, turning ownership validation into an economically driven community activity. Creators can prove and monetize IP without centralized gatekeepers or endless disputes. Story Protocol.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🔒 ZKsync Launches Prividium for Institutions

ZKsync introduced Prividium, a blockchain infra for enterprises who want privacy, compliance, and Ethereum compatibility without the drama. Deutsche Bank jumped on board immediately, bringing fund services fully on-chain. Zksync.

⚡ Sonic Labs Partners with Chainwire

Hooray for media exposure – builders now get rewarded with cheaper press releases for their hard work. Sonic Labs teamed up with Chainwire to offer discounted PR for blockchain apps. Sonic devs now have easier access to major crypto news outlets, so expect your feed to fill up with announcements about apps you’ve never heard of. Sonic Labs.

🦊 MetaMask Goes Native on Solana 

Solana hodlers rejoice. MetaMask now supports Solana, letting users manage SOL tokens and interact with Solana dapps without swapping wallets every five minutes (about time MetaMask figured this out). Enhanced security, frictionless onboarding, and unified asset management across networks mean crypto life just got slightly less annoying. Consensys.

OLD NEWS
Last Years News, Today 👴

From the May 28, 2024 Litepaper:

Mt. Gox BTC Moving

• Mt. Gox wallets transferred roughly $9.6 billion in BTC, their first major movement in five years.

• Bitcoin plunged -3.03% on the news, dropping from above $70,600 to as low as $67,243.

Solana Validators to Receive All Priority Fees

• Solana’s community approved a controversial change, giving 100% of priority fees to network validators.

• Previously, fees were split evenly – half burned, half to validators; now validators take it all.

Cardano Game on Epic

• Chains of War, a blockchain-based shooter built on Cardano, landed on Epic Games Store.

• Developed with Unreal Engine 5, it’s a PvPvE game similar to hits like Destiny 2 and Warframe.

FTX Executive Ryan Salame Sentenced to 90 Months

• Former FTX exec Ryan Salame sentenced to 7.5 years in prison for conspiracy charges.

• Alongside jail time, he’ll pay over $6 million in forfeiture and more than $5 million in restitution.

Other News

• Minswap Eyes Binance Listing

• Uniswap Drops Financials Before Fee Vote

• Grayscale’s Ethereum ETF Faces Huge Outflows

• Crypto Execs Bet Bitcoin Beats Nvidia

• US Crypto Investment Inflows Surge

LINKS
Links That Don’t Suck 🔗

😱 US Department of Labor rescinds 2022 guidance on cryptocurrency in 401(k) plan

🪙 Goldman Sachs predicts $4,000 gold, sees precious metal as superior stock market hedge to Bitcoin

💸 GameStop purchases over $500M worth of Bitcoin

🏠️ White House’s David Sacks hints at budget-neutral path for U.S. Bitcoin purchases

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Email me (Jonathan Morgan) your feedback; I’d love to hear from you. 📧

Want to sponsor this newsletter and reach hundreds of thousands of crypto enthusiasts? Reach us here. 👍

Terms & Conditions 📝

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋