From FLOG to FWOG: Crypto Twitter Rallies Behind Artist After Meme Coin Dumps

Cryptocurrency prices surged after President Donald Trump announced a ceasefire between Iran and Israel, with Bitcoin rising 5% to over $105,000. The leading cryptocurrency had dipped below $100,000 after U.S. forces bombed Iran's nuclear sites but quickly recovered over the weekend.

Midnight Network, a blockchain focusing on privacy and data protection, will distribute NIGHT tokens to users of major networks like Bitcoin, Ethereum, and Solana through its Glacier Drop event. The tokens will be claimable by holders of specific native tokens, with a gradual vesting period.

ECD Automotive Design, Inc. has secured $500 million to acquire and store a significant amount of Bitcoin in its corporate treasury, following a trend seen among various public companies. The Florida-based car restoration company signed an equity facility with ECDA Bitcoin Treasury LLC for this purpose.

Circle's stock price surged to an all-time high of over $298 before dropping back down, with shares currently trading around $250. The company's market capitalization of nearly $63 billion now surpasses that of its stablecoin, USDC, valued at almost $61.3 billion.

Bitcoin and the broader crypto market showed resilience as oil prices fell after U.S. airstrikes against Iran. The S&P 500 rose to 6,006 points, and the Federal Reserve maintained rates at 4.25%-4.5%. Gold near $3,388 per oz as oil's dip eases inflation concerns.

Elliptic's report reveals how Telegram's ban on Chinese-language crypto scam services led to the resurgence of black markets on the platform. Despite the takedown of major marketplaces, smaller ones have quickly filled the void, enabling billions in illicit revenue.

Coinbase's stock surged over 23% after obtaining a MiCA license and the Senate passing the GENIUS Act. Analyst Mark Palmer raised the price target to $421, citing favorable regulatory changes and increased stablecoin adoption.

Trump Media and Technology Group plans to repurchase up to $400 million of its common stock, emphasizing it won't affect the $2.3 billion allocated for Bitcoin. The board's decision reflects confidence in the company's future and strategic direction, with repurchases to be made at their discretion on the open market.

Data from CryptoQuant shows a drastic 80% decrease in unique active addresses on the XRP Ledger since December, with the number dropping from 103,000 to fewer than 21,000. Active addresses are crucial for measuring blockchain network health and adoption.

A proposal to replace Celestia's Proof of Stake with a new Proof of Governance system aims to reduce token inflation and simplify staking. The change is seen as a necessary step to address investor concerns and improve the network's efficiency.