OVERVIEW

Historic $290B RWA Deal Lands on Avalanche 🏔️

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

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

NEWS
AVAX Nails Biggest Real Estate Tokenization Ever 💰️

Balcony (real-estate infrastructure firm) is using Avalanche’s AvaCloud platform and just inked a five-year deal with Bergen County, New Jersey (and others) to bring over 370,000 property parcels worth a whopping $290 billion onto the $AVAX.X ( ▼ 1.68% ) blockchain. 🤯 

That makes it the largest deed-tokenization project ever in the U.S. Hell, it’s the top spot in terms of RWA property tokenization scale, too.

Why This Is Such A Huge Deal For AVAX And Tokenization 🧠 

• Scale and Scope: At $290 billion, Avalanche now leads the pack, dwarfing competitors in sheer asset value and number of properties tokenized (over 460,000 parcels).

• Government Backing: Unlike most tokenization projects, Balcony’s initiative is directly supported by government institutions (e.g., Bergen County, NJ). Real, institutional buy-in means legitimacy and potential nationwide replication.

• Public Infrastructure: Rather than traditional tokenization for fractional investing, Balcony targets critical government infrastructure - digitizing deed records to streamline operations, reduce fraud, and ensure transparency.

• Immediate Tangible Benefits:

  • Settlement times reduced dramatically (from 90 days to just one).

  • Enhanced security and protection against ransomware (saving municipalities potentially millions).

  • Recovery of lost revenue (e.g., Orange, NJ already uncovered roughly $1 million in lost tax income).

This might be the most consequential real-world asset tokenization project to date. 😱 

ON-CHAIN ANALYSIS
Bitcoin's On-Chain Metrics: High Value, Low Drama, and Quiet Hodlers 🤐

When Bitcoin hit six figures, suddenly everyone decided they'd rather take naps than trade BTC. 💤 

We’re going to look at two pieces of on-chain data for Bitcoin: Network Growth and Daily Active Addresses. So, before we dive in, here’s they measure:

Network Growth

Network Growth: Measures the number of new addresses created on the Bitcoin network over a given period. Basically, it shows how many fresh wallets joined the party - a handy way to gauge new user adoption and general crypto hype.

Daily Active Addresses

Daily Active Addresses: Tracks how many unique Bitcoin addresses send or receive transactions each day. Think of it as Bitcoin’s daily "attendance list," measuring overall network activity, interest, and how many wallets are actually bothering to make moves.

Let’s rewind and look at what’s happened since 2021. ⏪️ 

2021: Crypto’s Open-Bar Wedding

• Network Growth:

  • Exploded as new wallet creation surged.

  • Fresh wallets piled in faster than influencers shilling shitcoins.

• Daily Active Addresses:

  • Hit peak frenzy - every wallet was in action, chasing gains.

  • Basically the blockchain’s version of "attendance mandatory."

Mid-2021 to Late-2022: OMG I Drank Too Much And Now I’m Sick

• Network Growth:

  • Tanked.

  • New wallet creation dried up.

• Daily Active Addresses:

  • Took a noticeable hit but didn’t vanish entirely.

  • Die-hard HODLers stayed active, probably too stubborn or underwater to leave.

2023-2024: Bitcoin Starts Adulting

• Network Growth:

  • Stabilized at modest, mature levels.

  • Institutional players entering the scene.

• Daily Active Addresses:

  • Consistent and calm; no wild swings.

  • Like a responsible older cousin - steady, reliable, slightly dull. But still that person you feel comfortable to call to pick your drunk ass up without telling mom and dad.

2025: Quietly Rich, Noticeably Boring

• Network Growth:

  • Slowdown in new wallet creation; fewer new entrants.

  • Reflecting long-term, confident accumulation rather than speculative mania.

• Daily Active Addresses:

  • Flattened out as active trading drops.

  • Traders aren’t panic-buying or panic-selling - they’re calmly stacking sats.

In short: Bitcoin hodlers hit wealth-mode and decided drama was overrated. Quiet markets, strong hands, and boring -but super bullish - on-chain metrics. 🃏 

STOCKTWITS
🟢 Introducing the Stocktwits Sentiment Index (SSI)

Wall Street watches the $VIX for expected volatility.

Stocktwits traders have the Stocktwits Sentiment Index, which measures retail investor emotion and updates daily after close.

Remember:

• The $VIX is based on the options market’s near-term volatility expectations.

• The Stocktwits Sentiment Index is based on what retail traders are feeling and signaling right now.

• Combining both gives traders a smarter, earlier read on market shifts.

👉 Track the latest Stocktwits Sentiment Index

P.S. The Stocktwits Sentiment Index is currently only available on Desktop, on the Stocktwits homepage.

CRIME
Score One For The Good Guys 👍️

The U.S. Treasury just nailed a huge Philippines-based scam operation 🚨

The Treasury dropped sanctions on Funnull Technology Inc., a sketchy Philippines-based outfit that's been backing scummy "pig butchering" crypto scams.

"Pig butchering" scams bait victims through fake relationships, convincing them they're on the brink of crypto riches - until scammers vanish with their entire investment.

Thanks to Funnull’s hustle, Americans got fleeced out of over $200 million - with victims individually coughing up an average $150K. They also tagged Funnull’s ringleader, Liu Lizhi (alias masterclass with hits like "Steve" and "Nice Lizhi").

How did Funnull pull this off? Easy - they bulk-bought IP addresses, sold them to scammers, and set up fake crypto platforms promising huge returns. When victims inevitably ran dry or questioned the scheme, these scammers vanished.

Treasury Deputy Secretary Michael Faulkender made it clear: the U.S. is done tolerating crypto-scammers and anyone making their lives easier.

In coordination with the FBI, OFAC just froze all U.S.-based assets connected to Funnull and Liu, locking down any further transactions. 👀

OLD NEWS
Last Years News, Today 👴

From the May 29, 2024 Litepaper:

• SEC vs. Debt Box Debacle

  • SEC lied about evidence to secure TRO against Debt Box.

  • Judge Shelby sanctioned SEC nearly $2M for bad faith actions.

  • SEC attorneys forced to resign; major embarrassment for the agency.

• Mastercard Simplifies Crypto

  • Launched Mastercard Crypto Credential for easy, secure crypto transactions.

• Torque Drift 2 Goes Blockchain

  • Game integrates blockchain to let players own, trade, and sell digital cars.

• Crypto Unicorns Massive Airdrop

  • Game migrating from Polygon to Arbitrum's Layer-3 Xai network.

• Kiraverse Lands Pixelverse Crossover

  • Param Labs and Pixelverse partner for cross-IP integration.

Other News

• Ronaldo drops NFT collection showcasing career highlights.

• Cathie Wood predicts El Salvador’s GDP could soar 10x due to BTC and AI adoption.

• Ripple Pumps Crypto PAC, adds $25M more to FairShake Super PAC; total now $50M.

• Memecoin craze knocks Cardano from crypto’s top-10 ranking.

• Gemini returns over $2B in crypto to Earn customers.

• Tron’s stablecoin surge threatens Ethereum’s DeFi dominance.

LINKS
Links That Don’t Suck 🔗

😾 Crypto market still exposed as CFTC lacks spot market authority, warns Behnam

🌊 Another wave of Bitcoin selloffs incoming if this happens, warns analyst Willy Woo

😐️ Bitcoin steady as US confirms economy shrank in Q1

🫢 Nigel Farage to propose UK cryptocurrency bill in Las Vegas

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