Autor: dot-traders

• Speculative capital is moving toward early-stage tokens as traders hunt for momentum-driven gains.
• Bitcoin Pepe has emerged as one of 2025’s most closely watched presales.
• The project has raised over $13.7 million in its presale so far.

The broader cryptocurrency market tracked Bitcoin’s weak performance on Thursday, with most of the top 100 altcoins trading in the red.

Dogecoin (DOGE) and Cardano (ADA) led losses among major altcoins.

DOGE fell to $0.18878, while ADA slipped to $0.67710.

Bitcoin (BTC), the largest digital asset by market capitalization, remained largely flat over the past 24 hours and was last seen trading at $104,594.95.

Despite the decline, sentiment remains moderately bullish. The Crypto Fear and Greed Index is still in “greed” territory at 62, although it has edged down slightly from earlier levels.

With Bitcoin (BTC) experiencing renewed volatility, retail investors are increasingly shifting focus to high-risk, high-reward plays such as Bitcoin Pepe, which has entered the final phase of its presale.

Speculative capital is moving toward early-stage tokens as traders hunt for momentum-driven gains.

Bitcoin Pepe, in particular, is benefiting from this shift, emerging as a favored bet among those looking to capitalize on short-term upside.

The appeal is familiar: a low-cost entry point, meme-driven branding, and the prospect of sharp price appreciation following initial exchange listings.

As Bitcoin’s price action remains choppy, such presales are drawing heightened interest from risk-tolerant segments of the market.

JPMorgan to accept BTC ETFs as collateral

JPMorgan Chase is preparing to allow its trading and wealth-management clients to use crypto-linked assets, such as exchange-traded funds (ETFs), as collateral for loans, Bloomberg reported on Wednesday, citing sources familiar with the matter.

The shift will begin with financing arrangements backed by BlackRock’s iShares Bitcoin Trust (IBIT), the largest US-listed spot Bitcoin ETF.

The move is expected to take effect in the coming weeks, with additional crypto ETFs to be added thereafter.

IBIT has amassed $70.16 billion in assets under management since its launch in January 2024 and now accounts for over half of the $128.13 billion invested across all US spot Bitcoin ETFs, according to SoSoValue data.

The bank will also start factoring crypto holdings into clients’ net worth and liquid asset calculations.

This change applies across all client tiers globally, from retail investors to high-net-worth individuals.

While JPMorgan had previously accepted crypto ETF-backed collateral in limited cases, the new policy represents a broader, more systematic integration of crypto into its wealth and lending businesses.

The move signals growing institutional acceptance of digital assets and aligns with JPMorgan CEO Jamie Dimon’s comments in May, in which he stated that the bank would soon permit clients to buy Bitcoin.

Bitcoin Pepe continues its forward march

Even as Bitcoin contends with short-term volatility, its accelerating adoption by major financial institutions is fostering a more supportive environment for broader market rallies.

In this environment, investor appetite is again turning toward speculative corners of the market, with meme coins among the early beneficiaries.

One standout in this rotation is Bitcoin Pepe, which has attracted significant attention for its attempt to merge blockchain infrastructure with viral meme culture.

Bitcoin Pepe has emerged as one of 2025’s most closely watched presales, drawing investor attention for its stated ambition to “build Solana on Bitcoin.”

By aiming to merge Bitcoin’s network security with Solana-like scalability, Bitcoin Pepe seeks to stand apart in a crowded meme coin landscape, where most projects rely heavily on branding and lack substantive tech layers.

The project has raised over $13.7 million in its presale so far, signaling notable demand ahead of a listing announcement set for June 17.

To support the buildout of its Layer 2 ecosystem, Bitcoin Pepe has announced a series of strategic partnerships with Super Meme, Catamoto, and Plena Finance.

With speculative capital rotating toward early-stage projects, Bitcoin Pepe is positioning itself to benefit from the broader trend.

The post Bitcoin Pepe price outlook as JPMorgan reportedly plans to accept BTC ETFs as collateral appeared first on CoinJournal.

Circle Internet Group Inc., a prominent player in the stablecoin arena, successfully navigated its initial public offering (IPO), raising nearly $1.1 billion in an upsized deal that saw shares priced above the initially marketed range.

This strong market reception is being interpreted as a significant indicator of the increasing acceptance and perceived legitimacy of stablecoin issuers within the broader financial landscape.

The stablecoin firm, along with some of its existing shareholders including co-founder and Chief Executive Officer Jeremy Allaire, sold a total of 34 million shares on Wednesday at a price of $31 each, according to a statement confirming an earlier Bloomberg News report.

This pricing gives Circle a market valuation of approximately $6.9 billion based on the outstanding shares detailed in its regulatory filings.

When accounting for employee stock options, restricted share units, and warrants, the company’s fully diluted valuation reaches about $8.1 billion.

The offering’s success was underscored by significant investor interest.

The upsized deal reportedly fielded demand for more than 25 times the number of shares available by the time orders closed on Tuesday, according to people familiar with the matter.

This overwhelming demand prompted Circle to increase the size and price of its IPO earlier in the week.

On Monday, the target for the offering was raised to 32 million shares at a price range of $27 to $28 per share, a notable increase from the initial plan to sell 24 million shares within a $24 to $26 price range, as indicated in its earlier filings.

In the final tally, Circle itself sold 14.8 million shares in the IPO, while the selling shareholders divested the remaining 19.2 million shares.

Regulatory tailwinds and growing institutional interest

Circle’s successful public offering comes at a pivotal time for stablecoins – digital tokens typically pegged to a fiat currency like the US dollar.

Legislation currently before the US Congress aims to regulate these assets, a development that many believe will confer greater legitimacy upon them and potentially pave the way for broader adoption.

However, this evolving regulatory landscape may also attract new and formidable competitors.

The Wall Street Journal reported last month that some of Wall Street’s largest banks are jointly exploring the possibility of issuing their own stablecoins.

Circle’s flagship product, USDC, held approximately 29% of the stablecoin market as of the end of March, according to data from CoinMarketCap cited in the company’s filing.

As of May 29, there was about $61 billion worth of USDC in circulation, according to information on Circle’s website.

The IPO has attracted notable institutional investors. ARK Investment Management, the technology-focused investment firm founded by Cathie Wood, expressed interest in purchasing as much as $150 million worth of shares in Circle’s IPO, according to the filing.

Furthermore, BlackRock Inc., the world’s largest asset manager, reportedly plans to acquire about 10% of the IPO shares, people familiar with the matter have said.

This interest is particularly significant given BlackRock’s existing relationship with Circle; BlackRock manages a government money market fund on Circle’s behalf, which holds 90% of the reserves backing its USDC stablecoin.

The Circle Reserve Fund reportedly had a balance of $53.3 billion as of May 29.

Circle’s journey to public markets

This IPO marks a significant milestone in Circle’s journey.

The company was valued at $7.7 billion after a funding round in 2022, according to data provider PitchBook.

Circle had initially filed confidentially for a listing in early 2024, more than a year after it had abandoned a previous attempt to go public through a merger with a blank-check company (SPAC).

That earlier SPAC deal would have valued the company at $9 billion.

The current IPO is being led by a consortium of Wall Street giants, including JPMorgan Chase & Co., Citigroup Inc., and Goldman Sachs Group Inc.

Circle’s shares are expected to begin trading on Thursday on the New York Stock Exchange under the ticker symbol CRCL.

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