Bitcoin and Ethereum options expire today with a total value of $15.4 billion

[Animoca Brands Plans to Go Public on Nasdaq via Reverse Merger] Animoca Brands plans to go public on Nasdaq in 2026 through a reverse merger with Singapore fintech AI company Currenc Group. Upon completion of the transaction, Animoca will hold a majority stake in Currenc and inherit its public listing status, enabling its crypto asset projects to directly reach U.S. investors.

Polygon's Aishwary Gupta predicts that the number of stablecoin issuers will exceed 100000 within the next five years, and states that this will prompt banks to reconsider their capital models while maintaining liquidity through the issuance of deposit tokens. （Cointelegraph）

According to the popularity ranking, MERL's popularity has decreased by 560000 followers compared to yesterday, ranking first. The popularity ranking is as follows: ① MERL （$0.3147，8.74%） ② ZEC （$480.92，-5.32%） ③ AT （$0.2146，-18.19%） ④ ETH （$3059.35，0.93%） ⑤ IRYS （$0.03896，-22.08%） MERL's main funds have strong selling power, with a net outflow of $4.096 million in 24 hours and a transaction volume of $764 million in 24 hours, of which the main funds had a net outflow of $2.8072 million.

[CryptoQuant: ERC20 Stablecoin Supply Surpasses $160 Billion, Reaching a Historic High] The latest report from CryptoQuant shows that the total supply of ERC20 stablecoins surpassed $160 billion in 2025, setting a new all-time high. The report highlights a significant correlation between stablecoin supply and Bitcoin price trends, with stablecoin growth typically preceding Bitcoin price increases. During the 2021 bull market and the 2024-2025 market recovery, the growth in stablecoin supply consistently occurred before Bitcoin price surges. The CryptoQuant research team stated that the current stablecoin supply is at a historic high, reflecting a sustained strengthening of underlying market purchasing power.

[A certain whale closed Bitcoin short positions and switched to long, losing approximately $1.6 million] According to monitoring by Lookonchain, the whale with the address starting with 0x0ddf9 has closed 1,000 Bitcoin short positions worth $91 million, incurring a loss of approximately $1.6 million. The whale then opened 1,000 Bitcoin long positions worth $91 million with 3x leverage, with a liquidation price of $59,112.