The Overnight Wrap
The market stayed on the cautious side overnight.
The Crypto Fear and Greed Index is sitting at 34, keeping sentiment firmly in fear. Total crypto market cap slipped 1.54% over the past 24 hours, sitting around US$2.51 trillion.
REQ and OSMO were among the standout movers over the past day.
OSMO, in particular, has had a wild few months. After an 85% flash-crash-style wipeout, the token continued to grind lower before ripping more than 300% higher, only to cool off again. A reminder that in crypto, the overnight winners can still come with plenty of whiplash.
NEAR landed on the 24-hour losers list, but zooming out tells a very different story. The token gained around 136% in May with a recent healthy pullback coming down 13% from the highs..
Part of the excitement has come from renewed interest in NEAR’s AI roadmap. The project is preparing to launch dynamic resharding in June, which would allow the network to automatically add more capacity as demand grows. NEAR has also rolled out AI-focused privacy tools designed to remove passwords and personal data from prompts before they are sent to external models.
Together, these updates have helped strengthen NEAR’s position in the AI crypto narrative, especially around AI agents, intents and chain abstraction.
Crypto Coffee Roundup
A few stories moving through digital assets this week:
• A new U.S. Strategic Bitcoin Reserve bill has been introduced, dropping the previous 1 million BTC purchase target and instead proposing a 20-year lockup for government-held Bitcoin.
• Ondo Finance founder and CEO Nathan Allman has passed away unexpectedly. Ondo President Ian De Bode will step into the CEO role, with the company saying its mission remains unchanged.
• A Satoshi-era Bitcoin whale moved around 2,650 BTC, worth more than US$200 million, to FalconX and Cumberland. The wallet reportedly still holds around 6,000 BTC.
• Catena Labs, founded by Circle co-founder Sean Neville, raised US$30 million to build regulated banking infrastructure for AI agents, with support for cards, ACH, wires, stablecoins and blockchain payment rails.
• Vitalik Buterin says the Ethereum Foundation is becoming a “smaller ship,” selling less ETH and narrowing its focus after a wave of researcher departures. The foundation is set to focus more heavily on Ethereum’s core principles: censorship resistance, open source development, privacy and security.
The market does not sleep
Crypto trades 24/7, but not every hour hits the same. For Australian investors, some of the biggest global market moments happen after dark. London wakes up. U.S. economic data drops. Wall Street opens. The U.S. trading day wraps. All while most Aussies are having dinner, winding down, or sleeping.
Even though Bitcoin never closes, it still reacts to the world around it. CPI data, jobs reports, Federal Reserve comments, ETF flows, stock market moves and shifts in the U.S. dollar can all ripple through crypto markets overnight.
Research has also found that Bitcoin volume and volatility often pick up during the hours that overlap with European and U.S. stock market trading.
So while crypto is always open, the overnight window can be where a lot of the action happens.
After Dark Safety Check
Crypto markets run 24/7, and unfortunately, so do scams.
This week’s security article covers address poisoning, a scam where criminals create wallet addresses that look similar to ones you have used before. They may send a tiny or zero-value transaction to make their address appear in your wallet history, hoping you later copy it by mistake.
The reminder is simple: always check the full wallet address before sending crypto, avoid copying from transaction history unless you are certain it is correct, and be cautious with unknown tokens, NFTs or fake airdrops.
Read the full article here: https://www.cointree.com/news/scam-alert-address-poisoning/
