The global crypto market cap reached $2.56 trillion on May 30, up 0.4% over 24 hours, even as sentiment stayed weak. The Crypto Fear & Greed Index held at 23, still in Extreme Fear, unchanged from the previous day and lower than last week’s 28 and last month’s 29.
Bitcoin traded at $73,544.19, up just 0.02% in 24 hours, with $33.9 billion in trading volume and a market cap of $1.47 trillion. Ethereum slipped to $2,017.21, down 0.58%, with volume at $14.7 billion and capitalization of $243.44 billion. Bitcoin dominance stood at 57.5%, while Ethereum held 9.49%.
Altcoins outpace BTC and ETH
Altcoins led the day’s moves. HEI changed hands at $0.1255, surging 120.76% with $144.76 million in volume. LAB rose 56.87% to $6.47, ID gained 24.70% to $0.03661, and INJ climbed 14.88% to $6.37.
Among widely watched names, XLM advanced to $0.2701, up 36.02% on trading activity of $2.07 billion. HBAR added 20.44% to $0.1080, while ALGO rose 15.97% to $0.1323. On the losing side, NEAR fell 5.62%, ONDO dropped 5.09%, and EDGE declined 4.71%.
DeFi rises while stablecoins edge lower
The stablecoin segment posted a 0.5% decline over the past day, with market capitalization at $315.4 billion and trading volume at $72.1 billion. DeFi recorded stronger momentum, rising 2.4% to a market cap of $65.5 billion with $5.1 billion in trading volume. Its global market share was listed at 2.6%.
Regulation, enforcement and network issues stay in focus
Several policy and enforcement developments landed on the same day. Brazilian authorities launched Operation Hidden Cash Flow to investigate an alleged tax fraud network that moved $4.6 billion, including $65 million in crypto transactions. Brazilian platform Bitnuvem announced a shutdown of its cryptocurrency network and told customers to withdraw funds; the exchange had served more than 80,000 clients over seven years.
In Russia, licensed companies may be allowed to market crypto services, though promotions naming specific assets such as Bitcoin, Ethereum, or Solana would still be banned. The country also restricts bank exposure to crypto. BlackRock filed a third amended registration statement for its Bitcoin Premium Income ETF, but the proposed fund’s expense ratio has not been disclosed.
On the enforcement side, the FBI said nearly 300 people were detained and more than $8 billion in cryptocurrencies was confiscated during a global crackdown on multinational scam operations. U.S. Treasury Secretary Scott Bessent said authorities have seized about $1 billion in Iranian-linked crypto. Kraken, for its part, wants to launch CFTC-regulated perpetual contracts within 30 days, starting with BTC, ETH, SOL, XRP, and DOGE.
Network reliability also drew attention. Sui suffered another outage that briefly halted user transactions before validators restored normal operations. Separately, Hitachi said it automated commercial payments, reconciliation, and accounting among participating companies in a pilot using tokenized yen deposits.
Compared with the May 29 update, the market showed a mild improvement as total capitalization rose from $2.55 trillion to $2.56 trillion. Sentiment, though, did not improve. Trading stayed selective, with capital rotating into higher-beta altcoins while Bitcoin and Ethereum remained relatively muted.