The meme coin market witnessed a surge in AI-themed tokens today, led by ai16z, which posted a 35% rally. These tokens’ collective value grew by nearly 5% and is currently worth over $3.1 billion.
BeInCrypto has analyzed two other AI-themed meme coins for investors to watch as April nears its end.
ai16z (AI16Z)
Launch Date – October 2024
Total Circulating Supply – 1.099 Billion AI16Z
Maximum Supply – 1.099 Billion AI16Z
Fully Diluted Valuation (FDV) – $269.21 Million
AI16Z has surged by 35% in the last 24 hours, currently trading at $0.243. The altcoin has gained momentum, breaking through a month-long resistance at $0.210. This surge places AI16Z at the forefront of AI meme coins, drawing attention from investors eager to capitalize on the price movement.
To reach the next resistance at $0.321, AI16Z must continue its upward trajectory. However, achieving this target requires that investors hold onto their positions rather than selling off their holdings. With a 30% rise still needed to breach the resistance, market sentiment will play a critical role in its success.
If selling pressure increases, AI16Z could fall below its support at $0.210. A drop below this level would likely lead to a decline toward the $0.154 support, invalidating the current bullish outlook.
Goatseus Maximus (GOAT)
Launch Date – October 2024
Total Circulating Supply – 999.99 Million GOAT
Maximum Supply – 1 Billion GOAT
Fully Diluted Valuation (FDV) – $81.46 Million
GOAT has risen 22% in the last 24 hours, currently trading at $0.079. The altcoin is testing resistance at $0.080, marking a near two-month high. This upward momentum indicates growing investor interest, with the price approaching a critical level that could set the stage for further gains.
If GOAT can maintain its current momentum, it has the potential to secure $0.080 as a support floor. A sustained rise above this level could lead to further gains, with the next resistance target set at $0.102. This would provide a solid foundation for continued growth and extend investor profits.
Failing to breach $0.080 could trigger a reversal in the price movement. In this scenario, GOAT may experience a decline toward the $0.064 support level, erasing recent gains. This would invalidate the bullish outlook, suggesting that the current uptrend could be short-lived if the resistance is not surpassed.
Turbo (TURBO)
Launch Date – May 2023
Total Circulating Supply – 69 Billion TURBO
Maximum Supply – 69 Billion TURBO
Fully Diluted Valuation (FDV) – $317.10 Million
TURBO has posted a 104% rise this week, currently trading at $0.0046. While it did not see a massive rally today, the meme coin has shown impressive growth. However, TURBO faces resistance at $0.0048, which could limit further upward movement unless broken decisively.
To continue its upward trajectory, TURBO must flip the $0.0048 resistance into support. If successful, the altcoin could aim for the $0.0068 level. Maintaining strong investor confidence and preventing widespread selling will be essential to sustaining this bullish trend.
Any significant profit-taking could derail TURBO’s rally. A failure to maintain above the $0.0048 level would lead to a decline, potentially dropping to $0.0038 or even $0.0029. This would invalidate the bullish outlook and likely push the token into a bearish trend.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee as we analyze Standard Chartered’s Bitcoin (BTC) price projections. According to the bank, Bitcoin price could hit $500,000 as global institutions accumulate Strategy’s MSTR stock for indirect exposure to Bitcoin.
Crypto News of the Day: Standard Chartered’s Bold Bitcoin Prediction
Bitcoin was trading for $105,178, up by a modest 2.27% in the last 24 hours. In recent developments, the pioneer crypto market capitalization has ascended to an all-time high of $2.09 trillion.
However, analysts hold that institutional interest has much to do with Bitcoin’s value surge. Firstly, Bitcoin ETFs (exchange-traded funds), which offer Traditional Finance (TradFi) players indirect exposure to BTC, drive institutional interest.
In the same way, institutions are gaining indirect exposure to Bitcoin via Strategy’s MSTR stock. A recent US Crypto News publication indicated that Strategy (formerly MicroStrategy) held 576,230 BTC as of May 19.
Holding a significant amount of Bitcoin on its balance sheet, Strategy’s MSTR stock price correlates closely with Bitcoin’s price movements.
MSTR vs. BTC performance in the past year. Source: ivanhoff.com on X
Analysts ascribe this correlation to a dynamic where Bitcoin is the base layer while MSTR operates as a vehicle with different risks, mechanics, and rewards.
Against this backdrop, BeInCrypto contacted Geoff Kendrick, Head of Digital Assets Research at Standard Chartered. According to Kendrick, Bitcoin is still on course to hit $500,000 before the end of Trump’s second administration.
Kendrick ascribes this to deepening institutional adoption, particularly through indirect exposure via MicroStrategy’s MSTR shares.
Standard Chartered Says Increasing Allocations to MSTR Is Bullish for Bitcoin
Newly released Q1 2025 13F filings from the US SEC (Securities and Exchange Commission) support the bank’s bullish thesis. Specifically, Strategy saw increasing allocations to MSTR by a range of global sovereign and quasi-sovereign entities.
“As more investors gain access to the asset and as volatility falls, we believe portfolios will migrate towards their optimal level from an underweight starting position in Bitcoin,” Kendrick said in an email to BeInCrypto.
While direct holdings of Bitcoin ETFs declined slightly overall, largely due to the State of Wisconsin Investment Board selling its entire 3,400 BTC-equivalent position in BlackRock’s IBIT ETF, other entities quietly increased exposure via MSTR, which Kendrick described as a “Bitcoin proxy.”
“Government entities increased their holdings of Strategy Incorporated (MSTR), which typically trades like a Bitcoin proxy. Entities in Norway, Switzerland, and South Korea reported significant MSTR increases, and Saudi Arabia added a very small position for the first time,” Kendrick told BeInCrypto.
The Standard Chartered executive emphasized that while Bitcoin ETF flows were “unexciting,” the MSTR accumulation trend was the real story this quarter.
“The MSTR ownership detail was where the excitement was,” he added.
Geoff Kendrick went further, detailing Standard Chartered’s analysis of the filings. Based on their analysis:
Norway added 700 BTC-equivalent via MSTR, now holding 6,300 BTC-equivalent.
Switzerland also added 700 BTC-equivalent, reaching 2,300 BTC-equivalent.
South Korea added 700 BTC-equivalent, bringing its total to 1,300 BTC-equivalent.
US state funds (California, New York, North Carolina, Kentucky) added 1,000 BTC-equivalent collectively, now at 3,300 BTC-equivalent.
Saudi Arabia’s Central Bank opened a small MSTR position—its first.
Meanwhile, Abu Dhabi’s quasi-sovereign wealth fund Mubadala added 300 BTC equivalent via ETF holdings, increasing its position to 5,000 BTC equivalent.
“SEC 13F data for Q1 supports our thesis that Bitcoin is attracting a wider range of buyers. While data on Bitcoin ETF holdings was disappointing, MSTR – a Bitcoin proxy – saw increased buying. Overall sovereign positions were unchanged due to the Wisconsin pension fund selling its ETF holdings,” Kendrick concluded.
The data reinforce Standard Chartered’s outlook that institutional and sovereign flows—both direct and indirect—will be a key driver of Bitcoin’s ascent to $500,000 in the coming years.
Chart of the Day
Governement holdings of BTC ETFs and MSTR. Source: Standard Chartered
This chart illustrates the total government holdings of Bitcoin ETFs and MicroStrategy’s MSTR stock from Q4 2023 to Q1 2025, measured in ‘000 (thousands) BTC equivalents. Based on the chart, holdings have grown steadily, peaking in Q1 2025 at around 18,000 BTC.
The chart shows that key contributors include Abu Dhabi (ETFs), Norway, Sweden, South Korea, France, New York, Wisconsin (ETFs), Michigan (ETFs), Switzerland, Liechtenstein, California, North Carolina, Saudi Arabia, and Kentucky, with varying contributions across quarters.
Byte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
A new report shows that Binance almost has a monopoly in the CEX market in terms of crypto airdrop distribution and staking rewards. In 2024, the exchange received $2.6 billion of a total of $2.7 billion in rewards, amounting to 94% of the entire market segment.
In an exclusive press release shared with BeInCrypto, Binance also revealed that it’s making substantial changes to its airdrop services to improve user experience and make participation easier.
In the past year, the exchange has become synonymous with the latest airdrops, as most users are accessing their rewards through the platform.
Exchanges with Most Launchpool Rewards and Airdrops in 2024. Source: CoinMarketCap
Based on this impressive performance in the airdrop sector, Binance has substantially upgraded a few of its services. The platform has revamped its Launchpool and BNB Earn pages, making it easier for users to both track and participate in airdrops.
“With these upgrades, we’re making it easier than ever for users to unlock the full potential of BNB and participate in high-quality token launches. The redesigned Binance Launchpool and BNB pages reflect our commitment to user education, simplicity, and maximizing rewards,” said Jeff Li, VP of Product at Binance.
The updated BNB page will give Binance users key benefits, such as real-time information on airdrops across its platforms, including Launchpool, Megadrop, and HODLer Airdrops.
Users will also see features like trading fee discounts, VIP perks, and a historical rewards section. These improvements are designed to help the firm maintain its significant dominance while continuing to focus on integrity.
Hopefully, these improvements will allow the firm to maintain its significant dominance while maintaining its usual integrity. Last month, Binance Research identified some systemic problems with airdrops in general, and the exchange seems particularly concerned with its reputation.
