The crypto trading platform, ranked fifth on CoinGecko, stopped accepting new registrations on Sunday and plans to shut down all remaining positions by Dec. 31.
Igor Runets has been transferred to a pre-trial detention facility from house arrest as he faces accusations of failing to deliver on a contract.
The central bank's draft rules require digital asset platforms to hold up to $2.8 million in liquid capital as a sweeping regulatory framework looms.
The EU is considering a ban on third-country crypto services providers for the first time and is targeting 14 crypto companies, which it has not named yet.
BitMEX, co-founded by Arthur Hayes in 2014, redefined the global crypto market by introducing the 100x leverage perpetual swap.
While citizens still cannot use Bitcoin to buy groceries, the Kremlin is officially letting companies use digital tokens to bypass sanctions and other global trade hurdles.
The government also reaffirmed plans to pilot tokenized government bonds next year and explore tokenizing state-owned real estate.
The $400 billion wealth fund plans to expand AI holdings to 15% of its portfolio by 2031 from the current 6%.
The funds were seized during an investigation into an international hacker group accused of laundering proceeds from data theft through high-value property.
The firm’s global general counsel, Peter Wilkinson, has taken over as CEO from Stephan Lutz.
On-chain data shows trading volume in the crypto sector has slumped to the lowest level in two years, a sign that investors have turned their attention away from the market. Crypto Trading Volume Has Seen A Notable Decline In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the trading volume of crypto assets. The “trading volume” here refers to an indicator that keeps track of the total amount of a given token that’s becoming involved in trading activity on the various centralized exchanges. Related Reading: Bitcoin Bottom Not Here Yet? This Indicator Remains In Transition Phase When the value of the metric rises, it means exchanges are observing increased activity surrounding the asset. Such a trend implies the token is attracting attention from traders. On the other hand, the indicator going down suggests investors may be losing interest in the market as they are participating in fewer trades on exchanges. Now, here is the chart shared by Santiment that shows how the trading volume of the different top-cap cryptos has changed over the last few years: As displayed in the above graph, the trading volume peaked for the combined crypto sector back in mid-2025. Since then, the indicator has followed a downward trajectory for the various coins. After the latest continuation of the downtrend, the crypto trading volume has declined to its lowest level since mid-2024. “Traders appear reluctant to aggressively buy or sell as macro uncertainty, geopolitical tensions, and recent liquidations keep participants on the sidelines,” noted the analytics firm. While the trend may look bearish at first glance, the past pattern could suggest otherwise for the market. “Historically, some of crypto’s strongest recoveries have emerged from periods when interest, volume, and participation were at their lowest,” explained Santiment. Considering this, it now remains to be seen how the sector will develop in the near future. Related Reading: Dormant Cardano Whales Suddenly Come Alive: Is A Turning Point Near? While crypto volume may have waned, the same hasn’t been true for adoption. As highlighted by the analytics firm in another X post, the Total Amount of Holders, an indicator tracking the total number of non-empty addresses present on a given network, has been climbing for the different top assets in recent years. From the chart, it’s apparent that Ethereum is the crypto that has enjoyed the strongest adoption, with the Total Amount Of Holders sitting at 195 million. “While social media remains focused on $ETH’s underperformance, user adoption has continued moving in the opposite direction,” said Santiment. Bitcoin Price At the time of writing, Bitcoin is floating around $62,700, up 1.8% in the last 24 hours. Featured image from Dall-E, chart from TradingView.com
The new rules, which are expected to come into effect in 2027, aim to foster innovation and crypto market growth to meet internal and external demand for digital asset services.
The US Commodity Futures Trading Commission (CFTC) has unveiled its first regulatory framework for prediction markets, releasing what it described as a proposed approach to governing the industry under American law. The plan, issued by the agency on Wednesday, would establish standards for certain types of wagering while leaving markets tied to elections and politics largely outside the category of activities that would trigger more intensive scrutiny. Where The Line Is Drawn The new proposal sets out how the agency would start determining whether a contract should be prohibited. Under the draft, the CFTC said it preliminarily views both sporting wagers and wagers involving games of chance and pure luck as falling under “gaming.” At the same time, it suggests that wagering on sports outcomes is likely not broadly contrary to the public interest, while staking money on gambling or games of pure luck likely would be. The framework further argues that prediction markets based on sports scores, price spreads, win-loss outcomes, tournament advancement, and similar data may serve a “price discovery” function and provide meaningful information. Related Reading: XRP May Reach $10 By 2027—But Bearish Conditions Could Push It Below $1, Expert Says Where the proposal draws sharper boundaries is with specific categories of sports-related betting. The CFTC indicated that wagering on player injury, fighting, children’s sports, officiating, or wagering structured in a way that could encourage cheating was unlikely to meet the public interest standard. The draft also addresses election-related contracts, noting that election wagers are “contests, not gaming,” and therefore fall outside the “enumerated activities” that would allow the CFTC to apply its 90-day review process to event contracts. The agency’s proposal also focuses heavily on how it would evaluate whether a contract crosses too far into areas like terrorism, war, or assassinations—topics that, the draft notes, domestically regulated exchanges have largely avoided offering. 45-Day Comment Period For Prediction Markets In its announcement, the CFTC acknowledged that the rules released Wednesday are “thin,” and said additional rulemaking about prediction markets could be introduced in the future. After Wednesday’s release, the proposed rule will undergo a 45-day public comment period. CFTC Chair Mike Selig emphasized the commission’s intent as it prepares for further steps in the rulemaking process. He said in a statement that the CFTC would protect the integrity of its regulated markets while still allowing “responsible innovation. Selig added that the new prediction markets proposal provides a durable and transparent framework for identifying the contracts Congress directed the agency to scrutinize, while also letting legitimate markets continue. Related Reading: Treasury Stablecoin Proposal Draws Major Warning From Hyperliquid Policy Center–Here’s Why Beyond defining the types of wagering that may fall on different sides of the line, the proposal lays out a step-by-step process for prohibitions. The CFTC would first determine whether the contract is actually tied to an event happening. It would then evaluate whether the event fits within the categories defined in the Commodity Exchange Act, and finally conduct a public interest analysis to decide whether the prediction markets’ contract should be banned or allowed. Featured image created with OpenArt; chart from TradingView.com
Hayes said he would reconsider his stance if his assumptions that an exploit is still possible prove to be incorrect.
Mastercard said Wednesday it plans to open its global card-settlement network to regulated stablecoins, a move designed to let card issuers and acquirers clear card transactions directly on-chain. The company says the service will operate across eight different blockchains, extending on what it describes as “real-world utility” for digital assets. Alongside the expanded on-chain settlement approach, Mastercard also plans to introduce intraday, weekend, and holiday settlement cycles. Mastercard Moves Toward On-Chain Settlement In its announcement, Mastercard said the stablecoins include Tether’s rival, Circle, and its USDC stablecoin, which Mastercard noted is already supporting early on-chain settlement activity in select markets. Mastercard also listed stablecoins issued by Paxos, including PYUSD, USDG, and USDP. In addition, the company cited Ripple’s RLUSD and SoFi’s SoFiUSD as part of the initial stablecoin lineup for the network. Related Reading: Bitcoin Crash Explained: Binance Research Blames Outflows Toward US Equities The stablecoins will be enabled across a broad set of supported blockchain networks, including Arbitrum (ARB), Base, Canton, Ethereum (ETH), Polygon (POL), Solana (SOL), Tempo, and the XRP Ledger (XRPL). Mastercard did not describe any changes to the type of partners who can benefit from the network, but it said the plan will allow customers to use both traditional payment settlement and digital-asset-based settlement through the same infrastructure they use today. More Networks And Assets Planned Through 2026 Raj Dhamodharan, executive vice president of Blockchain & Digital Assets at Mastercard, said the company views the next stage of stablecoin adoption as being about practical use in areas where timing and liquidity matter. The executive pointed specifically to settlement as a key factor, and he described intraday and weekend options as a way for partners to better manage liquidity in an always-on digital economy. Related Reading: Crypto In 401(k)s: Senators Sanders, Warren Letter Warns $14 Trillion At Risk From DOL Proposal Mastercard added that the expanded capabilities will roll out globally “subject to regulation.” The company said the initial deployment will be limited to “parts of the United States and Latin America.” The payment giant indicated that additional regions, partners, and regulated stablecoins will be added through 2026, as its stablecoin settlement offering expands beyond the initial rollout areas. Featured image created with OpenArt; chart from TradingView.com
Democrats in Congress are pressing back against a US Department of Labor (DOL) proposal that could significantly expand how Americans can use 401(k) retirement accounts—particularly by allowing allocations to crypto assets. In a letter shared with The Guardian, Senator Bernie Sanders, Senator Elizabeth Warren, and House education and workforce committee ranking member Bobby Scott of Virginia said the proposal would place an estimated $14.2 trillion in 401(k) savings at risk. They also warned that the change likely would not survive a court challenge. The Fight Over Crypto Access In Retirement Plans According to the letter, the proposal would “strip long-held investor protections from retirement savers” and encourage “more risky, complex, and expensive investments.” The lawmakers called it harmful to American workers, pointing to the way these alternative assets can behave during market stress. They argue that extreme price swings are not a hypothetical risk but a known feature of the crypto market and other private-market products. Related Reading: Bitcoin Price Falls To $67,000 And Breaks The Map For Bulls—Here’s What Happens Next Beyond price volatility, the lawmakers warned that the change could mean higher costs. They said the rule could expose workers to higher fees and erode long-term returns. Those concerns have also been echoed by regulators and watchdog groups. The Financial Industry Regulatory Authority (Finra) has cautioned that crypto investments “have experienced higher levels of volatility relative to more traditional investment assets” and that “the risk of losing all of your investment is significant.” In addition, the FBI reported that cryptocurrency fraud complaints are among the highest-loss categories in cyber-enabled fraud. The bureau said Americans reported more than $11 billion in losses in 2025, underscoring what Democrats describe as another layer of danger beyond market swings. Critics See Conflict Of Interest Democrats also raised questions about political and financial connections. They pointed to alleged links between the crypto industry and President Donald Trump, arguing the proposal could present a conflict of interest. The Trump administration, however, has defended the approach as a way to expand investment choices. In a statement, the labor secretary’s acting counterpart, Keith Sonderling, said: The department’s days of picking winners and losers are over. Our rule clearly spells out that managers must evaluate any and all potential product offerings by following a prudent process. Related Reading: Binance Unveils Trading Access To Over 7,000 US Stocks, ETFs—And Adds A New Tokenization Plan Treasury Secretary Scott Bessent similarly argued the move advances the administration’s broader goals, adding that the Treasury Department is “proud of this rule-making effort,” describing it as another step toward President Trump’s “Golden Age.” Featured image created with OpenArt; chart from TradingView.com
Robinhood (HOOD) and Coinbase (COIN) ended the week’s final session in the green, with Robinhood’s stock leading the move as US regulators took steps that could expand the local market for crypto derivatives. Shares of Robinhood rose sharply, jumping about 11% on the day to close around $94 per share, which also marked the highest level the stock has reached since February. Coinbase (COIN) was not far behind, gaining close to 7% as the exchange’s shares finished the session near $189. That level sits in the middle of the stock’s broader consolidation range of roughly $160 to $215, a band it has been trading within since late March. CFTC Sparks HOOD And COIN Rally The rally for both companies was widely attributed to action from the Commodity Futures Trading Commission (CFTC). Earlier on Friday, the agency announced it would allow US firms to offer perpetual (perps) futures trading, a potential catalyst for new product launches and expanded trading activity within the United States. In addition to that policy shift, the CFTC also moved that same day to issue a no-action letter to Coinbase. Under the regulator’s guidance, the letter permits Coinbase’s US customers to access the options and perpetuals the company already offers. Related Reading: JPMorgan CEO Goes Nuclear On CLARITY Act, Calling Coinbase’s Armstrong ‘Full Of S-t’ The impact of the regulator’s steps was not limited to Coinbase. Other US-based firms have signaled they are exploring perpetuals, including trading platform Gemini and Robinhood, which already offers the product in Europe. Mizuho analyst Dan Dolev summarized the opportunity by saying the main message from the day was that it represented a “massive market opportunity.” He added that there is potential for Coinbase and other firms to win a share of trading activity that, so far, has mostly been happening on offshore venues. Robinhood Price Targets Rise Mizuho also lifted its price target for Robinhood from $110 to $115. Separately, Citizens reiterated its “market outperform” rating and maintained a $155 price target. One item cited in the positive sentiment was Robinhood’s plan to give users the ability to connect artificial intelligence (AI) agents to their accounts for trading, as well as for credit card purchases. Related Reading: Can Ripple’s Fed Master Account Approval Trigger A New XRP Bull Run? AI Model Says $80 Is Possible Robinhood also said customers will soon be able to direct AI agents to trade equities in a separate account, with limits set by the user. Support for options, event contracts, futures, and additional products is expected to arrive later, according to the company. Featured image created with OpenArt; chart from TradingView.com
On Thursday, Treasury Secretary Scott Bessent urged Congress to pass the CLARITY Act, a bill that would provide the crypto industry with a regulatory framework and the long-awaited clarity it needs regarding the classification of digital assets. Bessent Presses Lawmakers To Pass The CLARITY Act In remarks at the White House, Bessent emphasized that the goal of the CLARITY Act should be to bring digital assets into the US rather than letting activity remain largely offshore. He said: The most important thing we can do is to make digital assets come into the United States. Make the US the home. I would encourage the House and the Senate to get Clarity done. Related Reading: Ethereum (ETH) Drops Below $2,000—Why Standard Chartered Still Expects $40,000 By 2030 Bessent’s comments also targeted what he called the “wild, wild west” environment for digital assets outside the US. He argued that much of the confusion and controversy surrounding crypto stems from a lack of clear rules when the activity is happening offshore. “When you look at digital assets, all the nonsense that happens, all the things you read about, that’s because it’s the wild, wild west offshore. So we got to bring it onshore,” he said, before urging lawmakers again to “get CLARITY Act done.” CBDCs Off The Table The push comes after the CLARITY Act moved forward in the Senate earlier this month. The Senate Banking Committee approved its portion of the legislation, building on progress from January, when the Agriculture Committee successfully voted on its version. With those committee steps completed, the CLARITY Act must clear a full Senate vote, complete the legislative reconciliation steps required to finalize the bill, and secure a final agreement between the House and the Senate before the measure can move to the President’s desk. Related Reading: Hyperliquid (HYPE) In The Spotlight: Grayscale’s Latest Report Says What Comes Next Bessent also addressed the administration’s broader crypto policy direction, including central bank digital currencies (CBDCs). He said the US would not adopt a Central Bank Digital Currency, stating, “There will be no Central Bank Digital Currency. That would be the first step toward tracking. We took that off the table.” Featured image created with OpenArt; chart from TradingView.com
Political efforts tied to the crypto industry scored another set of wins in Texas, strengthening the case that the sector’s influence in US politics remains strong under a more pro-digital asset administration. According to reporting from Eleanor Terret of Crypto In America, the crypto industry went 6-for-6 backing winning candidates in the Texas primary runoffs held Tuesday night. Anti-Crypto Hits At The Ballot Box One of the biggest results came from the Democratic primary runoff in Texas’s 18th Congressional District. In that race, Terret reported that Rep. Christian Menefee defeated 20-year incumbent Rep. Al Green. Fairshake, the industry’s leading super political action committee (PAC), took credit for the win after spending roughly $6.5 million on the race, largely through advertisements supporting Menefee. Related Reading: Will XRP Price Ever Reach $200? Top Expert Discloses What Must Happen First A Fairshake spokesman, Geoff Vetter, argued that Green’s loss showed how anti-crypto positions can have real electoral consequences, noting that Green was the first Democratic incumbent this cycle to lose his seat. Vetter also said Fairshake would continue to “aggressively back” leaders such as Menefee. Elsewhere in Texas, several other races also went in the direction favored by crypto-aligned groups. Candidates Alex Mealer, Tom Sell, John Bonck, and Carlos De La Cruz all won their respective runoffs. In total, Fairshake reportedly spent roughly $1.8 million backing those candidates. Crypto-related efforts were also part of some Republican outcomes. Attorney General Ken Paxton’s upset victory over Sen. John Cornyn in the Republican Senate primary runoff reportedly drew support from crypto-aligned money as well. California Top-Two Primary Beckons With Texas now behind them, Terrett reported that crypto political groups are already looking ahead to the next targets. The next state on Fairshake’s radar appears to be Maryland. There, state lawmaker Adrian Boafo is running in the June Democratic primary for the state’s 5th Congressional District, and Fairshake has already spent about $2.12 million supporting him. Related Reading: Ethereum (ETH) Next Rally Could Start With These Two Triggers, Top Analyst Says Beyond that, the industry is also expected to focus on California’s top-two primary in the state’s 32nd Congressional District next week. In that race, long-time crypto critic Rep. Brad Sherman faces Jake Levine, a former Biden White House official, as both compete to advance to November’s general election. Featured image created with OpenArt; chart from TradingView.com
By establishing a national charter under the executive branch, United Texas Bank said it intends to enable AI-driven payment rails to intercept global digital dollar volumes.
The fintech-forward private bank said it is the first Italian lender to get Bank of Italy approval under MiCA to offer digital asset custody and transfers.
The odds of the CLARITY Act becoming law this year are fading, according to TD Cowen, even after the bill cleared key legislative hurdles in the Senate. While the measure successfully passed through the Senate Agriculture Committee and the Senate Banking Committee, a full Senate vote—and the final approval needed to send the bill to the finish line—now looks increasingly unlikely before year’s end. CLARITY Act Momentum Hits New Wall TD Cowen managing director Jaret Seiberg, writing in a Tuesday note from the firm’s Washington Research Group, said his team remains pessimistic that the CLARITY Act will be enacted this year. In his view, the main challenge is political: whether Democrats can support the bill if it includes provisions aimed at addressing presidential conflicts of interest. Related Reading: Ethereum Price Roadmap For The Rest Of 2026: Bull, Base, And Bear Scenarios Unpacked At the same time, Seiberg warned that Republicans could become more reluctant to advance the legislation if doing so requires them to vote against amendments intended to target or respond to Trump-related concerns. Seiberg said the progress in the Senate Banking Committee earlier this month does not necessarily signal a broad agreement across parties. Although the committee advanced the bill despite objections from Democrats and banks, he described that outcome as shifting the fight to the full Senate rather than resolving the underlying disputes. Seiberg also pointed to several Trump-related developments he says are making the political environment tougher for the CLARITY Act. One driver, he noted, is a legal case involving the Internal Revenue Service (IRS) that has already been resolved. Washington Tensions Rise The dispute resulted in the creation of a $1.776 billion anti-weaponization fund and permanently bars the IRS from auditing past tax returns for Trump, his family, and related companies. Seiberg’s takeaway is that the fallout from that dispute is likely to further raise the temperature in Washington, making it harder to find consensus on legislation like the already delayed CLARITY Act. Seiberg also cited a recent New York Times investigative report alleging that prediction markets and crypto-related interests may have influenced efforts aimed at the Commodity Futures Trading Commission (CFTC). He stressed that, as of his note, the claims have not been confirmed. Still, he pointed to a response from CFTC Chair Michael Selig, who told the New York Times that the agency is focused on major wrongdoing and is not “playing favorites.” Related Reading: XRP, ETH, SOL, LINK Look Cheap—The Catalysts That Could Drive The Next Leg Up Another factor cited in the TD Cowen note involves government financial disclosures released earlier this month. Those reports indicated that roughly 3,600 stock trades were executed on Trump’s behalf during the first three months of 2026. Seiberg argued that the surrounding controversy makes it more likely that lawmakers choose delay over action—especially as the midterm election approaches and the political calendar narrows the window for additional postponements. Featured image created with OpenArt; chart from TradingView.com
A new report from market expert Sam Daodu argues that several large-cap cryptocurrencies, including XRP, are still “undervalued” relative to the activity and infrastructure building underneath them. In Daodu’s view, the altcoin market hasn’t fully recovered from the drawdown that pushed crypto into bear territory—an environment where most major tokens have fallen much harder than Bitcoin (BTC) and have struggled to regain momentum. The Ethereum Puzzle The expert starts with Ethereum (ETH), pointing out an interesting disconnect; the price is down, yet the network’s usage remains strong. Ethereum is trading about 57% below its August 2025 all-time high of $4,946. But he stresses that on-chain fundamentals don’t line up with that level of weakness. Related Reading: XRP Channel Pattern Points To $5, Says Korean Analyst Ethereum, he says, holds roughly $43 billion in total value locked (TVL) across its decentralized finance (DeFi) protocols—more than any other blockchain—while also maintaining the largest pool of DeFi capital, the widest stablecoin base, and some of the deepest trading infrastructure in the ecosystem. Daodu links part of that valuation gap to an upgrade schedule aimed at improving performance. He points to Glamsterdam, targeted for mid-2026, as a potential catalyst that could address the longstanding complaints that have kept ETH below current peaks despite record on-chain activity. CLARITY Act Momentum For XRP XRP is another centerpiece of the report, and Daodu’s case is built on the idea that the ledger is seeing increased activity even as price consolidation continues. He says XRP has spent much of 2026 trading between $1.30 and $1.50, sitting around 62% below its July 2025 high of $3.65. While that looks like a stagnant range on charts, Daodu argues the XRP Ledger has been “busier than ever.” He points to daily transactions hitting 3 million in March, driven by new trading pools, stablecoins, and real-world assets (RWAs) moving onto the chain. Then came a regulatory turning point. On May 14, the US Senate Banking Committee advanced the CLARITY Act in a 15-9 vote. He describes the bill as one that would permanently classify XRP as a commodity under federal law, with the next step being consideration on the Senate floor. Daodu emphasizes that while the joint SEC-CFTC ruling already gave XRP commodity status at the agency level, an agency ruling can be reversed by a future administration—whereas legislation is harder to undo. That difference, he says, is part of why institutions continue accumulating XRP even as the token’s price has struggled. He adds that Standard Chartered expects the bill could bring an estimated $4 billion to $8 billion into spot XRP ETFs and push the token to at least $8. Solana’s ‘Price Vs Fundamentals’ Case Solana’s section follows a similar price vs. fundamentals theme. Daodu says SOL peaked at $295 in January 2025, then slid nearly 70% to $85. Even with that pressure on the chart, he argues the network’s trajectory remains constructive. He highlights the March 17, 2026 SEC-CFTC guidance that classified XRP and Ethereum as digital commodities, noting that the guidance also covered Solana and cleared the security label that had kept large funds cautious. On top of that regulatory backdrop, Daodu points to developer growth and usage metrics. Solana reportedly added more than 11,500 new developers in the first nine months of 2025, second only to Ethereum. Why Chainlink Looks Cheap Chainlink, Daodu suggests, may be undervalued precisely because it doesn’t always dominate mainstream retail conversations. He says LINK trades around $9.50, down 82% from its May 2021 all-time high of $52.99. But he argues that Chainlink’s role in the market is far bigger than its spot price reaction. Daodu points to Chainlink’s price feeds and its Cross-Chain Interoperability Protocol (CCIP), describing how these tools underpin the real-world asset (RWA) economy. Related Reading: The Bitcoin Billion-Dollar Dump: Here’s Why The BTC Price Keeps Crashing He also points to scale and volume. Daodu says Chainlink secures over $75 billion in total value across crypto, and that CCIP alone moves around $18 billion in transfer volume every month. Analysts, he adds, project the oracle sector could grow tenfold by 2030, and that if the prediction holds, Chainlink would be positioned as the backbone of that expansion. Featured image created with OpenArt; chart from TradingView.com
XRP is trading through another rough stretch alongside the wider crypto market, but the story beneath the price chart is not as quiet as the red candles show. The entire crypto market has been down by over 5% in the past seven days, and the XRP price has also struggled to hold momentum, but the latest volume updates show that traders, large holders, ETF investors, and XRP Ledger users are still active. Related Reading: New Bitcoin Lows? Analysts Say Chances Are ‘Extremely Slim’ Major XRP Volume Updates The first major volume update is tied to XRP’s largest holders. Data shared by crypto analyst Ali Martinez shows that large wallet holders accumulated 71 million XRP over seven days, even as the token remained under pressure. XRP was down nearly 5% over the week and traded around $1.36 at the time the analyst shared the data, showing that the buying came during a weak and volatile stretch for the asset. This is important because whale accumulation changes the tone of the selloff. It shows that the market crash is not only producing fear-based selling, but it is also creating a trend where larger wallets are increasing exposure while weaker hands are selling. The price has not yet reflected that buying in a major way, but the behavior is still worth watching. XRP Ledger payment activity has also strengthened notably during the latest stretch of the market downturn. The number of payments from one account to another climbed from below the 1 million count earlier in the week to 1.22 million payments by May 22. Number Of XRP Payments. Source: XRPScan The rise was not limited to transaction count alone. XRP payment volume also increased from levels near 200 million XRP around May 16 and May 17 to more than 400 million XRP by May 18. The figure stayed elevated through the following days and was still above the 400 million XRP region by May 22. That means more payments were being processed, and a larger amount of XRP was also moving between accounts. XRP Payments Volume. Source: XRPScan ETF Inflows Add A Different Kind Of Volume Another important volume signal is coming from the ETF market. Data from SoSoValue shows that XRP-linked ETF products recorded more than $65 million in weekly inflows last week. This week’s flow also came up to a positive $22.04 million with net inflows everyday, even as the broader crypto market was under pressure. The inflows into Spot XRP ETFs have significance because ETF inflows are a different kind of demand from regular exchange trading. Spot and futures volume can be based on short-term trades and leverage trading, but ETF inflows are investors taking exposure through more structured investment vehicles. Related Reading: XRP May Be Headed For A Stunning Year-End Surge, This CEO Says The timing also matters. XRP ETF flows are coming in while the price is under pressure, meaning ETF buyers are not waiting for a price breakout. This creates a quiet support layer in the background, even if it has not been strong enough to overpower the wider market downtrend yet. Featured image from Pixabay, chart from TradingView
A local banker told CoinDesk that in light of Wall Street’s aggressive push into the crypto industry, Minnesota's financial institutions could not afford to remain on the sidelines.
The company is initially offering perpetual futures on real-world assets including oil, silver, copper and gold.
Market analyst Aletheia released a report on Wednesday, taking a close look at the first six days of trading for Hyperliquid ETFs launched by 21Shares and Bitwise. The analysis focuses on how early inflows are stacking up across major crypto assets and what those moves may signal for demand going forward. First Six Days Under The Microscope In market-cap-adjusted terms, Aletheia found that the Hyperliquid ETFs generated more flows than Bitcoin (BTC) on three of the first six trading days. The same comparison also showed strength versus Ethereum (ETH): Hyperliquid’s ETF products logged higher inflows than Ethereum on five out of six days. Related Reading: Bitwise Bullish on Hyperliquid: HYPE Labeled ‘Undervalued’ As It Rallies 20% The Solana (SOL) spot exchange-traded fund sector produced a different picture. According to the report, Solana posted higher market-cap-adjusted flows than Hyperliquid on four of the first six trading days. On Tuesday, however, Hyperliquid spot ETFs recorded materially stronger inflows than any of their peers. The analyst emphasized that it’s still too early to say whether this spike is the start of a sustained trend, or whether it reflects a short-term burst of demand that may normalize over the coming days. Hyperliquid Near Bull-Run Highs Beyond the raw inflow numbers, the report reveals another layer: the Hyperliquid spot ETFs are competing with the Assistance Fund — the platform’s economic structure for token buybacks — in terms of market buying pressure. In the first six trading days, the ETFs bought 2.5 times as much HYPE as the Assistance Fund bought and burned. The “burning” element is important context, since it differs from a straightforward accumulation mechanism. Still, when the discussion is framed around buying pressure and market impact, Aletheia argues that the ETFs are clearly adding to the fuel. Related Reading: Solana ETF Falls Behind As XRP Collects More Cash—Here’s The Catalyst Driving The Split The combination of ETF-driven activity and increasing token demand has moved Hyperliquid close to current price peaks of $59 reached during last year’s bull run. Data from CoinGecko shows the altcoin trading at $51.88 when writing is up 33% over the past week alone. At this level, the token is only 12% below its current record, leaving room—at least in relative terms—for a potential “discovery” phase if the ETF-related inflows continue to build. Featured image created with OpenArt, chart from TradingView.com
Minnesota established the midwest’s first unified digital asset safety net for banks and credit unions.
On-chain data is pointing to another interesting accumulation move by Tom Lee’s BitMine Immersion Technologies, with a whale tracker flagging a $197.64 million Ethereum purchase routed through four newly created wallets. Related Reading: XRP Records Biggest Spike In Network Usage In 2 Months The latest Ethereum buy has come during a period of weakness, which has seen the Ethereum price losing $2,300, and $2,100 is now in focus. BitMine Adds 89,026 ETH As Treasury Accumulation Continues On-chain analytics firm Lookonchain flagged a series of transactions suggesting that BitMine, the cryptocurrency mining and treasury firm chaired by prominent investor Tom Lee, may have quietly acquired an additional 89,026 ETH valued at approximately $197.64 million at current market prices. According to Lookonchain, the funds were routed through four newly created wallet addresses, which received the ETH from major exchanges Kraken and FalconX. Lookonchain noted that the wallets were created shortly before the transfers. The image shared with the transaction data shows a 25,000 ETH transfer from Kraken worth about $55.67 million, three separate 15,000 ETH transfers from FalconX worth about $33.3 million each, and another Kraken transfer of about 19,026 ETH worth $42.28 million. BitMine had slowed its ether purchases in the week ending May 11, buying 26,659 ETH worth approximately $63 million, about a quarter of its recent average weekly pace. Chairman Tom Lee said the firm was moderating its buying as it approached its long-term goal of owning 5% of Ethereum’s total supply. The company has spent the past year building one of the most interesting Ethereum treasury strategies. In its May 11 update, BitMine said it held 5,206,790 ETH, alongside 201 BTC, $775 million in cash, and other holdings. BitMine also revealed that about 4.71 million ETH of its holdings were staked, worth about $11.1 billion. Interestingly, the staking has so far been profitable, with the company also noting its annualized staking revenues have reached $319 million and a 7-day annualized yield of 2.86% from its own staking operations. An Ethereum OG Buys The Dip BitMine is not the only significant player quietly accumulating. On-chain data tracked by Lookonchain reveals that a long-tenured Ethereum early adopter, known as an OG in the community, has returned to the market amid the recent price weakness. According to Lookonchain, this wallet received 11,005 ETH from ShapeShift a decade ago at an entry price of just $3.46 per token. Over a year ago, those holdings were sold for 30.56 million USDC at $2,777, realizing a profit of $30.5 million and an 803x return on the original position. As the market drops, an #EthereumOG who made $30.5M(803x return) is buying the dip on $ETH! 10 years ago, this OG received 11,005 $ETH from ShapeShift at just $3.46 each. Over a year ago, he sold them for 30.56M $USDC at $2,777, making $30.5M in profit – an 803x return. Today,… pic.twitter.com/4N2o9qNpvd — Lookonchain (@lookonchain) May 16, 2026 Now, with ETH prices declining, the same wallet has re-entered the market, deploying 4.26 million USDC to purchase 1,951 ETH at approximately $2,182 per token. Interestingly, Lookonchain noted that the wallet may continue buying. Related Reading: Warren Zeroes In On Crypto Deal Structure As $75M Loan Draws Attention At the time of writing, Ethereum is trading at $2,180. Featured image from Pexels, chart from TradingView
Bitcoin’s latest on-chain picture is beginning to look less like panic and more like patience. Data from CryptoQuant, highlighted by crypto analyst Darkfost, shows that long-term holder supply has climbed back to 15.26 million BTC, returning to a level last seen in August 2025. The move comes at a sensitive point for Bitcoin, with the price still trying to build strength around $80,000 while traders are currently split between another breakdown and a recovery. Related Reading: XRP Records Biggest Spike In Network Usage In 2 Months Long-Term Holders Add 316,000 BTC In 30 Days On-chain data tracked by CryptoQuant shows that Bitcoin’s long-term holder (LTH) supply has recovered to 15.26 million BTC, levels last seen in August 2025. However, the most important detail in the CryptoQuant chart is not only that long-term holder supply is rising but also the speed of the increase in the past month. LTH supply has grown by roughly 316,000 BTC over the past 30 days. That means more coins are aging into long-term holder status, which is a category used to identify investors who have held their Bitcoin for at least about six months and are less likely to react to short-term volatility. As shown in the chart image below, the green bars representing the 30-day change in LTH supply have increased into positive territory in recent weeks, which is a distinct reversal from the red distribution phase that dominated late 2025. At the end of November, the same 30-day metric showed a negative change of about 650,000 BTC, meaning a large amount of supply had moved out of long-term holder wallets during that period. That earlier phase coincided with a more vulnerable market structure as Bitcoin rolled over from its October 2025 all-time high and began a deeper correction. Bitcoin LTH Supply Change Darkfost also relayed this change to the earlier movement of 800,000 BTC from Coinbase. His point is that May 23 could become an important date for on-chain discussions, as those coins will officially cross the six-month threshold. Once that happens, then investors could see more commentary around how much of that supply is being reclassified into the hands of long-term holders. Bitcoin Showing Strength The long-term holder data also fits into a separate outlook from analyst Michaël van de Poppe, who noted that the market may be too focused on new lows. According to the analyst, Bitcoin’s 25% rebound from its recent lows, despite Middle East war concerns and a rise in yields, is a sign of resilience. In his argument, losing the 21-day moving average does not automatically mean Bitcoin must collapse into new lows, especially since the price is still holding above $76,000. Van de Poppe also compared Bitcoin against gold, saying the BTC/gold RSI has fallen to one of its lowest readings ever. However, previous low readings in the BTC/gold RSI did not happen during the start of a bear market but came during the beginning of stronger Bitcoin phases. Bitcoin Price Chart. Source: @CryptoMichNL On X A crash to new lows would require Bitcoin to invalidate the 200-week moving average, something that would break most cycle behavior outside extreme shocks such as the Luna and FTX collapses in 2022. Related Reading: Warren Zeroes In On Crypto Deal Structure As $75M Loan Draws Attention This does not mean that Bitcoin cannot test lower support. A move to $70,000 could still happen as a support test, but the difference is that he does not see new lows as the most likely outcome. Featured image from Unsplash, chart from TradingView