Hyperliquid, EdgeX and Pump.fun returned a combined $96 million to token holders in 30 days, as the crypto community shifts its focus from transaction volumes to real earnings.
BAYC floor prices have doubled in a month as traders rotate back into speculative crypto bets, reviving hopes of a broader NFT recovery.
Intel's deal with Apple highlights the strategic shift towards diversified chip supply chains, boosting US semiconductor manufacturing resilience.
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Digital Asset Holdings' valuation surge signals resilience in enterprise blockchain, highlighting investor confidence amid a cooling crypto market.
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According to the latest on-chain data, the Ethereum-native iteration of USDT, the world’s largest stablecoin, has just witnessed its largest exchange outflow in recent months. 1.29 Billion USDT Flow Out Of Crypto Exchanges In a May 9th post on the X platform, blockchain analytics firm Santiment revealed that USDT on the Ethereum network recently recorded its largest flow out of exchanges in months. Around 1.29 billion stablecoins (the highest since February) were transferred out of exchanges on Friday, May 8th. This on-chain observation is based on the change in the Exchange Flow Balance indicator, which measures the net amount of tokens moving into and out of centralized exchange addresses. Related Reading: This 1 Chart Explains Why Bitcoin Is Winning And Ethereum Is Losing Right Now A spike in the Exchange Flow Balance metric indicates that more tokens (USDT, in this case) are flowing to centralized exchanges. On the other hand, when the indicator declines, it suggests that investors are withdrawing assets from these trading platforms. Santiment explained the significance of investors moving their USDT away from exchanges, noting that this would ordinarily mean they are withdrawing their buying power from trading platforms where they can use it for instant cryptocurrency purchases. On the surface, this reduction of buying power (or capital) on exchanges is a bearish signal for crypto markets. However, the analytics firm believes that the significant USDT outflows (of this reported magnitude) suggest that institutional investors are moving capital to self-custody wallets, DeFi protocols, or OTC (over-the-counter) desks ahead of larger planned transactions. Therefore, capital is believed to be flowing out of the ecosystem, not entirely, but being repositioned for even larger purposes. Santiment also highlighted the pattern often surrounding exchange outflow spikes of this magnitude. For instance, as observed in the chart below, the Bitcoin price witnessed a mini-pullback over the subsequent two weeks following the 3.72 billion USDT outflow on February 9. What’s more interesting is that this pullback birthed the buying opportunity that has seen the Bitcoin price jump by more than 30% in the past few months. Santiment concluded in the social media post: Whether this current capital re-enters exchanges as buying pressure in the near term is the key variable to monitor. If USDT begins flowing back onto exchanges in the coming days, it would signal that deployment into crypto assets is imminent. Crypto Market Capitalization As of this writing, the total cryptocurrency market capitalization stands at around $2.66 trillion, up nearly 4% over the past week. Related Reading: 14,600 Bitcoin Sold in Profit in One Day: Here Is How BTC’s Own Structure Broke It Below $80K Featured image from iStock, chart from TradingView
The SUI price is showing renewed bullish momentum after breaking out of a prolonged consolidation range that capped the crypto for nearly three months. As the broader crypto market recovers alongside Bitcoin’s rise above key levels, SUI has started outperforming several altcoins with a strong breakout above the psychological $1 mark. The recent rally has …
The revelation of the Israeli base in Iraq heightens geopolitical tensions, potentially undermining peace prospects and increasing regional instability.
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The incident exacerbates geopolitical tensions, potentially prompting military interventions and prolonging disruptions in global trade routes.
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The incident exacerbates geopolitical tensions, impacting global oil prices and crypto markets, while increasing scrutiny on crypto transactions.
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Bitcoin's vulnerability to inflation and rate hikes highlights broader economic uncertainties, potentially affecting investor confidence and market stability.
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UFC's strategic embrace of reality TV and technology transformed it from near bankruptcy to a global powerhouse.
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South Korean crypto holdings fell from $83 billion to $41 billion in just over a year as investors shifted to stocks.
BTC’s rising wedge points to a possible drop toward $70,000 as Strategy pauses buying and inflation cools Fed rate-cut hopes.
Four days before the Senate Banking Committee votes on the CLARITY Act, major banking trade groups have submitted a joint letter demanding changes to a stablecoin yield compromise they had already accepted. The American Bankers Association, Bank Policy Institute, and three other major banking lobbies sent the letter to Senate Banking Committee leadership after the …
BlackRock is accelerating its push to bring Wall Street yields to the blockchain, filing paperwork with US regulators to introduce a pair of tokenized money market funds. The move represents a major escalation in the asset management giant's strategy to bridge traditional financial instruments with the rapidly expanding digital asset ecosystem. According to May 8 […]
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The opening days in May have been accompanied by a rise in Ethereum on-chain activity. In a recent post on X, a pseudonymous analyst Darkfost dives into the intricacies of this activity and its impact on price. Related Reading: Ethereum Is Going Up While Shorts Are Piling In: Find Out What Usually Follows Binance Records Massive Ethereum Inflow According to Darkfost, the resurgence of activity on the Ethereum network corresponds with the sideways movement of the second-largest cryptocurrency, trading between $2,250 and $2,450. Further details of this recent activity surge show that Binance has seen multiple large hourly ETH inflow spikes since the beginning of May. The three largest of these Ethereum transfers to Binance were reported as follows: on May 6, about 216,152 ETH, worth approximately $511 million, was transferred to Binance. Although smaller in comparison, on May 8, 98,552 ETH valued at $224 million also entered Binance. A larger number of transfers was also observed on May 9, totaling approximately $288 million. Interestingly, many of these inflows into Binance occurred while Ethereum was entering corrective phases. So, rather than reflecting calculative profit-taking among Ethereum’s investors, this suggests that Ethereum users are driven more by emotion. Related Reading: Swiss Bitcoin Reserve Effort Withdrawn After Resistance From Central Bank Rising Ether Reserves Could Signal Continued Consolidation In addition to its rising inflows, Ethereum’s reserves on Binance have also increased. Darkfost points out that about 3.62 million ETH are now held in reserves at the world’s largest exchange by trading volume; this figure accounts for approximately 24.6% of total Ethereum reserves across exchanges. Typically, growing reserves are viewed as a bearish or neutral signal because they imply more coins are available for potential selling. In contrast, declining reserves typically suggest that investors are withdrawing assets into private wallets for longer-term holding. Hence, the increase in Binance-held ETH may explain why Ethereum has remained trapped in a consolidation pattern despite periodic attempts at bullish momentum. Darkfost explains that this could be a sign of short-term instability among Ethereum’s large holders, which has played a major role in limiting its attempts to establish higher price grounds over the past weeks. Looking at the broader picture, Ethereum shows no real intent to break out of this consolidation. If reserve growth begins to dwindle and price strength improves, bullish sentiment around Ethereum could be restored. As of this writing, Ethereum is worth approximately $2,329, recording a measly 0.6% growth since the past 24 hours. Featured image from Freepik, chart from Tradingview
Nvidia's expansion in Israel strengthens its global R&D capabilities, potentially boosting innovation and economic growth in the region.
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The fire incident underscores ongoing instability in the Strait of Hormuz, affecting global oil supply and escalating geopolitical tensions.
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Putin's statement suggests a potential shift in geopolitical dynamics, impacting regional stability and international diplomatic relations.
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Increased military tensions in the Strait of Hormuz could destabilize global oil markets and heighten the risk of broader regional conflict.
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Iran's uranium enrichment stance may stall diplomatic progress, affecting regional stability and market confidence in a timely resolution.
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Ethereum is trading just above $2,330, a price that, on the monthly chart, is sitting just above within a long accumulation zone. However, recent market dynamics show that Ethereum is destined for far higher prices than $2,300 this cycle, and this is not only about traders waiting for another rotation into ETH. The outlook is that the Ethereum price will cross above $10,000 this cycle based on factors that are turning Ethereum into a base layer for regulated on-chain markets. Related Reading: Swiss Bitcoin Reserve Effort Withdrawn After Resistance From Central Bank Wall Street To Push Ethereum Price To $15,000 According to a crypto analyst that goes by the name Crypto Patel on X, Ethereum is going to trade somewhere between $10,000 and $15,000 this cycle, and there are about 10 reasons why this is going to happen. His price prediction is based on the idea that Ethereum is no longer being controlled only by retail speculation or short-term market sentiment. Instead, the network is becoming one of the main settlement layers for tokenized finance, institutional custody, exchange-traded products, and corporate ETH accumulation. The analyst pointed to BlackRock’s filing for two tokenized money-market funds on Ethereum, JPMorgan’s MONY fund going live on Ethereum, and BlackRock’s BUIDL fund reportedly reaching $2.85 billion as the largest real-world asset product on-chain. These are three reasons why Ethereum is becoming a preferred settlement layer for institutional financial products. Another reason for the analyst’s price prediction is the partnership between Uniswap and Securitize to unlock BUIDL on-chain. This partnership connects tokenized Wall Street assets with Ethereum’s DeFi liquidity, and this creates a direct link between traditional finance and DeFi, which has always been one of Ethereum’s strongest areas. Ethereum Price Chart. Source: @CryptoPatel On X ETFs, Custody, And ETH Accumulation Add To The Bullish Outlook The second part of the bullish case comes from broader institutional access to ETH. Crypto Patel cited Robinhood building its Layer 2 on Ethereum, BNY Mellon launching Ethereum custody in the UAE, more than $12 billion flowing into Spot ETH ETFs this year, and BitMine’s accumulation of more than 5 million ETH, which is over 4% of Ethereum’s supply, as factors that support the Ethereum price heading to $15,000 this cycle. Other factors are the DTCC tokenizing Russell 1000 assets on the blockchain, with Ethereum being considered a leading contender to host these assets, and WisdomTree’s fully staked ETH ETP going live in Europe. Together, these factors strengthen Ethereum’s demand and supply setup. ETFs make ETH easier for institutions to buy, custody services make it easier to hold, corporate accumulation reduces available supply, and staked ETPs give investors a regulated way to gain ETH exposure with yield. Related Reading: XRP Market Now Controlled By Whales? Dominance Reaches 91% On Binance Keeping these factors in view, a favorable continuation of this institutional trend could give Ethereum enough momentum to break above $10,000 and possibly climb as high as $15,000 this cycle. Those targets would represent gains of about 335% and 550%, respectively, from the current price of Ethereum. Featured image from Pexels, chart from TradingView
Trump Media’s $405.9 million net loss was driven mostly by unrealized losses on Bitcoin bought at last summer’s peak and Cronos tokens acquired through a Crypto.com deal.
The incident exacerbates regional instability, potentially disrupting global oil supply chains and escalating geopolitical tensions further.
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Labour's internal strife may weaken party unity, affecting its electoral prospects and leadership stability amid unclear succession plans.
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A blockade of the Strait of Hormuz could severely disrupt global oil supply, impacting major economies and escalating geopolitical tensions.
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Ondo Finance said Ripple has redeemed OUSG on XRP Ledger and received a USD payout in Singapore through Mastercard and Kinexys by J.P. Morgan. The May 6 pilot tested whether a tokenized fund redemption on a public blockchain could trigger a bank-account payout across borders and banks, using a transaction path that Ondo said operated […]
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Heightened tensions in the Strait of Hormuz could destabilize regional security and impact global oil markets, increasing geopolitical risks.
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Popular market pundit Michaël van de Poppe has stated that Bitcoin has already recorded its cycle bottom. The premier cryptocurrency is currently in a sustained uptrend that began in early April. During this time, Bitcoin’s price has surged from around $67,500 to a recent peak of around $80,000, culminating in an approximate net gain of 20%. Related Reading: Bitcoin Drops To 2 Cents! Revolut Users Report Massive BTC Price Glitch 50-Week MA Indicator Represents Pivotal Encounter For Bitcoin Bulls In line with his bullish outlook, van de Poppe has highlighted two crucial price barriers that lie ahead in this postulated market recovery, supported by a historical pattern that transcends market cycles. Using data from 2017 to 2024, the seasoned analyst explains that the first rally in any bull cycle often encounters pivotal resistance at the last significant support level and/or the 50-Week Moving Average (MA). Going by this historical data, the immediate resistance level for Bitcoin lies between $86,000 and $88,000, a price zone that had served as the major support region from November to January, prior to the heavy market sell-off that closed out January. However, the more significant resistance level sits higher. As the name implies, the 50-Week Moving Average (MA) is a long-term technical indicator that tracks the average closing price of an asset over the past 50 weeks to identify the broader market trend. It is often used to spot major resistance or support levels and to confirm bullish and bearish market momentum. Van de Poppe’s Bitcoin analysis reveals that the 50-Week MA has consistently acted as a major flip zone during Bitcoin bull markets once it is below the 200-week moving average, which serves as a critical long-term support level. As seen in the previous cycle, this crossover turns the 50-week MA into a strong support level, paving the way for an extended price rally. Related Reading: Analyst Predicts Biggest Bitcoin Bull Trap Of The Cycle, Calls Out 50% Crash To $42,000 Altcoin Rally, Market Retrace – Bull Run Bears Multi-Phases According to van de Poppe, there is a strong possibility that Bitcoin consolidates around the highlighted resistance zones for a few weeks. During this time, the analyst predicts that altcoins could attract capital inflows and register a significant rally, presenting an early opportunity to recoup losses from the bear market or compound gains for new market entrants. However, van de Poppe also warns that Bitcoin could retest the $70,000-$75,000 range before resuming its bull rally. At press time, Bitcoin trades at $80,900, up 1.02% over the past day. Meanwhile, daily trading volume is down 44.29% to $19.29 billion. Featured image from Flickr, chart from Tradingview
Recent attention around Houdini Swap has pushed the conversation around privacy protocols back into focus across the cryptocurrency market. The discussion gained momentum after the acquisition announcement of the privacy-focused cross-chain swap aggregator. This was followed by a debate around Houdini’s reliability, transparency, token-holder alignment, operational trust, and the broader direction of privacy infrastructure, including …