Today, the founder of Telegram, Pavel Durov, tweeted a post that sent the sleeping Toncoin price higher by almost 24% to $3.6, before coming down to $3.34. He confirmed that his company has made an agreement with X, which will allow its telegram users in-app access to Grok. Per the terms, TON’s Telegram will receive …
Hyperliquid (HYPE) saw a 326% rally from early April lows to a peak of $39.93 on May 26. While the macro trend remains bullish, short-term indicators suggest fading momentum. Price action is now centered around the $30–$35 zone — a key support battleground for bulls. Key Highlights HYPE gained 326% since April, reaching an ATH …
Ethereum has yet to see a material increase in activity despite recent successive upgrades, according to JPMorgan analysts.
The U.S. economy contracted at an annual rate of 0.2% in the first quarter, according to the Bureau of Economic Analysis’ second estimate released Thursday. Bitcoin fell slightly by 0.4% after the data was released, but remains strong above $108,000. Inflation-adjusted final sales fell 2.9% as households trimmed spending to 1.2% growth. Goods purchases slipped […]
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Bybit has obtained a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA), allowing the exchange to expand into the European market.The approval allows Bybit EU, registered under commercial number 636180i, to operate as a regulated crypto asset service provider (CASP) and extend its services across all 29 European Economic Area member states.As part of its expansion, Bybit has officially established its European headquarters in Vienna, Austria, according to a May 29 news release shared with Cointelegraph.The move enables the platform to serve nearly 500 million Europeans under MiCA’s harmonized framework, which is designed to promote regulatory consistency, prevent illicit activity and protect consumers.“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit,” said Ben Zhou, co-founder and CEO of Bybit. “We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the highest levels of regulatory and compliance assurance.”Bybit listing on the FMA website. Source: FMARelated: Crypto swapper eXch shows signs of life after post-Bybit shutdownBybit to hire over 100 in ViennaBybit will also hire over 100 staff in Vienna to support its European operations and offer localized crypto services tailored to EU regulations. “Vienna is now the home of Bybit Europe,” said Mazurka Zeng, CEO of Bybit Europe:“We’re proud to contribute to Austria’s forward-looking financial environment by investing in talent and innovation.”The firm also plans to work closely with universities across the region through its Blockchain for Good Alliance (BGA) initiative to promote blockchain technology.The MiCA framework became enforceable in early 2025, prompting crypto companies to establish regulated bases within the bloc to legally expand their services across borders.Related: Bybit recovers liquidity levels 30 days after hack — KaikoBybit becomes second-largest exchangeFounded in 2018 and now based in Dubai, Bybit ranks as the second-largest crypto exchange by trading volume, according to CoinMarketCap. The company relocated its global headquarters from Singapore to Dubai in 2022.The regulatory win comes after Bybit suffered a massive breach in February 2025. The attack led to the loss of $1.5 billion in assets, making it the largest crypto theft on record.On May 9, German law enforcement seized 34 million euros ($38 million) in cryptocurrency from eXch, a cryptocurrency platform allegedly used to launder funds stolen during the Bybit hack.Magazine: Move to Portugal to become a crypto digital nomad — Everybody else is
Tether, Softbank and Cantor Fitzgerald-backed Twenty One Capital has raised an additional $100 million by selling convertible notes.
Russia’s central bank has announced plans to allow financial institutions to offer crypto-linked investment products to qualified investors, according to a May 28 statement. The Bank of Russia explained that it will allow instruments such as derivatives, tokenized securities, and other digital financial products that reflect crypto price movements. However, these offerings must be non-deliverable, […]
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Key takeaways: SOL/ETH has broken below a rising wedge pattern, signaling a potential 40% decline.Solana’s memecoin revenue has collapsed since April, weakening its core value proposition.Standard Chartered warns Solana may underperform as Ethereum’s L2 ecosystem grows more competitive.Solana’s (SOL) multiyear outperformance against Ethereum’s native token, Ether (ETH), is losing momentum, with technical breakdowns and weakening onchain activity pointing to a potential sharp decline in the SOL/ETH pair next.SOL enters rising wedge breakdown stageAs of May 29, the SOL/ETH pair has confirmed a breakdown from its multimonth rising wedge pattern, a bearish structure that often precedes significant declines.In technical terms, a rising wedge breakdown typically results in a drop equal to the pattern’s maximum height. SOL/ETH weekly price chart. Source: TradingViewFor SOL/ETH, this projects a downside target for July, near 0.038 ETH, representing a 40% decline from current levels.The 50-week exponential moving average (50-week EMA; the red wave) around 0.0628 ETH is offering interim support. A decisive weekly close below this level would likely confirm the bearish continuation toward the 0.038 ETH target.A bounce, on the other hand, could have SOL reclaim the wedge’s lower trendline as support, which may delay the breakdown scenario. Breaking above the wedge’s upper trendline will likely invalidate the 40% crash setup altogether.Cooling memecoin frenzy hints at SOL/ETH crashThe breakdown in SOL/ETH aligns with a visible decline in memecoin-driven activity on Solana. A key indicator is Pump.fun, the largest memecoin launch platform on the network, which shows a sharp drop in daily fee revenue since early April. Daily fees peaked in Q1 2025 but have since fallen to near-yearly lows, signaling reduced speculative activity on the chain, according to Dune Analytics.Pump.Fun fee and revenue chart. Source: Dune AnalyticsThe platform had been a major contributor to Solana's revenue growth, especially between December 2024 and March 2025. During this period, total cumulative fees surged past 3 million SOL as retail traders flooded the network to launch and trade meme tokens. These metrics have crashed ever since, weakening one of Solana's primary value drivers.A May 27 report from Standard Chartered further reinforces the downside narrative. The bank warned that Solana may underperform if it cannot diversify beyond memecoins, which currently dominate its transaction activity. Solana's decentralized exchange volume. Source: Standard CharteredStandard Chartered said that Ethereum is gaining ground with scalable layer-2 solutions that offer comparable fees and deeper infrastructure for real-world applications. Related: Ethereum flashes ‘altseason’ signal as ETH price eyes $4.1KChartist Alex Clay asserts that a so-called “Ethereum outperformance season” has already arrived, reiterating confidence in the rising wedge breakdown on the SOL/ETH charts.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Cardano (ADA) is facing one of its most intense storms yet. With serious allegations, a public clash with a major DeFi player, and a shaken community, founder Charles Hoskinson has stepped in to defend both his name and the platform’s future. At the center of it all is what Hoskinson calls a coordinated “slander cabal”. …
In a recent episode of the SlateCast, CryptoSlate CEO Nate Whitehill and Editor-in-Chief Liam “Akiba” Wright sat down with Indra Winarta, Head of Ecosystem at Pundi AI. Known for pioneering real-world crypto payments since 2017, Indra now leads Pundi’s evolution into the artificial intelligence frontier. From Payments to Data: A Dual-Track Vision Indra clarified early […]
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Treasury sanctioned a company accused of enabling multiple "pig butchering" scams, which defrauded U.S. victims of more than $200 million.
The SOL/ETH ratio signals an end of a prolonged uptrend and ether outperformance ahead.
The Reserve Bank of India (RBI) is set to broaden the reach of its digital rupee pilots by introducing new use cases and features for both its retail (e₹-Retail) and wholesale (e₹-Wholesale) central bank digital currencies (CBDCs), according to the central bank’s Annual Report for 2024–25.The central bank said it aims to explore programmability and offline capabilities for the digital rupee — features that could increase its applicability in areas with limited internet access and tailor payments for specific use cases such as government subsidies or corporate spending controls.Currently, both versions of the CBDC are undergoing pilot testing. The e₹-Retail pilot is being conducted with select customers and merchants through participating banks, while the e₹-Wholesale pilot is targeting use in the interbank market.Per the report, the e₹-Retail pilot has reached 600,000 users across 17 banks. To further scale adoption, the RBI has allowed “certain non-banks [...] to offer CBDC wallets.”The e₹-Wholesale pilot has also seen increased institutional interest. “The scope of e₹-Wholesale was further expanded and diversified with the addition of four standalone primary dealers (SPDs),” the report confirmed.Related: Indian high court orders steps to block Proton MailIndia dominates real-time paymentsDuring the financial year 2024–2025, digital payments in India experienced significant growth, both in terms of volume and value. According to the report, total digital payments recorded a growth of 34.8% in volume and 17.9% in value.Furthermore, India dominated global real-time payments during the year. The RBI noted that the Unified Payments Interface (UPI) “placed India in a leadership position with a share of 48.5 percent in global real-time payments by volume.”The central bank said several innovative features were introduced to extend the benefits of digital payments to wider segments of society.For instance, the report mentions that the “Delegated Payments” feature was rolled out, allowing “individuals (primary user) to allow another individual (secondary user) to make UPI transactions up to a limit from the primary user’s bank account.”An excerpt of the report. Source: RBIRelated: Indian town adopts Avalanche blockchain for tamper-proof land recordsIndia’s supreme court calls for crypto regulationOn May 20, India’s supreme court raised concerns over the government’s inaction in regulating cryptocurrencies like Bitcoin, despite already imposing a 30% tax on them.Justice Surya Kant criticized the existence of a “parallel economy” through digital assets, calling it a potential threat to the nation’s financial system.In India, users face a 30% tax on profits from crypto trading, which has been in effect since April 2022.Though crypto firms operating in the country endure increasing regulatory oversight, India is estimated to have more than 100 million digital asset holders out of its roughly 1.4 billion people.Magazine: Move to Portugal to become a crypto digital nomad — Everybody else is
Eric Trump believes owning even a small piece of Bitcoin could change someone’s future. Speaking at the Bitcoin 2025 Conference in Las Vegas on May 27, he said 0.1 BTC might become worth a fortune as demand keeps climbing. Bitcoin is now trading at $107,820, making it feel out of reach for many. But Trump insists people shouldn’t worry about owning a full coin. Related Reading: $8 XRP Sounds Huge—But This Analyst Isn’t Cheering Yet He and his brother, Donald Trump Jr., shared their thoughts during a panel discussion moderated by Aaron Arnold from the Altcoin Daily Show. They encouraged everyday investors to take that first step—even if it’s just buying a fraction. Bitcoin’s High Price Sparks Doubts A lot of people now wonder if they’ve already missed the boat. With one Bitcoin costing over $100K, even 0.1 BTC costs around $10,770. That’s still a big chunk of money. Some potential investors are backing off, thinking that small amounts aren’t worth much anymore. “0.1 Bitcoin is going to be worth an absolute fortune.” pic.twitter.com/o3vMTmZZyz — Altcoin Daily (@AltcoinDailyio) May 29, 2025 Arnold addressed this during the panel, saying many feel discouraged when they can’t buy a whole coin. But Donald Trump Jr. said that’s the wrong way to look at it. “People thought Bitcoin was too expensive when it hit $1,000,” he said. Then it was the same at $10,000 and again at $50,000. To him, it’s more important to just start somewhere and learn as you go. Small Investments Lead To Bigger Interest Trump Jr. explained that owning even a little piece of Bitcoin makes people more likely to pay attention to the market. That curiosity, he said, often leads to more learning and deeper involvement. Eric Trump added that everywhere they go—from the Middle East to Europe and Asia—they see strong interest in Bitcoin. He mentioned that both big corporations and wealthy families are trying to get in. According to him, even sovereign wealth funds and private offices are getting serious about Bitcoin. Related Reading: $10 Million Fix? SUI Network Moves Fast After Cetus Exploit Scare Scarcity Is Becoming A Bigger Issue Eric also pointed out that it’s becoming harder to find Bitcoin on exchanges. He said he spoke with Simon Gerovich of Metaplanet, who told him over-the-counter desks are running low on Bitcoin, even as demand keeps rising. This shortage could drive prices even higher. Eric believes this is another reason why 0.1 BTC could hold serious value down the road. “People want Bitcoin,” he said, “and they don’t want to sell it.” Featured image from Newsweek, chart from TradingView
Bitcoin is approaching the end of May with an unusually quiet tape: its 30-day price volatility just recorded its lowest level since November 2024, even as spot price trades just under its record high of $111,000. This rare combination of market calm and record valuations has created a setup that has historically preceded major price […]
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The partnership centers around FinChain, a virtual asset business launched by Fosun Wealth Holdings.
Solana continues to gain ground in the blockchain and financial ecosystem, thanks to high-impact developments. Firstly, SOL Strategies’ ambitious $1 billion prospectus and $500 million At-the-Will (ATW) facility provide significant institutional backing, with the potential inclusion of tokenized shares further working on the line between traditional finance and crypto. Secondly, MetaMask’s expanded support for Solana …
Blockchain intelligence platform Bubblemaps has launched the public version of its v2 product, offering new tools to help users detect insider activity and prevent memecoin-related scams.Announced on May 29, Bubblemaps v2 follows a private beta testing period that attracted over 200,000 users. New features include “Magic Nodes,” which uncover hidden wallet connections among tokenholders, and “Time Travel,” a tool that reconstructs the historical distribution of tokens, potentially detecting early insider activity or coordinated accumulation efforts.“Historical data in crypto is notoriously hard to access because it gets buried under endless new transactions,” Bubblemaps CEO Nicolas Vaiman told Cointelegraph.“Time Travel changes that. It’s like watching a Big Bang, from the initial burst of a single bubble to a full-grown distribution,” he said.Source: BubblemapsThe tool allows users to rewind the token’s entire life cycle and evolving distribution structure, which will help them spot “early signs of manipulation or coordinated dumps,” Vaiman added.Related: Sui validators vote on $162M Cetus recovery plan to restore user fundsSpotting tokens with a large portion of the supply concentrated across a few wallets can help investors detect scams such as rug pulls, where insiders remove liquidity or stage a mass sell-off, resulting in a steep price collapse that leaves investors with worthless tokens.A large-scale rug pull hit the crypto industry on March 16 after the sudden collapse of the Wolf of Wall Street-inspired WOLF token, created by Hayden Davis, the co-creator of the Official Melania Meme (MELANIA) and the Libra token.Source: BubblemapsThe memecoin saw a 99% crash, wiping out most of its peak $42 million market capitalization within a few hours. Over 82% of the token’s supply was held by a single entity, a major red flag for any cryptocurrency.Bubblemaps played a key role in uncovering suspicious wallet activity related to multiple memecoins, including the Melania token and an array of fake Eric Trump-themed memecoins.Related: Coinbase faces $400M bill after insider phishing attackUshering in the “InfoFi” era for Web3 usersBubblemaps said its tools help structured blockchain data become the foundation of “crypto’s next financial layer,” forming part of the growing information finance (InfoFi) era, bringing more powerful forensic tools to investors.“Solana proved that real-time transparency is no longer optional, it’s expected,” Vaiman said, adding:“This fits right into the InfoFi movement, giving users the tools to turn raw onchain data into clear, actionable information.”The platform is integrated with some of the most widely used protocols on Solana, including the memecoin launch platform Pump.fun, DEX Screener, Photon and Bullx, aiming to serve as the core analytics later for the Solana blockchain.Bubblemaps v2 is also available on Ethereum, BNB Chain, Base, Tron and ApeChain.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame
Solana-focused investment firm Sol Strategies filed a preliminary base shelf prospectus for up to $1 billion, as DeFi Development Corp. revealed it will adopt liquid-staked SOL for its treasury operations.According to a May 27 Sol Strategies announcement, the publicly traded Canadian Solana investment and infrastructure company “will be permitted to make offerings of common shares” of up to $1 billion, but does not indicate an immediate offering. CEO Leah Wald said the move supports the company’s long-term growth plans.“The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem,” she said.Source: Sol StrategiesIn a May 28 announcement, Solana treasury firm DeFi Dev announced its adoption of Solana liquid staking tokens. The firm will now divert part of its Solana holdings to the liquid staking token dfdvSOL.The announcement followed DeFi Dev’s addition of 88,164 SOL to its treasury in late April, valued at $11.5 million at the time, when it held $34.4 million worth of Solana (SOL).Related: Solana chart hints at 180% rally to $300 if key technical trend holdsWhat is liquid staking?Liquid staking allows tokenholders to earn staking rewards without locking up their assets. Instead, they receive a liquid token that can be traded or used in decentralized finance (DeFi) applications. DeFi Dev expects the adoption of this technology to “enhance the company’s validator operations and treasury management, consistent with its mission to maximize SOL Per Share” growth. Chief investment officer and chief operating officer Parker White said:The adoption of dfdvSOL not only creates additional ways to drive stake to our validators and increase SOL holdings, but also advances our role as a long-term participant in the Solana ecosystem.”Related: Solana may be a memecoin ‘one-trick pony’ — Standard CharteredSol Strategies prepares to safeguard capitalSol Strategies also announced on May 28 that it had completed several key audits and certifications. The company passed SOC 2 Type 1 and SOC 1 Type 1 audits and received ISO 27001 certification for its Solana staking platform. SOC 2 Type 1 is a report assessing a company’s controls related to security, availability, processing integrity, confidentiality or privacy at a specific point in time. Such an audit verifies that the firm’s controls meet trust service criteria at the time of the check.SOC 1 Type 1 is a similar report focused on internal controls over financial reporting at a specific point in time. This audit evaluates whether the controls are appropriately designed, but does not assess their effectiveness over time.Lastly, ISO 27001 is an international standard specifying requirements for an information security management system. These standards help manage risks pertaining to data confidentiality, integrity and availability through a continuous improvement framework.To obtain this ISO certificate, a company must demonstrate both the documentation and implementation of controls. Sol Strategies’ Wald explained that all these measures are meant to ensure institutional trust:“By achieving SOC 2 Type 1 and SOC 1 Type 1, alongside our ISO 27001 certification, we’ve demonstrated that institutional clients can trust SOL Strategies with their Solana staking needs.”The compliance efforts come as the firm continues to position itself as a major Solana validator. In a previous announcement, Sol Strategies disclosed it had issued $500 million in convertible notes to buy and stake SOL.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
New York City has long been a tough nut for crypto businesses to crack. That expensive, complicated BitLicense has kept many firms at arm’s length – some even fled the state because of it. But now, Mayor Eric Adams is shaking things up in a big way. At Bitcoin 2025, he called for the full …
Shiba Inu (SHIB), the popular meme coin, is gearing up for a massive price breakout. Prominent crypto analyst Ali Martinez recently shared a chart showing SHIB forming a symmetrical triangle on the 4-hour timeframe. According to him, this pattern could lead to a 17% price swing in the coming days. But this isn’t just about …
The Bank of Russia has permitted financial institutions to offer certain cryptocurrency-based financial instruments to accredited investors.Russian banks are now free to provide qualified investors with a range of crypto products, including crypto derivatives, securities and other digital financial assets tied to crypto prices, the central bank announced on May 28.A key stipulation, however, is that these products must not involve the “actual delivery of cryptocurrencies,” the Bank of Russia emphasized.The announcement came alongside the Bank of Russia reporting a 51% increase in crypto asset inflows by Russian residents in the first quarter of 2025, totaling 7.3 trillion rubles ($81.5 billion).T-Bank among the first to offer Bitcoin investment productsSome major Russian banks started rolling out cryptocurrency investment products immediately following the Bank of Russia’s announcement.T-Bank (formerly Tinkoff Bank), one of the largest commercial banks in Russia, announced on May 29 the offering of digital financial assets (DFA) tied to Bitcoin (BTC).An excerpt from T-Bank’s announcement (translated by Google). Source: T-Bank“The tool allows you to invest in cryptocurrency in rubles through a familiar application — safely and within the legal framework of the Russian Federation, without opening an account on a crypto exchange and difficulties with protecting your wallet,” the bank said.T-Bank’s new “smart asset” offering is issued through the Russian state-backed tokenization platform Atomyze and is available exclusively to accredited investors.Direct crypto investments still not encouragedWhile greenlighting local lenders to offer crypto products, the Russian central bank still maintains a restrictive approach regarding direct cryptocurrency investment.“The Bank of Russia still does not recommend financial institutions and their clients to invest directly in cryptocurrencies,” the Bank of Russia said in a statement.Related: Russia arrests Blum co-founder Vladimir Smerkis on fraud chargesThe central bank also noted the ongoing government discussions on the potential launch of an experimental regime that would allow certain investors to trade crypto assets like Bitcoin directly.Russia’s estimated CEX holdings are at $9.2 billionIn its latest financial stability review, the Bank of Russia estimated Russians’ crypto holdings on centralized exchanges (CEXs) at 827 billion rubles ($9.2 billion).According to the authority, Bitcoin is leading Russians’ CEX holdings with a 62% share, with Ether (ETH) following at 22%. Stablecoins like Tether USDt (USDT) and Circle’s USDC (USDC) ranked third with a share of 15.9%.Some local crypto enthusiasts observed that the actual figure of cryptocurrency held by Russians is significantly bigger than the estimated CEX holdings reported by the Bank of Russia.“I know that [Pavel] Durov and [Alexey] Bilyuchenko alone have more money in their wallets than this amount,” Sergey Mendeleev, founder of the digital settlement exchange Exved, wrote on his Telegram channel. He hinted that Russians hold much bigger crypto amounts in wallets and decentralized exchanges.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Russian banks have started rolling out crypto investment products tied to the price of Bitcoin following a greenlight from the central bank.
Your day-ahead look for May 29, 2025
B2B stablecoin monthly volumes had grown to over $3.0 billion by early 2025, up from under $100 million at the start of 2023.
Bitcoin has been trading sideways after reaching record highs above $110,000 last week.
More than 90% of XRP’s supply is currently profitable, even though the token’s price has remained relatively flat for the past three months. Data from on-chain analytics firm Santiment reveals that most of XRP’s circulating supply was acquired at lower price points than its current market value. This level of profitability places XRP ahead of […]
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Blockchain analysis company Arham Intelligence claims to have uncovered previously undisclosed wallet addresses tied to Strategy (formerly MicroStrategy), potentially exposing billions in Bitcoin holdings. In a post referencing Strategy co-founder and executive chairman Michael Saylor’s commitment to privacy, Arkham claimed that it had identified an extra 70,816 BTC linked to the company. At current prices, the stash is valued at about $7.6 billion.Arkham said the newly identified wallets bring Strategy’s total holdings to $54.5 billion. If accurate, the findings suggest that Arkham has mapped out most of the company’s stash, making it the first entity to publicly associate the wallets with the firm. “Saylor said he would never reveal his addresses. So, we did,” Arkham wrote, adding that the amount represents 87.5% of the total Bitcoin holdings of Strategy. Cointelegraph reached out to both Arkham and Strategy for comment but did not receive a response by publication time. Source: Arkham IntelligenceStrategy chairman says publishing addresses “not a good idea” Arkam’s claims follow comments from Saylor about the risks of publishing wallet addresses. At the Bitcoin 2025 conference in Las Vegas, Saylor said that publishing wallet addresses is dangerous for companies holding Bitcoin. “No institutional grade or enterprise security analyst would think it’s a good idea to publish all of the wallet addresses such that you can be traced back and forth,” Saylor said. The executive said making wallets public allows every future transaction to be scrutinized, exposing a company to risks that may not be immediately apparent. To highlight his point, Saylor suggested using artificial intelligence to explore the issue. Saylor said if a user puts AI in deep think mode and asks about security problems associated with publishing wallet addresses, the executive said the response could get “50 pages” of security problems.Related: Metaplanet issues $21M in bonds to buy Bitcoin, a day after $50M raiseArkham previously accused of mislabelling walletsWhile blockchain data is publicly available, the accuracy of claims related to wallet ownership has been questioned before. At the height of the Mantra token collapse, Mantra CEO John Mullin denied accusations of insiders dumping their token. The executive accused Arkham of mislabeling the wallets they had identified as belonging to insiders. Magazine: Move to Portugal to become a crypto digital nomad — Everybody else is
In a video published on Wednesday, crypto analyst and trader Miles Deutscher devoted a lengthy segment to the long-anticipated distribution of FTX bankruptcy proceeds, arguing that tomorrow’s release of roughly $5 billion in stablecoins could become a pivotal liquidity shock for digital-asset markets. $5 Billion Liquidity Hits Crypto Tomorrow Deutscher reminded viewers that the cash component of the FTX estate—“around 5 billion in stablecoins,” as he put it—enters creditors’ accounts on May 30, the first wave of repayments since the exchange collapsed in 2022. “May 30th might be one of the most important days this cycle,” he said. “FTX is distributing over 5 billion in stablecoins to creditors this week. That’s around 2 percent of the total stable-coin supply.” Related Reading: Crypto Whales On Watch As Over $3 Billion In Tokens Unlock Next Month Because most victims “stayed in crypto despite the FTX blow-up,” Deutscher believes the bulk of the reimbursement will not be cashed out to traditional bank accounts but redeployed in-kind across the ecosystem. “When that $5 billion hits, it’s not sitting idle […] they’re going to rotate that liquidity back into the market,” he predicted, adding that the inflow “could be the catalyst that pushes Bitcoin to $120,000 and triggers the alt-season setup we’ve been waiting for.” The YouTuber framed the timing as unusually propitious. Bitcoin trades near its prior all-time highs, Ethereum is showing its first sustained out-performance versus Bitcoin this year, and US lawmakers appear closer than ever to passing a regulatory framework for stablecoins. In that context, he argued, even a conservative estimate—where only a few hundred million dollars of the FTX haul migrates directly into smaller tokens—would still represent “net new liquidity that has not been in the space because retail money has been completely dry.” Already Priced In? Deutscher pushed back on the idea that the event has already been priced in: “It doesn’t feel like buy-the-rumor, sell-the-news […] otherwise people would have been talking about it all week. It’s only today that people are realizing this is actually happening in a couple of days’ time.” He called the forthcoming transfers “sleeper liquidity,” stressing that social-media and trading-desk chatter remains muted compared with last year, when repayment schedules first surfaced. Related Reading: Crypto Watchlist: Top Analyst Reveals 5 Altcoins With Major Upside How the funds fragment once they land is, of course, unknowable. The analyst conceded that allocations will vary—some recipients will opt for Bitcoin or Ethereum, some may hold in stablecoins, others will chase speculative altcoins—but the overarching effect is expansionary. “What I do know is that this is net new liquidity hitting the market,” he said. “And what you’ve got to ask yourself is where that liquidity is going to go.” Market participants will not have to wait long for first-order evidence. Redemption instructions inside the BitGo portal are already live, and creditors have until 1 June to complete know-your-customer verification. By tomorrow, at least a portion of the stable-coin tranche should be visible on-chain, giving analysts real-time data with which to confirm—or challenge—Deutscher’s thesis. Whether the $5 billion surge proves a short-term jolt or the ignition point of a broader risk-on cycle, it will close one of crypto’s darkest chapters with an injection of fresh capital. As Deutscher summed up, “This could be a pretty good setup alongside the other catalysts that I’ve pointed out.” The market now waits to see whether the reclaimed funds will, indeed, become the tide that lifts all boats. At press time, BTC traded at $107,873. Featured image created with DALL.E, chart from TradingView.com
Ripple’s stablecoin, RLUSD, was recently listed on the top Defi platform, Euler Finance. Users can now borrow, lend, and use RLUSD as collateral. In just 24 hours of its launch, it has already surpassed $25 million in supply. ATH????The new $RLUSD vault on @eulerfinance has already surpassed $25 million in supply in less than 24 …