US crypto mining stocks tumbled at the close of May 28 trading after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook. The crypto market remained unscathed, despite the stock drops among crypto miners. Uncertainty about the economic outlook looms The minutes of the Federal Open Market Committee’s meeting on May 6 and 7, released on May 28, stated, “the Committee might face difficult tradeoffs if inflation proves to be more persistent while the […]
Key takeaways: Historical chart patterns and the Fibonacci Retracement metric hint at a Solana price rally to $300. Solana’s $7.5 billion in futures open interest and negative funding rates could be a sign that a powerful short squeeze is in the making. Solana (SOL) price tested the $180 resistance level on May 11, but it has since consolidated below this key threshold and appears unable to establish a sustained bullish position. However, the altcoin has maintained a positive signal by […]
Key point: Bitcoin’s market structure is still bullish, even as a phase of profit taking and consolidation sets in. Bitcoin (BTC) remains pinned below the breakout level of $109,588, indicating that the bears are fiercely defending the level. Bitfinex analysts said in a market note that profit-taking generally follows after Bitcoin hits a new all-time high after a sharp rally. The report added that a mild retracement or consolidation would be healthy and lay the foundation for the next leg […]
The Katana Foundation, a nonprofit focused on decentralized finance (DeFi) development, is launching its private mainnet, aiming to unlock greater crypto asset productivity via deeper liquidity and higher yields for users. The Katana Foundation launched a DeFi-optimized, private blockchain, Katana, on May 28, incubated by GSR Markets and Polygon Labs, with the public mainnet launch set for June. The new blockchain will enable users to earn higher yields and explore DeFi in a “unique, optimized yield environment” that unlocks latent […]
Sui (SUI) is making a strong technical case for a 100% price rally in the coming weeks, helped further by a slew of optimistic updates, such as the recent Nasdaq ETF filing with the US Securities and Exchange Commission (SEC). Gooner EMA support raises 40% SUI bounce potential As of May 28, SUI has reclaimed the “Gooner EMA” as support on the weekly chart. SUI/USDT weekly price chart. Source: NebraskanGooner/TradingView Gooner EMA is a technical indicator created by trader NebraskanGooner […]
Nasdaq has filed for crypto asset manager 21Shares to list a spot Sui exchange-traded fund (ETF) in the US, initiating the Securities and Exchange Commission’s review process. The stock market’s May 23 19b-4 filing, which asks the SEC to list the 21Shares SUI ETF, follows 21Shares’ April 30 submission of its S-1 registration statement to the SEC, which asked the regulator to approve trading of the proposed fund. Both regulatory filings are needed for the Sui (SUI) tracking fund to […]
Key takeaways: SharpLink Gaming establishes the first ETH treasury, backed by Ethereum co-founder Joe Lubin. SharpLink will invest $425 million to acquire 120,000 ETH. Ethereum futures open interest hits an all-time high of $36.1 billion, with ETH price climbing 4.5% on the daily chart. Nasdaq-listed SharpLink Gaming (SBET) announced a $425 million private investment in public equity (PIPE), acquiring approximately 69.1 million shares at $6.15 each to establish the first Nasdaq-listed Ethereum treasury company. Spearheaded by Ethereum co-founder Joe Lubin, […]
Key points: XRP derivatives markets turn bearish amid reducing institutional demand, suggesting further downside for XRP price. XRP’s descending triangle breakout could lead to a decline toward $1.96. XRP (XRP) has rebounded by more than 45% since April 7 lows to trade at $2.31 on May 27. But the price remains 31% below its January 2025 peak of $3.40, raising concerns about XRP’s ability to rise higher. Will XRP’s price drop from the current levels in the coming days? XRP […]
Cryptocurrency mixers explained A cryptocurrency mixer is a specialized service designed to increase the privacy and anonymity of blockchain transactions. Unlike traditional financial transactions, which are private by default, most cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) operate on public blockchains. This means every transaction is permanently recorded and accessible to anyone, making it possible for blockchain analysts or malicious actors to trace the flow of funds between wallets. A crypto mixer’s primary function is to break the link between […]
Layer-1 blockchain Solana may be evolving into a “one-trick pony” for memecoin generation and trading, according to a recent Standard Chartered report. According to a May 27 Standard Chartered research report shared with Cointelegraph, Solana “dominates in areas that demand high-volume, low-transaction-cost solutions” due to its design prioritizing fast and cheap transaction confirmation. The report suggested that this has had an unintended consequence: “So far, this has been mostly in memecoin trading, which accounts for the majority of activity on […]