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CoinShares has released its weekly cryptocurrency report and said that there was an inflow of $2.2 billion last week.
Here’s why a Cardano/Ripple partnership might be incoming.
Quick Take BlackRock’s IBIT, the largest Bitcoin ETF with nearly $45 billion AUM, was the first to be approved for options trading. Firms have been looking to list and trade options for their spot Bitcoin funds following the SEC’s approval of 11 BTC ETFs in January.
XRP has formed a bullish “Double Coffee Cup” pattern, signaling significant upward potential. The breakout from a multi-year triangle aligns with improving regulatory clarity and market optimism. Indicators suggest bullish momentum, but overbought conditions point to possible short-term pullbacks.
Peanut the Squirrel (PNUT) shows a 258.9% monthly surge, highlighting strong market interest. Goatseus Maximus (GOAT) struggles with weekly declines but posts a 17.5% monthly gain. Moo Deng (MOODENG) sees a 50.5% monthly rise, signaling growing investor confidence.
Bitcoin faces intense volatility risks as it approaches critical $90K and $93K levels. Leverage clusters in Bitcoin liquidation zones could trigger rapid price fluctuations. Rising cumulative leverage highlights vulnerability for both bullish and bearish Bitcoin traders.
PEPE’s price has risen 1687.70% since November 2023, making it the third-largest memecoin. PNUT has printed a massive 2972.25% in gains in the past 30 days. PONKE witnessed ATH at $0.8409 earlier today.
- 10:43Stablecoin Market Cap Grows 0.45% Over the Past 7 Days, Surpassing $243.8 BillionAccording to a report by Jinse Finance, based on DefiLlama data, the current total market value of stablecoins across the network is $243.838 billion, having increased by 0.45% over the past 7 days, with USDT holding a market share of 62.26%.
- 09:38Analysis: Movement Labs and Mantra Incident Sparks Reflection on Market-Making Mechanisms in the Crypto MarketAccording to a report by Jinse Finance, the incidents involving Movement Labs and Mantra have drawn widespread attention in the crypto market regarding market-making mechanisms. Some executives of Movement Labs have been accused of colluding with their market makers to sell $38 million worth of MOVE tokens on the open market. Meanwhile, Mantra's OM token plummeted over 90% within hours at the end of April without any apparent negative news, raising concerns about token unlocking arrangements and the transparency of over-the-counter transactions. Analysts believe these events have exposed the hidden contracts, non-public agreements, and the distorting impact of OTC transactions on token supply and price discovery mechanisms in the crypto market. Several market-making institutions are reassessing their token risk underwriting processes and demanding greater transparency from project teams. Hong Kong market maker Metalpha stated that it has adjusted its trading structure, emphasizing long-term strategic consistency and introducing mechanisms to prevent excessive selling and fake trading volumes. Industry insiders point out that informal trading in the OTC market is disrupting token supply dynamics, increasing the difficulty for market makers to maintain liquidity.
- 09:37CryptoQuant: Ethereum May Have Bottomed Out, Altcoin Season Could BeginPANews reported on May 17 that CryptoQuant tweeted that Ethereum might have bottomed out compared to Bitcoin. The ETH/BTC ratio has surged 38% from a five-year low. Demand is rising, selling pressure is decreasing, and ETFs are increasing their holdings. This could signal the start of altcoin season.