Crypto World
Bitcoin holds firm as US CPI hits 2023 high, Fed hike fears return
Bitcoin (BTC) traded with notable volatility as traders absorbed a key U.S. inflation print ahead of Tuesday’s market open. April’s consumer price index data reinforced the case for sticky inflation pressures, with energy costs acting as the primary driver behind the latest move higher in overall prices.
According to the U.S. Bureau of Labor Statistics, the CPI registered a 3.8% year-over-year rise in April, the highest rate since 2023. The energy index alone rose 3.8% for the month, accounting for a large share of the monthly increase. On a yearly basis, energy prices were up nearly 18%, a circumstance many analysts tie to ongoing supply constraints and geopolitical tensions affecting the oil market. The release also noted declines in several other categories, including new vehicles, communications, and medical care.
Against this macro backdrop, BTC was hovering around $81,000 as risk assets faced renewed headwinds. Traders kept a close eye on technical levels that could shape the near-term trajectory, with the 21-day moving average around $78,800 acting as a near-term benchmark and the 200-day moving average flirting with the upper $80,000s as a key resistance area.
Industry commentary underscored a delicate balance between safe-haven demand and macro headwinds. The broader inflation narrative, coupled with rising energy costs, fed expectations that the Federal Reserve could maintain a restrictive stance longer than some anticipated — a stance that has historically weighed on liquidity in risk assets, including cryptocurrencies.
The latest data from CME Group’s FedWatch Tool showed market participants pricing in rates staying at today’s level through 2026 and into the following year, a scenario that tends to exert pressure on riskier assets during periods of anticipated higher-for-longer rates. In this environment, Bitcoin’s price action remains sensitive to shifts in liquidity and the path of monetary policy, even as some investors view crypto as a hedge or portfolio diversifier in times of macro stress.
Key takeaways
- April CPI rose 3.8% year over year, the highest since 2023, with energy contributing a substantial portion of the monthly increase.
- Energy prices climbed 3.8% in April, contributing to a near-18% year-over-year rise in energy costs and amplifying inflation pressures tied to the oil market and geopolitical dynamics.
- Bitcoin remained around $81,000 as traders weighed macro headwinds against technical support and resistance at key moving averages.
- The 21-day moving average sits near $78,800, seen as a short-term support level, while the 200-day moving average approaches the $82,600 region as a significant resistance hurdle.
- Fed probability tooling suggested rates could stay unchanged through 2026, reinforcing concerns about liquidity headwinds for risk assets, including BTC.
Bitcoin’s momentum under the spotlight: a technical inflection zone
From a technical standpoint, market participants highlighted a confluence of levels that could determine whether BTC sustains a bullish bias or retests support. The 21-day simple moving average (SMA) at roughly $78,800 is viewed by several traders as a short-term pivot point; a break below the nearby $76,000 zone could signal greater near-term vulnerability for bulls trying to defend a base near current levels. The below-peak narrative was echoed by prominent traders monitoring intraday and swing data, who warned that a breach of that critical support area could open the door to a more pronounced move lower.
“The $76K area is a crucial support zone that I fancy not to be breached; if that happens, we’ll be going substantially lower.”
On the upside, Bitcoin faces a substantial overhang near the 200-day moving average, which analyst commentary places around $82,600. Some trading desks have described the current setup as an ongoing attempt by bulls to establish a reliable support-and-resistance flip around the $80.7k region — a move that would bolster confidence for another push toward the longer-term trend line. A number of traders underscored the risk that, without sustained momentum, the price could struggle to break through the 200-day SMA and instead consolidate near the mid-$80,000s or lean toward the lower end of the range.
“The 200-Day SMA near $82,600 is a real test for bulls. Without a convincing breakout, we could see a more measured pullback before any renewed attempt,”
Analytical notes from Market-structure researchers highlighted a delicate balance between bullish posture and the risk of a renewed pullback. One observer summarized the scene by noting that while the market has attempted to establish a higher base around the $80,000s, the lack of a decisive close above the 200-day average could keep BTC tethered to a tighter range in the near term.
Macro backdrop and the reward-risk calculus for traders
The inflation data arrived amid a political and energy backdrop that continues to influence macro markets. The April CPI print showed an energy component that has proven resilient, a dynamic some analysts attribute to ongoing geopolitical frictions and supply constraints. The energy-driven inflation impulse has implications for both the macro outlook and crypto markets, where liquidity can contract when policymakers signal a higher-for-longer rate regime.
In terms of policy expectations, markets have largely priced in a steady rate path through the near term. The FedWatch Tool’s current read suggests the Federal Reserve is not expected to cut rates in the near future and may hold policy steady through 2026, with the implied path stretching into the following year. The implication for crypto traders is twofold: liquidity tends to tighten when rate hikes are anticipated, and any shift in policy expectations can quickly alter risk appetite across digital asset markets.
Beyond monetary policy, the inflation story remains tethered to energy prices and geopolitical risks that influence oil supply. An elevated energy backdrop can sustain upward pressure on general prices, even as some components of the CPI cooled in April. The energy story, frequently cited by analysts, includes references to an oil-market supply squeeze that has historically fed into broad inflation metrics and, by extension, market sentiment around risk assets, including BTC.
On the crypto analytics side, traders still watch the interaction between macro signals and on-chain dynamics. While some market participants point to Bitcoin’s relative strength during periods of inflationary pressure, others warn that a sustained policy regime that keeps liquidity tight could cap upside momentum in the near term. The balance remains delicate: macro resilience can support demand for value storage narratives, while liquidity constraints and higher-for-longer rates might restrain rapid upside moves until new catalysts emerge.
What to watch next in Bitcoin and the macro setup
Market observers will be watching whether Bitcoin can sustain a bid above the approaching 200-day average or whether bulls must reassert footing at lower levels. The interplay between inflation data, energy costs, and policy expectations will shape the path of least resistance for BTC in the coming weeks. As traders weigh risk versus reward in a liquidity-constrained environment, any shifts in the Fed outlook or energy markets could reintroduce sharper moves for Bitcoin and other risk assets.
For readers keeping score, the next set of inflation readings, policy guidance from central banks, and energy-market developments will be critical to interpreting BTC’s short- and medium-term trajectory. In particular, investors will want to monitor whether the market’s pricing for rate paths remains anchored to a longer-dated, steady policy stance or if a renewed shift in expectations creates the conditions for a more decisive move in BTC’s price.
Next up, the market will continue to parse the evolving inflation narrative, the implications of the Fed’s policy stance, and how energy costs influence consumer prices. If energy-driven inflation cools or policy remains restrictive while liquidity conditions loosen, BTC could demonstrate greater resilience. Conversely, a renewed bout of rate hikes or a sharper squeeze in liquidity could test support near the current range and drive attention back toward the traditional gauges of momentum in the crypto space.
References to the evolving data points and opinions, such as the commentary from The Kobeissi Letter and the technical observations from Michaël van de Poppe, illustrate the spectrum of risk signals traders weigh as they navigate the crossroads of macro policy, energy markets, and crypto pricing.
As one of the more scrutinized cross-currents in markets today, Bitcoin’s trajectory remains tethered to the broader macro regime. Investors should stay alert to any shifts in rate expectations, energy-market dynamics, or geopolitical developments that could tilt the balance of risk appetite in favor of or against crypto assets in the near term.
In case you want to trace the data points mentioned above, the official CPI release is available from the U.S. Bureau of Labor Statistics at the official news release, and market-implied rate paths can be reviewed via the FedWatch Tool. For price action context, traders referenced the BTCUSD chart on TradingView, while notable technical commentary cited the Michaël van de Poppe and the Material Indicators notes. The inflation-linked context also references energy-market reporting tied to the oil-supply environment described in oil-supply dynamics.
Over the past week, Cardano’s ADA has surged 6%, making it one of the best-performing top-15 cryptocurrencies.
Numerous analysts have recently spotted that the asset has been following a similar pattern witnessed during previous bull cycles, suggesting this could be just the beginning of a major rally.
‘Printing by the Plan’
Earlier this month, ADA came close to reclaiming the $0.30 mark, reaching its highest level since mid-March. It currently trades around $0.27, while its market capitalization remains above $10 billion.
The asset is often among the most talked-about cryptocurrencies and becomes the subject of price predictions. One popular analyst who recently touched upon the matter is JAVON MARKS. The X user claimed that ADA continues to maintain a similar structure to that observed in 2021 and shows “signs of strength.” They set a target of $2.91, meaning that the price could be gearing up for a whopping 10x pump.
Prior to that, Sssebi opined that ADA had been consolidating over the past few months, as it did towards the end of 2024, which was later followed by a price increase above $1.30. That said, the analyst believes a surge above $1 is still in play this year.
For their part, Vuori Trading argued that ADA is still “printing by the plan” and sits in a “strong buy level.” The analyst envisioned a staggering jump to as high as $14, occurring sometime between Q3 2027 and Q1 2028.
Ali Martinez has also given his two cents lately. He emphasized the importance of the $0.25 support zone, noting that it has repeatedly acted as a major inflection point for the token.
For instance, in January 2023, ADA bounced off $0.25, resulting in an 88.27% jump over the following weeks. In September that year, this level again served as firm support, sparking a 243% surge.
More Bullish Signals
ADA’s Relative Strength Index (RSI) also supports the bullish case for further price increases. The ratio of the technical analysis tool has plunged to 22, indicating the asset has entered oversold territory and could be gearing up for a move north.
The RSI measures the speed and magnitude of recent price changes and provides traders with vital information about potential price reversal points. It runs from 0 to 100, and conversely, anything above 70 is interpreted as a warning for an impending pullback.
The post Top Cardano (ADA) Price Predictions as of Late: 10x Explosion on the Way? appeared first on CryptoPotato.
A customer shops for produce at an H-E-B grocery store on May 11, 2026 in Austin, Texas.
Brandon Bell | Getty Images
Prices in April rose at their fastest pace since May 2023. Traders on prediction market platforms think the peak in inflation isn’t here yet.
While the headline annual inflation rate rose 3.8% last month, traders on Kalshi think it is near certain that price increases will rise above 4% in 2026, and give almost two-in-three odds that it goes above 4.5%.
Traders also see an almost 40% chance that inflation will cross 5% this year. That hasn’t happened since February 2023.
That’s significantly higher than Wall Street projections. Economists polled by FactSet forecast that inflation will peak at an average of 3.8% in the current quarter, and fall to 2.8% by the end of the year.
Households, though, are more in-line with the prediction market forecast. A University of Michigan survey released Friday found that consumers see inflation of 4.5% over the next year. On Polymarket, traders believe there is a 50% chance that U.S. inflation rises above 4.5% in 2026.
Headline inflation jumped last month as energy prices soared due to the U.S.-Iran war and the closure of the Strait of Hormuz. But core inflation, which measures the change in prices excluding food and energy, also rose 0.4% in April and 2.8% year-over-year.
Food, materials, shelter, lodging
“The first order effect from the conflict in the Middle East [has] been a shock to oil prices, which [has] translated very quickly to what consumers are paying at the pump, but the next frontier to watch is rising input prices for food and materials,” said Skyler Weinand, chief investment officer at Regan Capital.
While the U.S.-Iran conflict drove energy prices higher, not all of the inflation story can be explained easily by the war. Notably, shelter prices rose 0.6% in April.
Traveling got more expensive too. Airfares jumped 2.8% in the month — as airlines passed through to consumers rising jet fuel prices — and lodging away from home rose 2.4%. Apparel was up 0.6%, albeit a smaller increase than in March.
But the energy shock is what’s driving headline inflation. So long as the strait, a passageway for 20% of the world’s crude oil before the war, remains closed, consumers are unlikely to see immediate relief. U.S. oil prices again crossed $100 a barrel on Tuesday.
Vessels in the Strait of Hormuz, Musandam, Oman, May 8, 2026.
Stringer | Reuters
In fact, a majority of Kalshi traders don’t think maritime traffic through the strait will return to normal until October.
The longer the strait is closed, the greater the risk to prices. Perhaps as a consequence, Kalshi traders now give a more than 50% chance that the Federal Reserve will raise interest rates by July 2027.
“In the first quarter of disruption, the oil supply shock is largely about higher prices,” wrote Seth Carpenter, chief global economist at Morgan Stanley, in a note on Monday. “A second quarter of disruption with continued price escalation would start to diminish the ‘transitory’ nature of the shock… and central banks would have to pivot from delays to policy stance changes.”
— CNBC’s Liz Napolitano contributed reporting
Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.
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CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2196.49, down 1.6% (-36.49) since 4 p.m. ET on Monday.
Three of 20 assets are trading higher.
Leaders: CRO (+1.9%) and BNB (+0.2%).
Laggards: SUI (-4.9%) and TAO (-4.4%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Solana, Cardano and Hyperliquid led the day’s losses as risk appetite cooled across digital assets.
Ronin L2 migration completed May 12, ending four years as a sidechain after a 10-hour network shutdown.
Summary
- Ronin executed its hard fork at block 55,577,490 on May 12, completing a transition to an OP Stack Ethereum Layer 2 with 10 hours of downtime.
- RON token inflation drops from over 20% to below 1% under a new Proof of Distribution model that rewards active builders over passive stakers.
- Partners including Optimism, Conduit, Boundless, and EigenLayer supported the migration, with EigenDA handling off-chain data availability.
The Ronin L2 hard fork executed at block 55,577,490 on May 12, transitioning the gaming blockchain from an independent EVM sidechain into a full Ethereum Layer 2 built on Optimism’s OP Stack. Sky Mavis co-founder Jihoz announced in the lead-up that the network would enter “hibernation” for approximately 10 hours while the upgrade completed, with no action required from users or players.
Ronin joins Base, Celo, and Fraxtal as purpose-built chains that have chosen to operate under Ethereum’s umbrella through the OP Stack. “Four years ago, we launched Ronin because Axie Infinity needed a faster and more efficient network,” the team said when first announcing the migration. “The time has come to plug back into the mothership.”
What changed in the hard fork
RON token inflation falls from over 20% annually to below 1% under the new Proof of Distribution model, which redirects 90 million RON tokens previously earmarked for passive staking toward the Ronin treasury. Marketplace fees also rise from 0.5% to 1.25%, with sequencer profits from the Layer 2 flowing into the treasury.
EigenDA handles off-chain data availability for the new chain while Ethereum provides settlement and finality. Partners including Optimism, Conduit, Boundless, and EigenLayer supported the migration, with Ronin now composable with Ethereum’s broader DeFi ecosystem.
Any node running older software was cut off once the new chain activated. Ronin confirmed that all games on the network, including Axie Infinity and Pixels, suspended on-chain activity during the downtime and resumed immediately upon completion.
Why the migration happened now
The move addresses the structural concerns that made Ronin vulnerable to the $625 million Lazarus Group bridge exploit in March 2022, the largest DeFi bridge hack in history. Operating as an independent sidechain with only nine validators created a centralised security model that Ethereum Layer 2 settlement directly resolves by inheriting the base chain’s security.
Governance also shifts to token-weighted voting under the new structure, giving RON holders direct input over treasury decisions, buybacks, and DeFi initiatives. Ronin also plans to deploy Uniswap v3 as its canonical DEX post-migration, backed by a $1.5 million liquidity incentive program to bootstrap DeFi activity on the upgraded network.
Key Highlights
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ETOR shares declined 4.81% following release of quarterly results showing revenue expansion.
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Commodities segment momentum compensated for declining cryptocurrency trading volumes.
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Strategic Zengo acquisition advances platform’s self-custody digital asset capabilities.
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Artificial intelligence features and Agent Portfolios enhance platform’s product suite.
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Platform reached 4.02 million funded accounts while assets under administration expanded.
Shares of eToro (ETOR) experienced downward pressure Tuesday despite the investment platform delivering solid first-quarter financial results and demonstrating product diversification. ETOR closed at $36.88, representing a 4.81% decline, after initially climbing above $41 earlier in the session. Market attention centered on cryptocurrency trading headwinds, artificial intelligence integrations, commodities segment performance, and the strategic Zengo transaction.
Shares Retreat Despite Impressive Quarterly Performance
eToro delivered improved first-quarter profitability as its diversified asset strategy benefited from commodities segment strength. Net contribution expanded 19% on an annual basis to $258 million, versus $217 million in the prior-year period. Management attributed the growth to accelerated commodities trading momentum.
Bottom-line performance strengthened significantly throughout the three-month period, with net income surging 37% year-over-year to $82 million. Adjusted net income posted a 28% increase to $86 million, while adjusted EBITDA jumped 35% to $109 million. Furthermore, adjusted diluted earnings per share came in at $0.91, representing growth from $0.77 in the comparable quarter.
Customer acquisition efforts yielded positive results during the reporting period. Funded accounts grew 12% annually to 4.02 million, driven by increased marketing investments. Assets under administration rose 15% to $17 billion, while the company maintained cash and short-term investments totaling $1.3 billion.
Digital Asset Trading Slows While Commodities Segment Accelerates
Cryptocurrency trading faced headwinds throughout the quarter, notwithstanding eToro’s ongoing digital currency platform development. Management disclosed that April cryptocurrency transactions decreased 32% year-over-year to 2 million. Average invested amounts per cryptocurrency trade fell 22% to $207.
Cryptoasset revenue contracted to $2.15 billion compared with $3.5 billion during the corresponding period last year. However, cryptocurrency-related expenses similarly declined sharply to $2.1 billion. The softer digital asset performance didn’t prevent eToro from delivering enhanced consolidated financial results.
The commodities division emerged as the platform’s primary growth engine. This segment generated approximately 60% of total trading commissions during the three-month period. Additionally, commodities volumes surged nearly fourfold annually following eToro’s introduction of round-the-clock trading for select instruments.
Artificial Intelligence Features, Strategic Acquisition and Platform Development Drive Forward Momentum
eToro maintained its product innovation pace across trading, investment, wealth advisory, and neo-banking services. The platform introduced continuous trading for specific commodities, equities and indices. Management also added Japanese equity access, providing users exposure to securities from 26 global exchanges.
Artificial intelligence capabilities received enhanced focus during the reporting period. eToro unveiled Agent Portfolios and expanded applications within the eToro App Store ecosystem. The platform incorporated xAI’s Grok 4.2 technology into Tori, its artificial intelligence-powered investment advisory tool.
The Zengo transaction continues playing a pivotal role in eToro’s cryptocurrency roadmap. The $70 million acquisition delivered self-custodial wallet capabilities to eToro’s expanding product ecosystem. Management intends to bridge conventional financial services with blockchain infrastructure, prediction markets, and cryptocurrency-native offerings.
The latest draft of the CLARITY Act gained support from major crypto stakeholders before the Senate committee markup this week. Cardano founder Charles Hoskinson praised the revised text after criticizing earlier proposals. Meanwhile, senators continued negotiations over ethics provisions that could influence bipartisan backing for the bill.
Cardano Founder Supports Updated Crypto Bill
The Senate Banking Committee released the updated CLARITY Act draft before the scheduled May 14 markup session. The revised text introduced changes targeting decentralized finance protections and stablecoin regulations. Consequently, several crypto industry participants responded positively to the amendments.
Hoskinson described the latest draft as a major improvement compared to previous versions of the legislation. He had criticized earlier drafts because of concerns surrounding protections for decentralized finance activities. However, the revised proposal addressed several areas that crypto firms had previously challenged.
The updated bill includes provisions supporting decentralized governance structures and non-custodial staking activities. In addition, the draft recognizes distributed validator participation within decentralized blockchain networks. The legislation also preserves stablecoin rewards, although firms cannot distribute rewards on idle balances.
Senate Negotiations Focus on Ethics Provision
Senators continued private discussions to resolve remaining concerns before Thursday’s committee markup session. The ethics provision remained one of the most contested sections within the broader crypto legislation package. Therefore, lawmakers sought compromises that could secure bipartisan committee support.
Crypto journalist Eleanor Terrett reported that Republican and Democratic senators held meetings regarding the unresolved ethics language. The discussions could influence support from Democratic members before the committee vote. Moreover, lawmakers aimed to avoid delays that could threaten the bill’s momentum.
Democratic Senator Kirsten Gillibrand previously stated that stronger ethics rules remained necessary for the legislation’s passage. Senator Ruben Gallego and other committee Democrats could also shape the outcome. Meanwhile, Senate Banking Committee Chair Tim Scott continued efforts to advance the revised legislation.
Coinbase and Banks React to Revised Draft
Coinbase reviewed the latest draft details as negotiations between crypto firms and banking groups continued. The exchange participated in discussions surrounding stablecoin yield provisions within the revised legislation. Consequently, the company welcomed several compromise measures included in the updated text.
Coinbase Chief Policy Officer Faryar Shirzad indicated that the revised proposal reflected extensive negotiations among the parties involved. The company also supported progress toward the committee markup process scheduled this week. Besides, several crypto firms viewed the updated framework as more favorable for decentralized finance operations.
Banking groups maintained objections despite the latest revisions to the stablecoin sections. American Bankers Association CEO Rob Nichols urged bank executives to contact senators regarding remaining concerns. He warned that the draft could still increase the risk of deposit flight for traditional banks.
The CLARITY Act represents one of the most significant federal crypto regulatory proposals currently under Senate review. Lawmakers have worked to balance crypto industry demands with banking sector concerns throughout negotiations. Consequently, Thursday’s markup session could determine the legislation’s next stage within the Senate process.
Crypto World
South Africa Manufacturing Show 2026 to Spotlight Industry 4.0, AI and Smart Factory Innovation
South Africa’s manufacturing sector is entering a new phase of digital transformation as industrial leaders accelerate investments in smart manufacturing, AI-driven operations, cybersecurity, and supply chain modernization. Against this backdrop, the 33rd Edition of the South Africa Manufacturing Show 2026 will bring together key stakeholders shaping the future of industrial innovation across the African continent.
Organized by Exito Media Concepts, the event will take place on June 11, 2026, at Focus Rooms – Universe, South Africa. The summit forms part of Exito’s international event series focused on technology, digital transformation, cybersecurity, manufacturing, and emerging enterprise sectors.
As manufacturers continue integrating Industry 4.0 technologies into production ecosystems, the event aims to provide a strategic platform for discussions around operational resilience, automation, AI adoption, robotics, IoT, cybersecurity, and sustainable industrial transformation.
The summit is expected to convene more than 150 C-level executives, directors, technology leaders, and policymakers from South Africa’s leading manufacturing organizations and institutions.
According to the organizers, the event agenda will focus on practical strategies and frameworks designed to help businesses improve efficiency, modernize operations, and accelerate digital adoption across the industrial sector.
Key discussion topics will include:
- Smart manufacturing and AI-powered industrial systems
- Connected supply chains and logistics optimization
- Cybersecurity resilience for smart factories
- Robotics and operational automation
- Digital transformation in mining and automotive sectors
- Sustainable manufacturing practices
- Data-driven operational intelligence
- Workforce development for Industry 4.0 environments
The event will also feature several prominent industry leaders and executives, including Joseph Ndaba of Mafikeng Digital Innovation Hub (MDIHub), Irshaad Kathrada of the Localisation Support Fund, Tapiwa Samanga of the Production Technologies Association of South Africa, and executives from companies including Sasol, Mahindra South Africa, Omnia Holdings, Reckitt, and Metair Investments.
A major highlight of the summit will be the “Manufacturing 100” recognition program, which celebrates influential leaders driving innovation, digital transformation, and operational excellence across South Africa’s manufacturing ecosystem.
The South Africa Manufacturing Show 2026 is also CPD Certified, allowing attendees to earn up to eight hours of CPD points while participating in the summit.
For more information about the event, visit South Africa Manufacturing Show 2026
Roaring Kitty’s deleted post on X triggered a crash in the meme coin RKC, wiping out 90% of its value within hours.
Traders who bought into the hype lost hundreds of thousands of dollars, while the coin’s developer reportedly cashed out over $600,000 before it collapsed.
RKC Dev Profited Over $600K from Token
Keith Gill’s verified X account, popularly known by his 1.6 million followers as Roaring Kitty, ended a 16-month silence on May 11 with a post that sent traders into a frenzy. At around 21:13 GMT, the account shared a Solana Pump.fun contract address for a newly launched meme coin called Red Kitten Crew (RKC), alongside a short cartoon clip.
Minutes later, the account shared a second post featuring an image captioned “red bandit crew 4 life,” which was later deleted. The sudden activity started a rush of speculative trading that briefly sent RKC soaring before the deletions triggered panic selling, causing the token to crash 90% and wiping millions from its market cap.
Blockchain analytics firm Lookonchain later reported that the meme coin’s developer had already cashed out 6,260 SOL, worth around $611,000, before the posts were removed. According to them, the individual used 20 SOL worth roughly $1,950 across 10 wallets to acquire 395.18 million RKC tokens, representing 39.52% of the total supply, before selling the entire stash for $495,000.
Lookonchain also revealed that the developer earned an additional 1,209 SOL, worth approximately $118,000, through creator fees.
Roaring Kitty Meme Coin Posts Cause Hack Speculation
On-chain analysts are saying that the incident followed a pattern they’ve seen many times in crypto, where influencers create hype, developers cash out, and retail traders are left with losses. Others also questioned the authenticity of the posts, noting Keith Gill has built his online presence around GameStop commentary and has never publicly promoted meme coins before, leading to speculation that the account may have been hacked.
There’s been a trend of high-profile X accounts being compromised to promote meme coins, with similar breaches in the past targeting major public figures and companies such as Michael Saylor and Kylian Mbappé. The former’s account was used to push a fake Bitcoin giveaway, while the latter’s promoted a Solana meme coin scam, with both incidents resulting in a spike in trading volumes before a collapse.
At the same time, Pump.fun has also been involved in controversy, with researchers claiming that a large percentage of tokens launched on the platform display characteristics commonly associated with scams or wash trading. The Solana-based meme coin maker has also been targeted by two class-action lawsuits in the past, with both accusing it of violating U.S. securities laws by facilitating the launch of unregistered tokens and allegedly collecting up to $500 million in related fees.
The post Roaring Kitty’s Deleted X Post Triggers 90% Crash in RKC Meme Coin appeared first on CryptoPotato.
Galaxy Digital and SharpLink have launched the Galaxy SharpLink Onchain Yield Fund with $125 million to deploy into DeFi protocols.
Summary
- SharpLink will commit $100 million from its staked ETH treasury to the fund, with Galaxy Digital contributing $25 million and managing investments.
- Capital will be deployed across DeFi liquidity protocols and onchain yield strategies while maintaining SharpLink’s core Ethereum exposure.
- SharpLink holds 872,984 ETH in treasury and has generated 18,800 ETH in staking rewards since launching its Ethereum strategy in June 2025.
Galaxy Digital and SharpLink announced a non-binding agreement on May 11 to launch the Galaxy Sharplink Onchain Yield Fund, a $125 million limited partnership structured to put part of SharpLink’s staked Ethereum treasury to work across DeFi strategies. Galaxy will serve as investment manager.
SharpLink will contribute $100 million from its staked ETH position, with Galaxy adding $25 million of its own capital. Mike Novogratz, founder and CEO of Galaxy, said the infrastructure for institutional DeFi participation “has matured to a point where allocators can access yield, liquidity, and risk management with the same rigor they expect in traditional markets.”
What the fund will do
The fund will deploy capital across DeFi liquidity protocols and other onchain yield-generating strategies. The structure is designed to keep SharpLink’s core ETH exposure intact while adding an active yield layer on top of its existing staking operations.
SharpLink CEO Joseph Chalom said the strategy aims to provide liquidity to high-quality protocols while generating returns above the average Ethereum staking rate. “Operational rigor is non-negotiable,” he said, noting the fund’s risk management framework will apply the same discipline Galaxy uses across its lending, trading, and asset management businesses.
The announcement came alongside SharpLink’s Q1 2026 earnings, which showed revenue rising to $12.1 million from $742,000 in the same period a year earlier. SharpLink posted a net loss of $685.6 million for the quarter, driven by unrealized depreciation in its ETH portfolio as Ethereum fell from roughly $3,354 in mid-January to $2,104 by quarter-end.
SharpLink’s position in the Ethereum ecosystem
SharpLink holds 872,984 ETH and is the second-largest publicly traded corporate Ethereum holder, behind Bitmine Immersion Technologies. Its treasury has generated 18,800 ETH in staking rewards since June 2025 with over 90% of its holdings staked at all times.
The Galaxy fund marks a meaningful shift in how public companies are thinking about crypto treasury management, moving beyond passive staking toward active DeFi deployment. Galaxy also launched a separate tokenized cash fund with State Street last week built on Solana, signalling a broader push by the firm into institutional onchain yield infrastructure.
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Tech7 days agoApple and Samsung are dominating smartphone sales so thoroughly that only one other company makes the top 10
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