Crypto World
Ethereum Price Eyes Mid-Week Bounce as Selling Pressure Craters 85%
Ethereum (ETH) price hovers near $2,330 mid-week with sellers fading sharply, leaving an 8-hour reversal structure one candle away from confirming a possible bounce.
The setup ties together a textbook bottoming pattern, an exhaustion signal on momentum, and an 85% drop in coins flowing onto exchanges. Whether ETH delivers the bounce depends on a single candle holding the line.
Ethereum Price Builds Reversal Structure as Momentum Quietly Diverges
The 8-hour chart shows ETH carving an inverse head-and-shoulders since mid-April. The pattern prints a low (left shoulder), a deeper low (head), and a higher low (right shoulder). The right shoulder formation is close to being confirmed now.
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Sitting under that price action is a developing hidden bullish divergence. ETH price has made a higher low between mid-April and early May, while RSI (relative strength index), a momentum gauge, is close to printing a lower low over the same window. Hidden bullish divergence often signals exhaustion of selling pressure, not the start of a fresh leg down.
The trigger is binary. If the next candle holds above the current right-shoulder floor ($2,309 to be exact), the divergence confirms and the pattern stays alive. If sellers force a break, both the structure and the divergence collapse together.
That setup, however, needs validation from on-chain flows before it earns the right to a projected 9% price target.
Sellers Retreat as Mid-Term Holders Build Their Stack
Glassnode data shows the exchange net position change, a metric that tracks tokens flowing in and out of exchanges, eased sharply this week. The reading peaked at 78,930 ETH on May 3, when fresh inflows pointed to selling pressure rising. By May 6, that figure had dropped to 11,504 ETH, an 85% reduction.
The collapse suggests whoever was offloading ETH around the right shoulder may be running out of supply.
A second on-chain layer reinforces the read. Glassnode’s HODL waves group supply by how long holders have kept their coins. The 6-month to 12-month cohort sat at 18.12% of supply on April 22. By May 6, that share had climbed to 21.49%.
The data suggests mid-term holders are adding to their position even as price stays compressed. This cohort often re-engages near cycle bottoms.
Both flows lean in the same direction as the chart pattern. The price chart now becomes the decider on whether buyers convert that backdrop into a measurable move this week.
Ethereum Price Levels That Decide the Mid-Week Move
With the pattern, divergence, and on-chain flows aligned, the focus shifts to the price ladder on the 8-hour chart. The current right-shoulder floor sits at $2,309, marked as the 0 Fibonacci anchor.
The first hurdle is $2,358. ETH then needs to reclaim $2,388 (0.382 Fib) and $2,412 (0.5 Fib). The 0.5 level briefly capped price on May 6 before sellers stepped in.
The neckline sits at $2,423, lining up between the 0.5 and the 0.618 Fibonacci at $2,436. A clean break above this band activates the pattern. The measured move projects roughly 9% upside from the neckline. That target lines up with the 1.618 Fibonacci extension at $2,642.
The downside ladder is just as defined. Failure to reclaim $2,358 followed by a loss of $2,309 would invalidate the right shoulder. Below that, $2,218, the head’s low, is where the entire pattern unwinds.
Hidden bullish divergence and falling exchange inflows both lean toward the bounce read, but neither replaces a confirmed close. Ethereum managing to stay above $2,309 separates a 9% Ethereum price bounce toward $2,642 from a slide to the $2,218 invalidation floor.
The post Ethereum Price Eyes Mid-Week Bounce as Selling Pressure Craters 85% appeared first on BeInCrypto.
XRP is consolidating in a large pennant and may soon challenge the $1.6 resistance.
Ripple (XRP) Price Predictions: Analysis
Key support levels: $1.4
Key resistance levels: $1.6, $2
Key Support Holds Steady
Despite the flat price action, XRP has maintained its price above the $1.4 support and has formed a large pennant. With the price approaching the apex of this formation, a breakout appears imminent.
Should buyers take over the initiative, then a quick rush towards the $1.6 resistance appears likely. Such a possibility would see XRP try for a third time to break this key level, having been rejected there in March and February by sellers.
Pressure is Building
With momentum favoring bulls, the only thing missing is volume. Since March, the trading volume on this cryptocurrency has been in a steady decline, which also explains the flat price action.
For XRP to break through the key resistance, the buy volume will need to spike twice. Once the price breaks out of its pennant, and second, when it hits the key resistance at $1.6. Any weakness at these two key moments would allow sellers to take back control.
Weekly MACD Remains Bullish
The weekly MACD remains bullish for a third consecutive week, as it can be seen on the histogram. Moreover, it is making higher highs, indicating that momentum is building up, despite the lack of volume.
Hopefully, in the weeks to come, the price will catch up with the weekly MACD and enter a sustained rally. That can challenge the current resistance and allow XRP to aim even higher, with $2 as a key psychological target.
The post Ripple (XRP) Price Predictions for This Week appeared first on CryptoPotato.
GameStop CEO Ryan Cohen said eBay suspended his personal seller account two days after his company launched a $56 billion takeover bid for the online marketplace. The ban was later reversed.
The move came after Cohen began auctioning personal items on his eBay page to dramatize the pursuit. He framed the stunt as a public message about the hostile nature of the takeover attempt.
Cohen Auctions Personal Items to Fund Hostile Bid
He listed used personal goods on his seller page. This included a pair of socks and what he described as carpet from a GameStop store. He linked followers to the auction in a post on X.
The display followed GameStop’s surprise offer of $125 per share for eBay, structured half in cash and half in GameStop stock. The price represented a roughly 20% premium to eBay’s prior closing level and a 46% premium to its February 4 close.
Cohen has argued the combined company could rival Amazon by leveraging GameStop’s roughly 1,600 stores as drop-off and authentication points.
eBay Cites Community Risk in Suspension
eBay’s suspension notice said Cohen’s account was “permanently suspended because of activity that we believe was putting the eBay community at risk,” according to a screenshot Cohen shared on X. The platform later reinstated his profile, which now displays a 100% positive feedback rating.
The dispute marks the most public flashpoint yet in GameStop’s campaign to force a deal. eBay’s board has so far declined to engage with the offer. Cohen has signaled his willingness to take the proposal directly to shareholders.
Financing Questions Mount as Stock Slides
GameStop shares dropped about 10% after the bid was disclosed, raising questions about Cohen’s financing strategy. The company has secured a $20 billion financing letter from TD Bank. But its market value sits near $11 billion against a $56 billion target price. GameStop already holds a 5% economic stake in eBay through derivatives and shares. This gives Cohen a foothold to press the case.
Investor Michael Burry, who took a long position in GameStop in January, sold his entire stake the day after the offer surfaced. The next test is whether eBay’s board responds before Cohen escalates the campaign further.
The post eBay Suspends GameStop CEO Ryan Cohen Mid $56 Billion Acquisition Battle appeared first on BeInCrypto.
In any other industry, the leader of a $60 million fraud would likely not be given a platform from which to lecture the public on dishonesty. In crypto, however, that type of experience commonly qualifies candidates for jobs as scam cops.
Pseudonymous trader 0xSisyphus, whose AnubisDAO ended in catastrophic failure, losing roughly 13,556 ETH, then worth about $60 million, has rebuilt a 153,000-follower platform on X as a blockchain cop.
Fortunately — for 0xSisyphus, at least — younger members of Crypto Twitter (CT) have never heard about Anubis.
Read more: The rise of the crypto influencer and the fall of truth
In October 2023, anonymous investigator NFT Ethics claimed that OpenSea’s ex-Head of Ventures, Kevin Pawlak, was behind the account.
In a thread on X, NFT Ethics alleged that Pawlak ran “various very dubious business dealings” including “pump & dump schemes” through that pseudonym, including trying to unload a stake in his failing AnubisDAO onto Sam Bankman-Fried’s Alameda Research.
At the time, the immensely popular NFT marketplace OpenSea said it was unaware of any such activities involving Pawlak and, anyway, described his role as non-managerial.
Maybe not theft, but negligence and lying
ZachXBT, the most prominent on-chain investigator in crypto, disagreed with parts of the NFT Ethics thread.
Although he blamed 0xSisyphus for “gross negligence” and “lying,” he stopped short of naming him as Pawlak, or claiming that he actually stole money from AnubisDAO.
Whether or not 0xSisyphus stole money, his reputation of mismanaging a deca-million dollar, dog-themed crypto failure precedes him.
Unfortunately, after almost five years, memories of that episode have faded from CT. Victims were never able to recover their funds from AnubisDAO, yet no one went to prison for theft.
Instead, 0xSisyphus has spent those years reinventing himself as a self-appointed referee of other people’s behavior. Benefiting from the engagement, he’s used his following to promote a variety of other digital assets.
The arc is the genre, not the exception
Sadly, the character arc of the unpunished rugger-turned-social media cop isn’t unique to 0xSisyphus. Many of the key opinion leaders on CT have dusted their prior grifts under the rug while continuing to earn engagement for calling out others’ misbehavior.
Worse, the scam-cop posture is itself the rehabilitation tool. A few days ago, 0xSisyphus was calling out a $19,000 rug-pull while victims of his Anubis project deal with permanent losses worth millions.
On CT, a market commentator who mismanaged a $60 million failure becomes the only person left to call out $19,000 rug-pulls.
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This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already.
Bitcoin has pulled back below $81,000 after narrowly missing a test of the closely watched 200-day simple moving average (SMA), currently located near $83,300, on Wednesday. The broader crypto market is also trading in the red, with the CoinDesk Smart Contract Platform Select Capped Index losing more than 2% over the past 24 hours, making it the worst performer among major sector indices.
The 200-day simple moving average (SMA) is widely regarded as a key barometer of long-term market strength. A sustained move above the level would reinforce the narrative that the bear market ended during the early February dip below $63,000 and that a new bull cycle is underway.
However, there is an important historical parallel worth considering. During previous bear market recoveries, BTC has tested, and at times briefly broken above, the 200-day average before resuming its broader downtrend. Most notably, in late March 2022, BTC climbed above $48,000 and tested the 200-day SMA, only to collapse toward $20,000 by the end of June.
For now, macro and market conditions continue to lean supportive. Sliding oil prices and record highs in gold, alongside steady ETF inflows and improving on-chain dynamics, continue to support the case for further upside. Analysts at Marex pointed to three catalysts that could determine whether BTC extends higher.
“First, whether spot keeps buying into strength, not just buying dips. Second, whether exchange supply continues to tighten, which reduces immediate sell pressure. Third, whether the derivatives market stays constructive without overheating. If those line up, the path to the mid 80s opens fast,” they said.
Alex Kuptsikevich, chief market analyst at FxPro, said BTC’s recent pullback appears more like a pause than a sign of trend exhaustion.
“This pause also coincided with the RSI touching the overbought zone (>70) on daily timeframes. It is worrying that the previous three touches of these levels (in August, October and January) were followed by sharp selloffs. It is quite logical that market participants are taking a breather to assess the situation and gather strength,” he said in an email.
In traditional markets, the 10-year U.S. Treasury yield has eased to 4.32%, reversing the early-month spike to 4.46% in a potentially positive development for risk assets.
The Bank of Japan continues to intervene in FX markets to support the anti-risk Japanese yen, while several Asian currencies remain under pressure from the recent oil price spike triggered by the Iran war. Meanwhile, Nasdaq futures continue to hover near record highs. Stay alert.
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”
What’s trending
BNY, world’s largest custody bank, expands crypto services in Abu Dhabi (CoinDesk): BNY, which oversees $59 trillion in assets, is working with Finstreet and ADI Foundation to build regulated digital asset infrastructure anchored in Abu Dhabi Global Market (ADGM).
Oil prices fall below $100 as U.S.-Iran tensions keep traders focused on Strait of Hormuz risks (CNBC): Oil prices fell Thursday in volatile trading amid renewed tensions between U.S. and Iran. International benchmark Brent crude futures for July fell 1.85% to $99.40 a barrel. U.S. West Texas Intermediate futures for June rose 1.85% to $93.21 per barrel.
Iran reviewing US proposal as Trump pressures Tehran for agreement on deal to end war (AP): Iran is reviewing the latest American proposals on ending the war, as Trump threatens with a new wave of bombing unless a deal is reached that includes reopening of the Strait of Hormuz.
France moves aircraft carrier to Red Sea with eye on Hormuz mission (Reuters): France deployed its carrier strike group to the Red Sea as part of planning for a potential mission to secure the Strait of Hormuz.
Today’s signal
The chart shows bitcoin struggling to establish a firm breakout above the upper boundary of the rising channel that has defined its steady recovery from the February lows below $63,000.
Just above the upper boundary sits the closely watched 200-day simple moving average (SMA) near $83,300, a long-term trend indicator many institutional and systematic traders use to gauge whether the broader market trend is bullish or bearish.
Taken together, the top of the channel and the 200-day SMA form a key resistance zone. A decisive break above both levels would strengthen the case that bitcoin’s recovery is evolving into a broader uptrend and could open the door for a move toward the mid-$80,000s.
But repeated failure to clear this area could encourage profit-taking and short-term caution, especially after bitcoin’s strong rebound over the past three months.
Bitcoin (BTC) is attempting its first Bollinger Bands breakout in months, while creator John Bollinger is more bullish than some traders.
Key points:
- Bitcoin faces stiff resistance as it attempts daily candle closes above the upper Bollinger Band.
- Volatility comes on cue after the Bands’ tightest-ever conditions last month.
- Creator John Bollinger takes advantage of positive trading signals as part of his investment program.
Responses mixed as Bitcoin tests Bollinger Bands ceiling
Data from TradingView confirms that on Wednesday, BTC/USD saw its second daily close above the upper Bollinger Band on the daily chart, something it has not achieved since mid-January.
BTC/USD one-day chart with Bollinger Bands data. Source: Source: Cointelegraph/TradingView
The Bollinger Bands indicator, used to assess both volatility and momentum, recently saw the narrowest gap between its constituent trend lines ever recorded for Bitcoin.
This led to predictions of a breakout move, with the direction open to debate, as well as heightened volatility to come.
Commenting on the visit to the upper band, however, trader SuperBro noted that the price was now in an area full of potential points of rejection.
“Closed above the upper Bollinger Band, above the trendline on closing prices, but just below the log trendline on wicks,” they wrote in a post on X.
SuperBro added that most potential liquidations now belonged to long positions below the price, with shorts already taken out.
“There are relatively few short liquidations remaining up to 85K compared to long liquidations down to 74K,” they continued.
“However, bulls still have the momentum advantage and I don’t yet see a good reversal setup. Despite the liquidation imbalance, I’m holding tight to see if we can blast through.”
BTC/USD one-day chart with order-book liquidity data. Source: SuperBro/X
Bollinger, the indicator’s creator, revealed that one of his investment fund’s proprietary trading models had flipped positive on Bitcoin, and had taken a position accordingly.
Source: John Bollinger/X
“Overheated” Bollinger signal returns after 18 months
Wednesday also saw another Bollinger Band milestone, this time concerning the market value to realized value (MVRV) ratio for speculative investors.
Related: Bitcoin can crash to $50K if ‘most critical’ bear market test fails: Analysis
The metric, recently covered by Cointelegraph, compares Bitcoin’s market cap to the price at which the supply last moved, also known as its “realized cap.”
A Bollinger Bands derivative entered “overheated” territory for the first time since late 2024, the X analytics account Frank Fetter noted.
At the time, BTC/USD was building its first visit to $100,000 in history.
Bitcoin short-term holder MVRV ratio with Bollinger Bands oscillator. Source: Frank Fetter/X
Asked whether “overheated” conditions implied a price reversal, the account said this was “not necessarily” a given outcome.
A 20-year-old California man has been sentenced to six and a half years in federal prison for his role in a crypto theft ring that defrauded victims of more than $250 million.
Marlon Ferro, of Santa Ana, known online as “GothFerrari,” was sentenced to 78 months in prison alongside three years of supervised release and $2.5 million in restitution, the US Attorney’s Office for the District of Columbia said Wednesday. Ferro pleaded guilty in October 2025 to participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy.
“Marlon Ferro served as the criminal enterprise’s instrument of last resort,” US Attorney Jeanine Ferris Pirro wrote, adding that when co-conspirators couldn’t talk victims into surrendering their crypto or hack into their accounts remotely, they sent Ferro to break in physically and steal the hardware wallets storing the funds.
In a February 2024 incident, he traveled to Winnsboro, Texas, broke into a home and walked out with a hardware wallet holding about 100 Bitcoin worth more than $5 million at the time. Months later, he flew to New Mexico, spent days staking out a residence and used a brick to smash his way inside while co-conspirators monitored the victim’s location through his iCloud account. A home surveillance camera caught him in the act.
Ferro using a brick to break into a victim’s home. Source: Justice
Related: Coinbase faces lawsuit over frozen funds from $55M crypto theft
When hacking didn’t work, they sent a burglar
The conspiracy ran from late 2023 to early 2025, with members across California, Connecticut, New York, Florida and overseas. The conspirators each had a role, including hacking databases, identifying targets, making fraudulent calls and laundering money. When victims kept their funds on hardware wallets that couldn’t be accessed remotely, the gang turned to Ferro.
Ferro and his co-conspirators spent the stolen funds on luxury items, including Hermès Birkin bags, watches priced up to $500,000, private jets and exotic cars worth as much as $3.8 million. Nightclub tabs alone reached $500,000 in a single evening.
Ferro also laundered money using fake identification documents, purchased over $255,000 in designer goods for co-conspirators, and helped a jailed conspiracy leader by converting crypto to cash to cover legal fees.
The investigation was led by the FBI and IRS Criminal Investigation.
Related: Law enforcement freezes $41M connected to $150M crypto Ponzi collapse
Crypto hack losses top $630 million in April
April was the worst month for crypto hacks in over a year, with losses totaling $629.7 million, according to DefiLlama. KelpDAO’s $293 million exploit and Drift Protocol’s $280 million hack drove the bulk of the damage, together accounting for more than 90% of monthly losses.
According to Chainalysis security head Yaniv Nissenboim, April’s hack surge reflects a shift toward sophisticated attacks targeting the infrastructure connecting onchain protocols to offchain systems.
Magazine: AI-driven hacks could kill DeFi — unless projects act now
Key Highlights
- AMINA becomes pioneering regulated financial institution to offer Canton Coin trading services
- Swiss crypto bank introduces regulated custody solutions for Canton Coin holdings
- AMINA broadens institutional digital asset offerings with Canton Coin integration
- Canton Network infrastructure receives boost as AMINA launches trading and custody
- AMINA advances tokenized asset access through Canton Coin platform support
Swiss digital asset bank AMINA has introduced regulated custody and trading capabilities for Canton Coin throughout its institutional banking infrastructure. This strategic expansion reinforces AMINA’s standing in blockchain-based financial services and tokenized asset solutions. The integration provides institutional clients with direct Canton Network access under comprehensive regulatory supervision.
Swiss Bank Broadens Canton Network Institutional Reach
AMINA achieved a milestone as the inaugural FINMA-regulated banking institution to deliver custody and trading capabilities for Canton Coin. The Swiss bank broadened regulated entry points to blockchain technology designed specifically for capital markets functions. This integration facilitates tokenized asset management, collateral operations, repurchase agreement activity, and financial settlement processes.
AMINA rolled out these new capabilities via its regulated banking infrastructure headquartered in Zug, Switzerland. Institutional clients can now maintain and execute Canton Coin transactions directly through the bank, eliminating reliance on third-party crypto custodians or trading platforms. These services specifically address institutions leveraging blockchain technology for settlement operations and asset tokenization processes.
Canton Network maintains its appeal among established financial services companies seeking privacy-oriented blockchain solutions. The network presently facilitates approximately $9 trillion in digitized assets throughout financial markets infrastructure. Digital Asset engineered this infrastructure with backing from prominent financial institutions and cryptocurrency industry participants.
Canton Network Strengthens Position in Institutional Finance
AMINA unveiled Canton Coin capabilities amid intensifying institutional blockchain adoption throughout worldwide financial markets. Canton Network consolidated its role in tokenized finance and compliant settlement infrastructure. The platform emphasizes privacy preservation, operational control, and atomic settlement capabilities for regulated financial entities.
Numerous established finance organizations currently utilize Canton Network infrastructure spanning various market categories. Participating institutions include Visa, BitGo, Goldman Sachs, Citadel, and the Depository Trust & Clearing Corporation. Their involvement demonstrates rising institutional appetite for regulated blockchain frameworks and settlement technologies.
Institutional engagement with Canton Network experienced notable growth throughout recent periods across diverse financial instruments. Earlier in the year, BitGo extended its Canton-focused offerings beyond custody functions into trading and blockchain-based settlement. Furthermore, S&P Dow Jones Indices incorporated its US Treasury Index benchmark into the network for tokenized fixed-income product access.
Swiss Bank Extends Regulated Digital Asset Operations
AMINA has systematically developed its regulated cryptocurrency operations throughout Asia and Europe during the previous year. In November 2025, regulatory authorities in Hong Kong granted enhanced licensing authorization for AMINA’s regional subsidiary. This authorization enabled institutional cryptocurrency trading and custody capabilities within Hong Kong’s financial markets.
The Hong Kong authorization additionally broadened AMINA’s support for numerous prominent digital currencies and stablecoins. Approved digital assets encompassed Bitcoin, Ethereum, USD Coin, and Tether throughout institutional banking platforms. Consequently, AMINA fortified its regulated digital asset portfolio for professional market participants and family office clients.
AMINA simultaneously extended its European footprint through additional regulatory clearances under the European Union’s MiCA regulatory framework. Austria’s Financial Market Authority granted approval to the bank’s Austrian entity for cryptocurrency trading and custody operations. Moreover, AMINA launched institutional financial products connected to Ripple’s RLUSD stablecoin, Polygon staking mechanisms, and USD Coin yield-generating accounts.
Cardano van Rossem hard fork news landed on the preview test network on May 5, with Intersect, the member-based organization coordinating Cardano’s technical roadmap, confirming both the governance action submission and the release of Cardano Node version 11.0.1 Pre-Release simultaneously.
The upgrade moves Protocol Version 11 one step closer to mainnet, with the critical variable now shifting entirely to SPO (Stake Pool Operator) readiness: at least 85% of stake pools by active stake must upgrade before ratification can proceed.
For ADA holders watching the Voltaire era governance machinery run in real time, this is the preview phase working exactly as designed.
Node 11.0.1 is the first release to formally support Cardano’s intra-era hard fork mechanism – meaning the chain upgrades protocol version without triggering an era transition out of Conway.
Transaction shape doesn’t change. Ecosystem disruption is structurally minimized. The release also bumps cardano-api and cardano-cli to their 11.0 series and advances the experimental hard fork target to protocol version 12, signaling the development pipeline is already looking beyond the current upgrade.
The upgrade bundles five new Plutus primitive sets, defined in CIP-0109, CIP-0132, CIP-0133, CIP-0138, and CIP-0153, and unifies built-in functions across Plutus V1, V2, and V3. That last point matters: existing V1 and V2 scripts gain access to the full expanded built-in set after the fork, which expands DApp capabilities without requiring contract rewrites.
Discover: The best crypto to diversify your portfolio with
What are the 85% SPO Threshold News Triggers for Cardano
The 85% active-stake threshold is not a soft target; it is a constitutional requirement embedded in Cardano’s governance framework.
Under the rules established through the Voltaire era’s on-chain governance model, the hard fork governance action cannot be ratified until SPOs representing at least 85% of active stake have upgraded to a node version supporting Protocol Version 11.
DReps (Delegate Representatives) and the Constitutional Committee must also vote before the action is enacted on-chain.
The threshold logic exists to prevent a chain split. If a critical mass of block-producing nodes hasn’t upgraded, the network risks producing incompatible blocks at the fork boundary, the same failure mode that caused a mainnet chain partition in late 2025 when a malformed delegation transaction forced emergency SPO upgrades to node 10.5.3.
That incident made clear that SPO coordination isn’t procedural theater; it’s the actual security layer.
The current SPO upgrade percentage on preview is not yet publicly confirmed at a precise figure, but the historical pattern from prior Cardano hard forks, including the Chang upgrade cycle, suggests the initial wave of large, professionally run pools upgrades within the first 72 to 96 hours of a preview release.
Smaller home-hosted pools typically lag by one to two weeks. Community tracking tools, including Cardano Scan and PoolTool, are the live data sources to watch as the count climbs toward the 85% mark.
Intersect’s announcement was direct:
“ATTENTION
The van Rossem Hard Fork GA has been submitted to the Preview test network today. Cardano Node version 11.0.1 Pre-Release is also now available. This version is an essential requirement to safely cross the hard fork. SPOs, DApps, and developers are urged to upgrade immediately.”
The Chang hard fork experience – where exchange and dApp lags delayed mainnet activation even after SPOs crossed the initial threshold – means the pressure is now on the full ecosystem stack, not just pool operators.
Discover: The best pre-launch token sales
The post Cardano News: Preview Network Milestone Tracking the 80% SPO Threshold for Mainnet appeared first on Cryptonews.
Crypto World
Bitcoin Operates Outside the Regulatory System: Arthur Hayes Take on Crypto and Clarity Act
Arthur Hayes told Consensus 2026 that the Clarity Act fundamentally misunderstands what Bitcoin is, and any attempt to fold it into a federal regulatory framework destroys the only thing that makes it valuable.
The argument landed while BTC traded above $82,000, with institutional ETF inflows accelerating, suggesting the market and the ideology are currently pointing in opposite directions.
Arthur Hayes Opinions Matter
Hayes argues that Bitcoin’s value derives from operating outside any regulatory apparatus, and he also noted that legislation like the Clarity Act doesn’t clarify anything .
“This is the value that bitcoin provides outside of the regulatory apparatus,” Hayes told the audience. “It’s precisely the reason that it does not adhere to the regulatory regime that some of you wish to put it under with bills like the Clarity Act and other things.”
On price, Hayes kept it equally blunt. “If you want to talk about the price of bitcoin and what the fair value is, all that matters is how many units of fiat there are today.” His year-end BTC target sits at $125,000, tied entirely to global monetary expansion, not legislative outcomes. Regulation, in his framework, is simply irrelevant to the price calculation.
LATEST: — CoinMarketCap (@CoinMarketCap) May 6, 2026
Arthur Hayes told Consensus Miami 2026 that fiat money creation, not politics or regulation, is the only driver of Bitcoin's price. pic.twitter.com/AD94CtJwtO
Hayes went further, arguing that enthusiasm for the Clarity Act inside the industry reflects the interests of centralized incumbents with Washington lobbying operations, not the decentralized ecosystem Bitcoin was built to circumvent. “People who own centralized companies want regulation because it benefits their business,” he said. In Hayes’s view, the DeFi ecosystem and privacy-focused infrastructure get nothing from this bill except a federal licensing framework they cannot technically comply with.
“People who own centralized companies want regulation because it benefits their business.”
His position stands in direct contrast to the dominant tone at Consensus 2026. Ripple CEO Brad Garlinghouse has been lobbying aggressively for the Senate to advance the legislation before the May 21 Memorial Day recess.
Discover: The best crypto to diversify your portfolio with
Does the Bitcoin Agree With Hayes?
Bitcoin climbed 8% in a week to $82,600 following Hayes’s remarks at Consensus Miami 2026, extending a run that has kept BTC above $80,000 through weeks of legislative uncertainty. Spot Cumulative Volume Delta surged 199% over the same window, showing aggressive buy pressure.
Bitcoin ETFs added $532M in a single session as the Clarity Act advanced through committee, pushing cumulative ETF AUM past $59 billion with total institutional exposure exceeding $106 billion.
An anonymous analyst noted that Bitcoin is entering a commodity supercycle driven by structural monetary debasement, which aligns with Hayes’s fiat-supply thesis even as the ETF narrative suggests that institutional players want the regulatory architecture Hayes opposes.
Bitcoin trading above $81,000 with record ETF inflows doesn’t prove Hayes wrong.
Discover: The best pre-launch token sales
The post Bitcoin Operates Outside the Regulatory System: Arthur Hayes Take on Crypto and Clarity Act appeared first on Cryptonews.
Ripple (XRP) posted a minor increase in the last 24 hours, pushing the asset’s monthly surge to 7%. Despite this, the $1.45 level remains a major hurdle for the asset.
Against this backdrop, data suggest that there has been a clear shift in the behavior of major investors over recent months.
XRP Selling Pressure Indicator
According to CryptoQuant’s latest analysis, whale inflows of XRP to Binance have dropped to their lowest level since November 2021. The firm explained that the 30-day cumulative inflow indicator, also known as Sum 30D, climbed to around 2.6 billion XRP at the beginning of March, which was indicative of a strong movement of tokens from whales toward the exchange.
Large transfers of crypto assets to centralized trading platforms are often linked to increased selling activity or portfolio repositioning by major holders. However, since reaching that peak, the indicator has steadily moved lower and has now fallen to nearly 736 million XRP.
As such, CryptoQuant stated that this is the lowest level recorded for the metric in more than three years. The decline essentially points to exchange-related selling pressure from whales easing considerably compared to earlier months. The analysis also revealed that the continued drop in inflows during a period of broader market volatility may reflect a more cautious stance among large investors as uncertainty remains across the crypto market.
It is important to note that lower whale inflows to exchanges are generally viewed as a positive signal because they reduce the risk of sudden sell-offs caused by large token transfers. Hence, if the trend continues and inflows remain low while demand and price conditions improve, the data could support XRP in building a more stable price base over time as selling pressure from major holders continues to weaken.
Institutional Demand and Global Expansion
On the institutional front, US spot XRP ETFs have shown renewed momentum. After seeing more than $31 million in outflows during March, the products rebounded sharply in April with $81.6 million in inflows. The positive trend has continued into May, as the funds have attracted more than $28 million in fresh inflows so far this month.
Meanwhile, Ripple has continued expanding its activity across several markets in recent months. The company recently partnered with OKX for the listing of its RLUSD stablecoin and also joined efforts with the Crypto ISAC network to share information related to North Korean cyber threat actors targeting the crypto sector.
It has additionally expanded its regional presence in the Middle East and Africa through new office openings.
In South Korea, the company signed a partnership agreement with internet-only lender KBank to move blockchain remittance testing beyond early-stage trials and focus on real-world integration and scalability. The agreement was signed at KBank’s headquarters in Seoul with executives from both firms in attendance, including Ripple Asia-Pacific Managing Director Fiona Murray.
Prior to that, Ripple had entered another South Korean partnership with Kyobo Life Insurance to work on institutional digital asset infrastructure tied to tokenized government bond transactions.
The post Major Ripple (XRP) Metric Just Hit a Level Not Seen Since 2021 appeared first on CryptoPotato.
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