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Kraken unlocks full U.S. derivatives play after Bitnomial buy

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Kraken unlocks full U.S. derivatives play after Bitnomial buy

Payward has completed its acquisition of Bitnomial, giving Kraken a regulated pathway to launch crypto derivatives in the U.S.

Summary

  • Payward has completed its Bitnomial acquisition, securing all three CFTC licenses needed to run a U.S. crypto derivatives business.
  • Kraken will begin with spot margin trading, with perpetuals and options set to follow, co CEO Arjun Sethi said.
  • The deal, previously valued at up to $550 million, gives Payward a regulated route to offer derivatives through Kraken and NinjaTrader.

According to a company statement released Friday, the deal hands Payward control of a full set of Commodity Futures Trading Commission licenses, including a Futures Commission Merchant, a Designated Contract Market, and a Derivatives Clearing Organization, allowing it to operate trading, clearing, and brokerage services under one framework.

Arjun Sethi, co-CEO of Payward and Kraken, said the rollout will begin with spot margin trading on Kraken, with perpetual contracts and options scheduled to follow, adding that “that stack is what makes the next set of products possible.”

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Bitnomial, based in Chicago, spent more than a decade securing the three CFTC approvals required to run a complete derivatives operation, a combination no other crypto-native U.S. firm holds at the same time, according to Payward’s earlier disclosure in April.

With the transaction closed, Bitnomial will operate within Payward while keeping its regulatory structure and third-party services intact, the company said, alongside plans to expand the exchange’s team as development continues.

Payward said the integration will connect Bitnomial’s infrastructure across Kraken, NinjaTrader, and its business-to-business platform, allowing banks, brokerages, and payment firms to access regulated U.S. crypto derivatives through a single API.

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When the acquisition was first announced, Payward said the deal could reach up to $550 million in cash and stock, valuing the company at $20 billion, although final terms were not disclosed upon closing.

Company data released in April showed Payward generated $2.2 billion in revenue in 2025, processed about $2 trillion in transaction volume, and held more than $48 billion in customer assets at year-end.

Outside the U.S., Payward said it already runs regulated derivatives businesses in the UK following a 2019 acquisition and introduced EU-regulated offerings in 2025, building out its international presence ahead of entering the U.S. market with a fully licensed structure.

The acquisition follows a separate $200 million investment from Deutsche Börse Group earlier this month, while Payward confirmed it had confidentially filed a draft S-1 with the U.S. Securities and Exchange Commission in November as it continues to consider a public listing.

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Bitcoin Trader Sees $88,000 and Higher After BTC Hits Three-Month High

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Bitcoin Trader Sees $88,000 and Higher After BTC Hits Three-Month High

Bitcoin (BTC) starts a new week in fighting form as $80,000 returns after a three-month absence.

  • Bitcoin finally taps the $80,000 mark for the first time since late January, as a trader brings $88,000 and higher back into focus.
  • The Bitcoin bear flag construction is in the spotlight, while some still see a new macro breakdown coming.
  • Dissent at the Federal Reserve contrasts with record highs for the S&P 500, but analysis warns that stocks are not safe.
  • Oil is done and the overall supply overhang will drive a comedown, new research says in a potential risk-asset tailwind.
  • Bitcoin’s MVRV ratio metric is now at its highest levels since late January.

BTC price can hit $88,000 and higher next: Trader

It started with a break through a key 21-week trend line last week, and now, Bitcoin is back at $80,000 for the first time in three months.

Data from TradingView shows new local highs of $80,617 on Bitstamp.

The weekly close did not disappoint, becoming Bitcoin’s highest since late January and only its second above the 21-week trend line since October 2025.

BTC/USD one-week chart with 21EMA. Source: Cointelegraph/TradingView

Correspondingly, market participants are daring to forecast even highs levels next. For crypto trader and analyst Michaël van de Poppe, $88,000 is just the start.

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“Bitcoin looks primed for upwards momentum,” he wrote in one of his latest posts on X

“Very keen to see how the markets will react when the US opens, especially given the positive ETF flows of last Friday. Breakout above $79K opens the opportunities all the way towards $86-88K for coming period.”

BTC/USDT one-day chart. Source: Michaël van de Poppe/X

Van de Poppe referred to Friday’s $630 million net inflows for US spot Bitcoin exchange-traded funds (ETFs).

As a result of February’s drop to the $60,000 zone, which he described as “one of the strongest corrections in its existence,” Van de Poppe suggested that a reset of onchain indicators had now locked in.

“That means: we can easily run to $92-95K without any breakdown of the bear market trend, and we can easily start a bull market from here,” another post stated on Sunday.

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Traders split over Bitcoin’s bear flag

Bitcoin pushing to $80,000 has implications for a multi-month bearish structure on the daily BTC/USD chart. This bear flag, Bitcoin’s second of 2026, is now tantalizingly close to being left behind.

At the same time, a failure to break higher leaves price vulnerable to a comedown — possibly to new macro lows.

“If it does lose this structure, a deeper move down in that 30–40% range wouldn’t be surprising and the whole market probably feels it,” trader and investor Crypto Storm wrote in a post on X

“Only real shift in this view is a clean daily close back above 80K, that would flip things bullish again.”

BTC/USDT one-day chart. Source: CryptoStorm/X

Trader BitBull is among those seeing failure as the likely outcome, telling X followers that they would soon begin building short positions with a $60,000 target.

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“$BTC bear flag is very close to completion,” they summarized.

BTC/USDT one-day chart. Source: BitBull/X

Consensus, however, is far from unanimous about where BTC/USD will go next. For trader Jeff Sun, the signals are clear that Bitcoin bulls have already won out.

“Spot has now reclaimed $80,000 for the first time since January 31, 2026. This is a position I have been building via ETF since early March,” he reported on Monday.

Sun described the structure as “not a bear flag” based on the latest three-month price highs.

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BTC/USD one-day chart. Source: Jeff Sun/X

Like Sun, late last month, Jurrien Timmer, director of global macro at Fidelity Investments, pointed to Bitcoin’s rebound from the $60,000 area in early February. 

“The rally off the $60,033 low could still be described as a bear flag (not unlike the bear market rally last fall), but my sense is that Bitcoin continues to build a large base here in preparation for the next major up wave,” he told X followers at the time.

Fed rate cuts “over for now” as officials spar

As the US-Iran war grinds on for a third month, its impact on inflation is increasingly on officials’ minds.

The Federal Reserve’s latest interest-rate meeting underscored the Iran tensions, along with near three-year highs in its “preferred” inflation gauge.

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Consensus over policy was noticeably under strain, and dissent from four members of the Federal Open Market Committee (FOMC) made for the most conflicted meeting statement since the early 1990s.

“The primary reason for dissent was against language in the meeting statement indicating an easing bias,” trading resource Mosaic Asset Company commented on the topic in the latest edition of its regular newsletter, The Market Mosaic

“Leading indicators of the fed funds rate indicates that the Fed’s easing cycle is over for now.”

Fed target rate probabilities (screenshot). Source: CME Group

As multiple senior Fed figures take to the stage this week and Chair Jerome Powell is replaced by Kevin Warsh on May 15, data from CME Group’s FedWatch Tool shows that easing is the last thing that markets now expect this year.

Risk assets traditionally struggle when policy is at risk of tightening. So far, however, stocks have shaken off any cold feet, with the S&P 500 hitting new record highs last week.

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Continuing, Mosaic said that those highs were driven by a “sharp jump in corporate earnings.”

“If inflation does start accelerating further in the months ahead, that could add significant pressure to stock valuations,” it warned. 

“High inflation tends to lead to high interest rates, which makes the present value of future corporate profits worth less in present value terms.”

S&P 500 one-day chart. Source: Cointelegraph/TradingView

Oil gains “fully priced in” despite Iran war

In analytics circles, there is growing conviction over the fate of global oil prices.

In his latest Commodity Report on Monday, analyst Lukas Kuemmerle said that despite the ongoing supply squeeze, the overall trend still points to supply outweighing demand. 

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“Brent crude is currently trading around $112 per barrel, up from $61 at the start of the year. The price has tested the March and April highs three times in the past month — and each time it has been rejected,” he noted. 

“This is classic technical behaviour for a market where the bullish story is fully priced in.”

Crude oil futures one-day chart. Source: Lukas Kuemmerle

Kuemmerle said that markets have not forgotten the “supply growth” narrative for 2026, and that an oil-price comedown is all the more likely because of it.

“Even Goldman Sachs, the most war-bullish of the major banks, sees Brent averaging $85 with the Hormuz disruption fully priced in,” he continued.

Brent spot passed $120 per barrel for the first time since 2022 last week, subsequently cooling before returning to $115 to start the week.

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Spot Brent crude oil one-week chart. Source: Cointelegraph/TradingView

Kuemmerle, meanwhile, adds that “hedge funds that wanted to be long the Iran story are already long.” 

“The flow has turned,” he concluded, saying that smart money “has already repositioned for the reversal.”

Bitcoin MVRV ratio shows ongoing recovery

A key Bitcoin onchain metric is increasingly supporting the bull case this month.

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Related: Crypto industry will be ‘just fine’ if CLARITY Act doesn’t pass: Chris Perkins

Data from onchain analytics platform CryptoQuant this week flags multimonth highs in Bitcoin’s market value to realized value (MVRV) ratio tool.

MVRV ratio compares Bitcoin’s market cap to the price at which the supply last moved, also known as its “realized cap.”

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Values below 1 suggest oversold conditions, with the metric dipping to lows near 1.1 during Bitcoin’s trip to $60,000.

“The Bitcoin MVRV Ratio is currently reading around 1.45, a significant level as it represents one of its highest readings since the beginning of 2026,” CryptoQuant contributor Arab Chain now notes. 

“This signal reflects a clear improvement in Bitcoin’s market valuation relative to its realized value, suggesting that the market has begun to regain an important portion of its momentum following a period of decline and rebalancing during the first months of the year.”

Bitcoin MVRV ratio. Source: CryptoQuant

Arab Chain describes MVRV as showing a “gradual improvement in investor profitability.”

“If the indicator continues to climb in the coming period, it could point to the market entering a stronger and more mature phase within the broader upward trend,” it adds.

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Anthropic Partners With Blackstone and Goldman Sachs on $1.5B AI Initiative for Enterprise Sector

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

Key Highlights

  • AI company launches $1.5B initiative focused on private equity portfolio businesses
  • Leading investment firms commit substantial capital to enterprise automation deployment
  • New platform will deliver AI capabilities for financial operations, data analysis, and customer support
  • Financial sector deepens commitment to commercial artificial intelligence applications
  • Portfolio companies stand to benefit from standardized AI-powered business solutions

A groundbreaking $1.5 billion collaboration is taking shape between Anthropic and leading financial institutions including Blackstone and Goldman Sachs. This strategic partnership aims to deliver comprehensive AI automation solutions to businesses backed by private equity investors. The initiative represents a significant shift toward enterprise-focused artificial intelligence deployment led by prominent Wall Street players.

Major Financial Institutions Rally Behind AI Deployment Initiative

According to reporting from the Wall Street Journal, the collaboration will see Anthropic, Blackstone, and Hellman & Friedman each contributing approximately $300 million to the initiative. Meanwhile, Goldman Sachs is expected to allocate around $150 million to the effort. Additional financial institutions may participate as the partnership structure moves toward finalization.

The initiative’s primary focus will be delivering AI-powered solutions to businesses within private equity portfolios. Such companies typically require enhanced reporting capabilities, operational efficiency improvements, and cost reduction measures. As a result, this approach provides Anthropic with strategic access to enterprises already operating under sponsor-driven improvement frameworks.

Planned AI applications span enterprise software integration, customer support automation, business intelligence, financial management, and operational workflows. The platform may additionally enable portfolio companies to implement consistent technology standards across multiple divisions. Sources indicate a public announcement could materialize as soon as May 4.

Investment Giants Strengthen Corporate Technology Footprint

Blackstone’s participation provides the collaboration with extensive connections throughout the private equity ecosystem. The firm’s involvement can facilitate widespread adoption among portfolio enterprises seeking enhanced digital infrastructure. Goldman Sachs contributes substantial financial resources and extensive corporate networks that position the platform for rapid expansion.

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Hellman & Friedman’s participation further reinforces the venture’s foundation within the private equity sector, given its significant presence across software, business services, and financial technology sectors. The firm’s anticipated $300 million investment underscores the partnership’s grounding in private equity expertise. This framework combines cutting-edge AI development with organizations experienced in enterprise cost optimization and operational transformation.

The collaboration emerges amid growing demand from financial sponsors for actionable AI solutions beyond experimental software implementations. Numerous portfolio companies seek quantifiable improvements in customer service, analytical capabilities, financial reporting, and administrative functions. This venture emphasizes practical business applications rather than consumer-oriented experimentation.

Corporate AI Adoption Accelerates Through Private Equity Channels

Anthropic has attracted increasing interest as organizations evaluate AI platforms for sophisticated workplace applications. Reports have also surfaced regarding potential fundraising activities at significantly elevated valuations. Nonetheless, this partnership primarily underscores market appetite for direct enterprise distribution mechanisms and expanded commercial implementation.

The enterprise AI landscape remains highly competitive, with OpenAI similarly pursuing private equity collaborations. Such initiatives demonstrate how AI developers seek connections to expansive corporate networks and scalable implementation pathways. Furthermore, financial sponsors can accelerate technology adoption when portfolio businesses share comparable operational requirements.

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Anthropic has additionally engaged in preliminary discussions with UK-based chip developer Fractile regarding inference processing resources. Such specialized processors enable faster model execution with reduced computational expenses. Therefore, Anthropic is coordinating software expansion efforts with computational infrastructure planning as enterprise AI requirements intensify.

 

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Coinbase boosts Solana trading with DFlow integration

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Coinbase (COIN), Bybit said to be working together on tokenization, custody and distribution of U.S. stocks

U.S.-listed cryptocurrency exchange Coinbase has integrated trading protocol DFlow, allowing traders to exchange value across spot and prediction markets natively on Solana, the companies said on Monday.

Coinbase adding DFlow as its primary router will mean eight times less trade failures. The move also increases liquidity on tokens that were previously untradeable, and improves the prices users receive, according to a press release.

The DFlow aggregator, which services over a million active traders per month, was tapped by prediction market giant Kalshi in December. Coinbase said that before DFlow, roughly one in 30 trades on Coinbase’s Solana product could not be routed due to insufficient liquidity coverage; now it’s one in 250.

In addition, many smaller Solana tokens previously returned “no liquidity” when users tried to sell them. DFlow finds routes that other aggregators miss, turning failed trades into successful ones, particularly on the sell side, according to a press release.

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“The best trading experience means trading infrastructure that works 24/7, has the best coverage, and provides the best price. Adding DFlow helps with all three of those,” said Richard Wu, Onchain Trading at Coinbase.

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Clarity Act Update: Industry Leader Says Crypto Market Is ‘Fine’ Despite Deadlock

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🇺🇸

Franklin Templeton’s Chris Perkins argues that the $2.7 trillion crypto market doesn’t need the Clarity Act to survive. Despite months of Senate deadlock on the landmark market structure legislation, the industry has already proven it can grow, attract capital, and build institutional rails without a federal regulatory framework in place.

The Clarity Act cleared the House last July, in a 294–134 bipartisan vote, drawing unanimous Republican support and 78 Democrats. Since then, the Senate has stalled on three stubborn issues: stablecoin yield language, DeFi provisions, and securing the full Republican committee bloc needed to advance.

Senate Banking Committee Chairman Tim Scott identified those pressure points on April 14, 2026, calling each resolvable within two weeks, a deadline that has already slipped.

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Where the Clarity Act Actually Stands

The path from Senate Banking Committee to presidential signature involves five discrete steps: committee markup and vote, a 60-vote Senate floor threshold, reconciliation with the Agriculture Committee’s Digital Commodity Intermediaries Act, House-Senate conference, and then signature.

Each step is a potential kill zone. Senator Thom Tillis requested additional review time on stablecoin regulation and yield structures in late April, pushing the Banking Committee markup from April into May, the third timeline revision in as many months. Although it looks like it has already been resolved.

Ripple CEO Brad Garlinghouse has now shifted his passage prediction twice: 80% odds by the end of April on February 19, revised to the end of May on April 13, citing what he called “peak frustration” as a signal that compromise was near.

Polymarket pricing puts 2026 enactment at 50-50 or lower. TD Cowen analyst Jaret Seiberg has noted that passage may ultimately require a deal that dissatisfies both the crypto lobby and the banking sector equally, which is a rough definition of a workable compromise.

Senator Cynthia Lummis put it plainly at Bitcoin Conference 2026:

“We are gonna markup the CLARITY Act in May… We are gonna get it to the finish line.”

She also issued the clearest warning about failure: a stall in 2026 likely means no market structure legislation until 2030 or later. Procedural delay?

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Is Crypto Actually ‘Fine’?

The executive argument isn’t baseless. Institutional adoption has accelerated without a federal framework: BlackRock’s IBIT and Fidelity’s FBTC have collectively pulled billions in net ETF inflows, with spot Bitcoin CVD data confirming aggressive institutional buying even through regulatory uncertainty.

Stablecoins, USDT and USDC combined, now underpin over $100 billion in daily trading volume globally, and the stablecoin market cap has crossed $320 billion without the Clarity Act’s stablecoin regulation provisions ever becoming law.

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At least one senior industry executive is arguing that the $2.7 trillion crypto market doesn't need the Clarity Act to survive. However,..
Stablecoins, Defillama

The ‘fine’ argument is essentially this: US crypto policy ambiguity has not killed the market. Grayscale’s court win against the SEC, the ETF approvals, and offshore liquidity have collectively done what legislation hasn’t. The industry has adapted.

Discover: Best Crypto to Buy Right Now

The post Clarity Act Update: Industry Leader Says Crypto Market Is ‘Fine’ Despite Deadlock appeared first on Cryptonews.

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DOGEBALL Presale Just Got Extended Giving Buyers Another Chance At $0.0004

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DOGEBALL Presale Just Got Extended Giving Buyers Another Chance At $0.0004

Momentum doesn’t wait, and DOGEBALL is proving exactly why timing matters when it comes to the best crypto presale to buy now. With rapid growth, strong early funding, and a clear real-world use case, DOGEBALL is capturing attention at a stage where entry prices are still incredibly low.

DOGEBALL has already raised over $275K+ with 950+ participants joining in just a few months. Due to this success and overwhelming community demand, the presale has been extended, giving investors a rare second chance to secure tokens at the current low price before it disappears again. Opportunities like this do not stay open for long, especially when momentum is this strong.

The DOGEBALL presale has extended and you can still secure DOGEBALL at $0.0004 but you must act fast before this chance vanishes again. Use code PAY35 today to get 35% extra tokens and lock in your position before the price moves up.

Why DOGEBALL Is The Best Crypto Presale To Buy Now With Real Utility And Growing Demand

DOGEBALL stands out as the best crypto presale to buy now because it is built on a custom Ethereum Layer 2 blockchain called DOGECHAIN, designed for speed, scalability, and real-world usage. It enables users to send crypto while receivers get fiat directly into their bank accounts globally, removing friction from international transactions.

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This system eliminates intermediaries, avoids FX fees, and supports 30+ currencies with near-instant transfers. It offers a direct solution to costly and slow remittance systems, making DOGEBALL not only efficient but also highly practical for everyday financial use.

How DOGEBALL Combines Payments And Gaming To Create Strong Investor Value

DOGEBALL is designed to drive consistent demand through its dual ecosystem of payments and gaming. The $DOGEBALL token is used for transaction fees, staking, and ecosystem activity, ensuring continuous utility and circulation across the platform.

The gaming side introduces a powerful revenue stream with a play-to-earn model offering up to $1M in rewards. Players can instantly convert earnings into fiat without losing 5–10% to intermediaries, making it highly attractive for gamers, streamers, and developers seeking faster and more profitable payouts.

Secure DOGEBALL At $0.0004 Today And Maximize Your Returns Before The Price Jumps

This presale extension is not just an update, it is a second entry window that many investors missed the first time. At the current price of $0.0004 and an expected launch price of $0.015, the upside potential is significant and clearly defined.

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A $1,000 investment at this stage could reach $37,500 at launch, delivering a 37.5× return. With code PAY35, you receive 35% extra tokens, increasing your total to a potential value of $50,625. This combination of low entry price and bonus allocation creates a powerful opportunity for early investors to maximize gains.

How To Join DOGEBALL Crypto Presale And Secure Your Tokens In Minutes

Getting started with the DOGEBALL presale is simple, making it easy for investors to act quickly while the price is still low. The process is designed to be fast, secure, and accessible for both new and experienced users.

Visit the official presale platform, connect your wallet, and choose your investment amount. Apply code PAY35 to receive 35% extra tokens, confirm your transaction, and your DOGEBALL allocation will be secured instantly before the next price movement.

DOGEBALL Presale Growth And Why This Second Chance Matters For Early Investors

DOGEBALL continues to gain traction as one of the strongest entries in the best crypto presale to buy now category. With over $275K raised and a rapidly growing community, the demand is already proven, and the extension reflects how quickly interest is accelerating.

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The DOGEBALL presale has been extended due to its success and strong community demand, creating a second chance to enter at a low price. This kind of opportunity rarely comes twice, and with growth building fast, securing your position now could make a significant difference in your returns.

The DOGEBALL presale has extended and you can still get DOGEBALL at $0.0004 but you must act fast before this chance vanishes again. Use code PAY35 today to get 35% extra tokens and secure your spot before the next price increase.

Find Out More Information Here

Website: https://dogeballtoken.com/

X: https://x.com/dogeballtoken

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Telegram Chat: https://t.me/dogeballtoken

FAQs For Best Crypto Presale To Buy Now

What is the best crypto presale to buy now?

DOGEBALL is the best crypto presale to buy now with $275K+ raised, strong utility in payments and gaming, and high growth potential at an early price stage.

Which crypto has 1000x potential?

Early-stage projects like DOGEBALL with real-world use, growing demand, and low entry prices offer higher chances of exponential returns over time.

How to find the best presale crypto?

Look for projects like DOGEBALL with strong funding, real utility, audited contracts, and active user growth to identify high-potential presales early.

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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XRP News: Thinking of Shorting XRP? You Might Get Squeezed

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XRP is now trading back above $1.40, following a few bullish news around it, especially their recent Middle East expansion and OKX partnership. Derivatives data also shows the calm exterior is concealing a coiled spring, and could hurt short sellers when it unloads.

A CryptoQuant analysis highlights a sharp divergence between XRP’s estimated leverage ratio on Binance and its current price level. The leverage ratio has collapsed back to approximately 0.1 levels last seen in late October 2024, when XRP was trading around just $0.50. Although today’s price is nearly three times that, the patterns could repeat.

The last time a similar divergence resolved to the upside, between late June and mid-July 2025, XRP surged from $1.96 to $3.65 as the leverage ratio climbed from below 0.3 to just under 0.6 over four weeks.

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Can XRP Escape Its News Range and Force a Short Squeeze?

XRP is currently priced around $1.40, consolidating in a tight band that has held for several sessions. Volume is subdued for now, even as the market shows improvement. But, low-volume consolidation above key support reads differently than low-volume drift lower.

Binance’s estimated leverage ratio for XRP sits near 0.1 while price holds well above pre-breakout levels. Excess speculative positioning has already been flushed. What remains is a relatively clean slate for the next directional move.

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XRP is now trading back above $1.40, following a few bullish news around it, especially their Middle East expansion and OKX partnership.
XRP USD, TradingView

If leverage begins rebuilding as fresh capital enters, it could drive XRP toward the $2.00 psychological level and potentially retracing toward the mid-2025 highs near $3.65.

But if price collapses to match the low-leverage environment, a flush back toward the $1.00–$1.10 area would technically “resolve” the divergence without a squeeze. What is clear is that passive short exposure here carries asymmetric risk. A leverage rebuild could be fast and violent.

Discover: The best crypto to diversify your portfolio with

Bitcoin Hyper Eyes Early Movers as XRP Builds Pressure

For traders watching XRP’s setup and wondering where meaningful upside still exists, without waiting on a decades-old asset to work through its derivatives backlog, the early-stage presale market offers a different risk profile entirely.

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One project currently drawing attention is Bitcoin Hyper ($HYPER), positioned as the first-ever Bitcoin Layer 2 with full Solana Virtual Machine (SVM) integration.

The premise is pointed: Bitcoin is slow, expensive, and largely unprogrammable. Bitcoin Hyper targets all three limitations simultaneously while delivering sub-second finality, low-cost execution, smart contract capability, and preserving Bitcoin’s underlying security. The SVM integration is the standout technical claim, with the project asserting performance that rivals (and potentially exceeds) Solana itself.

$HYPER is priced at $0.0136, with $32.5 raised to date. Staking is live with a high 36% APY for early participants.

The presale details are available at the Bitcoin Hyper presale page.

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North Korea Calls Cyber Threat Allegations “Absurd Slander” as DPRK Hack Losses Mount

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$3 Million Reportedly Lost in CrossCurve Bridge Exploit

North Korea has pushed back against allegations of state-backed cybercrime, dismissing the claims as “absurd slander.” 

The statement lands as blockchain investigators tie a growing share of major decentralized finance (DeFi) exploits to DPRK-backed actors.

North Korea Pushes Back on Cyber Threat Narrative

A Foreign Ministry spokesperson told the state-run Korean Central News Agency that US government bodies, media outlets, and affiliated organizations are promoting what they described as an “incorrect understanding of the DPRK.”

“Recently, the U.S. government organs, reptile media organs and plot-breeding organizations are trying to spread incorrect understanding of the DPRK to the international community, talking about the non-existent ‘cyber threat’ from the DPRK,” the spokesperson told KCNA.

The spokesperson argued it was “unreasonable” for Washington to claim victim status while controlling global IT infrastructure. The Foreign Ministry accused the United States of conducting indiscriminate cyber operations against other nations.

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“One common point in their unilateral assertion is that all cyber-related frauds in different parts of the world are related to us and that the U.S. boasting of the world’s best cyber technical power is the world’s greatest victim,” the statement read.

According to the ministry, such accusations are part of a broader pattern of hostility toward the Democratic People’s Republic of Korea, aimed at undermining its reputation for political purposes. The spokesperson also added that safeguarding cyberspace remains a consistent policy position for North Korea.

“The DPRK will never tolerate the hostile forces’ attempt at confrontation getting more undisguised in various domains including cyber space, but actively take all necessary measures for defending the interests of the state and protecting the rights and interests of its citizens,” the spokesperson added.

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Blockchain Forensics Tell a Different Story

Meanwhile, recent research highlights the scale of cyber activity attributed to North Korea-linked groups. A report by TRM Labs found that such actors were responsible for roughly 76% of crypto hack losses recorded in 2026 through April.

Two major incidents, the Drift and KelpDAO exploits, were attributed to separate groups. The combined losses were recorded at around $577 million. In 2025 alone, losses reached approximately $2.02 billion, including the Bybit hack.

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Separate research from the Ethereum Foundation-funded Ketman Project identified roughly 100 suspected DPRK IT workers across 53 crypto projects. The 6 month investigation flagged operatives using forged identities and AI-generated profiles to infiltrate Web3 firms.

Regulators have also stepped up enforcement. In March, the Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities tied to alleged North Korean IT worker schemes.

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Thus, the contrasting data highlights a widening gap between Pyongyang’s official position and mounting international scrutiny over its alleged role in cyber-enabled financial crimes.

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Token unlocks worth over $229m put HYPE, ENA and RED on watch

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Source: WuBlockchain/X

Crypto markets are set for a busy token unlock period between May 4 and May 11. 

Summary

  • HYPE and ENA lead cliff unlocks this week, adding over $34 million in new supply.
  • RAIN tops linear unlocks with $78.39 million, while Solana adds $38.90 million this week too.
  • SXT, RED and OPN show high supply ratios, raising attention around short-term price moves ahead.

According to Tokenomist data shared by WuBlockchain, large cliff and linear unlocks will release more than $229 million in tokens this week.

These releases include Hyperliquid, Ethena, Space and Time, RedStone, Opinion, Rain, Solana, Corn, TRUMP, Worldcoin and Bittensor. Traders often track unlocks because new supply “could” add short-term selling pressure if demand does not absorb it.

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HYPE and ENA lead cliff unlocks

Hyperliquid will unlock 422,000 HYPE tokens worth about $17.51 million. The release equals 0.11% of adjusted released supply, making it one of the largest cliff unlocks by dollar value this week.

Ethena will also release 171.88 million ENA tokens worth around $17.28 million. The unlock accounts for 2.12% of adjusted released supply. ENA is the governance token of Ethena, the Ethereum-based protocol behind the USDe synthetic dollar.

SXT, RED and OPN add more supply

Space and Time will unlock 387.64 million SXT tokens valued at about $5.96 million. The release represents 23.20% of adjusted released supply, making it the largest unlock by supply ratio among the listed cliff unlocks.

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Source: WuBlockchain/X
Source: WuBlockchain/X

RedStone will release 40.85 million RED tokens worth about $5.54 million. The amount equals 12.20% of adjusted released supply. Opinion will also unlock 32.09 million OPN tokens worth about $5.45 million, equal to 12.22% of adjusted released supply.

Linear unlocks add daily market pressure

Tokenomist data also shows large linear unlocks from May 4 to May 11. Rain leads this group with 10.47 billion RAIN tokens worth $78.39 million, equal to 2.19% of circulating supply.

Solana follows with 464,650 SOL worth about $38.90 million. The release equals only 0.08% of circulating supply, giving it a smaller supply ratio despite its larger dollar value.

Corn will unlock 191.71 million CC tokens worth $28.36 million, equal to 0.50% of circulating supply. TRUMP will release 6.33 million tokens worth $14.75 million, equal to 2.72% of circulating supply.

Worldcoin will unlock 37.23 million WLD tokens worth $9.70 million. Bittensor will release 25,200 TAO tokens worth $7.29 million.

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Ethplorer’s Aleksandr Vat Says Ethereum’s Altseason Already Happened

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Ethplorer’s Aleksandr Vat Says Ethereum’s Altseason Already Happened

At Paris Blockchain Week, BeInCrypto sat down for an exclusive interview with Aleksandr Vat, Head of Business Development at Ethplorer.io, to discuss the company’s new Aggregated Ethereum Rich List.

Ethplorer argues that traditional Ethereum rich lists have become increasingly misleading because they rank wallets by ETH holdings alone. Its new ranking looks at the total USD value held by each address, including ETH, ERC-20 tokens, and stablecoins.

Photo provided by Aleksandr Vat

According to Vat, this changes the picture of Ethereum wealth, liquidity, and risk. It also leads to one of Ethplorer’s more provocative conclusions: altseason may have already happened, but in balance sheets rather than price charts.

Ethereum’s Rich List Has Changed

BeInCrypto: At the conference, you discussed the new Ethereum ranking with the community. What is the Aggregated Ethereum Rich List, and why did Ethplorer build it?

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Aleksandr Vat: Ethplorer rebuilt the Ethereum rich list by ranking addresses not only by ETH, but by total USD value. That includes ETH, ERC-20 tokens, and stablecoins.

The Aggregated Ranking of Ethereum addresses is based on totalBalanceUsd, unlike traditional rankings, which are sorted by ethBalanceUsd. The goal was simple. ETH-only rankings no longer show real economic power on Ethereum.

BeInCrypto: What was fundamentally wrong with traditional ETH-based rankings?

Aleksandr Vat: ETH-only rankings ignore most of the capital. Today, around 66% of value sits outside ETH, mostly in tokens and stablecoins. That means ETH-based lists give a distorted view of who controls liquidity and risk.

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BeInCrypto: What was the biggest insight when you first rebuilt the ranking?

Aleksandr Vat: The biggest change was that the entire hierarchy changed. The same top 10,000 addresses hold almost three times more capital when tokens are included. Many players that were previously almost invisible suddenly become dominant.

Ethereum Is Becoming Entity-Centric

BeInCrypto: Vitalik Buterin envisioned Ethereum as a platform where code manages value. Has that vision been realized?

Aleksandr Vat: Increasingly, it is systems rather than individuals. Smart contracts, exchanges, and liquidity hubs now control a large share of capital. Ethereum has become less whale-centric and more entity-centric.

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What is important is that we can now measure it. In ETH-based rankings, this change was almost invisible. Once we look at aggregated balances, it becomes clear that a large share of capital is already controlled by smart contracts, DeFi protocols, bridges, and liquidity pools. Roughly 28% of total capital is now controlled by these systems.

So this is no longer only a vision. It is an observable structural reality.

“Altseason Already Happened”

BeInCrypto: You say that “altseason already happened.” What do you mean by that?

Aleksandr Vat: Altseason did not disappear. It moved from price charts to balance sheets.

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Through most of 2017–2021, ETH represented the majority of Ethereum’s economic value, while tokens and stablecoins played secondary roles.

That structure has since changed. By 2022–2023, token-denominated balances had matched ETH in economic weight.

In Ethereum’s Aggregated Rating 2026, ETH no longer dominates portfolios. The top 10,000 addresses held about $342 billion in total value at the end of March 2026. Of this amount, $116.5 billion was held in ETH, equal to roughly 34%, while the remaining 66% was denominated in tokens.

BeInCrypto: Why did the market miss this?

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Aleksandr Vat: Because people watch prices, not balance composition. While charts were flat, capital was quietly redistributing across tokens, stablecoins, and smart contracts.

BeInCrypto: Are we looking at a different kind of market cycle now?

Aleksandr Vat: Yes. The market is going from price discovery to power discovery. The key question is less “What is the price?” and more “Who controls liquidity and risk?”

What This Means for Investors and Analysts

BeInCrypto: What does this give investors in practice?

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Aleksandr Vat: It changes how you evaluate risk. Instead of focusing only on price or market cap, you look at what a balance consists of. Is it real external capital, or is it self-issued tokens?

BeInCrypto: How should analysts rethink their approach using this data?

Aleksandr Vat: Analysts need to move from narratives to composition analysis. That means looking at aggregated balances, capital sources, and dependencies, rather than only TVL or token price.

BeInCrypto: Does this change how we should interpret TVL and market cap?

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Aleksandr Vat: Yes. Both metrics can be distorted by self-issued tokens. Without understanding balance composition, you can overestimate real economic strength.

The Printing-Press Index

BeInCrypto: What is the Printing-Press Index, and why did you introduce it?

Aleksandr Vat: The Printing-Press Index, or PPI, measures how much of a portfolio consists of a project’s own token. It helps separate real capital from internally generated value.

The formula is simple:

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PPI equals the USD value of a project’s own tokens divided by the total USD value of tokens held by the project. In other words, it shows the share of a project’s own token in its portfolio.

BeInCrypto: What did PPI reveal about DeFi, centralized exchanges, bridges, and Layer 2 networks?

Aleksandr Vat: DeFi shows significantly higher reliance on self-issued tokens compared with centralized players. On average, it is around twice as high, 14.7% versus 6.9%.

Bridges and Layer 2s show even higher PPI, around 34.8%. Part of this is structural because they often require native tokens for liquidity and staking. But this also transfers risk toward token price dependency.

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BeInCrypto: At what point does PPI become risky?

Aleksandr Vat: Below roughly 20%, it is normal. Above 40% to 50%, the system becomes fragile and exposed to reflexive collapse dynamics.

BeInCrypto: Can you give real-world examples of high PPI risk?

Aleksandr Vat: UST-LUNA is the extreme case. The system was almost entirely backed by its own token, which led to a death spiral.

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FTX is another example. Even around 40% exposure to FTT was enough to trigger collapse under stress. That shows high PPI does not need to be extreme to become dangerous.

ETH Is Still Important, But It Is No Longer the Whole Story

BeInCrypto: Does ETH still represent the core of Ethereum’s economy?

Aleksandr Vat: ETH is still important, but it is no longer the dominant store of value within large portfolios. Only around 34% of top-holder capital is in ETH. The other 66% sits outside ETH, in tokens.

BeInCrypto: What surprised you most in terms of address dynamics?

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Aleksandr Vat: The generational change. Most large addresses in the Aggregated Ranking are significantly newer, which reflects capital entering through DeFi and tokens.

In the ETH top ranking, about one-third of wallets are more than five years old. In the Aggregated Ranking, almost 60% are under two years old.

Aggregated addresses are also about 25% more active. They show larger balance changes and higher volatility because they reflect real liquidity flows, rather than passive ETH holding.

Filtering Out Fake Token Wealth

BeInCrypto: How do you deal with fake or inflated token balances?

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Aleksandr Vat: We apply liquidity filters. That means excluding balances that cannot realistically be sold without moving the market.

Without filtering, low-liquidity tokens can artificially inflate rankings and misrepresent real economic power. In crypto, it is relatively easy to mint a token, assign it a price through thin trading, and create the illusion of large balances.

To address this, we use a set of validation checks. We look at minimum trading activity, both current and historical. We validate market capitalization consistency and assess whether a balance could realistically be liquidated in the market.

The logic is simple. If you cannot realistically sell your full position within about two weeks, that balance does not represent real liquid capital and should not distort the ranking.

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The Beacon Deposit Contract Problem

BeInCrypto: Before this interview, we looked at traditional Ethereum rich lists from well-known platforms. One thing immediately stood out. The Beacon Deposit Contract appears to hold nearly 70% of the Ethereum network. Are we really analyzing the behavior of only the remaining 30% of the market?

Aleksandr Vat: That is exactly the problem with ETH-only rankings. They create a misleading picture.

The Beacon contract is not a real holder. It is a technical deposit registry for staking. The ETH there is not controlled by a single entity and cannot even be withdrawn from that address.

So when it shows up as “70% of the market,” around 83 million ETH, it does not reflect real economic power or market behavior. It is a technical figure.

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If you look at the real picture, active staking is closer to 39 million ETH. When we move to an aggregated view, including liquid tokens and stablecoins, active staking accounts for just over 10% of total ecosystem capital.

So we are not analyzing only 30% of the market. Roughly 10% sits in staking. The other 90% is where the market actually operates, where capital moves, trades, and redistributes across the ecosystem.

Building the Ranking

BeInCrypto: How long did it take to develop this ranking?

Aleksandr Vat: There is no single timeline because this was not built as a standalone project. Ethplorer has spent years processing token-level data, focusing on USD valuation and filtering out low-quality assets.

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At some point, the data quality and coverage reached a level where building a full aggregated ranking became possible. That is when we turned it into a structured product.

BeInCrypto: What was the hardest part?

Aleksandr Vat: Cleaning the data, especially handling spam tokens, price inconsistencies, and entity aggregation.

BeInCrypto: What kind of feedback have you received from the community?

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Aleksandr Vat: Strong interest and debate, especially because the ranking challenges widely accepted assumptions about Ethereum.

BeInCrypto: Have you discussed this with industry players at Paris Blockchain Week?

Aleksandr Vat: Yes, and reactions were mixed, from curiosity to skepticism. That is expected when you introduce a new analytical approach.

Final Takeaway

BeInCrypto: What is the main takeaway from your research?

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Aleksandr Vat: Ethereum’s rich list is no longer about wealth. It is about capital flows and risk distribution.

BeInCrypto: If you had to summarize the change in one sentence?Aleksandr Vat: We went from tracking balances to understanding capital structure.

The post Ethplorer’s Aleksandr Vat Says Ethereum’s Altseason Already Happened appeared first on BeInCrypto.

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Capital B secures $1.28M from Adam Back to build Bitcoin stash

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Capital B secures $1.28M from Adam Back to build Bitcoin stash

Capital B has secured fresh backing from Blockstream CEO Adam Back through a 1.1 million euro ($1.28 million) warrant issuance, deepening the cryptographer’s exposure to the French-listed Bitcoin treasury firm.

Summary

  • Capital B has raised €1.1 million through warrants fully subscribed by Blockstream CEO Adam Back, increasing his stake to 9.97% on a diluted basis.
  • The company said the funds will support its Bitcoin treasury strategy, as shares rose over 6.5% on the announcement despite a 16% decline in 2026.

According to a Monday announcement from Capital B, Back subscribed to 10 million warrants priced at 0.11 euros ($0.13) each, with every warrant granting the right to purchase a new share at an exercise price of 0.84 euros ($0.98). The company said the exercise price aligns with its market net asset value, placing mNAV at 1.1 per share.

Already among the firm’s largest investors, Back’s position expands further through the deal. Capital B said his holdings now exceed 39.5 million shares, representing 9.97% ownership on a fully diluted basis. Back, known for creating Hashcash, contributed one of the proof-of-work systems cited in the Bitcoin white paper.

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Capital raise strengthens Bitcoin accumulation push

Capital B said the proceeds will be directed toward accelerating its Bitcoin treasury strategy, a move that coincided with a positive reaction in its share price. Data from Yahoo Finance shows the company’s stock rose more than 6.5% on Monday following the announcement, although it remains down over 16% since the start of 2026.

Bitcointreasuries.net data places Capital B as the 25th-largest corporate Bitcoin holder, with 2,943 BTC valued at roughly $234 million.

Activity across similar firms has diverged in recent weeks as companies adjust to market conditions. Capital B and UK-based Connecting Excellence Group were the only Bitcoin treasury firms in Europe to raise capital over the past month, according to available disclosures. Connecting Excellence Group raised $794,000 on April 23, also with backing from Back.

Elsewhere, companies have taken a more defensive approach. On April 24, Nasdaq-listed Nakamoto said it had launched an actively managed derivatives program designed to generate income from volatility while hedging downside exposure on its Bitcoin holdings. In a March 30 filing with the U.S. Securities and Exchange Commission, Nakamoto disclosed the sale of 284 BTC, worth about $20 million at the time, making it the largest treasury firm this year to report trimming its holdings.

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Meanwhile, Genius Group said it had liquidated its entire Bitcoin treasury of 84 BTC in February, raising about $5.7 million to repay an $8.5 million debt obligation, according to disclosures submitted to the SEC.

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