Strategy chairman Michael Saylor on Sunday signaled the Bitcoin treasury company would be announcing fresh purchases of the cryptocurrency in the coming days.

The social media post comes just days ahead of a proxy vote that depends in large part on retailer shareholders to enable semi-monthly dividend payouts on the company’s STRC perpetual preferred stock.

“Working Better” was Saylor’s tweet late Sunday morning to accompany a bubble chart tracking Strategy’s Bitcoin (BTC) purchases over the past nearly six years. That chart, from Iceland-registered StrategyTracker.com, has been consistently posted by Saylor in the days ahead of news of a purchase by the biggest publicly traded Bitcoin holder.

To be sure, any purchases to be announced will likely reflect the company bought at or below the average cost of previous BTC purchases. While, the average cost of Strategy’s 843,738 Bitcoin is $75,701 apiece, the biggest cryptocurrency by market cap has lost 3.65% of its value during May and was trading at about $73,566 at the time of publication, according to CoinMarketCap data.

“Working Better” tweet. Source: Michael Saylor

Blockstream CEO Adam Back highlighted on Sunday that BTC’s 200-week moving average has pushed far above the $61,000 mark. That moving average is seen by some technical investors as a signal of a long-term upward price trend.

Related: Strategy situation ‘out of hand,’ says Arca exec on $15B preferred stock burden

Retail investors get pressed to vote on STRC dividend change

Strategy is proposing to pay semi-monthly dividends on STRC, instead of monthly. The company claims that if approved and adopted, it will lead to reduced reinvestment lag, enhanced liquidity, market efficiency and increased price stability.

Just days ahead of the June 7 proxy vote deadline, Saylor and Strategy are making a full press to get retail shareholders to return their proxy votes. On an internal company channel, Strategy’s investor relations team posted a message to all employees concerning the company’s 2026 annual meeting and provided links to the proposals under consideration by shareholders.

Part of message to Strategy employees from internal website. Source: Company filing on Edgar

“The amendment for STRC to pay semi-monthly dividends, needs 50% of all 85M shares outstanding as of April 17, 2026, to pass, which means every single vote counts,” read a May 28 post on Strategy’s verified feed on X.com.

CEO Phong Le posted a video a day earlier thanking STRC shareholders for their trust. “I wanted to personally walk you through the proposed amendment and what it means for you,” he said as an introduction to the minute-and-a-half video.

Retail investors have shown limited interest in casting proxy votes. A November research note from The Harvard Law School Forum on Corporate Governance revealed data that showed retail investors have consistently voted only about 29% of their owned shares during the past five proxy voting seasons. Institutional holders have voted about 77%.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026

A $1.26 billion block sale of BlackRock’s iShares Bitcoin Trust (IBIT) this week might have been driven by a large investor seeking a rapid exit from bitcoin exposure rather than the unwinding of a common hedge-fund trading strategy.

That’s according to an analysis published by crypto investment firm NYDIG.

The transaction took place on May 26, when 29.21 million IBIT shares changed hands off-exchange at $43.16 per share. The trade was executed at a $1.01 discount to IBIT’s market price of $44.17 at the time, representing a 2.3% concession and roughly $29.5 million in execution costs.

NYDIG said the size of the discount suggests the seller prioritized certainty and speed over maximizing price. The trade was reported through the FINRA/Nasdaq TRF Carteret facility, which is commonly used for privately negotiated off-exchange transactions.

Some market participants had speculated the block could have been tied to a bitcoin basis trade, in which investors hold spot bitcoin exposure while shorting futures contracts.

NYDIG rejected that explanation, arguing that the discount would have significantly reduced the strategy’s expected returns.

The firm also pointed to activity in CME bitcoin futures. The IBIT position represented exposure equivalent to roughly 3,700 CME bitcoin futures contracts.

Yet only 91 contracts traded during the minute in which the block was executed, with no unusual spike in futures volume.

“The size of the trade, the 2.3% execution discount, the absence of corresponding CME futures activity, and the limited universe of potential sellers collectively weigh against the view that the transaction represented a contemporaneous basis-trade unwind,” NYDIG’s global head of research, Greg Cipolaro, wrote.

The sale came as U.S. spot bitcoin ETFs see sustained outflows. According to SoSoValue data, the funds recorded daily net outflows on every trading day from May 15 through May 29. Total assets across the category fell from $107.75 billion on May 14 to $94.17 billion by May 29. Meanwhile, the bitcoin price fell 16% this year, while most other assets, such as equities and commodities, have surged as capital continues to flow out of crypto.

Read more: Bitcoin drops to 13th largest asset as capital flees to AI and precious metals

Difficult to identify

While IBIT recorded about $720 million in net redemptions across May 26 and May 27, NYDIG said ETF flow data cannot be used to directly identify the seller or link specific redemptions to the block transaction.

NYDIG noted that the position exceeded the reported holdings of every disclosed IBIT investor in recent 13F filings, making identification difficult.

The firm said public data cannot determine whether the sale was driven by investor redemptions, risk-management constraints or a discretionary decision to reduce bitcoin exposure.

Still, NYDIG said the transaction stands out because a large holder chose to accept a significant discount to exit a bitcoin-linked position worth more than $1 billion during a period of persistent outflows and as the price of bitcoin remains below $80,000.

TLDR:

• Solana captured 97% of cumulative tokenized equities spot trading volume, setting a new market record this week.
• SoFi launched the first stablecoin from a U.S. nationally chartered bank, SoFiUSD, natively on Solana.
• Cash App rolled out USDC support on Solana, opening stablecoin access to millions of everyday retail users.
• Mayan bridged over one million external wallets and moved $2.5 billion in stablecoins across Solana this week.

Solana recorded a busy week of launches, integrations, and milestones across payments, tokenized assets, and developer infrastructure.

Major financial institutions and consumer apps moved onto the network. Stablecoin support expanded through platforms familiar to everyday users.

Tokenized equities trading on Solana also reached a new record. The week’s activity covered traditional finance, decentralized lending, privacy tools, and educational initiatives, reflecting broad momentum across the ecosystem.

Institutional Finance Finds a Home on Solana

SoFi launched SoFiUSD, marking a notable moment for the network. It became the first stablecoin issued by a U.S. nationally chartered bank on Solana. This move signals growing confidence from regulated financial institutions in the chain’s infrastructure.

Cash App also rolled out stablecoin support during the week, including USDC on Solana. The integration brings Solana-based payments to a widely used consumer application. Millions of everyday users now have a path to interact with Solana-based assets.

Solana also captured 97% of cumulative tokenized equities spot trading volume. Onchain tokenized stock holders surpassed 200,000, setting a new record high. These numbers reflect strong institutional and retail demand for regulated assets on the network.

New Protocols and Platforms Expand Solana’s Utility

Jupiter Exchange opened the public beta of its Offerbook during the week. The platform is a fixed-rate credit tool that supports borrowing against tokens, NFTs, and trading cards. It adds a structured lending layer to Solana’s growing DeFi ecosystem.

Streamex and Orca also launched 24/7 onchain secondary liquidity for tokenized securities. This addresses a long-standing gap in regulated asset trading on public blockchains. WalletConnect further added Solana compatibility to its Pay feature for merchant stablecoin spending.

Exponent Finance activated Exponent v2, which introduced strategy vaults and risk-tranching swaps. ONRefinance expanded fixed-rate infrastructure through integrations with Exponent and Loopscale. These releases together push Solana’s fixed-rate and structured finance capabilities further forward.

Ecosystem Growth Reaches Across Education, Privacy, and Infrastructure

Solana Foundation joined the Open Transaction Layer as a founding partner. The initiative focuses on developing cross-chain standards across the broader blockchain industry. AlmaU also signed an MOU to bring Solana blockchain development into its academic curriculum.

SheFinance partnered with Solana to launch its largest educational cohort to date. This effort aims to onboard more participants into Web3 through structured learning. Alongside this, Umbra Privacy launched its wallet app on the iOS App Store.

Mayan crossed one million external wallets bridged to Solana during the week. The protocol also moved over $2.5 billion in stablecoins across more than 600,000 transactions. Solstice Finance surpassed $500 million in total value locked, adding another milestone to the week’s record.

TLDR:

• Binance holds 85.1M LINK worth $766M, representing 66.4% of all exchange-held supply across platforms.
• LINK exchange reserves have declined from a 2022 peak of 145M tokens to roughly 85M, following a descending channel.
• Spot LINK ETFs recorded $8.29M in May net inflows, their weakest monthly figure since launching in late 2024.
• Spot LINK ETF products have never recorded a single day of net outflows and hold 1.69% of total supply.
  

Chainlink’s exchange supply is growing more concentrated, with Binance now holding the majority of LINK available across all trading venues.

On-chain data shows 85.1 million LINK tokens sitting on Binance alone, valued at roughly $766 million. That figure represents 66.4% of the 128.26 million LINK held across all exchanges combined.

Meanwhile, spot LINK ETFs continue attracting capital, though May marked their weakest month since launch.

Binance Controls the Venue-Level Supply Tone for LINK

Binance’s dominance over LINK exchange reserves means its netflow activity shapes broader market perception. When extreme deposit or withdrawal days occur, they reflect Binance-specific behavior rather than a market-wide shift. This distinction matters for anyone reading on-chain signals as indicators of sentiment.

Reserve data since 2022 tells a consistent story. LINK holdings on exchanges peaked near 145 million tokens and have since followed a descending channel.

Source: Cryptoquant

Today, reserves sit near the lower band of that range at around 85 million tokens. That structural decline reflects a multi-year trend of coins moving off exchanges.

Short-term spikes in reserves appear periodically but do not alter the overall direction. These bursts are temporary in nature and tend to reverse quickly. The broader pattern remains one of steady outflows over time, not accumulation building on platforms.

Netflow data adds further context to those spikes. Positive inflow events often align with periods of elevated price volatility.

Rather than signaling fresh buying, these deposits have more frequently preceded weaker closes over the following one to three days.

Spot LINK ETF Inflows Slow but Remain Positive in May

Turning to ETF markets, spot LINK products recorded $8.29 million in net inflows during May. According to a post from BSCNews on X, this marks the weakest monthly performance since the products launched late last year. However, the products have yet to record a single day of net outflows since inception.

Spot LINK ETFs currently hold 1.69% of the asset’s total circulating supply. That level of institutional custody, while modest, represents steady structural demand building outside of exchange order books. It also removes supply from immediate sell-side availability.

The slowdown in May inflows reflects caution rather than outright rejection. Inflow figures are still positive on a monthly basis, which keeps the streak of net-positive months intact. The trend, though, is worth monitoring as market appetite for altcoin ETF products continues to be tested.

Taken together, both the on-chain reserve data and ETF flow figures point to a market where LINK supply is gradually moving toward longer-term custody.

Whether that continues depends on broader market conditions and sustained demand from institutional channels.

TLDR:

• BTC trades near $74K, leaving a CME gap at $73.4K–$73.5K.
• Liquidation heatmap shows dense leverage near $78K–$79K, while downside liquidity thins below $72K
• Market structure shows higher lows but stretched momentum as BTC holds near the $74K consolidation zone
• Weekend liquidity shows CME gap attraction below, while Binance heatmap flags upside liquidity imbalance

Bitcoin stands at a critical crossroads as traders weigh two powerful liquidity magnets. A lingering CME gap near $73,400 is pulling attention lower, while an enormous liquidation cluster around $78,000 is building pressure above. The two are setting the stage for a potentially volatile week ahead.

CME Gap Formation and Spot Price Divergence

A CME gap is recorded around the $73.4K to $73.5K range, forming a liquidity pocket that traders monitor closely. Bitcoin CME gap liquidation heatmap conditions note that price often revisits such inefficiencies over time.

The current structure shows higher lows forming, yet the price remains stretched above the unfilled futures discontinuity zone.

Momentum continues to build while liquidity distance from the CME gap expands across intraday trading sessions.

Traders referencing Bitcoin CME gap liquidation heatmap data observe that extended deviations often precede corrective rotations. Weekend conditions amplify attention on gaps due to reduced liquidity and thinner order book participation.

This environment increases sensitivity to CME gap narratives as traders position for early-week volatility. Liquidity models indicate that gaps act as reference zones where price discovery temporarily stabilises.

In this case, the Bitcoin CME gap liquidation heatmap reinforces the probability of revisit scenarios. Order flow data across futures markets suggests that unfilled gaps near $73K continue to influence short-term positioning.

Especially as leveraged traders reopen conditions and liquidity providers rebalance order books across major exchanges into early weekly volatility phases ahead of market open.

Binance Liquidation Heatmap and Upper Liquidity Wall

Binance liquidation heatmap data aligned with Bitcoin CME gap liquidation heatmap shows concentrated liquidity forming above current price levels.

A dense liquidation cluster is positioned near $78K to $79K, representing the largest visible leverage zone on the chart.

This zone remains unfilled while lower liquidity regions have already been partially cleared during recent selloffs. Analysts have noted that the Bitcoin CME gap liquidation heatmap upper cluster is a potential magnet.

Liquidation mechanics suggest that upward moves into dense short positioning can trigger cascading forced closures. Such movements often accelerate momentum as automated liquidations add buy pressure to the market.

The  framework indicates asymmetry between unfilled upside and reduced downside liquidity. Downside liquidity below $72K has already been significantly absorbed in prior trading sessions.

This leaves the upper zone as the primary unresolved liquidity concentration in the current structure. Traders spot momentum aligns with futures positioning, and market makers seek efficient execution pathways across exchange order books. Some traders are anticipating potential breakout continuation scenarios next week.