Bitcoin Exceeds $110,000
Bitcoin (BTC) has exceeded $110,000. As of 10:09 PM, Bitcoin is trading at $110,139 on the Binance USDT market, up 0.37% from 24 hours ago.
May 27General
All Articles 3,202
Tether CEO: "We Are a Pro-American Company... Invested $5 Billion Over Two Years"
The CEO of Tether (USDT), the world's largest dollar-based stablecoin issuer, emphasized that Tether is a pro-American company. On the 27th (local time), Paolo Ardoino, Tether CEO, stated on X (formerly Twitter), "In the past two years, Tether has reinvested approximately $5 billion in the US economy and American companies," adding, "We are investing in various companies from the video platform Rumble (RUM) to the healthcare company Blackrock Neurotech." Previously, Tether invested $775 million and $200 million in Rumble and Blackrock Neurotech, respectively. This is seen as an effort by Tether to emphasize its pro-American stance ahead of US stablecoin regulations. The cryptocurrency-focused media outlet Cryptopolitan reported, "With the US stablecoin regulatory bill approaching, foreign issuers like Tether are likely to face more scrutiny," adding, "He is emphasizing how much Tether aligns with American interests." Meanwhile, Tether, headquartered in El Salvador, has had several regulatory conflicts with US state and federal authorities.
May 27General21Shares Submits Sui Spot ETF 19b-4 Filing
21Shares has submitted a 19b-4 filing for a Sui (SUI) spot exchange-traded fund (ETF). According to Cointelegraph on the 27th (local time), 21Shares submitted the exchange rule change filing to the U.S. Securities and Exchange Commission (SEC) for a Nasdaq listing. Custody will be handled by BitGo and Coinbase Custody. Previously, on the 1st (local time), 21Shares had submitted an S-1 application for a Sui spot ETF to the SEC.
May 27GeneralUS-listed 'SharpLink Gaming' to Strategically Stockpile Ethereum
Nasdaq-listed online technology company SharpLink Gaming (SBET) is set to strategically stockpile Ethereum (ETH). According to GlobeNewswire on the 27th (local time), SharpLink Gaming announced in a press release, "We are pursuing a $425 million private placement for strategic Ethereum stockpiling," and "Ethereum will become a major financial asset for our company in the future." Rob Phythian, CEO of SharpLink, expressed his anticipation, stating, "This announcement is a very important milestone in expanding SharpLink's business."
May 27GeneralWhite House National Economic Council Chair: "Tariffs Could Be Below 10% for Some Countries"
The White House National Economic Council Chair stated that tariffs for some countries could be reduced to below 10%. According to Walter Bloomberg on the 27th (local time), Kevin Hassett, Chair of the White House National Economic Council, said, "There could be some announcements related to (tariff) negotiations this week," and "For some countries, tariffs could be reduced to below 10%." He added, "Lower tariffs will be granted to countries that make good offers." Additionally, he reported that "the deal with India has also reached the final stages of negotiation."
May 27PiCK"Ethereum, Potential Surge in Sell Orders if Price Drops"
An analysis has emerged suggesting that even a slight drop in Ethereum (ETH) prices could lead to a surge in sell orders. On the 27th (local time), Glassnode stated on X (formerly Twitter) that "$123 billion worth of Ethereum is currently in the 0-20% profit range compared to the purchase price," indicating that "a large volume of sell orders could emerge with even a slight price drop." They added, "Despite the recent market uptrend, Ethereum is in a vulnerable position to price drops." As of 9:04 PM, Ethereum is trading at $2,647 on the Binance USDT market, up 3.21% from 24 hours ago.
May 27GeneralCircle Files for IPO on New York Stock Exchange
Circle, the issuer of the dollar-based stablecoin USD Coin (USDC), has filed for an Initial Public Offering (IPO) on the New York Stock Exchange (NYSE). Circle submitted an S-1 registration statement for the IPO to the U.S. Securities and Exchange Commission (SEC) last April. According to CoinDesk on the 27th (local time), Circle has applied for an IPO on the New York Stock Exchange. JP Morgan, Citigroup, and Goldman Sachs are participating as joint underwriters. Circle's ticker is CRCL, and the offering price is expected to be between $24 and $26 per share. The company plans to offer 24 million shares of Class A stock, of which 9.6 million shares will be offered directly by Circle, and the remaining 14.4 million shares will be offered by selling shareholders. Meanwhile, there were reports that Circle was in private negotiations for a corporate acquisition with Ripple and Coinbase. In response, Circle stated, "We are not considering a sale. There is no change in Circle's long-term goals."
May 27General"Meme Coins Drive Mass Adoption of Cryptocurrencies"
An analysis has emerged that meme coins are driving the mass adoption of the cryptocurrency industry. According to Decrypt on the 27th (local time), Gemini recently reported that "meme coins are serving as a gateway for new cryptocurrency investors," stating that "31% of cryptocurrency investors in the US, Australia, and the UK started investing with meme coins." Furthermore, "94% of current meme coin holders also own Bitcoin (BTC) and other cryptocurrencies," explaining that "this indicates that meme coins have a positive impact on investments in other cryptocurrencies." Saad Ahmed, head of Gemini Asia-Pacific, said, "Meme coins are a powerful gateway to cryptocurrencies," adding that "the ease of participation is positively appealing to new investors."
May 27GeneralSC "Solana Expected to Underperform Ethereum in the Short Term... Ultimately Heading to $500"
Solana (SOL) is likely to underperform Ethereum (ETH) in the short term, but it could rise to $500 in the long term, according to an analysis. On the 27th (local time), The Block reported that Standard Chartered stated in a report, "Solana may show lower performance compared to Ethereum in the short term," adding, "This is because the current growth of the Solana network relies on meme coin trading." It continued, "Meme coins have already peaked. The next 2-3 years could be a transitional period for Solana," evaluating that short-term growth momentum is weak. However, the long-term outlook for Solana was assessed positively. The report stated, "Solana has strengths such as low fees and high TPS (transactions per second)," and analyzed, "As sectors like financial applications, social platforms, and decentralized physical infrastructure networks (DePIN) grow, it will establish itself as a major network." It further projected, "Solana will reach $275 by the end of this year and $500 by the end of 2029." As of 8:18 PM, Solana is trading at $175 on the Binance USDT market, down 0.65% from 24 hours ago.
May 27PiCKMetaplanet Stock Overvalued… Bitcoin Premium Approaches 447%
An analysis has emerged that the stock of Metaplanet, regarded as a strategy in Japan, is overvalued. According to Crypto News on the 27th (local time), 10X Research reported in a report that "Metaplanet's stock has a premium of 447% compared to its Bitcoin holdings," warning that "it is equivalent to paying $596,154 per Bitcoin." It added, "Caution is advised for general investors." Currently, Metaplanet is trading at 1,116 yen per share. However, it has shown an overheated state compared to its Bitcoin holdings, rising 200% this month alone and a staggering 400% over the past six months. Metaplanet holds 7,800 BTC, worth approximately $850 million. Meanwhile, according to data released by Hedge Fund Club on April 4, Metaplanet ranked first in Japan for the most shorted stocks.
May 27PiCK"Bitcoin Speculative Fever... Short-term Correction Likely"
An analysis has emerged that the speculative buying pressure on Bitcoin (BTC) has intensified, increasing the likelihood of a short-term correction. On the 27th (local time), on-chain analyst Willy Woo stated on X (formerly Twitter), "The speculative sentiment towards Bitcoin is extremely overheated," and "The likelihood of a short-term correction is increasing." He added, "Considering the SOPR (Spent Output Profit Ratio) indicator, the probability of investors realizing profits is also high." Furthermore, he mentioned, "The network's fund inflow has decreased over the past three days," and "If Bitcoin does not reach a new all-time high soon, a bearish divergence may form, leading to a short-term correction." As of 7:06 PM, Bitcoin is trading at $109,813 on the Binance USDT market, up 0.05% from 24 hours ago.
May 27General"Past Patterns and Whale Purchases Raise Expectations for Ethereum; Could Surpass $2680"
Considering the past price trends of Ethereum (ETH), an analysis suggests it could surpass $2680. On the 27th (local time), AMB Crypto stated, "Historically, Ethereum tends to be bullish in the second quarter," adding, "The Pectra upgrade also supports Ethereum's rise." They further noted, "Ethereum could surpass $2680." Attention was also drawn to whale purchases and technical indicators. The media reported, "An Ethereum whale purchased as much as 75.39 million ETH the previous day. This whale has historically made large purchases just before Ethereum's sharp rises," and evaluated, "It is having a positive impact on the community's Ethereum sentiment." Additionally, "Currently, Ethereum has broken through the $2550 resistance line, showing an influx of buying pressure," and explained, "The Relative Strength Index (RSI) is also gradually rising, reflecting increased investor interest." As of 6:51 PM, Ethereum is trading at $2635 on the Binance USDT market, up 2.95% from 24 hours ago.
May 27GeneralHyperLiquid Whale Expands 40x Long Position in Bitcoin
James Wynn, known as a whale on the decentralized futures exchange (DEX) HyperLiquid (HYPE), is reportedly increasing his 40x long position in Bitcoin (BTC). On the 28th (local time), Lookonchain revealed on X (formerly Twitter) that "James Wynn continues to expand his 40x long position in Bitcoin," adding, "The current position size is approximately 5676 BTC (about $622.6 million)." It further stated, "His liquidation price is $108,010," and "A mere 1.53% drop would trigger liquidation." As of 6:27 PM, Bitcoin is trading at $109,531 on the Binance USDT market, down 0.39% from 24 hours ago.
May 27GeneralThe Democratic Party Leaves Listing and Delisting Authority to Exchange Autonomy
The Democratic Party is pushing for a plan to leave the authority for listing and delisting virtual assets (cryptocurrencies) to the autonomy of private exchanges such as Upbit and Bithumb. According to industry sources on the 27th (local time), Min Byung-deok, chairman of the Digital Assets Committee under the Democratic Party's election campaign headquarters, is expected to push for a plan to leave the authority for listing and delisting to the autonomy of domestic private exchanges through the introduction of the Digital Assets Basic Act as early as this week. Previously, a plan to establish a Listing Review Committee under the separate self-regulatory organization 'Korea Digital Asset Industry Association (tentative name)' to unify listing authority was discussed, but after gathering opinions, the direction was changed to leave the listing authority to exchange autonomy. Instead, a plan to ensure transparency in the listing standards and procedures of private exchanges will be prepared. Meanwhile, the Digital Assets Basic Act is a second-stage industry law that complements the Virtual Asset User Protection Act implemented last year, encompassing various regulatory frameworks such as the definition, issuance, and distribution of virtual assets.
May 27PiCKDemocratic Party Pushes to Establish 'Digital Asset Exchange' in Local Hubs
The Democratic Party of Korea is pushing to establish a 'Korea Digital Asset Exchange' headquartered in major local cities. According to political circles on the 27th, the Democratic Party's election committee has recently begun discussions on establishing a digital asset exchange with such plans. It is reported that the exchange is being considered to operate through a consortium formed by local governments, commercial financial institutions, and global virtual asset exchanges, each holding shares. While existing private virtual asset exchanges have focused on coin trading, the exchange envisioned by the Democratic Party aims to expand the scope of trading while achieving policy objectives such as creating youth jobs. The development of the virtual asset industry, including the Korean won stablecoin, is one of the key pledges of Lee Jae-myung, the Democratic Party's presidential candidate. As Lee views virtual assets as a future growth industry, it is expected that, if elected, he will implement policies swiftly through a presidential committee.
May 27PiCK"Bitcoin's Upward Trend Expected to Prevail…Focus on Highly Correlated Coins"
As Bitcoin (BTC) is expected to continue its upward trend, there is a claim that attention should be paid to coins with high correlation. On the 27th (local time), CryptoQuant analyst Carmelo Alemán stated in a report, "Bitcoin is in a bullish cycle. This cycle is likely to continue until November this year," and "Investors should focus on virtual assets with high correlation to Bitcoin." These assets have smaller market caps than Bitcoin, which means they can realize much larger profits when Bitcoin rises. He cited TRON (TRX), Sui (SUI), Cardano (ADA), Stellar Lumen (XLM), Hedera (HBAR), and Litecoin (LTC) as representative assets. He particularly focused on TRON. Alemán said, "Among them, TRON has maintained a clear upward trend over the past few months," and "The issuance of Tether (USDT) based on TRON has surpassed Ethereum (ETH), and usage in the Asian region is rapidly increasing." He continued, "TRON's network activity is surging," and "It has the potential to significantly increase in value along with Bitcoin's rise." As of 5:48 PM, TRON is trading at $0.2778 on the Binance USDT market, up 2.09% from 24 hours ago.
May 27PiCK"Increase in Bitcoin Selling Pressure... 7-Week Rally May End"
Bitcoin (BTC) has been on a 7-week rally, but there is analysis suggesting a short-term correction may occur. On the 27th (local time), BeInCrypto reported that "whale investors are moving to realize profits on Bitcoin," and "Bitcoin's 7-week rally may end." It continued, "According to Glassnode data, the accumulation score of wallets holding more than 10,000 BTC has plummeted from 0.8 to 0.5," adding that "wallets holding between 1 BTC and 10,000 BTC are also showing increased selling activity." Furthermore, UTXO (Unspent Transaction Output) also indicates a correction. The media stated, "Currently, 99% of UTXOs are in a profit state. This suggests the market is overheated," explaining that "the possibility of a short-term correction in Bitcoin is increasing." However, it added that the long-term potential for Bitcoin's rise remains due to increased institutional demand and buying pressure from global companies. Juan Leon, a Bitwise analyst, also predicted a long-term rise, stating, "Within the next 18 months, Bitcoin will establish itself as a global store of value."
May 27General7883 Bitcoins Withdrawn from Coinbase the Previous Day…"Indicating Institutional Purchase"
The previous day, 7883 Bitcoins (BTC) were withdrawn from the U.S. cryptocurrency exchange Coinbase. This is analyzed to be due to institutional Bitcoin accumulation activities. On the 27th (local time), burakkesmeci, a contributor to CryptoQuant, reported that "7883 BTC were withdrawn from Coinbase the previous day. This is the third-largest amount in the past month," and "This indicates institutional and Bitcoin spot Exchange-Traded Fund (ETF) accumulation." He further stated, "In the past, when large-scale withdrawals occurred from Coinbase, the inflow of Bitcoin ETFs increased significantly," and "The Coinbase premium, which has remained positive for a month, also supports the increase in institutional demand." As of 5:24 PM, Bitcoin is trading at $109,674, down 0.25% from 24 hours ago, based on the Binance USDT market.
May 27GeneralThailand to Launch Pilot Program for Cryptocurrency Payments for Tourists
The Thai government plans to launch a pilot program for cryptocurrency payments targeting tourists. According to Cointelegraph on the 27th (local time), Thailand's Finance Minister, Pichai Chunhavajira, announced that "Thailand plans to conduct a pilot program for cryptocurrency payments targeting tourists." The pilot program will allow tourists to link their cryptocurrencies with credit cards for use. It is planned to be fully implemented after the completion of core infrastructure and regulatory reviews. Additionally, Pichai expressed his intention to reform cryptocurrency-related legislation. He stated, "Currently, Thailand's traditional financial market and cryptocurrency market are governed by separate laws. We need to integrate them to establish a consistent legal framework."
May 27General[Analysis] "Large-scale Tether Issuance Continues... Suggesting Increased Market Liquidity"
A large amount of Tether (USDT) has been issued on the TRON (TRX) network, suggesting that liquidity in the cryptocurrency market could increase. On the 27th (local time), Joao Wedson, an analyst at CryptoQuant, reported that "a large-scale issuance of USDT has been detected on the TRON network," indicating that capital is entering the cryptocurrency ecosystem. He further added, "An increase in liquidity across the cryptocurrency market is expected." As of 5:06 PM, TRON is trading at $0.2767 on the Binance USDT market, up 1.77% from 24 hours ago.
May 27PiCKFrench Listed 'The Blockchain Group (ALTBG)' to Purchase 590BTC
The French listed blockchain group 'The Blockchain Group (ALTBG)' is set to purchase an additional 590BTC. On the 27th (local time), Satoshi Club announced on X (formerly Twitter) that "The Blockchain Group plans to purchase an additional 590BTC using funds (72 million dollars) raised from bond sales," adding that "based on the current Bitcoin price, up to 658BTC can be purchased." The Blockchain Group has previously stated its intention to secure 1% of the total Bitcoin supply (21 million) over the next 8 years.
May 27GeneralBitcoin Optimism Grows... "Investors Should Be Cautious"
Optimism about the rise in Bitcoin (BTC) prices is growing, and it has been analyzed that investors need to be cautious. On the 27th (local time), Matrixport stated in a report, "The call-put skew of Bitcoin has recently fallen to -10%, indicating a significant increase in bullish call option betting, and the market is filled with extreme optimism." It further added, "Such extreme bullish sentiment can lead to short-term corrections," advising investors to reduce risks and observe cautiously. As of 4:31 PM, Bitcoin is trading at $109,321, down 0.54% from 24 hours ago, based on the Binance USDT market.
May 27GeneralAdam Back Invests $1.5 Million in Swedish Bitcoin Reserve Company
Adam Back, CEO of Blockstream, has invested approximately $1.5 million in the Swedish health company 'H100 Group'. 'H100 Group' is Sweden's first Bitcoin (BTC) reserve company. According to Coinpedia on the 26th (local time), CEO Adam Back invested $1.5 million in H100 Group, which has adopted a Bitcoin reserve strategy. As a result, H100 Group successfully completed a $2.2 million convertible bond round, increasing the likelihood of additional Bitcoin purchases. Sander Andersen, CEO of H100 Group, said, "Bitcoin is not just a hedge. It is an asset that aligns with the philosophy of autonomy, decentralization, and transparency that drives the AI-based digital health ecosystem." Meanwhile, on the 22nd (local time), H100 Group purchased 4.39 BTC.
May 27General"High Possibility of Early Implementation of Virtual Asset Taxation After Presidential Election… Positive Outlook for ETF Introduction"
An analysis has emerged suggesting a high possibility of early implementation of domestic virtual asset (cryptocurrency) taxation after the presidential election. On the 27th (local time), Tiger Research forecasted changes in the Korean virtual asset (cryptocurrency) industry after June 3rd (local time) through the report 'Four Changes the Korean Presidential Election Will Bring to the Global Web3 Market'. These changes include △the end of tax deferral △introduction of virtual asset exchange-traded funds (ETFs) △change in the '1 Exchange-1 Bank' system △launch of a Korean won stablecoin. Particularly, the analysis related to virtual asset taxation drew attention. The domestic virtual asset taxation bill, which imposes a 20% tax (22% including local tax) on annual virtual asset income exceeding 2.5 million KRW, is currently deferred until 2027. However, Tiger Research assessed a high possibility of early implementation of domestic virtual asset taxation. Tiger Research stated, "According to the 'Corporate Virtual Asset Market Participation Roadmap', corporate participation in virtual asset investment is expected. A reorganization of the tax system will be inevitable," adding, "The government is likely to cancel the deferral through additional legal amendments and advance the taxation timeline." According to the roadmap, virtual asset investments by listed companies and professional investors will be allowed from the second half of this year. Therefore, it is explained that extending the tax deferral for corporate virtual asset income again would be challenging. The report also mentioned the positions of both parties on taxation. Previously, the Democratic Party advocated raising the deduction limit to 50 million KRW instead of deferring virtual asset taxation. The report stated, "The Democratic Party ultimately agreed to the deferral during the virtual asset taxation controversy," adding, "Depending on the election results, the direction of the taxation policy could change to raising the deduction limit again." However, considering foreign cases, it is expected that the implementation of the taxation policy will negatively impact domestic virtual asset trading volume. In the cases of India and Indonesia, where virtual asset taxation was implemented, trading volumes plummeted by 10% to as much as 70%. The report analyzed, "Korea does not impose excessive taxes like those countries," but added, "There is a possibility of a decrease in trading volume by about 20%, and funds may flow out to overseas exchanges." The possibility of introducing virtual asset ETFs is also expected to increase. The report stated, "Virtual asset ETFs are the only pledge commonly supported by multiple parties," adding, "Substantial discussions are expected to take place soon." It further explained, "If a spot ETF is introduced, a fee competition with existing exchanges will begin," adding, "This could lead to improved service quality for virtual asset users." Furthermore, it predicted that various virtual asset financial products could be developed starting with ETFs. Regarding the change in the '1 Exchange-1 Bank' system, it was evaluated that the People's Power is leaning towards abolishing the principle, while the Democratic Party is becoming more cautious, indicating long-term discussions. However, the report argued, "The claim that the '1 Exchange-1 Bank' principle is effective in preventing monopolies lacks persuasiveness," adding, "Changing this system could provide greater benefits to virtual asset users." Regarding the Korean won stablecoin, it stated, "Although immediate implementation after the presidential election is unlikely, continuous discussions in the political sphere will take place," adding, "Since legal and institutional arrangements are essential before actual introduction, there will be no rapid policy changes."
May 27GeneralTrump Family Business Raises $3 Billion for Bitcoin Purchase?…"Baseless"
Donald Trump's family-owned Trump Media & Technology Group (TMTG) reportedly plans to invest up to $3 billion (approximately 4.108 trillion KRW) in purchasing cryptocurrencies like Bitcoin. However, an official statement has declared this claim as baseless. According to Cointelegraph on the 26th (local time), Trump Media & Technology Group stated that the Financial Times (FT) report on their $3 billion investment in cryptocurrencies is "baseless." They further criticized, saying, "The journalists who wrote the article are stupid. The sources they relied on are even stupider." Previously, the Financial Times reported, citing informed sources, that Trump Media planned to raise funds for cryptocurrency investment through the issuance of $2 billion in new shares and $1 billion in convertible bonds.
May 27PiCKFormer CFTC Chairman Becomes Advisor to Crypto Bank 'Sygnum'
The former chairman of the U.S. Commodity Futures Trading Commission (CFTC) has joined the crypto (cryptocurrency) bank Sygnum. According to Cointelegraph on the 27th (local time), former CFTC Chairman Christopher Giancarlo has joined Sygnum Bank as an advisor. He will provide advice on regulation and strategic partnerships in the public and private sectors of crypto assets. Giancarlo assessed that "now is a crucial turning point for institutional adoption in the crypto asset industry." Meanwhile, Giancarlo, who served as the CFTC chairman from 2017 to 2019, has shown a consistently pro-crypto stance, earning him the nickname 'Crypto Dad.'
May 27GeneralAlpaca Finance Announces "Severe Financial Distress... Ceasing Operations"
Alpaca Finance (ALPACA) has announced that it will cease operations due to financial difficulties./ On the 26th (local time), Alpaca Finance stated through Medium, "Due to the decrease in Total Value Locked (TVL) and yields, we have been in deficit for over two years. We have now reached our limit," and "We have decided to gradually shut down Alpaca Finance and all products." They continued, "Starting from the first week of next month, all new services for farms (yield farming pools) will be halted," and "Please close your positions as soon as possible, and we will keep the front end operational to allow asset withdrawals until December 31 of this year." They emphasized that this was an unavoidable decision. The foundation explained, "To overcome financial difficulties, we launched various products such as Automated Vaults, the stablecoin AUSD, and the decentralized perpetual futures exchange Alperp," but "the decline in fees and user activity due to the market downturn became a problem." They added, "There were also discussions about mergers and acquisitions (M&A), but all opportunities were lost due to the downturn earlier this year." Additionally, they expressed gratitude to community users. Alpaca stated, "The journey so far was possible thanks to the incredible support of the community," and "We thank all users who believed in and used us during both good and difficult times."
May 26GeneralYZi Labs Announces Investment in Avalon Labs
YZi Labs (formerly Binance Labs) has announced an investment in Avalon Labs (AVL), the issuer of the Bitcoin (BTC)-based stablecoin USDa. On the 26th (local time), YZi Labs stated on X (formerly Twitter), "Avalon Labs is transforming Bitcoin from a passive store of value into a dynamic financial asset," and "We have invested in Avalon Labs." Avalon Labs plans to use the investment for securing licenses and establishing public funds. Meanwhile, the specific size of the investment has not been disclosed.
May 26GeneralHyperLiquid Hits All-Time High... "Outlook Positive"
The native token HYPE of the decentralized futures exchange (DEX) HyperLiquid has reached an all-time high (ATH), and on-chain indicators are also continuing to hit record highs. On the 26th (local time), Cryptopolitan reported, "HyperLiquid's native token HYPE has reached an all-time high of $39.92 according to CoinMarketCap," adding, "This is due to HyperLiquid's growth trend. Various indicators are also hitting record highs." Firstly, HyperLiquid's open interest (OI) and daily fees have each recorded $10.1 billion and $5.6 million, reaching all-time highs. Additionally, the total value locked (TVL) in USD Coin (USDC) has surged to $3.5 billion, and the number of daily active wallets has also surpassed 18,000, setting a new record. Furthermore, the future price outlook is also evaluated as positive. The media stated, "As famous whales like James Wynn and Machi Big Brother have made millions of dollars in profits through HyperLiquid, more traders are starting to pay attention to the platform," adding, "The recent buying spree of tokens by whales is also a major factor influencing the price increase." According to Lookonchain data, 8 whales have accumulated 930,000 HYPE ($33 million) over the past three days. Additionally, it was noted that tokenomics and token buybacks also have a positive impact. Meanwhile, Arthur Hayes, co-founder of BitMEX, has predicted that the HyperLiquid token will reach $100. As of 11:40 PM, HyperLiquid is trading at $37.27, down 3.27% from the previous day according to CoinMarketCap.
May 26General"Japanese Bond Market Volatility Drives Bitcoin's Rise"
Bitcoin (BTC) has reached an all-time high (ATH), and this is attributed to the volatility in the Japanese bond market, according to analysis. On the 26th (local time), Cointelegraph reported that André Dragosch, head of research at Bitwise Europe, stated, "The instability in the Japanese bond market has amplified concerns over national credit risk," adding, "This may have been a factor in increasing Bitcoin adoption by traditional financial institutions." On the 20th (local time), the yield on Japan's 30-year government bonds reached an all-time high of 3.185. He continued, "When bond yields rise, concerns about the risk of government bond defaults increase. This leads to worries about credit downgrades, causing bond yields to rise again," and added, "The expansion of bond market volatility due to the 'fiscal debt vicious cycle' will make Bitcoin perceived as a hedge against government bond default risk." Furthermore, he predicted that Bitcoin could reach $200,000 due to bond volatility. Dragosch stated, "The fiscal debt vicious cycle is affecting not only Japan but also global bond markets, including the United States," adding, "This is the key reason why Bitcoin could reach $200,000." However, he noted, "Support from companies and Bitcoin spot ETF purchases will be necessary." As of 11:14 PM, Bitcoin is trading at $109,700 on Binance USDT market, up 2% from 24 hours ago.
May 26PiCK