Son Min

Hippo (HIPPO), a meme coin based on Sui (SUI), announced that it will begin buyback and burn from tomorrow. On the 26th (local time), Hippo announced through its official X (formerly Twitter) that "buyback and burn will start from tomorrow," and "50% of the total revenue will be based on the revenue of the Sui-based token issuance platform Splash." Following the buyback news, Hippo surged. As of 10:58 PM, Hippo is trading at $0.0033, up 25.35% from the previous day, according to CoinMarketCap.

An analysis has emerged that whale addresses holding over 10,000 Bitcoin (BTC) have started selling. On the 26th (local time), Glassnode announced via X (formerly Twitter) that "addresses holding over 10,000 BTC have turned to net selling." It further added, "In other segments, widespread accumulation is still ongoing," and "the initiative is shifting to individual investors." As of 10:42 PM, Bitcoin is trading at $109,860, up 2.08% from 24 hours ago, based on the Binance USDT market.

Recently, as Bitcoin (BTC) fell below $111,000, resulting in large-scale long position liquidations, long-term holders (LTH) have reportedly taken the opportunity to accumulate more. On the 26th (local time), Amar Taha, a contributor to CryptoQuant, stated in a report, "Recently, Bitcoin on Binance fell below $111,000, leading to two large-scale long position liquidations," adding, "Long-term holders viewed the decline due to liquidations as a 'golden buying opportunity' and purchased more Bitcoin." He further noted, "Currently, the realized market cap of long-term holder Bitcoin is approaching $28 billion," evaluating that "this will serve as a positive foundation for Bitcoin's future upward trend." Meanwhile, according to CryptoQuant's liquidation delta indicator, a total of $185 million in long positions were liquidated at $110,900 and $109,000. As of 10:35 PM, Bitcoin is trading at $109,951 on Binance USDT market, up 2.23% from 24 hours ago.

Solana (SOL) is analyzed to potentially reach $300 due to positive on-chain indicators. The all-time high for Solana on Binance is around $295. On the 26th (local time), Cointelegraph stated, "Positive on-chain indicators and technical analysis suggest the possibility of further upward movement for Solana," adding, "It could reach $300, approximately a 66% increase from the current price." The media highlighted the surge in Solana's Total Value Locked (TVL) and meme coin market capitalization. According to DeFi Llama data, Solana's current TVL is $9.44 billion, which is over a 54% increase compared to April 7. The meme coin market cap also showed a sharp rise. Currently, the market cap of Solana-based meme coins has surged 65% from April 7 ($8.1 billion) to reach $13.4 billion. The media reported, "The increase in TVL and meme coin trading indicates high network activity and rising demand for Solana," adding, "This will positively impact Solana's price." Furthermore, the technical analysis is also positive. The media added, "On the weekly chart, Solana is forming a V-shaped pattern," and "If it breaks through the $180-$200 range, it could surpass $252 and reach $300." As of 10:19 PM, Solana is trading at $177 on the Binance USDT market, up 3.65% from 24 hours ago.

There is an opinion that even long-term holders are confused about the current position of Bitcoin (BTC) in the bullish cycle. On the 26th (local time), Centora (formerly IntoTheBlock) stated on X (formerly Twitter), "Long-term holders tend to accumulate during bear markets and sell during bull markets," and "As a result, on-chain charts form a symmetrical bowl-shaped pattern." However, it is pointed out that this cycle is showing a different pattern from the past. Centora analyzed, "This selling trend started much earlier than before and is showing an inconsistent flow. The symmetrical pattern seen in the past has disappeared," and "Even long-term holders are confused about the current position of the Bitcoin cycle."

Global cryptocurrency exchange Binance is listing Huma Finance (HUMA) perpetual futures. On the 26th (local time), Binance announced on its official website, "We will list HUMA/USDT perpetual futures today at 22:00 (KST)." It supports up to 75x leverage.

It has been revealed that Strategy has purchased an additional 4020 Bitcoin (BTC). The purchase is approximately 585.1 billion KRW. On the 26th (local time), Michael Saylor, the founder of Strategy, announced on X, "Strategy has purchased an additional 4020 BTC (427.1 million USD)," stating, "The purchase price per BTC is approximately 106,237 USD." He added, "We have achieved a 16.8% return this year." Currently, Strategy holds a total of 580,250 BTC. This amounts to approximately 40.61 billion USD, with an average purchase price of 69,979 USD. As of 9:12 PM, Bitcoin is trading at 109,695 USD on the Binance USDT market, up 2.22% compared to 24 hours ago.

Considering the trading volume of virtual assets (cryptocurrency) in Korea, it has been argued that the potential of Korean Won stablecoin is significant. On the 26th (local time), Jae-woo Cho, director of the Blockchain Research Institute at Hansung University, stated on X (formerly Twitter), "Those who have seen the growth of Tether (USDT) and USD Coin (USDC) can recognize the potential of a Korean Won-based stablecoin," and "The key to the growth of stablecoins is exchanges." He explained, "Considering the deposits and trading volume of our country's exchanges, there is no reason why a Korean Won stablecoin cannot take hold," and "Tether (USDT) and USD Coin (USDC) grew with the support of Bitfinex and Coinbase, respectively." He added, "Even the unfamiliar First Digital USD (FDUSD) rose to the 4th place in asset-backed stablecoin market capitalization simply because it is used on Binance."

Sun Pump (SUN PUMP), a TRON (TRX) based meme coin issuance platform, has launched the 'Sun Pump CEX Alliance', a strategic partnership network with centralized exchanges (CEX). On the 26th (local time), Sun Pump announced on X (formerly Twitter), "We have launched the 'Sun Pump CEX Alliance', a strategic partnership network with major centralized exchanges," and "Through this, we will support TRON meme coin projects." The network includes exchanges such as BingX, BitMart, HTX, LBank, and Pionex. As a result, meme coin projects that meet criteria such as a market capitalization of over $500,000 and stable on-chain performance will be recommended for listing on partner exchanges after review. Additionally, benefits such as simplified listing procedures, joint marketing support, and opportunities to participate in ecosystem campaigns will be provided.

An analysis has emerged suggesting that XRP could drop by up to 25% when considering on-chain data and technical indicators. On the 26th (local time), Cointelegraph stated, "On-chain data and technical indicators are warning of a high point for XRP," adding, "XRP could fall up to 25% to $1.76." Particularly, attention was drawn to the realized market cap structure of XRP. The media noted, "Currently, over 70% of the realized market cap for short-term XRP holders was formed during the recent surge," adding, "Typically, a top-heavy realized market cap structure is vulnerable to price decline risks." It was explained that after the realized market cap for short-term holders surged in 2017 and 2021, there were subsequent sharp declines of 95% and 80%, respectively. The sharp decline in network activity was also pointed out. Cointelegraph reported, "In March, the number of active XRP addresses hit an all-time high, but it has now decreased by about 90%," adding, "Typically, a divergence between price movement and on-chain activity occurs near a high point." It continued, "The weekly chart for XRP has failed to break through the upper trend of the falling wedge pattern. The possibility of a short-term correction has increased." As of 8:24 PM, XRP is trading at $2.3358 on the Binance USDT market, up 2.04% from 24 hours ago.

Bitcoin (BTC) has formed a Double Bottom, raising the possibility of surpassing $112,000. On the 26th (local time), CryptoQuant analyst Ibrahim Cosar (ibrahimcosar) reported that "Bitcoin has formed a double bottom at $106,000," indicating "the buying pressure in the market is increasing again." He added, "Strong trading volume accompanies this, strengthening the upward outlook. Bitcoin can surpass $112,000." As of 7:53 PM, Bitcoin is trading at $109,643 on the Binance USDT market, up 2.45% from 24 hours ago.

There are claims that Solana (SOL) could reach an all-time high (ATH) in the coming months. Currently, Solana's all-time high is around $295 based on Binance. On the 26th (local time), AMBCrypto stated, "Solana's on-chain indicators suggest the possibility of an upward trend. It could reach a new all-time high in the coming months." AMBCrypto focused on the Market Value to Realized Value (MVRV) indicator. Historically, Solana's MVRV indicator has recorded over 2.5 at short-term peaks and over 3.5 at cycle peaks. Currently, Solana's MVRV indicator is at 1.2, suggesting the potential for further surges. Additionally, positive on-chain indicators were mentioned. The media stated, "The increase in the number of wallets holding over 1000 SOL has a strong positive correlation with price increases," adding, "Since March, the number of wallets holding over 1000 SOL has increased by about 1400." It further added, "The increase in this indicator suggests continuous accumulation by whales and potential rallies." Peter Brandt, a cryptocurrency analyst, also predicted an increase for Solana. He stated, "Solana has currently formed a bullish cup and handle pattern," adding, "If this pattern breaks out, it could rise up to $518." As of 7:28 PM, Solana is trading at $177 on the Binance USDT market, up 3.31% from 24 hours ago.

There is a claim that Ethereum (ETH)'s upward rally may still be in its early stages. On the 26th (local time), Burakkesmeci, a contributor to CryptoQuant, stated in a report, "Historically, whenever Ethereum reached a peak, the trading volume of individual investors surged," adding, "Individual investors in Ethereum have not yet fully entered the market. The upward rally may still be in its early stages." Additionally, Burakkesmeci explained, "Interest in Ethereum (green dots on the chart) temporarily surged around December last year, but individual trading significantly decreased due to tariff impacts." He further evaluated, "Despite Bitcoin (BTC) reaching an all-time high, Ethereum did not perform well," and "there is still ample potential for an increase due to the influx of individual investors." As of 7:08 PM, Ethereum is trading at $2,564 on the Binance USDT market, up 2.71% from 24 hours ago.

An analysis has emerged suggesting that the possibility of a short-term adjustment in the virtual asset (cryptocurrency) market has increased. On the 26th (local time), a Crazzyblockk Santiment analyst reported, "On-chain indicators suggesting the possibility of a short-term adjustment in the virtual asset market are emerging," and added, "The taker buy and sell volumes on centralized exchanges (CEX) have both significantly decreased." He continued, "This indicates a decrease in the market order ratio on both the buy and sell sides, suggesting a weakening of the market's short-term momentum." Additionally, the decline in the taker buy-sell ratio was highlighted. He analyzed, "The taker buy-sell ratio has fallen by about 35% over the past 7 days, with the 7-day moving average reaching 1.2," and added, "At the same time, the 7-day price volatility indicator has surged, implying a significant change is approaching the market." Furthermore, he predicted that Bitcoin (BTC) could reach $105,000. The analyst stated, "Due to the increase in selling pressure and volatility, the possibility of a short-term adjustment has become very high," and added, "Bitcoin is also likely to retest the $105,000 support level." As of 6 PM, Bitcoin is trading at $109,659 on the Binance USDT market, up 2.38% from 24 hours ago.

Strategic Ethereum Reserves Hit All-Time High Institutional Interest Surges, Industry Optimism Grows Investor Sentiment & Fundamentals↑... "Long-Term Outlook Positive" Amid fierce competition among institutions for strategic Bitcoin (BTC) reserves due to the U.S.'s crypto-friendly policies, interest in strategic reserves of Ethereum (ETH), the leading altcoin, is also increasing. The most notable institution for strategic Ethereum reserves is the U.S. government. In March, former U.S. President Donald Trump announced at the White House Crypto Summit that the government would strategically reserve cryptocurrencies seized from criminal proceeds, positioning the U.S. government as a major Ethereum reserve institution with approximately 59,965 ETH. Recently, Coinbase (COIN), a global cryptocurrency exchange included in the S&P 500 index, holds about 137,334 ETH, while participants in the Ethereum ecosystem like PulseChain (166,303 ETH) and the Golem Foundation (100,845 ETH) are also increasing their reserves. Tech companies listed on Nasdaq are also joining the Ethereum reserve movement. On the 22nd (local time), hardware and software solutions provider Intrachains Group (Ticker: ICG) announced on its official X (formerly Twitter) that it plans to strategically reserve the 7,025 ETH it currently holds long-term, stating, "We will continue our strategic Ethereum reserves." Blockchain company BTCS (Ticker: BTCS) also announced on the 21st (local time) that it is strategically reserving Ethereum worth 3,450 ETH. According to the strategic Ethereum reserve data platform 'Strategic Ethereum Reserve (SER)', global institutions and projects have accumulated approximately 180,000 ETH in the last two weeks, reaching an all-time high of 972,066 ETH as of the 26th. With growing institutional interest in strategic Ethereum reserves, there are projections that the reserve volume could increase more than tenfold within the next year. Anthony Sassano, co-founder of ETHhub, stated, "Currently, the strategic Ethereum reserves of companies and institutions are only about 1 million ETH, but if institutional interest continues, it could surpass 10 million ETH within a year," adding, "A gold rush towards Ethereum by institutions and investors could occur in the future." Long-Term Price Outlook Also Positive With growing institutional interest in strategic Ethereum reserves, there is also optimism about Ethereum's long-term price outlook. Crypto Dan, an analyst at the on-chain analysis platform CryptoQuant, stated, "The public expression of Ethereum reserve intentions by global companies positively impacts the fundamentals (intrinsic value)," adding, "It will also act as a very positive factor for Ethereum's price." Ethereum, which operates on a proof-of-stake (PoS) system, allows users to participate in network operations such as block creation and transaction verification through staking (depositing). The more Ethereum is staked, the more stable transaction processing becomes, and the likelihood of transactions being manipulated by external attackers decreases. Considering that most strategic reserves by companies are in the form of staking, the overall trust and stability of Ethereum network operations can be enhanced. Furthermore, the reduction in circulation due to institutional buying and the stimulation of investment sentiment can also act as favorable factors. Crypto Dan stated, "Strategically reserving Ethereum long-term can reduce market circulation, increasing upward pressure," adding, "Continued reserve announcements can stimulate the buying sentiment of other companies and individual investors, greatly aiding Ethereum's long-term price increase." However, for strategic reserve movements to act as a definite positive factor for Ethereum, increased interest from traditional financial institutions is necessary. Kim Byung-jun, a researcher at Dispread, stated, "Currently, institutions pursuing or discussing strategic Ethereum reserves are limited to blockchain, tech companies, and ecosystem-related foundations and projects," adding, "For Ethereum's price to have a significantly positive impact, participation from traditional financial institutions must continue."

An analysis has emerged that the selling pressure on Ethereum (ETH) is increasing. On the 26th (local time), a ShayanMarkets cryptocurrency analyst reported in a report that "according to the ETH taker buy-sell ratio indicator, uncertainty about the possibility of Ethereum rising is increasing," and "the 14-day moving average of this ratio has recently fallen sharply. This indicates that aggressive selling pressure has increased." He added, "Ethereum is hovering near the resistance line, with profit-taking and partial selling continuing." Furthermore, the possibility of further decline was also raised. He said, "If the taker buy-sell ratio continues to fall, Ethereum could undergo a larger correction," stating that "in this case, $2200 will be a major support level." As of 5:34 PM, Ethereum is trading at $2574 on the Binance USDT market, up 3.55% from 24 hours ago.

Japanese listed power company Remixpoint is set to purchase additional Bitcoin (BTC) worth 1 billion yen (approximately 9.6 billion won). On the 26th (local time), Remixpoint announced on its official website that "the board of directors has passed a resolution to purchase additional Bitcoin worth 1 billion yen," and "the timing of the purchase will be decided by monitoring market conditions." Meanwhile, Remixpoint already holds virtual assets (cryptocurrencies) worth 10.5 billion yen (approximately 100.5 billion won).

Last week, global cryptocurrency investment products saw an inflow of $3.3 billion, continuing a six-week streak of net inflows. On the 26th (local time), CoinShares reported that "last week, $3.3 billion (4.5141 trillion KRW) flowed into cryptocurrency investment products, marking six consecutive weeks of net inflows." They further stated, "Since the beginning of the year, the funds inflow is nearing a record high of $10.8 billion," and "the total assets under management (AUM) also briefly hit a record high of $187.5 billion." CoinShares attributed the increase in fund inflows to "investors seeking diversification through cryptocurrencies due to Moody's downgrade of the US credit rating and the surge in treasury yields." By asset, Bitcoin (BTC) products recorded a net inflow of $2.9 billion, ranking first. This accounts for 25% of the total inflow for the entire last year. On the other hand, interest in short (sell) products also grew. Bitcoin short products saw an inflow of $12.7 million, marking the largest weekly inflow since December last year. Ethereum (ETH) saw an inflow of $326 million, recording the largest weekly inflow in 15 weeks, continuing a five-week inflow trend. Additionally, Solana (SOL) and Sui (SUI) recorded net inflows of $4.3 million and $2.9 million, respectively. In contrast, Ripple (XRP) products saw an outflow of $37.2 million, ending an 80-week streak of inflows. This is the largest outflow on record for XRP products. By country, the inflow from the US was strong. Approximately $3.2 billion was net inflowed from US-based cryptocurrency products, followed by Germany, Australia, and Hong Kong with inflows of $41.5 million, $10.9 million, and $33.3 million, respectively. In contrast, Switzerland and Sweden recorded net outflows of $16.6 million and $12.1 million, respectively.

Bitcoin (BTC) has shown a healthy upward trend, and there is a high possibility that this strong performance will continue. On the 26th (local time), Jamie Coutts, the chief cryptocurrency analyst at Real Vision, stated on X (formerly Twitter) that "the key factors influencing Bitcoin's price are the derivatives market and the direction of investors' positions," adding that "this record high was not due to excessive leverage or one-sided position betting." This suggests that the recent rise in Bitcoin is a healthy increase rather than a speculative bet. He further stated, "The strong trend of Bitcoin is likely to continue." As of 4:31 PM, Bitcoin is trading at $109,913 on the Binance USDT market, up 2.26% from 24 hours ago.

An analysis suggests that if Bitcoin (BTC) reaches the $162,000 level, selling pressure from short-term investors (holding for 1-3 months) may increase. On the 26th (local time), Axel Adler Jr., a CryptoQuant contributor, stated on X (formerly Twitter) that "the NUPL (Net Unrealized Profit/Loss) indicator for short-term investors recorded 27%." He added, "Generally, when this indicator exceeds 40%, there is a tendency for increased selling pressure from short-term investors." Furthermore, he noted, "Considering the current upward trend in NUPL, it is expected to reach 40% on June 11th (local time)," adding, "This would correspond to a Bitcoin price of approximately $162,000." As of 4:16 PM, Bitcoin is trading at $109,747 on the Binance USDT market, up 1.88% from 24 hours ago.

Bitcoin (BTC) has exceeded $110,000. As of 4:06 PM, Bitcoin is trading at $110,000 on Binance USDT market, up 2% from 24 hours ago. Meanwhile, according to Cryprice, the Kimchi Premium for major virtual assets (cryptocurrencies) including Bitcoin is recorded at 1.53%.

James Wynn, known as a whale on the decentralized futures exchange (DEX) Hyperliquid (HYPE), has reportedly taken a 40x long position in Bitcoin (BTC). On the 26th (local time), cryptocurrency analyst ai_9684xtpa announced on X (formerly Twitter) that "James Wynn has established a 40x long position in Bitcoin," adding that "the total position size is approximately $68.05 million." The average purchase price and liquidation price are $109,715 and $102,430, respectively. As of 4:02 PM, Bitcoin is trading at $109,915 on the Binance USDT market, up 1.95% from 24 hours ago. Meanwhile, he has also entered a 10x long position in the meme coin Pepe (PEPE) with a size of $9.92 million.

It has been revealed that the use of Hong Kong virtual asset payment company RedotPay is prohibited for domestic users. Previously, RedotPay officially launched the 'RedotPay Card', a payment card based on stablecoins such as Tether (USDT) and USDC. According to the industry on the 25th (local time), RedotPay has stopped issuing new physical cards for Korean customers. Although the card was based on the 'Visa Network' and could be used domestically, Korea has now been added to the list of countries where physical card delivery is not possible. However, virtual card issuance is still possible, raising concerns about discrimination against domestic businesses. This is because various procedures, including reporting to the Financial Intelligence Unit (FIU), must be followed to implement virtual asset payment services domestically. However, payment platforms operating overseas are not subject to these regulations.

A study has found that Korea Electric Power Corporation (KEPCO) could alleviate its debt issues by mining Bitcoin with surplus electricity. It is argued that recycling surplus electricity exceeding net consumption can enhance the efficiency of power resources and create new revenue streams. On the 1st, a research team including Professor Choi Yoon-seul from the Department of Applied Statistics and Professor Jung Jae-hong from the Department of Mathematics at Hanyang University stated in a report that "the surplus solar power exceeding net consumption is virtually disappearing," and "using this power for Bitcoin mining can reduce energy loss and generate economic profit." Examples from major foreign countries were also presented. The United States, Bulgaria, Bhutan, and El Salvador are already mining or purchasing Bitcoin under government initiatives and utilizing it as a national strategic asset. Bhutan started mining in 2017 and is expected to hold 12,568 BTC by the end of 2024, while El Salvador is known to hold 5,930 BTC. The research team evaluated that "the recycling of surplus power through Bitcoin can strengthen KEPCO's financial soundness, improve energy efficiency, and contribute to solving the issue of unpaid bills," and "it will serve as basic data for exploring the intersection of the domestic Bitcoin mining industry and energy policy in the future." As of 10:10 PM, Bitcoin is trading at $107,443 on the Binance USDT market, down 1.12% from 24 hours ago.

An analysis suggests that Sui (SUI) may decline further if it falls below the $3.6 support level. On the 25th (local time), Crypto Man Mab, a cryptocurrency analyst, stated on X (formerly Twitter), "Sui is currently testing the key support level around $3.6 to $3.65," and added, "If it falls below the support level, it could drop to $3.5233." He mentioned that the current momentum for Sui is predominantly bearish. The analyst noted, "The fact that Sui recently plummeted after reaching $4.2 and fell below the $3.8 support level is evidence of the current strong downtrend," and added, "The approximately 5% decline shown over the past 7 days could further amplify short-term bearish sentiment." However, he also mentioned that if the $3.6 support level holds strongly, a rebound to $3.8 is possible. As of 9:59 PM, Sui is trading at $3.5378 on the Binance USDT market, down 3.48% from 24 hours ago.

An analysis has emerged suggesting that XRP could plummet to as low as $1.55 if it falls below $2.25. On the 23rd (local time), CasiTrades, a cryptocurrency analyst, stated on X (formerly Twitter), "Last week, XRP surged alongside Bitcoin (BTC) reaching an all-time high, but it has since declined sharply due to macroeconomic influences," adding, "XRP could retest the $2.25-$2.26 support level." Furthermore, they noted, "This range is an important point that coincides with the Fibonacci retracement level of 0.382," and added, "If this support level collapses, XRP could fall to $1.55-$1.90, erasing all gains from the bull market." Conversely, if the support holds, it could find an upward trend again. CasiTrades mentioned, "If the $2.25 support level is maintained, the price could rise above $2.70," adding, "In this case, reaching the previous high of $3.84 is also possible." As of 9:46 PM, XRP is trading at $2.3018 on the Binance USDT market, down 2.01% from 24 hours ago.

XRP has been included as a core strategic asset in the international remittance system of the open banking social platform BankSocial. On the 23rd (local time), John Wingate, CEO of BankSocial, stated on X (formerly Twitter), "We just finished a meeting with the Ripple team. It was one of the greatest meetings in the history of international payments," adding, "Now, XRP has also become an important core of our strategy alongside Hedera (HBAR)." He mentioned, "Hedera handles backend processing, state verification, and the application network (HCS). XRP will play a key role in international remittances," expressing his ambition to "create a new financial paradigm through the BankSocialToken (BSL) and a three-party integration structure." He concluded by saying, "You are not thinking big enough right now," and "Think big. Then multiply it by a billion." However, aside from John Wingate's remarks, no official collaboration announcement has been made so far. Meanwhile, John Wingate, CEO of BankSocial, is also a developer of Hedera (HBAR).

Changpeng Zhao, co-founder of Binance, predicted that the competition among global countries to purchase Bitcoin (BTC) will intensify. According to DeepNews on the 25th (local time), Changpeng Zhao stated, "The demand for Bitcoin by sovereign countries is increasing. Countries will print unlimited money to buy Bitcoin." The media reported, "The United States and China are significantly increasing their money supply. Trillions of dollars will flow into the virtual asset (cryptocurrency) market." As of 9:10 PM, Bitcoin is trading at $107,372 on the Binance USDT market, down 1.53% from 24 hours ago.

The blockchain with the most active development related to Real World Assets (RWA) is Chainlink (LINK). On the 23rd (local time), Santiment announced on X (formerly Twitter) that "Chainlink recorded over 530 major updates in the RWA sector over the past month," adding that "this is twice the number recorded by Avalanche (AVAX), which ranked second." As of 9:01 PM, Chainlink is trading at $15.15, down 3.81% from 24 hours ago on the Binance USDT market.