Bitcoin (BTC) slightly rebounded to $109,000, Ethereum (ETH) stabilized above $2,500, and Hyperliquid (HYPE) achieved a historic high with four consecutive weekly gains, with a single-day increase of 18.97%.
Ethereum (ETH) price at $2,552, with a weekly increase of 3.16%, the market is focused on its Layer2 ecosystem progress; Solana (SOL) price at $176.52, with a weekly increase of 2.40%, on-chain activity remains active. XRP was affected by capital outflows, with a weekly decrease of 3.27%, as some investors turned to emerging tokens.
The altcoin season index increased by 1 point to 24 compared to yesterday, indicating that in the past 90 days, about 24 projects among the top 100 cryptocurrencies by market capitalization outperformed Bitcoin, and the market is still in a Bitcoin-dominated season.
This week, tokens such as SUI, OP, and ZETA experienced significant unlocks, with a total value exceeding $190 million. Among them, SUI unlocked 44 million tokens (valued at $154 million), accounting for 1.32% of the circulating supply, and the market is concerned about selling pressure risks. The Hyperliquid platform recorded a single-day transaction fee of $4.65 million due to whale contract trading, setting a new historical high.
Whale James Wynn closed his $1 billion short position at a loss of $15.86 million between 6:09-6:15 AM on May 26 Beijing time, with an average opening price of $107,069, and Bitcoin began to rebound at the time of closing.
HTX DAO, together with HTX, held offline events in 12 cities worldwide including Shenzhen and Beijing, recreating the classic scene of '10,000 BTC for pizza,' distributing a million USDT rewards online, with over 2 million participants.
BNB Chain announced the Maxwell hard fork, reducing BSC block time to 0.75 seconds, with the testnet upgrading on May 26.
The total financing amount in the weekly cryptocurrency market reached $287 million, with DeFi project Hyperdrive ($6 million) and Web3 game Voya Games ($5 million) receiving key investments.
FTX will start distributing over $5 billion in funds to creditors from May 30, and creditors must complete KYC verification by June 1, or their claims may be rejected.
Microsoft and Google are accelerating their layout in the AI programming field, with OpenAI launching the Claude Code assistant, intensifying industry competition.
Hong Kong passed the Stablecoin Ordinance draft, establishing a licensing system for fiat-backed stablecoins to attract Web3 projects and talent.
Florida in the United States proposed a bill to abolish Bitcoin capital gains tax, continuously optimizing the cryptocurrency tax environment.
Due to the Memorial Day holiday for fallen soldiers, the US stock market will be closed on May 26, and the UK stock market will also be closed on the same day due to the spring bank holiday.
Summary:
On May 26, 2025, the cryptocurrency market showed a strong performance for Bitcoin, with a slight increase in the altcoin season index. Bitcoin's price slightly rose amidst high-level fluctuations, drawing market attention due to the actions of whales closing positions and the upcoming Bitcoin 2025 conference. Overall, the cryptocurrency, capital markets, and Web3 sectors exhibited their respective development dynamics and trends on this day, with certain interconnections and influences among them.
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