CryptoNews

Pi Network has returned to market attention after its team shared a new Know Your Customer update. 

Summary

PI reclaimed top-50 attention as KYC progress met weak price action and fresh supply concerns.

Over 18.1 million users passed KYC, but tentative checks still keep some Mainnet migrations pending.

Crypto.news data shows PI near $0.17, with weekly losses still keeping traders cautious for now.

The project said more than 18.1 million users have passed native KYC checks, while over 16.7 million Pioneers have moved to Mainnet. The update gives the network a new user-growth figure at a time when PI is trying to recover from recent price weakness.

The team has often linked KYC to its “one person, one account” model. The goal is to limit bots, fake users, and duplicate accounts before balances move to Mainnet. That system remains central to Pi Network’s pitch as a large identity-verified blockchain community.

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Tentative KYC keeps user concerns alive

The latest update also addressed users stuck in Tentative KYC. The team said this status “does not mean rejection”, but means some accounts need more checks before approval. That claim may ease some concerns, but it does not remove the long wait faced by users who say they have remained in that status for months.

Pi Network has also been working on AI-assisted verification tools. A January update said millions of Pioneers had been unblocked for Mainnet migration, while palm print checks were being tested as a possible extra security method. The project said such tools could support liveness checks, account recovery, password resets, and other safety flows.

PI price shows a limited rebound

The KYC update arrived while PI’s market setup remained weak. crypto.news price data showed PI (PI) trading near $0.172, with a market cap of about $1.79 billion and 24-hour volume near $13.82 million. The token was ranked #50 by market cap, but it was still down about 4.03% over seven days.

This means the latest recovery has not yet changed the wider trend. PI is still far below its February 2025 all-time high of $2.99. crypto.news data also shows the token remains above its February 2026 low of $0.131244, leaving traders focused on whether the market can hold the current range.

Unlocks and utility remain key tests

Recent crypto.news coverage warned that PI still faces selling pressure from token unlocks. A May 11 analysis said more than 174 million previously locked PI tokens were expected to enter circulation before the end of the month. It also said PI could revisit the $0.15 area if weakness continues.

Other related updates show why traders remain divided. crypto.news reported in April that Pi Network completed a mainnet v21 upgrade and launched a testnet RPC server to help developers test apps before mainnet deployment. Those upgrades may support future use, but price data shows PI still needs stronger demand to turn KYC progress into a lasting market recovery.

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Switzerland has launched its first live municipal blockchain project through a biodiversity reward voucher system built on the Hedera network and backed by a Swiss franc-linked digital payment instrument.

Summary

Switzerland’s first municipal blockchain voucher system has launched in Muri bei Bern using the Hedera network.

Residents can earn digital biodiversity vouchers for conservation work and redeem them at local businesses for 1 Swiss franc.

The project uses Swisscoast’s HCHF stablecoin infrastructure as Switzerland continues developing stablecoin regulations under FINMA oversight.

According to an announcement shared with crypto.news by the Municipality of Muri bei Bern, the Canton of Bern municipality partnered with Swiss Web3 engineering firm The Hashgraph Group, blockchain developer Swisscoast, and digital transformation company Apps with Love to roll out BIDI, a blockchain-based biodiversity voucher designed to reward residents for participating in conservation work.

Built on the Hedera distributed ledger network, the system issues on-chain vouchers pegged to the Swiss franc for activities such as meadow restoration, hedge maintenance, invasive plant removal, riparian repair work, and wetland conservation. Residents can redeem each BIDI voucher for 1 Swiss franc at participating local merchants and service providers inside the municipality.

Municipal authorities said the initiative replaces a paper voucher program that had operated in Muri bei Bern for the past eight years. By moving the system on-chain, the project introduces digital verification and settlement infrastructure while keeping the existing community redemption model intact.

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Swisscoast developed the payment layer using its HCHF digital Swiss franc stablecoin on Hedera, while The Hashgraph Group participated as ecosystem partner. The project also received backing from The Hashgraph Association through its Enterprise Accelerator Program for enterprise and government blockchain applications.

Swiss municipalities test blockchain infrastructure

Coming after Switzerland opened consultations in late 2025 on a dedicated stablecoin licensing regime under oversight from FINMA, the BIDI rollout adds another example of Swiss institutions experimenting with tokenized payment systems tied to public services.

Under the proposed Swiss framework published last year, stablecoin issuers would be required to maintain fully backed reserves, provide redemption rights, and operate under a dedicated payment instrument license category. Officials at the time said stablecoins could support tokenized asset markets and strengthen digital settlement infrastructure within Switzerland’s financial system.

At the municipal level, BIDI now extends blockchain use beyond financial services into environmental programs and local commerce.

“We are proud to offer BIDI, an existing, trusted Swiss instrument, in collaboration with The Hashgraph Association,” Swisscoast AG President Toni Caradonna said. Caradonna added that the company previously worked with Hedera on another project called HLiquity and viewed distributed ledger technology as important for both innovation and conservation efforts.

Within the same announcement, Stefan Deiss, CEO and co-founder of The Hashgraph Group, said tokenization was expanding beyond finance into public administration tools such as vouchers and reporting systems.

“Public-sector instruments such as vouchers, claims, and reporting tokens will become verifiable, and BIDI demonstrates DLT credibility through provenance, not novelty,” Deiss said.

Apps with Love CEO Stephan Klaus said the project showed how digital products could connect ecological participation with local economic activity while improving efficiency and verification processes.

Hedera, which promotes itself as a carbon-negative network through the purchase of carbon offsets exceeding its energy use, said its governing council includes organizations focused on sustainability initiatives and environmental reporting.

Designed as a reusable framework, the BIDI infrastructure can reportedly be adapted for other Swiss municipalities within weeks rather than requiring long deployment timelines. Municipal officials and project partners said the structure could eventually expand to cities and regions outside Switzerland as European governments continue testing blockchain-based public service systems.

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Galaxy Digital and SharpLink have launched the Galaxy SharpLink Onchain Yield Fund with $125 million to deploy into DeFi protocols.

Summary

SharpLink will commit $100 million from its staked ETH treasury to the fund, with Galaxy Digital contributing $25 million and managing investments.

Capital will be deployed across DeFi liquidity protocols and onchain yield strategies while maintaining SharpLink’s core Ethereum exposure.

SharpLink holds 872,984 ETH in treasury and has generated 18,800 ETH in staking rewards since launching its Ethereum strategy in June 2025.

Galaxy Digital and SharpLink announced a non-binding agreement on May 11 to launch the Galaxy Sharplink Onchain Yield Fund, a $125 million limited partnership structured to put part of SharpLink’s staked Ethereum treasury to work across DeFi strategies. Galaxy will serve as investment manager.

SharpLink will contribute $100 million from its staked ETH position, with Galaxy adding $25 million of its own capital. Mike Novogratz, founder and CEO of Galaxy, said the infrastructure for institutional DeFi participation “has matured to a point where allocators can access yield, liquidity, and risk management with the same rigor they expect in traditional markets.”

What the fund will do

The fund will deploy capital across DeFi liquidity protocols and other onchain yield-generating strategies. The structure is designed to keep SharpLink’s core ETH exposure intact while adding an active yield layer on top of its existing staking operations.

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SharpLink CEO Joseph Chalom said the strategy aims to provide liquidity to high-quality protocols while generating returns above the average Ethereum staking rate. “Operational rigor is non-negotiable,” he said, noting the fund’s risk management framework will apply the same discipline Galaxy uses across its lending, trading, and asset management businesses.

The announcement came alongside SharpLink’s Q1 2026 earnings, which showed revenue rising to $12.1 million from $742,000 in the same period a year earlier. SharpLink posted a net loss of $685.6 million for the quarter, driven by unrealized depreciation in its ETH portfolio as Ethereum fell from roughly $3,354 in mid-January to $2,104 by quarter-end.

SharpLink’s position in the Ethereum ecosystem

SharpLink holds 872,984 ETH and is the second-largest publicly traded corporate Ethereum holder, behind Bitmine Immersion Technologies. Its treasury has generated 18,800 ETH in staking rewards since June 2025 with over 90% of its holdings staked at all times.

The Galaxy fund marks a meaningful shift in how public companies are thinking about crypto treasury management, moving beyond passive staking toward active DeFi deployment. Galaxy also launched a separate tokenized cash fund with State Street last week built on Solana, signalling a broader push by the firm into institutional onchain yield infrastructure.

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Keel Infrastructure, formerly known as Bitfarms, reported a net loss of $145.4 million for the first quarter of 2026. 

Summary

Keel’s Q1 revenue fell 23% to $37 million as losses widened after its rebrand shift.

The company said $533 million in liquidity can fund priority sites through lease execution plans.

Shares closed higher as investors weighed AI infrastructure demand against weak Bitcoin mining results.

Revenue fell to $37 million, down 23% from $47.7 million a year earlier. The company also posted a $98.4 million operating loss, compared with $34.8 million in Q1 2025. 

The result included a $41.4 million loss from changes in the fair value of digital assets and a $21.6 million loss tied to the extinguishment of long-term debt.

Meanwhile, KEEL shares closed at $4.30 on May 11, up 8.31% for the session. The stock later traded at $4.27 after hours, down 0.70%, according to Google Finance data.

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The stock reaction showed that investors focused on the company’s AI infrastructure plan, not only the weaker quarterly numbers. Google Finance listed KEEL’s intraday high at $4.50 and its low at $3.56.

AI infrastructure becomes the main plan

Keel said it completed its redomiciliation to the United States and rebranded as part of a shift away from Bitcoin mining. The company now presents itself as a North American data center and energy infrastructure developer for AI and high-performance computing.

“Our rebranding to Keel Infrastructure marks the completion of a nearly two-year strategic transformation,” said chief executive Ben Gagnon.

He said the company had exited Latin American megawatts and focused its pipeline on North American AI markets.

Liquidity supports site development

Keel reported about $533 million in liquidity as of May 8. That total included $336 million in unrestricted cash and $197 million in unencumbered Bitcoin.

Chief financial officer Jonathan Mir said, “Our liquidity stands at approximately $533 million.” He said the funds can support Panther Creek, Sharon, and Moses Lake through lease execution and cover general expenses through 2028.

The company said it secured zoning approvals and advanced land and environmental work at the three priority sites. Keel also sold 269 Bitcoin for $20 million between Jan. 1 and May 8 as part of its planned wind down of its Bitcoin position.

Miners keep moving toward AI

Keel’s pivot fits a wider shift among public Bitcoin miners. Recent market updates showed Core Scientific is converting its Pecos, Texas, mining site into a 1.5-gigawatt AI data center campus, with 300 megawatts moving away from mining use.

Separate coverage also showed Core Scientific’s self-mining revenue fell as its AI colocation business grew. MARA has taken a similar route through its Starwood partnership, which targets AI-focused data centers across power-rich mining sites.

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US prosecutors have charged three Tennessee men over an alleged robbery and kidnapping spree targeting cryptocurrency holders in California. 

Summary

US prosecutors say three Tennessee men targeted crypto holders across California using fake delivery tactics.

One victim was allegedly forced at gunpoint to transfer about $6.5 million in crypto.

The case adds to growing global concern over physical attacks targeting visible crypto wealth.

The defendants are Elijah Armstrong, 21, Nino Chindavanh, 21, and Jayden Rucker, 25. 

The Justice Department said the indictment was filed on March 31 and unsealed after the men were arrested. Prosecutors said the alleged targets were based in San Francisco, San Jose, Sunnyvale, and Los Angeles. 

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Fake delivery tactic led to home entries

The men allegedly posed as delivery workers to gain entry, or try to gain entry, into victims’ homes. Prosecutors said they then used firearms, duct tape, and zip ties to restrain victims and demand access to crypto accounts. 

In one case, a victim was allegedly forced at gunpoint to sign into crypto accounts. A co-conspirator then transferred about $6.5 million in digital assets to a wallet controlled by the group, the Justice Department said. 

US Attorney Craig Missakian said, “These individuals, as alleged, terrorized their victims in the hopes of stealing vast sums of cryptocurrency.” He also described the alleged scheme as “brazen, violent, and dangerous.” 

FBI Acting Special Agent in Charge Matt Cobo said the case involved robbery, kidnapping, and the theft of millions in crypto. He said the FBI would work with local partners to pursue people who target victims for digital assets. 

Wrench attacks draw wider concern

The case adds to growing concern over crypto wrench attacks. These crimes involve physical threats or violence used to force victims to transfer assets or reveal account access details. Market updates have tracked similar cases in France, including home invasions, kidnappings, and forced wallet access. 

French prosecutors recently charged 88 people in cases tied to alleged crypto wrench attacks. Authorities there recorded 18 incidents in 2024, 67 in 2025, and 47 so far in 2026, showing how physical crypto crime has grown. 

Defendants remain in federal custody

Armstrong, Chindavanh, and Rucker remain in federal custody. Armstrong and Rucker were scheduled to appear on May 12 for appointment of counsel, while Chindavanh is scheduled for a June 26 status hearing. 

The Justice Department said an indictment only alleges that crimes were committed. The defendants are presumed innocent unless proven guilty beyond a reasonable doubt. If convicted, they face prison terms and fines tied to robbery and kidnapping charges. 

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Aptos plans to launch a native encrypted mempool to protect transaction intent at the protocol layer. 

Summary

Aptos says its encrypted mempool will hide transaction details during block ordering before execution.

The feature still needs governance approval before Aptos can roll it out to users.

Aptos Labs says batched threshold encryption can limit latency while keeping network trust assumptions.

The network said the feature will keep pending transaction details hidden during block ordering, then reveal them before execution.

The feature still depends on governance approval. Aptos said, “Pending governance approval, Aptos will be the first L1 to offer a native encrypted mempool.” The project says users will be able to send protected transactions with one click, without changing the normal on-chain record after confirmation.

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Aptos keeps transaction intent hidden

Aptos Labs said most blockchains expose pending transactions before they reach a block. That visibility can let validators, bots, or other actors delay, reorder, copy, or censor trades before confirmation.

The encrypted mempool is designed to reduce that risk. Aptos Labs said transaction details remain confidential until execution, protecting users from frontrunning, censorship, and order-flow manipulation while confirmed transactions remain public on-chain as usual.

Moreover, Aptos Labs said the system uses batched threshold encryption. Under the design, validators can collectively decrypt batches of transactions in one operation, reducing communication and computing overhead compared with decrypting each transaction separately.

The team said this approach can work inside the Aptos consensus process while keeping the same trust assumptions as the network. Aptos Labs added that users should be able to submit encrypted transactions with “no impact to latency” once the system is live.

Institutional market push grows

Aptos framed the encrypted mempool as part of a wider push for large on-chain markets. The network said the feature can help protect large transactions from censorship and frontrunning, which remain common concerns in decentralized trading.

The move also follows wider ecosystem spending. Earlier reports noted that Aptos Foundation and Aptos Labs committed more than $50 million to support trading, AI agents, research, and protocol infrastructure. That plan includes Decibel, an on-chain order book and perpetuals exchange that Aptos said had crossed $1 billion in cumulative volume.

Aptos has also been adding privacy-focused features for institutional use. Related coverage noted that Confidential APT launched in April, allowing concealed transfer data while keeping verifiability. The encrypted mempool would add another layer by protecting transaction intent before execution.

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Upbit listed Venice Token (VVV) on May 12 with Korean won, Bitcoin, and USDT trading pairs. 

Summary

Upbit listed Venice Token with KRW, BTC, and USDT pairs, using only the Base network.

VVV traded near $17.15, down 2.9% in 24 hours despite listing news.

Venice AI positions VVV as a Base token for private AI access, staking, and DIEM minting.

The South Korean exchange said trading would begin at 16:00 local time, giving VVV direct access to one of Asia’s busiest retail crypto markets.

The exchange said deposits and withdrawals will only support the Base network. Korean reports also noted that users should check the VVV-Base network before sending funds, as unsupported network deposits may not process normally.

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However, Venice Token (VVV) traded near $17.15 at press time after the listing news. The token was down 2.9% over 24 hours, even as its seven-day gain stood at 84.1%. Crypto.news listed VVV’s market cap near $795 million and its 24-hour volume at about $131.8 million.

The reaction looked mixed across venues. CBC News reported that VVV traded at 26,840 won on Upbit’s KRW market at 16:05 local time, up 16.7% at that moment. Wider market data, however, showed the token had not held a clear daily breakout.

Venice AI links privacy and token access

VVV is the native token of Venice AI, a privacy-focused artificial intelligence platform. Venice says VVV runs on Coinbase’s Base blockchain and gives users access to staking, Venice Pro, and DIEM minting.

The project describes VVV as “the privacy coin for AI.” Venice also says platform revenues support monthly VVV buybacks and burns, starting from November 2025.

Crypto.news previously reported that Venice, backed by Erik Voorhees, launched VVV on Base in January 2025. The earlier report said the token was designed to make Venice’s API more accessible by allowing AI agents to stake VVV for ongoing access to generative text, image, and code tools.

Korean listings keep moving markets

The VVV listing comes during a busy stretch for Upbit additions. Recent market updates showed that Upbit listed Pharos with KRW, BTC, and USDT pairs on May 8, while PROS jumped 47.8% after new Korean market access.

Crypto.news also noted that Upbit recently added B3 to its Korean won market and listed Dogwifhat with KRW, BTC, and USDT pairs. Those listings show how Korean exchange access can lift trading activity, though price moves can fade quickly after the first reaction.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Bernstein has maintained its Outperform rating on Circle Internet Group with a $190 price target after the company’s $222 million ARC token presale and continued USDC growth helped offset pressure from falling reserve income.

Summary

Bernstein kept its Outperform rating on Circle and set a $190 price target after the company raised $222 million through its ARC token presale.

USDC supply reached $77 billion in Q1, while Circle Payments Network annualized transaction volume approached $10 billion.

Bernstein said Arc’s testnet processed more than 244 million transactions as Circle expanded its AI-focused payment infrastructure around USDC.

According to a Tuesday client note from Bernstein analysts led by Gautam Chhugani, the brokerage sees Circle’s expanding blockchain and payments business as supporting earnings visibility even as lower interest rates reduced reserve-related revenue during the first quarter.

Circle shares closed at $131.76 on Monday, based on data from Yahoo Finance, leaving Bernstein’s target roughly 44% above the current level.

The analysts said Circle generated $694 million in Q1 revenue and reserve income, up 20% from a year earlier, although the figure came in around 4% below consensus expectations due to weaker reserve income. Adjusted EBITDA reached $151 million, about 10% ahead of analyst estimates, while Circle maintained what Bernstein described as disciplined operating costs.

At the same time, Bernstein pointed to the company’s ARC token presale as an additional revenue contributor after Circle raised $222 million at a $3 billion fully diluted valuation for Arc, its planned Layer 1 blockchain. Earlier disclosures from Circle showed the round included investors such as Andreessen Horowitz, BlackRock, Apollo Global Management, ARK Invest, and Standard Chartered.

USDC supply growth remains central

Within the same note, Bernstein said USDC circulation climbed to $77 billion during the first quarter, rising 28% year over year and 2% from the previous quarter. The brokerage also noted that Circle’s on-platform USDC balances increased to $13.7 billion, representing 18% of the total supply, even while the crypto market had fallen roughly 40% since October 2025.

Circle previously reported that USDC processed $21.5 trillion in on-chain transaction volume during Q1, up 263% from a year earlier. Stablecoin regulation in the U.S. and Europe has also supported adoption after frameworks such as the GENIUS Act and MiCA established clearer rules for issuers.

Elsewhere in the business, Bernstein highlighted growth in Circle’s payments network, which reached nearly $10 billion in annualized transaction volume with 136 financial institutions onboarded as of May 7. Circle has also expanded partnerships with firms including Meta, DoorDash, and Kyriba.

Arc blockchain and AI payment tools gain attention

Ahead of Arc’s planned mainnet rollout later in 2026, Bernstein said the blockchain’s testnet has already processed more than 244 million cumulative transactions and attracted 1.6 million unique wallets.

Circle has described Arc as a blockchain built for institutional finance and stablecoin payments. In earlier comments to CNBC, Circle CEO Jeremy Allaire said the company was “entering the operating system business” through a distributed network model tied to the ARC token.

Bernstein also focused on Arc’s “agentic” infrastructure, particularly the x402 standard for machine-to-machine micropayments. According to the brokerage, USDC currently handles more than 99% of all x402-based agentic payments settled globally.

Recent announcements from Circle have tied those tools to AI-focused payment infrastructure through products such as Circle CLI, Agent Wallets, and Agent Marketplace. Circle has said the services are designed to support USDC payments across blockchains and traditional payment systems for software agents and automated applications.

Meanwhile, Circle’s fiscal 2026 guidance remains unchanged. Bernstein said the company still expects a 40% compound annual growth rate in USDC supply, while projecting non-float revenue between $150 million and $170 million. 

The brokerage added that current guidance does not yet include financial contributions from the ARC token presale, which Circle plans to recognize as other revenue once token delivery takes place.

U.S. spot XRP exchange-traded funds have pulled in their largest daily inflow in roughly four months.

Summary

U.S. spot XRP ETFs recorded $25.8 million in daily inflows, the highest level since January.

Franklin Templeton, Bitwise, and Grayscale all posted positive XRP ETF flows, according to SoSoValue data.

According to SoSoValue data, spot XRP ETFs listed in the U.S. recorded combined net inflows of $25.8 million on May 11, the strongest single day of inflows since Jan. 5. 

Franklin Templeton’s XRPZ accounted for the largest share with $13.6 million in new capital, while the Bitwise XRP ETF added $7.6 million and Grayscale’s GXRP attracted $4.6 million.

Institutional demand has been building across several crypto ETF products in recent weeks as money continues moving into regulated digital asset vehicles. 

Bitcoin ETFs have now recorded seven consecutive weeks of positive flows, bringing in more than $3.4 billion during that period, while Solana ETFs saw $26.6 million in daily inflows, their highest level since February. 

Ether ETFs moved in the opposite direction, posting roughly $16.9 million in net outflows on the same day, according to SoSoValue data.

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At the same time, Ripple has continued expanding its institutional finance business through brokerage, custody, and tokenized asset initiatives tied to the XRP Ledger ecosystem.

Last week, Ripple said it completed a pilot cross-border payment transaction backed by tokenized U.S. Treasuries alongside JPMorgan Chase, Mastercard, and Ondo Finance. The transaction used infrastructure connected to XRPL and formed part of Ripple’s push into institutional settlement services.

Days earlier, Ripple’s prime brokerage arm secured up to $200 million in financing from asset manager Neuberger Berman to expand margin lending and multi-asset trading services for institutional clients. The credit facility would support trading activity across crypto, equities, fixed income, and foreign exchange markets through Ripple Prime.

At the time of publication, XRP was trading at $1.46, up 0.4% over the previous 24 hours.

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TRON traded near $0.349 after a steady three-month rally, with live market data showing a small intraday decline. 

Summary

TRON traded near $0.349 as RSI moved above 75, showing strong but stretched momentum.

Santiment said crowd FUD may support TRX as skeptical traders keep doubting the rally.

TRON’s USDT role remains a major growth driver, but scrutiny over illicit flows persists.

Crypto.news price data also placed TRON (TRX) near $0.351, with a 24-hour range of $0.349241 to $0.352492. The same data showed a market cap above $33 billion and 24-hour volume near $447 million.

Meanwhile, Santiment said TRON has gained about 26% over the past three months, while crowd discussion remains mixed. The analytics firm linked part of the rally to persistent doubt around the project and its founder, Justin Sun.

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The firm said many traders still view TRON as “too risky” or “too controversial” compared with newer crypto themes such as AI and DeFi. It also argued that markets often move against crowd expectations when sentiment becomes too one-sided.

TRX chart shows strong momentum

TradingView chart shows TRX in a clear uptrend from early February lows near $0.27 toward the $0.35 area. Price action has formed higher lows and higher highs through March, April, and early May.

The RSI reading sits at near 76, above the 70 level often used to mark overbought conditions. That suggests strong buying pressure, but it also shows the rally may be stretched in the short term.

At the same time, the MACD line sits at 0.00777, above the signal line at 0.00664. That setup still supports bullish momentum, while the histogram remains positive at 0.00112.

Source: TradingView

However, the latest candles show TRX pausing near the recent high. If buyers keep price above the $0.34 to $0.345 area, the trend may stay supported. A move below that zone would point to a deeper cool-off after the recent climb.

USDT activity remains central to Tron

TRON’s role in stablecoin transfers remains one of its largest market drivers. Earlier crypto.news coverage said TRON had extended its USDT lead over Ethereum, with rising active addresses and record weekly transaction volumes linked to stablecoin use.

That same stablecoin activity has also drawn scrutiny. Crypto.news previously reported that Tether froze USDT across Ethereum and Tron addresses, while a Tether-backed crime unit later froze more than $300 million in illicit assets.

Moreover, TRON has also gained wider market visibility. As crypto.news reported, Moscow Exchange plans to add a TRX index from May 13, using pricing data from Binance, Bybit, OKX, and Bitget for professional investors.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Sui price continued consolidating near recent highs on Monday after posting one of the strongest weekly rallies among major cryptocurrencies, raising expectations that bulls could soon attempt a retest of the key $1.50 resistance level.

Summary

Sui price rallied more than 30% in a week, with the token climbing from below $0.95 to highs near $1.40 before consolidating.

Nasdaq-listed SUI Group Holdings removed 108.7 million SUI from circulation through staking, tightening available supply on the market.

Bullish MACD momentum and rising ecosystem adoption have increased expectations for a potential move toward the key $1.50 resistance zone.

According to data from crypto.news, Sui (SUI) traded around $1.26 at press time on May 12 after rallying more than 30% over the past seven days. The token recently surged from below $0.95 to highs near $1.40 before facing mild profit-taking near local resistance.

The latest rally came as investor sentiment around the Sui ecosystem continued improving following several major institutional and ecosystem developments over recent weeks.

One of the biggest catalysts remains the growing supply squeeze created by Nasdaq-listed SUI Group Holdings. The company previously moved its entire treasury of 108.7 million SUI tokens into direct staking on the network, effectively removing nearly 2.7% of the token’s circulating supply from active market trading.

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The reduced liquid supply helped strengthen bullish momentum as demand for the token accelerated alongside improving market conditions across the crypto sector.

At the same time, Mysten Labs recently revealed plans to launch confidential transactions and fee-free stablecoin transfers on the Sui blockchain later this year, developments that significantly boosted optimism around the network’s long-term adoption potential.

Meanwhile, derivatives activity added further fuel to the rally. CoinGlass data recently showed a sharp increase in short liquidations as bearish traders were forced to close positions during SUI’s rapid breakout above the psychological $1.00 resistance zone.

The combination of improving fundamentals, tightening supply conditions, and aggressive short covering helped drive one of SUI’s strongest weekly performances in months.

Sui price analysis

On the daily chart, SUI recently confirmed a powerful breakout above the key $1.00 resistance region after spending several months consolidating between roughly $0.85 and $1.05.

Sui price, MACD, and RSI chart — May 12 | Source: crypto.news

The rally pushed SUI toward the major horizontal resistance zone near $1.50, a level that previously acted as a strong support area before the broader market correction earlier this year.

Momentum indicators continue to favor the bulls despite some signs of short-term cooling. The MACD remains firmly bullish following a strong positive crossover, while the histogram continues printing expanding green bars, suggesting upward momentum remains intact.

Meanwhile, the RSI recently climbed above 73 before easing slightly lower, indicating that SUI briefly entered overbought territory during the rally. While this could trigger temporary consolidation or mild pullbacks, the indicator still remains above its signal line, showing buyers largely remain in control.

If bullish momentum continues building above the current consolidation zone, SUI could soon attempt another breakout toward the key $1.50 resistance level. A decisive move above that area could potentially open the door toward higher resistance zones not seen since early 2026.

On the downside, failure to hold above the $1.20 support region could trigger profit-taking and pull SUI back toward the previous breakout zone near $1.00 before buyers attempt another upward move.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

SUI jumped about 31% after Nasdaq‑listed SUI Group moved 108.7m SUI into staking, tightening a float that’s already ~74% locked and sending open interest above $620m.

Summary

Sui’s SUI token has spiked roughly 31% to about $1.40, driven by Nasdaq-listed SUI Group Holdings shifting its entire 108.7 million SUI stack — around 2.7% of circulating supply — from DeFi into direct staking.

Open interest in SUI futures has surged from roughly $450 million to more than $620 million as traders pile into what some on Crypto Twitter are calling the “star of the next rally.”

Veteran chartist Peter Brandt has flagged what he calls a “major bottom” on the weekly chart, saying SUI’s price will “trend substantially higher from current levels.”

SUI (SUI) ripped higher by about 31% over the last 24 hours to trade around $1.40, making it the day’s largest gainer among the top‑10 cryptocurrencies by market cap and the #1 trending coin on CoinGecko. The move follows a stretch of accumulation where, as one crypto.news story noted, Sui had already rallied roughly 40% to around $1.41 on May 10, with about $3.13 million in liquidations — nearly 90% from shorts — helping fuel a classic short squeeze.

SUI’s supply shock and open interest spike

The catalyst this time is overtly supply‑side. SUI Group Holdings, a Nasdaq‑listed company trading under ticker SUIG, disclosed on May 7 that it holds 108,728,129 SUI and has now moved “substantially all of it” into direct staking, an amount representing about 2.7% of circulating supply. An earlier analysis on MEXC described the same shift as a “supply shock loading,” noting that SUI’s daily yield on that stake is roughly 5,200 SUI at an annual rate near 1.8%, and that “volume backed the move” as price pushed through prior resistance around $1.08.

That matters because SUI was already heavily locked. According to research cited by Coinpedia, nearly 74% of total SUI supply is staked, meaning only a thin float remains available for active trading. The combination of another 2.7% of supply leaving DeFi liquidity pools, CME Group’s recent launch of SUI futures, and a $3 million SUI incentive program has created what one analyst described as “a clear, rational backdrop” for the latest upside move.

Brandt’s “major bottom” call and what history says

The technical backdrop is now catching up with the on‑chain story. Veteran trader Peter Brandt, known for his long track record in commodities and for calling Bitcoin’s 2018 crash, published an X post over the weekend calling SUI’s structure a “major bottom.” “This is a major bottom. Price will trend substantially higher from current levels,” Brandt wrote alongside a weekly chart, while a follow‑up piece added that this is his “first time bullish on SUI” and that the token sits at “an important bottom” from which it “could experience a sharp price increase.”

Brandt’s call aligns with several prior inflection points captured in crypto.news coverage, where SUI’s rallies have often followed a combination of strong fundamentals and futures‑market positioning. A 2024 story highlighted how SUI became the top gainer as open interest hit an all‑time high of $564 million, while another story traced a six‑month peak to USDC integration and surging on‑chain activity.

At the same time, past episodes underscore that supply can cut both ways. In April 2025, a crypto.news report warned that a $265 million SUI token unlock — about 74 million tokens, or 2.28% of circulating supply — could cap gains after a 61% weekly rally, a reminder that unlock calendars still matter even when staking reduces immediate float. For now, though, with approximately three‑quarters of supply staked, a Nasdaq‑listed treasury pushing another 108.7 million SUI into long‑term positions, and open interest jumping from roughly $450 million to over $620 million, the market is treating SUI as one of the clearest high‑beta plays on the next leg of the crypto cycle.

SUI’s supply shock and open interest spike

SUI ripped higher by about 31% over the last 24 hours to trade around $1.40, making it the day’s largest gainer among the top‑10 cryptocurrencies by market cap and the #1 trending coin on CoinGecko. The move follows a stretch of accumulation where, as one crypto.news story noted, Sui had already rallied roughly 40% to around $1.41 on May 10, with about $3.13 million in liquidations — nearly 90% from shorts — helping fuel a classic short squeeze.

The catalyst this time is overtly supply‑side. SUI Group Holdings, a Nasdaq‑listed company trading under ticker SUIG, disclosed on May 7 that it holds 108,728,129 SUI and has now moved “substantially all of it” into direct staking, an amount representing about 2.7% of circulating supply. An earlier analysis on MEXC described the same shift as a “supply shock loading,” noting that SUI’s daily yield on that stake is roughly 5,200 SUI at an annual rate near 1.8%, and that “volume backed the move” as price pushed through prior resistance around $1.08.

That matters because SUI was already heavily locked. According to research cited by Coinpedia, nearly 74% of total SUI supply is staked, meaning only a thin float remains available for active trading. The combination of another 2.7% of supply leaving DeFi liquidity pools, CME Group’s recent launch of SUI futures, and a $3 million SUI incentive program has created what one analyst described as “a clear, rational backdrop” for the latest upside move.

Read more: BNB price targets $785 following breakout above descending triangle resistance

Brandt’s “major bottom” call and what history says

The technical backdrop is now catching up with the on‑chain story. Veteran trader Peter Brandt, known for his long track record in commodities and for calling Bitcoin’s 2018 crash, published an X post over the weekend calling SUI’s structure a “major bottom.” “This is a major bottom. Price will trend substantially higher from current levels,” Brandt wrote alongside a weekly chart, while a follow‑up piece added that this is his “first time bullish on SUI” and that the token sits at “an important bottom” from which it “could experience a sharp price increase.”

Brandt’s call aligns with several prior inflection points captured in crypto.news coverage, where SUI’s rallies have often followed a combination of strong fundamentals and futures‑market positioning. A 2024 story highlighted how SUI became the top gainer as open interest hit an all‑time high of $564 million, while another story traced a six‑month peak to USDC integration and surging on‑chain activity.

At the same time, past episodes underscore that supply can cut both ways. In April 2025, a crypto.news report warned that a $265 million SUI token unlock — about 74 million tokens, or 2.28% of circulating supply — could cap gains after a 61% weekly rally, a reminder that unlock calendars still matter even when staking reduces immediate float. For now, though, with approximately three‑quarters of supply staked, a Nasdaq‑listed treasury pushing another 108.7 million SUI into long‑term positions, and open interest jumping from roughly $450 million to over $620 million, the market is treating SUI as one of the clearest high‑beta plays on the next leg of the crypto cycle.

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Internet Computer price extended its explosive rally this week, climbing nearly 70% over the past seven days as investors increasingly bet on the project’s push into decentralized cloud infrastructure and AI-focused blockchain services.

Summary

Internet Computer price surged nearly 70% in a week, with ICP climbing from around $2.10 to highs near $3.75 amid strong buying momentum.

DFINITY’s fully on-chain WordPress demo and the new “Mission 70” tokenomics overhaul boosted investor optimism around ICP’s long-term utility.

ICP confirmed a breakout above the $2.60 resistance zone, while bullish MACD and Supertrend signals pointed toward possible upside near $4.00.

According to data from crypto.news, Internet Computer (ICP) price surged from around $2.10 earlier this week to highs near $3.75 on May 11 before stabilizing around the $3.55 level at press time. The rally made ICP one of the top-performing large-cap cryptocurrencies over the past week.

The biggest catalyst behind the move came after the DFINITY Foundation revealed that WordPress can now run entirely on the Internet Computer blockchain. The demonstration showed the frontend, backend database, and admin functions operating fully on-chain, strengthening the narrative that ICP could become a viable decentralized alternative to traditional cloud infrastructure providers.

Investor sentiment improved further after DFINITY introduced “Mission 70,” a major tokenomics overhaul designed to reduce ICP’s annual inflation rate by as much as 70% by the end of 2026. The proposal also includes a new 20% revenue-based token burn mechanism that could gradually shift ICP toward a deflationary model over time.

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At the same time, traders reacted positively to the project’s “Cloud Engines” showcase held on May 10, which demonstrated enterprise-grade AI subnets capable of hosting decentralized artificial intelligence workloads directly on-chain. The event positioned ICP as one of the major blockchain projects attempting to capitalize on the growing demand for decentralized AI infrastructure.

The combination of improving fundamentals, reduced inflation expectations, and growing AI-related optimism triggered aggressive buying activity across spot markets, while short liquidations further accelerated the rally.

On the daily chart, ICP price confirmed a strong breakout above the key $2.60 resistance zone after spending several weeks consolidating between roughly $2.20 and $2.50.

Internet Computer price, Supertrend, and MACD chart — May 11 | Source: crypto.news

The rally also pushed ICP sharply above the Supertrend indicator, which has now flipped green for the first time since January, signaling that bullish momentum may be regaining long-term control.

Momentum indicators continue to support the bullish structure despite signs of short-term overheating. The MACD recently completed a strong bullish crossover while the histogram continues printing expanding green bars, suggesting upward momentum remains intact.

ICP is now attempting to stabilize above the psychological $3.50 region after briefly touching highs near $3.75. If bulls maintain control above the breakout zone near $3.00, the next major resistance could emerge around the $4.00 to $4.10 region, which previously acted as a strong rejection zone earlier this year.

On the downside, failure to hold above the $3.00 support region could trigger profit-taking and pull Internet Computer price back toward the previous consolidation range near $2.60 before another potential upward move.

Internet Computer surged nearly 70% in a week after DFINITY unveiled fully on-chain WordPress hosting and a plan to cut ICP inflation by 70%.

Read more: BNB price targets $785 following breakout above descending triangle resistance

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Pi Network price remained under pressure on Monday as weakening momentum indicators and growing concerns surrounding upcoming token unlocks raised the risk of another decline toward the $0.15 support zone.

Summary

Pi Network price traded near $0.173 after failing to sustain its recovery from March highs around $0.30 amid weakening market momentum.

Upcoming Pi token unlocks and increasing circulating supply have raised concerns about additional selling pressure in the near term.

Technical indicators, including a bearish MACD divergence and Supertrend sell signal, suggest PI could retest support near $0.15 if current weakness persists.

According to data from crypto.news, Pi Network (PI) traded around $0.173 at press time on May 11, struggling to sustain the recovery attempt seen late last month. The token has now fallen sharply from its March peak near $0.30 and continues consolidating close to its recent lows.

Pi Network has lagged behind many large-cap altcoins as traders remain cautious over the token’s supply dynamics and still-limited exchange liquidity.

One of the main bearish catalysts remains Pi Network’s ongoing token unlock schedule. Over 174 million of previously locked PI tokens are still expected to enter circulation by the end of this month as more users complete migration and KYC processes.

Such unlocks often increase selling pressure because early holders and miners may choose to take profits after extended lockup periods. The growing circulating supply could continue weighing on price unless demand rises at a similar pace.

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At the same time, market participants remain uncertain over the timeline for broader ecosystem utility and exchange expansion. While Pi Network continues developing its infrastructure and migration process, traders appear to be waiting for stronger real-world adoption catalysts before aggressively re-entering positions.

On the daily chart, PI continues trading inside a broader downtrend after failing to hold above the March breakout rally. Price action has now formed a series of lower highs while struggling to build sustained bullish momentum.

Pi Network price, MACD, and Supertrend chart — May 11 | Source: crypto.news

The chart also shows a developing bearish divergence between price and the MACD indicator. While PI attempted several short-term rebounds in recent weeks, the MACD histogram and signal lines continued weakening, suggesting bullish momentum has steadily faded underneath the surface.

Meanwhile, PI remains below the key 23.6% Fibonacci retracement level near $0.195 and continues hovering close to the lower end of the retracement range. Failure to reclaim that resistance area may encourage sellers to maintain control over the near-term trend.

The Supertrend indicator has also flipped bearish again, with resistance now sitting near the $0.185 region. As long as price remains below that level, downside risks could continue dominating short-term sentiment.

If selling pressure accelerates further, PI could revisit the major support zone near $0.163, which aligns with the 0% Fibonacci retracement level shown on the chart. A breakdown below that area may expose the token to a deeper correction toward the psychological $0.15 level.

On the upside, bulls would need to reclaim the $0.195 resistance region to invalidate the bearish setup and potentially reopen the path toward the 38.2% Fibonacci retracement level near $0.215.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Ripple CTO Emeritus David Schwartz entered a Solana privacy discussion on X after Helius CEO Mert Mumtaz asked for name ideas for a new protocol. 

Summary

David Schwartz suggested names including Umbra, Veil, Solstice, Nyx, Specter, Obsidian, and Obscurant.

The exchange linked Ripple and Solana figures around the shared issue of blockchain privacy.

Recent coverage shows Solana and ZK teams are already pushing privacy-focused infrastructure forward.

Schwartz suggested several names, including Umbra, Solstice, Veil, Specter, Obsidian, Nyx, and Obscurant.

The exchange drew attention because Schwartz is closely tied to the XRP Ledger, while Mumtaz is one of the most visible builders in the Solana ecosystem. It also came as privacy tools gained new interest across crypto markets and developer circles.

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Privacy becomes a shared topic

Schwartz wrote, “Most of these are probably taken, but they sound cool. To me, anyway.” The wording showed that the post was a light naming suggestion, not an official Ripple or Solana product announcement.

The exchange pointed to a rare moment of overlap between XRP and Solana communities. Still, it should be treated with care, as the public post only showed a naming reply, not a formal partnership between Ripple, Helius, or Solana Labs.

Meanwhile, recent coverage shows that Solana privacy work has moved beyond social media debate. crypto.news reported in April that SOL Strategies agreed to buy Darklake Labs, a Solana-native zero-knowledge privacy startup, in a $1.2 million cash-and-stock deal.

Darklake’s Zyga system targets private transaction execution and MEV protection on Solana. The product aims to hide sensitive order data while still allowing validators to verify transactions through zero-knowledge proofs.

XRP link adds wider context

Schwartz has remained active in public XRP discussions since stepping back from Ripple’s daily CTO role. crypto.news reported that he became CTO emeritus after saying he would leave day-to-day duties while staying involved with Ripple’s board and XRPL projects.

Recent coverage also showed that Schwartz remains a central voice in XRP debates. crypto.news reported on May 5 that he said his remaining crypto exposure is now mostly tied to XRP and Ripple equity.

ZK privacy gains market attention

The privacy debate also extends beyond Solana and XRP. crypto.news recently covered a Coinbase-led study with Stanford and Ethereum Foundation researchers that found some zero-knowledge privacy systems are not exposed to the same quantum risks as standard blockchain signatures.

Mumtaz has also linked privacy to crypto’s core use case. In earlier crypto.news coverage, he said, “privacy is not a narrative, private money is the entire purpose of crypto.” That remains one market participant’s view, but it helps explain why a protocol-name request drew attention across rival communities.

Read more: Bitcoin leads $858M crypto fund inflows as CLARITY Act hopes grow: CoinShares

Sui price rallied to a 4-month high of $1.41, becoming one of the best-performing major crypto assets on Monday.

Summary

SUI rallied nearly 40% to a four-month high of $1.41 after breaking out of a bullish symmetrical triangle pattern on the daily chart.

Nasdaq-listed SUI Group Holdings staked 108.7 million SUI tokens worth roughly $143 million, removing nearly 2.7% of the circulating supply from the open market.

Over $3.13 million in trader liquidations, mostly from short positions, amplified SUI’s rally as Peter Brandt and other analysts signaled a potential long-term bottom for the token.

According to data from crypto.news, Sui (SUI) price rallied nearly 40% from $1 to $1.41 on Monday before stabilizing near $1.27 at press time. At this price, the token remains nearly 35% above its value in the past three months.

Several catalysts appear to have driven the sharp breakout above the $1 figure, including a bullish breakout from a symmetrical triangle pattern on the daily chart. A bullish breakout from such a pattern often signals a massive trend reversal and can lead to a sustained period of price appreciation as buyers gain control.

Sui price has broken out of a symmetrical triangle pattern on the daily chart — May 11 | Source: crypto.news

First, Sui has been gaining strong momentum from several institutions, which has attracted investors’ attention towards its growing ecosystem.

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Notably, Nasdaq-listed SUI Group Holdings moved its entire treasury of 108.7 million SUI tokens, worth approximately $143 million, into direct staking on the network. This has effectively removed nearly 2.7% of the circulating SUI supply from the open market and has created a supply squeeze, which significantly bolstered the price.

Adding to the optimism at the Consensus 2026 conference, Mysten Labs co-founder Adeniyi Abiodun revealed that confidential transactions for private payments and fee-free stablecoin transfers will launch on the Sui network later this year. These features would offer users unprecedented privacy and cost efficiency.

Meanwhile, African fintech giant Paga announced on the same day a deep integration with Sui to power cross-border payments using stablecoins.

Second, Sui’s sudden price surge triggered roughly $3.13 million in liquidations from exchange traders, with nearly 90% coming from short positions. This then forced short sellers to buy back the token, pushing SUI prices even higher in a classic short squeeze scenario.

Third, multiple market analysts, including Peter Brandt, have identified a weekly bottom for SUI on May 11, and have predicted a significant price increase for the token in the upcoming sessions as it moves into a new phase of growth.

This is a major bottom. Price will trend substantially higher from current levels$SUIUSDT pic.twitter.com/YS2iiWpKyJ

— The Factor Report (@PeterLBrandt) May 10, 2026

Read more: Crypto.com wins UAE license to unlock Dubai government crypto payments

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Crypto.com said its UAE entity, Foris DAX Middle East FZE, received a Stored Value Facilities license from the Central Bank of the UAE. 

Summary

Crypto.com became the UAE’s first VASP with an SVF license from the Central Bank today.

Dubai residents can pay government fees with virtual assets through Crypto.com’s licensed UAE platform soon.

Settlements will use UAE dirhams or approved dirham-backed stablecoins under the SVF framework only locally.

The company said it is the first Virtual Asset Service Provider in the Emirates to receive the license.

The approval moves Crypto.com from earlier in-principle status to a licensed setup for stored-value payment services. crypto.news reported in October 2025 that the company had received in-principle approval for the same SVF license, pending final technical and compliance checks.

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Dubai government fee payments move closer

The license allows Crypto.com to activate its partnership with the Dubai Department of Finance. The plan will let UAE residents pay Dubai government fees using virtual assets through Crypto.com’s regulated platform.

Crypto.com said all settlements will happen in UAE dirhams or CBUAE-approved dirham-backed stablecoins under the SVF framework. This means government entities will receive local-currency settlement, while users can start payments with supported digital assets.

Additionally, Crypto.com said users who want to access the service must be onboarded through its VARA-licensed platform. The company also said it is the only VASP with an SVF license in the UAE at the time of the announcement.

The company framed the approval as a compliance step. Eric Anziani, President and COO of Crypto.com, said the license showed its “strong commitment to compliance.” That statement reflects the company’s view and has not been independently tested in the announcement.

Emirates and Dubai Duty Free could follow

Crypto.com said the license may also allow it to start crypto payment integrations with Emirates Airlines and Dubai Duty Free after required CBUAE approvals. Emirates signed an MoU with Crypto.com in July 2025 to explore adding Crypto.com Pay to its payment systems.

The update also fits Dubai’s wider cashless plan. The Dubai Cashless Strategy aims for 90% cashless transactions across government and private sectors by 2026. crypto.news has also covered Dubai’s wider digital asset push, including payments, tokenized assets, and regulated crypto products.

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Bank of England Governor Andrew Bailey has warned that international regulators could face a difficult confrontation with the United States over how stablecoins should be governed across global payment systems.

Summary

Andrew Bailey said global regulators may clash with the U.S. over stablecoin rules and international payment standards.

The Bank of England governor warned that some dollar stablecoins may not remain easily redeemable during market stress.

According to Reuters, Bailey said at a conference on Friday that stablecoins would only function properly in international payments if regulators agreed on common standards, adding that discussions with the U.S. administration were likely to become a “coming wrestle.”

Bailey’s comments came as the Trump administration continued backing stablecoin adoption through the GENIUS Act, which established a regulatory framework for issuers in the U.S. Dollar-backed stablecoins currently dominate the sector, with CoinGecko data valuing the market at more than $317 billion.

Most of the largest stablecoins are tied to the U.S. dollar and rely on reserves such as Treasury bills and cash held in dollars. Regulators outside the U.S., including officials in the UK, have repeatedly argued that stablecoins could create risks for the banking system if oversight remains too light.

Serving as chair of the Financial Stability Board, Bailey said he still viewed stablecoins as a potential financial stability risk. He told the conference that some stablecoins may not be easily redeemable for cash without going through crypto exchanges, which could create problems during periods of market stress.

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Concerns over convertibility have shaped the Bank of England’s own regulatory proposals. In consultation papers released in November 2025, the central bank proposed temporary limits of £20,000 for individual stablecoin holdings and £10 million for corporate balances as part of its planned framework for pound-backed stablecoins.

Bank of England keeps stricter line on stablecoins

Under the Bank of England proposal, issuers would also be required to hold 40% of their reserves as non-interest-bearing deposits at the central bank, while the remaining 60% could be invested in short-term UK government debt.

At the time, the Bank of England said the structure was designed to support redemptions during periods of stress and maintain confidence in stablecoin reserves. Exemptions were included for firms such as supermarkets and crypto trading platforms that may need larger balances for operational reasons.

Bailey has repeatedly questioned whether stablecoins could weaken state control over money if they grow without strong safeguards. Last year, he said stablecoins “have to maintain their nominal value” because they are being designed to function as money and payment instruments.

Friday’s remarks also touched on cross-border flows. Bailey warned that if hard-to-redeem dollar stablecoins spread internationally, countries such as the UK could end up absorbing redemption pressure during a market panic.

“We know what would happen if there was a run on a stablecoin; they’d all turn up here,” Bailey said, according to Reuters.

Similar concerns have surfaced in Washington during negotiations over crypto legislation. U.S. banking groups have urged lawmakers to prohibit crypto platforms from offering yield on stablecoins, arguing that such products could compete with bank deposits while operating outside traditional banking rules.

Negotiators failed to reach a full agreement after months of talks. The latest draft of the Senate market structure bill bans rewards on idle stablecoin balances while still allowing platforms to provide other customer incentive programs.

The Senate Banking Committee, which delayed a vote on the legislation earlier this year, is scheduled to hold a markup session on Thursday.

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Cardano’s Web3 wallet Lace has received fresh updates as the network prepares for the Van Rossem hard fork. 

Summary

Lace 2.0.3 fixed migration, DApp connection, loading, and legacy wallet issues.

Lace 2.0.4 added view mode options, auto-lock settings, and language fixes.

Cardano’s Van Rossem hard fork targets Protocol Version 11 in late June.

The wallet’s recent 2.0 releases focus on smoother migration, better DApp access, and easier wallet use.

Lace 2.0 brings Cardano, Midnight, and Bitcoin into one wallet interface. The update aims to reduce the need for users to move between separate wallets when managing assets across ecosystems.

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Lace 2.0.3 and 2.0.4 improve user access

Lace 2.0.3 fixed a white screen issue that stopped some users from completing migration or connecting to DApps. It also fixed a problem affecting some older wallets imported from Nami.

Lace 2.0.4 added a default view mode, letting users switch between Side Panel and Tab. It also introduced an auto-lock timer and fixed missing Spanish and Japanese translations.

Moreover, Cardano is preparing the Van Rossem hard fork, an intra-era upgrade to Protocol Version 11. The upgrade is expected to improve Plutus performance, ledger consistency, and node-level security.

Cardano Node 11.0.1 Pre-Release is required to safely cross the hard fork. Stake pool operators and developers on preview have been asked to upgrade before the mainnet step.

Network upgrade avoids major disruption

The Van Rossem upgrade does not move Cardano into a new era. That matters because transaction formats remain unchanged, reducing work for wallets, DApps, and exchanges.

“Late June 2026” remains the date to watch, but the rollout still depends on readiness and governance steps.

Read more: Bitcoin stays bullish above 21-MA as altcoins flash danger signs

Bitcoin (BTC) traded near $80,874 on May 10, with an intraday high of $81,026 and a low of $80,237. The move kept BTC close to the $81,000 area after a steady weekly recovery.

Summary

Van de Poppe says Bitcoin can grind higher while price holds above the 21-MA.

The $79K and $76K levels remain key supports for Bitcoin’s short-term structure.

CryptoQuant data shows Bitcoin’s aSOPR stayed above 1 for nine straight days.

Michaël van de Poppe said Bitcoin’s setup remains simple. In his view, BTC can keep moving higher as long as price stays above the 21-period moving average.

Van de Poppe pointed to $79,000 as the main short-term support. He added that $76,000 could still protect the broader structure if Bitcoin loses the first level.

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“As long as the 21-MA remains beneath price” remains the key condition in his outlook. The view depends on Bitcoin holding its trend and avoiding a deeper move below support.

Bitcoin profit-taking signal improves

CryptoQuant analyst Carmelo Alemán said Bitcoin’s adjusted SOPR has stayed above 1 for nine straight days since May 1. The metric tracks whether spent BTC moved at a profit or loss.

A reading above 1 shows that sellers are realizing profits. Alemán said the longer streak makes the signal less noisy and shows the market has absorbed profit-taking so far.

Altcoin strength brings correction warning

Van de Poppe also warned that more altcoins are showing strength. He said that phase may continue for several weeks but could mark the later stage of this upward run.

He warned that some altcoins could face 30% to 50% corrections around June or July. For Bitcoin, he still sees $86,000 to $88,000 as the next major resistance zone, followed by $93,000 to $95,000 near the 50-week moving average.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.