Crypto Industry News & Market Trends

SOL’s 30% Open Interest Drop Puts $68 Back In Focus

Tech　　SOLs 30% Open Interest Drop Puts $68 Back In Focus　　Bitcoin Ethereum News　　Solana (SOL) futures dropped sharply in May as traders reduced leveraged exposure across all exchanges. SOL open interest (OI) dropped to $1.90 billion on Thursday from $2.75 billion on May 11, a 30% decline, while funding rates remained close to neutral. The combination points to weakening investor sentiment as SOL eyes a retest of its yearly low at $68.　　SOL spot demand offsets futures market weakness　　The aggregated funding rate for Solana futures held near -0.005, showing balanced positioning between longs and shorts. SOL traders have not built aggressive directional bets despite the recent price slide to $80.　　At the same time, the aggregated futures volume cumulative volume delta (CVD) for stablecoin-margined orders fell to a yearly low of -$13 billion. The CVD tracks whether buyers or sellers are more active over time. The decline signals stronger sell-side pressure in futures markets through May.　　However, spot activity paints a steadier picture. Spot CVD has improved to $350 million since March, showing that buyers have continued to absorb supply on spot exchanges even as derivatives positioning has weakened.　　The positive flows into spot SOL exchange-traded funds (ETFs) to that trend. The monthly net inflows reached

05-30Industry

Can Ripple’s Fed Master Account Approval Trigger A New XRP Bull Run? AI Model Says $80 Is Possible

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.　　Ronaldos journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.　　Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.　　One of Ronaldos defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.　　Ronaldo‘s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others,

05-30Industry

IOTA rockets 14% as whales accumulate - Perps back the move

IOTA has posted a 14% gain, and the conditions supporting further upside remain clearly intact in the near term.　　Spot activity, whale involvement, and perpetual market funding are all aligning to set IOTA up for a continued run in the market, and the convergence of these signals makes the current setup worth paying close attention to.　　Whale delta holds positive as Spot buyers accumulate　　Whale involvement in the IOTA market has been running high, with the whale-versus-retail delta maintaining a positive reading of 0.341 in the market.　　A positive reading in this metric signals that there is ongoing net whale accumulation outpacing retail involvement in the market.　　This trend has been strengthening since the 22nd of May, and given that whales are known to control a significantly larger portion of market liquidity compared to retail traders, their sustained accumulation carries meaningful implications for where price heads next.　　Source: CoinGlass　　The Spot market has reinforced this picture with rising buying activity over the past two days, with accumulation growing significantly within that period.　　Spot netflow data shows net buying has reached approximately $232,000, as traders continue to show clear interest in IOTA and accumulate more of the asset.　　While this figure remains modest on its own, the tendency for the

05-30Industry

Kalshi follows CFTC in suing Minnesota over its law criminalizing prediction markets

Prediction market Kalshi filed a federal lawsuit against a Minnesota bill to criminalize operating, hosting or promoting such a platform in the state starting Aug. 1.　　The filing follows a motion filed by the Commodity Futures Trading Commission (CFTC) on May 19, the day after the law was signed by Governor Tim Walz, arguing that the legislation violated the U.S. Constitution by criminalizing at the state level the operation of prediction markets governed by federal regulators.　　In its filing, Kalshi claimed the law violates the Supremacy Clause of the constitution, which says the federal Commodity Exchange Act (CEA) grants the CFTC “exclusive jurisdiction” over derivatives and swaps traded on designated contract markets (DCMs).　　The platform also challenged a provision that criminalizes the marketing or advertising of prediction markets, saying it violated the First Amendment.　　On Wednesday, U.S. President Donald Trump said it was critically important that the CFTC maintain sole authority over prediction markets, echoing CFTC Chair Michael Seligl.　　Kalshi has recently won similar preliminary injunctions against enforcement attempts in New Jersey and Arizona.　　Prediction markets are facing challenges outside the U.S. and in the past week have been banned in countries including Indonesia, Spain and India.　　The U.S. government is conducting a probe into prediction markets,

05-30Industry

Gemini Taps Grok for Custom AI-Powered Prediction Markets

The tool is powered by Grok, the AI model created by SpaceXAI, a division of Musks rocket-building company SpaceX that runs Grok and the social media website X.　　Gemini is one of several crypto exchanges expanding beyond spot and derivatives trading into prediction markets and AI amid a crypto market slump that has caused trading volumes and profits to sink.　　Last month, Gemini introduced a feature letting users connect AI models like ChatGPT and Claude to their trading accounts to autonomously monitor markets and even execute trades on their behalf.　　Gemini prediction markets revenue hits $400,000 in Q1　　Gemini said in its first quarter results released earlier this month that its prediction markets platform made a revenue of $400,000 from 20,000 users, a fraction of the revenue and users recorded on market leaders Kalshi and Polymarket.　　Gemini reported a 42% year-on-year increase in revenue to $50.3 million for the quarter as it continued expanding from a crypto-native trading platform into a financial services company.　　Gemini also managed to trim its quarterly net loss by 27% year-on-year to $109 million.　　Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraphs Editorial Policy and aims to provide accurate and timely information. Readers are

05-30Industry

Bitcoin Bid Wall Stacks $512M Near $70K as RSI Hits 3-Month Low, Coldcard MK5 Debuts

Bitcoin　　Bitcoin Bid Wall Stacks $512M Near $70K as RSI Hits 3-Month Low, Coldcard MK5 Debuts　　Bitcoin dip buyers have stacked roughly $512 million in limit orders between $72,000 and $68,500, carving out a dense demand zone as the largest cryptocurrency tests the lower edge of its current trading range. Order-book data shows 6,235 BTC parked between $72,000 and $70,000, worth about $443 million at spot, with the heaviest cluster sitting directly above the psychological $70,000 mark. A further 1,012 BTC, valued near $69 million, waits at $68,505. Bid liquidity refers to limit buy orders queued below market price, and when spot trades into those orders it can blunt downside momentum and seed a sharp rebound if demand absorbs available supply.　　Derivatives data reveals a striking asymmetry in liquidation exposure around current levels. Liquidation-heatmap readings put roughly $2 billion in cumulative long positions at risk if Bitcoin taps the $70,000 zone, while more than $5 billion in short positions sit clustered near $78,000. That imbalance hands upside fuel to any squeeze that breaks the descending structure: should the $70,000 bid wall absorb selling, the larger short-side liquidity pool above would become a magnet for price action. Below $68,500 the order book thins considerably,

05-30Industry

Stellar Breaks Out Above $0.20 as CFTC Moves to Vacate $5M Gemini Settlement

Tech　　Stellar Breaks Out Above $0.20 as CFTC Moves to Vacate $5M Gemini Settlement　　Stellar confirmed a high-volume breakout from a multi-week accumulation channel, reclaiming the $0.20 level that had capped price action through April and May 2026. The daily candle pushed the relative strength index up to 80 as buyers absorbed sell pressure that had repeatedly compressed the token toward the channel midline. Above $0.20, technical structure points toward $0.25 and $0.30 as the next upside targets. The reclaim of the long-term midline shifts XLM into one of the strongest momentum setups across major altcoins entering June, though traders are watching for a tactical cooldown given the elevated RSI reading and a tight invalidation if support fails.　　Chainlink presents the inverse setup on price action but the most constructive on-chain footprint among the largest real-world asset tokens. LINK broke down from an ascending parallel channel on May 19 and has continued grinding lower, testing the $7 support zone that anchored the previous accumulation range. Despite the deteriorating chart, wallet data shows whale addresses steadily absorbing supply from smaller holders, a divergence that historically precedes recovery phases. The pattern echoes prior cycles where exchange outflows accelerated into spot weakness. Holders are watching whether

05-30Industry

Sui mainnet suffers two outages in two days as gas logic bug stalls transactions

Trading activity increased during the outage as users reacted to halted network operations and delayed transaction confirmations.　　Though user balances stayed intact on the blockchain network, operations were interrupted, such as slow token transfers, paused DeFi transactions, and inability to transact NFTs and trade.　　The incidents highlighted execution risks for traders and DeFi users who rely on timely transaction settlement.　　Sui faces its second major disruption of 2026　　The outages in May were the second time in the year Sui experienced a major network failure.　　During January 2026, there was a different kind of issue with the consensus that caused an outage lasting about five to six hours due to validators failing to validate new checkpoints.　　While the January and May incidents had different technical causes, both required coordinated validator intervention to restore normal operations.　　Sui confirmed on May 30 that the network had returned to normal operations after validators applied an emergency fix.　　According to the team, a full post-incident review will be published soon, outlining the interaction between the Address Balances feature and gas accounting during epoch transitions.　　Now, developers are observing if there is a need to redesign the feature, if gas accounting needs more separation from the consensus process, and what other measures are required

05-30Industry

Bit Digital (BTBT) Boosts Ethereum Holdings to 158K ETH with $20M Buy

Bit Digital (NASDAQ: BTBT) has ramped up its Ethereum holdings with a $20 million purchase, adding 8,568 ETH to its treasury at an average price of $2,334.25 per token. This acquisition, made on May 11, 2026, pushes the companys total ETH reserves to 158,462 ETH—surpassing Coinbase Global to become the fourth-largest public corporate Ethereum holder, according to CoinGecko data.　　The move reflects Bit Digital‘s ongoing pivot toward an Ethereum-centric strategy. CEO Sam Tabar emphasized that the purchase lowered the firm’s average acquisition cost and aligns with its broader objectives to increase net asset value per share through Ethereum accumulation, AI infrastructure investments, and strategic acquisitions. The company operates across Ethereum treasury management, AI/high-performance computing (HPC), and other blockchain-related ventures.　　Bit Digital‘s Ethereum holdings now outpace Coinbase Global’s 151,175 ETH, signaling aggressive positioning in the race for on-chain dominance among public companies. While BitMine Immersion Technologies leads with over 5.39 million ETH, Bit Digitals latest purchase cements its position among top-tier Ethereum treasury holders.　　Market Context and Performance　　The timing of Bit Digital‘s purchase is noteworthy. Ethereum (ETH) was trading around $2,006.61 as of May 29, 2026, down roughly 60% from its August 2025 all-time high of $4,946. Despite the price weakness, Ethereum’s network fundamentals

05-30Industry

Gemini Introduces AI-Powered Prediction Market Tool with Grok

Crypto exchange Gemini has announced a partnership with SpaceXAI, Elon Musk‘s artificial intelligence division, to integrate Grok, its proprietary AI model, into Gemini’s prediction markets platform. Dubbed “Command Center,” the new feature delivers curated, personalized market feeds based on user activity, including open positions, watchlists, and historical predictions.　　According to Gemini, the tool simplifies decision-making by presenting tailored intelligence across diverse categories such as crypto, sports, commodities, politics, and economics. “Rather than forcing you to dig through social feeds to find whats relevant, Command Center meets you where you are,” the company explained in a blog post.　　The move reflects Geminis broader strategy to expand beyond traditional crypto trading by leveraging AI and prediction markets. These markets allow users to trade event contracts on real-world outcomes, such as cryptocurrency price targets or political events. Despite the ongoing crypto market slowdown, Gemini continues to position itself as a diversified financial services company.　　Prediction Markets: Rising Competition and Revenue　　Prediction markets are becoming an increasingly competitive space for crypto firms. Launched in December 2025 after securing a critical CFTC license, Gemini Predictions™ is fully regulated across all 50 U.S. states. The platform has grown to attract over 20,000 users and generated $400,000 in revenue during Q1

05-30Industry

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