Crypto Industry News & Market Trends

British Pound: Lower against Euro on UK political turmoil – Danske Bank

Finance　　British Pound: Lower against Euro on UK political turmoil – Danske Bank　　Danske Research Team highlights that EUR/GBP moved higher as United Kingdom (UK) political uncertainty intensified. Over 90 MPs called for Prime Minister Starmer to resign and several ministers and aides stepped down. Bond markets fear looser fiscal policy and potential leadership change, which lifted Gilt yields and led markets to price a more hawkish Bank of England (BoE) stance.　　UK politics lift cross higher　　“In the UK, more than 90 MPs called for PM Starmer to step down, and four ministers handed in their resignation yesterday.”　　“Bond markets fear looser fiscal policy in case of a change of leadership, which drove 30Y Gilt yields to the highest levels since 1998.”　　“If Starmer resigns, it could also open up for a more hawkish policy stance from the Bank of England, which was reflected in market pricing yesterday.”　　“EUR/GBP was on the rise following mounting pressure for UK PM Starmer to resign.”　　“With up to 80 Labour MPs having called for Starmer to resign and six ministerial aides quit yesterday, prediction markets have ramped up bets of Starmer being out to around 70% by June and 85% by YE 2026.”

05-13Industry

Small cap, big gains - Decoding the FOMO behind USELESS’s recent 70% surge

Tech　　Small cap, big gains – Decoding the FOMO behind USELESSs recent 70% surge　　Useless [USELESS], the Solana-based memecoin that pokes fun at conventional utility tokens, has rallied by almost 80% over the past week. This memecoin proudly calls itself “the most honest cryptocurrency” and brags of having zero purpose and 100% uselessness.　　It rallied by 7.2% in the last 24 hours and had a $76.96 million market cap at the time of writing. This figure is relatively small though, even for a memecoin. Hence, quick gains and even quicker sell-offs can be expected.　　USELESS vertical rally expectationsSource: X　　In a post on X, user Unipcs, or the Bonk Guy, theorized that USELESS could embark on a silly bullish trend. It has 100 days of consolidation near the $0.04 lows and finally managed to break out above $0.05 recently.　　A long consolidation implies sellers are exhausted, and buyers have been accumulating. A bullish breakout from this consolidation phase, for a small-cap memecoin, could make for a parabolic run.　　The sidelined market participants would be forced to chase the gains across both the spot and futures markets. This FOMO demand can drive USELESS higher with hardly any dips along the way, he argued.　　Memecoins, especially the smaller ones, tend

05-13Industry

ONDO Global Markets reaches $1B in tokenized stock TVL in 8 months

Tech　　ONDO Global Markets reaches $1B in tokenized stock TVL in 8 months　　Ondo Global Markets just hit $1 billion in total value locked across its tokenized stocks and ETFs, and it did so in less than eight months. That makes it the fastest platform to reach this milestone in onchain finance, a category that includes stablecoins, which have had a multi-year head start.　　The numbers behind the milestone　　Ondo Global Markets now holds more than 70% market share in tokenized equities.　　The platform currently offers more than 260 live assets, spanning sectors including AI, biotechnology, defense, and energy.　　Cumulative trading volume has already exceeded $18 billion.　　The platform is currently deployed across Solana, BNB Chain, and Ethereum. More recently, Ondo integrated with Hyperliquid‘s HyperEVM through Ondo Bridge, which allows tokenized stocks and ETFs to flow into Hyperliquid’s trading infrastructure.　　Why tokenized stocks are gaining traction now　　Tokenized stocks on platforms like Ondo offer continuous trading, meaning they arent bound by the 9:30 AM to 4:00 PM Eastern window that governs traditional US stock exchanges. They also enable fractional ownership, which is particularly relevant for high-priced shares that might otherwise be inaccessible to smaller investors in emerging markets.　　Institutional interest has been a major catalyst. Favorable regulatory developments have made

05-13Industry

US Dollar Index: Hawkish repricing supports DXY – OCBC

Finance　　US Dollar Index: Hawkish repricing supports DXY – OCBC　　OCBCs Christopher Wong notes the US Dollar (USD) strengthened after hotter United States (US) Consumer Price Index (CPI) data lifted UST yields and revived Fed hike expectations, with focus now on US Producer Price Index (PPI). He highlights that higher front-end and long-end yields have restored USD support, though the CPI mix does not yet signal a broad inflation breakout. Wong sees USD dips staying supported if markets keep pricing a more hawkish Fed reaction function.　　Rates and inflation keep DXY supported　　“Near term, USD may remain supported on dips if markets continue to price a more hawkish Fed reaction function, especially with oil prices still elevated and inflation risks skewed to the upside.”　　“That said, the CPI mix does not yet point to a broad-based inflation breakout, so USD upside may still require either further upside data surprises, firmer oil, or a deeper deterioration in risk sentiment.”　　“DXY rose; last seen at 98.30 levels. Mild bearish momentum on daily chart faded while RSI rose. 2-way risks likely.”　　“Resistance at 98.70 (38.2% fibo), 99 levels (50 DMA). Support at 98.10 (50% fibo retracement of 2026 low to high), 97.50/60 levels (double bottom, 61.8% fibo retracement of 2026

05-13Industry

Injective (INJ) Price Explodes 13% After Bullish Breakout—Is a Rally to $6 Next?

Tech　　Injective (INJ) Price Explodes 13% After Bullish Breakout—Is a Rally to $6 Next？　　The post Injective (INJ) Price Explodes 13% After Bullish Breakout—Is a Rally to $6 Next？ appeared first on Coinpedia Fintech News　　The Injective price witnessed a massive breakout over the past 24 hours and surged nearly 13%, reclaiming the $5 range. The rally comes amid rising market participation, increasing open interest, and growing bullish momentum across the derivatives market. After weeks of gradual recovery, the crypto is approaching a decisive resistance zone that could determine the next phase of the trend.　　The daily chart suggests the token may have confirmed a rounded-bottom recovery pattern after rebounding from the April lows. The latest breakout candle has pushed the price above a crucial resistance level around $5.15. Besides, the volume and open interest have also surged sharply during the move.　　The rounded-bottom formation reflects a gradual shift from accumulation to expansion, which is often considered an early bullish reversal signal. At the same time, the sharp rise in open interest suggests fresh leveraged positions are entering the market. Another important signal is the negative funding rate despite the strong price surge. This indicates many traders are still positioned short, increasing the possibility of

05-13Industry

tZERO taps Aptos for institutional tokenized asset issuance

tZERO Group has partnered with Aptos Foundation to let issuers launch tokenized assets on the Aptos blockchain through tZEROs tokenization platform.tZERO has added Aptos blockchain support for issuers launching tokenized assets through its platform.Aptos said its network has crossed $1.2 billion in real world assets and is already used by firms including Franklin Templeton and BlackRock.　　According to tZERO Group‘s announcement shared with crypto.news, the integration adds Aptos as one of the supported blockchain networks for issuers using tZERO’s infrastructure, allowing firms to deploy eligible tokenized assets on Aptos while following their own compliance and operational requirements.　　The company said Aptos has already crossed $1.2 billion in real-world assets on-chain and described the network as one of the fastest-growing blockchains for tokenized finance. Aptos Foundation also pointed to existing institutional involvement on the network, including projects tied to Franklin Templeton and BlackRock.　　Under the collaboration, tZERO said it will connect its tokenization systems with Aptos protocol standards covering wallets, authentication, identity tools, and token functionality. Aptos will also become one of the execution layers used for tokenized assets processed through tZEROs infrastructure.　　“We are pleased to collaborate with the Aptos Foundation as we expand support for tokenized asset infrastructure on the Aptos network,” Alan

05-13Industry

Bitcoin Price Today: BTC at $80,960 After a Week of Rejections – Hot CPI Just Made $82,000 Harder

Bitcoin　　Bitcoin Price Today: BTC at $80,960 After a Week of Rejections – Hot CPI Just Made $82,000 Harder　　Bitcoin is trading near $80,960 on May 13, 2026, and the weekly chart tells a frustrating story for bulls. BTC opened the week at $81,400, touched $82,000 twice, got rejected both times, and is now heading into the weekly close slightly below the opening level. Down 0.76% on the week. Not a collapse. Just a week of going nowhere against a wall.　　Then CPI landed. April inflation came in at 3.8% year over year, against expectations of 3.7%, and the highest reading since 2023. That single number pushed rate cut expectations from 2026 out to 2027, lifted bond yields, and removed the easy-money tailwind that had been quietly supporting BTCs recovery.　　The $82,000 ceiling just got a layer of macro cement poured on top of it.　　What the Weekly Chart Shows　　The pattern from this week is worth noting because it has now repeated four times. Price approaches $82,000, sellers show up, BTC fades back below $81,000. No clean 4H close above the level. No real follow-through from buyers at the highs.　　The weekly open was $81,400. The first push to $82,000 came early in the week and

05-13Industry

DeFi Superapp Legend Shuts Down After Failing to Scale

Tech　　DeFi Superapp Legend Shuts Down After Failing to Scale　　The company said it failed to achieve the scale needed for long-term sustainability despite raising $15 million in funding from investors in 2025. The closure comes as more than 20 DeFi, NFT, and GameFi projects have shut down this year already due to declining user activity, financial pressure, hacks, and volatile market conditions.　　Crypto Superapp Legend Announces Shutdown　　Decentralized finance mobile superapp Legend that it will shut down after roughly two years of operation. The platform was designed to simplify for mainstream users, and said it would continue operating for another 60 days before officially going offline on July 12.　　Legend launched as a mobile-first, non-custodial DeFi aggregator. The goal of the application was to make decentralized finance easier to use by allowing users to access multiple DeFi services from a single interface instead of navigating several wallets, protocols, and decentralized applications individually.　　Despite attracting investor backing and building a product that appealed to a niche audience, Legend co-founder Jayson Hobby that the platform never reached the scale required to sustain the business long term. In a statement announcing the shutdown, Hobby explained that while the company strongly believed the right user interface could bring DeFis

05-13Industry

XRP Hits All-Time High of 332,230 Wallets

Tech　　XRP Hits All-Time High of 332,230 WalletsSubstantial market growthFull network recovery　　With 332,230 wallets holding at least 10,000 XRP, XRP Ledger has achieved a significant on-chain milestone. The number indicates ongoing accumulation from mid-to-large holders, despite erratic market conditions, and continues a growth trend that has been steadily increasing since June 2024.　　Substantial market growth　　The information is significant because wallet growth of this magnitude typically indicates growing long-term conviction, as opposed to short-term speculative trading.　　Growing numbers of larger XRP wallets in the past indicate that investors are not emotionally responding to short-term price fluctuations, but rather positioning for future gains.　　Schwartz: Ripple Doesnt Control Consensus　　Bitcoin (BTC), XRP, Shiba Inu (SHIB), Toncoin (TON) and Zcash (ZEC) Price Analysis for May 13: Hiding Explosive Volatility Potential　　Source: Santiment　　The timing of the milestone adds to its intrigue. Larger holders continued to accumulate during times of uncertainty and general market weakness, even though XRP spent a large portion of 2024 trading below previous cycle highs.　　Many participants seem to have accumulated during fear-driven corrections rather than chasing euphoric breakouts. This is frequently regarded as a better long-term signal for network confidence.　　The trend did have one significant break. Between February 6 and February 8, the network lost over 4,500 wallets

05-13Industry

21Shares launches Hyperliquid ETF on NASDAQ tomorrow

Tech　　21Shares launches Hyperliquid ETF on NASDAQ tomorrow　　21Shares is bringing Hyperliquid to Wall Street. The crypto asset manager will list its Hyperliquid ETF on the Nasdaq on May 12, giving traditional investors a regulated on-ramp to one of DeFis fastest-growing perpetual futures protocols.　　The fund will trade under the ticker THYP and carry a management fee of 30 basis points, or 0.30%. A Nasdaq notice went into effect on May 10, clearing the path for a rapid listing. It marks the first US-listed ETF to offer direct exposure to HYPE, Hyperliquids native token.　　What Hyperliquid actually is, and why it matters　　Hyperliquid is a decentralized perpetual exchange built on a dedicated layer-1 blockchain. Users trade perpetual futures directly on a blockchain-native order book. The protocol launched its mainnet in 2023 and has since grown into one of DeFis heavyweights.　　Hyperliquid currently holds over $3 billion in total value locked and processes roughly $4 billion in daily trading volume. HYPE, the token that powers this ecosystem, jumped 15% in the lead-up to the launch, reaching $2.45.　　The ETF structure and competitive positioning　　At 30 basis points, THYP sits at a competitive fee level for a crypto ETF. The fund is designed to incorporate built-in staking yields, meaning holders

05-13Industry

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