Crypto Industry News & Market Trends

Zcash Whale Turns ZEC Portfolio 10x to Over $150 Million, But How?

The position then dropped more than 50% during 2025. The drawdown briefly erased about $8.6 million in paper value before the recovery began.　　“He made over $150M in a year. How？ ZEC,” Arkham noted.　　Partial profit-taking started in January 2025 and ran through late November. Eight sales totaled 54,718 ZEC for $22.61 million combined.　　The remaining 230,100 ZEC are worth roughly $126 million today. The trade fits a broader pattern of Zcash whale buying activity tracked through 2025.　　Privacy Coin Resurgence Fuels the Win　　The trade rode Zcashs 2026 surge, driven by renewed interest in privacy assets. Grayscale filed for a spot Zcash ETF earlier this month. The catalyst pushed ZEC to a recent peak above $700.　　Speculation is that the wallet belongs to Helius Labs co-founder Mert Mumtaz, a long-standing Zcash advocate and public champion of the network.　　Mumtaz has not addressed the speculation directly.　　“He didnt actually sell ZEC because he was just longing on hl checkmate,” Mert chimed.　　Arkham has not confirmed the identity, and the attribution remains unverified.　　Whether the wallet reaches a nine-figure realized total may depend on ZEC holding its current gains.　　The Grayscale decision and continuing shielded supply growth will shape the next phase for the privacy network.　　The post Zcash Whale Turns ZEC Portfolio

05-29Industry

Sequans dumps $BTC reserve, pivots back to IoT chips after debt cleared

Paris-based chipmaker Sequans Communications has fully exited its bitcoin treasury, selling roughly 80% of its holdings to repay convertible debt and returning its full focus to semiconductors.Sequans sold approximately 2,120 BTC over several months, leaving just 658 BTC fully unrestricted on its balance sheet.CEO Georges Karam says the move strengthens the companys balance sheet and simplifies its capital structure.The company will now concentrate on scaling its 4G/5G IoT semiconductor, RF transceiver, and defense wireless application businesses.　　Sequans Communications, the Paris-listed chipmaker, announced Thursday the completion of all convertible debt redemptions tied to its bitcoin treasury, capping an abrupt reversal of the bitcoin accumulation strategy it launched less than a year ago.　　The company sold nearly 80% of its total Bitcoin (BTC) holdings to fund the debt redemption, leaving 658 BTC on the balance sheet — now fully unrestricted following the retirement of all outstanding obligations, according to The Block.　　The selldown was executed in stages. Sequans sold 970 BTC in November 2025, then another 125 BTC in February 2026, followed by a further 1,025 BTC during the first quarter, which reduced its holdings to 1,114 BTC as of April 30.　　A treasury built fast, unwound faster　　Sequans launched its bitcoin treasury in July 2025 with

05-29Industry

Ethereum broke KEY support, retail says ‘buy the dip’ – But whales say...

Ethereum　　Ethereum broke KEY support, retail says ‘buy the dip’ – But whales say…　　Ethereum breached the psychological $2k support for the first time since late March, falling to a low of $1,967.　　At press time, ETH traded at $1,978 after a 4.43% daily decline. The drop intensified activity across the broader market.　　Why did Ethereum whales turn bearish？　　After ETH fell to a two-month low, several whales flipped bearish and began shorting the market.　　According to Onchain Lens, whale “Evaded” opened a 12,600 ETH 25x short position worth $25 million. Following the decline, the position was already up $722k.　　The move reflected growing bearish conviction among large holders. On top of that, the whale did not appear isolated.　　In fact, the Long/Short Ratio dropped to 0.89. Such levels suggested most active traders positioned for further downside.　　Source: CoinGlass　　The growing demand for shorts indicated bearish sentiment dominated derivatives traders. That shift also appeared across the Spot market.　　According to Onchain Lens, another whale returned after two dormant years and deposited 3,466 ETH worth $7 million into Kraken.　　The whale originally purchased the tokens for $9.1 million. The transfer locked in a $2.1 million loss, signaling capitulation.　　Are retail traders buying the dip？　　After ETH hit a monthly low, retail traders aggressively bought the

05-29Ethereum

Ethereum Drops but Holds Above $1,960

Ethereum　　Ethereum Drops but Holds Above $1,960　　Ethereum Price Long-Term Analysis: Bearish　　Before this decline, the largest altcoin had been trading above the $2,000 support but below the $2,160 resistance. Upward price movement has been restricted by resistance at $2,160 and the 21-day SMA. Buyers have been unable to push the price above the $2,160 resistance and the moving average lines.　　Today, the crypto price has fallen to a low of $1,967. Ether is now trading between the $1,960 support and below the $2,000 high.　　On the upside, if buyers move the price above the $2,000 high, Ether will return to its previous range below the moving average lines. On the downside, if sellers push the price below the $1,960 support, Ether will fall to previous lows of $1,840 and $1,800. Ether is currently at $2,019.　　Technical indicators:Resistance Levels: $3,500 and $4,000Major Support levels: $2,500 and $2,000　　ETH Indicator Analysis　　The price of Ether is below the horizontal moving average lines, indicating that the cryptocurrency is likely to continue declining. The 21-day SMA is below the 50-day SMA, suggesting further downside for Ether. On the 4-hour chart, the moving average lines are sloping downwards, indicating a downtrend.　　What Is the Next Direction for ETH？　　Ethereum has lost its critical support

05-29Ethereum

Bitcoin Price Prediction: BTC Drops Below Bear Market Resistance Band

Bitcoin　　Bitcoin Price Prediction: BTC Drops Below Bear Market Resistance BandSpot Bitcoin ETFs bled $733.43M on May 27 led by BlackRock IBIT shedding $527.84M alone.BTC dropped below the bear market resistance band on the daily with the SAR at $78,015 holding overhead.Analyst Benjamin Cowen flags June as the historical weak point in midterm years with a Q4 low as the likely cycle bottom.　　Bitcoin trades at $73,396 on May 28, down 1.24% after losing the bear market resistance band on the daily chart, as spot ETF outflows accelerate and the 0.5 Fibonacci level at $75,574 fails to hold as support.　　BTC Daily Chart: Rejected at $75,574 and the 0.382 Fib at $71,898 Is Now Exposed　　The daily chart rejected cleanly off the 0.5 Fibonacci level at $75,574 after a brief recovery attempt in May. Price is now pressing lower with the SAR at $78,015 sitting well above, keeping the daily bias firmly bearish. Two FVG zones are visible below current price between $68,000 and $72,000, acting as the next magnet if the 0.382 Fib at $71,898 gives way.　　The chart structure shows a Break of Structure from the November highs that has not been recovered. Every rally since February has been sold into, with the

05-29Industry

Standard Chartered backs $4,000 ether price forecast as retail buys the sub-$2,000 drop

His pitch is that the Ethereum blockchain and its token have come apart. Transaction counts on the network and the value locked in its apps are near record highs, while ethers price has bled 57% from its August peak against the dollar and shed 37% against bitcoin.　　Kendrick drew parallels to Jeff Bezos watching Amazons stock crater from $113 to $6 in the 2001 dot-com wreckage while the business underneath kept improving. The shares have since climbed roughly 1,000-fold in the intervening quarter-century.　　“ETH will catch up to the internal metrics, it is just a matter of time,” he wrote.　　Standard Chartered expects the stablecoin market to grow sixfold by the end of 2028 and tokenized real-world assets to balloon fiftyfold. It reckons Ethereum carries 50% to 65% of both.　　Those two buckets already make up more than half the value locked on the chain. Get to $4,000, and the ether-to-bitcoin ratio is back at its 2021 high near 0.08. Its currently around 0.03.　　As such, the traders putting real money down aren‘t waiting for the catch-up. Ether futures open interest, the total stack of outstanding contracts, climbed to a record 16.39 million ETH ($32.61 billion) even as the price sank. That’s a warning: Open

05-29Industry

Bitcoin Bears Break $75K Support: Is $70K Next?

Bitcoin　　Bitcoin Bears Break $75K Support: Is $70K Next？　　Bitcoins (BTC) rising funding rate and aggregated open interest suggest bullish investors are opening longs in an attempt to defend the range lows and an important support at $70,000, but another day of spot ETF outflows has investors concerned that the institutional stance on BTC is shifting.　　As shown in the chart below, Bitcoin open interest remains relatively stable despite the day-over-day selling, further re-enforcing the view that to stay open or newly created. The cross-exchange funding rates (the last indicator at the bottom of the chart) are also mostly positive to neutral, indicating a long-leaning bias among investors.　　Prior to the drop to $73,000, liquidations remained within norms of BTC‘s intra-day range percentage-wise, suggesting that this week’s price action is a continuation of the current consolidation rather than early confirmation of a higher-timeframe trend change.　　One important point to consider is “who” is propping BTC up. Hyblocks True Retail Longs & Shorts Accounts indicator shows retail investors increasingly viewing corrections as dip-buying opportunities.　　Hyblock analysts said that,　　“Long exposure now sits near 62%, a level where retail traders have historically been vulnerable to getting trapped. Over the last three months, backtested 15-minute data shows that when retail

05-29Industry

Sui blockchain stalls a second time

Sui blockchain stalled on May 28, halting block production and sending the SUI token down 8%.Sui blockchain stopped producing blocks on May 28, its second major stall in five months.The core team confirmed a network stall and paused transactions while deploying a fix.The SUI token fell roughly 8% as block finality halted across the networks dApps.　　Sui blockchain suffered a network stall on May 28, halting block production across its mainnet. The SUI token dropped about 8% as the disruption hit.　　The incident marks the layer-1‘s second major stall in five months. Sui’s core team posted that the mainnet was experiencing a network stall and that engineers were actively working on a solution, pausing transactions while safeguarding user funds.　　Sui Mainnet is currently experiencing a network stall. The Sui Core team is actively working on a solution.　　Be aware that transactions may be paused at this time. Updates will be shared as soon as they are available.　　— Sui (@SuiNetwork) May 28, 2026　　What happened to the Sui network　　Block explorers showed no new checkpoints for nearly an hour, halting transaction finality across decentralised apps. Engineers said they had identified the issue within roughly 20 minutes and begun deploying a fix.　　“Sui Mainnet is currently experiencing a network

05-29Industry

Treasury Taking Steps For Putting Trump On $250 Bill

Finance　　Treasury Taking Steps For Putting Trump On $250 Bill　　Treasury Secretary Scott Bessent said Thursday the agency is taking steps to print President Donald Trump‘s face on a new $250 bill—an unprecedented move that would require Congress to authorize an exception to U.S. law prohibiting a living person’s face from being printed on U.S. currency.　　Getty Images　　Key Facts　　Bessent described the effort as a preparatory measure in case legislation that would allow Trumps face to be printed on the bill passes Congress, downplaying a Washington Post report earlier in the day that the Treasury Department has put pressure on the Bureau of Engraving and Printing to make mock-ups of the bill.　　Bessent said, “I don‘t really understand this Washington Post article . . . terribly written, terribly edited. Basically what it says is Treasury is following the law and that we’ve created the bill and that it‘s up to Congress . . . I didn’t really understand what the story was.”　　“We prepare for everything if it gets passed,” Bessent said.　　There‘s no sign Congress will take up such legislation any time soon—a bill was introduced in February last year by Rep. Joe Wilson, R-S.C., but it’s been stalled in committee since.　　Federal law only allows people

05-29Industry

Oracle (ORCL) Stock Surges Following JPMorgan’s Overweight Rating and Massive Contract Backlog

Oracle Corporation, ORCL　　JPMorgan analyst Mark Murphy highlighted a more favorable risk/reward dynamic, observing that market sentiment toward Oracle had shifted dramatically from “unwavering optimism to pervasive skepticism” regarding the companys fiscal 2030 objectives — suggesting the negative sentiment may be overdone.　　The general market context made Oracle‘s performance particularly notable. With the S&P 500 trading flat, the Dow Jones showing minimal movement, and the Nasdaq essentially unchanged, Oracle’s gains stood out as company-specific momentum.　　The timing of JPMorgans coverage initiation follows a transformative period for the enterprise software giant. Oracle finalized a $30 billion cloud infrastructure agreement with federal authorities in early 2026 — representing one of the most substantial cloud computing contracts in history.　　This landmark agreement solidified Oracles role as a critical AI computing infrastructure provider for sensitive government operations, including national security and defense applications.　　Compelling Financial Performance Supports Optimistic Outlook　　Oracle‘s latest quarterly financial disclosure provided substantial evidence supporting bullish analyst perspectives. The company delivered third-quarter earnings per share of $1.79, surpassing Wall Street’s $1.71 consensus forecast, while revenue reached $17.19 billion versus analyst expectations of $16.91 billion.　　Total revenue climbed 21.7% compared to the prior-year period. Infrastructure as a Service revenue specifically totaled $4.89 billion, marking an impressive 84% year-over-year surge.　　The

05-29Industry

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