Crypto Industry News & Market Trends

Pi Network News: Protocol 23 Upgrade Nears Final Rollout After Most Complex Migration in Project History

The post Pi Network News: Protocol 23 Upgrade Nears Final Rollout After Most Complex Migration in Project History appeared first on Coinpedia Fintech News　　Pi Network is moving closer toward its major Protocol 23 transition as the team confirmed that most Mainnet node operators have now successfully upgraded to v23. According to the latest update from the Pi Core Team, the protocol is expected to fully migrate very soon after one of the most technically demanding upgrades in the projects history.　　The team explained that the upgrade involved multiple subsystem improvements, infrastructure optimizations, and large-scale internal data reprocessing, making the migration far more complex than a normal software update.　　Pi Pushes Major Backend Overhaul　　The transition includes three major infrastructure upgrades happening simultaneously:Protocol v22 → v23Ubuntu 20 → Ubuntu 24PostgreSQL 12 → PostgreSQL 16　　Pi said the move is designed to improve long-term scalability, network stability, database performance, and overall blockchain efficiency as the ecosystem continues expanding.　　The Protocol 23 migration also reportedly aligns Pi more closely with Stellar Core v23.0.1, opening the door for future smart contract support, PiRC2 functionality, decentralized applications, and additional Web3 infrastructure features.　　Why This Upgrade Was So Difficult　　Unlike normal software patches, Protocol 23 requires nodes to completely rewrite and reprocess existing

05-21Industry

Zcash Soars 88% In 30 Days: Is ZEC The Stealth Winner Of This Crypto Cycle?

BitMEX co-founder Arthur Hayes has suggested that Zcash (ZEC) could eventually reach 10% of Bitcoin‘s market capitalization, a long-term bullish thesis on privacy coins rather than a near-term price forecast. Based on ZEC’s circulating supply of around 16 million tokens, that scenario would imply a price in the high four-figure range, roughly $8,000–$10,000, depending on Bitcoins valuation.　　A Chart Pattern Worth Watching　　On the technical side, traders point to a possible cup-and-handle pattern, but this is a subjective chart formation with no guarantee of outcome. Resistance is often cited around $625–$650, with some speculative projections suggesting a move toward $1,000, though this depends heavily on broader market conditions and is not a confirmed target.　　The target also lines up with ZECs 1.618 Fibonacci extension, drawn from a $745 swing high down to a $185 swing low.　　Privacy Coins Pull Ahead　　ZEC is not moving alone. Monero and Dash, both privacy-focused tokens, have also posted gains over the past month. But Zcash leads the pack. Reports indicate the coin climbed more than 80% in 30 days while the total crypto market cap barely moved — up just 0.2% over the same stretch.　　In the past three days alone, ZEC added 18% as the broader market slipped 3%.

05-21Industry

Bitcoin node counters go dark following Bitnodes expiry

It used to be easy to estimate how many Bitcoin full nodes were easily reachable over the internet, but almost all of those counters have gone offline this month.　　As of Tuesday, Coin Dances node counter reported a last-updated time of 476 hours ago. Indeed, the page displays 23,795 reachable nodes as of its latest update last month.　　Bitcoin node estimates plastered across dashboards, glossaries, and other webpages havent moved in roughly three weeks.　　The main culprit seems to be Bitnodes.io, a popular crawler that ran continuously since 2013 yet went dark after its domain expired on May 3, 2026. A single developer, Addy Yeow, ran the project with early financial support from Balaji Srinavasans 21 Inc, once the best-funded company in the Bitcoin industry.　　Neither Srinavasan nor Yeow have issued public statements on the GitHub repository or anywhere else about the outage.　　NewHedge used Bitnodes API and, therefore, has taken its counter offline. Another Bitnodes API user, SatoshiDashboard, also went down.　　Clark Moody‘s dashboard simply re-posts Bitnodes’ old cached number.　　Navigating to bitnodes.io itself returns a DNS error.　　Bitnodes was a fan favorite　　Two weeks into the outage, BitMEX Research proposed a rudimentary replacement crawler, Bitnod.es, using off-the-shelf tooling.　　With sincere modesty, BitMEX Research conceded that the substitute is

05-21Industry

Canaan mining posts $88.7m Q1 loss

Canaan mining maker posted an $88.7m net loss in Q1 2026 on revenue of $62.7m as Bitcoin prices and hashprice both fell sharply.Canaan posted Q1 2026 revenue of $62.7m in line with guidance, but a $25m inventory write-down pushed the net loss to $88.7m, wider than the $86.4m loss in Q1 2025.Machine sales fell 75% quarter-on-quarter to $39.6m as deliveries under a major North American customer order were completed, leaving a lean inventory position.Canaan guided Q2 revenue at $35m to $45m, well below analyst estimates of around $96m, citing continued Bitcoin price pressure and soft market demand.　　Canaan Inc. reported in a May 19 press release that Q1 2026 revenue reached $62.7 million, in line with its February guidance range but down sharply from $196.3 million in Q4 2025.　　The company recorded a gross loss of $22.9 million for the quarter, including a $25 million inventory write-down, and a net loss of $88.7 million compared to $86.4 million in the same period a year earlier.　　“Despite bitcoin price volatility, compressed hashprice conditions, elevated energy costs, and weather-related disruptions in North America, we delivered total revenue of $62.7 million, which was in line with our guidance,” said Nangeng Zhang, chairman and chief executive of

05-21Industry

Bitmine Buys 71K ETH During Price Dip, Tom Lee Confirms

Bitmine Immersion Technologies, the largest Ethereum (ETH) treasury company, has added 71,672 ETH to its holdings during a recent price pullback. Chairman Tom Lee confirmed the acquisition, describing Ether‘s dip below $2,200 as an “attractive opportunity.” The move brings Bitmine’s total holdings to over 5.2 million ETH, with a long-term goal of controlling 5% of the tokens circulating supply.　　As of May 19, 2026, Ether is trading at $2,133.92, reflecting minimal day-over-day change. Over the past week, ETH has ranged between $2,081 and $2,341, pressured by bearish sentiment and broader market challenges. The token is down 57% from its August 2025 all-time high of $4,946, with analysts warning of potential downside toward $1,700 amid rising exchange supply and fading ETF demand.　　Bitmine‘s strategy mirrors the Bitcoin-focused treasury approach of Michael Saylor’s MicroStrategy, consistently accumulating ETH during periods of weakness. Earlier this month, the firm purchased 26,659 ETH between May 4 and May 11, although this marked a slowdown from its prior pace of over 100,000 ETH per week. The companys latest acquisition comes amid reports of renewed buying activity by long-dormant Ethereum whales. Blockchain analytics platform Lookonchain noted that a whale who previously sold their ETH holdings returned to the market last

05-21Ethereum

Ethereum Weakness Traces Back To One Exchange. Analyst Identifies The Cause

Sign Up for Our Newsletter!　　For updates and exclusive offers enter your email.　　Sebastians journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.　　As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastians contributions quickly gained recognition, and he became a trusted voice in the online crypto community.　　To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its

05-21Ethereum

Ethereum Foundation Faces Transparency Push as RWA Market Hits $65B With ETH at 33% Share

The criticism extends beyond the departures themselves to the broader question of leadership accountability. Community members point out that the foundation has historically operated with a deliberately loose, decentralized structure intended to preserve the networks neutrality and prevent power concentration. Yet that same design now sits uneasily against an ecosystem that underpins hundreds of billions of dollars in tokenized assets, lending markets and decentralized finance activity. Several voices on X argued that responsibilities inside the organization appear to be shifting without clear public communication. Requests for clarification on the changes had not produced detailed responses at the time of writing, deepening frustration among independent developers and ecosystem allocators alike.　　In March, the foundation issued a public mandate intended to clarify its priorities, emphasizing long-term resilience, credible neutrality and continued support for core infrastructure development on Ethereum. That statement was widely read as an attempt to address growing demands for clearer accountability following earlier governance disputes. The current shakeup, however, suggests that document has not fully resolved underlying tensions. Some longtime contributors view the structural opacity as a necessary feature that protects the protocol from capture, while others see it as increasingly incompatible with the scale of capital now flowing through the

05-21Ethereum

Ethereum News Today: Verus Bridge Exploit Drains $11.6 Million As Whale Buying Tops $322 Million And Pepeto Crosses $10 Million Before Listing

The Ethereum news today is shaped by a fresh bridge exploit and a wave of whale buying that signals where smart money is heading. The Verus bridge lost $11.6 million in tokens today, and earlier this month large wallets quietly added massive ETH to their holdings.　　These two signals together point to a market where the informed money is buying what the crowd is afraid to touch.　　Verus Bridge Exploit Hits $11.6 Million Today as Early May Whale Buying Totaled $322 Million　　A security alert from Blockaid flagged that the Verus to Ethereum bridge was drained for 103.6 tBTC, 1,625 ETH, and 147,000 USDC totaling $11.6 million on May 18. The exploit sent a warning to anyone using cross chain bridges without checking the security behind them.　　Meanwhile in early May, whale wallets added over 140,000 ETH worth $322 million in 96 hours according to Mexc, proving that large holders see current fear as a buying window.　　Presale and Large Cap Entries Split as Ethereum News Turns MixedPepeto Presale Built by Original Pepe Creator Fills Faster as Listing Draws Closer　　The correction is getting deep, and limiting investments to large caps alone could mean missing the biggest returns of the cycle. Pepeto is a strong pick

05-21Ethereum

Ethereum Price Bounce Looks Fragile, Another Selloff May Be Brewing

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.　　From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.　　As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.　　In addition to his roles in finance

05-21Ethereum

Can Ethereum bulls defend $2,000 support as ETFs continue to bleed?

The chart also shows ETH struggling below the 0.236 Fibonacci retracement level near $2,238, which has repeatedly acted as a major resistance region throughout recent recovery attempts.　　Failure to reclaim Fibonacci resistance levels during relief rallies often signals that bullish momentum remains weak rather than establishing a sustainable trend reversal.　　Ethereum additionally remains trapped inside a broader descending channel formation visible on the weekly timeframe. Price recently attempted to break above the channels upper boundary before facing another rejection near the $2,300 region.　　That rejection reinforced the current lower-high structure that has defined Ethereums broader downtrend over recent months.　　Momentum indicators also continue favoring the bears. The MACD indicator remains in negative territory despite showing slight stabilization over recent sessions. The MACD line continues trading below the signal line, suggesting bearish momentum has not yet fully reversed.　　Meanwhile, the Relative Strength Index remains below the neutral 50 level on the weekly timeframe. The RSI currently sits near the upper 30s, indicating weak momentum conditions without yet entering deeply oversold territory.　　That distinction remains important because markets often experience stronger relief rallies only after RSI conditions become significantly oversold and seller exhaustion begins appearing more clearly.　　Ethereums current RSI structure instead suggests the market may still remain vulnerable

05-21Ethereum

...

684686

...

1000