What to Expect from Bitcoin, ETH, XRP, Solana Options Expiry and US Nonfarm Payrolls Today?

Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) are falling as the U.S. Navy and Iran trade attacks, while President Trump confirms the ceasefire remains in effect. Traders are bracing for volatility as crypto options expiry coincides with the US Nonfarm payrolls and unemployment rate data release today.  Almost $2 Billion in Bitcoin and ETH Options to Expire  Almost 20K Bitcoin options with a notional value of $1.59 billion are set to expire on the largest derivatives crypto exchange Deribit on May 8. The put-call ratio is 0.73, indicating a bullish sentiment despite BTC price dropping more than 4% to $79K this week, especially after US initial jobless claims rose to 200K.  In the last 24 hours, call volume is still higher than put volume. The put-call ratio is 0.66, indicating traders are bullish. Deribit data shows high volume options trading for the September 25 expiry, targeting $130,000 and $110,000 strikes prices.  Moreover, the max pain price is at $79,500, lower than the current market price of $79,676. However, traders expect Bitcoin to reclaim $80,000 in the coming days.  GreeksLive revealed that Bitcoin‘s short-term implied volatility (IV) saw a slight increase, but primary short-term IV stays around 35%. “Skew remains relatively stable with a very

05-08

Ethereum’s most notorious sandwich bot targets Vitalik Buterin’s swap

Vitalik Buterin was targeted by a sandwich attack on April 30 after swapping a small amount of DigitalBits for Ether. Vitalik Buterin‘s small XDB swap was sandwiched by JaredfromSubway, Ethereum’s notorious MEV trading bot.The bot used about $1.14 million in WETH but likely lost money after gas.The incident renewed attention on encrypted mempools as Ethereum developers seek stronger protection against MEV.  CoinDesk reported that the Ethereum co-founder exchanged about $3.86 in XDB for about $4.56 in ETH.  The trade was front-run and back-run by the jaredfromsubway.eth bot in Ethereum block 24993038. The bot reportedly used about $1.14 million in wrapped Ether across SushiSwap and Uniswap V2 to move the XDB price around Buterins swap.  JaredfromSubway returns to focus  A sandwich attack happens when a bot sees a pending trade, places an order before it, lets the user trade at a worse price, then sells after it. This type of MEV directly extracts value from regular users by giving them poorer execution.  In this case, the loss for Buterin was likely only a few cents. CoinDesk reported that the bot may have lost money after paying about $5.14 in gas fees. The case still showed how automated MEV systems scan even very small trades.  JaredfromSubway is not

05-08

LayerZero Default Security Flaw Exposes $178M In Cross-Chain Assets

A security vulnerability in the default code used by LayerZero to validate cross-chain messages has exposed over $178 million in assets, according to security researchers. The flaw, which affects the protocols Omnichain Fungible Tokens (OFTs), could allow attackers to forge messages and steal funds.  How the Vulnerability Works  Researcher Fishy Catfish reported that the default code used by LayerZero for message validation could be replaced by the development team, LayerZero Labs, without any time delay. This lack of a timelock creates a structural weakness that could be exploited to forge cross-chain messages, potentially allowing unauthorized transfers of OFTs.  Projects at Risk  The issue sparked a heated debate in the ETHSecurity communitys Telegram channel. Banteg, a well-known researcher with over 220,000 followers, noted that major projects like Ethena and EtherFi were using this vulnerable default setting until recently. While some projects have updated their configurations, approximately $178 million in assets remain exposed.  Operational Security Concerns  Fishy Catfish also raised concerns about the project‘s overall security management, citing on-chain data that suggests operational multi-signature keys were used for routine activities like memecoin trading. This is particularly troubling given LayerZero’s history of being targeted by North Korean hacking groups, highlighting the need for stricter operational security practices.  Implications for the

05-08

Hyperscalers’ Free Cash Flow Dips as AI Arms Race Hits Balance Sheets

The full-year free cash flow at Amazon, Alphabet, Meta, and Microsoft is set to fall to its lowest level since 2014.  The decline reflects mounting pressure from heavy investments in artificial intelligence (AI).  AI Spending Spree Pulls Big Tech Cash Flow Down  According to recent estimates from Morgan Stanley, hyperscalers including Amazon, Alphabet, Meta, Microsoft, and Oracle could spend nearly $805 billion this year, up from an earlier projection of $765 billion. Forecasts for next year have also been raised sharply to $1.1 trillion.  “To put that into perspective, their 2026 spending alone would be roughly equal to what all non-tech companies in the S&P 500 spent combined in 2025. The expected ~$800bn for 2026 is nearly double the 2025 levels and about three times what was spent in 2024,” reporter Holger Zschaepitz posted.  The aggressive push into AI is leaving these tech giants with significantly less cash. Wall Street forecasts show the combined free cash flow of Amazon, Alphabet, Microsoft, and Meta could drop to around $4 billion in the third quarter. This marks a dip from the quarterly average of $45 billion since the COVID-19 pandemic.  “Their full-year free cash flow is set to hit the lowest level since 2014, when their revenues were

05-08

Here’s Why XRP Price Could Rally 30% as RLUSD Hits $1.55B Amid BlackRocks Stablecoin Push

XRP price has dropped by more than 2% today, May 8, but this is not an isolated case because the rest of the market was in the red. But all hope is not lost for XRP bulls because there is a symmetrical triangle pattern reading that the price might move up by 30%. The catalyst for this could be the Ripple USD (RLUSD) stablecoin that just achieved a market cap of $1.55 billion, just as BlackRock said it is not against using stablecoins for payments.  RLUSD Market Cap Soars as BlackRock Backs Stablecoin Payments  The market cap for RLUSD just went above $1.55 billion, and this is quite a feat because by March 31, it had a reading of $1.24 billion. It has added $310 million in just seven weeks even with XRP price not going up.  RLUSD Market Cap  And this might just be the beginning of gains for RLUSD because BlackRock is now saying people can use stablecoins to pay for things. It published a post on X where it said that as long as the regulations are right, stablecoins can do a good job improving payment systems.  The reason why this is good for XRP price is because BlackRock is now in

05-08

21Shares TCAN ETF brings Canton Network exposure to U.S. investors

21Shares has launched the 21Shares Canton Network ETF, trading under the ticker TCAN on Nasdaq. 21Shares launched TCAN on Nasdaq, giving U.S. investors ETF exposure to Canton Coin through brokerages.Canton targets institutional settlement, privacy, and tokenized markets backed by banks and technology firms globally.Recent regulated access from AMINA adds context as Canton moves deeper into traditional finance markets.  In a Thursday press release, the issuer said the fund is the first U.S. ETF built to give investors exposure to Canton Coin, the native utility token of the Canton Network.  The fund began with a 0.50% gross expense ratio and an inception date of May 7, 2026. 21Shares US LLC is listed as the issuer. The launch gives investors access to Canton through a listed investment product rather than direct token custody.  Canton targets institutional finance  Canton Network is a privacy-enabled blockchain system built for capital markets. The 21Shares release said institutions such as Goldman Sachs, Microsoft, and Deutsche Bank have participated in testing or served as validators or governance participants.  21Shares said those names should not be read as endorsements of Canton Coin, Canton Network, or TCAN. Andres Valencia, EVP of Investment Management at 21Shares, said,  “The Canton Network has attracted significant institutional interest given its

05-08

Coinbax wins $20,000 PitchFest prize at Consensus Miami for stablecoin compliance

MIAMI – Coinbax won the $20,000 grand prize at Consensus Miamis PitchFest after pitching a system designed to help banks and financial firms manage compliance for stablecoin payments.  The company, founded by former Jack Henry executive Peter Glyman, builds programmable escrow infrastructure that adds controls to wallet-to-wallet crypto transactions. The software is meant to reduce the risks financial institutions face when moving funds onchain.  “Banks want to use stablecoins for payments, but they need to get their compliance people comfortable with the idea of moving money onchain,” Glyman said during his presentation.  He described a future where “wallet addresses [are] associated with every bank account,” with transactions moving between banks, fintech firms and self-custody wallets. In that environment, he argued, compliance checks need to happen directly onchain rather than only through traditional banking intermediaries.  Coinbax uses smart contracts to hold funds in escrow while third-party services verify identity, sanctions screening and transaction risk. Funds settle only after conditions are met.  “We provide a trust layer,” Glyman said. “We provide programmable escrow that adds the control layer to these payments.”  The startup launched in October, closed a seed round in December and is already live on Base mainnet, according to Glyman. He said the company is working

05-08

IREN (IREN) Stock Rockets 27% Following Major Nvidia Deal and Spain Acquisition

IREN Limited, IREN  The company unveiled a strategic alliance with Nvidia (NVDA) focused on rolling out up to 5 gigawatts of AI-focused infrastructure. Concurrently, IREN disclosed plans to purchase Ingenostrum, a data center development firm based in Spain, alternatively known as Nostrum Group.  Prior to these announcements, IREN shares were hovering near $56. The after-hours surge drove the stock substantially higher, demonstrating strong investor enthusiasm for both initiatives.  The collaboration with Nvidia revolves around implementing Nvidia‘s DSX-optimized accelerated computing infrastructure throughout IREN’s worldwide data center network. The partnership encompasses compute resources, networking systems, software platforms, power management, and operational coordination.  A significant portion of this development will take place at IREN‘s Sweetwater facility in West Texas. With a total capacity of 2 gigawatts, this location is positioned to become the flagship demonstration site for Nvidia’s DSX AI factory architecture.  Jensen Huang, Nvidias founder and CEO, emphasized that AI factories are emerging as critical infrastructure for the worldwide economy, noting that IREN possesses both the scale and technical capability required to expedite this expansion.  Under the agreements terms, IREN provided Nvidia with a five-year warrant to acquire up to 30 million IREN shares priced at $70 each. This amounts to a potential $2.1 billion commitment, contingent upon

05-08

Dow Jones Futures Edge Higher As Middle East Tensions Show Signs Of Easing

Tech  Dow Jones Futures Edge Higher As Middle East Tensions Show Signs Of Easing  Dow Jones futures rose in early trading on Monday, as signals of de-escalation in the Middle East prompted a cautious return to risk assets. The move comes after a period of heightened geopolitical uncertainty that had weighed on global equity markets late last week.  Market Reaction to Geopolitical Developments  Futures contracts tied to the Dow Jones Industrial Average gained roughly 0.3% in pre-market activity, while S&P 500 and Nasdaq 100 futures also posted modest advances. The uptick followed reports suggesting diplomatic channels were showing progress in reducing hostilities between key regional players, though no formal ceasefire has been announced.  Investors have been closely monitoring the situation since late last week, when a series of military exchanges sent crude oil prices spiking and triggered a flight to safe-haven assets such as gold and U.S. Treasuries. The prospect of a broader conflict had raised concerns about supply disruptions in energy markets and broader economic instability.  Oil Prices and Safe-Haven Flows  Brent crude, the international benchmark, retreated approximately 1.5% in early trading, reflecting the easing of immediate supply fears. West Texas Intermediate (WTI) followed a similar path. Gold, which had surged to multi-week highs during the

05-08

Deutsche Bank Deepens MicroStrategy Bet, Holdings Reach $140.1 Million

Deutsche Bank, one of Europes largest financial institutions with roughly $2.1 trillion in assets under management, has expanded its position in MicroStrategy (MSTR), the business intelligence firm known for its aggressive Bitcoin treasury strategy. According to a recent filing, the bank acquired an additional 53,215 shares, bringing its total holdings to 784,919 shares valued at approximately $140.1 million.  A Growing Institutional Bet on Bitcoin Exposure  The move signals a notable shift in traditional finances approach to digital assets. While Deutsche Bank has not publicly declared a direct Bitcoin investment strategy, its increased stake in MicroStrategy provides indirect exposure to the cryptocurrency market. MicroStrategy, under the leadership of Executive Chairman Michael Saylor, holds over 214,000 Bitcoin on its balance sheet, making its stock a proxy for Bitcoin price movements for many institutional investors.  This is not Deutsche Banks first foray into the space. The bank has previously explored crypto custody services and participated in blockchain research, but this latest equity purchase underscores a more tangible commitment to gaining exposure through established public companies.  What This Means for the Market  Deutsche Bank‘s increased position is significant for several reasons. First, it validates MicroStrategy’s strategy of using corporate treasury funds to acquire Bitcoin, a model that has drawn

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