The current structure of capital markets is failing to serve a broad base of investors, according to Akshay BD, non-chief marketing officer at the Solana Foundation. During a panel at the Accelerate 2025 conference, Akshay argued that blockchain technology could help address these shortcomings, claiming that Solana could “make everyone an investor or a dreamer over time.”

Akshay noted growing uncertainty among investors, citing concerns from investment managers who report heightened anxiety among clients. “You have low bond yields, you have asset price bubbles, and people don’t really know how the traditional asset allocation model works anymore,” he said. The 60-40 portfolio hasn’t delivered consistent returns in a long time.”

He attributed some of this tension to a widening gap between income earned through wages and wealth accumulated through asset ownership. Retail investors, he added, are often locked out of private markets, which are typically accessible only to accredited investors — a dynamic that may be contributing to overheated public markets.

Akshay BD at Accelerate. Source: Cointelegraph

Akshay warned that the rapid advancement of artificial intelligence could further deepen existing economic divides. “The question is, which way do we go?” he asked. “Is it […] universal basic income, where we’re essentially creating a welfare economy to support those unable to keep jobs or own assets? Or is it what we propose, universal basic ownership, where everybody with a mobile phone can own assets?”

He outlined a vision in which crypto infrastructure enables broader asset ownership, allowing individuals to invest in everything from energy companies to local coffee shops through tokenization. In this model, acquiring an ownership stake could be as easy as scanning a QR code.

In the Solana ecosystem, the “Non-Chief Marketing Officer” (nCMO) is a role within the Solana Foundation that focuses on supporting the Solana community’s marketing efforts.

Related: Fractionalization of real world assets: Is this the holy grail of blockchain tech?

Markets remain above historical averages

Public equity markets in the US have been trading above their historical valuation norms for a long time. According to data from market analytics firm Multpl, the S&P 500’s price-to-earnings (P/E) ratio has consistently remained above 19.6 since December 2018, higher than the index’s historical average P/E ratio of around 16.1 and suggesting that investors have been willing to pay a premium for earnings in recent years.

Zooming out, the S&P 500’s average valuation has been gradually rising for decades, driven by factors such as low interest rates, growing corporate gains, and investor optimism about technology. However, high valuations have also coincided with periods of market corrections, like the dot-com crash and the 2008 financial crisis after the collapse of the subprime mortgage market.

S&P 500 P/E ratio since inception. Source: Multipl

According to Akshay, a way to combat this overheating is to open up certain markets to retail investors, a lofty goal that some sectors of crypto, like RWA tokenization, aim to facilitate. Akshay noted that some entrepreneurs had tried this before, but the available technology didn’t support this view. “[Crypto] starts with the game, and very quickly becomes profound.”

“What it gives you is the ability for you to financialize all the productive assets in an economy, so you can have anybody who participates in that economy be an owner of that economy,” he said.

Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Update (May 23 at 10:57 pm UTC): This article has been updated to clarify information regarding World’s operations in Brazil and Indonesia and to include comments from the company.

World, OpenAI CEO Sam Altman’s digital identification project, raised $135 million from venture capital firms Andreessen Horowitz and Bain Capital Crypto, the company said in an announcement.

The capital will be used to expand World’s network of iris-scanning orbs and infrastructure in the United States, where the company said in April it would operate in six cities, and increase coverage around the globe, according to the announcement.

More than 12.5 million individuals in over 160 jurisdictions have been issued a World ID, the company said.

The project, which collects biometric data from individuals to establish “proof of personhood,” faces regulatory headwinds in several countries. Critics of the project say that offering financial incentives for biometric data violates informed consent, sparking a debate about the ethics of centralized digital ID systems and data privacy.The global regulatory issues prompted World to review its business model in March 2024 to transfer data ownership to users.

Major components of an iris-scanning World orb visualized. Source: World

Related: Alarm bells ring in US over OpenAI’s crypto project World

Scrutiny of Worldcoin continues

In January, Brazil’s National Data Protection Authority (ANPD) ordered the company to stop offering financial compensation for biometric data collection in the country, citing concerns regarding the violation of informed consent.

The ANPD upheld the decision to ban World’s crypto payments in March, imposing a daily fine of 50,000 Brazilian reais ($8,851) for noncompliance.

Translated statement from Brazil’s ANPD maintaining a ban on World’s crypto payments in the country. Source: Brazilian Government

Indonesia’s Ministry of Communications and Digital (Komdigi), a data and communication watchdog, suspended World’s business license on May 4 after accusing some of the company’s subsidiaries of failing to register as digital asset service providers under the Electronic System Operator Certificate Registration (TDPSE) framework.

Komdigi has launched an investigation into the project and will meet with representatives from the subsidiaries following the suspension to clarify the matter.

In a statement to Cointelegraph, the company said it “voluntarily paused its proof of human verification services in Indonesia” before the government’s decision, adding that it is currently “seeking clarification on the terms of the relevant licenses and permits.”

The setbacks in both countries follow a December 2024 order from the Bavarian State Office for Data Protection Supervision (BayLDA), a German data protection regulator, demanding that World adhere to the European Union’s data protection standards by allowing individuals the option to easily delete their biometric data from the network.

“Data anonymization, not just data deletion, is essential for enabling people to verify themselves as human online while remaining completely private. Without a clear definition around anonymization, however, we lose perhaps our most powerful tool in the fight to protect privacy in the age of AI,” said Damien Kieran, chief legal and privacy officer at Tools For Humanity, the project’s developer.

Magazine: Worldcoin fined again! Crypto store clerk runs off with $500K cash: Asia Express

Blockchain privacy tools such as zero-knowledge (ZK) proofs will become increasingly necessary to protect online user data in the age of artificial intelligence, according to Eran Barak, CEO of Shielded Technologies, the developer behind the Midnight privacy chain.

In an interview with Cointelegraph at Consensus 2025, Barak said corporate service providers and centralized servers are expected to become honeypots for AI-assisted hackers and malicious actors looking to steal valuable data, including private keys, financial metadata, medical records, and government documents.

Hackers targeting centralized entities have a “massive” return on investment (ROI) and are incentivized to hack centralized targets that contain millions of valuable records, the CEO told Cointelegraph. Barak added that ZK-proofs, a way of verifying onchain data without revealing it, solve this problem:

“Blockchain is going to improve cybersecurity around the world, because, for a hacker to get to actual data, they need to hack individual wallets, but their ROI would be one record instead of millions — not worth it. They are going to go elsewhere.”

Privacy solutions have become a major focus for many Web3 developers, as the need to shield metadata from AI algorithms grows and large institutions demand privacy tools to protect sensitive data as a prerequisite to bringing their business operations onchain.

Midnight generates shielded assets that provide users with onchain privacy while maintaining compliance. Source: Midnight

Related: EU to ban anonymous crypto accounts and privacy coins by 2027

Cardano’s Hoskinson teases multichain airdrop

Speaking at Consensus 2025, Cardano co-founder Charles Hoskinson announced an upcoming Midnight token airdrop for holders of Avax (AVAX), XRP (XRP), Bitcoin (BTC), Brave Attention Token (BAT), and others. Midnight is a partner chain of the Cardano network.

Hoskinson the multichain airdrop will unite the industry through cooperative tokenomics and will promote collaboration. “We have a chance to come together again, and I think in this divisive era, the industry absolutely needs that.”

Charles Hoskinson at Consensus 2025. Source: Cointelegraph

Barak also told Cointelegraph that Midnight would invite interested users across the entire Web3 ecosystem to mine the Midnight token following the initial multichain airdrop.

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Blockchain privacy tools such as zero-knowledge (ZK) proofs will become increasingly necessary to protect online user data in the age of artificial intelligence, according to Eran Barak, CEO of Shielded Technologies, the developer behind the Midnight privacy chain.

In an interview with Cointelegraph at Consensus 2025, Barak said corporate service providers and centralized servers are expected to become honeypots for AI-assisted hackers and malicious actors looking to steal valuable data, including private keys, financial metadata, medical records, and government documents.

Hackers targeting centralized entities have a “massive” return on investment (ROI) and are incentivized to hack centralized targets that contain millions of valuable records, the CEO told Cointelegraph. Barak added that ZK-proofs, a way of verifying onchain data without revealing it, solve this problem:

“Blockchain is going to improve cybersecurity around the world, because, for a hacker to get to actual data, they need to hack individual wallets, but their ROI would be one record instead of millions — not worth it. They are going to go elsewhere.”

Privacy solutions have become a major focus for many Web3 developers, as the need to shield metadata from AI algorithms grows and large institutions demand privacy tools to protect sensitive data as a prerequisite to bringing their business operations onchain.

Midnight generates shielded assets that provide users with onchain privacy while maintaining compliance. Source: Midnight

Related: EU to ban anonymous crypto accounts and privacy coins by 2027

Cardano’s Hoskinson teases multichain airdrop

Speaking at Consensus 2025, Cardano co-founder Charles Hoskinson announced an upcoming Midnight token airdrop for holders of Avax (AVAX), XRP (XRP), Bitcoin (BTC), Brave Attention Token (BAT), and others. Midnight is a partner chain of the Cardano network.

Hoskinson the multichain airdrop will unite the industry through cooperative tokenomics and will promote collaboration. “We have a chance to come together again, and I think in this divisive era, the industry absolutely needs that.”

Charles Hoskinson at Consensus 2025. Source: Cointelegraph

Barak also told Cointelegraph that Midnight would invite interested users across the entire Web3 ecosystem to mine the Midnight token following the initial multichain airdrop.

Magazine: UK’s Orwellian AI murder prediction system, will AI take your job? AI Eye

Semler Scientific, a medical device company, purchased of $50 million worth of Bitcoin between May 13 and May 22, bringing the market value of the company’s Bitcoin (BTC) holdings to $474.4 million, keeping it within the top 13 of BTC Treasury companies.

According to a May 23 disclosure, Semler bought a total of 455 BTC for an average purchase price of $109,801. To buy the Bitcoin, Semler Scientific used proceeds from an at-the-market stock offering program. So far, the company has sold roughly 3 million shares of common stock for net proceeds of $115 million.

Semler Scientific’s shares have fallen 1.36% on the same day as the disclosure, though the decrease in its share price is largely in line with the Nasdaq’s performance. That index, which follows top tech stocks, is down 1% on the day.

Semler Scientific share price. Source: Google Finance

In its Q1 2025 earnings report released on May 13, the company revealed a 44% drop in revenue year-over-year. Despite the claimed success of its Bitcoin treasury plan, Semler Scientific’s shares have dropped 18% in 2025, according to Google Finance.

Bitcoin treasury companies, or companies that traditionally sell equity or issue debt to buy BTC, had been drawing the interest of investors looking for exposure to Bitcoin price fluctuations.

Michael Saylor’s Strategy debuted its BTC reserve in August 2020, when it started purchasing Bitcoin. Bitcoin is up 181.6% year to date, while Semler Scientific shares rose 53% since announcing the BTC approach in May 2024.

Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet

Texas Governor Greg Abbott has signaled support for a bill recently passed by the state House of Representatives that would establish a strategic cryptocurrency reserve.

In a May 22 X post, Abbott posted a Techstory article about Texas state lawmakers’ efforts to create a Bitcoin (BTC) reserve. The story pointed out that the decision for the passage of SB 21, the bill in question, now rests on Abbott’s shoulders, roughly three months after it was introduced. 

Since taking office, Abbott referred to himself as a “crypto law proposal supporter” in 2021 and suggested that he would support policies to establish Texas as a “crypto capital” in 2024. Texas was one of a handful of state-level governments that proposed setting up a strategic crypto reserve after the 2024 federal elections.   

Related: Ukraine strategic Bitcoin reserve bill reportedly in final stages

On May 6, New Hampshire Governor Kelly Ayotte was the first to sign a Bitcoin reserve bill into law. Arizona Governor Katie Hobbs later approved a law allowing the state to claim ownership of unclaimed crypto. Some jurisdictions have rebuffed efforts to pass similar legislation, with roughly half of the 50 state governments considering a Bitcoin reserve.

New administration working to have the US government hodl

At the federal level, US President Donald Trump signed an executive order (EO) in March for a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” but Congress had not codified the order as of May 23. Wyoming Senator Cynthia Lummis has led efforts in the chamber to pass the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide, or BITCOIN, Act, reintroduced a few days after Trump’s EO.

As of March 11, the bill has been referred to the Senate Banking Committee, and it was unclear if or when the chamber would consider a vote. The Senate will likely first move forward with debate on a bill to regulate payment stablecoins, the GENIUS Act, with some lawmakers anticipating a vote by Memorial Day, May 26.

Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K

When Venezuela was experiencing hyperinflation, Ledn co-founder Mauricio di Bartolomeo hedged against the collapsing local currency by shorting it in favor of the more stable US dollar. Today, he’s using a similar strategy — this time borrowing against his Bitcoin (BTC) to hedge against the crumbling US dollar.

Di Bartolomeo connected with me during Canada Crypto Week in Toronto, where he talked about the advantages of Bitcoin-backed loans and the rapid growth of collateralized BTC lending. In our interview, he made a compelling case for continuing to stack sats, even as Bitcoin’s price keeps rising.

This week’s Crypto Biz dives into our conversation with the Ledn co-founder and covers the latest business news from the blockchain world.

A lesson from hyperinflation

Before Bitcoin, di Bartolomeo’s most successful investment was shorting the Bolivar with US dollars, referring to his experience in Venezuela during the hyperinflationary 2010s. 

“I was borrowing Bolivars and buying dollars with them, holding the hard dollars and having a borrow [position] on the weaker currency,” he said.

He then founded Ledn, a company that lets Bitcoin investors access dollar liquidity without parting ways with their BTC. 

By borrowing against Bitcoin, “you’re basically doing the same thing, but you are in effect holding the hard money, which is Bitcoin, and taking a borrow [position] on dollars, which is a weaker currency,” he said.

Many Bitcoiners have found this to be a winning strategy. By the end of Q4, Ledn’s loan book value was valued at $9.9 billion, according to Galaxy Research.

Cointelegraph’s Sam Bourgi and Ledn’s Mauricio di Bartolomeo.Guatemala’s largest bank integrates “invisible” crypto infrastructure

Banco Industrial, Guatemala’s largest bank, has integrated crypto infrastructure SukuPay into its mobile banking app, enabling users to receive US dollars more easily.

SukuPay said this integration is the first time a major Latin American retail bank has used a crypto-native protocol for its payment services.

Banco Industrial has more than 1,600 service locations across Guatemala and has also expanded into neighboring countries. 

The “key to mainstream adoption of blockchain technology is making it invisible to the end-user,” SukuPay CEO Yonathan Lapchik told Cointelegraph. 

With SukuPay’s technology, Banco Industrial app users can receive dollars from the US for a flat fee of $0.99, significantly lower than the typical 6% to 10% they currently pay, said Lapchik.

Bankers are panicking about stablecoins, NYU professor claims

America’s banking lobby sees yield-bearing stablecoins as a threat to its business model, which relies on taking deposits, paying depositors minimal interest and using those funds for higher-risk investments, according to NYU professor Austin Campbell.

In a May 21 social media post, Campbell claimed that he’s heard rumblings of “panic” over new stablecoins offering holders interest payments and other monetary rewards. 

He told Democratic lawmakers that “banks want you to protect their cartel so they can keep screwing your voters.”

Although Campbell didn’t mention any stablecoin assets by name, Cointelegraph reported in February that the Securities and Exchange Commission approved the country’s first yield-bearing stablecoin security by Figure Markets. At the time of its launch, the YLDS stablecoin offered a yield of 3.85%.

Pi Protocol and Spark Protocol have also developed interest-bearing tokens. 

Source: Austin CampbellStrategy continues to stack sats

With Bitcoin back above $100,000, Michael Saylor’s business intelligence firm, Strategy, has resumed its buying spree by acquiring 7,390 BTC last week for approximately $765 million.

The latest purchase brings Strategy’s total Bitcoin holdings to 576,230 BTC, with an unrealized gain of around $20 billion.

The announcement came just two days before Bitcoin surged past its previous all-time high, climbing above $109,000 for the first time since January. Like other risk assets, Bitcoin has benefited from improved investor sentiment following the suspension of tariff hostilities between the United States and China.

Source: Michael Saylor

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

Members of the US House of Representatives called for the Justice Department to investigate Donald Trump’s May 22 dinner for his top memecoin investors, citing concerns about “foreign influence over US policy decisions” and “potential corruption and emoluments clause violations.”

In a May 22 letter to the Justice Department, 35 House members asked the public integrity section acting chief, Edward Sullivan, to launch an inquiry over the memecoin dinner to determine whether it violated the federal bribery statute or the foreign emoluments clause of the US Constitution. 

Under the emoluments clause, a US president is barred from accepting any gift from a foreign state without the approval of Congress. Bloomberg reported that a majority of the attendees at the memecoin dinner were likely foreign nationals based on their connections to crypto exchanges. 

“US law prohibits foreign persons from contributing to US political campaigns,” said the letter. “However, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, opens the door for foreign governments to buy influence with the President, all without disclosing their identities.”

May 22 letter to DOJ official calling for investigation into Trump memecoin dinner. Source: Representative Sean Casten

The call for an investigation and a press conference asking Trump to “release the guest list” for the dinner both occurred hours before the event, which was held at the Trump National Golf Club outside Washington, DC. A group of protesters, joined by Senator Jeff Merkley, gathered outside the venue with signs stating “illegal crypto party” and “democracy is not for sale.”

Related: Who attended Trump’s controversial memecoin dinner?

Though some of the dinner attendees covered their faces with masks to conceal their identities, protesters and members of the media confirmed that Tron founder Justin Sun appeared at the event, as well as other Trump supporters who posted to social media. The complete list of attendees was not available at the time of publication. 

The memecoin dinner still has the potential to affect pending legislation in Congress

In addition to the call for a DOJ investigation, Democratic lawmakers in the House and Senate proposed legislation to address what they called “Trump’s crypto corruption” as Congress considered a bill to regulate stablecoins and a market structure bill. 

Several Senate Democrats who initially voted against advancing the stablecoin bill, called the GENIUS Act, later sided with Republicans to set up a debate in the chamber.

Representative Maxine Waters introduced a bill to limit the access of any US president, vice president, members of Congress and their families to cryptocurrencies. Members of the Senate will also propose an amendment to the GENIUS Act to address Trump’s connection to World Liberty Financial, a crypto platform backed by the president’s family that issued its USD1 stablecoin.

Magazine: AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI Eye

Key points:

Bitcoin slipped below $109,588, but technical charts suggest traders are buying each dip.

Excessive leverage in Bitcoin futures increases the risk of a quick correction.

Select altcoins have turned down from their respective overhead resistance levels, signaling that the bears remain sellers on rallies.

Sellers have pulled Bitcoin (BTC) back below the breakout level of $109,588, but lower levels are likely to attract buyers. Investor interest remains strong, with the US spot Bitcoin exchange-traded funds witnessing inflows of $934 million on May 22 and $608 million on May 21, according to SoSoValue data.

Glassnode noted that the all-time high above $109,588 led to a total profit-taking volume of roughly $1 billion, far more muted than the $2 billion when the price rose above $100,000 in December. That shows the investors expect the up move to continue.

Veteran trader Peter Brandt said in a post on X that Bitcoin was on target to hit between $125,000 and $150,000 by the end of August.

Crypto market data daily view. Source: Coin360

A strong rally attracts speculators who load up on leverage. CoinGlass data shows that Bitcoin futures open interest rose to just over $80 billion on May 23. Excessive leverage increases the risk of forced liquidation when prices witness a sharp pullback. Therefore, traders should exercise caution.

What are the critical support levels for Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Sellers are trying to sustain the price below the breakout level of $109,588, which may trap the aggressive bulls. That could pull the price to the 20-day exponential moving average ($103,652).

BTC/USDT daily chart. Source: Cointelegraph/TradingView

A solid bounce off the 20-day EMA suggests that the sentiment remains positive and traders are buying on dips. The bulls will then again attempt to resume the uptrend by pushing the price above $111,980. If they can pull it off, the BTC/USDT pair could dash toward the target objective of $130,000.

The first sign of weakness will be a break below the 20-day EMA. That clears the path for a drop to the psychologically crucial level of $100,000. Buyers are expected to fiercely defend the $100,000 level because a break below it could sink the pair to the 50-day simple moving average ($94,001).

Ether price prediction

Ether (ETH) turned down from the $2,738 resistance, indicating that the bears are vigorously defending the level.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The ETH/USDT pair could drop to the 20-day EMA ($2,388), which is a vital support to keep an eye on. If the price rebounds off the 20-day EMA with strength, the bulls will again try to clear the $2,738 hurdle. If they do that, the pair could soar to $3,000. There is resistance at $2,850, but it is likely to be crossed.

This positive view will be invalidated in the near term if the price continues to fall and breaks below the 20-day EMA. The pair could plunge to $2,323 and then to $2,111.

XRP price prediction

XRP (XRP) remains stuck inside the $2.65 to $2 range, indicating a balance between supply and demand.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($2.35) is flattening out, and the RSI is near the midpoint, suggesting that the XRP/USDT pair may extend its stay inside the range for a few more days.

A break and close above $2.65 will complete a bullish inverse head-and-shoulders pattern, which has a target objective of $3.70. Alternatively, a break below the $2 level suggests that the bears have overpowered the bulls. That increases the likelihood of a drop to $1.60 and subsequently to $1.27.

BNB price prediction

BNB (BNB) turned down sharply from the $693 resistance on May 23, signaling aggressive selling by the bears.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The BNB/USDT pair bounced off the 20-day EMA ($647), as seen from the long tail on the candlestick. That shows solid buying at lower levels. The bulls will again try to thrust the price above $693. If they manage to do that, the pair could skyrocket to the $732 to $761 resistance zone.

Instead, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are booking profits. The pair may then plummet to the 50-day SMA ($612).

Solana price prediction

Solana (SOL) climbed above the $180 resistance on May 23, but the bears are posing a strong challenge at $185.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($167) and the RSI in the positive zone indicate the path of least resistance is to the upside. If buyers sustain the price above $185, the SOL/USDT pair could rally to $210 and later to $220.

Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are rushing to the exit. That heightens the risk of a drop to the 50-day SMA ($147).

Dogecoin price prediction

Dogecoin (DOGE) turned down from the $0.26 overhead resistance on May 23, indicating that the bears are fiercely defending the level.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The DOGE/USDT pair could descend to the 20-day EMA ($0.21), which is an important support to watch out for. A solid bounce off the 20-day EMA signals a positive sentiment, improving the prospect of a break above $0.26. If that happens, the pair could rally to $0.35. There is resistance at $0.29, but it is likely to be crossed.

This optimistic view will be invalidated in the near term if the price turns down and breaks below $0.21. That suggests a possible range-bound action between $0.14 and $0.26.

Cardano price prediction

Cardano (ADA) bounced off the neckline of the inverse H&S pattern, but the bulls could not clear the overhead obstacle at $0.86.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

If the price continues lower and breaks below the neckline, it shows that the bears are active at higher levels. The ADA/USDT pair could drop to the 50-day SMA ($0.69) and later to the solid support at $0.60.

Contrarily, a solid bounce off the 20-day EMA ($0.75) shows demand at lower levels. The bulls will then again attempt to kick the price above $0.86. If they succeed, the pair could ascend to $1.01.

Related: Bitcoin’s new all-time high has traders asking: Is BTC price overheating at $111K?

Sui price prediction

Buyers failed to push Sui (SUI) above the overhead resistance of $4.25 on May 22, indicating that the bears are aggressively defending the level.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

Repeated failure to cross the $4.25 level may have tempted short-term buyers to book profits. That pulled the price below the 20-day EMA ($3.73). If the price sustains below the 20-day EMA, the SUI/USDT pair could plummet to the 50-day SMA ($3.09).

On the contrary, if the price turns up from the 20-day EMA and breaks above $4.25, it indicates the resumption of the up move. The pair could climb to $5 and eventually to $5.37, where the bears are expected to step in.

Hyperliquid price prediction

Hyperliquid (HYPE) soared above the stiff overhead resistance of $28.50 on May 22, indicating the start of the next leg of the up move.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The bulls pushed the price above the $35.73 resistance on May 23, but the long wick on the candlestick shows the bears are trying to defend the level. If buyers do not cede much ground to the bears, the HYPE/USDT pair could surge to $42.25.

Time is running out for the bears. If they want to make a comeback, they will have to swiftly drag the price back below the 20-day EMA ($26.32). That signals the pair has formed a local top near $37.59.

Chainlink price prediction

Chainlink (LINK) closed above the resistance line of the descending channel pattern on May 22, but the bulls are finding it difficult to maintain the momentum.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The bears are trying to pull the price back into the descending channel. If the price skids below the neckline, it suggests that the breakout above the resistance line may have been a bull trap. The LINK/USDT pair could sink to $13.20, keeping the price stuck inside the channel for some more time.

Conversely, a solid bounce off the resistance line indicates that the bulls are trying to flip the level into support. The pair could rise to $18 and thereafter to $19.80.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Risk appetite across traditional and cryptocurrency markets saw a sharp rise this week, helping United States cryptocurrency funds recover the capital lost to the correction of February and March, amassing over $7.5 billion worth of weekly inflows.

Bitcoin (BTC) surpassed its old all-time high on May 21, two days after President Donald Trump confirmed ongoing ceasefire negotiations between Russia and Ukraine in a May 19 X post.

Meanwhile, popular analyst and Global Macro Investor CEO Raoul Pal warned of more fiat currency debasement, urging investors to gain more exposure to cryptocurrencies and non-fungible tokens (NFTs), as these assets “will never be this cheap again.”

Exponential currency debasement: “You don’t own enough crypto, NFTs”

Cryptocurrencies and NFTs can help investors protect their eroding purchasing power during an era of exponential currency debasement, according to analysts and industry leaders.

Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor.

“You don’t own enough crypto. When you do, you don’t own enough NFT’s, as art is upstream of wealth. Both will never be this cheap again,” Pal said.

NFTs are “the single best long term store of wealth I know and you get to buy it before network effects kick in,” he added in another response.

Source: Raoul Pal

“There is some validity to the statement that NFTs, and in extension art, become a vehicle for the wealthy once a certain level of wealth is reached,” wrote Nicolai Sondergaard, research analyst at Nansen, calling it a “natural move” for asset diversification.

“For traders and investors, further down the wealth curve, NFTs are partially about speculating on future returns,” he told Cointelegraph, adding that NFTs also benefit from the allure of strong communities, beyond just wealth creation.

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US crypto funds top $7.5 billion inflows in 2025 as investor appetite grows

Crypto investment products in the United States have attracted over $7.5 billion worth of investment in 2025, with a fifth week of net positive inflows last week signaling growing investor demand for digital assets.

US-based crypto investment products attracted $785 million worth of investment last week, pushing the year-to-date (YTD) total to over $7.5 billion, according to a May 19 report by digital asset manager CoinShares.

The latest figure marks the fifth consecutive week of net positive flows, following nearly $7 billion in outflows during February and March.

Weekly crypto asset flows, USD, million. Source: CoinShares

The United States accounted for the bulk of inflows, with $681 million, followed by Germany at $86.3 million and Hong Kong at $24.4 million.

Crypto flows by country. Source: CoinShares

Investor demand for risk assets such as cryptocurrencies staged a significant recovery after the White House announced a 90-day pause on additional tariffs on May 12, which marked a 24% cut for import tariffs for both the US and China.

A day after the announcement, Coinbase exchange saw 9,739 Bitcoin worth more than $1 billion withdrawn from the exchange — the highest net outflow recorded in 2025, signaling that institutional appetite was “accelerating,” according to Bitwise’s head of European research, André Dragosch.

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VanEck to launch Avalanche ecosystem fund

VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph.

The VanEck PurposeBuilt Fund, available only to accredited investors, aims to invest in liquid tokens and venture-backed projects across Web3 sectors, including gaming, financial services, payments, and artificial intelligence. 

Idle capital will be deployed into Avalanche (AVAX) real-world asset (RWA) products, including tokenized money market funds, VanEck said.

The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. 

“The next wave of value in crypto will come from real businesses, not more infrastructure,” Pranav Kanade, portfolio manager for DAAF, said in a statement.

RWAs are among crypto’s fastest-growing segments. Source: RWA.xyz

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Yield-bearing stablecoins surge to $11 billion, now 4.5% of market: Report

Yield-bearing stablecoins have soared to $11 billion in circulation, representing 4.5% of the total stablecoin market, a steep climb from just $1.5 billion and a 1% market share at the start of 2024.

One of the biggest winners is Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates. Pendle now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, according to a report from Pendle compiled by analysts from Spartan Group and Modular Capital shared with Cointelegraph.

The report noted that stablecoins make up 83% of its $4 billion total value locked, a sharp rise from less than 20% just a year ago. In contrast, assets such as Ether (ETH), which historically contributed 80%–90% of Pendle’s TVL, have shrunk to less than 10%.

Traditional stablecoins like USDt (USDT) and USDC (USDC) do not pass on interest to holders. With over $200 billion in circulation and US Federal Reserve interest rates at 4.3%, Pendle estimates that stablecoin holders are missing out on more than $9 billion in annual yield.

Pendle TVL share by assets. Source: Pendle

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Tether surpasses Germany’s $111 billion of US Treasury holdings

Tether, the $151 billion stablecoin issuance giant, has surpassed Germany in United States Treasury bill holdings, showcasing the benefits of a diversified reserve strategy that has helped the firm navigate the volatility of the cryptocurrency market.

Tether, the issuer of the world’s largest stablecoin, USDT, has surpassed Germany’s $111.4 billion worth of US Treasurys, data from the US Department of the Treasury shows.

Foreign countries by US Treasury holdings. Source: Ticdata.treasury.gov

Tether has surpassed $120 billion worth of Treasury bills, the firm shared in its attestation report for the first quarter of 2025. That makes Tether the 19th largest entity among all counties in terms of T-bill investments.

“This milestone not only reinforces the company’s conservative reserve management strategy but also highlights Tether’s growing role in distributing dollar-denominated liquidity at scale,” wrote Tether in the report. 

During 2024, Tether was the seventh-largest buyer of US Treasurys across all countries, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong and numerous other countries, Cointelegraph reported in March 2025.

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DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

Worldcoin (WLD) rose over 32% as the week’s biggest gainer in the top 100, followed by the Hyperliquid (HYPE) token, up over 30% on the weekly chart.

Total value locked in DeFi. Source: DefiLlama

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.