Opinion by: Ahmad Shadid of O.xyz

Semiconductors scored a rare exemption from US President Donald Trump’s aggressive reciprocal tariffs, but the relief is symbolic at best. Most semiconductors enter the US embedded in servers, GPUs, laptops, and smartphones. 

The finished goods remain heavily tariffed, some with duties reaching up to 49%. The exemption looks good politically but delivers little practical benefit. Nvidia’s DGX systems, crucial for training advanced AI models, do not fall under the exempted HTS codes. Nvidia could pay effective tariffs nearing 40% on these vital components. Such costs threaten to stall critical AI infrastructure projects across the country. 

Semiconductor tariffs may compromise the goal of the CHIPS Act. The act promised tens of billions of dollars in subsidies to support domestic chip manufacturing. Yet advanced lithography machines — key equipment from countries like the Netherlands and Japan — face 20%–24% tariffs. Ironically, tariffs designed to boost American production increase the cost of essential manufacturing equipment.

The effect of new tariffs is already slowing progress in critical supply chains — just as generative AI and large language models are gaining momentum across sectors like finance and defense. Any delays or cost increases now could blunt America’s technological advantage.

Indirect costs undermine exemptions for AI

Modern semiconductor supply chains are global and highly integrated. An exemption on raw silicon means nothing when servers, GPUs and other finished products face steep tariffs. Tariffs indirectly inflate costs, eliminating any competitive advantage from domestic manufacturing.

Indirect tariff costs hit high-end systems disproportionately hard. The effect ripples through AI model training, data center expansions and major infrastructure projects, significantly slowing the industry’s momentum.

Tariff impasse halts investment

So far, it’s clear that the US president’s tariff plan didn’t follow any conventional economic trends or calculated strategy. The uncertain tariff situation stalls investment decisions across the technology sector. Companies need predictable costs to justify large capital expenditures. Ongoing tariff volatility prevents them from committing resources to new data centers and manufacturing lines.

This mirrors the supply chain chaos of 2020. At that time, uncertainty caused massive order cancellations and slowed industry recovery for years. If tariff ambiguity continues, we could see similar waves of cancellations in 2025. This would further compound existing inventory and revenue issues in the semiconductor sector.

Domestic production is not optimal

The border argument for these tariffs is that they’re meant to boost domestic production. They do little, however, to encourage genuine domestic semiconductor production. Despite subsidies under the CHIPS Act, most US semiconductor companies still rely on international foundries for manufacturing. Instead, they face increased equipment and operational costs.

Recent: How trade wars impact stocks and crypto

The idea that tariffs promote domestic production ignores the reality of global semiconductor manufacturing. Costs rise across the board, putting American companies at a disadvantage rather than offering protection.

AI projects face heightened risk

The blockchain and crypto sectors, particularly AI-driven projects, also feel the pinch. Projects depend heavily on GPUs and high-performance servers for mining, validating transactions and running decentralized AI computations. Increased hardware costs directly affect profitability and growth, potentially stalling innovation in blockchain applications. 

AI developments have just started to pick up the pace in the blockchain and Web3 space. The industry saw increased interest from investors and VCs just a year ago. So, they are still on tighter budgets. Elevated costs can, however, lead to stagnation. We might see innovators and developers exiting the market. The ripple effect extends beyond the general technology sector and could threaten future digital economies. 

Moreover, these cost pressures disproportionately affect startups and smaller tech firms. Industry giants can absorb additional expenses, but innovative, smaller players face existential threats. This dynamic risks stifling innovation at the grassroots level, harming the entire tech ecosystem.

What to expect 

Semiconductors have momentarily escaped direct tariffs, but the exemption provides little benefit. Tariffs continue to hit finished products, driving up indirect costs across the industry. Instead of boosting domestic manufacturing, these tariffs create economic paralysis, stall critical infrastructure projects, and threaten America’s lead in AI innovation. Policymakers must acknowledge these realities and adjust their approach before irreversible damage is done to the nation’s technological future.

Opinion by: Ahmad Shadid of O.xyz.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Cryptocurrencies and non-fungible tokens (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.

Related: German gov’t missed out on $2.3B profit after selling Bitcoin at $57K

Art NFTs may see a resurgence as “digital ownership gains acceptance among younger, tech-savvy cohorts,” if collections manage to move past the “speculative fervor,” according to Anndy Lian, author and intergovernmental blockchain expert.

Still, Lian said broader adoption depends on blockchain networks improving scalability and security to “instill confidence.” He added that art NFTs “must transcend hype, anchoring value in cultural significance or utility.”

Beeple’s “Everydays: The First 5000 Days.” Source: Christies

Some digital artists made millions of dollars through NFTs. Digital artist Mike Winkelmann, also known as Beeple, auctioned his “Everydays: The First 5000 Days,” NFT artwork for a record-breaking $69 million in March 2021.

Meanwhile, the largest NFT collections continue to lack upside momentum, unable to recover toward their 2021 highs.

CryptoPunks floor price, all-time chart. Source: NFTpricefloor

CryptoPunks, the largest NFT collection by market capitalization, is currently trading at a floor price of 46 Ether (ETH), 59% down from its peak of 113.9 ETH, recorded on Oct. 9, 2021, NFTpricefloor data shows.

Related: GENIUS Act ‘legitimizes’ stablecoins for global institutional adoption

NFT market set for recovery in early 2026, after Bitcoin cycle top

Despite the temporary lack of interest, NFTs could be poised to see more momentum after the profits from Bitcoin’s (BTC) cycle top start rotating into other digital assets.

“That likely puts the peak of the NFT market in Q1 2026, but don’t expect a repeat of the 21/22 euphoria that we saw in NFTs,” according to Yehudah Petscher, strategist at CryptoSlam NFT data platform and SlamAI.

“We’re likely an entire cycle away from NFTs having a parabolic run,” Petscher told Cointelegraph, adding:

“There is a perfect storm brewing for 2030: BTC at $1 million, a matured metaverse, AI reshaping labor economics (whether through universal basic income or universal high income, falling production costs, etc), AR/VR adoption, and NFT ownership equaling ownership of a brand.”

However, the previous NFT bull market was driven largely by metaverse speculation and wealthy traders, Petscher noted — factors that are mostly absent in the current cycle.

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.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Cryptocurrencies and non-fungible tokens (NFTs) can help investors protect their eroding purchasing power during the 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.

Related: German gov’t missed out on $2.3B profit after selling Bitcoin at $57K

Art NFTs may see a resurgence as “digital ownership gains acceptance among younger, tech-savvy cohorts,” if collections manage to move past the “speculative fervor,” according to Anndy Lian, author and intergovernmental blockchain expert.

Still, Lian said broader adoption depends on blockchain networks improving scalability and security to “instill confidence.” He added that art NFTs “must transcend hype, anchoring value in cultural significance or utility.”

Beeple’s “Everydays: The First 5000 Days.” Source: Christies

Some digital artists made millions of dollars through NFTs. Digital artist Mike Winkelmann, also known as Beeple, auctioned his “Everydays: The First 5000 Days,” NFT artwork for a record-breaking $69 million in March 2021.

Meanwhile, the largest NFT collections continue to lack upside momentum, unable to recover toward their 2021 highs.

CryptoPunks floor price, all-time chart. Source: NFTpricefloor

CryptoPunks, the largest NFT collection by market capitalization, is currently trading at a floor price of 46 Ether (ETH), 59% down from its peak of 113.9 ETH, recorded on Oct. 9, 2021, NFTpricefloor data shows.

Related: GENIUS Act ‘legitimizes’ stablecoins for global institutional adoption

NFT market set for recovery in early 2026, after Bitcoin cycle top

Despite the temporary lack of interest, NFTs could be poised to see more momentum after the profits from Bitcoin’s (BTC) cycle top start rotating into other digital assets.

“That likely puts the peak of the NFT market in Q1 2026, but don’t expect a repeat of the 21/22 euphoria that we saw in NFTs,” according to Yehudah Petscher, strategist at CryptoSlam NFT data platform and SlamAI.

“We’re likely an entire cycle away from NFTs having a parabolic run,” Petscher told Cointelegraph, adding:

“There is a perfect storm brewing for 2030: BTC at $1 million, a matured metaverse, AI reshaping labor economics (whether through universal basic income or universal high income, falling production costs, etc), AR/VR adoption, and NFT ownership equaling ownership of a brand.”

However, the previous NFT bull market was driven largely by metaverse speculation and wealthy traders, Petscher noted — factors that are mostly absent in the current cycle.

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.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Key takeaways:

Memecoins like Fartcoin, WIF, SPX6900, and Popcat are outperforming Bitcoin in the short term amid renewed crypto market euphoria.

Bullish technical patterns signal more upside for top-performing memecoins.

Popcat stands out with a potential 350% rally, while Fartcoin and WIF also eye significant gains in the coming weeks.

Bitcoin (BTC) has surged 7.35% over the past three days, hitting a new all-time high near $112,000 on May 22, but memecoins are stealing the spotlight.

Fueled by BTC’s rally, several high-risk tokens are posting even larger gains, stoking possibilities that they could continue to outperform Bitcoin as the crypto bull run accelerates.

Fartcoin ascending channel hints at more gains

Solana-based Fartcoin (FARTCOIN) memecoin has surged 30% in the last three days to hit $1.57 as of May 22, its highest level in the last four months.

The rally extends Fartcoin’s strong year-to-date (YTD) performance — up 74.50% — amid the ongoing memecoin frenzy. In comparison, Bitcoin has risen 18% so far in 2025.

Technically, Fartcoin is trading within a well-defined ascending channel that began forming in early March, suggesting sustained bullish momentum.

FARTCOIN/USDT daily price chart. Source: TradingView

The memecoin has also broken above its 50-day exponential moving average (50-day EMA; the red wave), currently near $1.06, a key support level in uptrends.

FARTCOIN’s relative strength index (RSI) was hovering near 64 as of May 22, suggesting there is room to run before selling conditions emerge near the overbought threshold at 70.

If the uptrend holds, Fartcoin could retest the channel’s upper boundary near $2.74 by June, up 80% from the current price levels.

Dogwifhat price could double

Like FARTCOIN, Dogwifhat (WIF) has outperformed Bitcoin during the recent rally, up over 27% in the past three days. But the Solana memecoin has underperformed the top cryptocurrency year-to-date, down about 38%.

But a bull pennant formation may put Dogwifhat in a position to catch up in the coming weeks.

As of May 22, WIF’s price was testing the pennant’s upper trendline for a breakout, with its technical target at around $2.50, up about 125% from the current price levels.

WIF/USDT daily price chart. Source: TradingView

The upside target aligns with the 0.5 Fibonacci retracement line, which has served as resistance during WIF’s consolidation phase between November 2024 and January 2025.

SPX6900 eyes 50% gains following breakout

Ethereum-based SPX6900 (SPX6900) has surged 35% in the last three days, paring its 2025 losses. It is, therefore, underperforming Bitcoin on a YTD timeframe but, like WIF, shows the potential of outperforming BTC this cycle in percentage terms.

At the core of this bullish outlook is SPX6900’s ongoing bullish reversal attempts. As of May 22, the memecoin had entered the breakout stage of its prevailing ascending triangle pattern, eyeing a rally toward $1.34 by June.

SPX6900/USDT daily price chart. Source: TradingView

The upside target is up 50% from the current price levels, which was the resistance in January.

Popcat preps 350% rally setup

Solana’s Popcat (POPCAT) gained 30% during Bitcoin’s rally, reaching its record high, but it remains an underperformer YTD.

Related: Bitcoin ‘looks exhausted’ as next bear market yields $69K target

However, a convincing cup-and-handle formation on POPCAT’s daily chart increases its potential of outperforming Bitcoin in the coming weeks or months.

POPCAT/USDT daily price chart. Source: TradingView

As of May 22, the memecoin was testing the pattern’s neckline at $0.57 for a breakout toward $2.50, up by over 350%. This target is obtained by adding the neckline — a potential breakout point — to the cup-and-handle’s maximum height.

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.

Key takeaways:

XRP price has gained 4% over the last 24 hours to $2.43, and its open interest has risen by 25%.

Positive spot market activity flips the futures funding rate positive, suggesting a return of investor optimism.

XRP could rally to $14 if a classic bull flag pattern is confirmed.

XRP printed a “bull flag” triangle on the weekly chart, a technical pattern associated with strong upward momentum. Breaking above this technical setup and a surge in XRP futures demand could signal a rally to $14.

Increasing OI rising with XRP price

XRP (XRP) rose in tandem with the wider crypto market on May 22, fueled by Bitcoin’s rally to fresh all-time highs above $111,000. 

XRP price followed with as much as 5.5% gains to an intraday high of $2.45 on May 22 from a low of $2.33 on May 21. 

Its open interest (OI) climbed 25% over the last 24 hours to $4.95 billion on May 22, signaling the return of derivatives traders and more capital into the market.

XRP open interest. Source: CoinGlass

Historically, significant leaps in OI have preceded major rallies in XRP price. For example, the current scenario mirrors the XRP price rise when US President Donald Trump directed the creation of a crypto strategic reserve to include XRP, Solana (SOL), and Cardano’s ADA (ADA) in early March, leading to a 46% jump in OI to $4.63 billion from $3.05 billion between March 2 and March 3.

Related: Why is the crypto market up today?

This accompanied a 36% rise in XRP price to a high of $2.96 from a low of $2.17 over the same period.

Meanwhile, XRP’s eight-hour perpetual contracts funding rate stood at 0.0126% on May 22, an improvement from the 0.0033% level observed on May 21. It is now significantly higher than the -0.0005% recorded three weeks ago. This suggests increasing bullishness among derivatives retail traders.

XRP funding rates. Source: CoinGlassIs XRP price headed for double digits?

The XRP/USD pair is well-positioned to resume its bullish momentum as it paints a classic bullish pattern on the chart.

XRP’s price action has led to the formation of a bull flag pattern on the weekly chart since Nov. 5, 2025, as shown in the figure below. A weekly candlestick close above the flag’s upper boundary at $2.48 would produce another rally.

The target is set by the flagpole’s height, which comes to be around $14.50, an approximately 500% increase from the current price.

XRP/USD weekly chart featuring bull flag pattern. Source: Cointelegraph/TradingView

Other bullish indicators include the support provided by the simple moving averages sitting between $2.20 and $2.30 on the daily timeframe and the relative strength index resetting just above the 50 mark.

Several analysts have also predicted further gains for XRP, citing chart technicals and the price holding above key support levels. 

Market analyst Dom highlighted that XRP price has held perfectly above the monthly and quarterly volume-weighted average prices (VWAPs) of $2.32 and $2.27. 

The analyst emphasized that the altcoin must flip the all-time high VWAP at $2.47 to sustain a bullish continuation.

“The trigger for a leg up will be clearing the ATH VWAP (green). Watching closely for bulls to make this happen shortly.”XRP/USD eight-hour chart. Source: Dom

As Cointelegraph reported, XRP price could rise to between $5.24 and $17 in 2025 based on a symmetrical triangle target and Fibonacci projections.

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.

The United Kingdom’s Court of Appeal partially dismissed a lawsuit brought by Bitcoin SV investors against major crypto exchanges, including Binance, for allegedly conspiring to delist the token in 2019.

In a judgment handed down on May 21, the court ruled that investors who held BSV through the delisting period (classified as “sub-class B”) were not entitled to billions in speculative damages based on BSV’s hypothetical growth.

These investors had claimed over 8.9 billion British pounds ($11.9 billion) in damages, asserting that Binance’s delisting deprived holders of the chance to profit from BSV’s potential rise to a “top-tier cryptocurrency” like Bitcoin (BTC) or Bitcoin Cash (BCH).

The court rejected this “foregone growth effect” theory, stating, “BSV was obviously not a unique cryptocurrency without reasonably similar substitutes,” pointing to the representative’s own use of Bitcoin and Bitcoin Cash as comparators.

Sub-class B’s central claim was that delisting led to a missed opportunity to benefit from price appreciation. However, the court determined that those investors had ample opportunity to mitigate losses by selling or reinvesting in other crypto assets.

“They had a duty to mitigate their losses,” wrote Master of the Rolls Sir Geoffrey Vos. “They cannot recover losses that they could reasonably have mitigated.”

UK court ruling against Bitcoin SV investor’s lawsuit. Source: Caselaw

Related: Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit

Court strikes down “loss of a chance” argument

The appeal also challenged the Tribunal’s application of the “market mitigation rule,” arguing that such issues should be left for trial.

The court dismissed that notion, stating the rule clearly applies to freely tradable assets like BSV, and that the damages must be measured shortly after the delisting.

An additional argument concerning the “loss of a chance” to benefit from future price gains was also struck down. The court ruled it “flawed as a matter of principle,” noting that “cryptocurrencies are, by their nature, volatile investments.”

Binance’s limited strike-out application ultimately succeeded, with the court stating that even if some holders were unaware of the delisting, “they could never claim more than the total value of their holding before the delisting events plus any quantifiable consequential losses.”

Related: Binance wants arbitration for all members of securities class suit

Binance seeks to dismiss FTX lawsuit

On May 16, Binance filed a motion to dismiss a $1.76 billion lawsuit filed by the FTX estate, arguing that the claims are legally flawed and an attempt to shift responsibility for FTX’s collapse.

The exchange stated the downfall of FTX stemmed from internal fraud, not external manipulation, citing Sam Bankman-Fried’s conviction on multiple fraud charges.

Binance has asked the court to dismiss all claims with prejudice. The FTX estate has not yet filed its response.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story

The United Kingdom’s Court of Appeal partially dismissed a lawsuit brought by Bitcoin SV investors against major crypto exchanges, including Binance, for allegedly conspiring to delist the token in 2019.

In a judgment handed down on May 21, the court ruled that investors who held BSV through the delisting period (classified as “sub-class B”) were not entitled to billions in speculative damages based on BSV’s hypothetical growth.

These investors had claimed over 8.9 billion British pounds ($11.9 billion) in damages, asserting that Binance’s delisting deprived holders of the chance to profit from BSV’s potential rise to a “top-tier cryptocurrency” like Bitcoin (BTC) or Bitcoin Cash (BCH).

The court rejected this “foregone growth effect” theory, stating, “BSV was obviously not a unique cryptocurrency without reasonably similar substitutes,” pointing to the representative’s own use of Bitcoin and Bitcoin Cash as comparators.

Sub-class B’s central claim was that delisting led to a missed opportunity to benefit from price appreciation. However, the court determined that those investors had ample opportunity to mitigate losses by selling or reinvesting in other crypto assets.

“They had a duty to mitigate their losses,” wrote Master of the Rolls Sir Geoffrey Vos. “They cannot recover losses that they could reasonably have mitigated.”

UK court ruling against Bitcoin SV investor’s lawsuit. Source: Caselaw

Related: Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit

Court strikes down “loss of a chance” argument

The appeal also challenged the Tribunal’s application of the “market mitigation rule,” arguing that such issues should be left for trial.

The court dismissed that notion, stating the rule clearly applies to freely tradable assets like BSV, and that the damages must be measured shortly after the delisting.

An additional argument concerning the “loss of a chance” to benefit from future price gains was also struck down. The court ruled it “flawed as a matter of principle,” noting that “cryptocurrencies are, by their nature, volatile investments.”

Binance’s limited strike-out application ultimately succeeded, with the court stating that even if some holders were unaware of the delisting, “they could never claim more than the total value of their holding before the delisting events plus any quantifiable consequential losses.”

Related: Binance wants arbitration for all members of securities class suit

Binance seeks to dismiss FTX lawsuit

On May 16, Binance filed a motion to dismiss a $1.76 billion lawsuit filed by the FTX estate, arguing that the claims are legally flawed and an attempt to shift responsibility for FTX’s collapse.

The exchange stated the downfall of FTX stemmed from internal fraud, not external manipulation, citing Sam Bankman-Fried’s conviction on multiple fraud charges.

Binance has asked the court to dismiss all claims with prejudice. The FTX estate has not yet filed its response.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story

A crypto trader spent $3.8 million to buy Ether at a significantly higher price after selling the asset for almost the same amount about a month ago. 

On May 22, blockchain analytics firm Lookonchain reported that a crypto wallet spent $3.8 million to purchase 1,425 Ether (ETH) at $2,670 per coin, reentering ETH after a major rally. 

On April 13, the same wallet sold 2,522 ETH for $3.9 million, when the asset was trading at about $1,570, a decision that, in retrospect, looks poorly-timed. 

“Think twice before selling your bags,” Lookonchain wrote, highlighting the potential gains if the trader just held on to their Ether instead of selling and repurchasing it at a higher price point. 

Whale buys ETH after selling over a month ago. Source: DeBankTrader loses out on $2.6 million gain

With ETH up over 70% since the sale, the trader lost out on over 1,000 ETH, or roughly $2.67 million, in the process of buying back in. If the trader decided to hold on to their Ether, the assets would be worth about $6.7 million. 

As ETH rallied, the asset surpassed the market capitalization of big companies like Coca-Cola and Alibaba.

At the time of writing, company data tracker 8marketcap shows that Ether’s $321 billion market capitalization makes it the 38th most-valuable asset in the world, surpassing the pharmaceutical company AbbVie and inching closer to the Bank of America. 

Ether’s upswing is largely fueled by the successful launch of its Pectra upgrade. The new update introduced improvements to the network’s scalability, validator user experience and smart wallet functionality. These updates are expected to drive broader adoption of the Ethereum mainnet. 

Related: Bitcoin open interest hits record high as bulls stampede toward new BTC price highs

ETH leads crypto investment products with $205 million weekly inflows

Along with its recent price appreciation, ETH-based investment products in the United States also saw renewed interest. 

A May 19 report from digital asset manager CoinShares revealed that US crypto investment products saw $785 million in inflows last week. This development pushes the year-to-date (YTD) total for crypto ETPs to $7.5 billion. 

ETH was the top performer among the crypto exchange-traded products (ETPs), attracting $205 million in inflows last week. This represents 26% of all the inflows within the time period. This also brings ETH’s YTD total to over $575 million. 

The CoinShares report also attributed the increased inflows to renewed investor optimism following the Pectra upgrade and the Ethereum Foundation’s appointment of Tomasz Stańczak as a co-executive director. 

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story 

A crypto trader spent $3.8 million to buy Ether at a significantly higher price after selling the asset for almost the same amount about a month ago. 

On May 22, blockchain analytics firm Lookonchain reported that a crypto wallet spent $3.8 million to purchase 1,425 Ether (ETH) at $2,670 per coin, reentering ETH after a major rally. 

On April 13, the same wallet sold 2,522 ETH for $3.9 million, when the asset was trading at about $1,570, a decision that, in retrospect, looks poorly timed. 

“Think twice before selling your bags,” Lookonchain wrote, highlighting the potential gains if the trader just held on to their Ether instead of selling and repurchasing it at a higher price point. 

Whale buys ETH after selling over a month ago. Source: DeBankTrader loses out on $2.67 million gain

With ETH up over 70% since the sale, the trader lost out on over 1,000 ETH, or roughly $2.67 million, in the process of buying back in. If the trader had decided to hold on to their Ether, the assets would be worth about $6.7 million. 

As ETH rallied, the asset surpassed the market capitalization of big companies like Coca-Cola and Alibaba.

At the time of writing, company data tracker 8marketcap shows that Ether’s $321 billion market capitalization makes it the 38th most-valuable asset in the world, surpassing the pharmaceutical company AbbVie and inching closer to the Bank of America. 

Ether’s upswing was largely fueled by the successful launch of its Pectra upgrade. The update improved the network’s scalability, validator user experience and smart-wallet functionality. These updates are expected to drive broader adoption of the Ethereum mainnet. 

Related: Bitcoin open interest hits record high as bulls stampede toward new BTC price highs

ETH leads crypto investment products with $205 million weekly inflows

Along with its recent price appreciation, ETH-based investment products in the United States also saw renewed interest. 

A May 19 report from digital asset manager CoinShares revealed that US crypto investment products saw $785 million in inflows last week. This development pushes the year-to-date (YTD) total for crypto ETPs to $7.5 billion. 

ETH was the top performer among the crypto exchange-traded products (ETPs), attracting $205 million in inflows last week. This represented 26% of all the inflows within the time period. This also brought ETH’s YTD total to over $575 million. 

The CoinShares report attributed the increased inflows to renewed investor optimism following the Pectra upgrade and also the Ethereum Foundation’s appointment of Tomasz Stańczak as a co-executive director. 

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story 

Crypto awareness in Singapore has reached an all-time high, with 94% of respondents in a recent survey indicating familiarity with at least one digital asset.

However, actual ownership has declined, falling from 40% in 2023 to 29% in 2024, according to Independent Reserve’s fifth annual Singapore Crypto Market Survey released on May 21.

The survey, conducted in February with 1,500 participants, revealed that men remain more active in crypto investing than women, 35% compared to 24%.

Millennials and Gen X (aged 25–54) dominate the investor base, comprising 71% of all holders. Among those trading at least once a week, 76% fall into this age group.

Related: Singapore’s Grab taps Solana DePIN project Natix to ‘reshape mapping’

Half of Singaporean investors plan to increase holdings

Despite the decline in ownership, sentiment remains strong. Over half of current holders (53%) plan to increase their positions in the next 12 months, and 17% of non-holders expressed interest in entering the market.

Bitcoin (BTC) continues to be the anchor of the crypto market in Singapore. It is held by 68% of crypto investors and viewed by 86% as either a currency, store of value or investment asset. Notably, 77% believe Bitcoin will be worth over $100,000 by 2030.

Direct ownership remains the preferred method of exposure, with 61% choosing to hold their assets directly instead of through exchange-traded funds (ETFs).

Arbitrage trading is also on the rise, with 67% of respondents saying they had sold part or all of their holdings to capitalize on price swings in the past year.

Bitcoin is the most recognized crypto in Singapore, with 91% awareness, followed by Ethereum at 54%, Dogecoin at 41%, Shiba Inu at 23%, and Solana at 22%. Source: Independent Reserve

Meanwhile, 46% of investors hold stablecoins, primarily for trading and DeFi activities, with 83% of these tied to the US dollar.

Memecoins remain a speculative corner of the market, with 28% of respondents holding at least one, with Dogecoin (DOGE) being the most popular.

Related: Singapore Exchange to list Bitcoin futures in H2 2025: Report

Singapore becomes a global crypto hub

Singapore has cemented its role as a global hub for blockchain and cryptocurrency development, according to a December 2024 report by ApeX Protocol.

The study said Singapore leads the world with 1,600 blockchain patents, 2,433 crypto-related jobs, and 81 active cryptocurrency exchanges.

Hong Kong placed second, with 890 blockchain patents, 1,163 jobs in the sector, and 52 crypto exchanges, reflecting the city’s continued push in the digital asset space.

In 2024, Singapore doubled down on its regulatory momentum. The Monetary Authority of Singapore issued 13 major payment institution licenses to crypto exchanges, more than twice the number granted in 2023.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story