Crypto News
Solana (SOL) Surges 6% on Bullish Reversal and DeFi Activity Toward $180
The cryptocurrency market continues to respond to broader economic factors as Solana demonstrates resilience amid global trade uncertainties. SOL's price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance levels with institutional-grade volume suggesting accumulation despite a brief 1.35% correction in recent hours. Meanwhile, analysts point to the $166.82 level as a crucial short-term pivot, with potential for significant upward movement if SOL can maintain momentum above $177 resistance.Technical Analysis HighlightsSOL climbed from a low of $159.69 to a high of $173.03, representing a significant range of $13.34 (8.35%).Price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance at $166.87.Above-average volume was observed around the $167-$170 zone, indicating...
Dubai’s VARA Releases Version 2.0 of Virtual Asset Regulation Rulebook
The Virtual Assets Regulatory Authority (VARA) in Dubai has announced the release of Version 2.0 of its activity-based Rulebooks. The updated Rulebooks enhance supervisory mechanisms for various regulated virtual asset activities, including advisory services, broker-dealer services, custody services, and exchange services, among others. Key updates include strengthened controls on margin trading and token distribution, clearerSource link
AAVE Surges 24% in Explosive Rally, Breaking Key Resistance Levels
AAVE's explosive rally broke through multiple resistance levels with increasing trading volume, particularly during the late-night hours when it surpassed the $250 psychological barrier.The cryptocurrency has established support around $240 while consolidating above $263, suggesting potential for further upward movement as institutional interest grows amid broader market developments. This performance comes as Bitcoin approaches new all-time highs and public companies continue increasing their cryptocurrency holdings, with firms like Strategy Corp planning to raise $84 billion for Bitcoin purchases.Technical Analysis HighlightsClear uptrend formation with higher lows and higher highs, breaking through multiple resistance levels with increasing volume, according to CoinDesk Research's technical analysis data model.Explosive price action between 23:00-02:00, with volume peaking at 232,392 units as AAVE broke through the $250...
Jack Dorsey Fights Against Sats, Supports Controversial Changes for Bitcoin
Block co-founder Jack Dorsey has argued for making bitcoin transactions easier to follow and finalize, shedding the name of the smallest bitcoin unit, sats, and referring to them simply as bitcoin. This change, focused on retail, was proposed in BIP 177, presented by bitcoin proponent John Carvalho. Block’s Jack Dorsey Advocates for BIP 177, SheddingSource link
Bitcoin ETF Inflows Surge as Basis Trade Nears 9%, Signaling Renewed Demand
The U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) recorded $667.4 million in net inflows on May 19, the largest single-day total since May 2, signaling renewed institutional interest. Nearly half of these inflows, $306 million, went into iShares Bitcoin Trust (IBIT), now at $45.9 billion in net inflows, according to data source Farside Investors.The renewed demand follows bitcoin’s strong price performance, having traded above $100,000 for 11 consecutive days, which has helped restore market confidence. Additionally, the annualized basis trade, a strategy where investors go long on the spot ETF and simultaneously short bitcoin futures contracts on the CME, has become increasingly attractive, with yields approaching 9% almost double what was seen in April. According to Velo data, this...