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QCP Capital has identified the U.S.-China summit and U.S. inflation data as key market variables this week, forecasting that BTC will likely continue to trade in a range below resistance near $84,000 for the time being. The firm noted that BTC holding the $80,000 level despite recent spot ETF outflows is a positive sign. QCP Capital explained that if this week's CPI and PPI data show signs of stabilizing inflation, it could create a favorable environment for the crypto market. The firm also added that the U.S. Senate Banking Committee is scheduled to review the Clarity Act, and progress in those discussions could affect ETF and institutional fund flows.

Circle (CRCL) announced first-quarter revenue of $694 million, falling short of the market consensus of $721 million. Despite the revenue miss, the company reported accelerating network growth, with USDC circulation rising to $77 billion and on-chain transaction volume increasing by 263% year-over-year. Net income for the quarter was $55 million, a 15% decrease from the previous year, while adjusted EBITDA stood at $151 million.

Circle (CRCL) has raised $222 million in a private sale for the native token of its Layer 1 chain, Arc, valuing the project at a fully diluted valuation (FDV) of $3 billion, CNBC reported. The round was led by a16z with a $75 million investment. Other participants included over 10 institutions, such as BlackRock, Apollo Fund, New York Stock Exchange parent company Intercontinental Exchange (ICE), SBI Group, General Catalyst, and Ark Invest. Arc aims to provide infrastructure to support institutional finance functions and an AI agent-based economy. With this move, Circle plans to expand from being a stablecoin issuer to a company with its own network and token.

Augustus, an AI- and stablecoin-based fintech firm, has secured a federal banking charter from the U.S. Office of the Comptroller of the Currency (OCC), Fortune Crypto reported. The company, which aims to improve cross-border payment efficiency by replacing traditional intermediary banking systems with code, has previously attracted significant investment from prominent backers, including Peter Thiel. Augustus plans to target the U.S. market by hiring a number of influential figures from the traditional finance industry to its executive team.

Approximately 7.904 million TRUMP, valued at $19.29 million, has been deposited to OKX following a team token unlock. On-chain data shows that about five hours ago, 7.001 million TRUMP was unlocked from the Trump meme (GetTrumpMemes) team wallet and transferred to BitGo. These funds were subsequently moved through a custody address and fully deposited to OKX about an hour ago.

The Spot Cumulative Volume Delta (CVD) chart analyzes the order book for the BTC/USDT spot pair. The upper section displays a Volume Heatmap, while the lower section shows the CVD. - The Volume Heatmap tracks trading volume at specific price levels. The background brightens in areas where the price remains for an extended period or experiences significant movement. These brighter zones can potentially act as support or resistance. - The CVD indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line indicates orders from $100 to $1,000, while the brown line represents large-scale orders from $1 million to $10 million.

Tether (USDT) has expanded into the artificial intelligence sector with the launch of 'QVAC,' a decentralized, local AI platform. The company described QVAC as an "AI infrastructure that operates without reliance on centralized cloud services." QVAC is designed to allow users to run AI models directly on their devices and supports Linux, Windows, Mac, Android, and iOS. It also reportedly includes peer-to-peer inference capabilities. Tether stated that just as money should move without permission, users should have direct control over their data and AI, highlighting the platform's enhanced privacy, offline usability, and censorship resistance compared to server-based AI. The company also unveiled QVAC's first model, a healthcare-specialized AI named 'MedPsy.' Tether claimed that despite being a small, local model, MedPsy has recorded competitive performance against larger models on some medical benchmarks.

The Ethereum Foundation (EF) has unstaked 21,271 ETH, worth $49.66 million, according to Onchain Lens. The foundation currently holds 103,731 ETH, valued at $242.16 million.

Net inflows into XRP-based investment products surged by approximately 1220% over the past seven days, rising from $3 million in the previous week to $39.6 million, according to data from CoinShares. James Butterfill, an analyst at the firm, attributed the sharp increase to institutional investor reaction to progress on discussions surrounding the CLARITY Act in the U.S. He noted that recent advancements in stablecoin and cryptocurrency regulation bills within the U.S. Senate have heightened expectations for regulatory clarity for altcoins, driving the expansion of institutional capital. Geographically, U.S. investors accounted for roughly 86% of the total net inflows, contributing $34.21 million, while other regions, including Germany and Switzerland, saw inflows of about $5.39 million.

Google Cloud's data warehouse, BigQuery, now supports on-chain data analysis for the ZeroG (0G) chain, Chief Technology Officer Ming Wu announced on X.

A whale investor who previously made a profit of approximately $2.27 million in a single day from trading APE has now opened a 5x leveraged long position on 8.69 million LDO, valued at $3.72 million, Lookonchain reported. However, the same investor previously recorded a loss of about $194,000 on a prior LDO long position.

USDAI (CHIP) has bought back 338,806,273 CHIP, representing 3.39% of the total supply, the project announced on its official X account. The cumulative buyback volume now stands at 3.71% of the total supply.

Whale addresses that have opened short positions of over $1 million on SK Hynix (SKHYNIX) on the decentralized exchange Hyperliquid are all facing unrealized losses, Hyperinsight reported. The address with the largest loss opened a 4x short position worth $4.36 million on Feb. 20 at an average entry price of $816 and is currently down $1.58 million, a 119% loss. Hyperinsight explained that despite SK Hynix's stock price repeatedly setting new all-time highs, short sellers continue to enter the market. The average entry price for recently active whales is around $1,250. However, as the price continues to rise, these investors are at risk of forced liquidation, the firm added. SK Hynix is currently trading at $1,282.85 on Hyperliquid. For comparison, SK Hynix shares closed at 1.88 million won (approx. $1,372) on the South Korean stock market on May 11.

Blockchain security firm SlowMist has identified a phishing campaign targeting Tron (TRX) users by impersonating the TronLink wallet. According to the firm, attackers created a malicious Chrome extension with a name similar to the official wallet to deceive users. The extension reportedly used fake download counts and reviews to appear trustworthy and was designed to send user-entered seed phrases, private keys, and wallet passwords to the attackers via a Telegram bot. SlowMist advised users to delete any extensions from unverified sources and clear their browser data. The firm added that anyone whose wallet information may have been compromised should create a new wallet and transfer their assets.

The overheating in ETH leverage has subsided, a process that on-chain analyst Darkfost describes as market stabilization. In a contribution to CryptoQuant, he explained that ETH has been trading sideways in a range of $2,250 to $2,450 for nearly a month, following an approximately 33% rally from its low in February. During that rally, ETH open interest (OI) increased by about $4.5 billion, and the leverage ratio on Binance climbed to 0.76 on March 16, indicating an over-leveraged market. However, the funding rate remained mostly negative during this period, suggesting traders were primarily focused on short positions. The situation has now changed. As ETH retested the $2,450 resistance level, the leverage ratio on Binance fell to 0.57. This shift followed a recent turn to a positive funding rate, which coincided with an increase in long positions. The market interprets this as a rapid clearing of long positions that were opened in anticipation of a breakout, which occurred during the ETH correction. At the same time, accumulated short positions were liquidated, leading to a decrease in overall leverage. Darkfost assesses this not as a short-term bearish signal but as a sign that market overheating is easing. He noted, however, that a genuine upward breakout will depend on an influx of spot buying pressure rather than activity in the derivatives market.

According to data from CoinGecko, spot trading volume on major centralized exchanges (CEXs) fell 9.96% month-over-month in April. Perpetual futures trading volume also declined by 13.61%. The data also showed that website traffic to major CEXs decreased by 14.61% from the previous month, and app downloads fell by 1.85%.

South Korean crypto exchange Upbit has announced that it will temporarily suspend deposits and withdrawals for Enjin Coin (ENJ) starting at 11:00 a.m. UTC on May 18. The suspension is due to a network upgrade.

South Korea's National Tax Service (NTS) has begun building a dedicated IT system to track and analyze virtual asset transactions, Aju Business Daily reported. The Seoul Regional Tax Office's Information Center and Nanal SMI recently held a ceremony to officially launch the project group for the system's construction. In addition to collecting data, the system will be designed to analyze and verify transaction flows suspected of tax evasion, such as money laundering and undeclared inheritances or gifts. It will also use AI machine learning and statistical methods to proactively detect unusual transaction patterns and users.

According to data from CoinGlass, a drop in BTC's price to $79,956 would trigger the liquidation of long positions worth $616.30 million on major centralized exchanges. Conversely, a rally to $83,110 would lead to the liquidation of short positions valued at $847.46 million.

Woori Bank has become the first major South Korean bank to enter the market for cryptocurrency-based airline ticket payments, The Korea Economic Daily reported. Under the new system, when an airline accepts payments in cryptocurrencies like Bitcoin, Woori Bank will manage the settlement process. According to sources in the airline industry, this model, where the bank's Woori Safe Settlement service handles the reconciliation between payment and ticketing, enables the sale of tickets at highly competitive prices.

Digital asset investment products saw a net inflow of $857.9 million last week, marking the sixth consecutive week of inflows, CoinShares reported in its weekly fund flow report. This brought the total assets under management (AUM) for these products to $160 billion. Bitcoin products led the inflows with $706.1 million, followed by Ethereum at $77.1 million, Solana at $47.6 million, and XRP at $39.6 million. Conversely, short Bitcoin products, which bet on a price decline, experienced a net outflow of $14.4 million, the largest this year. CoinShares attributed the improved market sentiment to the potential passage of the U.S. CLARITY Act.

Blockaid reported that Ink Finance's Polygon-based Workspace Treasury Proxy was hacked, resulting in an estimated loss of $140,000.

Chainlink (LINK) has emerged as an industry winner following the hack of KelpDAO's rsETH, according to an analysis by CryptoSlate. The report notes that after the incident, more than $3 billion in DeFi assets migrated to Chainlink's Cross-Chain Interoperability Protocol (CCIP) as their new standard for bridge infrastructure, which was followed by a rise in the price of LINK. In contrast, LayerZero (ZRO), the cross-chain bridge exploited by the hacker, has admitted to and apologized for its lax security oversight. The outlet explained that the industry is now questioning whether LayerZero can recover the trust it has lost.

Capital B, a European publicly traded company that is strategically accumulating Bitcoin, has secured a €15.2 million ($17.8 million) investment, The Block reported. The funding round included participation from Blockstream CEO Adam Back, and the company plans to use the capital to purchase an additional 182 BTC.

Moomoo US, a subsidiary of Futu, often described as the Chinese version of Robinhood, announced it has received approval from U.S. authorities to operate a prediction market.