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Over the past month, 87% of all revenue distributed to cryptocurrency holders in the DeFi sector was concentrated in just 10 protocols, according to an analysis by Unfolded citing data from DefiLlama. Hyperliquid (HYPE) ranked first, distributing $53.5 million (38.4%), followed by EdgeX (EDGEX) with $23.3 million (16.7%) and Pump.fun (PUMP) with $22.9 million (16.4%). These top three projects alone accounted for 71.5% of the total, highlighting significant market concentration. Unfolded noted that Hyperliquid maintains a sustainable revenue structure, as it distributed its entire revenue to crypto holders without any incentive spending.

The number of addresses holding over 100,000 LINK has reached an all-time high of 805, Santiment reported via X. The firm noted that 100,000 LINK is currently valued at approximately $958,000 and that the number of such wallets has increased by 8.2% over the past seven weeks.

South Korean crypto exchanges Bithumb and Coinone have announced the designation of Highstreet (HIGH) for their delisting watchlists. The exchanges stated the decision was made due to the project's failure to adequately disclose material information that could significantly impact the asset's value. Additionally, a comprehensive review of the project's business progress revealed numerous shortcomings.

Bitcoin (BTC) spot trading volume has plummeted 81% since October 2025, falling to levels last seen during the 2023 bear market, according to an analysis by on-chain analyst Darkfost on X. Darkfost noted that on Binance, volume for the same period dropped from $198.6 billion to $36.4 billion, a reduction of roughly four-fifths. Volumes on Gate.io and Bybit also fell by 79.6% and 66%, respectively. He explained that monthly spot volume has not been this low since July 2023. The analyst attributed the decline to an unfavorable macro environment for the crypto market, with rising inflationary pressures and a prolonged U.S.-Iran war leading investors to favor assets like commodities and stock indices. However, Darkfost added that the drop in volume could also indicate that selling pressure is gradually being exhausted in the current correction phase. He pointed out that the 2023 bear market also experienced a sharp decline in spot volume before volatility returned, marking the start of an upward trend.

Bitcoin is decoupling from the U.S. stock market and beginning to evolve into a hybrid asset, according to an analysis by CryptoQuant contributor XWIN Japan. The contributor noted that while BTC and the S&P 500 moved in the same direction from 2020 to 2022, Bitcoin has shown significant volatility since 2025, unlike the stock index. Based on net spot purchases and ETF fund flows, BTC is now reacting more strongly to liquidity cycles and institutional demand. "This suggests that BTC is evolving from a simple risk asset into a hybrid asset that is sensitive to macro liquidity while following its own unique market structure," XWIN Japan wrote. The contributor predicted that if the Fed's monetary policy easing coincides with a weaker U.S. dollar and a resumption of ETF inflows, BTC could emerge as an alternative asset that absorbs liquidity independently, rather than simply following tech stocks.

The total market capitalization of stablecoins has surpassed $322 billion, reaching a new all-time high, CoinDesk reported. This figure now exceeds the foreign exchange reserves of 95 countries worldwide. The outlet noted that the value of stablecoins held by users outside the traditional banking system is greater than the reserves of nations including developed countries like the UK and Canada, as well as the oil-producing United Arab Emirates. CoinDesk described this trend as an indicator of how rapidly capital is shifting to digital financial rails.

On-chain analyst ZachXBT has identified an entity connected to four BSC-based projects suspected of price manipulation on centralized exchanges (CEX), including Yuldo Games (ESPORTS), which crashed 94% overnight. He stated that this entity received vested ESPORTS, RIVER, and LIGHT tokens through a Sablier vesting contract and is also linked to three LAB multisig wallet signers. ZachXBT noted that he had previously raised suspicions about price manipulation involving LAB and RIVER. He added that it would be difficult to attribute the entity's position to mere luck, given that ESPORTS plummeted 93% in a sharp overnight drop, suggesting potential insider activity. Meanwhile, suspicions of a rug pull are spreading throughout the community following the ESPORTS crash.

SmarterWebCompany, a firm listed on the London Stock Exchange, announced it has purchased an additional 10 BTC. Its total holdings now stand at 2,869 BTC.

South Korean crypto exchange Upbit announced it will temporarily suspend deposits and withdrawals for assets on the Base network due to a network upgrade. The suspension is scheduled to begin at 11:00 a.m. UTC on May 28.

Two of seven CoinNess-affiliated chart masters forecast a decline in Bitcoin's price this week, while five predicted a rise. The highest price target is $84,000, and the lowest is $73,000. Note: Vote for the price direction and target that aligns with your view via the provided link. One hundred participants will be selected by lottery to receive a coffee coupon.

Mike Belshe, CEO of crypto custody firm BitGo, has stated that the core bull case for Bitcoin (BTC) is not potential interest rate cuts but the erosion of trust in fiat currency. Commenting on the appointment of Kevin Warsh as the new Federal Reserve (Fed) Chairman, Belshe noted on X that Warsh has long been a critic of quantitative easing (QE) and the Fed's excessive asset purchases. According to Belshe, if Warsh is sincere, the era of reflexively using monetary easing policies will end. He outlined two potential outcomes: if Chairman Warsh successfully restores trust in the U.S. dollar, it would be positive for the stability of the financial system. However, if he fails, it would serve as proof that the existing system is impossible to fix, which would be positive for BTC. Belshe concluded that hard money—assets whose supply cannot be easily increased by governments or central authorities—wins in either scenario.

A phishing attack impersonating Uniswap (UNI) through Google search ads has resulted in at least $400,000 in damages, Cointelegraph reported. Stacy Moore, founder of the Web3 marketing firm Green Dots, noted that a sponsored ad designed to look like the official Uniswap website was appearing at the top of Google search results. She criticized Google for neglecting the issue for years, which has allowed fake links to appear above the actual site and led to ongoing user losses.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.93% long, 50.07% short - Binance: 50.31% long, 49.69% short - OKX: 50.72% long, 49.28% short - Bybit: 48.97% long, 51.03% short

The South African government and central bank are working to clarify cryptocurrency regulations, local media outlet IOL reported. In a statement on an update to the draft Capital Flow Management Regulations, the Treasury and the central bank announced an extension of the public comment period to June 30, 2026. The statement explained that the regulation is not intended to criminalize cryptocurrency holdings or be applied retroactively. Additionally, a draft manual for a cross-border crypto transaction framework will be released for public comment. The manual is expected to include definitions for cross-border crypto transactions and the obligations of officially authorized crypto service providers.

Italian energy company Alps Blockchain, in partnership with Bolivian firm Kuruvika, has launched a Bitcoin mining operation at a decommissioned 127-megawatt (MW) natural gas power plant in Cochabamba, Bolivia, Beets reported. The mining facility currently uses approximately 27 megawatts of power and has a hashrate of 1.23 EH/s. The company plans to expand its power consumption to 45 megawatts by the end of the year.

Abu Dhabi-based global investment firm International Holding Company (IHC) has executed a $30 million transaction using a stablecoin pegged to the UAE Dirham, Bitcoin.com reported. This marks the first major institutional transaction for the stablecoin since it received regulatory approval. The deal was conducted with the DDSC stablecoin on the ADI Chain, an institutional Layer 2 blockchain developed by the ADI Foundation.

XRP is facing renewed downward pressure after failing to break through the $1.36 resistance level, according to an analysis by CoinDesk. The report noted that after its recent failure to overcome this resistance, XRP is being pushed toward the key support level of $1.30. Repeated tests of this support could signal weakening buying pressure, and the $1.30 zone is now seen as a critical price point for gauging the potential for further declines. Technically, XRP is trading below its major moving averages, reinforcing the short-term bearish trend. However, CoinDesk explained that as long as the token maintains the key support at $1.30, the current trend can be viewed as a short-term bearish phase.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks trading volume at specific price levels. The background color brightens when the price lingers in a range or moves significantly, with these brighter areas potentially acting 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 between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Onchain Lens reported that an anonymous trader, Evaded (@ICanPlug), has opened a 40x leveraged short position on Hyperliquid involving 525.3 BTC, valued at $40.26 million. The position's entry price is $76,474, with a liquidation price of $77,417. The same trader also opened a 5x leveraged long position on 53,500 ZEC ($33.30 million) two days ago.

Stable (STABLE), a Layer 1 blockchain focused on the world's largest stablecoin USDT, launched a treasury management service called StableEarn today, Tech in Asia reported. The first vault is built on the decentralized lending protocol Morpho, with DeFi risk management project Gauntlet managing its asset allocation and risk parameters. The vault's strategy utilizes products from real-world asset tokenization platform Theo, including the U.S. Treasury bill token thBILL, the gold-backed yield-bearing token thGOLD, and the gold derivative-based stablecoin thUSD. The service is available to neobanks, fintech firms, payment providers, and individuals.

Hyperliquid has launched support for prediction markets based on off-chain events, Wu Blockchain reported. These markets are created through automated news feed software operated by Hyperliquid validators. The validators will vote to determine the official deployment and settlement of these markets based on criteria including rule transparency, market outcome accuracy, and overall market quality.

DeFi yield protocol Pendle (PENDLE) announced on X that it has launched a pool for Apyx's synthetic dollar, apxUSD, on BNB Chain. The synthetic dollar is backed by preferred shares in Strive (SATA) and Strategy (STRC) and matures in November 2026. The apxUSD is split into Principal Tokens (PT) and Yield Tokens (YT) for trading. Purchasing the PT allows users to secure a fixed yield that currently exceeds the 13% annual dividend rate on STRC, while the YT offers leveraged exposure to Apyx Season 2 points.

U.S.-based crypto exchange Kraken has unlocked 50,656 ETH, worth $107.62 million, from the Ethereum restaking platform EigenCloud, formerly known as EigenLayer. On-chain analyst EmberCN noted that Kraken unstaked the funds approximately 11 hours ago, commenting that the restaking bubble has burst too quickly. The analyst explained that while the total value locked (TVL) in restaking protocols was $31 billion last August, it has now decreased to around $11 billion. Specifically, the TVL in EigenCloud, once the leader in the restaking sector, has plummeted from $22 billion to $5.5 billion.

Yen stablecoin issuer JPYC has announced the launch of Japan's first service for swapping credit card points into stablecoins, set to go live on June 1. Developed in collaboration with Mitsui Sumitomo Trust Club and HashPort, the service will allow holders of Diners Club and TRUST CLUB cards to exchange their reward points for JPYC. The swaps will be conducted through HashPort's non-custodial wallet.

Binance has announced its support for the Sei (SEI) network's migration to SEIEVM. In line with this, deposits and withdrawals of tokens on the existing SEI network will be suspended starting at 8:00 a.m. UTC on June 1.