Indian Rupee: RBI signal slows depreciation – OCBC

OCBC highlights that USD/INR has pulled back from record highs as reports suggest the RBI is exploring tools to steady the Rupee, including possible rate hikes and FX operations. The bank views the move as a circuit breaker rather than a trend change, with higher Oil, elevated UST yields and portfolio outflow risks still weighing on INR near term.  Rupee needs friendlier external backdrop  “INR recovered from record lows after reports that the RBI may be looking at options to steady the currency, including a possible rate hike, FX swaps and other dollar-liquidity measures. Reported dollar-selling by state-run banks also helped pull USD/INR back to low of 96 levels from near the 97-handle.”  “The snapback is a useful ”circuit breaker“after the recent slide, but further INR recovery still requires the external backdrop to improve. Higher oil prices, elevated UST yields and portfolio outflow risks remain INR headwinds. In the interim, the RBIs signal is useful in slowing one-way depreciation but is unlikely to fully change the direction on its own.”  “Bullish momentum on daily chart shows tentative signs of fading while RSI fell from overbought conditions. Slight risk to the downside. Support at 95.20 (21 DMA), 93.90 (50 DMA). Resistance at 97 levels.”

05-22Industry

Solana whales add $9.7M in SOL – Can bulls now push past $87?

As Solana attempted recovery on the 21st of May, crypto whales added millions worth of SOL to their holdings.  The accumulation aligned with SOLs breakout from a tight consolidation range, opening the possibility for further upside. At press time, SOL traded near $86.30 after gaining 1.85% over the past 24 hours.  Meanwhile, Trading Volume jumped 38% to $43.66 billion, reflecting stronger participation from traders and investors.  Why are whales buying SOL?  Onchain Lens reported that two newly created wallet addresses received large SOL transfers over the past 24 hours.  Wallet “8qBMv” received 88,004 SOL worth $7.56 million from FalconX. Meanwhile, wallet “ECgwn” received 24,500 SOL worth $2.11 million from Binance.  The data showed one whale moved assets into a wallet while another transferred SOL for staking. Those moves suggested whales continued positioning for longer-term upside.  However, Nansen data indicated broader whale interest beyond those two addresses.  The platform reported that the top 100 wallets increased their SOL holdings by 59.95% over the past day. That increase reflected stronger confidence among large holders and supported bullish market sentiment.  Source: NansenAre derivatives traders turning bullish?  Derivatives metrics also leaned slightly bullish at press time.  CoinGlass data showed Solanas Funding Rates flipped positive and climbed to 0.0073%.  Historically, SOL often rallied after Funding Rates shifted

05-22Industry

Crypto Market Eyes $2.60T as NEAR Jumps 21%, SpaceX Confirms 18,712 BTC Treasury

Blind signing — the practice of approving DeFi transactions without seeing readable instructions — has been linked to billions in user losses, and a new wallet integration is targeting the gap directly. ERA Wallet has introduced ERA Lens, an on-device parsing engine that converts raw calldata into plain-language summaries before any signature is authorized. The launch follows the Ethereum Foundations May 12 announcement of Clear Signing, an open standard for human-readable transaction approvals. Security analyses of the Bybit exploit showed how a routine-looking approval can quietly redirect wallet control, making readable transactions a structural defense rather than a cold wallet UX enhancement.  The total crypto market capitalization climbed 0.19% on May 22 to $2.57 trillion, adding $4.93 billion as the index pressed toward the $2.60 trillion decision zone. Bitcoin changed hands near $77,699, while broader risk appetite spilled over from NVIDIAs blowout earnings earlier in the week that lifted AI-adjacent and digital asset names together. A daily close above $2.60 trillion would mirror the May 4 breakout that carried the index to $2.72 trillion within days. The $2.47 trillion support has held firm since April 19, defining the lower bound of the current trading range as traders watch for resolution.  NEAR Protocol

05-22Industry

Ripple price today Analysis: 24h Bias Bearish, Key Levels

XRP/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.Main bias and market logic  Meanwhile, price is pinned near the daily pivot in a cautious, cash-heavy market. With Bitcoin dominance around 58% and a Fear mean reversion dominates until a clean push through $1.38–$1.39 or a slip below $1.36.  Additionally, micros are flat around $1.37 with a very tight realized range. Expect liquidity sweeps around $1.36–$1.38; the first break after this compression tends to run stops.  Indicator evidence (D1 unless noted)  RSI (14): 42.83  Overall mildly bearish and below the midline, signaling sellers have the edge but no exhaustion extremes; there is room for continuation or a bounce.  MACD: line -0.01, signal 0, histogram -0.01  Similarly, momentum is flat to negative; pressure tilts down, but no strong impulse is present. The next directional push can develop quickly from here.  EMAs: 20D = 1.40, 50D = 1.41, 200D = 1.73; price = 1.37  Price sits below all trend filters, with the 20 under the 50, a classic bearish structure that favors selling strength into 1.40–1.41.  Bollinger Bands: mid 1.41, upper 1.48, lower 1.34  As a result, trading in the lower half near the mid-to-lower corridor keeps risk skewed; a break outside 1.34/1.41 can travel.  ATR (14): 0.05  Consequently, daily movement is roughly 3–4%; volatility is

05-22Industry

Euro weakens against British Pound ahead of Germany IFO Business Survey

EUR/GBP extends its winning streak for the fifth consecutive day, trading around 0.8650 during the Asian hours on Friday. The currency cross remains subdued as the Euro (EUR) struggles ahead of upcoming German economic indicators, including the June GfK Consumer Confidence Survey, Q1 GDP figures, and the IFO Business Survey, due later in the day.  The Euro faced significant challenges as traders reacted to a surprising contraction in the Eurozone economy. According to the latest S&P Global flash Purchasing Managers Index (PMI) data released on Thursday, the Euro Area economy shrank in May at its fastest pace since late 2023. This downturn was primarily driven by a conflict-fueled surge in living costs that stifled service demand and pushed input price inflation to a three-year high.  The downside of the EUR/GBP cross is retrained as the British Pound (GBP) inches lower following the GfK Consumer Confidence Index release, which edged up to -23 in May 2026 from -25 in the previous month, which had marked the lowest reading since October 2023 amid persistent worries about the Iran war. The result defied market estimates of -28, suggesting that households were slightly less pessimistic about the outlook. GfK consumer insights director Neil Bellamy cautioned that

05-22Industry

Ethereum price risks drop to $1,800 as ascending channel breaks

Ethereum price has broken down from an ascending parallel channel pattern on the daily chart — May 21   Momentum indicators are also deteriorating. The MACD histogram has flipped negative while the MACD line continues crossing below the signal line, confirming growing bearish momentum on the daily timeframe. Previous bearish crossovers on the same chart structure earlier this year preceded extended downside moves.  The immediate support zone now sits near $2,080. Failure to hold this area could expose Ethereum to a rapid move toward the $1,800 region, which aligns with previous consolidation support formed during March and April.  Some technical traders have also warned that Ethereum is now trading below several major exponential moving averages, strengthening the probability of further downside continuation. A confirmed daily close below the channel support could invalidate the entire April recovery structure.  Derivatives positioning adds another layer of risk. CoinGlass liquidation data shows a dense concentration of leveraged long positions sitting between $2,040 and $2,000. If Ethereum breaks decisively below that zone, forced liquidations could amplify downside volatility.  According to CoinGlass estimates, more than $1.70 billion worth of leveraged long positions could face liquidation pressure if ETH falls below approximately $2,044. Such liquidation cascades often trigger rapid flash crashes as

05-22Ethereum

California Governor Acts on AI Workforce Disruption as Silicon Valley Sheds 114,000 Jobs

California Governor Gavin Newsom signed a “first-in-the-nation executive order” on Thursday to tackle artificial intelligence (AI) workforce disruption.   The order directs California to prepare workers, small businesses, and communities for economic impact from AI.  What the California Governors Order Covers  The order convenes a broad group of universities, economists, labor specialists, state agencies, and industry executives. They will draft new policies and track signals of where AI is cutting jobs.  The goal is to help California workers, not just tech firms, share in AIs productivity gains. The policy menu includes new severance rules, employment insurance, and transition payments for displaced workers.  Other ideas under study include worker-owned company structures, universal basic capital programs, and broader job training. The order also seeks better hiring and payroll data so the state can spot layoff trends sooner.  “California has never sat back and watched as the future happened to us… Today is just the first step as we rewrite policy and direction, creating a future of work that works for all,” Newsom said.  I just signed a first-of-its-kind executive order to empower workers impacted by AI.  California will pursue new policies that make sure working Californians — not just Big Tech — benefit from the wealth and breakthroughs coming out

05-22Industry

Ethereum Foundation Faces Heat After Feist’s $1B Proposal

Dankrad Feist proposed creating a new Ethereum-focused organization with at least $1 billion in funding.He said the new group should be economically aligned with Ethereum and accountable to the community.Feist argued that the organization should have competent leadership and a board with stronger oversight.He said the group should also have a mandate to help support ETHs value.The proposal added fresh pressure on the Ethereum Foundation on Thursday.  Pressure on the Ethereum Foundation rose on Thursday after former core developer Dankrad Feist proposed a new Ethereum-focused organization. Feist said the group should raise at least $1 billion and operate with leadership accountable to the Ethereum community. His proposal added to concerns about governance, staffing exits, and Ethereums market performance.  Ethereum Foundation Draws New Criticism After Feist Proposal  Feist outlined the idea in a post on X and framed it as a way to “save” Ethereum. He said the community needs an organization “economically aligned with Ethereum and accountable to it.”  He proposed a board with stronger accountability and a clear mandate to support ETH. He also said the group should aim to help Ethereums price rise.  Feist said the organization should have at least $1 billion in funding. He added that staking revenue could help support

05-22Ethereum

Variational predicts RWA perpetuals will soon be the biggest contract class in DeFi

Variational, a peer-to-peer onchain derivatives trading protocol, said it raised $50 million in a round led by global investment fund Dragonfy with participation from companies including Bain Capital Crypto and Coinbase Ventures.  The money will be used to expand the Cayman Islands-based companys derivatives trading services, it said in a statement released Thursday. The raise comes just as Variational introduces perpetual futures tied to real-world assets (RWAs) such as gold, silver, copper and West Texas Intermediate (WTI) crude oil.  “We believe RWA perpetuals will soon be the biggest contract class in decentralized finance (DeFi), bigger than bitcoin and ether combined,” Lucas V. Schuermann, CEO and co-founder at Variational, told CoinDesk.  Bitcoin , the largest cryptocurrency, has a market capitalization of $1.6 trillion. Ether (ETH), the second-biggest, has $256 billion. Combined, they account for almost 68% of the total cryptocurrency market cap.  Variational said it has carried more than $200 billion in trading volume since its inception in 2025, and the new funds will enable it to build the infrastructure needed to route liquidity directly from traditional markets within the coming months. Its model is uniquely designed to aggregate and route liquidity from traditional and onchain markets, avoiding the need to build it from scratch

05-22Industry

Chainlink Continues Leading The Oracle Economy With SVR Expansion — What To Know

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.  My parents are literally the backbone of my story. They‘ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.  I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.  When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.  Trust me, I‘ve had my share of experience with the ups and downs in the market but I never for once lost

05-22Industry
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