Latest Crypto News & Market Updates

Kalshi Sues Minnesota to Block First US Felony Ban on Prediction Markets

Prediction market platform Kalshi has filed a federal lawsuit to block a first-in-the-nation Minnesota law that would make operating or advertising prediction markets a felony, escalating a nationwide fight over who regulates the fast-growing sector.　　Key Takeaways:Kalshi sued the state of Minnesota on May 28 to block SF4760, a felony ban set to take effect August 1, 2026.The CFTC filed its own suit against Minnesota within 24 hours of the bills May 18 signing.More than a dozen states have moved against Kalshi; the case could decide who regulates the sector.　　Minnesotas First-in-Nation Felony Ban　　Kalshi, a federally regulated prediction market where users trade contracts on the outcome of real-world events, asked a federal court to strike down Minnesotas SF4760, a law it says would criminalize its business in the state. Governor Tim Walz signed the measure on May 18, and it is set to take effect on August 1, 2026, making Minnesota the first U.S. state to treat the operation and advertising of prediction markets as a felony.　　The lawsuit, filed on May 28, argues the ban cannot stand because prediction markets are not gambling products but federally regulated derivatives. Kalshi contends that Minnesota is attempting to outlaw an activity that Congress placed under

05-31Exchange

Senator Lummis says China will 'write the rules' of the new financial era if CLARITY fails

The United States will lose its leadership position in crypto to other countries, including China, if US lawmakers fail to pass the Digital Asset Market Clarity Act (CLARITY), a crypto market structure bill, according to Wyoming Senator Cynthia Lummis.　　Passing a comprehensive crypto regulatory framework would “ensure” that other countries “do not write the rules of the next financial era,” Lummis said. She added in a separate X post:　　“America built the dollar-dominated financial system that has anchored global stability for a century. The Clarity Act ensures we build the next one. The time to act is now, before Beijing decides it will.”　　In May, the Senate Banking Committee voted to advance the CLARITY Act after the legislation had stalled for months, reviving crypto industry hopes that the bill might be codified into law in 2026.　　Source: Senator Cynthia Lummis　　The crypto market structure bill is one of the most significant pieces of crypto regulations in the US, but it is unclear if it will be signed into law in 2026 due to opposition from the banking lobby and the looming US midterm elections.　　Related: ‘We are so close this time’ — Senator Lummis on market structure bill　　JPMorgan CEO says banks will oppose CLARITY, as the

05-31Exchange

Monero Jumps on $23 Million Mystery Buy as Zcash Rally Cools

Zcash ($ZEC) fell by over 6% in the past 24 hours to $520.05 as traders booked profits on a multi-month rally. Meanwhile, Monero ($XMR) climbed 11% to $396.75 after an unexplained $23 million on-chain purchase.　　The divergence has reopened a long-running debate over which privacy coin offers the stronger product.　　Zcash ($ZEC) and Monero ($XMR) Price Performance. Source: TradingView　　Capital appears to be rotating from $ZEC‘s institutional narrative back toward $XMR’s default-privacy design.　　Zcash Cools After 56% Monthly Surge　　$ZEC trades near $520 after touching highs above $640 earlier in May, a level it last visited in 2017. The token is still up almost 57% over the past 30 days and more than 900% year-on-year.　　Zcash ($ZEC) Price Performance. Source: BeInCrypto　　The recent climb followed:A January decision by the U.S. Securities and Exchange Commission to close its probe into the Zcash Foundation without enforcement action,A May position disclosure by Multicoin Capital, andGrayscales filing to convert its Zcash Trust into a spot ETF.　　The Grayscale spot ETF filing added an institutional layer to the rally.　　Roughly 30% of total $ZEC supply now sits inside the networks shielded pools, tightening effective float.　　The current pullback brings the token back toward its 200-day moving average near $500, a level flagged as a key

05-31Exchange

SKY whale moves 137 mln tokens: Is a sell-off coming as price struggles near $0.060？

With the $SKY market remaining relatively calm, long-term holders have begun to reposition. According to Arkham data, an address linked to dragonfly_xyz transferred 137 million $SKY, worth $9.05 million, to Coinbase.　　These tokens were purchased from Binance five years ago, valued at approximately $20.45 million.　　Source: Arkham　　Since then, $SKY has faced extreme downward pressure. Now, these tokens have lost over $11.4 million in value.　　The token transfer to exchanges could either mean preparation to sell or liquidity exposure. If sold, the sale would result not only in $11 million in losses for the holder but also cause significant market pressure on $SKY.　　$SKY remains highly bearish　　In addition to this major market transfer, most of the $SKY market participants remain skeptical. On Binance, for example, sellers have dominated the market over the past month.　　Source: Coinalyze　　According to Coinalyze data, $SKY recorded 579 million in sell volume over the past week, while buy volume dropped to 545 million.　　Over this period, the Buy Sell Delta dropped to -31 million, a clear sign of aggressive perps selling. On the spot side, the altcoin saw 42 million in sell volume, further confirming this market skepticism.　　Traditionally, when sellers dominate the market, market structure weakens, and more price chart losses follow.　　Source: CoinalyzeWhats

05-31Exchange

AI predicts Ethereum price for June 1, 2026

The AI-based Ethereum forecast from OpenAIs ChatGPT suggests ETH could stage a modest recovery if broader market conditions remain stable and Bitcoin avoids another sharp correction. Under the ETH price prediction, Ethereum is expected to rebound toward the $2,140 region by June 1.　　The Ethereum forecast is based on technical indicators, market momentum, and macroeconomic conditions.　　Current indicators show mixed sentiment, with neutral-to-bearish RSI readings and cooling trading volumes signaling weaker buying pressure. However, institutional interest remains relatively steady, with some large investors continuing to accumulate ETH during market dips.　　Ethereum still faces key resistance before a stronger bullish trend can emerge. The AI model identified the $2,300 to $2,500 range as a critical zone buyers must reclaim to confirm renewed upward momentum.　　Key Ethereum price levels to watch　　At the same time, the latest ETH weekly chart analysis shared by crypto analyst Ali Martinez on X on May 29 points to growing downside risks if Ethereum loses critical support levels.　　According to the technical setup, a weekly close below $1,850 could trigger downside acceleration and confirm a broader bearish breakdown for ETH.　　The chart structure identified $1,560 as the first major downside target, marking interim structural support within Ethereums broader range. If bearish momentum intensifies, ETH

05-31Ethereum

Bitcoin vs Stablecoin Dominance: Why Traders Park in Dollars

Which Stablecoin for Which Job？　　Not all dollar tokens are alike. Your choice should match your use case: fast trading on exchanges, on-chain liquidity for DeFi, or more conservative exposure to a specific issuer. Before allocating, understand how the peg is maintained, what backs the token, and how redemptions work.FeatureUSDT (Tether)USDC (Circle)DAI (MakerDAO)PYUSD (PayPal/Paxos)Issuer dollar-linked via reserves and redemptions.Centralized issuer; dollar-linked via reserves and redemptions.Crypto-collateralized stablecoin governed by MakerDAO; peg via overcollateralization and policy tools.Centralized issuer (Paxos) in partnership with PayPal; dollar-linked via reserves and redemptions.Ecosystem PenetrationExtensive CEX listings and broad chain support; deep trading pairs.Strong integration with compliant venues and DeFi; widely used on major chains.Common across DeFi; composable with on-chain protocols.Growing support; focused on payments and select exchanges.Transparency PracticesAttestations from third parties; issuer disclosures on reserves.Regular attestations; detailed reserve reporting by the issuer.On-chain collateral transparency; governance decisions affect composition.Issuer reports and disclosures; regulated trust company involvement.Censorship collateral includes centralized assets in varying degrees over time.Issuer can freeze addresses under policy/legal requests.Depeg ConsiderationsMarket prices can deviate during stress or liquidity events; peg typically restored via arbitrage and flows.Prices can temporarily deviate, including during broader banking or liquidity stresses; arbitrage helps restore peg.Peg stability influenced by collateral mix and policy; can

05-31Industry

AVAX Price Prediction: $9.25 Breakout or $8.60 Breakdown Within 48 Hours

AVAX has been grinding sideways in a tight $8.75-$9.07 range over the past 24 hours, but pressure is building beneath the surface. The token trades dangerously close to its lower Bollinger Band at $8.67, suggesting either a capitulation selloff or a classic oversold bounce setup. With institutional CME futures adding legitimacy to the ecosystem, AVAX is positioned for a volatility explosion that could define its next major leg.　　The broader crypto markets sideways action has created a coiled spring effect in mid-tier L1s like Avalanche. Trading at $8.96 against a 200-day moving average of $10.97, AVAX has clearly been in distribution mode, but this consolidation could represent accumulation by smart money or preparation for further downside. Blockchain.news market analysis shows similar setups in L1 tokens typically resolve within 48-72 hours with significant directional moves.　　Technical Picture Shows Indecision Ready to Break　　The charts scream indecision with a bearish lean that‘s about to resolve. AVAX’s RSI sitting at 41.25 shows momentum has cooled from oversold levels without generating meaningful buying pressure, while the MACD histogram flatlining at essentially zero reveals complete absence of directional conviction among algorithmic traders.　　Hourly candlesticks (about 96 bars), same endpoint as our cryptocurrency price pages. Numbers below refresh from 1-minute

05-31Industry

Hyperliquid vs Ethereum: Did Tom Lee Pick the Wrong Crypto Treasury Asset for BitMine?

Tom Lees BitMine bought 5.4 million Ethereum (ETH) instead of Hyperliquid (HYPE), and now faces a binary verdict. The Ethereum holding is down 21% since June 30, 2025. HYPE is up 68% over the same window.　　The question is whether Tom Lee built the institutional position he intended to create. Or whether he picked the wrong asset for a cycle that already rewarded perpetual exchange tokens.　　ETH vs HYPE weekly performance since June 30, 2025. ETH down 21.45%, HYPE up 67.82%. Source: TradingView　　Both readings stay defensible until ETH either reflates or rolls over.　　The Conviction Case　　BitMine launched its Ethereum treasury strategy on June 30, 2025, with a $250 million private placement.　　Tom Lee, head of Fundstrat, joined as chairman. The mandate was never to chase the hottest token in the cycle. It targets roughly 5% of the ether supply (through alchemy) as a public proxy for institutional ETH.　　That thesis rests on three pillars:Ethers staking yield turns the treasury into an income asset rather than a static bet.　　Around 87% of the holding sits on BitMines MAVAN staking platform, generating about $276 million in annualized revenue.Liquidity matters at this scale.　　BitMine has absorbed $8 billion in losses without dislocating ETHs order books.　　“Tom Lee is down eight billion

05-31Ethereum

XRP News: XRPL Eyes Major Upgrade Proposals On Escrows, Privacy Transfers

For this, it will use a WebAssembly (WASM) execution layer. The proposal calls the feature “a minimal, programmable code block attached to an Escrow object,” which decides if funds are released.　　Also, the proposed model on XRP Ledger may be suitable for a variety of other applications. It could help in milestone-based payments, token vesting, NFT-related settlements, treasury management, token swaps, and compliance related holding periods.　　For context, the traditional smart contract aims to maximize flexibility and allow any code to run on the blockchain. On the other hand, the design is designed to minimize the blockchains execution and remain fully verifiable on-chain while maintaining the efficient architecture of XRPL.　　Furthermore, functionality that focuses on privacy is also moving forward with XLS-96 Confidential Transfers for Multi-Purpose Tokens. This XRP Ledger amendment proposal aims to introduce confidential balances and transfers and retain supply auditing and issuer controls. The specification says that “individual balances and transfer amounts are encrypted and are not revealed to validators or external observers.”　　The feature is meant to support institutional and enterprise tokenization use cases where privacy of transactions is needed, according to the developers of the proposal. The document also points out the system would maintain “public auditability” by means

05-31Industry

Is ALGOs price heading towards a breakout on the charts?

Algorand [ALGO] spent February and March under persistent selling pressure as the price drifted from $0.1005 towards the $0.0796 demand floor. Throughout that period, the RSI remained subdued, reflecting weak demand and steady bearish control.　　Conditions, however, changed sharply in early April. The price surged from $0.0796 towards $0.1272 on the strongest volume expansion of the period, while the RSI briefly approached 80.　　This combination hinted at aggressive buyer participation, rather than a simple relief rally.　　Momentum later began cooling down. Although ALGO extended towards $0.1459, the RSI failed to confirm the higher high. Consequently, participation weakened as the price gradually rotated lower through May.　　At the time of writing, the market appeared to be stabilizing. The price was holding above $0.1005, while the RSI recovered to 65.22. This suggested that buyers may be re-engaging near support, even as the resistance remains firmly positioned at $0.1272.　　More importantly, a breakout above $0.1272 with stronger volume would indicate renewed demand and could open a path towards $0.1459. Otherwise, failure to overcome resistance may encourage another rotation towards $0.1005, keeping ALGO within its broader consolidation range　　ALGO nears a key breakout test　　now sits in the upper half of its two-month consolidation range. This means that buyers could continue

05-31Industry

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