txd102023

Ondo rebounded about 10% on May 24, 2026, but this rise was mainly driven by high-leverage trading, with spot buying not increasing correspondingly, so market risk remains high. Key points: * ONDO quickly rebounded to around $0.40. * On-chain data shows a large influx of leveraged long positions, driving a short-term price surge. * However, spot demand on major exchanges like Binance and Coinbase did not significantly increase, indicating the rise is more speculation-driven. Market signals: The analyst account Whale Factor pointed out that ONDO recently experienced a large number of long and short liquidations, suggesting that large funds may be accumulating or shaking out positions by creating volatility. Risk factors: Since the rise mainly depends on leveraged funds rather than genuine long-term buying, if the market pulls back, over-leveraged longs may be forced to liquidate, amplifying downside risk. Key levels: * $0.40 is the current important resistance zone, which has suppressed the price multiple times before. * If it fails to break out with volume, the price may fall back to the $0.35 support level. Market background: The overall trend of Bitcoin and Ethereum will continue to dominate altcoin sentiment, so ONDO's subsequent direction largely depends on whether the broader market can maintain stability.

Shiba Inu on-chain activity has clearly cooled down, with exchange outflows dropping by 21.5% in the past 24 hours. Meanwhile, a long-dormant whale transferred 800 billion SHIB to an exchange, drawing market attention. Key updates: * The whale transferred approximately $4.9 million worth of SHIB to the CoinMENA exchange. * This wallet initially purchased 1.03 quadrillion SHIB for about $13,700 years ago and currently holds around 16.2% of the total supply. * However, this transfer accounts for only about 0.8% of its total holdings. Analysts believe this is more likely profit-taking or liquidity adjustment rather than panic selling. On-chain data: * SHIB exchange reserves remain around 808 trillion tokens. * The decline in outflows indicates investors are adopting a wait-and-see approach, with neither strong buying pressure nor large-scale exits. Technical analysis: * SHIB has broken below the ascending wedge pattern formed since March. * The current price is below the short- and mid-term moving averages, indicating a generally weak trend. * However, the key support at $0.00000550 remains temporarily intact. Short-term outlook: If the support holds and selling pressure does not intensify, SHIB may rebound to challenge the $0.00000630–$0.00000650 resistance zone; but if the overall market continues to weaken, the price still faces further downside risk.

The Ethereum Foundation's recent sale of approximately $47 million worth of Ethereum has sparked market controversy, but blockchain researcher William Mougayar has come forward to defend it, arguing that the public misunderstands the foundation's true role. Key points: Mougayar believes the Ethereum Foundation's responsibility is to "maintain and advance protocol development," not to boost ETH prices or conduct marketing. He emphasizes: * ETH is an asset * Ethereum is a shared computing infrastructure * The foundation is essentially a non-profit protocol governance organization Financial moves: * The foundation recently sold about 25,000 ETH cumulatively to BitMine Immersion Technologies through over-the-counter (OTC) transactions, valued at around $47 million. * At the same time, it unstaked over 38,000 ETH from staking protocols including Lido, worth nearly $90 million. Market controversy: Some investors believe that large-scale selling suppresses ETH prices. Currently, ETH is still about 57% below its all-time high of $4,953 in April 2021. However, supporters argue this is normal fund management by the foundation, used to: * Fund core research * Advance protocol upgrades * Reduce Ethereum's long-term dependence on the foundation itself Mougayar likens external demands for the foundation to "market ETH" to expecting "IETF to run a Super Bowl ad for TCP/IP," emphasizing the fundamental difference between technical governance and asset promotion. Market performance: As of now, ETH is around $2,117, up about 4.7% intraday.

Infinit rose about 9.85% on Sunday to 145 KRW, mainly due to a significant surge in its trading volume and investor sentiment ranking on the Korean exchange Upbit. Market Interpretation: This increase reflects a short-term warming of risk appetite in the Korean retail market. IN topping the Upbit sentiment leaderboard indicates that funds are rapidly flowing into small-cap, high-volatility tokens. Market Background: With Bitcoin and Ethereum entering a consolidation phase, some retail funds have started seeking altcoin opportunities with higher elasticity. This phenomenon is similar to the recent trend of certain alternative assets receiving phased capital attention. Short-term Focus: The market is watching whether IN's rise is: * Simply a short-term speculative rally or * An early signal of a new round of small-cap altcoin rotation. Risk Warning: Sentiment-driven rallies in the Korean market usually experience high volatility, and if trading enthusiasm cools down, prices may quickly give back gains.

Jupiter dropped 13% in the past 24 hours, mainly affected by a decline in on-chain activity and overall market weakness. Key reasons: * User activity continues to decline. Data shows that Jupiter's daily active users (DAU) over the past 30 days decreased by 19% to about 37,800. * The reduction in users directly drags down protocol revenue, with annualized fee income (30-day average) falling 29% to about $332 million. Market impact: As an important liquidity aggregation protocol in the Solana ecosystem, the simultaneous decline in users and fees is seen by the market as a signal of weakening fundamentals, thereby intensifying selling pressure on JUP. Technical aspect: * JUP has currently entered a historical support zone, where it previously experienced about a 58% rebound. * However, short-term indicators remain bearish: * The Parabolic SAR is above the price, indicating the downtrend persists. * The Money Flow Index (MFI) has fallen below 50, indicating outflows exceed inflows. Although there is still a net buy of about $3.43 million in the spot market, the buying pressure is temporarily insufficient to reverse the overall bearish trend. Short-term outlook: If the support zone holds, JUP may see a technical rebound; however, if on-chain activity and revenue continue to decline, market sentiment may further weaken.

NEAR Protocol rose 14.08% to $2.38 on Saturday, becoming one of the best-performing major cryptocurrencies of the day, indicating that funds are flowing back into the high-beta altcoin market. Market background: The overall crypto market capitalization rebounded about 2% to $2.7 trillion after experiencing a sharp correction of over $180 billion. The return of risk capital has driven a notable rebound in some altcoins. Other major performers: * Ondo up 11.60% to $0.4276 * Worldcoin up 11.58% * Toncoin down 2.64% * Provenance Blockchain down 2.83% Reasons for NEAR's rise: The market believes funds are favoring projects with strong technical narratives and growth potential. NEAR uses Nightshade sharding technology, which can improve transaction speed and reduce development costs, making it more attractive to investors during the market recovery phase. Market structure changes: Currently, funds have not fully returned to all altcoins but are more inclined towards projects that: * Have technical advantages * Have clear application scenarios * Or possess future catalysts Meanwhile, Bitcoin's market dominance remains around 58%, indicating Bitcoin still leads the overall trend, but some funds have started rotating into high-volatility assets like NEAR to seek higher returns. Short-term outlook: If market sentiment remains stable, strong AI and infrastructure tokens like NEAR may continue to outperform the broader market; however, if macro risks re-emerge, high-beta altcoins could face more severe corrections.

If Ethereum breaks through $2,179, it could trigger the forced liquidation of approximately $1.056 billion in short positions, resulting in a large-scale "Short Squeeze." According to the CoinGlass liquidation heatmap, a large number of short leveraged positions are concentrated above $2,179. Once the price quickly breaks through, shorts in this area may be forced to cover ETH, further driving up the price and accelerating upward momentum. Current context: * ETH is currently around $2,069. * In the past 24 hours, the total liquidation amount in the crypto market exceeded $871 million. * Among these, long liquidations account for about $788 million, mainly due to Bitcoin falling below $75,000. This makes ETH's situation more unique because the current market is mainly clearing longs, while a large amount of short leverage is accumulated above ETH, creating potential for a reverse squeeze. Market significance: If ETH successfully breaks through $2,179 while BTC remains weak, it may indicate short-term capital rotation from Bitcoin to the altcoin market. The market will also closely watch whether the ETH/BTC exchange rate shows relative strength. Risk points: If ETH fails to break through $2,179 and is suppressed, this area may be confirmed as a strong resistance level, and the market could further shift toward a bearish trend.

After being preliminarily included in the Russell 3000 index shortlist, Bitmine Immersion Technologies has once again purchased approximately $125.9 million worth of Ethereum, further strengthening its positioning as the "Ethereum version of MicroStrategy." Key updates: * Bitmine newly acquired 60,000 ETH this time, bringing its total holdings to 5.3 million ETH, close to its 6 million ETH target. * Chairman Tom Lee believes that after ETH's roughly 15% pullback in May, it is an ideal opportunity to increase holdings. * The company just bought 71,000 ETH last week, showing continued aggressive accumulation. Significance of Russell 3000: If officially included in the Russell 3000 by the end of June, Bitmine will automatically enter the allocation scope of many index funds and ETFs, potentially attracting more passive institutional capital inflows. Market performance: Despite the positive news, BMNR's stock price still dropped 3.7% to $18.80, with a year-to-date decline of about 30%, closely mirroring ETH's overall performance. Bitmine model: The company is transforming from a traditional mining enterprise into the world's largest enterprise-level ETH holder. Unlike MicroStrategy's pure BTC reserve model, Bitmine uses the MAVAN platform to stake about 90% of its ETH, continuously generating yields, which are then used for operations or further ETH accumulation, forming a dual strategy of "holding + yield generation." Market background: The overall crypto market has been weak recently, with spot Bitcoin ETFs seeing net outflows of about $1 billion last week, and ETH prices falling back to around $2100, but Bitmine views this as a long-term accumulation opportunity.

NEAR Protocol rose about 60% over the past week, breaking through $2.10 on May 23, with short-term performance significantly stronger than most altcoins. According to Elliott Wave analysis by analyst moretradingonl, NEAR's current upward structure remains strong, with further upside potential ahead, but short-term correction risks are also increasing. From a technical perspective: * NEAR has reached the 123.6% Fibonacci extension level at around $2.30 on the 4-hour chart. * The next target levels are: * $2.50 (138% extension level) * $2.86 (161.8% extension level) Key support levels: * $1.82–$1.99 is the normal correction range (the “Wave 4” adjustment in wave theory). * $1.57 is the core defense level of the current bullish structure; if broken, the current upward logic may fail. Market background: The AI concept tokens have recently strengthened overall, providing additional support for public chain projects like NEAR with AI narratives.

Block Street derivative trading volume surged to $3.09 billion within 24 hours, skyrocketing 190%, triggering a massive short squeeze and driving the token price up by over 40%. Main reason: Influx of high-leverage speculative funds. According to CoinGlass data, $7.66 million worth of positions were liquidated in the past 24 hours, with short liquidations reaching $4.96 million, significantly higher than the $2.7 million in long liquidations, indicating a large number of short trades were forced to close, further pushing up the price. Market driving factors: BSB is currently priced at $1.19, up 41.46% in 24 hours. Futures open interest surged 111% to $137 million, showing a large influx of new speculative positions entering the market. The recent launch news on Bitkub also boosted spot buying. Short-term outlook: BSB is currently testing the key resistance level at $1.51. If the breakout fails, the price may fall back to the support near $1.00; if strong volume is maintained, there is still room for further upward movement. Project background: Block Street positions itself as a "unified liquidity layer for on-chain capital markets," aggregating multi-chain RWA (real-world asset) liquidity from Ethereum, BNB Chain, Base, and others. Official data shows its institutional API has processed over $241 million in cumulative transaction volume.