Crypto

Spot volume on exchanges dropped 80% after December 2024 highs, showing a lack of market appetite for ETH.

A cascade of liquidations might suggest a market turning point, where a price reversal could be imminent due to an overreaction in market sentiment.

Altcoins took a beating as traders digested renewed U.S.-China tariff tensions, Bitcoin whale sell-offs, and a broader risk-off mood.

US government argues Coinbase user James Harper has no right to block IRS access to his crypto records in Supreme Court filing. The US government has urged the Supreme Court not to take up a Coinbase user’s challenge against the Internal Revenue Service’s (IRS) effort to obtain his crypto transaction records. In a filing dated May 30, Solicitor General D. John Sauer argued that Coinbase user James Harper has no Fourth Amendment right to shield his financial records held by the exchange. The government claimed that Harper “voluntarily” shared his data with Coinbase, and that the IRS followed proper legal procedures to obtain it through a judicially approved summons. Read more

BlackRock ended its spot Bitcoin ETF inflow streak with its largest outflow on record, nearly $12.7 million more than its previous biggest outflow day. The world’s largest asset manager, BlackRock, has ended its 31-day spot Bitcoin exchange-traded fund (ETF) inflow streak with its biggest recorded outflow day since the product launched in January 2024. On May 30, BlackRock’s iShares Bitcoin Trust (IBIT) ended its significant inflow streak with its largest daily outflow of $430.8 million, according to Farside data. Before this, IBIT’s largest outflow day was on Feb. 26, with $418.1 million in outflows. ETF analyst Nate Geraci said in a May 31 X post, “What a run over the past 30+ days, though.” Geraci highlighted that BlackRock is “now pushing” approximately $70 billion in Bitcoin (BTC) holdings since it launched. “Not sure I have words to describe how ridiculous this is,” Geraci said. Read more

ENA, INJ, and VIRTUAL are among today's biggest losers.

In the meantime, PI's price continues to struggle with another massive plunge.

ETH continues to consolidate beneath a key resistance level around $2,800, struggling to break higher after a strong rally earlier in May. While the bulls have held higher lows in the short term, repeated rejection from the same level raises questions about buyer conviction at these highs. Technical Analysis The Daily Chart Ethereum is currently […]

SharpLink Gaming intends to use most of the proceeds from its proposed share sell-off to purchase Ether, according to a recent SEC filing. US sports betting platform SharpLink Gaming has filed with the Securities and Exchange Commission (SEC) to offer up to $1 billion in shares of common stock in an effort to increase the holdings of its newly launched Ether treasury. “We intend to use substantially all of the proceeds from this offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH,” SharpLink Gaming said in the May 30 filing. “We also intend to use the proceeds from this offering for working capital needs, general corporate purposes, operating expenses and core affiliate marketing operations,” it said. Read more

New York City Comptroller Brad Lander has firmly rejected Mayor Eric Adams’s Bitbond plan, calling Bitcoin-backed municipal bonds legally dubious and fiscally unsound. He says crypto volatility could erode investor trust, and federal tax rules bar such debt from funding local projects. The post NYC Comptroller Rejects Mayor Adams’s “Bitbond” Proposal as Legally and Fiscally Flawed appeared first on Cryptonews.

REX Shares took a “regulatory end-around” with its Ethereum and Solana staking ETF filings, and the launch looks “imminent,” an ETF analyst says. The first Ethereum and Solana staking exchange-traded funds (ETFs) could debut in the United States within a matter of weeks, following a recent filing by ETF provider REX Shares that used “regulatory workarounds,” according to ETF analysts. The staking component has been highly anticipated for spot Ether (ETH) ETFs since their launch in July 2024, with some industry executives arguing the product feels incomplete without it. “These ETFs are structured as c-corps. Which is very rare in the ETF world,” ETF analyst James Seyffart said of the REX Shares filing in a May 30 X post. Read more

Validators representing nearly 91% of Sui stake approved an on-chain proposal to release about $162 million seized during last week’s Cetus exploit, allowing the DEX to reimburse users and restore full operations. Cetus said in a social media post that the 48-hour referendum closed on May 29 when more than two-thirds of the network endorsed […] The post Sui community approves release of $162M in tokens frozen during Cetus hack appeared first on CryptoSlate.

ETH holds on to the bulk of its weekly gains, while BTC and altcoins sell off. Key takeaways: Ethereum network fundamentals improve alongside its resilient ETH futures markets.  An increase in layer-2 transactions highlights ecosystem growth. Read more

Britain's Reform Party leader Nigel Farage made his case to Bitcoin 2025 attendees in Las Vegas ahead of a planned UK prime minister run.

Coinbase analysts believe that the $5 billion repayment round initiated by the FTX Recovery Trust could function as a significant injection of liquidity into digital asset markets, potentially influencing trading behavior and asset flows as funds reach affected creditors this week. The FTX Recovery Trust began distributing more than $5 billion in stablecoins on May […] The post Coinbase says FTX repayments could become a $5B market injection appeared first on CryptoSlate.

The Moonbirds Ethereum NFT property is taking flight, departing Yuga Labs soon after CryptoPunks and Meebits also found new homes.

Mayor Eric Adams’s push for a Bitcoin-backed municipal bond faces strong opposition from Comptroller Brad Lander, who found the plan "legally dubious and fiscally irresponsible." New York City Comptroller Brad Lander has criticized Mayor Eric Adams’s proposal to issue municipal bonds backed by Bitcoin, warning that such a move would introduce financial risk and undermine investor confidence. In a May 29 statement, Lander said he would not allow the New York City to issue the crypto-tied debt instrument while he is in office. Lander’s office shares responsibility for debt issuance with the Mayor’s Office of Management and Budget. “Cryptocurrencies are not sufficiently stable to finance our City’s infrastructure, affordable housing, or schools,” the comptroller said, adding that the proposal exposes the city ”to new risks and erode bond buyers’ trust.”  Read more

Meme coin speculators are watching PEPE closely, following what many interpret as a soft shill from U.S. President Donald Trump. The post Pepe Price Prediction: Trump Posts Pepe Meme on Socials – Is He About to Buy? appeared first on Cryptonews.

Cardano has gone down by nearly 6% in the past 24 hours as the market has finally decided to take some profits off the table after multiple weeks of strong rallies.Trading volumes have gone up by nearly 43% and are currently nearing the $1 billion mark for Cardano, emphasizing that the selling spree might be […] The post Cardano Price Prediction: On-Chain Data Shows Whales Accumulated While Retail Sold – Is a Parabolic Move Coming? appeared first on Cryptonews.

Meta Platforms shareholders rejected a measure that urged the company to add Bitcoin (BTC) to its $72 billion cash pile, voting 4.98 billion shares against and 3.92 million for at the May 30 annual meeting, as reports surfaced. Abstentions totaled 8.86 million shares, while brokers withheld votes on 204.77 million shares. With fewer than 0.1% […] The post Meta shareholders reject Bitcoin treasury bid in landslide vote appeared first on CryptoSlate.