Analysis: "BTC Recovers to $100,000, Solid Spot Demand"
Glassnode reported, "BTC spot trading volume delta 7-day simple moving average has turned positive, recording around $5 billion. Such aggressive net taker demand has rarely appeared this year, confirming that BTC's recovery to $100,000 is supported by genuine spot demand."
Analysis: "BTC Experiencing New Fund Inflows... Strength Likely to Continue"
Bitfinex projected in its weekly analysis report Bitfinex Alpha that BTC is likely to continue its upward trend due to favorable macroeconomic conditions and surging institutional investor demand. The report explained, "US-China trade agreement is reducing geopolitical risks, and the possibility of Federal Reserve rate cuts remains. Consequently, demand for risk assets centered on BTC is expected to increase. Additionally, BTC's realized market capitalization rose 2.1% in the past 30 days to $88.9 billion, reaching an all-time high, which is even more optimistic as it indicates recent BTC strength stems from new liquidity supply rather than speculative movements."
$1.2 Billion ETH Withdrawn from Exchanges in 7 Days... Accumulation Signal
Decentralized finance analysis layer Sentora reported via X that $1.2 billion worth of Ethereum (ETH) was net withdrawn from centralized exchanges (CEX) over the past week. This continues the net outflow trend since early May, which Sentora explained could be a signal that investors are accumulating ETH for the long term rather than selling.
Miners Increasing BTC Holdings
Cointelegraph reported that miners are increasing their BTC holdings. According to Glassnode, BTC recorded its lowest price in months in April, with long-term miner selling trends reversing to accumulation. Miner holdings increased from 1,794,622 BTC on April 12 to 1,797,330 BTC on May 13.
Q1 Crypto VC Investment Grows 131% Year-on-Year
Cointelegraph, citing PitchBook's Q1 Crypto VC Trends Report, reported that while Q1 cryptocurrency venture capital investment grew over twofold compared to the previous year, the number of investments decreased by nearly 40%. The report showed total VC investment deals at 405 in Q1, down 39.5% from 670 in Q1 2024. Meanwhile, total investment increased from $2.6 billion to $6 billion, a 131% increase, which is double the previous quarter's $3 billion.
FalconX Partners with Standard Chartered... Expanding Institutional Services
Cryptocurrency prime brokerage FalconX announced it will improve cryptocurrency accessibility for institutional clients using Standard Chartered's banking infrastructure and foreign exchange system, initially focusing on Singapore customers. This marks FalconX's first partnership with a global bank.
US Colorado Firm 'Xinbi' Involved in $840 Million Crypto Money Laundering
Cointelegraph, referencing an Elliptic report, reported that 'Xinbi Guarantee', registered in Colorado, was involved in $840 million of cryptocurrency money laundering. Identified as a China-based underground money laundering network, Elliptic revealed the platform operated telegram-based illegal marketplaces providing criminal goods and used USDT for money laundering services, particularly in "pig butchering" scams. Some connections to North Korean hacker groups were also suggested.
Bankrupt Crypto Lending Firm Cred Executives Admit Fraud
Cointelegraph reported that the Northern California US Attorney's Office announced Cred's CEO Daniel Schatt and former CFO Joseph Podulka admitted fraud charges. They confessed to deliberately minimizing and concealing Cred's financial situation, selectively providing positive information to attract customer assets. Sentencing is scheduled for August 26.
Foreign Media: Crypto Mixing Platform eXch Still Operational
Cointelegraph reported that despite German prosecutors closing the cryptocurrency transaction mixing platform eXch in April, it appears to continue operating discreetly. eXch has been typically considered a money laundering platform for hackers and criminals, with the North Korean Lazarus Group reportedly among its customers.
Synthetix to Acquire Derive for $27 Million
Synthetix (SNX) proposed acquiring the options trading protocol Derive (formerly Lyra) for $27 million. According to SIP-415 governance on the Synthetix blog, if the acquisition proceeds, Derive's DRV token will be swapped with SNX at a 27:1 ratio, with Synthetix planning to issue 29.3 million SNX to be paid to Derive. These tokens will be locked for 3 months and then linearly unlocked over 9 months. Upon completion, the entire Derive team will join Synthetix, along with its treasury assets, governance system, and intellectual property.
Financial Times Releases Strategy Documentary
The UK's Financial Times published a documentary about Michael Saylor and Strategy (formerly MicroStrategy) on YouTube. The Financial Times noted that while Strategy's stock price has significantly risen with BTC's increase, financial stability remains a challenge. Strategy's BTC holdings are 568,840 (average price $69,287).
gmgn.ai Deposits $17.73 Million SOL to Coinbase Prime
Meme coin trading platform gmgn.ai related address deposited 97,000 SOL ($17.73 million) to Coinbase Prime 20 minutes ago, according to on-chain analyst Amber CN.
407,262,917 USDC transfer... Anonymous → Binance
According to Whale Alert, 407,262,917 USDC was transferred from an anonymous address to a Binance address. The amount is approximately $410 million.
407,000,000 USDC transfer... Sefu → Anonymous
According to Whale Alert, 407,000,000 USDC was transferred from a Sefu address to an anonymous address. The amount is approximately $410 million.
Cygnus "Exceeded $1 billion TVL in April... Will focus on user expansion and ecosystem strengthening"
Web3 and Instagram app layer Cygnus announced through its official X that its total locked-up deposits (TVL) exceeded $1 billion in April. This is a figure that has increased by over 500% in the past six months.
Expert "Korean Won Stablecoin is absolutely necessary to prevent national wealth outflow"
Seo Byung-yun, head of the Future Finance Research Institute at virtual asset infrastructure company DSRV, said through his Facebook that "a Korean Won stablecoin is absolutely necessary to prevent national wealth outflow".
US-China tariff reduction agreement implemented... China "Will also suspend non-tariff retaliation"
The Chosun Ilbo reported that the United States and China have implemented an agreement to significantly reduce mutual high tariffs. The US lowered tariffs on Chinese goods from 145% to 30%, and China reduced tariffs on US imports from 125% to 10%.
Binance lists NXPC perpetual futures
Binance announced through its official website that it will list NXPC/USDT perpetual futures on the 15th at 3:30 PM (Korean time). A maximum leverage of 50x will be provided.
Binance Alpha adds BLUE
Binance Alpha announced the addition of BLUE. Tokens for Binance Alpha are selected reflecting community and market trends of early projects. Future listing is not 100% guaranteed.
WOO X lists HYPE spot trading
Global cryptocurrency exchange WOO X announced that it will list Hyperliquid (HYPE) spot trading on May 14th at 6 PM (Korean time). Deposits are currently supported.
Bithumb suspends XEC deposits and withdrawals
Bithumb announced that it will temporarily suspend XEC deposits and withdrawals on May 15th at 7 PM in support of the eCash (XEC) network mainnet upgrade.
Bithumb conducts airdrop event commemorating Gravity WEEK
Bithumb announced through its official website an airdrop event commemorating Bithumb x Gravity (G) WEEK. From May 14th to May 16th, 1.2 million G will be equally distributed to members who confirm and register coupon codes through content.
Solve Protocol rises over 17% in 24 hours
Bitcoin staking platform Solve Protocol (SOLV) rose over 17% in the past 24 hours, recording the highest increase among BTC theme projects.
Long/Short ratio of BTC perpetual futures at 3 major futures exchanges
The long/short position ratio of BTC perpetual futures in the world's top 3 cryptocurrency futures exchanges in the last 24 hours based on open interest is as follows:
Overall exchanges: Long 50.15% / Short 49.85%
1. Binance: Long 49.17% / Short 50.83%
2. OKX: Long 50.21% / Short 49.79%
3. Bybit: Long 51.24% / Short 48.76%
