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Solana network activity surge and ‘megaphone’ chart pattern set $210 SOL price target

Key Takeaways:

Solana formed a megaphone chart pattern with a potential $210 price target.

Solana’s ecosystem growth highlights renewed investor interest with a $4 billion realized cap increase and 731 million transactions.

Solana (SOL) price tested its key resistance at $180 earlier this week, but the altcoin failed to establish a position above the level. Over the past few days, SOL has consolidated above the $170 mark, but prices have dropped 5.65% since May 14.

Including the recent minor dip, Solana has formed a megaphone pattern on the 4-hour chart, a classic technical setup indicating increasing volatility.

Solana 4-hour chart. Source: Cointelegraph/TradingView

The chart illustrates that the megaphone’s upper resistance trendline sits near $185, aligning with immediate resistance at $180. A confirmed breakout above this level could propel SOL toward the pattern’s first target at $210, calculated by measuring the widest part of the pattern and projecting it upward

Canada lags with stablecoin approach, but there’s room to catch up

The slow adoption of stablecoins in Canada has some local crypto industry observers concerned that the country is falling behind.

The Canadian Securities Administrators (CSA) classified stablecoins as “securities and/or derivatives” in December 2022 after the FTX debacle that shook markets and turned many lawmakers against the crypto industry.

Regulating stablecoins as a security has seen few local stablecoin issuers arise, but in the United States and the European Union, softening regulations have seen significant growth in the stablecoin market. This makes Canada, observers say, less competitive with other jurisdictions.

Of particular concern is the perceived gap in peer-to-peer (P2P) payments in Canada, which stablecoins are uniquely qualified to fill.

Stablecoins globally have grown significantly over the last five years. Source: DefiLlamaLocal law constrains stablecoin growth and threatens dollar

In 2022, as the crypto market reeled from the collapse of FTX and the implosion of the Terra stablecoin system, regulators

Coinbase fires compromised agents in India— Report

Coinbase has reportedly fired a group of customer support agents following their alleged involvement in social engineering attacks on users. The contracted agents were based in India.

According to a May 15 Fortune interview, Coinbase’s chief security officer, Philip Martin, said the company flagged customer support contractors who allowed scammers access to user data, suggesting they could be Indian nationals. The CSO’s comments came after some crypto users reeled from attempted phishing attacks using their Coinbase data, which the exchange estimated could cost them between $180 million and $400 million in remediation and reimbursement.

Qiao Wang, a core contributor to Alliance DAO, said in a May 15 X post that he may have been a victim of one of these attacks. He said a scammer notified him his Coinbase account had been compromised, asked him to

Spot Bitcoin ETF inflows fall, but BTC whale activity points to bull market acceleration

Key takeaways:

Spot Bitcoin ETF inflows dropped over 90% from $3 billion to $228 million in four weeks.

While strong ETF inflows often drive Bitcoin rallies, recent data shows price movements can occur independently.

Despite short-term selling pressure, long-term BTC whale buying suggests a potential continuation of the BTC uptrend.

The Bitcoin (BTC) market posted a 90+% drop in spot BTC exchange-traded fund (ETF) inflows, falling from $3 billion in the last week of April to just $228 million this week.

Historically, a slowdown in ETF inflows has impacted BTC price, notably when daily inflows averaged over $1.5 billion for consecutive weeks. To understand the potential impact on Bitcoin, let’s examine four key periods of significant spot ETF activity and their correlation with BTC price movements.

Spot Bitcoin ETFs’ net inflows. Source: SoSoValue

In Q1 2024, from Feb. 2 to March 15, the spot ETFs

The AI revolution won’t be centralized — Superior agents are coming for Big Tech’s crown

Opinion by: Jennifer Dodgson, co-founder of KIP Protocol and Eigenform AI

The puppet show is ending.

The Brookings Institution found that generative artificial intelligence may disrupt at least 50% of tasks performed by more than 30% of all workers. The same study also estimates that genAI may affect at least 10% of tasks performed by approximately 85% of the human workforce. The TL;DR from these stats? AI’s effects are likely to be both broad and deep.

If AI doesn’t already scare you, self-learning AI agents that autonomously achieve goals may fix that. Forget your sanitized ChatGPT conversations and bland AI assistants. Superior agents are AI that autonomously achieve human-set objectives by any means necessary. While OpenAI’s valuation of $300 billion benefits the few rather than the many, superior agents operate like a new asset class that anyone can use to earn money passively.

Not your grandmother’s AI

Your grandma’s AI helps with writing emails and

What the 10-year Treasury yield means for crypto yields and stablecoins

Understanding the 10-year Treasury yield: Definition and importance

The 10-year Treasury yield is the interest rate that the US government pays to borrow money for 10 years.

When the government needs cash, it issues bonds called Treasury notes, and the 10-year note is one of the most watched. The “yield” is the annual return you’d get if you bought that bond and held it until it matures. It’s expressed as a percentage, like 4% or 5%.

Think of it as the government saying, “Hey, lend me $1,000, and I’ll pay you back in 10 years with some interest.” That interest rate and the yield move up or down based on demand for the bonds, inflation expectations and the overall economy. Because US Treasurys are considered safe (the government isn’t likely to default), the 10-year yield is a benchmark for “risk-free” returns in finance.

Why does

Read More at https://cointelegraph.com/explained/what-the-10-year-treasury-yield-means-for-crypto-yields-and-stablecoins?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Wintermute opens New York office, citing improved US crypto rules

Wintermute, a London-based algorithmic crypto trading and market-making firm, has opened an office in New York as part of its expansion into the US.

Wintermute announced the opening of its New York office on May 15, citing improved regulatory conditions in the world’s largest economy.

“As the US takes a friendlier stance on digital assets and institutional adoption accelerates, we moved quickly to establish roots in New York City,” the company wrote in a May 15 X post, adding that the local presence will help them in “contributing to the future regulatory framework.”

Source: Wintermute

“We’re eager to continue our growth and play an integral role in the U.S. market,” according to Evgeny Gaevoy, CEO of Wintermute. “As a neutral player with deep expertise in all areas of digital assets, we believe we are well-positioned to lend our expertise on Capitol Hill.”

As part of the firm’s expansion, Wintermute has

Tether blacklist delay allowed $78M in illicit USDT transfers: Report

A lag in Tether’s wallet blacklisting process allowed over $78 million in illicit funds to be moved before enforcement actions took effect, according to a new report from blockchain compliance company AMLBot.

Tether’s address blacklisting becomes effective only after a considerable delay from when the process is initiated on Ethereum and Tron, according the report published May 15.

“This delay originates from Tether’s multisignature contract setup on both Tron and Ethereum, transforming what should be an immediate compliance action into a window of opportunity for illicit actors,“ the report reads.

Tether’s blacklisting procedure is a multi-step process with a first transaction effectively warning of the upcoming blacklisting. First, a Tether administrator multisignature transaction submits a pending call to “addBlackList” on the USDT-TRC20 contract.

This results in a public “submission” of the target address as a blacklist candidate. This is followed by a second multisignature transaction confirming the submission,

Bitcoin mining 2025: Post-halving profitability, hashrate and energy trends

After the 2024 halving, Bitcoin mining entered its fifth epoch and block rewards were reduced from 6.25 BTC to 3.125 BTC. This forced miners to rethink their operations, optimize efficiency, cut energy costs and upgrade hardware to remain profitable. Cointelegraph Research, with insights from industry experts at Uminers, examines this transformation in its latest report. The analysis covers ASIC efficiency improvements, corporate performance, geographical expansion and new revenue models. As miners adapt, Bitcoin moves into a new era where institutional momentum and sovereign adoption could redefine its role in the global financial system.

Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.

The mining industry’s response to rising hashrate and shrinking margins

Despite the adverse financial impact of the halving, Bitcoin’s

Tron’s USDT supply to surpass Ethereum’s with new $1B mint

Stablecoin issuer Tether minted another 1 billion USDt tokens on Tron, pushing the network’s authorized USDT supply to surpass Ethereum’s.

On May 15, blockchain data showed that Tether’s treasury minted $1 billion of its dollar-pegged stablecoin, USDt (USDT), into the Tron network.

As of May 14, Tether’s stablecoin transparency page shows that Tron’s authorized USDT totals $73.7 billion, while Ethereum has $74.5 billion in authorized USDT tokens. If the newly minted tokens are added to the number of authorized USDT assets, Tron’s supply surpasses Ethereum’s.

In terms of circulating supply, Tron also has the lead with $73.6 billion USDT on the network, while Ethereum only has $71.8 billion.

Source: PeckShieldAlertTether’s USDT mints replenish the company’s token inventory

Tether CEO Paolo Ardoino previously said on X that some of the company’s blockchain-based USDT mints are used