Pi Network (PI) News Today: May 14

• Pi Network has over 18.1 million users completing KYC verification and 16.7 million migrating to Mainnet, despite ongoing user complaints about verification delays.
• The project has introduced several protocol upgrades, with the latest being protocol v22, while the deadline for the next upgrade has been extended to May 19.
• Despite advancements, PI's price remains low at around $0.17, with increasing amounts of tokens on exchanges indicating potential selling pressure.

https://cryptopotato.com/pi-network-pi-news-today-may-14/

Why Ethena Just Recorded Its Biggest Network Growth in Over Three Months

• Ethena experienced its largest single-day network growth in over three months on May 12, driven by a surge in newly created wallets and whale activity.
• Grayscale Investments added ENA to its DeFi Fund, contributing to increased custody wallet creation and heightened interest in the protocol.
• Ethena's USDe stablecoin is being integrated into a new institutional lending market on Solana, marking a significant step in its expansion and institutional adoption.

https://cryptopotato.com/why-ethena-just-recorded-its-biggest-network-growth-in-over-three-months/

Internet Computer (ICP) Tumbles 10% Daily: Is Coinbase Responsible for the Plunge?

• ICP experienced a 10% price decline, reaching a one-week low under $3, amid a broader crypto market correction.
• Coinbase's removal of several non-USD trading pairs, including ICP/USDT, has reduced liquidity and impacted investor confidence.
• Technical indicators, such as a low Relative Strength Index (RSI) of 28, suggest a potential price revival, with analysts predicting a possible breakout and significant upside.

https://cryptopotato.com/internet-computer-icp-tumbles-10-daily-is-coinbase-responsible-for-the-plunge/

ETH Profit-Taking Hits 3-Week High Despite 5.5% Price Drop

• Ethereum's network saw its highest realized profits in three weeks, totaling $74.58 million, despite a 5.5% price drop over the past three days.
• Profit-taking is primarily from traders who bought ETH below $2,000 during February and March, capitalizing on their gains even as prices decline.
• Analysts caution that Ethereum is in a technically fragile state, with critical support levels to watch if it fails to regain the 21-week moving average.

https://cryptopotato.com/eth-profit-taking-hits-3-week-high-despite-5-5-price-drop/

Coinbase Becomes Official USDC Treasury Deployer on Hyperliquid

• Coinbase is now the official treasury deployer of USDC under Hyperliquid's Aligned Quote Asset (AQA) framework, aiming to enhance USDC's role in on-chain capital markets.
• The transition will concentrate liquidity around USDC, improving market efficiency and allowing users to convert USDH to USDC without fees during the phase-out of USDH markets.
• Hyperliquid will see future upgrades transitioning to USDC as the quote asset, with Circle overseeing cross-chain services and both Coinbase and Circle committing to staking HYPE tokens for protocol support.

https://cryptopotato.com/coinbase-becomes-official-usdc-treasury-deployer-on-hyperliquid/

Shiba Inu (SHIB) Collapses 60% in a Year: 3 AIs Reveal What Might Trigger a Big Revival

• Shiba Inu (SHIB) has seen a 60% decline in price over the past year, with its peak market cap of over $40 billion in late 2021 not sustained.
• Potential catalysts for a revival include increased adoption of the Shibarium layer-2 solution, a significant reduction in supply through burn rates, and the introduction of a spot SHIB ETF.
• The price movement of Bitcoin and whale investor activity are also crucial factors that could influence SHIB's resurgence in the market.

https://cryptopotato.com/shiba-inu-shib-collapses-60-in-a-year-3-ais-reveal-what-might-trigger-a-big-revival/

How Will Markets React When $2B Bitcoin Options Expire Today?

• Approximately 25,000 Bitcoin options contracts worth around $2 billion are set to expire, with a put/call ratio of 0.55 indicating more long sellers than shorts.
• Total Bitcoin options open interest is at $38 billion, with the highest value at the $80,000 strike price, while Ethereum options worth $625 million are also expiring.
• Crypto prices are experiencing a slight recovery after a mid-week dip, with Bitcoin struggling to maintain levels above $81,000 and Ethereum falling back to $2,265.

https://cryptopotato.com/how-will-markets-react-when-2b-bitcoin-options-expire-today/

Ripple Whales Control Nearly 70% of Supply as XRP Eyes Major Breakout

• XRP surpassed $1.50 as large holders increased their positions, with wallets holding at least 10 million XRP controlling 68.5% of the circulating supply.
• The asset's price surged over 7% in response to the US Senate Banking Committee's approval of the Digital Asset Market Clarity Act, with analysts predicting potential targets of $1.52, $1.60, and $1.80.
• XRP ETFs saw significant inflows of $18.52 million, surpassing Ethereum and Solana, while leverage on Binance reached a two-month high, indicating increased market sensitivity.

https://cryptopotato.com/ripple-whales-control-nearly-70-of-supply-as-xrp-eyes-major-breakout/

Hyperliquid (HYPE) Explodes by 20% in a Day but Red Flags Appear

• Hyperliquid's native token, HYPE, surged over 20% to $47, adding approximately $2 billion to its market cap and nearing the top 10 altcoins.
• Coinbase's expanded support for USDC on Hyperliquid and the advancement of the Digital Asset Market Clarity Act by the US Senate Banking Committee contributed to the token's rise.
• Analysts warn of potential profit-taking and price corrections, with predictions suggesting possible declines to $33 or lower unless HYPE breaks past $50.

https://cryptopotato.com/hyperliquid-hype-explodes-by-20-in-a-day-but-red-flags-appear/

Pi Network Drops New Update That ‘Changes the Equation for Creators’: Details

• Pi Network's latest update emphasizes the integration of AI and human input, allowing creators to leverage a user base of over 60 million for app development.
• The Pi App Studio enables non-technical users to create Pi-native apps using AI-assisted coding tools, streamlining the app creation process.
• Creators can now connect their applications to an established ecosystem with payment capabilities and identity verification, facilitating faster realization of their ideas.

https://cryptopotato.com/pi-network-drops-new-update-that-changes-the-equation-for-creators-details/

RUNE Plunges by 15% as THORChain Falls Victim to New Hack: ZachXBT

• THORChain is reportedly the victim of a new hack, with losses exceeding $7.4 million across multiple blockchains.
• The native token RUNE experienced a significant drop, falling from over $0.58 to a two-week low of $0.50 following the news.
• No official confirmation from THORChain's team has been provided yet, and further updates are expected.

https://cryptopotato.com/rune-plunges-by-15-as-thorchain-falls-victim-to-new-hack-zachxbt/

Crypto Price Analysis May-15: ETH, XRP, ADA, BNB, and HYPE

• Ethereum (ETH) is currently at $2,270, facing bearish momentum and a potential drop to $2,200 if it loses support.
• Ripple (XRP) closed 6% higher, breaking out of a pennant pattern and aiming to test the $1.6 resistance, with bullish signals as long as it stays above $1.4.
• Hyperliquid's HYPE surged 20% due to a new agreement involving USDC, but it risks a bearish re-test if it fails to maintain support at $43.

https://cryptopotato.com/crypto-price-analysis-may-15-eth-xrp-ada-bnb-and-hype/

Big Binance Updates, Ripple (XRP) Price Predictions, and More: Bits Recap May 15

• Binance has removed several altcoins, including Automata and Harvest Finance, leading to significant price drops and reduced liquidity for these assets.
• Ripple's XRP has seen a 6% weekly increase, influenced by institutional interest and recent legislative developments, while large investors control nearly 70% of its circulating supply.
• Cardano's ADA has only risen 2% over the past week, but analysts predict a potential bull run, with key support levels indicating possible significant price increases in the future.

https://cryptopotato.com/big-binance-updates-ripple-xrp-price-predictions-and-more-bits-recap-may-15/

Strategy Plans Major Note Repurchase While Leaving Door Open to Bitcoin Sales

• Strategy has agreed to repurchase approximately $1.5 billion of its 0% Convertible Senior Notes due 2029 for an estimated cash price of around $1.38 billion, subject to stock price adjustments.
• The repurchases will be funded through cash reserves, sales of securities, and potentially Bitcoin sales, with transactions expected to settle around May 19th.
• Following the repurchase, Strategy plans to cancel the notes, leaving about $1.5 billion of the 2029 convertible notes outstanding, amid a recent $12.5 billion loss linked to Bitcoin's price decline.

https://cryptopotato.com/strategy-plans-major-note-repurchase-while-leaving-door-open-to-bitcoin-sales/

XRP Holders Get New Yield Opportunity via Flare and Monarq Collaboration

• Flare has launched the Monarq XRP Yield Vault (MXRPY), a multi-strategy yield product for XRP holders, in collaboration with Monarq and Upshift.
• MXRPY employs three strategies: options trading, basis and funding rate arbitrage, and on-chain XRPFi deployment, targeting an annual percentage yield (APY) of 3% to 4%.
• A standalone application for MXRPY is planned, allowing users to connect directly via their XRP Ledger wallets, enhancing access to diversified yield opportunities.

https://cryptopotato.com/xrp-holders-get-new-yield-opportunity-via-flare-and-monarq-collaboration/

Bitcoin Rejected at $80K as Inflation Fears Outweigh CLARITY Act Progress: Weekly Recap

• Bitcoin experienced volatility, initially rising to $82,500 before dropping below $80,000 due to inflation data revealing a three-year high CPI of 3.8%.
• The passage of the CLARITY Act by a Senate panel was seen as a positive development for the crypto industry, briefly boosting BTC to $82,000 before bears reasserted control.
• Despite a slight weekly gain, Bitcoin's market cap fell to $1.580 trillion, with its dominance over altcoins remaining above 58%, while it was outperformed by several altcoins.

https://cryptopotato.com/bitcoin-rejected-at-80k-as-inflation-fears-outweigh-clarity-act-progress-weekly-recap/

Solana (SOL) at a Turning Point: What Will Define the Next Breakout?

• Solana (SOL) has seen a 10% increase over the past month but remains below the $100 mark, currently trading around $91 with a market cap of nearly $53 billion.
• Analyst Ali Martinez identifies a key resistance at $98, suggesting that a daily close above this level could lead to a price surge towards $107 and $117, while failure to break through may see a retreat to $88 or $78.
• Optimistic forecasts from various analysts predict potential future prices for SOL, with estimates ranging from $160-$170 in the near term to over $500 by 2029, driven by increasing adoption and inflows into spot SOL ETFs.

https://cryptopotato.com/solana-sol-at-a-turning-point-what-will-define-the-next-breakout/

Bitwise Set to Launch Hyperliquid (HYPE) ETF

• Bitwise is launching an ETF tracking Hyperliquid's HYPE token, starting May 15 under the ticker BHYP on the NYSE.
• The BHYP ETF will utilize an in-house staking infrastructure and aims to provide a low-cost investment option in Hyperliquid's growth, which dominates 60% of global on-chain perpetual DEX open interest.
• The fund carries a 0.34% sponsor fee, waived for the first month on the first $500 million in assets, and is not registered as an investment firm, lacking the protections of traditional ETFs.

https://cryptopotato.com/bitwise-set-to-launch-hyperliquid-hype-etf/

This Indicator Correctly Called Major Ethereum Moves – Here’s What It’s Flashing Now

• Ethereum has erased nearly all gains from earlier this month due to renewed selling pressure, raising concerns of a potential corrective phase.
• Analyst Ali Martinez identified a new weekly TD Sequential sell signal, predicting possible declines to support levels at $1,900, $1,565, and $1,090, with $1,071 as a strong buying zone.
• US spot Ethereum ETFs experienced four consecutive days of outflows totaling $189.55 million, indicating significant capital leaving the market.

https://cryptopotato.com/this-indicator-correctly-called-major-ethereum-moves-heres-what-its-flashing-now/

ZachXBT’s Explosive Claims Send LAB Tumbling Over 30% in One Day

• Crypto investigator ZachXBT accused the LAB team of using opaque OTC deals and insider-controlled supply to inflate the token's valuation, leading to a 30% crash in 24 hours.
• LAB's token distribution remains unclear, with different circulating supply figures reported by major platforms, and insiders allegedly control over 95% of the supply.
• ZachXBT highlighted hidden arrangements, including discounted OTC allocations and influencer agreements, which created supply risks that retail traders could not track, urging exchanges to take action against alleged insider profits.

https://cryptopotato.com/zachxbts-explosive-claims-send-lab-tumbling-over-30-in-one-day/

Ethereum Price Analysis: Is ETH Finally Attempting a Real Breakout?

• Ethereum is currently trading above $2.2k, facing resistance at the $2.4k level, with a potential for further consolidation in the coming days.
• The daily chart shows ETH above the 100-day moving average, but a close below $2k could indicate significant structural damage for buyers.
• Exchange reserves have increased slightly to 14.9M ETH, suggesting some holders are taking profits as prices approach resistance, complicating the potential for a breakout above $2.4k.

https://cryptopotato.com/ethereum-price-analysis-is-eth-finally-attempting-a-real-breakout/