Cetus, a decentralized exchange (DEX) on the Sui blockchain, has reportedly suffered a devastating exploit. According to on-chain investigator Lookonchain’s update, over $260 million was stolen from Cetus. The attacker swapped the stolen assets into USDC and bridged roughly $60 million to Ethereum, where it was exchanged for ETH. Lookonchain further reported that the exploiter has already spent $58.3 million USDC to purchase 21,938 ETH at an average price of $2,658 per token. The breach has caused a dramatic collapse in the value of numerous Sui-based tokens on Cetus, with some assets like LBTC and AXOL losing nearly all their value. Other tokens such as LOFI, HIPPO, and SQUIRT have lost over 80% in the past six hours, according to data compiled by DEX Screener. Cetus acknowledged the exploit via its official X account and confirmed that it had paused its smart contracts as a precaution and launched an internal investigation. “There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.” Onchain Lens previously speculated that the attacker had gained control of all SUI-denominated liquidity pools before draining them. Meanwhile, Binance founder CZ tweeted that their team has extended support to the Sui team following the incident. The post SUI-Based Cetus Protocol Reportedly Exploited for Over $260M, Investigation Underway appeared first on CryptoPotato .

2025-05-22 16:08

Ethereum is approaching a decisive resistance at the 200-day moving average of $2.7K, signalling a potential bullish shift in market sentiment. A successful breakout above this level could ignite a strong rally, with the price likely targeting the $3.5K threshold in the mid-term. Technical Analysis The Daily Chart ETH is on the verge of a decisive breakout above the critical 200-day moving average at $2.7K, a key level that has historically served as both support and resistance. After a brief consolidation beneath this threshold, the market has regained strength, with renewed buying pressure pushing the price toward a potential breakout. A confirmed break above the $2.7K resistance would mark a significant shift in market sentiment, signaling the beginning of a broader bullish reversal. In this scenario, Ethereum is likely to target the $3K mark in the near term, with a possible extension toward the $3.5K resistance in the mid-term. However, if the breakout attempt is rejected, selling pressure may take control, leading to a deeper retracement toward the $2K support region, aligned with the 100-day moving average. This level would then serve as a critical zone for the bulls to regroup. The 4-Hour Chart On the lower timeframe, ETH recently consolidated within a bullish continuation wedge pattern. After testing and holding support at the wedge’s lower boundary near $2.3K, the asset went on an impulsive rally, breaking out of the structure. This breakout reflects a continuation of the bullish trend. Nevertheless, Ethereum now faces a key short-term resistance around the $2.7K swing high. A brief rejection and pullback toward the breakout level could occur, which would serve to validate the breakout before a potential continuation rally toward the $3K and possibly $3.5K levels. Onchain Analysis The Binance liquidation heatmap continues to offer key insights into Ethereum’s evolving market dynamics and potential price trajectory. Following a strong upward movement, ETH recently reached the critical $2.7K level, where a dense cluster of liquidation levels was triggered, flushing out leveraged short positions and offloading significant market liquidity. Historically, in phases of recovery or strong bullish sentiment, markets tend to hunt these liquidity pockets, as smart money and institutional participants trigger forced liquidations to fuel upward momentum. Currently, Ethereum has reclaimed the $2.5K resistance and is holding above $2.7K, signaling renewed bullish strength. Notably, the heatmap reveals a noticeable void of substantial liquidation levels between the current price and the $3.5K range. This lack of sell-side liquidity indicates reduced resistance ahead, supporting the potential for a continued rally toward the $3.5K threshold in the mid-term. The post Ethereum Price Analysis: ETH Challenges Key Resistance, Is $3.5K Next? appeared first on CryptoPotato .

2025-05-22 15:37

As time goes on, United States President Donald Trump keeps fulfilling promises he has made to the crypto community. One of them is a special dinner with users holding his meme coin, Official Trump (TRUMP). According to emails obtained by Fortune, the gala dinner has been fixed for Thursday, May 22, in one of his golf clubs – Trump National Golf Club – at Potomac Falls, Virginia. Only the top 220 TRUMP holders will have the option to attend. Trump to Dine With Top TRUMP Holders To join the leaderboard , users had to hold as much TRUMP as possible from April 23 to May 12. Their average holdings determined their ranking on the board. The top 25 TRUMP holders will have an exclusive reception before the dinner with the president. They will also receive a special VIP tour and have been encouraged to remain in town after the dinner. The organizers have stated that no guests are allowed to attend the dinner—only registered persons will be let into the event. Guests must pass background checks at the venue and can not be from the know-your-customer (KYC) watchlist countries. The 220 attendees are not allowed to arrive earlier than 5:30 p.m., as the dinner will start at 7 p.m. and could go on till 10 p.m. The dress code is formal attire; once an attendee’s information is submitted, it cannot be changed. Who Will Be Attending? The leaderboard on the Official Trump website shows pseudonymous names linked to wallet addresses and their’ current and previous TRUMP holdings. Since the names do not convey the holders’ real identities, it will be difficult to know who will attend the dinner. However, some attendees have announced that they will be attending, and one of them is the controversial crypto big name, Justin Sun. He founded the decentralized blockchain Tron and is an advisor for the crypto exchange HTX. Sun is number one on the TRUMP leaderboard and has revealed on X that he is honored to attend the dinner. Besides Sun, Fortune found that the Singaporean crypto company (MemeCore), the second-largest TRUMP holder, will be sending its anonymous co-founder as a representative to the dinner. Also, Kain Warwick, an Australian investor and founder of the crypto company Infinex, will attend, although he is not among the top 25 holders. Interestingly, Fortune discovered that 18 of the top 25 holders have interacted with the crypto exchange Binance. Since Binance does not offer services to U.S. investors, they are believed to come from outside the country. How Has TRUMP Reacted? Data from CoinMarketCap shows that TRUMP has reacted positively to the upcoming dinner over the last few days. The coin is up 7% daily and has surged more than 23% in the past week. It was trading around $15.4 at the time of writing. Despite this surge, the meme coin is still down 80% from its all-time high of $75 recorded on January 19. Meanwhile, Trump’s meme coin gala dinner has drawn criticism from many people, with some individuals addressing his crypto businesses as corrupt. A group of people, led by Robert Weissman of the nonprofit group Public Citizen and U.S. Senator Jeff Merkley, are organizing a protest outside the golf club. The post Donald Trump to Dine With His Meme Coin Holders Today – Here’s What to Expect appeared first on CryptoPotato .

2025-05-22 15:33

Bitcoin (BTC) surged past $111,000 for the first time on Thursday, marking a historic all-time high. The rally is being driven by strong capital inflows, particularly from institutional investors. Despite concerns of a pullback, new data suggest that the Bitcoin market is still in a healthy upward phase. Market Calm as Bitcoin Soars According to a report by CryptoQuant, the funding rate, which is commonly used to gauge speculative pressure, shows a recent uptick in long positions, but the scale remains modest when compared to previous market tops. Similarly, data on coins traded within a 1-week to 1-month timeframe, which is often used to assess short-term capital inflows, indicates that current inflows are relatively subdued, especially when measured against the rapid influxes seen during earlier bull runs. Notably, short-term holders have shown little inclination to take profits amid the recent rally. In contrast to the heavy profit-taking that triggered a correction in March 2024 and again in November 2024, current selling pressure remains limited, even among large whale accounts. Additionally, Bitcoin holdings in US-listed spot ETFs have also reached record highs, reflecting strong demand from investors. Overall, CryptoQuant believes that the current rally is being driven by sustainable factors as overheating signals remain relatively muted. Institutions Take the Lead Bitcoin’s latest ATH appears to be structurally different from past retail-driven rallies, according to experts. In a statement to CryptoPotato , Kushal Manupati, Binance’s Regional Growth & Ops Lead of South Asia, also echoed a similar sentiment. “Bitcoin has surged past the $111,000 mark, setting a new all-time high and reinforcing its position as the bellwether of the virtual digital assets revolution. This exponential rally is the result of increasing institutional participation, maturing global regulations, and growing mainstream recognition of Bitcoin as a legitimate store of value. From a technological curiosity to a globally held asset, Bitcoin’s rise has been powered by transparency.” Instead of speculative hype, the current uptrend is fueled by disciplined institutional accumulation, Santiment said in its update , while highlighting six consecutive days of ETF inflows and reduced retail FOMO as signs of a maturing market. The standout performer is BlackRock’s spot ETF, IBIT, which now holds over 636,000 BTC, which, interestingly, happens to be more than the next 14 U.S. spot ETFs combined. Institutional giants like Mubadala and Citadel are increasing exposure through IBIT. Meanwhile, corporate buyers like MicroStrategy and Metaplanet continued to ramp up their BTC holdings with more purchases. With Bitcoin gaining over 25% in the past 30 days and nearly 60% year-over-year, Santiment expects the rally could extend to $115K-$120K. Meanwhile, the low retail interest may be contributing to the rally’s stability, creating a clear runway for institutional capital to lead the charge. The post Bitcoin Rally Is Still Healthy Despite New ATH: On-Chain Data appeared first on CryptoPotato .

2025-05-22 15:14

The world’s biggest football organization, FIFA, has picked Avalanche to launch its own blockchain initiative. Dubbed FIFA Blockchain, it will operate as a Layer-1 network and will deliver digital collectibles and “next-generation fan engagement at a global scale.” The official announcement , which went live earlier today, added that FIFA Blockchain will aim to streamline operations, optimize user experience, and deliver consistent, interoperable digital products to its fan base of billions of people. The organization has decided to use blockchain to satisfy the growing needs for verifiable digital ownership and direct engagement between holders and audiences. Unlike traditional systems, blockchain will allow the creators to create purpose-built networks that can “scale efficiently and support meaningful user experiences.” FIFA decided to tap Avalanche in its blockchain endeavor due to its structure that enables the “deployment of sovereign networks, known as L1s, that are optimized for high throughput, low latency, and full governance control.” They operate independently but are fully interoperable with the entire Avalanche ecosystem as well as the Ethereum Virtual Machine (EVM) standard. FIFA Blockchain will be led by a tech company with Web3 experience called Modex. Its CEO, Francesco Abbate, said the move enhances their ability to deliver unique digital collectibles and immersive fan experiences, powered by the speed, scalability, and EVM compatibility. “FIFA’s selection of Avalanche technology represents a pivotal moment in the evolution of blockchain infrastructure. As one of the world’s most recognized organizations, FIFA’s move underscores Avalanche’s unique ability to support custom, high-performance networks at global scale,” reads the statement. AVAX’s price reacted to the news as it’s up by over 10% on a daily scale, some of which could of course be liked to the overall market-wide price pumps. The post AVAX Soars 10% as Avalanche Will Power FIFA’s Blockchain Project appeared first on CryptoPotato .

2025-05-22 13:27

Bitcoin (BTC) has entered uncharted territory, smashing through its previous all-time high (ATH) to near $112,000 on May 22. While casual observers may chalk up this rally to the typical retail-fueled frenzies of past bull runs, analysts at Santiment are saying BTC’s current climb is being shaped by disciplined accumulation from institutional whales, and it may be just the beginning. The experts are projecting a near-term target of $115,000 to $120,000 as the number one cryptocurrency transforms from a speculative asset to a cornerstone of institutional portfolios. Institutional Tsunami Reshaping Bitcoin’s Market Structure On May 21, with BTC at around $109,500, Santiment noted that the cryptocurrency’s surge past its previous ATH of $109,241, set on the day Donald Trump was inaugurated as U.S. president, came amid surprisingly low FOMO among retail traders. Ironically, this lack of retail hype may have cleared the runway for institutional capital to steadily push prices higher without the volatility often seen in retail-driven runs. “One of the key drivers behind Bitcoin’s ascent has been a growing wave of institutional investments,” wrote Santiment, highlighting how easing macro tensions and six straight days of inflows into exchange-traded funds (ETFs) helped push BTC to a record high. At the center of this institutional frenzy is BlackRock’s spot Bitcoin ETF, IBIT. As of May 22, it holds 636,120 BTC, 2,000 more than the combined holdings of the next 14 biggest U.S. spot ETFs . The fund has become the preferred vehicle for heavyweight investors, with recent SEC filings showing that Abu Dhabi’s sovereign wealth fund Mubadala and hedge fund Citadel have significantly expanded their stakes. However, this meteoric rise also poses questions about long-term market structure, with an analysis by CryptoQuant showing that IBIT’s size is creating a monopoly-like concentration that could squeeze out smaller issuers. Meanwhile, corporate accumulators like Michael Saylor’s Strategy and Japan’s Metaplanet are still buying aggressively, with the two firms recently splashing $764 million and $104 million respectively to stack up their holdings. Clear Runway to $120K Technically, Bitcoin is now deep in price discovery mode . Over the past 30 days, it has gained 25.5%, and is up 58.7% year-over-year. With its price hovering around $110,915 at the time of writing, the asset has pumped more than 47% since its April 7 crash to $75,000. According to Santiment, the growing presence of the flagship crypto asset in traditional financial frameworks is changing its perception and giving it new status as a mainstream store of value. In their estimation, investor sentiment and market dynamics could soon push BTC to fresh highs. “Depending on the crowd’s own greed, we could see $115K-$120k in the near future,” the platform tweeted. Additionally, market watchers think that with search interest and social chatter about Bitcoin at bear market lows, the divergence between price action and public enthusiasm could make the cryptocurrency’s current rally more sustainable than those before, especially with institutional whales in control. The post Bitcoin Eyes $120K: Spot ETFs and Institutional Inflows Are Reshaping BTC’s Trajectory appeared first on CryptoPotato .

2025-05-22 13:26

Bitcoin’s price finally broke the January all-time high and set a new record earlier today of almost $112,000 as its market cap flew past the $2.2 trillion line. Many altcoins have posted even more impressive gains over the past day, led by HYPE’s meteoric rise beyond $30. BTC’s New ATH BTC broke above $100,000 on May 8 and has maintained within a six-digit price territory ever since. In the following weeks, it remained in a relatively tight range between $103,000 and $105,000 aside from a few false breakout attempts to either side. The past weekend saw another surge toward the upper boundary, which was initially stopped by the bears. More volatility ensued as the business week progressed. In short, BTC pumped to $107,000 on a couple of occasions, but each rejection pushed it south by several grand. That was until yesterday, when the bulls took complete control of the market, pushed beyond that resistance, and finally helped the primary cryptocurrency break its January all-time high of around $109,100 and set a new one at almost $110,000. At first, bitcoin was driven south again, to almost $106,000, but the situation reversed during the Monday morning Asian trading session when it flew to nearly $112,000 to set a fresh record. BTCUSD. Source: TradingView Despite dropping to $110,500 at this point, its market cap has risen to around $2 billion, which makes bitcoin the fifth-largest asset by that metric. It’s above giants like Amazon and Alphabet (Google) but trails behind Apple and gold, which is the undisputed leader. Total Assets by Market Cap. Source: CompaniesMarketCap HYPE Rises The altcoins have turned green as well today, with ETH surging by 5% and climbing above $2,650. XRP is up by 3.8% and sits well above $2.4, while BNB has jumped past $680 after a 5% daily pump. Even more impressive gains come from the likes of SOL, DOGE, ADA, SUI, LINK, AVAX, and SHIB. However, the day belongs to HYPE, which has skyrocketed by 19% and now trades above $31. With most other lower- and mid-cap alts well in the green, the total crypto market cap has soared by over $120 billion and sits beyond $3.6 trillion on CG now. Cryptocurrency Market Overview. Source: QuantifyCrypto The post HYPE Explodes by 20%, Bitcoin Now Bigger Than Amazon, Google (Market Watch) appeared first on CryptoPotato .

2025-05-22 12:02

As the United States economy navigates the effects of President Donald Trump’s tariff policies, Rich Dad Poor Dad author Robert Kiyosaki has once again reaffirmed his support for Bitcoin. This time, the finance guru insists that “the party is over” and “the end is here.” In a tweet addressing the latest developments in the U.S. bond market, Kiyosaki affirmed that millions of Americans are about to be wiped out financially. However, those who hold bitcoin (BTC), gold, and silver will be safe. The End is Here: Kiyosaki The Rich Dad Poor Dad author claimed that no one showed up for the Federal Reserve’s auction of U.S. bonds on May 20, so the Fed bought $50 billion of the bonds itself. He called both the bonds and the U.S. dollar fake money. Despite Kiyosaki’s claims that no one showed up to the auction, data from TreasuryDirect shows that the Fed recorded over $69 billion in bids for its 42-day bills with a bid-to-cover ratio of 2.97. Regardless of the bond auction outcome, Kiyosaki’s message remains the same: buy bitcoin because the U.S. economy is collapsing. He claims the dollar is hyperinflated, and the end he has warned about is here. While the dollar faces the risk of collapsing, Kiyosaki believes the value of gold could surge to $25,000, while silver could touch $70. On the other hand, BTC could be worth between $500,000 and $1 million. At the time of writing, gold was worth $3,300, silver was trading at $33, and BTC shot up to a new all-time high today of over $111,000. Moody’s Downgrades U.S. Debt Kiyosaki’s latest doom forecast comes as the credit rating agency Moody’s downgrades U.S. debt from Aaa to Aa1. Aaa is the highest rating possible, while Aa1 is one notch down the scale. The agency cited a sharp rise in U.S. federal debt over the past decade due to a continuous fiscal deficit. According to Moody’s, federal spending has risen while tax cuts have declined, significantly increasing interest payments on government debt. This comes as successive U.S. administrations and Congress fail to implement measures to reverse the trend of annual fiscal deficits. Reacting to the downgrade of U.S. debt, Kiyosaki recommended that more people become entrepreneurs and invest in real estate as “America is in serious trouble.” Most importantly, saving in BTC and precious metals. The post The End Is Here: Robert Kiyosaki Sees US Collapse, Predicts Bitcoin Explosion to $1M appeared first on CryptoPotato .

2025-05-22 10:24

TL;DR Do you remember the Bitcoin Lamborghini meme, whose story began well over a decade ago? Well, now you can buy Lambos with just a single BTC instead of the 200+ spent in 2013. At least one community member remembers who found a pretty good one for sale in the US. The Lambo-Bitcoin Story The story goes back to late 2013 when an anonymous buyer went to the Lamborghini Newport Beach auto dealership, believed to be the first accepting bitcoin for payments, and purchased a brand new Gallardo (model 2014) that had an USD value of $208,315 for 216.8433 BTC. Lambo Purchase Order According to marketing director Cedric Davy, the buyer most likely made the transaction public, which was “a little surprise to us,” but led to a growing number of customers who wanted to buy cars using bitcoin. The story became the embodiment of the bitcoin dream where investors, usually early adopters, purchased the asset, employed the HODL strategy for a few years, and capitalized on the enormous gains when BTC’s price went parabolic from under $1 to over $1,000. It also became one of the most significant and used memes in the crypto community – W(h)en Lambo. How Much for a Lambo? Now, let’s fast-forward to today to see what’s available in the market. A quick search on Lamborghini Newport Beach’s website shows that the starting price of a Lamborghini Huracan (the replacement of the Gallardo used in 2013/2014) is $249,865. That’s obviously the cheapest (most basic) version, while the range-topping STO starts from $344,778. With bitcoin trading above $110,000 as it charted a new all-time high today, it’s more than evident that you don’t have to spend 216.8433 to buy a new one, as you can actually purchase an entire dealership for that amount ($24 million). However, you can’t buy a brand new Huracan (the entry-level Lambo) for just one bitcoin. Instead, you might need to go back to basics and review the used car market. Your Friend Andy did so and posted a used 2006 Gallardo that has done less than 17,000 miles and currently costs only one bitcoin. That’s coming a long way from the 216.8433 spent in the original transaction. All is right in the world. We’ve reached used Lamborghini price parity with Bitcoin again. pic.twitter.com/iGiCiyMWzQ — Your Friend Andy (@OhHaiAndy) May 22, 2025 The most popular US cars website shows that there are many Gallardos you can buy if you are willing to spend your one bitcoin. In fact, there are certain options that cost around 0.85 BTC, which means that you might have some BTC left to buy new tires or change the oil. It can be easier to pay with bitcoin for those transactions today than it was 12 years ago. The post When Lambo? Here’s What Just 1 Bitcoin Can Buy You Today appeared first on CryptoPotato .

2025-05-22 09:30