Several Ethereum metrics suggest the ETH price could see further downside due to reduced demand and weakening network fundamentals.
BitMEX's utility token (BMEX) plummeted 90% to $0.002 after the exchange announced its decision to wind down operations. The closure follows a significant drop in BitMEX's Bitcoin futures market share and is seen as part of broader industry corrections.
Active use of tokenized real-world assets (RWA) in DeFi has recovered to $3.77 billion, nearing pre-exploit levels after an April 18 incident caused a $13 billion decline. The recovery, led by Ethereum, also sees significant growth on Solana, Monad, and Avalanche, but concerns about market concentration and cross-chain risk persist.
XRP's price recovery above $1.16 is supported by large holders accumulating tokens and reducing exchange deposits, while US spot XRP ETFs continue to attract fresh capital, signaling increased conviction and sustained demand.
Kazakhstan approved a new framework for large-scale crypto mining, linking electricity access to contributions to a state-backed digital asset reserve. Strategic miners must meet strict infrastructure requirements and transfer part of their mined crypto to Astana Hub.
AFX Trade, an Arbitrum-based perpetuals exchange, lost $24.15 million in a USDC bridge exploit. The protocol halted the bridge and offered the attacker a 30% white hat bounty for returning 70% of the funds, which were swapped for 12,468 ETH.
A debate rages over whether AI is causing a 'hackpocalypse' in DeFi. While April saw major crypto losses, some experts call it a false alarm, citing declining median hack sizes. Others warn AI is rapidly enhancing existing attack methods, making older contracts vulnerable and industrializing crypto crime, even if it hasn't replaced traditional security failures.
