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24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $31.84 million liquidated (53.57% shorts) - ETH: $30.36 million liquidated (55.12% shorts) - TON: $29.35 million liquidated (97.74% shorts)

Global asset markets are shifting their focus from "TACO" (Trump Always Chicken Out) trading to "NACHO" (Not A Chance Hormuz Opens) trading, BlockBeats reported. The "NACHO" thesis is based on the following logic: - Insurers will not underwrite policies for ships passing through the Strait of Hormuz. - This effectively keeps the strait closed, driving up oil prices and, in turn, inflation. - Consequently, the U.S. Federal Reserve will be unable to cut interest rates. While high oil prices and interest rates are typically negative for asset markets, this shift suggests that investors now view the unresolved situation in Iran as a constant factor from which to profit. As confidence grows that the Strait of Hormuz will not reopen in the short term, capital is flowing into beneficiary assets such as energy stocks and big tech companies with strong cash reserves and AI momentum. According to eToro analyst Zavier Wong, the market appears to have decided against expecting an immediate solution to the Iran situation. He added that high oil prices have become a feature of the current market environment rather than a temporary shock.

U.S. spot Bitcoin ETFs saw net outflows of approximately $145.64 million (213.2 billion won) on May 8, according to Trader T. This marks the second consecutive day of net outflows. - BlackRock's IBIT: -$27.22 million - Fidelity's FBTC: -$97.60 million - Morgan Stanley's MSBT: +$5.74 million - Ark's ARKB: -$26.56 million

Chun Wang, founder of F2Pool, a major crypto mining pool with Chinese roots, has withdrawn 7,461 ETH ($17.27 million) from Binance, according to on-chain analyst ai_9684xtpa. The funds were subsequently deposited into the DeFi protocol Spark.

Aave (AAVE) has announced its follow-up measures in response to the recent rsETH hack. The plan includes: - Burning the hacker's liquidated rsETH position on Arbitrum - Mitigating the over-issued rsETH supply - Transferring the ETH that was frozen by the Arbitrum committee - Resuming withdrawals once the rsETH bridge is normalized - Normalizing the wETH loan-to-value (LTV) ratio Additionally, Aave stated that while awaiting a court decision on the frozen ETH, it plans to take out a separate loan to compensate users.

Fourteen protocols have either left LayerZero (ZRO) or suspended their bridging services over the past 48 hours, on-chain analyst Emperor Osmo reported on X. LayerZero was the cross-chain bridge exploited by a hacker in the recent Kelp DAO rsETH incident. Three protocols—KelpDAO, Solv Protocol (SOLV), and ReProtocol—have migrated to Chainlink CCIP as their new standard bridge infrastructure. Others, including Kamino (KMNO), Ethena (ENA), Euler (EUL), and Curve (CRV), have temporarily suspended their bridges. Meanwhile, Aave (AAVE), SparkLend, Fluid (FLUID), Pendle (PENDLE), and Compound (COMP) have frozen their markets. LayerZero previously apologized for the security incident and announced plans to change its validator settings.

CoinMarketCap's Altcoin Season Index is currently at 48, up five points from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins, against Bitcoin. An altcoin season is declared when 75% of these top coins outperform Bitcoin over the past 90 days, while the opposite is considered a Bitcoin season. A score closer to 100 indicates a stronger trend toward an altcoin season.

Coinbase announced it purchased an additional 1,103 BTC during the first quarter, increasing its total holdings to 16,492 BTC. The disclosure was made in an earnings report released after the U.S. stock market closed on May 7. In the previous quarter, the company had reported holding 15,389 BTC.

LayerZero (ZRO) has apologized for a past security incident and admitted to poor communication regarding the event. The project was the cross-chain bridge exploited by hackers in the Kelp DAO rsETH incident. Through its official X account, LayerZero explained that a sub-RPC of its Decentralized Verification Network (DVN) was attacked by the North Korean hacking group Lazarus, which corrupted data, while an external RPC provider was hit with a DDoS attack. The project stated that while the protocol itself was unaffected, operating the DVN in a single validator mode was a serious mistake. LayerZero announced it will discontinue the single validator setup and transition the protocol's default to a multi-validator system of at least 3:3. It added that it will perform a full upgrade of its security infrastructure by developing new clients and introducing a multi-signature system and an integrated console management platform.

BlackRock is planning to launch two new money market funds (MMFs) aimed at investors who hold cash in stablecoins rather than traditional bank accounts, Bloomberg reported. The new funds are named BRSRV and BSTBL, with BRSRV specifically targeting stablecoin holders. Share tokens for BRSRV will be issued on multiple chains, while BSTBL's will be issued on the Ethereum chain. The move aligns with previous statements from BlackRock CEO Larry Fink, who has emphasized that all financial assets will eventually be tokenized. BlackRock's BUIDL fund, launched in 2024, currently manages assets worth $2.5 billion.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the Cumulative Volume Delta (CVD). The Volume Heatmap tracks the scale of trading volume at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or moves significantly. Areas with brighter colors may act as potential support or resistance levels. The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. - Yellow line: Orders between $100 and $1,000 - Brown line: Large orders between $1 million and $10 million

The Crypto Fear & Greed Index from data provider CoinMarketCap is at 48, up one point from yesterday, holding in the neutral zone. The index indicates extreme fear as it approaches zero and extreme greed as it approaches 100. CoinMarketCap's index is calculated based on several factors, including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data such as put/call ratios, the Stablecoin Supply Ratio (SSR), and the platform's own search data.

Cryptocurrency influencer David Battaglia has compared MicroStrategy's (MSTR) preferred stock, STRC, to an insurance product, he said on X. Battaglia explained that MicroStrategy selling STRC is analogous to an insurance company selling an annuity. He noted that just as insurers collect premiums, or float, and invest the funds before claims arise, MicroStrategy raises capital in a similar fashion to purchase Bitcoin. He described MicroStrategy's stock as a vehicle for capitalizing on BTC's upside, which absorbs market capital from aggressive investors willing to pay a premium. Battaglia emphasized that the company's model is transparent and can be verified in real-time, dismissing those who label it a Ponzi scheme as mere "haters." MicroStrategy's STRC is designed to pay a variable monthly dividend targeting an 11.5% annual yield. The dividend rate decreases when the stock trades above its $100 par value and increases when it trades below. The instrument has recently functioned as a source of funding for the company's BTC purchases. MicroStrategy founder Michael Saylor also reposted Battaglia's thread.

Cryptocurrency wallet provider Exodus (EXOD) has launched XO Cash, a Solana-based stablecoin designed for autonomous payments by AI agents. The stablecoin is linked with the Visa payment network to support both online and offline transactions.

The U.S. Senate Banking Committee is scheduled to hold a markup session for the CLARITY Act at 2:30 p.m. UTC on May 14, CoinDesk reported. The bill, previously stalled by disagreements between the crypto and banking sectors over stablecoin interest, now moves forward following a compromise brokered by Senators Thom Tillis and Angela Alsobrooks. The agreement would preserve activity-based rewards, which are crucial for exchanges' stablecoin operations, while limiting interest based on deposit balances—a provision banks had warned could lead to deposit outflows. Although the banking industry has indicated that further amendments are needed, the committee's decision to schedule the markup suggests a determination to advance the legislation. Separately, some politicians are advocating for the inclusion of an ethics provision that would prohibit high-ranking public officials from profiting from the crypto industry. Following the markup, the CLARITY Act is expected to be merged with a bill from the Senate Agriculture Committee before proceeding to a full floor vote.

Lee Reiners, a law instructor at Duke University, has argued that the Trump family's DeFi project, World Liberty Financial (WLFI), constitutes an unregistered security because it creates an expectation of profit and is centrally operated. According to The Block, Reiners stated that while the project's backers claim WLFI is simply a governance token, it was sold to finance a cryptocurrency business. He argued that the issuer's creation of profit expectations through marketing and a white paper satisfies a core element of the Howey Test. Reiners also noted that recent lawsuits, such as one involving Tron (TRX) founder Justin Sun, have effectively shown that claims of decentralization are often a fiction. However, he questioned whether the current U.S. SEC would conduct a meaningful investigation.

Swiss banking giant UBS Group has purchased an additional 551,121 shares of MicroStrategy (MSTR) for $98 million, bringing its total holdings to 6.31 million shares valued at approximately $1.12 billion, Crypto Briefing reported. MicroStrategy currently holds 818,334 BTC, worth $66.3 billion, at an average purchase price of $75,535.24 per coin. The outlet noted that buying MicroStrategy stock can be viewed as an indirect investment in the cryptocurrency industry.

U.S. banks are attempting to revise a compromise on stablecoin interest payments ahead of the CLARITY Act's markup, according to Eleanor Terrett, host of Crypto in America. The initial agreement reportedly allowed for activity-based rewards, which are crucial for exchanges' stablecoin operations, while restricting interest based on deposit balances—a feature banks have flagged as a risk for deposit outflows. The banking industry has reportedly sent a letter to Senator Thom Tillis and others, arguing that the current compromise does not explicitly mention deposit interest, creating a potential loophole for the crypto industry. They have proposed adding more specific language to the bill. However, Terrett added that the Senate is not viewing this push as a major issue, as the focus of the CLARITY Act has already shifted to ethical concerns, such as conflicts of interest for high-ranking officials. She noted that the banks' effort to amend the stablecoin interest compromise is unlikely to proceed.

Bitcoin's recent price surge is a bear market rally, according to a report by CryptoQuant senior analyst Julio Moreno. The Block reports that while Bitcoin has climbed over 20% since early April to a three-month high, the rally is a composite result of previous undervaluation, easing macroeconomic pressures, and a spike in demand for perpetual futures. The report added that Bitcoin holders are starting to take profits amid the uptrend, but a correction could still take some time to materialize.

43.7% of the market capitalization of active Real-World Assets (RWAs) on Solana is being utilized as collateral in DeFi lending markets, compared to just 6.1% on Ethereum. According to DeFi analytics platform Sentora, formerly IntoTheBlock, this suggests that while Ethereum's RWAs remain relatively idle, Solana's are actively used as collateral in credit markets. Sentora noted that this indicates the two networks are not building their ecosystems in the same direction.

The three major U.S. stock indices closed higher today. - S&P 500: +0.84% - Nasdaq: +1.71% - Dow Jones: +0.02%

Whale Alert reported that 2,000 million USDT has been burned at the Tether Treasury.

Violent incidents targeting cryptocurrency holders, known as wrench attacks, are on the rise, according to Web3 security firm CertiK. The Block reported that 34 confirmed wrench attack cases have occurred globally in 2026, a 41% increase from the same period in 2025, with damages totaling approximately $101 million. If this trend continues, losses for 2026 are expected to reach hundreds of millions of dollars. Of the 34 reported attacks, 28 (82%) took place in Europe. CertiK noted that the incidence of these attacks is particularly high in Europe, especially France, attributing it to factors like a deeply rooted culture of ostentation and voluntary self-disclosure within the community. The firm also pointed out a recent increase in cases where family members of primary targets, such as spouses, children, or parents, are directly victimized or used as a means of pressure.

Bitwise CIO Matt Hougan predicted that the speculative use of Bitcoin will fall from 100% in 2009 to 0% by 2050, by which time all central banks will use it as a standard reserve asset. According to U.Today, he added that while people were saying Bitcoin was dead three months ago, they are now saying gold is dead, and hinted that fiat currency is what has actually died.

Digital BTC mining firm GoMining has launched GoBTC Pay, a protocol for Bitcoin payments, The Daily Hodl reported. The protocol is designed to allow consumers to process payments instantly on Bitcoin's base layer, aiming to make it more convenient to use and pay with the cryptocurrency in daily life.