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Ethereum (ETH) Price Prediction for May 21

by admin May 21, 2025

The crypto market remains mainly bullish today, according to CoinStats.

ETH chart by CoinStats

ETH/USD

The price of Ethereum (ETH) has gone up by 2.43% over the last day.

Image by TradingView

On the hourly chart, the rate of ETH is closer to the support than to the resistance. If bulls cannot seize the initiative soon, traders may expect a level breakout, followed by a further correction to the $2,500 zone.

Image by TradingView

On the bigger time frame, the price of the main altcoin is in the middle of the wide channel, between the support of $2,317 and the resistance of $2,738.

One of the Best Presales of 2025 Ends in 26 Days; Solaxy Raises $38M

by admin May 21, 2025

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Solaxy ($SOLX), one of the best presales of 2025, is set to end in 26 days. It’s had an impressive run, having already raised over $38M since its start. With over $500K pouring in after the deadline announcement yesterday, investors are racing to grab $SOLX at its current presale price of $0.00173 before it lists on exchanges.

The project is set to revolutionize Solana by tackling the main issues that plague the ecosystem: slow and failed transactions, downtime during peak times, and high fees.

The upgrade couldn’t come at a better time. Solana’s ecosystem is booming – its total value locked (TVL) has hit $9.1B, outstripping Ethereum’s top Layer-2s like Arbitrum and Optimism. Staking also highlights confidence in Solana, with $65B $SOL staked. However, while Solana grows, so do its challenges, and Solaxy is here to fix them.

$SOLX is both one of the most promising meme coins and a utility-imbued token that allows for high-speed and low-cost transactions within Solana’s ecosystem. It’s perfectly timed for a buzzing market – Solana-based tokens like $WIF (138%) and $BONK (63%) have soared in the last month.

What Solaxy Aims to Achieve

According to the whitepaper, Solaxy ($SOLX) is the next evolution of Solana – its first Layer-2 – implementing several innovative technologies to enhance scalability:

Roll-Up protocol: Reduces network congestion by bundling transactions to speed up the on-chain validation process.
Modular infrastructure: Offers developers flexibility with plug-and-play tools for custom dApps, ideal for gaming, DeFi, and meme coin platforms.
Off-chain processing: Allows for infinite scalability and faster transactions without compromising Solana’s functionality or security.

Long-term, Solaxy showcases clear potential applications, especially for high-frequency dApps like gaming ecosystems – Solana already captures 50% of gaming fees with 1M daily active users in Q1 12025 – meme coin platforms like Pump.fun.

Its cross-chain bridge with Ethereum even further boosts its interoperability and skyrockets its versatility.

Is Solaxy One of the Best Presales of 2025?

As of right now, Solaxy is clearly one of the best presales and one of the most promising new crypto projects, and the stats speak for themselves:

$38.7M raised since its start with a token price of $0.00173
A token pool of 138B, 11B staked, with a dynamic APY of 104%
4,377 $SOLX per $ETH as rewards
A clear roadmap with several milestones and constant upgrades

The tokenomics distribution is fair, designed to fuel the ecosystem in the charts post-launch:

Treasury: 20% (27.6B)
Development: 30% (41.41B)
Marketing: 15% (20.7B)
Rewards: 25% (34.51B)
Exchange liquidity: 10% (13.8B)

More importantly, the devs work on updating and polishing the project constantly, posting regular updates with the newly-implemented features like the Testnet Bridge for smoother and faster transactions.

Then there’s the Igniter Protocol (announced May 19), a no-code token launchpad for holders of $SOLX to create their own tokens, fueling the ecosystem’s decentralized economy.

It’s Not Too Late to Join The Solaxy Presale

These are the latest in a long series of updates that keep pushing Solaxy to new heights as the launch day approaches. Even though the presale is nearing its end, you can still join to reap the benefits, as our analysts believe that the token will rally in the long run.

According to our official Solaxy 2025–2030 price prediction, we expect $SOLX to reach a $0.2 price point by the end of 2026. This translates to a wealth-producing percentage boom of over 12,400%. Short-term, $SOLX should experience a solid 2025 run, as our analysts envision a 3,100% growth by this year’s end.

Check our ‘how to buy $SOLX’ guide today if you like what you’ve read and don’t want to miss out.

Remember, this isn’t financial advice. You should always DYOR (do your own research) before investing in any crypto project, no matter how promising.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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May 21, 2025 0 comments

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Iowa Court Rules in Favor of Bitcoin ATM Operator in Scammed Money Case

by admin May 21, 2025

In brief

The Iowa Supreme Court has ruled in favor of Bitcoin ATM operator Bitcoin Depot.
The court ruled that money paid into a Bitcoin Depot ATM as part of separate scams in 2023 and 2024 must be returned to the company.
The decision reversed a lower court ruling that the seized cash should be returned to the scam victims.

The Iowa Supreme Court has ruled that money paid into a Bitcoin Depot ATM as part of separate scams must be returned to the company, and not to the victims, reversing a lower court ruling.

The two scams happened in July 2023 and February 2024, when the corresponding victims were separately contacted by scammers and coerced into transferring Bitcoin worth $14,000 via a Bitcoin Depot ATM in Linn County.

Police had seized the deposited cash as part of their investigations but were unable to retrieve the transferred BTC.

A district court had ruled that the seized cash, totalling $28,000, should be returned to the victims, prompting Bitcoin Depot to appeal to the Iowa Supreme Court.

According to the ruling from Justice Dana Oxley, the victims entered into a contract with Bitcoin Depot ATM, which warned the victims about potential scams prior to the transfer of the purchased BTC.

The victims had specified that they owned the wallets to which they were sending BTC, since this is the only way of completing a transfer using Bitcoin Depot ATMs.

However, one victim, Carrie Carlson, argued that the contract she’d entered into with Bitcoin Depot should be voided, since she was acting under duress.

But the Iowa Supreme court ruled that the company had no way of knowing that Carlson and the other victim were acting under duress, with Judge Oxley rejecting Carlson’s arguments that the warning shown by Bitcoin Depot was evidence of prior knowledge.

“Here, the fact that Bitcoin Depot recognized risks in its industry and the use of its ATMs and then warned its customers—to the point of barring a transaction unless the user certifies that the wallet is their own—does not make it liable for every improper transaction,” she wrote.

The court has therefore ruled to “remand the case with instructions to return the seized funds to Bitcoin Depot,” leaving the victims out of pocket.

Bitcoin Depot told Decrypt that the decision supports the importance of due process and reinforces the role crypto operators can play in preventing and addressing fraud.

“Bitcoin Depot respects the Iowa Supreme Court’s decision and views it as a positive step toward clarifying the legal framework surrounding crypto transactions and affirming the importance of working with compliant, transparent operators like Bitcoin Depot,” the spokesperson said.

The company is separately embroiled in a larger legal battle in Iowa, after Attorney General Brenna Bird sued the company and fellow ATM provider CoinFlip in February.

According to the allegations, Iowans have lost around $20.4 million as a result of sending funds via Bitcoin Depot and CoinFlip.

The Attorney General’s office says that scams account for 98.16% of the money Iowans have sent via Bitcoin Depot since October 2023, when it began an investigation into cryptocurrency ATM firms (the corresponding percentage for CoinFlip is 94.92%).

Bird also alleges that Bitcoin Depot and CoinFlip take cuts of 23% and 21% of all cryptocurrency transactions sent via their respective ATMs, and that Bitcoin Depot is misleading about the terms of its refund policy.

“We already know that [fraudsters] target older Iowans, but now it seems that they even hunt through obituaries to target widows […] And the crypto ATM companies take a cut of the profits,” said Bird.

Decrypt has contacted CoinFlip for comment.

Bitcoin Depot told Decrypt that it has already implemented several layers of protection, including ID verification, transaction monitoring, live support and automated scam warnings.

“Our dedicated law enforcement liaison team, staffed by former law enforcement, works closely with agencies across the country,” said the spokesperson. “We regularly assist investigators using our blockchain analytics to trace transactions, recover stolen funds, and help solve active cases, and we’ll continue supporting and assisting law enforcement wherever possible.”

Edited by James Rubin, and his team will be discussing internally around that as well. So you’re very excited to like, stay abreast of how things progress as they build out the product suite itself. I think they’ve chosen a pretty difficult area to build towards, in the sense of like, out like automating and creating access to like algorithmic trading strategies is hard.

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May 21, 2025 0 comments

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VanEck’s new fund targets real-world utility in Avalanche ecosystem

by admin May 21, 2025

Asset manager VanEck is launching a long-term digital assets fund focused on Avalanche to back real businesses over hype-driven tokens.

VanEck said Tuesday it will launch the PurposeBuilt Fund in June to invest in tokenized businesses building on Avalanche (AVAX) and focused on long-term value and utility.

In a press release shared with crypto.news, the New York-headquartered asset manager said the fund will back liquid tokens and venture-backed crypto projects in sectors such as gaming, payments, AI, and financial services — primarily around or after a token generation event. The fund will also deploy idle capital on-chain through Avalanche-native real-world asset products, such as tokenized money market funds.

Pranav Kanade, portfolio manager of the VanEck Digital Assets Alpha Fund, said the fund won’t chase hype or short-term trends, as the next wave of value in “crypto will come from real businesses, not more infrastructure.”

“Avalanche has become a magnet for thoughtful builders, and with the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to the founders creating lasting value, not chasing momentum.”

Pranav Kanade

The new vehicle will be managed by the team behind the VanEck Digital Assets Alpha Fund, which has over $100 million in assets under management and launched in 2022.

The announcement comes amid growing institutional interest in Avalanche, with Grayscale recently filing to convert its Avalanche Trust, launched in August 2024, into a spot exchange-traded fund. In late March, the firm submitted a 19b-4 filing to Nasdaq to list the fund and offer regulated exposure to AVAX, though it still requires SEC approval.

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May 21, 2025 0 comments

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Only 473 Million XRP in 24 Hours: This Is Not Good

by admin May 21, 2025

XRP’s price action and on-chain activity are sending conflicting signals, and none of them are particularly bullish. Over the last 24 hours, only 473 million XRP were moved between accounts, according to payment volume metrics, a notable drop from the recent high of 640 million just days ago. This decline in transactional volume could indicate waning momentum and growing market hesitation around Ripple’s native asset.

From a technical perspective, XRP is currently flirting with the 26 EMA, a key support level that often acts as the final threshold before momentum reversals become more serious. A decisive close below this EMA would likely trigger further downside toward the 50 EMA and possibly even the 100 EMA, currently around the $2.20 and $2.05 levels, respectively.

XRP/USDT Chart by TradingView

Volume on the price chart is also tapering off, which means that the recent moves upward are not supported by a strong market base. This makes the asset particularly vulnerable to sharp corrections or a prolonged sideways drift. The daily RSI has dropped from overbought territory and now hovers near the midline, showing indecision among traders.

Bitcoin Breakout Imminent? Binance Taker Activity Suggests Bullish Continuation

by admin May 21, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) may still have room to run, as recent Binance taker data points to another short-term bullish setup for the leading cryptocurrency. Notably, BTC has surged 23.8% over the past month and is currently trading about 4% below its all-time high (ATH).

Another Bitcoin Breakout On The Horizon?

In a recent CryptoQuant Quicktake post, analyst Crazzyblockk suggested that Bitcoin could be poised for another rally based on the custom Binance Taker Buy-Sell Ratio Momentum Signal. The analyst shared multiple indicators that suggest BTC may soon break through its previous ATH.

Source: CryptoQuant

The first key insight is that both weekly and monthly buy-side taker volumes have seen a significant uptick. This spike signals aggressive buying behavior from market participants willing to execute trades at market price, often a strong sign of growing demand.

Related Reading: Bitcoin Poised For $120,000 Rally As Wyckoff Accumulation Hits Final Phase, Analyst Says

For the uninitiated, the buy-sell taker volume refers to the amount of BTC bought or sold by takers – traders who place market orders that are immediately matched with existing limit orders. A higher buy-side taker volume indicates aggressive buying behavior, often signaling bullish market sentiment.

Another critical metric is Bitcoin’s 30-day Z-score, which is currently hovering around 1. This indicates neutral market behavior – well below the overheated threshold of 3 – suggesting that buyer dominance is sustainable and not yet stretched thin.

To explain, Bitcoin’s 30-day Z-score measures how far the current value of a metric – like trading volume or price – deviates from its 30-day average, in terms of standard deviations. A Z-score around 0–1 indicates neutral or typical activity, while values above 3 suggest an overheated or extreme market condition.

The analyst also pointed out that BTC’s weekly price volatility is at its lowest in months. Historically, such low-volatility periods tend to precede significant price movements. Given the current buy-side dominance, the likely breakout direction appears to be upward.

Finally, Crazzyblockk stated that the intraday taker buy-sell imbalance is currently favoring buyers. The CryptoQuant contributor added:

Despite total volume being matched between bids and asks, aggressive taker behavior is skewed toward buys, signaling a clear dominance in execution intent. This imbalance is key for short-term momentum.

In summary, taker behavior data on Binance clearly shows bulls are in control. As long as this pattern holds, a short-term upside continuation remains the most probable scenario.

Analysts Share BTC Targets

As Bitcoin inches closer to its January ATH of $108,786, crypto analysts are weighing in with new cycle targets. For instance, Ali Martinez recently identified $116,900 as the next major resistance zone for BTC.

Meanwhile, on-chain analyst Burak Kesmeci believes BTC could rally as high as $159,000 in this ongoing bull cycle. At press time, BTC is trading at $104,611, up 1.1% over the past 24 hours.

BTC trades at $104,611 on the daily chart | Source: BTCUSDT on TradingView.com

Featured Image from Unsplash.com, charts from CryptoQuant and TradingView.com

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May 21, 2025 0 comments

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Texas House Advances Bitcoin Reserve Bill With Bipartisan Backing

by admin May 21, 2025

In brief

The Texas House passed Senate Bill 21 on second reading with a 105-23 vote, advancing it to third reading.
An amendment adopted Tuesday requires eligible cryptocurrencies to maintain a $500 billion market cap over 24 months.
If enacted, Texas could become the second U.S. state to establish a government-managed Bitcoin reserve, after New Hampshire.

The Texas House of Representatives voted Tuesday to approve Senate Bill 21, its state Bitcoin reserve bill, pushing it past a critical legislative hurdle.

The House began by adopting an amendment from Representative Linda Garcia (D-TX) that doubled the required market capitalization period from 12 to 24 months.

Buoyed by strong bipartisan support, the House passed the Senate Bill 21 with a 105-23 vote, advancing it to a third reading.

The bill is a “forward-thinking measure” that would help recognize digital assets “not as a trend but as a strategic opportunity” key to “strengthening the state’s fiscal resilience,” Giovanni Capriglione (R-TX), its House sponsor, said before the final vote.

Officially dubbed the Texas Strategic Bitcoin Reserve and Investment Act, the bill establishes a framework for the state comptroller to maintain and manage crypto holdings as a “special fund outside the state treasury.”

Initial discussions and proposals for it were first floated in December last year under H.B. 1598.

Under the proposed legislation, the reserve can hold Bitcoin and potentially other cryptos as “a hedge against inflation and economic volatility,” according to the bill text’s House committee version.

The comptroller also needs to submit a report every two years to the legislature on crypto holdings, their value, and any changes during that time. An advisory committee, including crypto investment experts, will guide the comptroller on reserve management.

Progress on Texas’s Bitcoin reserve bill comes roughly two years since the Lone Star state established itself as a major crypto mining hub, consistently ranking as a top choice for crypto mining firms across the U.S.

Still, the bill requires passage on third reading in the House.

Since it was amended, any differences between the House and Senate versions would need to be reconciled before final approval by both chambers.

Only then would it head to the governor’s desk, potentially establishing America’s second state-managed Bitcoin reserve after New Hampshire earlier this month.

The state of Arizona would have followed, but its governor nixed its Bitcoin bill, with only a companion bill for unclaimed crypto being passed two days later.

Edited by Sebastian Sinclair

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May 21, 2025 0 comments

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Theta Capital bags $175m to back Coinfund, Polychain and other crypto VCs

by admin May 21, 2025

Dutch investment firm Theta Capital closed a $175 million raise to back crypto-specialist VCs through its latest fund-of-funds.

Theta Capital Management has pulled in over $175 million for a new fund-of-funds designed to help institutional investors get exposure to early-stage blockchain startups by backing some of the industry’s top crypto venture firms.

The new fund, dubbed Theta Blockchain Ventures IV, will invest in venture capital firms that specialize in crypto, Bloomberg has learned, referring to Ruud Smets, the company’s managing partner and chief investment officer.

Founded in 2001, the Netherlands-based firm began focusing on cryptocurrencies in 2018 and now manages around $1.2 billion in assets. Theta has previously backed firms like Coinfund, Polychain Capital, and Castle Island Ventures. It’s still unclear though how Theta plans to allocate the newly raised capital.

The raise comes as crypto venture capital activity shows signs of recovery. According to a May 14 report by PitchBook, VC deal value in Q1 rose to $6 billion, more than double the $2.6 billion seen a year ago. However, the number of deals fell to 405 from 670 over the same period.

PitchBook’s senior crypto analyst Robert Le said the $1.4 billion Bybit theft, which he described as the first and only “10-digit hack in history,” served as a stark reminder of the operational risks still present in the industry.

He suggested the incident could drive greater institutional demand for real-time proof-of-reserve tools, improved custody systems, and middleware that simplifies key management. Le also said startups working on these areas might find a more favorable funding environment, even amid a broader reset in valuations.

Despite Bitcoin hitting a record high of $100,000 in Q4 2024, venture capital activity in crypto startups remained flat, with VC deal size down nearly 90% since 2018.

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May 21, 2025 0 comments

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Bitcoin’s Ascent Inevitable, Says Anthony Pompliano

by admin May 21, 2025

Popular crypto veteran Anthony Pompliano has finally discovered the secret behind Bitcoin’s continuous ascent after several years of holding Bitcoin, according to a recent post on X (formerly Twitter).

With the broad crypto market facing consistent volatility, especially Bitcoin, Pompliano claims that expansionary monetary policies are the major drive behind Bitcoin’s future potential.

Bitcoin predictions irrelevant

With his experience as a long-term Bitcoin holder, Pompliano has realized that market speculations are not the key driver behind Bitcoin’s growth. He believes that Bitcoin will continue to surge as long as the government continues printing money.

After years of holding bitcoin, you realize that all the price predictions don’t matter.

Bitcoin is going to keep going up until the governments stop printing money.

— Anthony Pompliano 🌪 (@APompliano) May 20, 2025

According to Pompliano’s post, Bitcoin predictions from market experts are often irrelevant in determining the future of the world’s leading cryptocurrency.

While these speculations may temporarily fuel hype around the digital asset, leading to short-term rallies, they cannot influence Bitcoin’s long-term vitality.

The statement, which reaffirms Pompliano’s longstanding conviction in Bitcoin, has sparked discussions among the crypto community.

Cardano Kicks Off Independent Audit Of ADA Redemption

by admin May 21, 2025

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A third-party forensic review of the long-running Cardano (ADA) voucher redemption programme is finally in motion after Input Output Global (IOG) confirmed that the global law firm McDermott Will & Emery (MW&E) and the audit heavyweight BDO have been retained to “audit and prepare a public report of the ADA redemption,” according to IOG’s chief legal and policy officer Joel Telpner.

The engagement seeks to neutralise weeks of controversy over allegations that hundreds of millions of unclaimed ADA were quietly diverted during a 2021 ledger event and to provide a definitive historical ledger of every presale token, its status and its current location.

Cardano Engages Firms To Audit Unclaimed ADA Vouchers

Emurgo, one of the three founding entities of Cardano, welcomed the move and urged the community to “await the independent audit results,” insisting that only a tiny fraction of presale vouchers remain outstanding after a seven-year search that even involved door-to-door visits in Japan.

In his post on X, Telpner wrote that MW&E, “a global law firm with more than 1,400 lawyers and 24 locations,” and BDO, “a global accounting and audit firm with worldwide locations,” would begin work immediately and have been instructed to deliver the report “as soon as humanly possible.” MW&E’s fintech and blockchain group has been ranked in Chambers FinTech for two consecutive years, reflecting deep regulatory and transactional expertise in digital assets.

BDO, for its part, advertises a dedicated digital-asset forensics practice that combines on-chain analytics with open-source intelligence to trace complex token flows. Telpner added that a specialist blockchain analytics firm will be added to the engagement once conflicts checks are complete.

Emurgo’s thread, posted less than 24 hours before Telpner’s announcement, stressed that “the vast majority of the pre-sale ADA vouchers have been successfully redeemed” and that the remaining unredeemed slice became technically unspendable after the Shelley hard fork, necessitating an on-chain move to preserve redemption rights. The company acknowledged community frustration but warned that some criticisms had crossed into “excessive, unwarranted FUD” that ignores the full context of the painstaking redemption effort.

The Cardano Foundation, which was not directly involved in post-2021 voucher operations, issued its own statement on May 19 noting that “the effort to locate and support remaining voucher holders has been led by the IO team over the past four years” and welcoming the coming audit.

Pressure for a comprehensive report intensified after NFT artist Masato Alexander published a thread on May 7 accusing IOG founder Charles Hoskinson of using “genesis keys” during the Allegra hard fork to reassign about 318 million ADA—worth roughly US $619 million at the time—from unredeemed presale wallets to treasury accounts via a Move Instantaneous Rewards (MIR) transaction in October 2021.

Hoskinson called the charge “false and misleading,” asserting that “IOG never gave itself 350 million unclaimed ADA. This is a lie,” and said the unredeemed remainder—less than 0.2 per cent of the crowdsale—was ultimately donated to Intersect, Cardano’s governance body. He also threatened legal action against those repeating the allegations.

No target publication date has been set; Telpner conceded that “as of today I honestly don’t know” when the final report will be ready, but stressed that both firms have been asked to “complete the audit and prepare and make the report available as soon as humanly possible.”

At press time, ADA traded at $0.727.

ADA fell below the key resistance zone again, 1-week chart | Source: ADAUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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May 21, 2025 0 comments