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Bitcoin Open Interest Hits $74 Billion Amid Price Rally

by admin May 21, 2025

Institutions and macro trends drive activity
Bitcoin rebounds to $106,000 despite intraday dip

The Bitcoin futures market is showing strong signs of activity, with its open interest rising to $74 billion, according to Coinglass data. This jump indicates that an increasing number of traders are positioning themselves for possible price moves in the upward direction.

Their actions are proof of renewed confidence in the leading cryptocurrency. The latest surge to $74 billion, one of the biggest in the past few weeks, indicates strong hedging activity.

Institutions and macro trends drive activity

Among the factors driving this trend is the return of bullish sentiment after recent positive changes in the global macroeconomy, especially expectations of lower interest rates and cooling inflation.

With top financial firms expanding their crypto offerings, growing institutional interest is another factor that could be influencing this trend. Even though higher open interest doesn’t result in a price increase, it shows that more investors are pumping money into the Bitcoin futures markets.

However, a sharp rise in Bitcoin price could trigger massive liquidations and add volatility. Coinglass data also shows a strong relationship between BTC’s price and its open interest.

Bitcoin rebounds to $106,000 despite intraday dip

Current CoinMarketCap data shows that Bitcoin currently trades at $106,616, a rise of 1.11% in the last day. Earlier in the day, the crypto asset’s price dropped to about $104,000 as indicated by the red shaded area. But by midday, it rose back to above $106,000 before reaching its latest price.

Source: CoinMarketCap

Even though BTC’s trading volume is down 17.99% in the past 24 hours, it’s still $54.18 billion. Despite this volume decrease, the crypto asset’s daily volume to market cap ratio of 2.54% shows a relatively healthy liquidity.

The cryptocurrency’s profile score of 100% also suggests strong market sentiment, while the technicals indicate a continued bullish outlook among analysts and traders.

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May 21, 2025 0 comments

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79.89% Crash In 24 Hours: What’s Going On With The Shiba Inu Burn?

by admin May 21, 2025

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

In a rather unexpected turn of events, the Shiba Inu (SHIB) burn rate has plummeted by a staggering 79.89% in just 24 hours. Once considered the cornerstone of Shiba Inu’s deflationary strategy and a key driver behind the meme coin’s long-term value, this dramatic decline in token burns now sparks serious concerns about what’s behind the sharp drop and its impact on the meme coin’s future price.

Shiba Inu Burn Rate Suffers Dramatic Decline

Shiba Inu’s once-celebrated burn mechanism has recently hit a significant roadblock, with the burn rate crashing almost 80% in just a day. According to Shibburn, the on-chain analytics platform designed to track token burns within the Shiba Inu ecosystem, only 8,258,774 SHIB coins were eliminated in this period. This is a steep drop compared to over 49 million tokens incinerated just a day earlier.

The sudden drop in Shiba Inu’s burn rate comes as the meme coin’s price experiences a significant decline. Notably, Shiba Inu’s burn mechanism is a vital part of its tokenomics model. By sending coins to a dead wallet, SHIB tokens are permanently removed from its large circulating supply, which in turn helps increase scarcity and possibly drive up its price over time.

Unlike projects with protocol-level burn mechanisms, Shiba Inu’s burning process is mainly community-based. This means that the recent drop in burn rate could reflect a negative shift in market sentiment.

Source: Chart from Shibburn

This decline in market sentiment may also be attributed to Shiba Inu’s lacklustre price performance and failure to sustain a meaningful rally in recent months. At the time of writing, SHIB is trading lower alongside many altcoins, reflecting market uncertainty. According to CoinMarketCap, its price is sitting at $0.0000144, representing a sharp 39.8% decline from its yearly high.

Despite the community’s strong presence and analysts’ optimistic projections, sentiment around SHIB appears muted, with CoinCodex data highlighting indifference rather than enthusiasm. If the burn rate continues to decline, particularly after this 79.89% drop, it could erode confidence in the meme coin’s deflationary narrative and future price.

Currently, Shibburn data reports that the total number of SHIB tokens burnt since inception is over 410.7 trillion, leaving approximately 589.2 trillion remaining out of the original maximum supply of over 999.9 trillion.

SHIB Price Targets $0.000035

Despite low prices and burn rate crashes, analysts still view Shiba Inu in a bullish light. One of the latest price predictions by market expert ‘Crypto Catalysts’ on X (formerly Twitter) suggests that the Shiba Inu price could soon see a dramatic surge to $0.000035.

The analyst noted that SHIB is showing signs of strong upward momentum. According to the shared chart, SHIB has been forming a clear accumulation base between $0.000007 and $0.000014. This zone, which previously acted as a launchpad for the meme coin’s explosive rallies in 2021 and 2023, is once again highlighting strength as SHIB aims for a 147% increase to $0.000035.

SHIB trading at $0.000014 on the 1D chart | Source: SHIBUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

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May 21, 2025 0 comments

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Google Launches SynthID Detector to Catch Cheaters in the Act

by admin May 21, 2025

In brief

Google’s SynthID embeds traceable marks in all of Google’s AI tools.
The tool flags AI-generated image content using invisible watermarks across media.
It also helps helps identify AI-made text, and video as concerns over cheating grows.

With deepfakes, misinformation, and AI-assisted cheating spreading online and in classrooms, Google DeepMind unveiled SynthID Detector on Tuesday. This new tool scans images, audio, video, and text for invisible watermarks embedded by Google’s growing suite of AI models.

Designed to work across multiple formats in one place, SynthID Detector aims to bring greater transparency by identifying AI-generated content created by Google’s AI, including the audio AIs NotebookLM, Lyria, and image generator Imagen, and highlighting the portions most likely to be watermarked.

“For text, SynthID looks at which words are going to be generated next, and changes the probability for suitable word choices that wouldn’t affect the overall text quality and utility,” Google said in a demo presentation.

“If a passage contains more instances of preferred word choices, SynthID will detect that it’s watermarked,” it added.

SynthID adjusts the probability scores of word choices during text generation, embedding an invisible watermark that doesn’t affect the meaning or readability of the output. This watermark can later be used to identify content produced by Google’s Gemini app or web tools.

Google first introduced SynthID watermarking in August 2023 as a tool to detect AI-generated images. With the launch of SynthID Detector, Google expanded this functionality to include audio, video, and text.

Currently, SynthID Detector is available in limited release and has a waitlist for journalists, educators, designers, and researchers to try out the program.

As generative AI tools become more widespread, educators are finding it increasingly difficult to determine whether a student’s work is original, even in assignments meant to reflect personal experiences.

Using AI to cheat

A recent report by New York Magazine highlighted this growing problem.

A technology ethics professor at Santa Clara University assigned a personal reflection essay, only to find that one student had used ChatGPT to complete it.

At the University of Arkansas at Little Rock, another professor discovered students relying on AI to write their course introduction essays and class goals.

Despite an increase in students using its AI model to cheat in class, OpenAI shut down its AI detection software in 2023, citing a low rate of accuracy.

“We recognize that identifying AI-written text has been an important point of discussion among educators, and equally important is recognizing the limits and impacts of AI-generated text classifiers in the classroom,” OpenAI said at the time.

Compounding the issue of AI cheating are new tools like Cluely, an application designed to bypass AI detection software. Developed by former Columbia University student Roy Lee, Cluely circumvents AI detection on the desktop level.

Promoted as a way to cheat on exams and interviews, Lee raised $5.3 million to build out the application.

“It blew up after I posted a video of myself using it during an Amazon interview,” Lee previously told Decrypt. “While using it, I realized the user experience was really interesting—no one had explored this idea of a translucent screen overlay that sees your screen, hears your audio, and acts like a player two for your computer.”

Despite the promise of tools like SynthID, many current AI detection methods remain unreliable.

In October, a test of the leading AI detectors by Decrypt found that only two of the four leading AI detectors, Grammarly, Quillbot, GPTZero, and ZeroGPT, could determine if humans or AI wrote the U.S. Declaration of Independence, respectively.

Edited by Sebastian Sinclair

Generally Intelligent Newsletter

A weekly AI journey narrated by Gen, a generative AI model.

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May 21, 2025 0 comments

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Dow drops 115 points as S&P 500’s six-day rally ends

by admin May 20, 2025

Wall Street’s momentum stalled Tuesday as investors pulled back from tech stocks and rising bond yields renewed pressure on equities.

The Dow Jones Industrial Average fell 114.83 points, or 0.27%, while the S&P 500 dipped 0.39%, ending a six-day winning streak.

The Nasdaq Composite slid 0.38% as chipmakers and megacaps retreated, led by losses in Nvidia, AMD, Meta, Apple, and Microsoft. The tech sector was the S&P 500’s worst performer, falling roughly 0.9%.

The pullback follows a five-week rebound that lifted the S&P 500 more than 20% off its April low, driven by optimism around tariff de-escalation following President Trump’s earlier tariff announcement. The index is now about 3% below its all-time high.

“We’ve had the swoon related to tariffs, the furious rally, and now we’re awaiting clarification,” said Bill Northey of U.S. Bank Wealth Management. “It’s optimism without clarity.”

Meanwhile, bond markets added to the unease. The 10-year Treasury yield climbed to 4.48%, while the 30-year briefly topped 5% for the second straight day—its highest since November 2023.

The rise follows Moody’s decision to downgrade U.S. debt, citing ballooning deficits and rising interest expenses.

Equity valuation challenges

Analysts say yields at or above 4.5% tend to challenge equity valuations. “If the 30-year is breaking out, does that mean the rest of the curve is next?” said Manulife’s Matthew Miskin.

Morgan Stanley’s Michael Wilson noted that equities have consistently faced valuation pressure when the 10-year yield breaches 4.5%.

Elsewhere, Tesla shares rose 2% after Elon Musk reaffirmed his commitment to remain CEO for at least five more years. On the political front, President Trump failed to win over GOP holdouts on a key tax bill, jeopardizing its passage before Memorial Day.

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May 20, 2025 0 comments

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XRP ETF Delayed by SEC. When Will It Be Approved?

by admin May 20, 2025

The U.S. Securities and Exchange Commission (SEC) has postponed making a decision on 21Shares’s proposal to launch a spot-based XRP exchange-traded fund (ETF).

The holders of the token should not read too much into this delay, given that this is simply a standard practice for the agency.

The SEC actually has multiple windows to eventually make a decision regarding a certain ETF proposal. The review period can last up to a total of 240 days. During this period, the SEC collects opinions from the public and analyzes pertinent data.

The 21Shares filing was originally submitted on March 11. This means that the most recent delay notice is within the normal timeframe. The SEC usually issues such a notice roughly 70 days after the filing.

When will XRP ETFs be approved?

According to Bloomberg, spot-based XRP ETFs are expected to be greenlit by the end of the year. However, it is still possible that an agency could approve them as early as June.

As reported by U.Today, regulated XRP futures went live earlier this week, further legitimizing the token and increasing institutional acceptance. This development bodes extremely well for XRP approval odds.

According to Polymarket bettors, there is an 83% chance of an XRP ETF being approved this year.

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May 20, 2025 0 comments

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Strategy’s $40 Billion Bet In Trouble? New Lawsuit Opens Can Of Worms

by admin May 20, 2025

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Strategy’s $40 billion Bet on Bitcoin has become the subject of a class action lawsuit. The plaintiffs accuse the company’s executives of making misleading statements. This comes amid the firm’s latest purchase of 7,390 BTC.

Strategy Faces Lawsuit Over Bitcoin Bet

According to Strategy’s filing with the SEC, the plaintiffs filed a class action lawsuit against the firm on May 16 against the company, its co-founder, Michael Saylor, the CEO, Phong Le, and Executive Vice President Andrew Kang. The lawsuit alleges that Strategy and its executives violated the Securities Exchange Act.

The plaintiff and class representative Anas Hamza claims on behalf of the class of investors that from April 30, 2024, to April 4, 2025, the defendants made false and misleading statements with respect to Strategy’s Bitcoin Treasury.

The investors further allege that Strategy and its executives failed to disclose information about the anticipated profitability of its bitcoin-focused investment strategy and treasury operations. Saylor and his company are also accused of failing to disclose the various risks associated with BTC’s volatility and the magnitude of the losses.

The company and its executives plan to defend against these claims rather than reach a settlement. The plaintiffs are seeking unspecified damages, which extend to fees, costs, and other reliefs.

Strategy revealed the details of the lawsuit alongside its announcement of another Bitcoin purchase. The company, previously known as MicroStrategy, announced that it had acquired 7,390 Bitcoin for $764.9 million at an average price of $103,498 per BTC. The firm has also achieved a BTC yield of 16.3% year-to-date (YTD).

Saylor’s firm has now acquired a total of 576,230 BTC for $40.8 billion at an average price of $69,726 per BTC, making it the largest corporate Bitcoin holder.

BTC And MSTR Stock Rally Despite The Lawsuit

The Bitcoin price and MSTR stock rallied despite news of the lawsuit against Strategy. BTC surged from its intraday low at around $102,000 and closed May 19 above $105,000. Meanwhile, MSTR also enjoyed a 3% gain on the day, rallying above the psychological $400 level.

Analysts predict that the Bitcoin price could soon hit a new all-time high (ATH), which is also bullish for the MSTR stock. Crypto analyst Titan of Crypto revealed that BTC has broken out of a clear bull pennant on the daily chart. He added that new all-time highs could be around the corner if this move holds. His accompanying chart showed that the flagship crypto could rally to as high as $112,000 on this breakout.

Source: Titan of Crypto on X

At the time of writing, the Bitcoin price is trading at around $105,500, up over 3% in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $105,361 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com

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May 20, 2025 0 comments

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Telegram CEO Says French Intelligence Asked Him to Ban Romanian Election Channels

by admin May 20, 2025

In brief

Durov claims French intelligence demanded IP data and bans on political Telegram channels in Romania.
France denies meddling, insisting its outreach focused on child safety and anti-terror efforts.
The row shows growing concerns over authoritarian state overreach on encrypted platforms.

Pavel Durov, founder and CEO of encrypted messaging platform Telegram, confirmed that France’s foreign intelligence service asked him to ban conservative Romanian voices ahead of the May 2025 presidential election, citing terrorism and child safety concerns.

He refused.

“They met with me—allegedly to fight terrorism and child porn,” Durov wrote on X on Monday.

Durov claims the latter subject “was never even mentioned,” adding that the intelligence agency engaged in manipulative tactics, despite having other intentions.

“Their main focus was always geopolitics: Romania, Moldova, Ukraine,” Durov claimed.

The Directorate-General for External Security (DGSE), France’s foreign intelligence agency, allegedly sought IP logs for users tied to political conversations, Durov said.

“Falsely implying Telegram did nothing to remove child porn is a manipulation tactic,” he added.

Durov’s claims were first made public on Sunday morning, with French officials denying his allegations hours after.

“France categorically rejects these allegations and calls on everyone to exercise responsibility and respect for Romanian democracy,” the country’s Ministry for Europe and Foreign Affairs stated on X.

Decrypt reached out to the ministry for further comment. Telegram’s press office did not immediately return Decrypt’s request for comments.

Election interference and democracy

When French intelligence head Nicolas Lerner approached Durov, the Telegram head claimed he “flatly refused.”

“You can’t ‘defend democracy’ by destroying democracy. You can’t ‘fight election interference’ by interfering with elections,” Durov said, exposing the matter on his Telegram channel.

The interaction happened sometime in spring at the Salon des Batailles in the Hôtel de Crillon, Durov recalled.

The concerns around election interference using Telegram as an encrypted means of communication center on Romania’s recently concluded presidential elections, where Nicusor Dan, a centrist, defeated George Simion, a nationalist who had publicly claimed to follow President Donald Trump’s political style.

Durov claimed French intelligence had asked him to block Romanian conservative voices in the run-up to the elections. France’s DGSE acknowledged meeting with Durov, but stated these discussions only focused on “preventing terrorist and child pornography threats” on the platform.

Still, the Telegram founder is no stranger to political scrutiny.

Last year, he was arrested and detained over his alleged role in facilitating criminal content. The case remains unresolved.

The move sparked outrage across the tech industry. Notcoin and Toncoin, two cryptocurrencies associated with the Telegram platform via The Open Network, fell as much as 21% on the news.

Following Durov’s arrest, the platform promised to share details and cooperate with authorities.

It’s worth noting that Durov’s indictment came at a time when Telegram was moving to make crypto-backed financial services a core feature of its platform.

Those ambitions were hampered by their brush with authorities, Seth Goertz, a former U.S. Attorney specializing in cryptocurrency and cybersecurity, told Decrypt at the time.

“The more they go down that road, the more they’re inviting scrutiny,” Goertz said, commenting on Telegram’s crypto and finance ambitions.

Edited by Andrew Hayward

Generally Intelligent Newsletter

A weekly AI journey narrated by Gen, a generative AI model.

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May 20, 2025 0 comments

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Dow Jones, Nasdaq, S&P 500 down, retailers are split on tariff impact

by admin May 20, 2025

Tariffs continue to be in focus during today’s trading session, as Walmart and Home Depot shared differing views on their impact.

U.S. markets are still assessing the effect of tariffs on consumers. On Tuesday, May 20, the Dow Jones was trading at 42,679.23, down 112.84 points or 0.26%. The S&P 500 was at 5,942.07, down 0.36%, while the Nasdaq stood at 21,353, down 0.44%.

Just days after Walmart announced potential price hikes due to U.S. tariffs, Home Depot offered a different perspective. In its first-quarter 2025 earnings report, the home improvement giant stated that it plans to keep prices steady. Rather than raising prices, the company has opted to shift production away from China, which currently faces an effective tariff rate of 30%.

Still, Home Depot’s announcement may not be enough to lift sentiment. Wall Street analysts continue to warn about the broader economic impact of the recently resumed collection of student loans.

Student debt, consumer sentiment rattles Wall Street

The Department of Education under Donald Trump has resumed collections on student loans that had been paused for five years. This applies to borrowers in default, who may now face wage garnishment.

Notably, JPMorgan estimated that renewed collections could reduce disposable personal income somewhere between $3.1 billion and $8.5 billion. Bank of America’s analyst Mihir Bhatia noted that low-end consumers will particularly feel the weight of this new policy.

Against this backdrop, May’s preliminary consumer sentiment index has dropped to the second-lowest level on record. The index, which measures consumers’ willingness to spend, fell to 50.8 — the lowest reading aside from June 2022.

Still, despite bad news for Wall Street and Main Street, Bitcoin (BTC) is resilient, trading at $106,323 and up 0.98% in the last 24 hours. Gold showed even stronger performance, up 1.78% to $3,287 per ounce.

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May 20, 2025 0 comments

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Aave (AAVE) Price Jumps by 25% in 24 Hours: Key Reasons

by admin May 20, 2025

AAVE price spikes by 25% amid market apathy: Reasons
Aave (AAVE) now responsible for 20% of all DeFi TVL

AAVE, a core cryptocurrency token of Aave, a leading DeFi protocol on EVM blockchains, outperforms all of the major cryptos. While the market benchmark is in the red, the AAVE price has logged a 25% overnight price increase. AAVE crypto might benefit from the U.S. GENIUS Act gaining support.

AAVE price spikes by 25% amid market apathy: Reasons

Today, May 20, 2025, AAVE, a native governance crypto of the eponymous blue-chip DeFi, has seen its price spiking by 25% in less than one day. The AAVE price jumped from $213 to a three-month high over $267. AAVE becomes the best performer in the top 100.

Image by CoinGecko

On social media, the cryptocurrency community attributed the success of AAVE to the GENIUS Act, which eases crypto regulation in the U.S. and makes it less hostile to DeFi and stablecoins.

Affected by this optimism, other DeFi tokens are also outperforming today. For instance, CRV crypto of Curve Finance DeFi is the second best performer with an 8% upsurge, while JUP of Solana’s DeFi Jupiter is up by 5%.

By contrast, the market benchmark is in red today. The total capitalization of the cryptocurrrency segment dropped by 1.5% overnight, while Bitcoin (BTC) is only up 0.3%.

Aave (AAVE) now responsible for 20% of all DeFi TVL

Ethereum (ETH), the second-largest cryptocurrency, is up by 1%, while other majors XRP, BNB, DOGE and ADA are all losing value.

Aave (AAVE) also accomplished a number of records in its total value locked (TVL) metrics. After a recent upsurge, its TVL hit a new all-time high over $30 billion.

That said, it exceeds all CeFi TVL combined and is equal to an unbelievable 20% of aggregated TVL of all DeFis in Web3.

Many analysts see the run of AAVE as the first signal of altcoin season incoming. Optimists see the token reaching $280-$200 in the near future.

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May 20, 2025 0 comments

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Pi Network Faces Obstacles As Price Wobbles Below $1, What’s Happening?

by admin May 20, 2025

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

Pi Network has seen its price struggle since its launch after an initial rally pushed the price to $2.98. Its launch in February 2025 was highly anticipated and triggered its lift-off as believers who had been with the project for five years were finally rewarded. However, with the passage of time, the coin has also succumbed to the pressures from the bears and has now fallen by more than 75% from its all-time high. So, in this report, we take a look at the Pi Network price and the reasons behind the consistent decline.

Pi Network Runs Into Post-Launch Troubles

It’s been three months since the Pi Network main net launch and the project has already been faced by problems. The first problems that arose after launch was the locked coins and lots of miners being unable to claim their coins due to KYC issues. Nevertheless, the coin continued to maintain the trust of its users.

With months already gone, the lack of listing on Tier 1 crypto exchanges such as Binance and Coinbase has raised concerns among investors. Given that the altcoin is now a top 30 cryptocurrency with a market cap of over $5 billion, it makes it one of the only few coins in this category with no Tier 1 listing.

As a result of this, community members have speculated that the team’s actions could be the reasons behind the lack of listing. This is because top exchanges usually require transparency before listing tokens due to their large audience and there are rumors that the Pi Network team have been less than forthcoming about their token.

Another issue that has risen up is the lack of decentralized finance (DeFi) usage on the platform. No DeFi apps have been deployed, thus leaving the Pi Network price at the mercy of crypto market forces, with no real activity to create demand and push it higher.

Pi Network community members have also called for transparency on the $100 million Pi Network Ventures fund that was announced to promote innovative startups. So far, there have not been any developments that would show growth to the community.

Price Runs Into Troubles

With no network activity driving the Pi Network price, it has fluctuated with the crypto market. During the weekend, the altcoin saw an over 50% surge above $1.2. But this rally was short-lived as the price has since retraced and crashed back down below $1.

This struggle below $1 mirrors the lack of strong support as the community is still doubting the future of the token and are questioning whether the Pi Network team will deliver on its promises. If these promises do end up being a reality, it is likely that the Pi Network price does reverse and test for new highs this bull cycle.

Price wobbles with lack of support | Source: PIUSDT on TradingView.com

Featured image from Dall.E, chart from TradingView.com

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May 20, 2025 0 comments