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Morning Minute: Coinbase CEO Calls for Bitcoin to Hit $1 Million

by admin August 24, 2025



Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

  • Crypto majors mostly red heading into Jackson Hole; BTC -1% at $112,300
  • MetaMask introduces new stablecoin mUSD, to launch on ETH + Linea
  • Plasma’s XPL debuts at $0.45 on Hyperliquid pre-market, 9x from July presale
  • XCOPY piece ‘Death Wannabe’ sells for $475,000
  • Kanye token YZY falls another 37% to $0.69

💰 Brian Armstrong Joins the $1M Bitcoin Club

Coinbase CEO Brian Armstrong just laid out his big target:

Bitcoin could hit $1,000,000 by 2030.

📌 What Happened

Speaking on the Cheeky Pint podcast, Armstrong laid out his bold thesis for Bitcoin’s future, predicting $1M BTC within the next five years.

His rationale centers on three major drivers:

  • Regulatory clarity, with the U.S. paving the way as a “bellwether for the rest of the G20.”
  • Institutional adoption with ETFs, treasuries, and banks leaning further into crypto.
  • Government reserves, even floating the idea of a U.S. Strategic Bitcoin Reserve as a potential tailwind.

He joins a growing list of Bitcoin bulls: Jack Dorsey has also forecast $1M BTC, and Cathie Wood has gone further, projecting up to $3.8M by 2030.

And that doesn’t even take into account some of Michael Saylor’s predictions ($40M+ by 2040).

JUST IN: Michael Saylor says the bear market “is not coming back.”

“Bitcoin is not going to zero, it’s going to $1,000,000.” pic.twitter.com/kodw2huwL5

— Watcher.Guru (@WatcherGuru) June 10, 2025

🧠 Why It Matters

Anyone can make a big bull call like this.

But some calls matter more than others.

Brian Armstrong’s view carries weight as the CEO of the largest U.S. crypto exchange and a key player in regulatory conversations.

Big targets like $1M drive:

  • Market psychology: Big round numbers like $1M fuel long-term narratives and investor conviction, even if short-term volatility dominates.
  • Institutional FOMO: With ETFs booming and corporate treasuries accumulating, the groundwork for Armstrong’s thesis is already being laid.
  • Strategic framing: The idea of a U.S. “Bitcoin reserve” may sound wild, but in a world where nations are competing for financial sovereignty, it’s not far-fetched.

And targets like this make it easier for folks buying for the first time over $100,000 to have a nice return multiple in mind (helps with unit bias).

$1M is a meme number, but memes seem to find a way into existence in crypto.

The last big one was early Bitcoiners “selling to the bankers.” Well guess what, that’s actively happening.

So maybe if $1M BTC is memed enough, it will be memed into existence as well…



🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

  • Crypto majors were mostly red on the day ahead of Powell’s comments at Jackson Hole this morning;BTC -1% at $112,300, ETH even at $4,285, XRP -3% at $2.80, SOL -2% at $180
  • ZEC (+11%), OKB (+7%) and MORPHO (+4%) led top movers
  • The ETH ETFs posted their first day of net inflows ($287.6M) after 4 red sessions
  • MetaMask announced its stablecoin mUSD, coming to ETH and Linea soon
  • A long-dormant Bitcoin whale moved 670 BTC (~$75M) to open leveraged long positions on Ethereum
  • The OCC rescinded its consent order on Anchorage Digital after the bank met AML compliance, restoring its status as the only federally chartered crypto bank in the U.S
  • The EU is considering dropping its CBDC plans for a stablecoin
  • Singapore’s DBS Bank rolled out Ethereum‑tokenized structured notes, giving institutional investors blockchain access to crypto-linked products
  • Gemini secured a MiCA license in Malta, enabling compliant expansion into 30+ European countries under EU crypto regulations

In Corporate Treasuries

In Memes

  • Memecoin leaders are green on the day; DOGE +2%, Shiba +1%, PEPE +3%, PENGU +4%, BONK +2%, TRUMP -2%, SPX -4%, and FARTCOIN -3%
  • YZY fell another 37% on the day to $0.69 and an $89M mc
  • SPARK (+80%), TROLL (+20%) and BITTY (+165%) led onchain SOL meme movers

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

  • Plasma’s XPL token went live for pre-market perps trading on Hyperliquid, opening at $4.65B fdv
  • Coinbase added Trump-backed USD1 stablecoin from World Liberty Financial to its listing roadmap, expanding its stablecoin lineup

🤖 AI x Crypto

Section dedicated to headlines in the AI sector of crypto:

  • Overall market cap down 4% to $11.8B, leaders were mostly red
  • FARTCOIN (-4%), VIRTUAL (-4%), TIBBIR (+4%), ai16z (-3%) & VVV (-7%)
  • fxn (+24%), Simmi (+22%) and IRIS (+15%) led top movers

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH NFT leaders were mixed; Punks +4% at 48.3 ETH, Pudgy -1% at 12.44, BAYC -2% at 11.4 ETH
  • Reflections (+19%) and Meebits (+10%) were notable top movers
  • Bitcoin NFTs were mostly red or even, no notable movers
  • Abstract NFTs were mostly green, led by Final Bosu (+27%) and OCH Heroes (+15%)
  • XCOPY edition of 10 ‘Death Wannabe’ sold for $475,000 (only 4 editions still in existence)
  • Hyped new mint Cerebro trades below 0.08 ETH mint price after debut

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August 24, 2025 0 comments
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Morning Minute: CME & Fanduel Bring Prediction Markets to the Masses

by admin August 21, 2025



Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

  • Crypto majors mixed, ETH and SOL lead; BTC back to $113k
  • BNB hits fresh ATH at $880 overnight before retracing
  • Kanye tweets out YZY coin, briefly runs to $3B before falling
  • CME announces partnership with Fanduel to launch events contracts
  • Heaven notches first $1M revenue day, burns another $1M of its LIGHT token

🎲 CME + FanDuel Bring Event Contracts to the Masses

Wall Street is meeting Main Street in the betting arena.

And the prediction market boom is about to begin…

📌 What Happened

The CME Group and FanDuel are teaming up to launch a new event contracts platform, making it easier for everyday users to bet on markets like the S&P 500, oil, gold, and even crypto.

The two will create a joint venture that will offer fully funded, event-based contracts as a part of the initiative.

These simple yes/no markets will let FanDuel’s millions of customers trade on major benchmarks and economic indicators for as little as $1.

Expected to go live later this year (pending CFTC review), the platform will cover:

  • Indices: S&P 500, Nasdaq-100
  • Commodities: oil, gas, gold
  • Crypto: Bitcoin, Ethereum, and more
  • Macro data: GDP, CPI, and other key releases

The contracts will run through a new non-clearing futures commission merchant (FCM) jointly operated by CME and FanDuel, and listed on CME’s regulated exchanges.

🗣️ What They’re Saying

  • Terry Duffy, CME Group CEO: “Together, our event-based products will appeal to the growing public interest in markets, and we will provide education to attract a new generation of potential traders not active in derivatives today.”
  • Amy Howe, FanDuel CEO: “Partnering with CME Group will unlock our ability to bring even more new and engaging products to FanDuel’s fast-growing customer base… combining innovation with best-in-class regulatory compliance and consumer protections.”

CME & FanDuel partnering on event contracts…

I’m serious.

Basically you can wager as little as $1 on S&P 500, Nasdaq 100, oil, gas, gold, crypto, & even GDP and CPI.

Yes, you’ll be able to place these bets via FanDuel.

Full gamification of markets.

What a time to be alive. pic.twitter.com/BMUgjgqWw4

— Nate Geraci (@NateGeraci) August 20, 2025

🧠 Why It Matters

This is a huge moment for prediction markets and retail access:

  • Mainstream on-ramp: Millions of FanDuel bettors will soon have a direct line into regulated financial products, essentially turning prediction rading into a mass-market consumer activity
  • Legitimacy & compliance: With CME as the partner, these contracts have instant credibility and regulatory cover, something platforms like Kalshi and Polymarket have struggled with
  • Bridging speculation & investing: By blending sports betting UX with financial markets, CME and FanDuel are creating a product that sits squarely between gambling and trading
  • Crypto crossover: Including Bitcoin and Ethereum in the initial product set cements crypto’s role as a tradable benchmark alongside equities, commodities, and macro data

Assuming this is approved, this could be the biggest step yet toward mass adoption of event-based markets in the U.S. seen to date.

There were questions (and rightfully so) if prediction markets would make it post-2024 election.

Volumes boomed into the most hotly debated election ever, but then (to the surprise of many), volumes sustained.

Prediction markets have sustained well post-election (data from https://dune.com/fergmolina/polymarket-markets-data)[/caption]

Thanks to new styles of pop culture markets, leaning more into news and geopolitics and of course sports betting markets, prediction markets have kept volumes at ~50%+ levels of peak 2024.

That’s a huge win.

And the more progress made in 2025-2026 will lead for an even bigger 2028 election cycle.

Let the prediction market boom begin…

🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

  • Crypto majors were mostly green on the day; BTC even at $113,300, ETH +3% at $4,285, XRP +1% at $2.90, SOL +3% at $184
  • OKB (+60%), MORPHO (+12%) and LINK (+6%) led top movers
  • BNB briefly broke to a new ATH of $880 last night
  • OKB popped another 60% to $206 after its massive token burn
  • A judge unfroze $57.6M in funds tied to the Libra meme coin case (tied to Argentina President Javier Milei) after signs of compliance
  • Xapo sees a $200B Bitcoin inflow coming from the wealth transfer from boomers to their children over the coming decade
  • Ark Invest backed Bullish and Robinhood, with Cathie Wood’s firm buying $21.2M of Bullish and $16.2M of Robinhood shares in their market debuts
  • The Winklevoss twins funded a pro-Trump crypto PAC to the tune of $21M (188 BTC as it looks to launch the Digital Freedom Fund aimed at blocking CBDCs and supporting crypto-friendly policy
  • The New York lawmaker’s push for 0.2% crypto tax will also include stablecoin transfers

In Corporate Treasuries

  • Empery Digital holds $450M in BTC but its market cap sits at just $340M, trading well below mNAV
  • Windtree Therapeutics, a BNB treasury company, has been removed from Nasdaq for listing compliance issues

In Memes

  • Memecoin leaders are red on the day; DOGE -3%, Shiba -3%, PEPE -4%, PENGU -8%, BONK -4%, TRUMP -3%, SPX -3%, and FARTCOIN -4%
  • Kanye West tweeted out a memecoin YZY which briefly ran to $3B FDV before falling back to $1B
  • Heaven reached $1M in daily revenue on Wednesday (75% of Pump’s revenue) while also unlocking a new “golden twap” to account for some missed revenue that hadn’t gone to LIGHT buybacks

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

🤖 AI x Crypto

Section dedicated to headlines in the AI sector of crypto:

  • Overall market cap down 2% to $12.2B, leaders were mixed
  • FARTCOIN (+1%), VIRTUAL (+1%), TIBBIR (-3%), ai16z (-1%) & VVV (-17%)
  • fxn (+24%), Simmi (+22%) and IRIS (+15%) led top movers

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH NFT leaders were mostly green; Punks -2% at 46.5 ETH, Pudgy +1% at 12.6, BAYC +2% at 11.6 ETH
  • Moonbirds (+15%) and Mooncats (+17%) were notable top movers
  • Bitcoin NFTs were mostly red or even; Bitcoin Puppets +6%
  • Abstract NFTs were mixed, led by BUUMEE (+20%)

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August 21, 2025 0 comments
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Morning Minute: Ghost Month Returns – Will Bitcoin Buck the Trend?

by admin August 20, 2025



Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

  • Crypto majors are red again, down another 2%; BTC at $113,200
  • Wyoming introduces its stablecoin FRNT, first-ever from a public entity
  • Goldman Sachs says stablecoin market will hit trillions
  • Bullish holds $1B+ in stables after receiving them via IPO
  • Robinhood partners with Kalshi for NFL prediction markets

👻 Ghost Month Returns: Will Bitcoin Buck the Trend?

Ghost Month begins in 3 days.

And historically, that’s been bad news for Bitcoin.

📌 What Happened

The 7th lunar month, known as Ghost Month, kicks off this weekend (Aug 23 – Sep 20).

In many Asian cultures, it’s a time when spirits are believed to roam the earth – and when investors traditionally avoid making big financial moves.

This superstition has bled into markets, and the data backs it up:

  • Since 2015, Bitcoin has averaged a -12% return during Ghost Month.
  • Some of the worst selloffs came in 2017 (-39.8%) during China’s ICO ban, and in 2021 (-23%) following the mining crackdown.
  • Even in bull years, like 2019 and 2024, the pattern held: mid-month drawdowns of 12-19% before late recoveries.
  • On average, trading volumes dip in Asia, liquidity thins, and volatility spikes.

So far in 2025, Bitcoin has already slid about 10% from its $124K peak, with open interest dropping sharply. And notably, it’s sold off during the Korean open (~7 pm ET) every day this week.

📝 By The Numbers

Here’s a year-by-year breakdown of Bitcoin’s performance during Ghost Month since 2015.

Bitcoin has averaged -12% during Ghost Month over the past 10 years

Yeah – it’s not great.

🧠 Why It Matters

Of course, past performance is not representative of the future.

But… a 10-year sample size with similar outcomes seems telling.

The wildcard this year – Powell speaks at Jackson Hole just a day before Ghost Month kicks off.

If he signals rate cuts are coming in September, then this might be the best Ghost Month in Bitcoin’s history.

If he’s overly hawkish – there’s a good chance Ghost Month plays out.

That means choppy price action and more dips.

But there’s also a silver lining.

History suggests that while Ghost Month often delivers pain in the short term, it can also set the stage for powerful rebounds once sentiment clears (i.e. 2017 and 2021).

So these Ghost Month dips are for buying.

Now let’s just hope things don’t get too spooky…



🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

  • Crypto majors were red again on the day; BTC -2% at $113,200, ETH -3% at $4,175, XRP -5% at $2.87, SOL -2% at $179.
  • OKB (+2%) and PUMP (+2%) led top movers.
  • The State of Wyoming launched its Frontier Stable Token (FRNT), the first stablecoin ever issued by a U.S. public entity.
  • Anthony Scarmucci announced that SkyBridge Capital will tokenize two of its funds on AVAX.
  • Goldman Sachs stated that the market for stablecoins is in the trillions.
  • Air Canada’s Pension Fund disclosed a $161M BTC position.
  • Trump Jr.-backed crypto treasury firm Thumzup is acquiring Dogehash Technologies, aiming to merge into a large-scale Dogecoin‑Litecoin mining operation.
  • Bullish holds $1.15 B in stablecoins after receiving IPO funds via stables (instead of fiat) primarily in USDC on Solana and RLUSD on the XRP Ledger.
  • Robinhood listed SUI for trading.

In Corporate Treasuries

  • Sharplink acquired 143,593 ETH in the past week at an average of $4,648, now holding 741k in total.
  • David Bailey’s Nakamoto announced 5,744 BTC ($679M) purchased at an average price of $118,204.

In Memes

  • Memecoin leaders are red on the day; DOGE -3%, Shiba -3%, PEPE -4%, PENGU -8%, BONK -4%, TRUMP -3%, SPX -3%, and FARTCOIN -4%.
  • LIGHT dropped 12% to $100M market cap as revenue came in at just $200k on the day (2nd behind PUMP’s $1.2M).

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

🤖 AI x Crypto

Section dedicated to headlines in the AI sector of crypto:

  • Overall market cap down 1% to $12.5B, leaders were red.
  • FARTCOIN (-4%), VIRTUAL (-3%), TIBBIR (-3%), ai16z (-3%) & VVV (+1%).
  • MIRAI (+14%), Project89 (+13%) and Nuit (+10%) led top movers.

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH NFT leaders were mostly green; Punks -3% at 47.4 ETH, Pudgy +1% at 12.44, BAYC +1% at 11.4 ETH.
  • Meebits (+10%) and Yumemono (+18%) were notable top movers.
  • Bitcoin NFTs were mostly red or even; OMB +5%.
  • Abstract NFTs were mostly red, led by BUUMEE (+56%).

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August 20, 2025 0 comments
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Crypto Trends

Morning Minute: Wall Street Loads Up on Bitcoin

by admin August 18, 2025



Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

  • Crypto majors dip 3-6% overnight; BTC holds at $115,000
  • Gemini files to go public with ticker GEMI, timing TBD
  • BTCS becomes first TreasuryCo to issue a ‘Bividend’, offers blockchain dividend
  • Adam Back’s Bitcoin Standard TreasuryCo to launch with 30k BTC + $1.5B
  • LIGHT eco rallies over the weekend, latest launchpad challenger to Pump

🏦 Wall Street Loads Up on Bitcoin via ETFs

Some of the biggest players in the world are piling billions into BTC funds.

Yet the average professional fund manager is barely allocated. What gives?

📌 What Happened

Wall Street and global institutions dramatically increased their Bitcoin exposure in Q2, pouring billions into spot ETFs like BlackRock’s (IBIT) and related crypto equities.

SEC filings reveal that heavyweights like Brevan Howard, Goldman Sachs, Harvard, Wells Fargo, Jane Street, and even Norway’s sovereign wealth fund all boosted their positions, signaling growing comfort with BTC as a core allocation.

Some of the most notable moves:

  • Brevan Howard nearly doubled its IBIT stake to 37.9M shares worth $2.6B, making it one of the largest institutional holders.
  • Goldman Sachs reported $3.3B across IBIT and Fidelity’s Wise Origin Bitcoin Trust (FBTC), plus $489M in Ethereum’s ETHA trust.
  • Harvard disclosed a $1.9B stake in IBIT, while Abu Dhabi’s Mubadala continues to hold $681M.
  • Wells Fargo quadrupled IBIT holdings to $160M, alongside a small GBTC stake.
  • Cantor Fitzgerald pushed past $250M in IBIT while adding exposure to Strategy (MSTR), Coinbase (COIN), and Robinhood (HOOD).
  • Trading giant Jane Street now owns $1.46B of IBIT, making it its largest position after Tesla.
  • Norway’s $2T sovereign wealth fund indirectly holds 7,161 BTC (~$841M) via equity stakes in MSTR, Coinbase, Block, and others – up 192% YoY.

Yet, the average professional fund manager in the US is barely allocated.

A survey from Bank of America showed that the average fund manager has just 0.3% allocated to crypto.

And a whopping 75% have 0 exposure.

🗣️ Why It Matters

It’s a tale of two groups.

Institutions are clearly piling into BTC and crypto right now, including the biggest names in finance, academia, and even nation-states.

The sheer scale of these positions ($2B+ for Brevan Howard, $3B+ for Goldman, $1.9B for Harvard) validates Bitcoin as an institutional-grade asset.

And it’s becoming clearer that spot ETFs are proving to be the gateway, offering clean, regulated exposure through familiar structures.

Yet, retail is sleeping, and their fund managers aren’t helping.

The fact that 75% of fund managers aren’t allocated at all is not surprising but is also staggering at the same time.

But the good news is – they are coming.

The more that the big names and institutions pile in, the “safer” it becomes for the average fund manager to recommend crypto as an investment.

It’s a lot easier to make safe, standard and consensus plays and collect fees than it is to go out on a limb and make contrarian, conviction calls.

Crypto won’t be contrarian much longer.

And the fund manager pivot is just a matter of time…



🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

  • Crypto majors were red on the day; BTC -3% at $115,100, ETH -6% at $4,260, XRP -5% at $2.97, SOL -7% at $181
  • XMR (+4%) led top movers
  • Odds of a September rate cut have fallen from 99% to 83% after recent inflation data
  • The ETH ETFs saw new outflows on Friday, after a massive 8-session green streak that resulted in $3.7B in net inflows
  • The Federal Reserve officially ended its “novel activities” program that increased bank scrutiny of crypto
  • SEC Chair Paul Atkins announced the agency is developing new custody regulations for digital assets to increase clarity and security in the U.S. crypto markets
  • A recent survey showed professional fund managers allocate just 0.3% to crypto on average, and 75% have 0 exposure
  • Gemini filed to go public via Nasdaq with ticker GEMI, timing still TBD
  • Grayscale filed for a Dogecoin ETF on Friday
  • New York Assemblymember Phil Steck proposed a 0.2% excise tax on crypto transactions, estimating $158 M in annual revenue from the program

In Corporate Treasuries

  • SBET stock plunged 15% to $19.85 on Friday following a Q2 net loss of $103 M; the firm attributed losses to a $87.8M non‑cash impairment and $16.4M in stock‑based compensation
  • Metaplanet bought another 775 BTC for $93M, now holds 18,888
  • Adam Back’s Bitcoin Standard TreasuryCo is preparing to go public in a merger with Cantor Equity Partners, aiming to launch with 30,000 BTC + $1.5B in capital
  • BTCS announced it will issue a one-time blockchain dividend, ‘Bividend,’ of $0.05 per share in ETH, the first of its kind

In Memes

  • Memecoin leaders are very red on the day; DOGE -5%, Shiba -5%, PEPE -5%, PENGU -6%, BONK -8%, TRUMP -2%, SPX -9%, and FARTCOIN -5%
  • FORK was a top onchain runner, jumping 25x to $4.3M; NEET +36% to $13M was a notable mover
  • LIGHT ran 4x to $160M over the weekend after the team spent over $1.4M buying back and burning its token thanks to its flywheel (now $126M)

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

  • Polymarket introduced a ‘Breaking News’ tab, showing the top moving markets over the past 24 hours
  • Pump.fun flipped Hyperliquid in revenue on Sunday, though it still lagged on the week and month (Hype re-flipped it over the past 24 hours)
  • Story Protocol founder Jason Zhao resigned over the weekend, 3.5 years after starting Story (and $130M+ in funding later)

🤖 AI x Crypto

Section dedicated to headlines in the AI sector of crypto:

  • Overall market cap down 3% to $12.9B, leaders were red
  • FARTCOIN (-6%), VIRTUAL (-3%), TIBBIR (-8%), ai16z (-5%) & VVV (+9%)
  • VIRGEN (+84%), AVB (+17%) and CLANKER (+15%) led top movers

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH NFT leaders were red alongside the ETH selloff; Punks -1% at 49 ETH, Pudgy -3% at 12.8, BAYC -3% at 11.3 ETH
  • 0n1 Force (+29%) and Yumemono (+60%) were notable top movers
  • Bitcoin NFTs saw some green, led by Taproot Wizards (+4%) and Adderrels (+28%)
  • Abstract NFTs were mostly red, led by Pengztracted (+29%)
  • A Rektguy 1/1 sold for 10 ETH ($45,000)
  • Cerebro announced its mint details, launching on 8/21 with 6,969 NFTs for 0.08 ETH each

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August 18, 2025 0 comments
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Ethereum Flashes Bullish Morning Star Candlestick Pattern - Is ETH Rally Getting Started?
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Ethereum Flashes Bullish Morning Star Candlestick Pattern – Is ETH Rally Getting Started?

by admin June 3, 2025


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

While Ethereum (ETH) has posted impressive gains of 37.7% over the past month, the second-largest cryptocurrency by market capitalization still remains over 33% below its June 2024 levels. However, recent technical and on-chain indicators suggest that ETH may be on the verge of a significant breakout.

Ethereum Prints Bullish Morning Star Candlestick Pattern

In a post on X earlier today, crypto trader Merlijn The Trader highlighted a potentially bullish development on the Ethereum monthly chart. According to Merlijn, ETH has printed a Morning Star candlestick pattern – often regarded as a strong bullish reversal signal. 

Source: Merlijn The Trader on X

For the uninitiated, the Morning Star is a bullish reversal pattern that appears after a downtrend, signaling a potential shift to upward momentum. It consists of a large bearish candle, a small candle showing indecision, and a strong bullish candle that closes well into the first candle’s body.

Beyond technical indicators, Ethereum is also seeing growing interest from institutional investors. A recent CoinShares report revealed that global crypto exchange-traded products (ETPs) saw $286 million in net inflows during the week ending May 30. Ethereum-based ETPs were a key contributor to this trend.

Data from SoSoValue further confirms this momentum. In May 2025 alone, spot Ethereum exchange-traded funds (ETFs) recorded total net inflows of $564 million – up sharply from $66 million in April.

In addition, an increasing number of entities continue to stake their ETH on the network. In a separate X post, crypto analyst Ted Pillows outlined how Abraxas Capital had staked ETH worth $7.5 million earlier today.

To recall, Ethereum staking involves locking up ETH to help secure the Ethereum network and validate transactions, a core part of its proof-of-stake consensus mechanism. In return, stakers earn rewards, typically paid out in ETH, for participating in network operations.

Important To Hold This Support Level

Veteran crypto analyst Ali Martinez emphasized the importance of the $2,550 support level, noting that ETH must hold above this threshold to sustain its bullish momentum. If it does, Martinez predicts a possible push toward the $2,650 level.

Source: ali_charts on X

In line with this sentiment, fellow analyst Titan of Crypto suggested that ETH may be gearing up for a run to $3,800, citing a breakout from a bullish flag pattern on the daily chart. The analyst also pointed out that ETH is currently holding above its 200-day exponential moving average (EMA), which often signals continued upward movement.

Adding to the bullish case, nearly 300,000 ETH left Binance between mid-April and mid-May, potentially contributing to a supply crunch. At the time of writing, ETH is trading at $2,538, up 0.8% in the last 24 hours.

ETH trades at $2,538 on the daily chart | Source: ETHUSDT on TradingView.com

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

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June 3, 2025 0 comments
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Asia Morning Briefing: All Eyes on TON as Elon Musk Pours Cold Water on xAI Deal Talks
NFT Gaming

Asia Morning Briefing: All Eyes on TON as Elon Musk Pours Cold Water on xAI Deal Talks

by admin May 29, 2025



Good Morning, Asia. Here's what's making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.

Telegram's blockbuster deal with xAI, which would see Elon Musk's AI company integrate into Telegram and the two firms share revenue, is still a work in progress despite an announcement from Pavel Durov earlier Wednesday, U.S. time, that the deal was inked.

TON, a token affiliated with Telegram's ecosystem, is trading at $3.30, rallying there from $3 after the initial – now refuted – announcement of the partnership was made. The token is down from an earlier high of $3.68, after Elon Musk posted on X that no deal had been signed between the two companies. TON is still up 11% on the day, according to CoinDesk market data.

While Durov has now confirmed that no deal has been signed, the Telegram founder said there is an “agreement in principle” which might be why TON still has significant support at the $3.30.

All eyes will be on Telegram and xAI as the Asia business day begins to see if more clarification comes from either side.

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Decentralized BlueSky isn't a Web3 Company, Says CEO

VANCOUVER—Jay Graber, the CEO of fast-growing decentralized social media platform Bluesky, got her start in Web3 as a developer for privacy coin zCash, but she wants to keep her X competitor firmly in Web2.

Speaking at Web Summit in Vancouver on Wednesday, Graber argued blockchain technology’s permanence and resource-intensive design make it unsuitable for consumer-oriented social networks, where content is fleeting and personal.

“Why do you need your picture of what you post for lunch being maintained forever in this digital archive?” she asked on stage, highlighting the inherent scalability and cost limitations that drove her decision to avoid blockchain at Bluesky.

Graber, to be sure, isn't against crypto. She says there's still genuine value in the technology for things like payments and digital identity, even if sometimes Web3 often presents solutions in search of a problem, and has a trend of gravitating towards centralization.

“There’s a period where everyone was creating blockchain like this hammer, and we were just going to try blockchain for everything,” Graber said. “Every system that's trying to do it ends up with concentrations because it's easy, and convenience ultimately wins at the end of the day.”

For her, Bluesky's future lies in combining the ideals of decentralization, such as user autonomy and portability, with practical, Web2 infrastructure to create a platform that prioritizes users' needs.

“Blockchain will probably find its place somewhere in the world of technology, but Bluesky is not on a blockchain because we're just making the best choices for our users,” she concluded.

Nvidia's Earnings Beat Boosts Stock, Offers Modest Lift to AI Tokens

Shares of Nvidia rose roughly 4% in after-hours trading Wednesday after reporting stronger-than-expected first-quarter earnings, highlighted by a 69% revenue increase from last year and a 73% jump in its data center business driven by robust demand for AI chips. Net income rose 26% to $18.8 billion, boosting Nvidia’s year-to-date performance modestly higher, CoinDesk previously reported.

The earnings report provided a slight lift to AI-related crypto tokens like Bittensor (TAO), NEAR Protocol, and Internet Computer (ICP), though gains were modest.

However, Nvidia tempered future expectations, cautioning that second-quarter revenue might fall short of market estimates due to tariff-related trade tensions between the U.S. and China.

Market Movements:

  • BTC: Bitcoin dipped 1.2% to $107,800, though NYDIG sees more room for gains. At the same time, crypto markets shrugged off a U.S. court blocking Trump's broad tariffs as unconstitutional, with BTC trading remaining muted.
  • ETH: Ether is trading above $2700 as Asia begins its business day. Earlier, CoinDesk analyst Omkar Godbole wrote ETH is eying a breakout above $3,000, forming a bullish “ascending triangle” pattern with rising support and resistance at $2,735, as higher lows signal growing buying pressure and accumulation ahead of a potential price surge.
  • Gold: Gold has slipped 1% to $3,267.47 amid cooling safe-haven demand, though tariff and geopolitical uncertainty linger.
  • Nikkei 225: The Nikkei 225 is opening in the green, up 1%, as investors in export-reliant Japan are looking at a recent announcement that the Supreme Court has blocked Trump's tariffs with cautious optimism, even as crypto shrugged it off.
  • S&P 500: While the S&P 500 closed in the red, futures are up 1% as traders await more clarity regarding the court's move to block Trump's tariffs.



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May 29, 2025 0 comments
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TMNT: Tactical Takedown Review - A Bite-Sized Saturday Morning Romp
Game Reviews

TMNT: Tactical Takedown Review – A Bite-Sized Saturday Morning Romp

by admin May 22, 2025



The Teenage Mutant Ninja Turtles are in the midst of, pardon the pun, a video game renaissance. In the last few years alone we’ve received the excellent retro compilation Cowabunga Collection, the retro-style brawler Shredder’s Revenge, and the Hades-inspired roguelike Splintered Fate. Not since their breakout success on Saturday morning cartoons have the turtles been so ubiquitous in games, but this time around, developers are more emboldened to experiment with different game styles. Enter TMNT: Tactical Takedown, a grid-based tactics game that feels both authentically nostalgic and like creative new ground for the heroes. While it suffers slightly from a limited scope, the short adventure is a great time while it lasts.

Tactical Takedown is presented with a clean, bright visual style reminiscent of the old Saturday morning cartoon. The turtles’ beaks are rounded just like you drew on your Trapper Keeper during geometry class. But this story takes place well after the original series–Splinter and Shredder are both dead, and the boys’ relationship has grown contentious as they’ve all gone in different directions and coped with the loss. The combination of Saturday morning aesthetics with this new story premise make this feel like a progression of that continuity and an opportunity to show us something new.

It’s also the conceit for the game’s core mechanic, which limits you to one turtle at a time as you fight your way through legions of Foot Clan goons. Objectives are usually to survive a certain number of turns or to defeat certain starred enemies. The stages are isometric grids like you’ve seen in lots of tactics games, but limiting you to one character at a time means a lot of focus on prioritization and crowd control. You’re always outnumbered, but they’re always outmatched. The stages are designed with a particular turtle in mind, which is explained by the story: Donatello is investigating happenings underground, so each of his stages take place in the sewer, while Raphael’s take place across the rooftops, and so on. These differences are mostly cosmetic, but some are more substantial. Hopping along rooftops of a Raphael stage requires you to reach the edge of one roof to clear another, for example, and Donatello’s sewer stages are rife with toxic waste which is, thankfully, purple.

Like the stages, the power sets of the turtles are neatly differentiated according to their personalities, which is a heck of a trick considering they all need to be capable of handling waves of enemies on their own. Michelangelo is particularly acrobatic, as his abilities focus mostly on leaping over enemies to do damage and juggle them. Raph, meanwhile, is super aggressive, gaining an extra action point every time he KOs an enemy. Leonardo has very limited range but he’s a powerhouse, since each enemy he KOs gives him a stack of “Radical” energy to make his next attack stronger. My personal favorite, in the cartoon and this game, was Donatello, who has extended reach thanks to his bo staff, along with a stun bomb that electrifies a section of floor and makes it deadly ground against enemies. Paired with his kunai, which can stun an enemy into staying in place, he’s the most defensive fighter, able to turn the battlefield hazardous and then force enemies to stay put.

And while the battlefields would seem to be similar to any other tactics game, this TMNT iteration gives them a kinetic twist. The stages themselves “mutate” over time, as new areas of the battlefield open up and others fall away. Anyone (including you) stuck in a red zone when it cycles out is instantly killed, and this clever twist encourages you to keep moving. Other times, hazards like cars will drive across the field, damaging anything in their path. You can even sometimes knock enemies off the edges of stages.

It’s a tactics game that feels infused with the spirit of the classic arcade brawlers, even down to a giant “GO!” appearing on-screen when a piece of the level is about to cycle out. Leonardo’s stages, which largely take place across subway tunnels, are the best example of the concept. You’ll be fighting among benches at the station, and then see a subway car pull up, move into it, and then sense the train “speed” away when the station disappears.

The story focuses on the turtles’ frustration with each other, and it’s relatable without ever feeling too self-serious. The writing gets at the heart of their relationships, showing that they have real affection for each other even if they tend to get on each others’ nerves. And it captures the characters themselves very well, like how underneath the gruff exterior Raph is a big soft-shell for his brothers.

The story of bickering brothers reconciling to take on a threat to the city is predictable, but well done. However, the gameplay application of it felt somewhat underwhelming. When the turtles do join forces, you’re still just playing as a single character. Tactical Takedown finds a clever and heartfelt way to illustrate the idea, but it still felt like a head-fake from what the game had been building up to. This may just be a product of its limited scope, but I had been envisioning coming up with complex strategies that would reward my familiarity with all four turtles’ abilities. Instead, what I got was essentially a single super-powered combo character.

TMNT Tactical Takedown

Gallery

Similarly, the ability to swap loadouts feels half-baked. You can purchase extra abilities for the turtles in the shop, using points accrued from your campaign missions. But the shop is never front-and-center in the campaign menu, so it’s very easy to miss it entirely while making your way through the missions. I bought a few abilities but mostly made my way through the campaign using the default kits. I never felt like I needed to really shift my strategy or try different abilities, because the missions were perfectly doable without using the shop at all. The handful of options for each turtle seemed aimed at giving each of them a secondary strategic hook, but they didn’t feel vital.

Imagine sitting on the floor in front of your TV watching the pilot episode for Teenage Mutant Ninja Turtles in the 1990s, and that’s how it feels to play TMNT: Tactical Takedown. All the elements are there, you had a great time while it lasted, but you can sense it’s really the rock-solid foundation for something much grander. The game itself is a great distillation of some radical concepts, but it also feels like it’s straining against its own limitations. Nonetheless, this is a great start to what I can only hope becomes another way to spend time with the turtles.



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May 22, 2025 0 comments
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