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What’s Next as Bitcoin Retests 110-Day Bear Flag Bottom

Elendu Benedict
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What’s Next as Bitcoin Retests 110-Day Bear Flag Bottom

Bitcoin has dropped to a critical price point in a long-forming bear flag amid weak price action, and speculation of a breakdown is building.

This bull flag bottom comes as Bitcoin (BTC) has declined by over 4% since the start of this week. It is on course for its fourth consecutive daily red candle and third straight downtrend week, with the price looking weak since the rejection from the 200-day MA earlier in May.

Key Points

  • Bitcoin has dropped to a critical price point in a long-forming bear flag amid weak price action.
  • BTC entered this bear flag in February and has stayed within it for 110 days.
  • The heavily negative sentiment would not have much effect on such a strong bearish formation on higher timeframes.
  • When Bitcoin last consolidated within a bear flag for at least 100 days, it dropped 57%.

Bitcoin Nears Strong Support

CryptoCon shared in a recent analysis that Bitcoin is near the bottom of a bear flag on the daily chart. The recent downtrend has forced a retest of the structure’s lower support, an area that has held prices for 110 days.

BTC entered this bear flag in February, dropping to the local support near $60,000. Since then, the cryptocurrency has consolidated within the flag, making higher highs and higher lows. Now at this crucial support, the analyst expects a breakdown to much lower prices.

Bitcoin Bear Flag Formation/CryptoCon
Bitcoin Bear Flag Formation/CryptoCon

Aside from the obvious weakness, another reason CryptoCon is predicting a bearish outcome is that Bitcoin has recorded the second major retest of the upper boundary. The coin made the first visit to the ascending resistance on March 16, when it climbed to $76,000.

The second was the recent ascent to $82,800 on May 6, and it has since dropped 11% to its current price of $73,700.

Bitcoin Breakdown Despite Negative Sentiment

Notably, market sentiment has a way of affecting market trends. When the crowd is overly negative, the market usually moves in the opposite direction. However, CryptoCoin does not see that preventing the impending breakdown.

The analyst highlighted that this is the longest bear flag since November 2021. As such, the heavily negative sentiment would not have much effect on such a strong bearish formation on higher timeframes.

While he did not provide the target, history provides context. When Bitcoin consolidated within a bear flag for at least 100 days, it dropped considerably. For context, the crypto asset entered a bear flag in January 2022, stayed for 100 days, then broke down in April 2022.

Subsequently, Bitcoin dropped from $40,794 to $17,585, representing a nearly 57% crash. If history repeats, the asset could fall to $31,500 from its current price of $73,700. Notably, this is well above the $10,000 target for Bloomberg’s analyst Mike McGlone.

Storm Before the Calm?

Meanwhile, many analysts view the current market as the storm before the calm. Historically, this is part of the crypto winter, where prices trend sideways for a prolonged period of time to consolidate on earlier gains.

Interestingly, BTC eventually recovers from this phase. Even CryptoCon’s chart analysis shows this. After a series of bear flags and capitulation between November 2021 and November 2023, the coin entered a distribution channel. Eventually, a structural shift started from there, spurring the rally from $15,000 to its current all-time high of $126,200.

XLM Surges 41%, Will XRP Follow in June? Analyst Points to Historic Correlation

Abdulkarim Abdulwahab
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XLM Surges 41%, Will XRP Follow in June? Analyst Points to Historic Correlation

The price of Stellar (XLM) has been on a tear in recent days, and analysts are watching to see whether XRP will follow suit.

In a tweet, analyst Kevin Cage asked whether XRP could be preparing for a breakout similar to XLM’s recent rally. He highlighted the historic correlation between the two assets.

“Will XRP follow XLM in June? Normally they’re correlated,” Cage wrote while sharing side-by-side TradingView charts of both cryptocurrencies.

Key Points

  • XLM jumped 41% this week, sparking speculation that XRP could soon follow with a similar breakout.
  • Analyst Kevin Cage pointed to the long-standing price correlation between XRP and XLM.
  • While XLM surged on strong momentum, XRP remains stuck below key resistance despite positive market news.
  • Some analysts expect XRP to rally 30% to 35% by June, potentially pushing the price toward $1.76.

XLM Surges 41% While XRP Lags

The charts showed XLM posting a strong breakout after months of sideways trading. Specifically, Stellar jumped more than 22% in a single day today, extending its weekly gains to 41%. This has pushed its year-to-date performance back into positive territory at 3.7%.

XRP, however, has continued to trade within a tighter range near $1.31 despite a modest 2.54% daily increase. CoinMarketCap data show XRP is down 3.8% over the past week, 5.62% over the past month, and 28.5% since the start of the year.

Why Traders Compare XRP and XLM

XRP and XLM have long been viewed as closely connected assets within the crypto market due to their shared focus on payments and cross-border transfers.

Because of that relationship and shared origin, traders frequently monitor one token for clues about the other’s potential price direction. Historically, rallies in XRP have sometimes been followed by similar moves in XLM, although not always at the same pace.

Kevin Cage’s comparison has therefore suggested that XRP could attempt a delayed breakout if buying momentum continues across the broader market.

Momentum Divergence Raises Questions

The TradingView charts also highlighted a sharp difference in momentum between the two assets.

XLM’s relative strength indicator surged alongside price action, signaling aggressive buying pressure. XRP’s momentum, meanwhile, remained comparatively weak as the token continued consolidating below key resistance levels.

Image

Some commentators believe XRP may need a stronger catalyst before matching XLM’s move.

Commenting on Kevin Cage’s post, veteran trader Corey Blake remarked that XLM normally follows XRP, so this situation would be the inverse. He added that he is curious to see how it plays out this time.

Meanwhile, X user Ricardo Jean remarked that XLM surged on just one piece of good news, while XRP, despite countless positive developments, can barely stay up. Jean’s remark referred to the DTCC-Stellar announcement this week regarding collaboration on tokenization and building a more interoperable financial system.

Will June Be XRP’s Catch-Up Moment?

For now, traders are closely watching whether XRP can follow the path XLM has already taken.

Some analysts are calling for a 30% to 35% upside for XRP by June, which would put the XRP price around $1.76. While significant, the coin would still remain in the red year-to-date, but the momentum could open the door for a retest of $2.

Biggest Similarity Between XRP and Tesla Right Before Tesla’s Exponential Expansion

Mark Brennan
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Biggest Similarity Between XRP and Tesla Right Before Tesla’s Exponential Expansion

XRP appears to be moving through a market phase similar to the one Tesla experienced before entering a period of exponential market expansion.

Since 2018, XRP has struggled to break above the $3 price level, and this has frustrated investors. Prominent crypto analyst EGRAG recently argued that XRP may actually be following the same structural pattern Tesla showed before its major rally. 

Key Points

  • XRP has failed to breach the $3 area since 2018, leading to frustration among investors.
  • EGRAG says XRP may actually be going through what Tesla underwent around $20 before breaking out.
  • Between 2013 and 2019, Tesla failed to breach the $20 area, leading to mental exhaustion among investors.
  • When Tesla broke out, it saw an “exponential expansion” toward new highs, the latest being $498.
  • EGRAG believes XRP could follow a similar pattern when it breaches the $3 zone.

Biggest Similarity Between XRP and Tesla

According to EGRAG’s latest analysis, the recent observation is not only about fundamentals; it also covers market structure, investor psychology, and expansion patterns.

EGRAG noted that his comparison between XRP and Tesla focuses on macro structure, psychological cycles, and expansion behavior. He stressed that XRP has already shown several signs that Tesla displayed during its earlier years. 

These include years of price compression, emotional fatigue among investors, repeated fakeouts, and holders gradually losing confidence before a major move upward. 

The market pundit highlighted that the biggest similarity between XRP and Tesla is not really the price action itself. Instead, it is the long period of psychological exhaustion that often comes before a major breakout.

XRP Still Needs to Clear Major Price Levels

In his analysis, EGRAG estimated a 50% to 60% chance that the fractal pattern could continue. However, he clarified that XRP must overcome several important technical barriers before the comparison fully plays out. 

According to him, XRP still needs to reclaim major macro resistance levels, hold above key Fibonacci zones, and survive what he calls the final liquidity reset phase.

He added that if the pattern continues, XRP’s current price action may later look less like distribution and more like a long-term re-accumulation phase before a major repricing event. 

EGRAG also pointed out that many investors sold Tesla during its slow and frustrating period, only to miss the massive rally that followed. He then raised the possibility that XRP could now be going through a very similar stage.

Tesla Spent Years Struggling Before Its Huge Rally

Meanwhile, data from EGRAG’s chart confirms the comparison. The chart shows that Tesla spent more than six years trading around the $20 area between September 2013 and November 2019. 

During the early part of that period, Tesla first climbed to about $13 in September 2013 before pulling back. The stock later recovered and reached a new all-time high of $19.43 in September 2014.

Despite reaching that peak, Tesla could not break higher in a lasting way and spent more than two years trading below the $19.43 level. In 2017, the stock finally pushed higher again and reached another all-time high of $25.80 in June 2017. 

However, Tesla once again entered another long consolidation phase below that $25.80 peak for about two more years. Several breakout attempts failed before the stock finally broke out decisively in November 2019.

That breakout in November 2019 completely changed Tesla’s direction. After moving above the $30 level, the stock entered a strong expansion phase that later pushed it to a peak of $414 in November 2021. Despite later price swings, Tesla continued setting new all-time highs over time, with the latest reaching $498 in December 2025. 

Throughout the period between September 2013 and November 2019, Tesla investors dealt with years of frustration as the stock repeatedly failed to move beyond the $20 area.

XRP Faces the Same Investor Fatigue

EGRAG’s chart overlay suggests that XRP may now be going through a very similar period around the $3 level. XRP first reached the $3 zone in January 2018, when the token climbed to an all-time high of $3.31. After that peak, XRP collapsed and spent the next seven years trading below $3.

XRP and Tesla Chart Overlay EGRAG Crypto
XRP and Tesla Chart Overlay | EGRAG Crypto

The token finally moved above its January 2018 peak in January 2025, when prices reached $3.4. However, it still failed to break above the broader $4 region. By July 2025, XRP climbed again and touched a new peak of $3.6, but it remained stuck around the same $3 area.

The repeated failure to move beyond $3 has created growing mental exhaustion among XRP investors. EGRAG’s chart compares this directly to the frustration Tesla investors experienced between September 2013 and November 2019, when Tesla repeatedly struggled to break above the $20 region. 

The chart ultimately suggests that investors who give up on XRP during this long consolidation period could end up making the same mistake many Tesla investors made before Tesla’s historic expansion phase began. However, it remains uncertain if XRP can replicate Tesla’s expansion phase.

Cardano Founder Says Banks and Insurance Firms Are Exploring RWAs on Midnight Blockchain

Lele Jima
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Cardano Founder Says Banks and Insurance Firms Are Exploring RWAs on Midnight Blockchain

Cardano founder Charles Hoskinson has disclosed that discussions are underway to bring major banks and insurance firms onto the Midnight blockchain to integrate tokenized real-world assets (RWAs).

The comments highlight Cardano’s growing ambition to position Midnight as a compliant infrastructure layer for institutional finance, particularly in tokenized deposits, yield generation, and privacy-focused blockchain applications.

Key Points

  • Cardano founder Charles Hoskinson revealed that banks and insurance companies are exploring integrations with the Midnight blockchain.
  • The initiative centers on tokenizing real-world assets directly on Midnight. 
  • Monument Bank has already disclosed plans to tokenize £250 million ($335.97 million) in customer deposits on the network. 
  • Hoskinson stated that the first wave of Cardano-Midnight hybrid applications could launch within six months. 

Hoskinson Aims to Bring More Financial Institutions to Midnight 

Speaking during an interview with David Gokhshtein, host of the Breakdown podcast, Hoskinson emphasized the rising institutional interest in Midnight, Cardano’s partner chain. 

He specifically pointed to the proposed £250 million ($335.97 million) tokenized deposit initiative from Monument Bank as evidence of increasing institutional confidence in the network. Moreover, Hoskinson revealed that discussions are already ongoing with additional banks interested in joining the initiative.

Many industry participants view tokenized deposits as the next major phase of blockchain adoption in traditional finance. Unlike stablecoins, tokenized bank deposits remain directly connected to regulated banking institutions. 

As a result, they can potentially improve settlement efficiency, transparency, and interoperability across financial systems. Hoskinson’s remarks suggest that the Cardano ecosystem is positioning itself within this emerging sector.

Insurance Companies Are Exploring RWAs Yield Opportunities on Midnight 

Beyond banking institutions, Hoskinson also disclosed that several insurance companies are evaluating the possibility of placing RWAs on Midnight to generate yield. Consequently, this could significantly expand Midnight’s role within traditional finance.

Members of the Cardano community believe the potential involvement of insurance firms could be substantial. Insurers typically manage enormous pools of capital and often seek relatively stable yield-generating investments. Therefore, if these firms adopt Midnight as blockchain infrastructure for tokenized RWAs, the network could eventually host billions of dollars worth of tokenized assets.

Cardano-Midnight Hybrid Applications Could Launch This Year

Hoskinson further revealed that the first generation of hybrid Cardano-Midnight applications could launch within the next six months. These applications will first deploy on Cardano, then transition to Midnight, according to him. 

The hybrid model suggests developers will combine Cardano’s existing blockchain infrastructure with Midnight’s privacy-focused capabilities. In turn, this approach could strengthen Cardano’s position within the institutional blockchain sector.

Since Midnight’s introduction, the network has continued attracting institutional attention, including partnerships with Google and AlphaTON Capital. Now, Hoskinson and the Midnight Foundation are exploring opportunities to onboard major financial institutions to tokenize real-world assets directly on the blockchain. 

Cardano Founder Says “I Firmly Believe the Future Will Be Decentralized,” Explains Why He Is Still in Crypto

Abdulkarim Abdulwahab
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Cardano Founder Says “I Firmly Believe the Future Will Be Decentralized,” Explains Why He Is Still in Crypto

Charles Hoskinson says he remains deeply committed to the blockchain industry because he believes decentralization can reshape the global financial system and improve economic access for billions of people.

He shared this view at the Bermuda Digital Finance Forum in May 2026. The Cardano founder reflected on his 12-year journey in crypto and explained why he continues to attend conferences and promote blockchain adoption around the world.

Key Points

  • Charles Hoskinson says decentralization can expand financial access for billions worldwide.
  • Hoskinson called blockchain a “truth engine” built on transparency and open systems.
  • The Cardano founder predicts crypto could grow into a $100 trillion industry.
  • Hoskinson says blockchain can give countries and citizens more financial independence.

Hoskinson Says Crypto Mission Is Bigger Than Wealth

Hoskinson said his goal in crypto was never about making wealthy investors even richer. Instead, he argued that blockchain technology should give every person an economic identity and equal access to financial systems, regardless of where they were born or what language they speak.

According to Hoskinson, open financial systems can also help create peace because people understand each other better when they trade and do business together.

He also spoke about his travels across more than 75 countries, including visits throughout Africa, South America, Asia, and Mongolia.

Hoskinson said many of his strongest relationships and most meaningful experiences came from working directly with communities and businesses around the world.

Blockchain as a “Truth Engine”

During the speech, Hoskinson described blockchain technology as a “truth engine” because transactions are timestamped, transparent, and immutable.

He argued that no previous generation had access to tools with this level of transparency and financial openness.

According to Hoskinson, modern blockchain systems could remove many of the barriers that leave people unbanked or trapped in high-interest financial systems.

“There’s no reason for anyone in 2026 to be unbanked,” he said while discussing decentralized finance and digital identity systems.

Hoskinson also referenced Cardano’s privacy-focused Midnight project. He said the industry must continue building open systems that protect users while expanding financial access.

Hoskinson Criticizes Global Financial Control

The Cardano founder also criticized the influence of global financial institutions over national monetary systems. He shared a story about speaking with the prime minister of Georgia regarding the possibility of issuing a digital version of the country’s currency.

According to Hoskinson, the effort faced pressure from the International Monetary Fund, which allegedly warned against moving forward with the idea.

Hoskinson used the example to argue that many governments are beginning to realize they do not fully control their own monetary systems under the current financial structure.

He suggested blockchain technology could give countries and citizens greater independence through decentralized systems.

“Not the American Way, Not the Chinese Way”

Hoskinson said blockchain creates an opportunity for what he called a “third way” for global finance.

Rather than following either centralized Western or Chinese financial models, he believes open blockchain networks can create a global economy where everyone participates equally.

The Cardano founder predicted the crypto industry could grow from roughly $2.5 trillion today into a $100 trillion ecosystem over the next 12 years as billions more people join decentralized financial systems.

Accordingly, he encouraged policymakers, financial institutions, and businesses to embrace open blockchain systems instead of relying entirely on closed financial infrastructure.

XRP Buy Zone as Price Enters Critical Moment

Elendu Benedict
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XRP Buy Zone as Price Enters Critical Moment

XRP has entered a critical price zone, as recent weak price action has seen it drop below a key support trendline on the daily chart.

XRP has dropped like the rest of the market, chalking off 3% of its price in the past 24 hours. The asset’s nearly 7% drop in the past seven days has now placed it in an area of interest, where bulls need to step in quickly, or the current price downturn continues.

Key Points

  • XRP has entered a critical moment, dipping below a multi-month symmetrical triangle.
  • This structure has kept XRP in check since January 31, with the coin forming lower highs and higher lows within the triangle.
  • Unless bulls step in quickly and push XRP into the triangle again, the target appears to be much lower prices.
  • The area between the 0.786 and 0.854 Fibonacci levels, around $1.08 to $0.86, is the next buy zone. 

XRP Loses Multi-Month Support

CasiTrades highlighted in a recent X post that XRP has entered a critical moment. She expressed her restlessness as the fifth-largest cryptocurrency by market cap dipped below a multi-month symmetrical triangle.

This structure has kept XRP in check since January 31, with the coin forming lower highs and higher lows within its upper resistance and lower support boundaries. However, a string of daily bearish candles has seen it drop below the multi-month ascending support to areas the analyst described as “critical” for prices.

Notably, CasiTrades had earlier warned of this in earlier analysis, highlighting the coin’s inability to break above the $1.65 resistance area. This zone, near the golden pocket Fibonacci retracement level, had persistently capped upside attempts since February. A weaker uptrend after each rejection also showed that momentum was gradually fading.

Eventually, bears took full control, successfully breaking the lower support barrier. With that broken, XRP seems primed for more downsides.

Analyst Reveals XRP Buy Zone

Unless bulls step in quickly and push XRP into the triangle again, the target appears to be much lower prices. Even CasiTrades agrees with this, as she highlighted the next buy zone should the bearish trend continue.

She identified the green zone in an accompanying chart as the area where buyers should start reentering the market. Per the chart, this area lies between the 0.786 and 0.854 Fibonacci levels, around $1.08 to $0.86. From the current price, it would require a 15% to 32% pullback to reach those levels.

XRP Buy Zone/CasiTrades
XRP Buy Zone/CasiTrades

On what happens next, the chart provides context. Her analysis expects a rapid resurgence from the green zone to retest the key resistance level near $1.65. CasiTrades had earlier identified this area as a make-or-break point for XRP, noting that bears remain in control unless the coin breaks above this price level.

Weak Derivative Market but Spot Flow Suggests Accumulation

Current market data shows that the weak price action has wiped out $19.22 million worth of leveraged positions in the past 24 hours, with $18.8 million being long bets. Meanwhile, short positions have suffered the most losses in the past 4 hours following the slight rebound from recent lows.

XRP 24-Hour Liquidation/Coinglass
XRP 24-Hour Liquidation/Coinglass

The liquidation seems to have affected futures flows, as more futures contracts were closed than opened during the same period.  Futures inflows stood at $763.5 million and outflows at $865 million, representing a net change of $102 million. Aside from liquidations, traders also seem to willfully close positions, probably as a proactive safety measure amid increased price volatility. 

Meanwhile, spot flows show a more optimistic scenario. Millions of XRP are leaving exchanges, as market participants appear to be buying the dip. Inflows of $127.30 million and outflows of $142.16 million in the past 24 hours suggest that a net of 14.86 million in XRP left trading platforms globally.

Bitcoin Could Record Its Largest Weekly Loss in Years if It Breaks Below This Support

Mark Brennan
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Bitcoin Could Record Its Largest Weekly Loss in Years if It Breaks Below This Support

Bitcoin is currently retesting the support trendline of a multi-year wedge and losing it could lead to its largest weekly candle loss in years.

MichaelXBT, a well-known crypto market commentator, was first to call attention to this structure. His commentary comes as Bitcoin (BTC) collapses below the $74,000 price mark for the first time in over a month amid the latest market-wide pullback.

Key Points

  • The latest market-wide pullback has dragged Bitcoin below the $74,000 mark for the first time since April.
  • Amid the downturn, Bitcoin is now retesting the support trendline of an ascending wedge on the 1-month chart.
  • BTC could lose this support if it drops below the pivotal psychological $70,000 mark.
  • MichaelXBT suggests that if Bitcoin ever drops below the support, it could record its largest weekly candle loss in years.

The Bitcoin Rising Wedge

Data from MichaelXBT’s chart shows that Bitcoin has been trading within a rising wedge since the 2021 bull market. 

For the uninitiated, a rising wedge is a pattern in which price moves upward between two converging trendlines, with the lower line rising faster than the upper. The pattern typically indicates that the bullish momentum is weakening and the asset could see bearish price action if it breaks below the lower trendline.

Notably, the lower trendline emerged as a reliable support band in mid-2017 and has continued to cushion against steeper declines for Bitcoin. Meanwhile, the upper trendline started forming during the 2021 bull run, effectively leading to the formation of the rising wedge.

Bitcoin Rising Wedge MichaelXBT
Bitcoin Rising Wedge | MichaelXBT

Bitcoin Retests the Wedge Support

Since the rising wedge took shape, Bitcoin had only retested the support trendline once during the 2022 bear market before now. Specifically, the premier crypto asset retested this area when it dropped to $15,400 in November 2022 on the back of the FTX collapse. However, it found strength and recovered.

Now, Bitcoin is again retesting this support area amid the ongoing market downturn. The crypto asset retested the trendline when it collapsed to $60,000 in early February 2026. However, it recovered almost immediately. It again retested the trendline at $64,900 in March and $65,000 in April. Each time, it found strength and bounced back.

With the latest price collapse, bears are now eyeing this support again. A drop to $70,000 would mark the retest of the trendline, and if Bitcoin breaks below this price area, bears could take control of the market. “If that level breaks, bears will be handsomely rewarded,” Michael said in his analysis.

According to his analysis, if the support trendline gives way, Bitcoin could record its largest weekly red candles in years. He insisted that history would be made, but failed to provide any context on the potential extent of this resulting downturn. 

Bitcoin Weakness Not a Recipe for New Lows

Meanwhile, crypto market veteran Michaël van de Poppe suggested that while Bitcoin is currently weak, this weakness does not necessarily mean the crypto asset will collapse to new lows. “#Bitcoin showing weakness isn’t a recipe for a new low, as of yet,” van de Poppe said in a recent analysis.

Bitcoin Daily Chart Michael van de Poppe
Bitcoin Daily Chart | Michael van de Poppe

According to him, what the market is currently undergoing is a “standard approach” that occurs toward the end of the month. He noted that during this period, asset managers engage in rebalancing efforts, which could lead to market corrections.

Van de Poppe pointed out that Bitcoin faced rejection at $77,000, and the rejection led to the ongoing downturn. He noted that if the crypto asset fails to hold his crucial support area, it could collapse further toward the lower ends of the $60,000 mark.

SongMarketCap Founder Criticizes Cardano Community Over Lack of Support for Snek.fun

Lele Jima
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SongMarketCap Founder Criticizes Cardano Community Over Lack of Support for Snek.fun

SongMarketCap founder Jure Karamarko has criticized the Cardano community for failing to support meme coin creator platform Snek.fun in the same way the Solana community rallied behind Pump.fun.

According to Karamarko, this lack of collective support continues to limit Cardano’s growth, visibility, and ability to attract major partnerships.

Key Points

  • SongMarketCap founder Jure Karamarko criticized the Cardano community for failing to support Snek.fun the way Solana users supported Pump.fun. 
  • Karamarko said Solana’s ecosystem momentum has helped attract partnerships and integrations with companies such as Visa, PayPal, and Circle. 
  • Shortly after launch, Snek.fun attracted significant traction, with more than 20,000 users joining within minutes.  
  • While Snek.fun allocates up to 1% of trading fees to creators, Pump.fun offers between 0.05% and 0.95% in creator rewards. 

Community Support for Pump.fun Attracted Visa and PayPal to Solana: Karamarko 

Taking to X, Karamarko stated that the Solana community aggressively supported PumpFun by promoting, trading, and sharing the platform across social media. As a result, the ecosystem generated massive trading volume, which later translated into attention, liquidity, and broader ecosystem development.

According to Karamarko, this growth eventually helped Solana secure partnerships and integrations with major companies, including Visa, Circle, Western Union, PayPal, Worldpay, and Shopify.

Criticism Over Lack of Support for SNEK and SnekFun

In contrast, Karamarko argued that the Cardano community has failed to support ecosystem projects with the same intensity, particularly popular meme coin SNEK and its meme coin creator platform, Snek.fun.

He noted that despite the team recently introducing a creator fee model, influential figures within the Cardano ecosystem largely ignored the development. Consequently, Karamarko criticized several prominent Cardano voices for failing to publicly support the initiative despite frequently discussing ecosystem growth and adoption.

Although Karamarko acknowledged that meme coins are speculative and often fail, he argued that Solana likely would not have achieved its current level of ecosystem growth if its community had rejected meme-driven activity from the beginning.

Pump.fun Gains Significant Traction Despite Low Creator Fee Model 

For context, the team behind SNEK launched Snek.fun as a meme coin creator platform that serves a similar role on Cardano to what Pump.fun provides on Solana. Shortly after launch, Snek.fun gained significant traction, attracting more than 20,000 users within minutes.

In addition, Snek.fun offers creators a more attractive fee structure than Pump.fun. While Snek.fun allocates 1% of trading fees to creators, Pump.fun offers between 0.05% and 0.95% in creator rewards.

Despite this difference, creators continue to flock to Pump.fun, where users have already deployed more than 8 million coins through the platform. 

Why DTCC’s Stellar (XLM) Move May Not Be Bad for XRP

Abdulkarim Abdulwahab
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0
Why DTCC’s Stellar (XLM) Move May Not Be Bad for XRP

Crypto founder Jay Nisbett says the recent partnership between Depository Trust & Clearing Corporation and Stellar (XLM) is not bad news for XRP.

Some XRP investors recently became worried after DTCC announced plans to bring tokenized DTC-custodied assets onto the Stellar network by 2027. However, Nisbett believes many people are misunderstanding the move.

Key Points

  • DTCC’s Stellar partnership does not mean XRP is being replaced, according to crypto founder Jay Nisbett.
  • Nisbett says DTCC wants multiple blockchains like Stellar, XRPL, and Ethereum to work together.
  • Ripple’s products, including RLUSD and Hidden Road, still position the company strongly in finance.
  • DTCC reportedly plans to keep settlement within its own systems while using blockchains for liquidity.

DTCC Wants Multiple Blockchains, Not Just One

According to Nisbett, DTCC is not trying to pick one blockchain winner. Instead, the company wants different blockchains to work together.

He explained that Stellar is only one of several networks DTCC plans to use, alongside chains like XRP and Ethereum.

Nisbett compared the situation to stablecoins, saying tokenized assets become more useful when they can move across many chains instead of staying on one network.

He also stressed that DTCC still controls the main settlement system for U.S. stocks. Public blockchains like Stellar are being added as extra trading and liquidity layers, while final settlement remains inside DTCC’s own infrastructure.

Because of this, Nisbett argued that Stellar is not “replacing” XRP or Ripple.

Ripple Still Has a Strong Institutional Position

Nisbett said Ripple is still well-positioned in institutional finance. He pointed to products like Ripple Prime and RLUSD as important parts of Ripple’s long-term strategy.

Hidden Road, which Ripple acquired earlier this year, already participates in the National Securities Clearing Corporation ecosystem and helps clear over-the-counter broker transactions.

According to Nisbett, Ripple’s broader plan could allow institutions to manage treasury services through Ripple Prime, use RLUSD as collateral, connect different blockchains through systems like Chainlink, and eventually settle transactions through infrastructure linked to DTCC.

He believes the biggest value in tokenized finance will come from settlement systems, not simply from hosting assets on blockchains.

DTCC May Not Need New Crypto Laws

Nisbett also argued that DTCC may not need major new legislation to continue expanding into blockchain technology.

He claimed DTCC received SEC no-action relief in December 2025, allowing it to test tokenized asset services without going through some traditional regulatory filings.

According to him, this gives DTCC room to experiment with public blockchains like Stellar and XRPL while crypto regulations are still being discussed.

Nisbett also mentioned DTCC patents that reportedly reference XRPL and XRP compatibility for cross-chain liquidity.

He added that DTCC’s pilot program will continue through 2028, which he believes gives the company enough stability to continue integrating blockchain technology regardless of political changes.

What DTCC Announced

The debate started after DTCC confirmed its partnership with the Stellar Development Foundation.

DTCC said the collaboration will support the tokenization of DTC-custodied assets on the Stellar network and help build a more interoperable digital financial system.

The company also said the initiative is part of a strategy to support multiple blockchain networks rather than rely on a single chain.

Cardano Millionaires Collectively Hold 25.11B ADA, Highest Since December 2017

Elendu Benedict
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Cardano Millionaires Collectively Hold 25.11B ADA, Highest Since December 2017

While retail traders panicked, Cardano millionaires have been buying the fear, pushing their holdings to levels last seen in nine years.

Data from Santiment Intelligence shows that one of the largest Cardano (ADA) holder cohorts has continued increasing their exposure, despite market uncertainties. Specifically, wallets containing at least one million ADA are now controlling the biggest share of supply since December 2017.

Key Points

  • Wallets containing at least one million ADA collectively hold roughly 25.11 billion ADA, the highest in nine years
  • These Cardano millionaires now hold nearly 67.5% of ADA’s circulating supply, a level not seen since July 2020.
  • This accumulation has continued despite the weak Cardano price action.
  • History shows that persistent accumulation among larger holders is a bullish indicator, especially for patient holders.

Cardano Millionaires Expand Holdings

The latest on-chain data shows these high-value addresses collectively holding roughly 25.11 billion ADA, marking their highest combined balance in over nine years. With the persisting accumulation, these wallets now hold nearly 67.5% of ADA’s circulating supply, a level not seen since July 2020.

Notably, this is a slight improvement from the 67.47% reported earlier in the month when they collectively held 25.09 billion. This meant that these whales had added over 200 million ADA in days, even as prices remained unstable.

A shared chart highlights a consistent increase in accumulation among larger Cardano holders since early 2021. After declining from 2017 highs, the total amount of ADA held by millionaire wallets began recovering and has now pushed toward fresh multi-year highs.

Cardano Millionaires Boost Stash to 25.11B ADA/Santiment
Cardano Millionaires Boost Stash to 25.11B ADA/Santiment

ADA Whale Accumulates Despite Price Weakness

What is impressive about this accumulation is that it continued despite weak price action. ADA’s price peaked at $3.10 in September 2021, and while these wallets’ holdings dropped slightly as its price fell, it recovered and continued trending higher.

Currently, Cardano remains well below its historic peak levels, dropping over 90% to the price of $0.23. Yet, accumulation has not slowed, with whales leveraging the decline to buy more at a discounted price.

This has created a notable divergence between market sentiment and whale accumulation. While retail enthusiasm around Cardano has cooled compared to previous cycles, larger wallets appear to have continued building exposure quietly in the background.

Long-Term Confidence in Cardano Intact

Notably, market activities among large wallets usually attract attention because these addresses typically hold longer than retailers. Santiment noted that when holdings among top wallets continue increasing during weaker price periods, it comes across as a sign of growing confidence in ADA’s long-term trajectory.

This does not automatically guarantee stronger price performance in the near term. However, the analysis noted that history shows that persistent accumulation among larger holders is a bullish indicator, especially for patient holders.

In the meantime, ADA is struggling like the rest of the market, down 5% in the past 24 hours. Trading volume has increased 28% to $537 million, while open interest has dropped 4% to $497 million in the same timeframe. 

Most importantly, Cardano continues to hold the $0.22 local support despite price weakness, which is a positive sign. Breaking this level could spark further downsides and dampen hopes of a rebound in the near-term.

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