Today's Cryptocurrency Prices by Market Caps
The global cryptocurrency market cap today i $2.71T
Market Cap
$2.71T
24h Trading Volume
$88.96B
BTC Dominance
58.30%
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Latest Crypto News
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Grayscale: Hyperliquid's $800M 2025 Rise Could Make It a 24/7 DeFi Market Juggernaut
Hyperliquid’s rapid rise from a niche perpetual-futures venue to a potential backbone of decentralized finance is drawing fresh attention from Wall Street analysts. In a new report, Grayscale paints Hyperliquid (HYPE) as more than just another crypto exchange. Launched less than three years ago as a decentralized perpetual futures platform, the protocol “generated roughly $800 million in revenue in 2025” and handled about $2.9 trillion in perpetual-futures volume that year, the firm said. Hyperliquid now carries roughly $7 billion in open interest. “If it continues to execute well … we think Hyperliquid could become a financial services juggernaut,” Grayscale wrote. Perpetual futures — or perps — are a core part of crypto trading: contracts that let traders bet on price moves without expiry. The market has ballooned into one of the sector’s largest segments, averaging around $200 billion in daily volume this year, according to Grayscale. Until recently, centralized exchanges like Binance and Bybit dominated this space. Hyperliquid is notable for being one of the first decentralized exchanges to compete at that scale while offering self‑custody and on‑chain transparency. But Grayscale argues Hyperliquid’s ambitions go beyond perps. Through its HIP‑3 and HIP‑4 frameworks, the platform now supports tokenized equities, commodities and prediction-style markets — effectively letting developers spin up new trading venues on the same blockchain rails. Those products are already behaving like 24/7 markets for assets that have historically traded only during Wall Street hours. A separate note from FalconX reached similar conclusions last week, suggesting Hyperliquid is beginning to vie with traditional incumbents such as CME Group and newer prediction-market operators like Kalshi and Polymarket. FalconX strategist Martin Gaspar highlighted traction in HIP‑3 markets, including growing interest in pre‑IPO markets. Regulation will be a major determinant of how far Hyperliquid can go. The platform currently blocks U.S. users because perpetual futures remain in a regulatory gray area under U.S. law. Both reports say that shifting regulatory guidance — and expressed interest from regulated players such as Coinbase, Robinhood and Kraken — could pave the way for perpetual-style products to be offered in the U.S. under a compliant model. Risks remain. Grayscale flagged the HYPE token’s high volatility and cautioned that Hyperliquid’s long-term growth is closely tied to future regulatory developments. Still, analysts contend Hyperliquid has moved beyond the label of “just another exchange.” If it can navigate compliance hurdles and keep scaling its market infrastructure, the platform might represent an early example of a 24/7 global financial marketplace built on blockchain rails — a potential disruptor to parts of traditional exchange and derivatives markets. Read more AI-generated news on: undefined/news
Spot XRP ETFs Pull In Cash as Bitcoin and Ether ETFs Bleed Billions
While bitcoin and ether ETFs bled billions at the end of May, U.S.-listed spot XRP ETFs quietly pulled in fresh capital — a small but notable divergence that traders and strategists are watching. SoSoValue data show spot XRP ETFs posted $11.88 million in net inflows on May 29, extending a week of positive flows for the category. By contrast, spot bitcoin ETFs recorded $125.31 million in net outflows that day — the tenth consecutive day of redemptions — and ether funds lost another $17.91 million after bleeding $121.35 million the prior day. Leading the XRP inflows on May 29 were Bitwise’s XRP ETF with $7.36 million, Canary’s XRPC with $2.38 million, and Franklin’s XRPZ with $2.14 million. Total net assets in the U.S. XRP ETF cohort stood at roughly $1.12 billion, about 1.37% of XRP’s market capitalization, and cumulative net inflows into the product line have hit about $1.42 billion since inception. By comparison, bitcoin ETFs still dominate with more than $94 billion in net assets. Looking at the week of May 20–29, the contrast is stark: U.S. spot XRP ETFs added roughly $35 million, while bitcoin ETFs saw approximately $1.70 billion of outflows and ether ETFs shed about $309 million. The divergence highlights cooling institutional appetite for bitcoin and ether after months of volatile price action, even as some investors continue to add XRP exposure. Part of XRP’s current narrative is clearer policy and product messaging around U.S. market structure and ETF adoption, which may be helping flows. There’s also an older, unresolved story that could represent a second potential institutional demand channel: a Bloomberg report from October 2025 said Ripple Labs was leading plans for a SPAC to raise at least $1 billion to build a digital asset treasury that would accumulate XRP, with Ripple expected to contribute some tokens. If that structure moves forward, it would rank among the largest known XRP treasury vehicles. CoinDesk has reached out to Ripple for confirmation and an update on whether that SPAC plan advanced, changed or was shelved. The broader crypto-market backdrop matters: treasury-style token accumulators and public companies buying crypto via SPACs, reverse mergers, and equity issuance were a big theme in 2025, flourishing while token prices rose and investors paid premiums for balance-sheet exposure. Bottom line: XRP is now showing two potential demand channels — public-market ETF inflows and the possibility of a large treasury-style accumulation — even as larger bitcoin and ether funds experience significant redemptions. UPDATE (May 30, 12:08 UTC): An earlier version of this story emphasized the October 2025 Bloomberg report about Ripple’s planned $1 billion XRP treasury raise. CoinDesk has reached out to Ripple for confirmation on whether the plan remains active. Read more AI-generated news on: undefined/news
Ceasefire Hopes Lift Stocks, But Crypto Lags as Spot‑Bitcoin ETF Inflows Cool
Stocks and commodities rallied this week on hopes of a U.S.-Iran ceasefire extension, but the biggest cryptocurrencies largely sat out the party — dragged down by cooling spot‑Bitcoin ETF inflows. Macro snapshot - The S&P 500 notched a ninth straight weekly gain, its longest run since 2023 and one of the rare streaks seen over the past four decades, leaving the index roughly 20% above March lows. - Brent crude settled near $92 a barrel as traders priced in reduced Middle East risk. U.S. Treasuries also climbed, trimming some of their earlier war‑driven losses. The Iran angle - Markets cheered progress toward a 60‑day ceasefire extension between the U.S. and Iran. President Donald Trump said he was prepared to make a “final determination” on a preliminary agreement but reiterated tough conditions: Iran would have to abandon its nuclear program, surrender enriched uranium and open the Strait of Hormuz. The deal still requires his sign‑off, and those demands appear to exceed what Iran has publicly signaled it will accept — meaning the rally could reverse on a single negative headline. Crypto performance - Bitcoin slipped about 2.6% on the week to roughly $73,466, and ether fell about 2.5% to near $2,011. Other major tokens also softened: Solana (SOL) slid 2.2% to $82.42, while TRON’s TRX posted the worst weekly decline among the top 10, down about 5.6%. Dogecoin finished roughly flat at $0.1009. - The decliners came even as macro conditions improved, with analysts and traders pointing to cooler spot‑Bitcoin ETF inflows as an additional drag on price momentum. Notable outliers - Smaller‑cap and niche tokens bucked the trend: Hyperliquid’s HYPE jumped 19.4% to $65 amid growing sentiment for the asset — a surge fueled in part by praise from Intercontinental Exchange CEO Jeffrey Sprecher, who told a Bernstein conference the decentralized perpetuals venue is “bigger than NASDAQ.” Binance’s BNB rose about 1.9%, and XRP eked out a 0.7% weekly gain. Bottom line Even with stocks, oil and bonds buoyed by hopes of de‑escalation in the Middle East, crypto’s rally faded this week as ETF inflows cooled and risk appetite shifted. The broader macro advance still depends on fragile diplomacy — and a single reversal in headlines could quickly flip market sentiment. Read more AI-generated news on: undefined/news
Quantum Threat to Crypto: 'Harvest Now, Decrypt Later' Targets Wires, Not Wallets
Headline: Quantum threat to crypto may be coming through the wires, not your wallet keys The crypto industry’s debate about quantum computers has largely fixated on one fear: a future quantum machine that can reverse a public Bitcoin address into a private key. But a venture capitalist and quantum-hardware investor says that’s the wrong half of the problem — and the more urgent danger is already traveling across networks today. “The financial system’s most dangerous vulnerability isn’t stored data, it’s the data moving between institutions right now,” Andrew Gault, CEO of networking firm ZeroTier and a founding partner of deep‑tech investor 7percent Ventures, told CoinDesk. Gault’s firm backs companies including British quantum-computing startup Universal Quantum. Harvest-now, decrypt-later: the stealthy attack Gault warns sophisticated adversaries are quietly collecting network traffic — interbank messages, payment authentication records and digital signatures — not because they need to read it today, but because they can store it cheaply and decrypt it later once quantum hardware matures. That strategy, known in cryptography circles as “harvest now, decrypt later,” shifts the threat from static wallet keys to the authentication and proof layers that define ownership and liability. Google’s March quantum research, which showed a sufficiently powerful quantum computer could extract a Bitcoin private key from an exposed public key in roughly nine minutes, amplified concerns about public keys. That work and subsequent conversations focused on the roughly 6.9 million BTC in addresses with exposed public keys and the absence of a coordinated post‑quantum migration plan for Bitcoin. But Gault and other security teams say wire‑level signing infrastructure — the authentication packets and signatures moving between exchanges, bridges, custodians and banks — represents a broader, higher‑value attack surface. These signed records don’t just authenticate transactions; they are the legal and operational proof of who authorized what. Major tech and finance actors are already treating the problem as immediate. Google’s security team has set 2029 as its target to complete a post‑quantum cryptography migration, citing progress in quantum hardware and error correction. In a March post, Google security executives Heather Adkins and Sophie Schmieg explicitly reprioritized their threat model toward authentication services and digital signatures, warning that “the threat to encryption is relevant today with store‑now‑decrypt‑later attacks.” The systemic stakes are high Quantitative studies underscore the potential systemic fallout. Citi modeled a scenario in which a quantum‑enabled attack on a top-five U.S. bank’s access to the Federal Reserve’s Fedwire Funds Service could trigger a $2 trillion to $3.3 trillion cascade across the U.S. economy — a shock equivalent to a 10%–17% drop in real GDP. The Global Risk Institute, cited in Citi’s analysis, places the probability of a cryptographically relevant quantum computer arriving by 2034 between 19% and 34%. For crypto specifically, the vulnerable “wire” surface is wide: cross‑chain bridge proofs, exchange API authentication packets, signed transactions broadcast to and archived in public mempools, and the back‑channel signing traffic between cold storage and trading desks all sit on the same spectrum of risk as bank‑grade messaging. Some in the industry argue the wallet‑key threat is overrated. A February CoinShares report estimated only about 10,200 BTC are concentrated enough in vulnerable addresses to move markets if stolen. Gault’s concern, however, is that harvested authentication records carry legal and operational consequences well beyond the direct theft of coins: they can rewrite the ledger of who authorized transactions and who remains liable. Patchwork response across crypto There is movement: Ethereum has launched a coordinated post‑quantum migration. Bitcoin, by contrast, has not mounted an equivalent effort, and major exchanges and custodians — where most signing traffic originates — have not publicly committed to a unified migration strategy. As the industry digests both academic breakthroughs and corporate threat assessments, security experts say attention must shift from individual private keys to the live streams of authentication and signing data that underpin modern finance and crypto exchanges. Without coordinated migration plans and stronger wire‑level protections, the most consequential quantum risk may already be quietly accruing in archives across the internet. Read more AI-generated news on: undefined/news
SEC Sues Nathan Fuller Over $12.3M 'AI Trading Bot' Crypto Ponzi
The SEC has filed suit against Texas resident Nathan Fuller, accusing him of running a roughly $12.3 million crypto investment scheme built on bogus claims about AI-powered trading bots. What the SEC alleges - The complaint, filed in the U.S. District Court for the Southern District of Texas, says Fuller marketed passive joint-venture interests in a crypto arbitrage operation from at least October 2022 through mid‑2024. He operated through Privvy Investments LLC and used the assumed business names Privvy Investments and Gateway Digital Investments. - Fuller allegedly told about 150 investors that proprietary AI trading bots could scan crypto markets, execute high-frequency arbitrage trades, and limit losses via stop‑loss coding. Investors were promised outsized, short-term returns—generally 40%–50% in 30–45 days and, in some cases, more than 100% in under a month. - The SEC says those claims were false. Only about $380,000 (roughly 3% of investor funds) was actually used to buy cryptocurrency, and those trades were made without any of the advertised bots and produced no profits. Alleged misuse of funds and cover-ups - According to the complaint, Fuller misappropriated at least $6.2 million for personal expenses, including a home, gambling, travel, and vehicles, and used roughly $5.5 million to make “Ponzi‑like” payouts to earlier investors. - When investors questioned withdrawals, the SEC alleges Fuller fabricated account statements, referenced fictitious entities, and even used AI to create a fake letter from an auditing firm claiming accounts were “under review” and would be liquidated into a trust. Charges and remedies sought - The SEC charged Fuller with violating federal securities registration and antifraud provisions. It is seeking permanent injunctions, disgorgement, civil penalties, and a ban on participating in future securities offerings. Related bankruptcy action - The SEC’s lawsuit follows a separate bankruptcy proceeding in which the Justice Department reported that Fuller was denied discharge of more than $12.5 million in debt after admitting he ran Privvy as a Ponzi scheme and fabricated documents, according to court records cited by the DOJ. Why it matters - The case highlights ongoing regulatory scrutiny of crypto investment products that invoke “AI trading bots” and guaranteed returns—appeals that continue to surface in alleged frauds across the space. The SEC’s suit underscores the risks investors face when promised rapid, high-yield returns without transparent operations or verifiable trading activity. Read more AI-generated news on: undefined/news
Market Slows, Binance Doubles Down: Aims for 3B Users by 2030 with Institutional Push
When the market slows, Binance is doubling down. In an interview with CoinDesk, Catherine Chen, Binance’s head of VIP and Institutional, laid out an ambitious roadmap aimed at growing the exchange’s active user base tenfold to 3 billion by 2030 — even as the crypto industry grapples with a prolonged downturn and competitors retrench. “It is true, the market is going through a hard time,” Chen told CoinDesk, noting a wave of regulatory developments and rivals “either struggling or perhaps shifting their focus.” Coinbase, for example, cut roughly 14% of its workforce — nearly 700 employees — earlier this year amid soft market conditions and competition from AI-driven innovations, part of broader industry layoffs. Market backdrop and Binance’s position Bitcoin remains below the symbolic $100,000 level it hasn’t seen since mid-November, and the broader crypto market cap sits around $2.7 trillion — roughly 40% below its pre–October flash crash peak of $4.38 trillion. Yet Binance says it is weathering the slump. Chen reports the exchange serves more than 310 million “actual active individual users,” a figure she emphasizes is based on stringent KYC and corporate KYB verification, not simple registrations. Binance is widely regarded as the largest crypto exchange by trading volume and registered users, though CoinGecko currently ranks it second by daily trading volume at about $7 billion. Institutional push: closing the infrastructure gap Chen framed the current pullback as an opportunity to build the institutional plumbing crypto has long lacked. She highlights a stark spending imbalance: traditional finance firms invest north of $2 billion annually in advanced order management systems (OMS), while crypto infrastructure spend is roughly $185 million — less than a tenth. Binance’s new OMS toolkit aims to close that gap by bundling institutional-grade flow analytics and execution tools through partnerships with Coin Metrics, Talos, and 3Commas. “Financial institutions are increasingly merging with crypto exchanges and blockchain infrastructure providers,” Chen said. “They don't want to be building all that infrastructure themselves.” Triparty framework and tokenized real-world assets Beyond trading systems, Binance is tackling a core institutional pain point: custody and counterparty risk. Institutional clients often don’t want to custody crypto themselves or leave capital sitting on an exchange; they prefer to hold fiat or fiat-equivalents with established banking partners. To address that, Binance has quietly integrated “triparty” workflows and sovereign-grade asset management rails that accept tokenized money market funds from BlackRock and Franklin Templeton as eligible collateral inside its triparty ecosystem. This lets institutional traders pledge yield-bearing, tokenized shares in real time — avoiding manual treasury rollovers and heavy admin fees — effectively using tokenized short-term funds to back trading operations. Chen expects tokenization of real-world assets (RWA) to accelerate over the next 12–18 months, arguing tokenization improves accessibility without changing an asset’s fundamental characteristics or price. Crypto-as-a-Service and client traction Binance also launched a Crypto-as-a-Service (CaaS) platform in September aimed at financial institutions exploring digital assets. Chen says more than 15 major financial institutions have engaged the service since the rollout. The build-through-the-downturn strategy Chen’s message is pragmatic: while retail-driven price moves command headlines, Binance is focused on long-term infrastructure and institutional adoption. “Whenever the market is bad, it is always the best time for us to build,” she said. “We are building and positioning ourselves to 10x our user base when people aren't noticing — and then, hopefully, we are already there.” Whether Binance’s bet on institutional tooling, triparty custody, and RWA tokenization will prove decisive remains to be seen, but the exchange is clearly positioning itself to capture the next wave of crypto growth — not by chasing short-term rallies, but by building the plumbing institutions say they need. Read more AI-generated news on: undefined/news