Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
5 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
5 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
5 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
5 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
5 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
A full feature walkthrough of the tool purpose-built to move liquidity provision from guesswork to measured capital allocation.
Press enter or click to view image in full size
At a GlanceThe Problem with Managing Liquidity TodayWhat is the Liquidity Terminal?Features, why they matter, and how to use themConclusionThe Problem with Managing Liquidity TodayConcentrated liquidity is the most capital-efficient way to provide liquidity onchain. It is also the most operationally demanding. Unlike full-range liquidity, a concentrated position earns fees only while the market price stays within a defined range. Go outside that range and the position stops earning. Impermanent loss (IL) continues to rack up against the position’s value relative to holding.
The challenge for LPs has never been understanding this in theory, but managing this across multiple positions, in real time from one platform. Without having to stitch together data from external dashboards, price feeds, and spreadsheets to understand what is actually happening to their position.
Most LPs have felt the operational cost of this directly. A position goes out of range over the weekend. By the time it gets rebalanced, fees that could have been earned are gone and the portfolio composition has shifted in ways that were not anticipated. The gap between LP strategy and outcome is, in large part, an information and tooling gap.
The Liquidity Terminal is Orca’s answer to narrowing that gap.
What is the Liquidity TerminalThe Liquidity Terminal is Orca’s dedicated interface for concentrated liquidity management on Solana. It is built on top of Orca’s Whirlpools, Solana’s most widely integrated CLMM infrastructure, and consolidates the key workflows an LP needs into a single product surface:
Historic priceLiquidity distributionPosition simulationRange presetsReal-time position monitoringOut-of-range notificationsPosition HistoryLive PnLThink of the Liquidity Terminal as a painter’s palette. Each feature being a color to paint with. If you only have 4 colors to paint with, the level of detail your painting has will pale in comparison to someone with 8 colors. More colors mean more shades, and more features mean you can paint a clearer picture with your positions. Let’s breakdown each one outlining what each feature does, why it matters, and how to use it. Equipping you with the palatte to paint a clear picture for LPing.
Historic PriceHistoric price displays a price chart for the selected token pair directly within the Terminal.
Why it matters: Range selection without price history is guesswork. An LP needs to see past and present volatility to make an informed decision on a position’s range.
How to use it: Open the Terminal, select your pool, and the historic price chart loads automatically as your context layer.
Liquidity DistributionLiquidity distribution shows where existing capital is concentrated across the price curve of a pool.
Why it matters: Depositing into an already saturated tick range can mean competing for a smaller share of fees. Depositing into an empty or thin tick range can mean minimal fees from lower/non-existent volume.
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How to use it: Review the distribution chart before setting your range to identify depth of liquidity across price ranges.
Position SimulatorPosition Simulator models expected P&L outcomes across price scenarios, time in-range, and LP vs Hold comparison, before any capital is committed.
Why it matters: It replaces manual spreadsheets and visualize scenarios on different strategies, before you ever deposit capital.
How to use it: This tool is accessible without connecting your wallet.
Select any poolIn your Positions table, select the “Simulator” tabSet your range, adjust time in-range slider, and review projected outcomes across price movement scenariosSee expected return comparison for LP vs holding tokensRange PresetsRange presets are predefined range widths that map to common LP strategies. Based on fixed price, single-sided, or historic price.
Why it matters: Reduce friction from strategy to execution within a couple clicks.
How to use it: Found in the “Create a Position” section, select a preset as your starting point, adjust from there using the price chart.
Real-Time Position MonitoringReal-time position monitoring displays a live price chart overlaid with an active position’s range bounds.
Why it matters: A position that goes out of range and is not caught quickly stops earning fees while impermanent loss continues to accrue.
How to use it: Open any pool, connect your wallet of choice, and view under “My Positions” tab after connecting your wallet to see every active position’s current status at a glance.
Out-of-Range NotificationsOut-of-range notifications alert an LP when the market price exits an active position’s range bounds.
Why it matters: It relieves you of needing constant monitoring across multiple positions, which is not a viable workflow at scale.
How to use it: At the top right of the page window, click on the ✉️ icon. Enable notifications that can be sent in-app, email, and via Telegram.
Position HistoryPosition history is a time-stamped log of every deposit, withdrawal, and range adjustment made to a position since it was opened.
Why it matters: Strategy improvement requires data. A capital allocator that LPs who cannot review what they did and when, cannot identify what is working.
How to use it: After selecting a pool, click on the “History” tab next to “Positions”. View a past position’s time, liquidity action, token change, position address, and transaction link.
Live PnLLive PnL shows the current unrealized profit and loss of an active position, updated in real time.
Why it matters: Gain visibility on any position’s health from one terminal.
How to use it: Live PnL is visible on both the “Positions” tab from the Liquidity Terminal and the Portfolio page.
ConclusionThe Liquidity Terminal is the product suite Orca built for Solana’s capital allocators that make serious LP management accessible and seamless at scale. The simulation features remove the guesswork from range selection. Real-time range visualization closes the information latency that causes positions to stay out of range longer than necessary. Best-in-class portfolio tracking makes it possible to manage multiple positions without the operational overhead of doing it manually.
Taken together, these tools represent a shift in how capital allocation can be practiced through providing liquidity on Solana: less reactive, more deliberate, and with the data infrastructure to support iteration and improvement over time.
The Liquidity Terminal is the most robust toolkit for capital allocators that LP on Solana.
Access the best tool for liquidity provision on Solana at orca.so/pools
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
5 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
5 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
5 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
5 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
5 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
PANews reported on April 20th that Orca, the liquidity protocol within the Solana ecosystem, released an update on the security incident involving its cloud hosting platform Vercel: Orca's frontend is hosted on Vercel. Out of an abundance of caution, all potentially compromised keys and deployment credentials have been rotated. Orca's on-chain protocols and user funds were unaffected. The official team will continue to monitor the situation and provide updates as more information becomes available.
Previously, AI cloud service Vercel disclosed a security incident: its internal systems were accessed without authorization, affecting some users .
Author: PA一线
This content is for market information only and is not investment advice.
A hack has just been reported in the tech world, and this shake-up is no ordinary hallway incident. First, Vercel is not a small lost piece in the digital workshop, but a hinge for many modern applications. Then, the crypto community almost immediately raised its head, aware that a shock on the infrastructure can contaminate everything else. When the floor shakes under the interfaces, even protocols that thought they were solid begin to count the cracks this morning.
In brief Vercel confirmed unauthorized access via Context.ai, an AI tool linked to the Enterprise Workspace. Sensitive variables appear protected, but non-sensitive variables could have been enumerated quickly. Orca has already rotated its accesses, with no impact declared on onchain user funds so far. The danger shifts layers: the attack now targets the real interface, not just the DNS. A breach limited in appearance, massive by position First, Vercel confirmed unauthorized access to some internal systems, while mentioning a limited subset of affected clients. The group engaged external experts, alerted law enforcement, and maintains its services online. Yet, in crypto, the word limited reassures no one. Vercel hosts frontends of wallets, of DEXs, and Web3 dashboards; when this layer moves, the entire storefront can crack.
Guillermo Rauch then detailed the initial entry: a compromised employee via Context.ai, an AI tool linked to Google Workspace OAuth, followed by an escalation to the Vercel environments. Sensitive environment variables would remain protected at rest, but variables marked non-sensitive were enumerated.
In other words, the attack did not hit a protocol directly; it targeted the workshop where the interface served to worldwide crypto market users is built daily now everywhere.
When AI shortens the time between error and impact Then, AI emerges as the real underlying poison. Rauch does not say artificial intelligence invented the attack; he suspects it brutally accelerated it. According to him, the group was highly sophisticated, with surprising speed and a deep understanding of Vercel.
We believe the attacking group is highly sophisticated and, I strongly suspect, considerably accelerated by AI. They moved with surprising speed and a deep understanding of Vercel.
Source: X, Guillermo Rauch In the comments, several developers hammer the point: many systems have been designed against human-speed adversaries, not workflows capable of searching, comparing, and escalating almost breathlessly.
ByteCrafter reminds that the distinction between sensitive and non-sensitive variables can become a trap, as simple read access is sometimes enough to map the entire tech stack.
Crypto discovers its blind spot: the real interface Finally, the real danger for crypto no longer just passes through the DNS or the registrar. Here, the threat targets the hosting layer and, potentially, the build itself. If API keys, private endpoints, NPM or GitHub tokens, and deployment secrets have circulated, the attacker no longer needs to hijack a domain; they can touch the real interface.
Orca has already rotated its accesses as a precaution, while assuring that its onchain protocol and user funds remain intact.
Many systems were designed for human-speed adversaries. AI breaks this assumption long before discovering new attack surfaces. Once a tool inserts into the operational surface, it brings a security friction that people still underestimate.
Source: X, Comments by rexx on Guillermo Rauch’s post The sector thus discovers a more intimate attack surface.
Markers to keep in sight 2 million dollars demanded on BreachForums; 580 employee records shown as samples; Orca rotated its accesses as a precaution; Mandiant is assisting Vercel in the investigation; Next.js and Turbopack remain declared safe. This signal does not arrive alone. In recent weeks, hackers have intensified, and the climate is heavy. The Kelp hack showed how an external flaw can contaminate Aave and trigger massive withdrawals. In this backdrop, the Vercel incident reminds this: crypto is no longer breached through its contracts, but through its plumbing.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Solana-based decentralized exchange Orca launched a new system that lets approved investors trade regulated tokenized assets onchain, starting with commodity tokenization firm Streamex and its gold-linked security GLDY. The move reflects the crypto industry’s growing push into tokenized real-world assets, as firms race to build compliant marketplaces for trading products like tokenized commodities, funds and securities.Orca, one of the biggest decentralized exchanges on Solana, is launching new infrastructure aimed at bringing regulated real-world assets onchain, as crypto firms push deeper into tokenized stocks, commodities and other traditional financial products.
The Solana-based platform said Wednesday it had rolled out “permissioned pools,” a system that allows only approved investors to trade certain tokenized assets. The setup is focused on the U.S. market and is designed for issuers that need to comply with securities laws, including identity checks and investor eligibility requirements.
Streamex, a company focused on tokenizing commodity-based assets, will be the first issuer to use the new system, according to Orca. The company said in a press release shared with CoinDesk that its tokenized gold-linked security, GLDY, will be the first regulated asset to trade through Orca’s new infrastructure.
The launch marks an expansion for Orca beyond pure crypto trading and into infrastructure for tokenized financial assets. This comes as crypto companies increasingly focus on tokenizing traditional financial assets, a market many in the industry see as a major growth opportunity.
Under the new setup, investors must complete know-your-customer (KYC) checks before they can buy, hold or trade regulated tokens. Issuers can also decide who is eligible to access their assets, with Orca’s system automatically enforcing those rules onchain.
The trading pools run on Orca’s existing liquidity infrastructure, while the exchange’s interface will show users whether an asset has restrictions and whether they qualify to trade it.
“Orca has spent five years building the liquidity infrastructure that Solana’s market structure runs on,” said Orca CEO Michael Hwang in a press release. “As tokenized equities, funds and real-world assets arrive onchain at exponential rates, issuers need more than a place to list.”
PANews reported on May 27th that, according to CoinDesk, Solana decentralized exchange Orca has launched "permissioned pools" infrastructure for tokenized trading of real-world assets with high compliance requirements. The first to integrate is commodity tokenization company Streamex, whose gold-linked security GLDY will be the first compliant token traded on the system. Orca stated that this mechanism is primarily aimed at the US market, allowing only KYC-verified investors to buy, sell, and hold the relevant tokens. Issuers can customize access rules, which will be automatically executed by the on-chain system. The permissioned pools run on top of Orca's existing liquidity infrastructure, and the interface will indicate whether the asset is restricted and whether the user is eligible to trade.
TLDR Orca has launched permissioned pools to support regulated trading on Solana. The new system allows only approved investors to access specific tokenized assets. Investors must complete KYC checks before buying or trading these assets. Streamex will launch the first tokenized gold-linked security called GLDY. Orca enables issuers to control investor eligibility through onchain rules. Orca has introduced new infrastructure to support tokenized real-world assets on the Solana blockchain. The decentralized exchange unveiled permissioned pools designed for regulated trading environments. The system targets compliant access to tokenized real-world assets, especially in the U.S. market.
Orca Introduces Permissioned Pools for Regulated Trading Orca rolled out permissioned pools that limit access to approved investors. The system allows issuers to control participation based on regulatory requirements.
Investors must complete know-your-customer checks before accessing these pools. The platform enforces eligibility rules directly through onchain mechanisms.
The infrastructure focuses on assets that require compliance with U.S. securities laws. These include tokenized equities, commodities, and other financial instruments.
Orca said the pools operate within its existing liquidity framework. The interface also shows users whether they qualify to trade specific assets.
“Orca has spent five years building the liquidity infrastructure,” said CEO Michael Hwang in a statement. He added that issuers now need tools beyond simple listings.
Tokenized Real-World Assets Expand on Solana Through Orca Streamex will be the first issuer to use Orca’s new system. The company plans to list its gold-linked tokenized security, GLDY.
The GLDY asset represents exposure to gold through a regulated structure. It will trade exclusively within Orca’s permissioned pools.
Streamex confirmed the rollout in a press release shared with CoinDesk. The firm focuses on tokenizing commodity-based financial products.
Orca’s system allows issuers to define investor access rules. These rules apply automatically during trading, holding, and transfers.
The platform marks a shift beyond traditional crypto-only trading. Orca now provides infrastructure for regulated financial products onchain.
The move aligns with broader efforts to bring traditional assets into blockchain systems. Companies continue to explore compliant frameworks for tokenized markets.
The exchange will display trading restrictions within its interface. Users will see eligibility status before interacting with any restricted asset.
Orca confirmed that its permissioned pools are now live. GLDY stands as the first regulated asset available through this new marketplace.
Orca has launched permissioned pools on Solana to support compliant secondary trading for RWA assets onchain.
RWA Infrastructure Expands on Orca
Today, issuers can toggle permissions on permissionless infrastructure that permit eligible participants to transact regulated assets on @solana
That means:
– Asset issuers now have a new distribution channel to eligible participants onchain
-… pic.twitter.com/Z3q1oFw3Fd
— Orca 🌊 (@orca_so) May 27, 2026
The new pools allow asset issuers to set eligibility requirements for who can hold or trade their tokens, creating a permissioned trading environment on permissionless infrastructure. The setup is designed for accredited and KYC verified investors, with compliance checks enforced at the token level rather than handled only through offchain processes.
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Streamex, a Nasdaq listed company focused on tokenized commodity real world assets, is the first issuer to use the infrastructure. Its GLDY token, a gold backed, yield bearing tokenized security, will trade through the GLDY Pool on Orca.
The launch expands Orca’s role beyond standard decentralized exchange activity and into onchain capital markets infrastructure. Orca said its AMM infrastructure has processed more than $500 billion in cumulative trading volume since launching on Solana five years ago, with no reported smart contract exploits.
The system uses Solana’s Default Account State extension to initialize token accounts in a frozen state. Wallet holders must complete the issuer’s verification process before they can hold or transact the regulated asset. An onchain access control layer then syncs KYC and accreditation status from the issuer’s platform in real time, allowing eligibility to be continuously enforced.
The model addresses one of the main bottlenecks for tokenized securities: secondary market liquidity. Streamex said GLDY is offered under Rule 506(c) of Regulation D and is available only to verified accredited investors, while Orca’s permissioned pools provide a venue where eligible holders can seek 24/7 liquidity onchain.
The infrastructure could also extend beyond GLDY to other tokenized securities, including stocks, bonds, commodities, real estate, and royalties. For Orca, the launch positions its Solana based liquidity stack as a bridge between regulated asset issuance and decentralized market infrastructure.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Tokenized commodities platform Streamex said it is launching a Solana-based marketplace for trading tokenized assets in partnership with Orca, a decentralized exchange built on Solana.
According to a Tuesday announcement, the trading infrastructure will allow verified accredited investors to buy and sell Streamex’s yield-bearing, gold-backed GLDY token through regulated onchain trading pools operating around the clock.
The system uses identity and compliance checks tied to Streamex’s KYC and accreditation process to restrict trading access to approved investors while enabling secondary market liquidity for regulated digital assets.
The companies said neither Streamex nor Orca will act as brokers or intermediaries for investors seeking to resell the GLDY token.
Trading takes place through permissioned liquidity pools built on Orca, where investor wallets remain frozen until users complete identity verification and accreditation checks. Investor eligibility data is also updated onchain in real time to ensure only approved participants can access the market.
Orca said its automated market maker infrastructure has processed more than $500 billion in cumulative trading volume since launch. The companies said the GLDY trading pool could serve as a model for other tokenized assets tied to stocks, bonds, real estate and commodities.
Exchanges race to build tokenized trading railsThe launch comes amid a broader push to build regulated trading infrastructure for tokenized stocks, funds and other traditional financial assets.
Earlier this month, the US Securities and Exchange Commission approved Nasdaq’s pilot proposal to allow tokenized stocks and exchange-traded funds to trade alongside their traditional counterparts on the same exchange.
Under the proposal, tokenized securities would share the same order books, ticker symbols and shareholder rights as conventional shares. Participation in the pilot is initially limited to eligible participants and securities tied to the Russell 1000 index and some of the biggest exchange-traded funds.
Other exchanges and tokenization companies are also expanding blockchain-based market infrastructure. In March, the New York Stock Exchange signed an agreement with Securitize to develop infrastructure for tokenized stocks and ETFs tied to Intercontinental Exchange’s planned digital trading platform.
Centrifuge, a tokenization platform focused on real-world assets, recently said it plans to bring tokenized Treasurys, private credit and AAA-rated collateralized loan obligation products to the Monad blockchain for use in lending, collateral and secondary market activity.
Data from RWA.xyz shows the tokenized real-world asset market has grown to roughly $34 billion, with Treasury and commodity-backed products representing some of the largest segments.
Source: RWA.xyz
Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Tokenized commodities platform Streamex said it is launching a Solana-based marketplace for trading tokenized assets in partnership with Orca, a decentralized exchange built on Solana.
According to a Tuesday announcement, the trading infrastructure will allow verified accredited investors to buy and sell Streamex’s yield-bearing, gold-backed GLDY token through regulated onchain trading pools operating around the clock.
The system uses identity and compliance checks tied to Streamex’s KYC and accreditation process to restrict trading access to approved investors while enabling secondary market liquidity for regulated digital assets.
The companies said neither Streamex nor Orca will act as brokers or intermediaries for investors seeking to resell the GLDY token.
Trading takes place through permissioned liquidity pools built on Orca, where investor wallets remain frozen until users complete identity verification and accreditation checks. Investor eligibility data is also updated onchain in real time to ensure only approved participants can access the market.
Orca said its automated market maker infrastructure has processed more than $500 billion in cumulative trading volume since launch. The companies said the GLDY trading pool could serve as a model for other tokenized assets tied to stocks, bonds, real estate and commodities.
Exchanges race to build tokenized trading railsThe launch comes amid a broader push to build regulated trading infrastructure for tokenized stocks, funds and other traditional financial assets.
Earlier this month, the US Securities and Exchange Commission approved Nasdaq’s pilot proposal to allow tokenized stocks and exchange-traded funds to trade alongside their traditional counterparts on the same exchange.
Under the proposal, tokenized securities would share the same order books, ticker symbols and shareholder rights as conventional shares. Participation in the pilot is initially limited to eligible participants and securities tied to the Russell 1000 index and some of the biggest exchange-traded funds.
Other exchanges and tokenization companies are also expanding blockchain-based market infrastructure. In March, the New York Stock Exchange signed an agreement with Securitize to develop infrastructure for tokenized stocks and ETFs tied to Intercontinental Exchange’s planned digital trading platform.
Centrifuge, a tokenization platform focused on real-world assets, recently said it plans to bring tokenized Treasurys, private credit and AAA-rated collateralized loan obligation products to the Monad blockchain for use in lending, collateral and secondary market activity.
Data from RWA.xyz shows the tokenized real-world asset market has grown to roughly $34 billion, with Treasury and commodity-backed products representing some of the largest segments.
Source: RWA.xyz
Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Orca is embracing regulated RWA markets. On May 27, the Solana DeFi OG launched permissioned pools, a compliance-gated liquidity layer built to bring regulated assets onto a public secondary market, with gold tokenization firm Streamex as its inaugural issuer.
The launch reframes Orca's place in Solana's capital markets stack, delivering purpose-built infrastructure for TradFi asset classes and embracing the network’s growing RWA economy.
Solana DEX Unveils Permissioned RWA Pools In collaboration with Streamex, Orca has just unveiled a new protocol-level compliance enforcement layer, enabling issuers of regulated assets control who is eligible to trade them onchain.
Powered by Solana token extensions, regulated tokens are frozen at launch by default, ensuring that a wallet cannot hold or move a regulated asset until it clears the issuer's verification steps. An on-chain access control layer then syncs KYC status from the issuer's platform in real time, enforcing investor eligibility continuously without manual intervention.
Liquidity sits in permissioned pools running on Orca's audited smart contracts, and the protocol's trade module surfaces permissioned-token indicators and KYC-status callouts so eligible investors can navigate what they are cleared to buy.
"Orca has spent five years building the liquidity infrastructure that Solana's market structure runs on, and that foundation matters now more than ever. As tokenized equities, funds, and real-world assets arrive onchain at exponential rates, issuers need more than a place to list. They need distribution through a trusted venue where regulated assets can seamlessly trade subject to eligibility parameters set by issuers." - Michael Hwang, CEO, Orca
Streamex is the first issuer to go live. Its $GLDY token, a gold-backed, yield-bearing tokenized security targeting up to 4% annual yield paid monthly in gold, is the inaugural asset in the framework. Offered under Rule 506(c) to accredited investors, $GLDY can now trade around the clock, with Streamex maintaining the investor whitelist while also earning a share of Orca protocol fees alongside $GLDY transfer fees.
Traditional AMMs Seek to Recapture Market Share The launch comes at a time when traditional AMMs are eager to differentiate themselves and lean into new products and service verticals.
With Prop AMMs commanding 51% of volume share among all Solana DeFi exchange types, permissioned pools across regulated asset classes could offer traditional AMMs a new and exclusive clientele.
Regulated assets demand a user-facing venue that can gate access, verify eligibility, and display compliance status, the precise capabilities prop AMMs stripped out in pursuit of raw execution.
Solana RWA Market Size Crosses $2.58B Solana now hosts roughly $2.58 billion in tokenized real-world assets excluding stablecoins, up about 7% over the past 30 days across more than 1,840 distinct assets, according to RWA.xyz.
Up over 10x in the past 12 months, the explosive growth of Solana’s RWA sector also extends to its holder base. Nearly 220,550 wallets now hold a Solana RWA, a 13.7% jump on the month, with growth led by tokenized equities.
RWA.xyz data shows holder counts dominated by xStocks like Tesla, NVIDIA, the S&P 500, and Apple, alongside tokenized gold and treasuries.
Orca’s collaboration with Streamex may yet be the first drop in the ocean for the exchange’s permissioned pool stack, enabling the venue to attract a variety of exclusive, regulated issuers and bring unique assets onchain.
Read More on SolanaFloor Markets aren’t buying the ceasefire deal
$930M Liquidated From Crypto Markets as $BTC Tumbles to $72.8k Amidst US-Iran Tensions
Alloyed Bitcoin liquidity has witnessed a significant increase, currently holding more than $13 million in deep liquidity on the innovative DEX platform, Osmosis Zone.
This surge highlights increasing engagement from individual and institutional investors and indicates the substantial role that Osmosis is playing in providing Bitcoin DeFi solutions.
The Role That Osmosis Zone Plays Despite Bitcoin being the largest digital asset, it remains significantly unlinked from DeFi. Without an efficient multi-chain liquidity or a native DEX, Bitcoin holders, in many cases, encounter slow, expensive transactions and difficulties when moving between networks.
Osmosis Zone is a DeFi appchain and DEX running on top of the Cosmos blockchain, designed to serve the needs of specific crypto assets. It functions as a trading and liquidity gateway for tokens on appchains without a native spot DEX, including Bitcoin (BTC), dydX (dydX), Celestia (TIA), and others.
Bitcoin Layer-2 platforms like Rootstock, Merlin, and Stacks offer their own representative versions of BTC.
Since these variations are not natively interchangeable with native Bitcoin or each other, moving them normally requires reverting them back to the main Bitcoin blockchain, which is considerably slow and costly.
Osmosis has emerged as a major cross-chain DEX platform that moves these types of tokens between networks in a decentralized way.
To address such fragmentation and interchangeability challenges, Osmosis launched Alloyed Bitcoin, a tech product that unifies numerous Bitcoin variations into one liquid asset.
Alloyed Assets: Game-Changer for DeFi The above impressive liquidity growth aligns with Osmosis’s continued functioning as a major cross-chain gateway, enabling seamless interoperability between BTC variants. It utilizes alloyed assets infrastructure, a network that combines numerous representations of Bitcoin into a single tradable asset.
The increase in alloyed Bitcoin liquidity on Osmosis indicates rapid user utility of this Alloyed Asset mechanism, indicated by surging inflows of investments into Osmosis.
This trend suggests that Osmosis products continue to mature, attracting more inflows of funds and utility, further boosting the network’s stability.
The rise in alloyed Bitcoin liquidity is a testimony to the capability of these offerings designed to solve the challenges of market fragmentation.
Alloyed assets continue to evolve, as currently they can be utilized as a risk-diversified version of tokens that are tradable in the Osmosis network.
Osmosis has witnessed persistent surges in Bitcoin trading volume and liquidity since it launched this product. The platform seeks to become a trading gateway for all BTC-related tokens by using the same linkages that link to sources to BTC itself.
AUTHOR
Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.
PANews reported on August 21st that Osmosis has officially announced that its protocol has generated over $20 million in revenue. This revenue is used to support stakers, Bitcoin accumulation plans, and the growth of the community funding pool, driving the sustainable development of the ecosystem.
According to previous news, Osmosis plans to optimize the OSMO token economic model: increase Bitcoin reserves, achieve OSMO net deflation by the end of the year, etc.
Author: PA一线
This content is for market information only and is not investment advice.
PANews reported on August 26th that dYdX has officially released a new roadmap, with its core development company, dYdX Trading, rebranding as dYdX Labs. Over the next 90 days, dYdX plans to conduct software upgrades to support the community and achieve significant breakthroughs in performance, user experience, and token utility. These upgrades include: 1. Partner fee sharing: Partners who bring trading volume and liquidity to dYdX can earn up to 50% of protocol fees; 2. The introduction of segmented and TWAP orders; 3. Designated proposers to significantly reduce end-to-end transaction latency; 4. Improved order gateways; 5. Telegram trading functionality, enabling seamless trading between dYdX accounts on the web and Telegram, launching in September 2025; 5. Social login, supporting instant login and deposits using Google, Apple, or Passkey; 6. Front-end integration with Osmosis, enabling one-click swaps and staking between USDC and DYDX; and 7. DYDX staking to reduce transaction fees.
Osmosis, a decentralized exchange (DEX) and DeFi hub platform built on the Cosmos blockchain, today announced that over 8 million OSMO tokens have been burned and permanently removed from the circulating supply. Late last month, on October 26, 2025, the DeFi platform disclosed a token burning program aiming to decrease the circulating supply of OSMO. The protocol scheduled the first phase of 100 million tokens for burning and permanent removal over the next 30 days.
New Automated Osmosis Token Burn Mechanism: What it means Beginning on Monday, November 10, 2025, Osmosis successfully implemented a new automated burn mechanism following the completion of the final manual burn from taker fees, according to data shared by market analyst Johnny Wyles.
This means that the token burning process now happens in two stages. The first phase (manual stage) involves coordinated changes across the protocol, with collaborations between validators and node operators. The second phase (powered by an autonomous system) runs multiple enhancements to bolster efficiency and reliability, with the automated burning process remaining a continuous process, not just a one-off event.
With the new automated program in place, the daily burn rate is approximately 79,000 OSMO tokens per day, which is equivalent to a monthly burn rate of 2.37 million tokens per month, according to the metrics reported by the analyst. This further translates to an annual burn rate of 28.84 million tokens per year. While this falls short of the target mentioned above, the automated token burn initiative (with time) will efficiently decrease the total market calculation of OSMO tokens. This exercise will improve the market perception of the scarcity of OSMO tokens and build the cornerstone for the price growth.
OSMO Price Analysis and Prediction Despite the token burning program in progress, Osmosis has not experienced significant price movement. Its price, which currently stands at $0.100, has been down 2.5% and 5.5% in the last 24 hours and over the past week, respectively.
The current price of Osmosis is $0.100. With the automated process, the protocol uses network fees to repurchase and burn OSMO, as a result will create a deflationary effect on supply and boost prices in the future. This supply reduction has the potential to bolster the price of OSMO to higher levels because it decreases the availability of tokens and increases scarcity.
AUTHOR
Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.
Anoma’s Christopher Goes warns the Cosmos ecosystem is nearing collapse as projects like Penumbra, Osmosis and Noble shut down, enter maintenance or exit entirely.
Summary
Anoma co-founder Christopher Goes says the Cosmos (ATOM) ecosystem is in serious decline and “nearing its end,” with user and market interest at historic lows. Projects like Penumbra have shut down, while Osmosis moved into maintenance mode and Noble prepares to withdraw from Cosmos and focus on other ecosystems. Goes cites high operating costs, specialized infrastructure and capital concentration on a few assets as reasons for shrinking sustainability and fading innovation in Cosmos. Christopher Goes, co-founder of Coinbase-listed cryptocurrency Anoma (XAN), said the Cosmos (ATOM) ecosystem is experiencing a serious decline and nearing its end, according to statements reported by Bitcoin Sistemi.
Anoma co-founder says Cosmos ecosystem in decline Goes stated that numerous projects within the Cosmos ecosystem have recently ceased operations or significantly reduced their scale. Several projects have shut down completely, while others have entered maintenance mode and redirected resources to alternative ecosystems, according to the report.
The statement cited specific examples including Penumbra ceasing operations, Osmosis entering maintenance mode while shifting resources elsewhere, and Noble in the process of withdrawing from the Cosmos ecosystem.
Goes indicated that user and market interest in the ecosystem has reached historically low levels, creating sustainability challenges for projects with high operational costs and specialized technology infrastructures, the report said.
The concentration of capital on specific assets and the removal of the ecosystem from priority lists contributes to uncertainty regarding Cosmos’s future, according to Goes’s assessment.
Anoma is listed on Coinbase, one of the largest cryptocurrency exchanges in the United States. The Cosmos network uses blockchain technology designed to enable interoperability between different blockchain systems.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Osmosis has proposed converting OSMO to ATOM and tightening Cosmos Hub integration, testing whether chain mergers can boost liquidity, governance, and valuations.
Summary
Osmosis plan offers OSMO–ATOM conversion at a fixed rate over six months, with unclaimed ATOM returning to the Hub community pool. Proposal would bind Osmosis liquidity, security, and governance more tightly to Cosmos Hub, positioning ATOM as the primary base asset. The move sharpens Cosmos’ consolidation vs app‑chain sovereignty debate, putting OSMO and ATOM holders in control via governance votes. Interoperable DEX Osmosis has put forward a sweeping proposal to convert OSMO into ATOM and migrate its core protocol more tightly into the Cosmos Hub, in one of the most aggressive consolidation moves yet seen in the Cosmos ecosystem. The plan would effectively bind Osmosis’s liquidity, security, and governance more directly to the Hub, while offering OSMO holders a time‑limited path into ATOM exposure.
Under the proposal, all circulating OSMO – excluding undeployed community pool tokens – could be converted to ATOM over a six‑month window at a fixed rate of 1.998 OSMO for 0.0355 ATOM. Holders who do not claim within that period would see the corresponding ATOM returned to the Cosmos Hub community pool, concentrating unclaimed value under Hub governance. The structure is explicitly designed to avoid permanent dangling liabilities, while forcing a clear decision from tokenholders on whether they want to align with the Hub or exit.
Strategically, the proposal aims to turn Osmosis from a largely independent app‑chain into a native liquidity engine for Cosmos Hub, potentially simplifying the stack for users and institutional players who view Cosmos as fragmented. By consolidating liquidity and security at the Hub layer, proponents argue that Cosmos can present a cleaner narrative to external capital: one core base asset (ATOM), one primary liquidity venue (Osmosis on Hub), and unified governance. For Osmosis, the move could widen its addressable user base if ATOM’s brand and distribution outweigh the loss of a standalone token.
The trade‑offs are significant. OSMO holders face dilution of protocol‑specific upside in exchange for broader ATOM exposure and tighter alignment with the Hub’s long‑term roadmap. Cosmos Hub, on the other hand, would be implicitly underwriting Osmosis’s future, importing not only its liquidity and fees but also its technical and governance risk. Success would push Cosmos further toward a “hub and spokes” model with ATOM at the center; failure would strengthen the case for app‑chain sovereignty over consolidation.
If passed, the proposal would mark a clear escalation in the ongoing debate over how Cosmos should compete with more monolithic ecosystems like Ethereum and Solana. It would also provide a live test of whether token conversions and protocol mergers can unlock higher valuations and deeper liquidity, or whether they simply shuffle risk and governance complexity from one balance sheet to another. For now, all eyes will be on how both OSMO and ATOM holders respond at the ballot box.
PANews reported on April 6th that the Osmosis team announced an update to the Cosmos Hub proposal, based on feedback from validators and the community, canceling the plan to add new ATOM minting. The required ATOM will be gradually purchased from the DEX through protocol revenue to support the OSMO→ATOM conversion. A revenue support model linked to protocol performance will be introduced, with the total acquisition volume controlled to within 2.5% of the ATOM supply.
Previous reports indicated that Osmosis plans to optimize the OSMO token economic model, including increasing Bitcoin reserves and achieving net deflation for OSMO by the end of the year .
Author: PA一线
This content is for market information only and is not investment advice.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
PANews reported on April 17 that Osmosis announced on the X platform that its governance proposal to integrate Osmosis into Cosmos Hub failed by a narrow margin. Osmosis stated that it will continue to operate as an independent and profitable chain, and in the coming weeks will prioritize user security and continuity, develop its next phase of plans, and announce the protocol and team's next steps.
Osmosis price just pulled off the kind of move that usually wakes up abandoned crypto Telegram groups overnight. OSMO surged nearly 290% in 24 hours, blasting from $0.0329 to $0.1291 before cooling down near $0.0928. Dead coin? Apparently not this week.
But a big reality this time around was this wasn’t some sudden wave of organic ecosystem growth or retail believers rediscovering decentralized finance. Traders were chasing one thing: merger speculation.
Cosmos Hub Merger Narrative Ignites SpeculatorsThe actual catalyst came after Osmosis governance proposed a merger with Cosmos Hub, offering a fixed conversion rate of 1.998 OSMO for 0.0355 ATOM.
And just like that, the market smelled opportunity.
Volume exploded 668% within 24 hours as traders rushed to front-run the potential conversion mechanics. That’s not exactly subtle accumulation. It’s pure event-driven speculation with leverage sprinkled on top.
Well, the proposal has divided the community hard. Some view the merger as necessary consolidation for survival inside the Cosmos ecosystem. Others argue it completely undermines Cosmos’s long-standing multi-chain philosophy.
Supply Cuts Added More Fuel AlreadyThe timing also matters.
Back in July 2025, Osmosis executed “The Thirdening,” reducing token emissions by 33% while doubling daily burn rates. Less circulating supply created the perfect backdrop for an explosive squeeze once merger headlines appeared.
That said, zooming out to the weekly chart tells a colder story.
Bigger Resistance Still Looms AheadDespite the parabolic move, Osmosis price still remains far below the critical $0.22 to $0.30 resistance region that previously defined the broader bearish structure.
So, what’s next?
If the merger vote fails, traders chasing the conversion narrative could exit just as aggressively as they entered. And in crypto, speculative pumps rarely send a warning text first.
Story Ends Here
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Osmosis is debating a merger with Cosmos Hub via a 1.998 OSMO‑for‑0.0355 ATOM swap funded by DEX revenue, raising existential questions for OSMO, ATOM and the broader IBC DeFi stack.
Summary
OSMO rallied 185% in 24 hours on May 11, 2026, amid renewed speculation about a revised Cosmos Hub merger proposal The original COSMOSIS proposal to convert OSMO to ATOM at a rate of 1.998 OSMO for 0.0355 ATOM failed narrowly in April 2026 Social media activity from @osmosis and community accounts suggests a potential revised path forward for the integration Osmosis (OSMO) jumped 185% in 24 hours on May 11, reigniting debate across X about the failed COSMOSIS merger proposal that would have integrated the decentralized exchange directly into the Cosmos Hub. The sharp price movement comes less than a month after Cosmos Hub governance narrowly rejected the acquisition plan in April 2026, with speculation now centering on whether a revised proposal could succeed.
The original proposal, posted March 11, would have allowed holders to convert all circulating OSMO tokens into ATOM at a fixed rate of 1.998 OSMO for 0.0355 ATOM over a six-month window. Under that structure, approximately 665.1 million OSMO would have been eligible for conversion, with any unclaimed ATOM returning to the Cosmos Hub community pool after the deadline. The plan aimed to consolidate Osmosis liquidity, governance, and security onto a single chain, effectively making the DEX a native component of the Hub rather than an independent app-chain.
Failed Vote Sparks Renewed Speculation After the governance vote failed by a narrow margin in mid-April, Osmosis stated it would continue operating as “an independent, profitable blockchain” and develop its next-phase roadmap. Yet recent posts from the official Osmosis account and Cosmos-focused community members suggest discussions around a revised integration path have resumed, driving heavy trading activity across OSMO markets.
The OSMO-to-ATOM conversion narrative has been trending heavily among Cosmos ecosystem participants, with some forum posts exploring whether a modified proposal could address concerns that led to the original vote’s failure. An updated version referenced in early April removed new ATOM minting from the plan, instead proposing to fund the conversion over time using Osmosis’s own DEX revenue. That revision aimed to mitigate dilution risk for ATOM holders, a key point of contention during the initial governance debate.
Consolidation Versus Sovereignty The COSMOSIS proposal represents one of the most aggressive consolidation moves in Cosmos history, testing whether ecosystem-wide mergers can boost liquidity and valuations or undermine the sovereignty that defines the network’s app-chain model. If a revised proposal passes both Osmosis and Cosmos Hub governance, it would set a precedent that could pressure other independent chains to consider similar integrations.
Market observers note the debate mirrors broader tensions across multi-chain architectures, where projects must balance the benefits of shared security and liquidity against the risks of governance centralization. Concentrating the ecosystem’s primary DEX and hub chain under a single governance framework creates potential single-point-of-failure risks, as contentious votes could simultaneously affect trading infrastructure and network security.
Following the April rejection, some Cosmos community members floated the idea of a hostile takeover offer, arguing that nothing prevents Hub governance from drafting a proposal and presenting it directly to OSMO holders for their own vote. Whether renewed speculation translates into formal governance action remains unclear, but the 185% price surge signals that markets are pricing in a meaningful probability of eventual integration.
PANews reported on April 14th that, according to SoSoValue data, rising expectations of a US-Iran agreement have restored market confidence, leading to widespread gains in the crypto market. The DeFi sector performed particularly well, rising 5.00% in the last 24 hours. Hyperliquid (HYPE) rose 7.06%, while Lido DAO (LDO) and Aave (AAVE) rose 9.94% and 10.75% respectively. Meanwhile, Bitcoin (BTC) rose 4.51%, surpassing $74,000, and Ethereum (ETH) rose 7.56%, surpassing $2,300.
In other sectors, the RWA sector rose 4.05% in the last 24 hours, with Plume (PLUME) surging 13.92% within the sector; the CeFi sector rose 2.78%, with NEXO (NEXO) rising 3.79%; the Layer 1 sector rose 2.76%, with Algorand (ALGO) rising 8.11%; the Layer 2 sector rose 2.75%, with Optimism (OP) rising 6.90%; the PayFi sector rose 2.59%, with Telcoin (TEL) rising 12.07%; and the Meme sector rose 1.85%, with Binance Life rising 13.20%.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
PANews reported on April 21 that Lido stated on its X platform that the Kelp DAO cross-chain bridge attack resulted in the theft of approximately 116,500 rsETH (approximately $292 million), and the rsETH market on lending platforms such as Aave was subsequently frozen. Lido's EarnETH vault directly held approximately 9% of the rsETH exposure (approximately $21.6 million) through an rsETH/ETH leveraged position on Aave. The EarnETH team is actively deleveraging and reducing the risk of various strategies; the final outcome of this rsETH position depends on the decisions of Kelp, LayerZero, and Aave. A $3 million "first-loss protection mechanism" provided by the Lido DAO vault will be used to cover vault losses if necessary. Currently, deposits and withdrawals on EarnETH are suspended to ensure fair processing. Lido's core staking protocols stETH and wstETH are unaffected.
Lido Labs has asked the Lido DAO to approve the use of up to 2,500 stETH, worth about $5.8 million, to help reduce the rsETH shortfall caused by the recent Kelp exploit.
Summary
Lido Labs asked its DAO to allocate up to 2,500 stETH for Kelp exploit recovery. The Kelp exploit created an rsETH shortfall and raised bad-debt concerns across DeFi platforms. EtherFi and Aave-linked relief efforts followed as DeFi projects moved to limit user losses. The proposal says the funds would not act as a full bailout. Lido Labs said the stETH allocation would only be used as part of a wider recovery package designed to close the rsETH deficit in full.
According to the proposal, “Kelp’s rsETH LayerZero exploit created a material rsETH backing shortfall with broader second-order effects across integrated DeFi venues.” Lido said the situation placed pressure on market rates, lending positions, and vault users.
Kelp exploit adds pressure across DeFi The proposal follows a roughly $292 million exploit that hit Kelp DAO’s rsETH bridge last week. The attack created stress across connected DeFi platforms and raised concerns over bad debt.
Onchain analysis platform Lookonchain said Aave’s total value locked fell by nearly $8 billion after the attacker used stolen Kelp-linked assets as collateral. The incident left about $195 million in bad debt, according to the analysis.
Lido Labs said the response should remain narrow and coordinated. The proposal stated, “Lido DAO has a credible interest in supporting a coordinated, narrowly scoped response where inaction would likely increase losses for EarnETH vault depositors and deepen negative spillovers across stETH-linked products and liquidity venues.”
Recovery plan expects multiple contributors Lido Labs said the full deficit is above 100,000 ETH. Because of that size, it expects several crypto projects and stakeholders to help fund the recovery effort.
The proposal said, “Given that the total deficit exceeds 100,000 ETH, this vehicle is expected to include multiple contributors, with Lido DAO participating as one of several stakeholders rather than as the sole backstop provider.”
Other DeFi groups have also moved toward relief efforts. The EtherFi Foundation proposed adding 5,000 ETH for extra support shortly after the Lido DAO proposal appeared.
Aave founder and CEO Stani Kulechov also said he would personally donate 5,000 ETH to Aave’s DeFi United relief fund. These separate moves show that the Kelp exploit has drawn a wider response from major DeFi participants.
DeFi security concerns return after exploit The Kelp exploit has renewed debate about how DeFi platforms handle security failures, liquidity stress, and user losses after major attacks.
Curve founder Michael Egorov said failures linked to centralized points of control hurt an industry that aims to build open financial systems. His comments reflected growing concern over weak spots in complex DeFi structures.
JPMorgan analysts also said repeated DeFi hacks and slow growth have weakened institutional interest. They noted that each exploit can push investors toward holding funds in stablecoins instead of using higher-risk DeFi products.
Mantle has proposed lending up to 30,000 ETH to Aave DAO to help address bad debt linked to the Kelp DAO exploit.
Summary
Mantle proposed a 30,000 ETH loan to help Aave cover bad debt from Kelp’s exploit. The loan would use Mantle Treasury funds and carry yield based on Lido staking APR. Aave would secure the facility with revenue and at least $11M worth of AAVE tokens. The proposal, named MIP-34, was published by the Mantle Core Contributor Team on Thursday. The loan would come from the Mantle Treasury and would only be used to resolve rsETH bad debt on Aave V3. If approved, the facility would give Aave extra liquidity as it works through losses caused by the exploit.
Mantle said the loan would also turn idle treasury funds into a yield-generating asset. The team said the plan could support closer work between Mantle and Aave and help speed up Aave’s deployment on Mantle Network.
Loan terms include yield and collateral The proposal listed an indicative interest rate based on Lido staking APR plus a 1% premium. The final rate would be subject to negotiation between the parties.
The loan would have a maturity of up to 36 months. Aave would be allowed to repay early without a penalty, according to the proposal.
Mantle said the loan would be secured through a multisig wallet chosen by Mantle. The network would hold a first-priority lien and security interest over the wallet.
Aave would also need to place 5% of its revenue and at least $11 million worth of AAVE tokens into the wallet as collateral. If a default occurs, Mantle said the loan would become due and payable immediately.
Bybit backs Mantle proposal Bybit CEO Ben Zhou said the exchange would support the proposal. Bybit is a major supporter and strategic partner of Mantle Network.
Zhou wrote, “When we got hacked, the industry got together and helped us.” He added, “It is the only right thing that we do the same to [unite] together and walk out from difficult times.”
The Mantle proposal said the loan “demonstrates active treasury management and a proactive stance on industry resilience, reinforcing token holder confidence in Mantle’s long-term stewardship.”
The plan also said interest proceeds could go to the Mantle treasury for MNT token burns or ecosystem funding. That would allow Mantle to link the loan to its own treasury strategy.
Kelp exploit drives wider DeFi response The proposal follows the April 18 exploit of Kelp DAO’s LayerZero-powered bridge. The breach led to the unauthorized minting of 116,500 rsETH tokens worth about $292 million.
The attack spread to Aave after the exploiter supplied stolen rsETH as collateral on Aave V3. The exploiter then borrowed 82,650 WETH and 821 wstETH, leaving Aave exposed to bad debt.
Aave’s incident review estimated two possible bad debt outcomes of about $124 million or $230 million. Onchain analysts later said the attacker swapped all $175 million in stolen ETH into BTC through THORChain and other venues.
Several DeFi groups have joined relief efforts. Lido proposed up to 2,500 stETH, while EtherFi Foundation and Aave founder Stani Kulechov each pledged 5,000 ETH. Golem Foundation pledged 1,000 ETH, and Frax Finance said it is preparing its own contribution.
Aave founder has also backed the effort with a personal ETH pledge.
In the aftermath of the April 18 exploit that left KelpDAO’s rsETH with a significant backing shortfall, Aave’s service providers have taken the lead in organizing a coordinated industry response under the “DeFi United” initiative.
The main objective is to contain systemic risks and restore confidence across interconnected protocols.
Lido, Aave Unite Rather than focusing primarily on recovering the stolen assets, many of which were already bridged and swapped into Bitcoin via Thorchain, the effort has shifted toward stabilizing the ecosystem through recapitalization. Early damage control measures, such as Arbitrum’s security council freezing 30,766 ETH linked to the exploit, provided limited relief, but the broader challenge remains the deficit exceeding 100,000 ETH and its cascading impact on DeFi markets.
The “dislocation” has placed pressure on lending and borrowing rates, strained liquidity conditions, and increased the likelihood of forced liquidations, especially for users exposed through leveraged strategies and vault products like EarnETH. Against this backdrop, Aave contributors stated that collaboration is important to achieving the best possible outcome for users.
Multiple ecosystem participants are stepping forward with indicative commitments. Among the most notable is Lido DAO, whose contributors have proposed a capped, one-time allocation of up to 2,500 stETH to a dedicated relief vehicle. If approved, this contribution would form part of a fully funded recovery package designed specifically to close the rsETH deficit, rather than support partial measures that could leave users exposed to residual losses.
“If a full-coverage solution is not reached, EarnETH vault may remain exposed to losses of up to approximately 9,000 ETH, which is why a vehicle that is sufficiently capitalised to cover the full deficit is materially preferable to a partial coverage.”
The relief vehicle itself is structured with strict use-of-proceeds limitations, which focus solely on addressing the deficit rather than secondary effects such as position health or broader recapitalization needs.
Kulechov Steps In Aave founder Stani Kulechov also pledged a personal contribution of 5,000 ETH. His announcement read,
You may also like: Why Grayscale Thinks AAVE Has a Path to $175 Despite Trading Near 60% Away Worldcoin Rival Humanity Protocol’s Token Crashes 88% as $30M Wallet Drain Sparks Security Panic Aave Secures FCA Approval for UK Crypto Operations “Aave is my life’s work and we’re working nonstop to find the best possible outcome for users. I’m personally contributing 5000 ETH to DeFi United as we continue working together with partners on formalizing more commitments. I’m working to see this resolved and market conditions normalized as soon as possible.”
PANews reported on April 29th that Lido Finance disclosed on its X platform that the Lido DAO is considering a proposal to temporarily lower the first-loss protection threshold for the EarnETH vault from 1% in the event of the Kelp incident. Currently, Lido EarnETH's protection mechanism only triggers when vault losses exceed 1%, but Lido contributors predict that if the DeFi United rescue operation successfully fills the rsETH shortfall, the actual loss could be between 400 and 600 ETH, below the 1% threshold. For the sake of protecting users, maintaining the brand, and mitigating legal risks, the proposal suggests a one-time exception for the Kelp incident, rather than modifying the general 1% rule. This proposal is time-sensitive, as the rsETH incident is expected to be resolved within 5 to 10 days.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
The Ethereum Foundation rattled the crypto market by unstaking about $50 million worth of ETH on Monday, May 11. It sparked concerns of a potential selloff owing to the organization’s previous transfer trend.
Ethereum Foundation Unstakes Over $49M In ETH On-chain data from Arkham Intelligence shows that the Ethereum Foundation has cashed out 21,271 ETH worth of nearly $49.66 million from its Ethereum staking positions via Lido. The transfers took place in several transactions that each had an estimated value of around $2.3 million.
Ethereum Foundation’s unstaking activity. Source: Arkham Intelligence As per blockchain records, each batch had approximately 811 wrapped staked ETH (wstETH) from the crypto staking platform. During unstaking, these assets have been deposited into Lido’s unstETH contract.
This transfer shifted the Ethereum Foundation’s ETH balance from nearly the top of its reported internal cap of 70,000 ETH, to roughly 52,965 ETH. Almost $50 million worth of ETH was also re-liquidated in the organisation’s treasury wallet.
According to data from Arkham Intelligence, the transfers were not necessarily due to an immediate market sale, but rather related to treasury rebalancing. The activity was seen as being part of normal management to ensure a liquid environment for ecosystem development and grant and operational costs.
When the queue of withdrawals on Lido is full, the assets will be converted from wstETH to liquid ETH. The amount of funds will only become available once the normal staking platform unlock period has passed.
Earlier, in April, the Ethereum Foundation had unstaked nearly $49 million worth of ETH at the time. It led to similar concerns as of today.
How Did The ETH Price React? However, the ETH price remained unresponsive to the withdrawal and hovered near $2,300. Experts believe that traders seemed to read the adjustment as a routine treasury adjustment, rather than an indication of notable selling pressure.
Being among the largest long-term holders on the Ethereum network, the Ethereum Foundation has been the subject of interest whenever it moves significant portions of ETH. To yield the ecosystem initiatives, the organization has started staking ETH since mid-2015.
The staking balance of the firm jumped massively this year. It rose from just above 2,000 ETH in February to nearly 70,000 ETH before the recent withdrawal.
Lido DAO [LDO] attracted strong market attention on the 11th of May as broader crypto markets remained subdued.
According to CoinMarketCap, LDO surged over 8.85% in 24 hours and traded near $0.438 at press time.
The rally outperformed major assets like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL], which posted modest gains.
The gain outpaced major crypto assets like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL], which rose 0.30%, 0.35%, and 1.50%, respectively.
Why are traders turning bullish on LDO? Not only did the price show strong upward momentum, but traders and investors also appeared highly interested in the trend.
This was reflected in Trading Volume, which surged more than 190% to $120 million during the same period.
In fact, a crypto whale who recently made over $2.27 million from ApeCoin [APE] in a single day opened a 5x long position on 8.69 million LDO tokens.
According to Lookonchain, the position was worth more than $3.72 million. This reflected growing whale conviction in the altcoin.
Source: CoinGlass However, some investors appeared to take profits as the price approached a key level.
Data from CoinGlass revealed that exchanges recorded $899.72K worth of LDO Inflows during the same period. This suggested that some holders may have prepared for a potential selloff as tokens moved to exchanges.
Are large holders still accumulating LDO? Source: Nansen On the other hand, the top 100 LDO addresses continued adding tokens to their holdings, according to Nansen.
Data showed that over the past seven days, the top 100 LDO addresses increased holdings by 1.26%.
Meanwhile, exchange reserves declined by 0.98% during the same period. This suggested that large holders continued accumulating LDO while exchange supply declined.
In addition, intraday traders appeared to follow the same trend.
CoinGlass showed that $0.42 on the downside and $0.446 on the upside were major Liquidation Levels. These were the levels where traders appeared heavily over-leveraged.
At those levels, traders built $1.66 million worth of long positions and $445K worth of short positions. This indicated that traders expected LDO’s price to maintain its upward momentum.
Can LDO break above $0.45? Source: TradingView Despite these bullish signals, LDO’s daily chart on TradingView told a different story.
According to the chart, the asset approached a key resistance level at $0.45, which remained intact since the 2nd of February, 2026.
In the past two instances, whenever LDO approached this level, it faced strong selling pressure. That resulted in declines on the 17th and 27th of April, 2026.
Based on the current price action, if LDO breaks above this prolonged resistance, it could witness a 32% rally toward $0.6160.
However, LDO needs to close a daily candle above the $0.4550 level for confirmation.
On the other hand, the formation of a red candle near this level could attract sellers and trigger another decline.
Meanwhile, the Average Directional Index [ADX] reached 33.88, remaining well above the key threshold of 25. This indicated that LDO remained in a strong directional trend.
Final Summary Lido DAO [LDO] outperformed major cryptocurrencies after gaining more than 8.85% in 24 hours. A whale opened a $3.72 million leveraged long position on LDO, signaling growing confidence in the asset.
TLDR: Chainlink CCIP secures every wstETH bridge lane with 16 independent node operators by default. CCIP stayed fully operational during the October 2025 AWS outage, proving its infrastructure resilience. Per-chain-lane rate limits act as circuit breakers for wstETH during market stress or disruptions. Chainlink’s CCT standard preserves Lido DAO’s full sovereignty with no vendor lock-in over wstETH. Chainlink CCIP has been named the official cross-chain infrastructure for Wrapped Staked Ether by Lido’s Network Expansion Committee.
The November 2025 decision came as bridge security concerns intensified across decentralized finance. Cross-chain exploits have cost the industry nearly $3 billion in total losses.
The Kelp/LayerZero exploit recently added urgency to reviewing bridge risks across DeFi. Lido contributors published a security analysis explaining the reasoning behind adopting Chainlink CCIP for wstETH.
Decentralized Node Architecture Anchors the CCIP Infrastructure Following the Kelp/LayerZero incident, Lido addressed the community on X. The protocol stated that contributors were publishing “the security principles behind wstETH’s multi-chain strategy, and why Chainlink CCIP was selected as the official cross-chain solution.”
The post cited 16 independent node operators, native rate limiting, and no vendor lock-in as key factors. Most wstETH deployments had previously relied on canonical bridges, which required separate monitoring per chain and imposed seven-day withdrawal delays back to mainnet.
Following recent bridge exploits, Lido contributors are publishing the security principles behind wstETH’s multi-chain strategy, and why @chainlink CCIP was selected as the official cross-chain solution.
The analysis covers how Chainlink CCIP delivers strong decentralization,… pic.twitter.com/q2Y9c6Jf2n
— Lido (@LidoFinance) May 14, 2026
A core principle behind the selection was that CCIP “does not rely on a single verifier, machine, or infrastructure provider.”
Every bridge lane is secured by a minimum of 16 independent node operators achieving decentralized consensus. Infrastructure spans on-premise and multi-region cloud deployments for added resilience. Node operators include P2P, Stakefish, StakingFacilities, and Everstake.
During the October 20, 2025 AWS outage, CCIP remained fully operational. Other cross-chain providers experienced disruptions during that incident.
CCIP’s infrastructure diversity kept the protocol running without downtime. This resilience directly reinforced the NEC’s decision to select CCIP.
Chainlink CCIP is already active for wstETH transactions across Ethereum, MegaETH, and Monad. Additional chains will be onboarded in stages over the coming months.
CCIP also powers Lido’s Direct Staking rails for L2 networks. Users on Arbitrum, Base, and Optimism can stake ETH and receive wstETH directly.
Rate Limiting and Token Sovereignty Reduce Structural Risk CCIP provides native rate-limiting support on a per-chain-lane basis for wstETH. Each lane carries a defined transaction capacity and a set replenishment rate.
These limits act as circuit breakers during extreme volatility or operational stress. Lane-specific configurations are publicly accessible on the CCIP Directory.
Siloed bridge deployments ensure each lane only connects Ethereum Mainnet to one destination chain. Any issue affecting one chain stays contained to that specific lane.
This differs from meshed bridge setups, where problems can spread across multiple connected chains. Siloed architecture reduces the contagion risk seen in past bridge exploits.
Lido contributors identified issuer sovereignty as non-negotiable, asking whether infrastructure “preserves issuer control, or does it introduce hidden, proprietary dependencies.”
Chainlink’s Cross-Chain Token standard directly addresses this concern by preserving full DAO sovereignty over all wstETH token contracts.
No CCIP-specific logic is required within those deployments. LayerZero’s OFT standard, by contrast, tightly couples token contracts to its own infrastructure.
Lido contributors are also working with Chainlink to add secondary confirmations for large wstETH transactions. An additional attestation will be required before such transactions are finalized.
Offchain monitoring systems detect abnormal blockchain activity in real time. These controls build a layered security framework for wstETH’s cross-chain expansion.
A pointed critique from inside Ethereum’s developer ranks argues that ether’s 65% slide against Bitcoin (BTC) since the Merge stems from specific execution failures at the Ethereum Foundation, not from broad market cycles or coordination problems.
Reid, an ICO-era participant who still builds on Ethereum (ETH), published the indictment, framing the underperformance as accumulated execution debt with names, dates, and missed product calls.
A 65% Drop With Names AttachedReid’s central data point lines up with public market data. The ETH/BTC ratio peaked near 0.085 around the Merge in September 2022.
It has fallen to roughly 0.028 by late May, capturing ether’s underperformance against Bitcoin. Ether currently trades below $2,000, down 21% over the past year.
Ethereum to Bitcoin Ratio. Source: Longterm TrendsReid rejects Bankless co-founder David Hoffman’s framing of ether’s “deserved cap” as a noble ceiling. He argues the cap sits lower than bulls expected, for reasons with names and dates rather than coordination theory.
Reid covers credit and real-world assets at firms including Figure and Securitize, and discloses he is still long ether.
ESG Marketing and a Missing Staking InterfaceReid argues the Merge’s 99.95% energy-reduction message answered questions capital allocators never asked.
Institutions wanted yield, developers wanted finality, and users wanted cheaper transactions. Solana sold raw speed during the same window.
Proof-of-stake sat on the roadmap from 2015 and took seven years to ship. Solana launched mainnet beta in March 2020 and shipped wallets, decentralized exchanges, and money markets while Ethereum debated specs.
Vitalik Buterin’s writing through 2024 and 2025 shifted from Casper specs toward pluralism and network states.
Reid reads that tone as an established Ethereum cultural posture rather than an active competitive one.
The smoking gun, in Reid’s read, is the absence of a first-party staking app three years after the Merge.
The official path still requires running a validator with at least 32 ETH. Most users route through Lido, which holds about 24% of staked ETH despite repeated centralization warnings from developers.
“‘We don’t pick winners’ is what an organization says when it does not want to compete,” Reid remarked.
Follow us on X to get the latest news as it happens
Rollups as Managed DeclineThe rollup-centric roadmap drained the base layer. EIP-4844 went live in March 2024 and pushed blob fees near 1 wei through most of 2024 and 2025.
Ethereum’s quarterly transaction fee revenue has fallen roughly 95% from a Q4 2021 peak of $4.3 billion.
Ethereum Transaction Fee Since 2021. Source: Token Terminal Arbitrum has marketed 90% to 98% operating margins on its L2s. Base captured close to 70% of rollup profits by mid-2025.
Every major L2 issued its own token, fragmenting capital flows inside the ecosystem.
Reid contrasts this with Solana’s integrated L1, which has shown fee capture accruing directly to its native token.
The remaining question is whether Foundation product cadence shifts. The ETH/BTC ratio’s path through the rest of the cycle will reflect the answer.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
4 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
4 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
4 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
4 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
4 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Raydium, one of Solana’s largest decentralized exchanges, disclosed an exploit in its legacy Automated Market Maker V3 program that siphoned roughly $1.34 million from five deprecated liquidity pools. The attack targeted pools that had been phased out back in 2021, meaning no active users or current Raydium interfaces were affected.
What was taken and how The drained assets included approximately 150,177 RAY tokens, 5,603 SOL tokens, and around 893,700 USDC. The five affected pools were Sollet USDT-RAY, Sollet ETH-RAY, SRM-RAY, USDC-RAY, and RAY-SOL, all of which had been deprecated after the Serum protocol was sunset in 2021.
The root cause was a self-contained logic flaw in the liquidity provider mint validation process. The attacker created a fraudulent LP mint and used it to bypass the security checks that should have blocked the withdrawal. The pools were no longer supported within Raydium’s main software development kit or its decentralized application front end, but the smart contracts themselves were still live on-chain with real assets locked inside.
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Following the money The attacker’s wallet was traced back to KuCoin, the centralized exchange, suggesting that’s where the initial funding for the exploit originated. After the drain, roughly 810 ETH was funneled through Tornado Cash, the privacy-focused Ethereum mixer.
Raydium’s response and the bigger picture Raydium moved quickly to confirm that it would compensate the lost assets directly from its treasury. The exchange also announced a comprehensive security review of all its mainnet programs.
Raydium’s transition away from these older pools was driven by the deprecation of Serum, the on-chain order book protocol that was once central to Solana’s DeFi ecosystem. Raydium has since migrated to newer program versions including V4 and V5, which utilize virtual supply mechanisms alongside stricter account verification protocols. But the old contracts apparently weren’t fully wound down.
Raydium’s current pools, its CLMM (Concentrated Liquidity Market Maker) and newer AMM versions, were not affected. The treasury backstop means nobody who had residual funds in the deprecated pools should be out of pocket.
US authorities sanctioned Tornado Cash in 2022, and its continued use in exploit laundering gives regulators ammunition to argue for stricter oversight of DeFi protocols.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Raydium core contributor Infra confirmed Wednesday that an attacker drained ~$1.34M from the legacy AMM V3 program, a contract phased out in 2021. Current users were unaffected, the treasury will cover full compensation, and the root cause was a self-contained LP-mint validation flaw. PeckShield earlier traced the laundering across KuCoin, a Solana-to-Ethereum bridge, Tornado Cash and FixedFloat.
Solana DEX Raydium confirmed Wednesday that an attacker drained approximately $1.34 million from its legacy AMM V3 program, a deprecated contract phased out in 2021, with current users unaffected and full compensation coming from the protocol treasury.
Raydium core contributor Infra disclosed the breakdown on X: the attacker took roughly 150,177 RAY, 5,603 SOL, and 893,700 USDC across five legacy pools (Sollet USDT-RAY, Sollet ETH-RAY, SRM-RAY, USDC-RAY, RAY-SOL). The exploiter's address, `4WnPebowR4HHfumvNPaDjG6Pa5Hi1jxLm6xmmBq33QVk`, was the sole entry point. The protocol said no current users could have reached the affected pools through the UI since the contract's deprecation, and that current Raydium programs are unaffected.
The Root CauseThe vulnerability was a self-contained logic flaw in the deprecated AMM V3 program, not a key compromise or authority-level issue, according to Raydium. The contract did not properly verify the LP mint address, allowing the attacker to create a new mint and use it as the LP token, bypassing the program's proportion checks. The contract had previously been used only to place orders on the now-defunct Serum order book, and its associated liquidity had remained idle following Serum's collapse.
All other Raydium mainnet programs use a virtual supply mechanism and verify the LP mint along with related account information, preventing this class of vulnerability, the team said. Raydium core contributors are conducting a security review of all mainnet programs.
The Laundering ChainWithin hours of the theft, onchain monitors traced a cross-chain laundering sequence. Security firm PeckShield flagged the incident via its alert account, citing onchain watcher Specter. The attacker sourced seed funds from KuCoin, bridged the stolen assets from Solana to Ethereum, deposited 810 ETH into Tornado Cash, and routed a further 7 ETH through instant-swap service FixedFloat.
The sequence documents the CEX-seed-to-mixer playbook executed across two chains in a single session. KuCoin, a centralized exchange that operates KYC and AML controls, was the originating funding source. From there, stolen Solana-native assets were bridged to Ethereum, converting liquidity into ETH and gaining access to Ethereum-native privacy infrastructure. The larger ETH stream entered Tornado Cash, the privacy mixer whose smart contracts the U.S. Treasury's Office of Foreign Assets Control sanctioned in August 2022. The remaining 7 ETH went to FixedFloat, a non-custodial instant-swap service that converts assets without requiring account registration.
Raydium's Scale on SolanaRaydium is an automated market maker built on the Solana blockchain. It operates as both a concentrated liquidity AMM and a permissionless pool-creation platform, and serves as one of Solana's primary liquidity venues. The protocol holds approximately $797 million in total value locked, per DefiLlama. Its fee revenue over the trailing 30 days totaled approximately $5.15 million, per the same source. The $1.34 million drain represents less than 0.2% of the protocol's on-chain liquidity base, and the affected pools sit outside the current product surface.
