Track market-moving stories before they get noisy

Internet Computer [ICP] is up more than 12% in the past 24 hours, coming in third among CoinMarketCap’s top 100 cryptos by gains. The decentralized AI compute play mainly drove the altcoin.

Additionally, technical breakout, network activity, and a short squeeze have had a hand in the day’s rally.

ICP bulls return, eyeing $4—is it possible? The daily price action chart has surged above the range consolidation that had kept ICP between $2 and $2.80 since February. Following a breakout in the first week of May, Internet Computer rallied above $4 but has been in a correction for the past two weeks.

The correction appears to have ended at around $2.50, where it consolidated for around 10 days. Consequently, ICP broke above this range again.

The MACD bars have shown seller exhaustion, with the signal and MACD line crossover suggesting bulls’ return. The Average Directional Index (ADX) is at 19 and stabilizing, confirming this bullish outlook.

Source: ICP/USDT on TradingView As bulls reclaim the $3 mark, more capital inflows would push it toward $4. This was more likely if the altcoin stayed above the three-month consolidation market. Otherwise, the sideways consolidation may persist.

A spike in short liquidations Another factor that drove the prices of Internet Computer was the massive liquidation of short orders. More than $505 million in short liquidation leverage was at $2.78, and another $410 million was at $2.97.

A run on these $915 million orders as the price approached $3 resulted in a short squeeze. As a result, the altcoin broke above the range as price follows liquidity.

Source: CoinGlass Still, since liquidity is dynamic, there were orders forming below $2.50, which was the turning point for the current rally. This indicator suggests it could drop again if bulls do not defend $2.80 as support.

ICP burn rate and its outperformance against other networks Notably, the altcoin’s burn mechanism is helping to control the circulating supply.

In the past 24 hours, the network permanently burned more than 15k ICP, bringing this month’s total to 97k tokens. It is the best monthly burn rate since August 2025. The cumulative burned ICP tokens stood at 2.78 million as of press time.

Source: ICP Tokenomics Moreover, ICP surpassed Solana [SOL] and BNB Smart Chain [BSC] in monthly transaction volume, as per Chainspect. ICP hit a value of 6.91 billion, while SOL and BSC were at 2.97 billion and 440 million, respectively.

As such, it indicated that ICP was becoming a key blockchain thanks to the trending decentralized AI compute play.

Final Summary ICP surged by about 12% in the past 24 hours as bulls aim to reclaim $4 again.  ICP’s massive short liquidations alongside thriving network activity fueled its uptrend. 

Is ICP gearing up for much more substantial gains?

Trying to spot a leading cryptocurrency whose price remains in green territory on a weekly scale is not an easy task given the major collapse that the broader market has experienced over the past several days.

Internet Computer (ICP) is one of the few gainers, while certain analysts believe its valuation could reach much higher levels soon.

What’s Next? Despite Bitcoin’s 11% weekly plunge and Ethereum’s 10% drop, ICP is up 3% over the same period and currently trades just north of $3. Its market capitalization has risen to almost $1.7 billion, making it the 53rd-largest cryptocurrency.

Among the main reasons for the ascent is the advancement related to the Internet Computer ecosystem. The popular X account BSCN revealed that the protocol has processed 7.2 million transactions in the last month, more than any other chain. Solana comes in second with less than 3 million.

ICP’s positive performance has drawn the attention of traders and analysts, prompting a wave of optimistic predictions. X user Crypto Tony, for instance, argued that a reclaim of $3.15 could open the door to a long position up to $3.50 and $4, “while we hold above.”

JAVON MARKS noted ICP’s cross above $3, seeing a potential for a 220% explosion towards $10. Such a rise wouldn’t be unprecedented for the asset, since in its early days it briefly hovered beyond $400.

Prior to that, X user Nehal also gave their two cents. The analyst observed ICP’s price trajectory to estimate that a confirmed breakout above the descending resistance around $4.50-$5 could trigger a substantial rally toward $8-$12, with $16+ possible if momentum accelerates.

“Rejection at resistance could send price back toward the $2-$2.50 support zone,” they added.

Abandoning Exchanges The recent shift from centralized trading venues toward self-custody methods reinforces the bullish forecasts mentioned above. According to CoinGlass, exchange outflows have outpaced inflows in recent days, indicating that investors are in no rush to sell their holdings.

ICP Exchange Netflow, Source: CoinGlass Meanwhile, ICP’s Relative Strength Index (RSI) remains in neutral territory but has been gradually nearing overbought levels, which usually precede a price correction. The technical analysis tool measures the speed and magnitude of recent price changes, with values ranging from 0 to 100. Ratios above 70 signal that a correction could be on the way, while anything below 30 is considered a buying opportunity. As of press time, ICP’s RSI stands at around 62.

ICP RSI, Source: CryptoWaves Tags:

Cryptocurrency prices are broadly rising on Thursday, following an overstretched downtrend. Despite sticky geopolitical tensions in the Middle East, tokens at the intersection of the blockchain technology and Artificial Intelligence (AI), including Bittensor (TAO), Near Protocol (NEAR) and Internet Computer (ICP) are testing recovery potential. 

Sentiment in the broader crypto market remains largely suppressed, as reflected in the Fear & Greed Index, holding at 12 in the Extreme Fear territory on Thursday, up from 9 the previous day. Given that crypto market behaviour tends to be emotional, investors become fearful when prices fall and greedy in bullish conditions. 

Still, extreme fear conditions offer opportunities for fresh entries when prices are low, allowing investors to ride the uptrend.

Bittensor gears up for short-term recoveryBittensor trades at $209, extending a corrective phase below the key Exponential Moving Averages (EMAs). The 50-day EMA at $251, the 100-day EMA at $257 and the 200-day EMA near $267 all sit overhead, reinforcing a bearish near-term bias while price holds under this compressed cap.

Momentum agrees with this tone, as the Relative Strength Index (RSI) hovers around 37 on the daily chart, shy of oversold but still weak. Moreover, the Moving Average Convergence Divergence (MACD) histogram remains in negative territory, hinting that sellers retain control despite the recent bounce from sub-$200 levels.

TAO/USDT daily chartOn the downside, a deeper protection is seen near the broken ascending trendline area at roughly $185. Bulls would need to reclaim the 50-day EMA at $251 to ease immediate pressure, with subsequent resistance layered at the 100-day EMA at $257 and then the 200-day EMA around $267, where a sustained break would be needed to challenge the prevailing bearish structure.

Near Protocol holds key supportNear Protocol trades at $2.00, holding above a rising cluster of moving averages but capped well below the prevailing SuperTrend resistance. The 50-day EMA at $1.92 is the nearest dynamic floor, backed by the 200-day EMA at $1.74 and the 100-day EMA at $1.73, which together still hint at an underlying constructive structure despite the recent pullback.

However, the MACD histogram remains below the zero line on the daily chart while the RSI sits near 48, suggesting fading bullish momentum and a consolidative-to-soft tone rather than an impulsive recovery.

NEAR/USDT daily chartOn the topside, the SuperTrend line at $2.87 is the key resistance that bulls would need to reclaim to revive a stronger upside phase. On the downside, initial support lies at the 50-day EMA around $1.92. A daily close below this level would expose the medium-term supports at the 200-day EMA near $1.74 and the 100-day EMA close to $1.73, where buyers are likely to defend the broader uptrend structure.

Internet Computer eyes a steady rebound toward $3.00Internet Computer trades at $2.27, extending its retreat beneath all the major moving averages and keeping a bearish near-term bias. The 50-day, 100-day and 200-day EMAs at $2.60, $2.66 and $3.00, respectively, all sit overhead and suggest rallies remain corrective within a broader downtrend, while the SuperTrend line near $2.97 reinforces this cap.

Momentum is weak but not extreme, with the RSI hovering around 40, hinting at persistent selling pressure rather than a clean oversold setup.

ICP/USDT daily chartOn the topside, initial resistance lies at the 50-period EMA around $2.60, followed by the 100-day EMA near $2.66. Above these zones, the SuperTrend barrier at roughly $2.97 and the 200-day EMA close to $3.00 form a thicker supply band, ahead of the broader downward resistance trendline referenced by the prior break area near $3.90.

With no clear indicator-based supports immediately below the price on the daily chart, any further slide from current levels would leave ICP vulnerable to probing fresh lows until a new demand base emerges on the chart.

(The technical analysis of this story was written with the help of an AI tool.)

Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.

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Celsius Network just got the green light to take Tether to court over one of the biggest disputes in recent crypto history – a $4 billion lawsuit centered around the liquidation of Bitcoin during Celsius’s collapse in 2022.

A U.S. bankruptcy judge has allowed the case to move forward, rejecting major parts of Tether’s attempt to shut it down. The ruling could have lasting consequences for how global crypto firms are held accountable in U.S. courts, especially when billions are on the line.

Here are the deets.

Tether’s “Fire Sale” of Bitcoin Under ScrutinyThe case goes back to June 2022, when Celsius was already under pressure as crypto markets crashed. Tether, which had lent money to Celsius, allegedly sold over 39,500 BTC at an average price of $20,656, well below market value at the time. Celsius says this was done without proper notice AND in violation of a 10-hour waiting period that was part of their agreement.

Celsius claims this move not only broke their contract, but also amounted to fraudulent and preferential transfers under U.S. bankruptcy law. At today’s prices, Celsius says the early liquidation cost them over $4 billion worth of Bitcoin.

The BTC, according to court documents, was later moved to Bitfinex, Tether’s sister company.

Tether’s Jurisdiction Argument FailsTether tried to get the case dismissed, arguing that a U.S. court has no authority since the company is based in the British Virgin Islands and Hong Kong. But the judge disagreed.

The court found that Tether used U.S.-based personnel, bank accounts, and communications in its dealings with Celsius enough to consider the activity “domestic.” That ruling now opens the door for Celsius’s lawsuit to proceed in the U.S., even though Tether operates offshore.

Some lesser claims were dismissed, but the judge is allowing Celsius to pursue key charges – including breach of contract, fraudulent transfer, and preferential transfer.

Big Implications for Crypto Lending and StablecoinsThis isn’t just a courtroom fight between two crypto companies. The ruling could influence how similar cases are handled in the future especially when it comes to stablecoin issuers, asset custody, and cross-border lending practices.

If Celsius proves its claims, it could raise serious questions about how major players like Tether manage client assets during times of market stress.

Also Read : Tether Keeps Expanding Despite Legal PressureWhile the legal battle continues, Tether isn’t slowing down. The company recently bought a majority stake in Twenty One Capital, a firm linked to Strike CEO Jack Mallers. With that move, Tether is now connected to the third-largest corporate Bitcoin holder in the world.

Tether also transferred nearly 37,230 BTC, worth about $3.9 billion, to addresses tied to the platform further strengthening its position in the Bitcoin market.

In the middle of all this, CEO Paolo Ardoino has dismissed talk of a Tether IPO. Even as speculation swirls over a possible $500 billion valuation, Ardoino said the company has “no plans” to go public.

What’s Next?The case now heads to the next phase, with Celsius aiming to hold Tether accountable for what it sees as a massive breach of trust. 

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

We’ll keep you updated on how this plays out – right here on Coinpedia. 

FAQsWhat exactly did Tether do wrong in the Bitcoin liquidation, and how did it violate the agreement with Celsius?

Celsius alleges Tether conducted a “fire sale” of over 39,500 BTC without proper notice and below market value, violating a 10-hour waiting period specified in their agreement. Celsius claims this breached their contract and constituted fraudulent and preferential transfers under U.S. bankruptcy law, costing them over $4 billion.

How does the court’s ruling on U.S. jurisdiction affect other offshore crypto companies?

The court’s ruling, which found U.S. jurisdiction over Tether despite its offshore base due to “domestic” activities (U.S.-based personnel, bank accounts, communications), sets a significant precedent. It suggests that offshore crypto companies with substantial operational or transactional links to the U.S. may be subject to U.S. legal scrutiny and accountability, regardless of their official incorporation location.

Story Ends Here

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A US bankruptcy judge has granted permission for Celsius Network, the bankrupt cryptocurrency lender, to pursue its lawsuit against Tether, the issuer of the market’s largest stablecoin, USDT.

Celsius Alleges ‘Fire Sale’ Of BTC  According to the filing, Celsius claims that it was in the process of preparing Bitcoin (BTC) to meet a collateral demand from Tether when Tether’s representatives insisted on immediate payment. 

This demand led to what Celsius describes as a “fire sale” of its collateral, resulting in the sale of 39,542.42 BTC. The company had transferred this amount to Tether as collateral in the 90 days leading up to its bankruptcy, which included various “top-up transfers” and new loan collateral.

The details of the case reveal that Celsius is seeking the return of approximately 57,428.64 BTC, valued at around $4 billion, in addition to claiming $100 million in damages for breach of contract. 

However, there is a notable discrepancy regarding the valuation of these Bitcoin transfers; while Celsius demands the return of the full amount, Tether’s own communications suggest that the value involved is only $2.4 billion.

Is Tether Preparing For Its Legal Defense? In its legal arguments, Celsius has asserted that Tether’s actions reflect a broader “scheme to exploit the US cryptocurrency market,” which they believe could serve as a basis for jurisdiction in this case. 

Moreover, Celsius contends that the transfers made to Tether were preferential and should be scrutinized under bankruptcy law. They argue that the stablecoin issuer received more than it would have in a Chapter 7 liquidation, thus establishing a preference claim.

Tether, for its part, dismissed the lawsuit back in August 2024 as a “shake down,” asserting that Celsius was responsible for providing additional collateral as Bitcoin prices fluctuated. Tether maintains that their demands were justified and that Celsius’s mismanagement should not impose undue costs on them.

On Wednesday, Tether CEO Paolo Ardoino shared a brief video clip on the social media platform X, formerly known as Twitter, depicting a gladiator in a combat arena.

This could indicate that the company will defend itself against Celsius’ claims, which could result in a prolonged legal dispute between the two parties. However, Tether’s official statement on the matter is still pending.

The daily chart shows the crypto market cap at $3.32 trillion. Source: Total on TradingView.com In addition to the market’s regulatory developments, Bitcoin experienced a significant increase, nearing its record high of $111,800 reached in mid-May of this year. As of this writing, the market’s leading cryptocurrency trades at $108,689, representing a 3% price increase in the 24-hour time frame. 

However, BTC reached a three-week high of $109,800 earlier on Wednesday, but was unable to surpass its nearest resistance at the $110,000 mark.

Featured image from DALL-E, chart from TradingView.com 

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Stablecoin issuer Tether has agreed to pay $299.5 million to the Celsius Network bankruptcy estate, settling years of litigation tied to the crypto lender’s 2022 collapse. 

The payment is far below the nearly $4.5 billion Celsius originally sought in bitcoin.

The Blockchain Recovery Investment Consortium (BRIC) — a partnership between VanEck and GXD Labs — announced the settlement Tuesday, saying it settles “all issues” between Tether and the Celsius estate. 

“We are pleased to have resolved Celsius’s adversary proceeding and related claims against Tether,” said David Proman, managing partner at GXD Labs.

Tether and the Celsius collapse The settlement ends one of the most contentious cases in crypto bankruptcy history. Celsius sued Tether in August 2024, claiming the stablecoin issuer improperly liquidated roughly 39,500 Bitcoin used as collateral before Celsius filed for bankruptcy in July 2022. 

Celsius said Tether violated an agreement requiring a 10-hour notice before selling the assets, costing the lender any remaining equity in the position.

Tether pushed back, calling the suit a “baseless shakedown.” The company said it acted within the terms of a 2022 agreement requiring Celsius to post more collateral as Bitcoin prices fell.

When Celsius failed to meet the margin call, Tether said it liquidated the bitcoin at Celsius’s direction to cover an $815 million debt.

A U.S. bankruptcy judge in New York allowed Celsius’s case to move forward earlier this year, though Tether denied wrongdoing.

The $299.5 million payment was arranged through BRIC, a joint recovery vehicle set up in early 2023 to pursue claims and recover assets from collapsed crypto firms. 

BRIC was appointed by the Celsius debtors and creditors’ committee in January 2024 to oversee asset recovery and litigation management, according to the BRIC release on the matter.

While the payment represents a win for Celsius creditors, it’s a modest one compared to the scale of losses from the company’s collapse.

Celsius, once one of the largest crypto lenders, froze withdrawals in mid-2022 amid plunging token prices and failed investments. Its bankruptcy exposed billions in customer losses and alleged mismanagement by top executives.

Former Celsius CEO Alex Mashinsky was sentenced in May to 12 years in prison for fraud and market manipulation. Prosecutors said he misused customer funds and inflated the price of the platform’s CEL token. In June, Mashinsky agreed to forfeit any claims to assets from the bankruptcy estate.

The Celsius collapse became one of the defining moments of crypto’s 2022 credit crisis, alongside failures at Voyager, BlockFi, and FTX.

The fallout triggered a wave of litigation and recovery efforts that continue to reshape how courts treat crypto lending and collateral agreements.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

Bhutan moved $22.4 million in Bitcoin out of sovereign wallets this week, including a direct transaction to institutional market maker QCP Capital. The Himalayan nation’s crypto portfolio has dropped from a $1.4 billion peak to about $412 million.

The outflows continue a pattern of periodic liquidations by the Royal Government of Bhutan, which began mining and holding Bitcoin in 2019. These recent transactions highlight questions facing sovereign crypto strategies amid ongoing market pressures.

Recent Bitcoin Sales and Transaction PatternsBlockchain analytics platform Arkham confirmed the Bitcoin sales. Two major outflows came from Druk Holding Investments (DHI), Bhutan’s sovereign investment arm. The transactions included 184.03 BTC, worth $14.09 million, and 100.82 BTC, valued at $8.31 million, five days earlier. The latter went directly to labeled addresses tied to QCP Capital, a Singapore-based institutional market maker active in derivatives and spot markets.

According to Arkham’s analysis, Bhutan usually sells Bitcoin in roughly $50 million tranches. Historical data shows especially heavy sales between mid and late September 2025, with multiple transactions surpassing $50 million each. The current $22.4 million in weekly outflows is smaller than past sales, suggesting either more measured liquidation or reduced holdings.

Recent Bitcoin transactions from Bhutan’s sovereign wallets show outflows totaling $22.4 million (Arkham)The QCP Capital transaction signals a strategic liquidation rather than distressed selling. Market makers such as QCP enable large block trades without major market disruption. This allows sovereigns to exit positions while minimizing price impact, unlike direct exchange deposits that may trigger sharper reactions.

Bhutan’s Bitcoin Mining Operation and ProfitabilityBhutan’s Bitcoin strategy began in 2019, with DHI launching a mining operation powered by the country’s abundant hydroelectric resources. Arkham estimates that Bhutan has generated over $765 million in Bitcoin profits since its inception, while total energy costs were about $120 million. Hydropower has kept costs low compared with competitors that rely on fossil fuels.

The 2024 Bitcoin halving fundamentally changed mining economics. This event, which occurs about every four years, halves block rewards. The halving essentially doubled the cost to mine one Bitcoin, making operations less efficient. Data indicate that Bhutan mined most of its holdings before April 2024 and then sharply cut back production.

Pre-halving profit margins enabled Bhutan to amass substantial holdings at favorable costs. However, reduced efficiency after halving likely pushed the nation to monetize its reserves rather than continue energy-intensive mining at lower returns. This strategic shift from accumulation to selective selling mirrors a wider industry trend as sector profitability compresses.

Portfolio Decline and Current HoldingsBhutan’s cryptocurrency portfolio has experienced a dramatic contraction. Arkham Intelligence data show DHI’s on-chain assets currently total about $412 million, down over 70% from the $1.4 billion peak. The portfolio consists mostly of 5,700 BTC, with negligible holdings in Ethereum and other tokens.

The portfolio decline is due to ongoing sales and depreciation in the Bitcoin price. Some value erosion came from strategic liquidations for profit or fiscal needs, but broader market conditions during 2025 and early 2026 also contributed. Bhutan’s peak holdings aligned with Bitcoin’s price highs, amplifying the percentage drop as prices corrected.

Transaction history shows DHI’s main exchange partners are Binance—which has $261 million in transferred value, or 68% of activity—and Celsius Network, with $118 million (31%). Smaller amounts moved through Kraken. These exchange interactions, combined with direct transactions with market makers, show a sophisticated approach to treasury management by Bhutan.

The Druk Holding and Investments entity manages these digital assets along with traditional investments as part of Bhutan’s broader diversification strategy. The integration of cryptocurrency into the sovereign treasury positions Bhutan among a select group of nations involved directly in digital asset markets. Whether Bhutan’s continued liquidations indicate a full exit or just portfolio rebalancing remains an open question as observers track sovereign crypto adoption trends.

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Key Takeaways NEAR Protocol experienced a sharp 17% decline following Arthur Hayes’ announcement that he liquidated his complete NEAR and Hyperliquid (HYPE) positions. The BitMEX co-founder pointed to escalating energy costs related to Iran conflict, anticipated AI company public offerings before Q3, and unfavorable macro timing. Blockchain analytics verified Hayes disposed of 247,334 HYPE tokens valued at approximately $18 million, while his NEAR sale quantity remains unconfirmed. Open interest in NEAR futures contracts plummeted over 21% to $543 million, indicating traders are unwinding positions instead of establishing new ones. Critical support zone for NEAR Protocol exists at $2.00–$2.01, with secondary support around $1.73 should the primary level fail. NEAR Protocol experienced a devastating selloff of nearly 17% on June 4, 2026, marking it as among the day’s most significant losers in the cryptocurrency market. The dramatic price collapse was primarily attributed to Arthur Hayes, the BitMEX co-founder, publicly disclosing his decision to liquidate all his NEAR and Hyperliquid holdings.

NEAR Price Hayes made his strategic withdrawal public, outlining three primary catalysts: escalating energy prices connected to ongoing Iran military operations, three major artificial intelligence corporations planning initial public offerings ahead of early Q3, and concerns that President Donald Trump might adopt an antagonistic stance toward AI technology. He indicated a comprehensive analysis would appear in his upcoming essay titled “Reality Test,” scheduled for release the subsequent Tuesday.

Blockchain monitoring platform Lookonchain verified that Hayes liquidated 247,334 HYPE tokens, generating approximately $18.02 million in proceeds. While the precise volume of NEAR tokens sold remained undisclosed, the mere public acknowledgment of the transaction significantly undermined market confidence in the asset.

Hayes had earlier expressed bullish sentiment, projecting HYPE could climb to $150. His abrupt reversal toward a defensive posture follows an extended bull run. In response to community inquiries, he noted, “I’ll be back,” indicating the withdrawal represents a strategic repositioning rather than a complete abandonment of the asset.

I just dumped my entire $HYPE and $NEAR position, I will explain why in my essay "Reality Test" dropping next Tuesday.

TLDR:
– Higher energy prices due to Iran war and inventory restocking
– 3 Mega AI IPOs between now and early Q3
– Prediction that Trump goes anti-AI to win…

— Arthur Hayes (@CryptoHayes) June 4, 2026

Futures Market Signals Growing Caution NEAR futures trading activity surged past $2.8 billion during the selloff day, yet open interest simultaneously contracted by more than 21% to approximately $543 million. This divergence — elevated trading volume paired with declining open interest — characteristically indicates traders are liquidating leveraged positions rather than initiating fresh trades.

This market behavior reflects a broader flight to safety across the cryptocurrency derivatives landscape, extending beyond just Hayes-related selling pressure.

Technically, NEAR Protocol had already shown weakness prior to the announcement. The token encountered strong resistance within the $3.00–$3.10 zone before reversing lower. It subsequently breached key short-term moving averages, placing bullish traders in a vulnerable position.

Critical Price Support Under Test At press time, NEAR was changing hands around $2.05, representing approximately a 12.8% decline. The $2.00–$2.01 zone has emerged as the critical battleground for near-term price action.

Source: TradingView Should this support level prove resilient, a technical rebound toward $2.20–$2.30 becomes feasible. Any meaningful recovery would necessitate reclaiming the $2.55 threshold.

Conversely, a breakdown below $2.00 would likely trigger a test of support near $1.73, with an additional consolidation zone stretching between $1.45 and $1.65.

NEAR currently trades beneath its short-term momentum indicators, with the $2.00 threshold serving as the decisive near-term support benchmark.

Near Protocol [NEAR] extended its recovery over the past 24 hours, climbing 11.67% to $2.08 at press time, as traders returned to the market following a period of heavy selling. 

Notably, trading activity strengthened alongside the rally, with daily volume rising 25.41% to $625 million. This combination suggested that buyers did not rely on thin liquidity to drive prices higher. 

Instead, fresh capital appeared to support the advance. The rebound also developed after NEAR briefly traded near the $1.85 region, where buyers previously stepped in aggressively. As a result, the market regained confidence around the $2.00 psychological level. 

However, traders still faced overhead resistance, which continued limiting attempts to extend the recovery toward higher price zones.

Why are Binance traders staying bullish? Market sentiment remained constructive despite the recent volatility. 

At the time of writing, Binance’s Top Trader Long/Short Ratio showed that 62.51% of positions stayed long, while only 37.49% remained short. The positioning produced a Long/Short Ratio of 1.67, highlighting continued confidence among larger participants. 

The data suggested that experienced traders had not abandoned bullish exposure during the recent correction. Instead, they appeared to anticipate additional upside after NEAR reclaimed the $2.00 area. Although long-heavy positioning occasionally creates liquidation risks, the current structure reflected persistent optimism rather than excessive euphoria. 

Furthermore, the ratio had remained elevated throughout much of the recent recovery phase, reinforcing the view that traders continued favoring higher prices.

Source: CoinGlass NEAR challenges resistance as RSI rebounds The technical structure improved significantly after NEAR defended the $1.857 support level and recovered toward the $2.207 resistance zone. The daily chart showed that buyers regained control after a sharp sell-off erased gains from the recent double-top formation near $2.80.

Since then, the price has steadily recovered and returned above the psychological $2.00 threshold. RSI also reflected improving conditions. The indicator previously dropped near the 40 level during the decline before rebounding to 51.01 at press time. Although RSI remained below its moving average of 61.46, it no longer signaled oversold conditions. 

In addition, the latest sequence of higher lows suggested strengthening demand. Should buyers secure a decisive break above $2.207, the recovery structure would remain intact and could support a broader advance.

Source: TradingView Liquidity clusters gather just overhead Liquidation data revealed a growing concentration of leverage above current prices. 

The Binance liquidation heatmap highlighted one of the largest liquidity clusters between roughly $2.13 and $2.15, directly above NEAR’s current trading range. Markets frequently gravitate toward these zones because forced liquidations create additional order flow.

For that reason, the cluster represented a potential short-term magnet for price action. Beyond that area, several smaller liquidity pockets extended toward $2.18 and $2.20. As buyers continued pushing upward, those positions could become increasingly vulnerable. 

Nevertheless, traders would likely monitor whether NEAR could absorb profit-taking pressure around these levels before targeting higher resistance areas.

Source: CoinGlass Can NEAR reach $2.80 next? NEAR has already reclaimed key support and restored bullish sentiment among Binance’s top traders. RSI has recovered from oversold territory, while liquidation clusters have remained positioned above current prices. 

If buyers clear the $2.20 resistance zone, price would likely target higher liquidity levels and could eventually challenge the major $2.80 resistance area. However, failure to overcome nearby resistance would keep NEAR trading within its current recovery range.

Final Summary NEAR reclaimed $2.00 as volume and trader confidence continued improving. Heavy liquidity above price could attract NEAR toward the $2.20 zone.

TLDR: Unstoppable Wallet completed NEAR Intents integration across app, web, and Telegram swap tools.  1Click Swap API now enables crosschain execution with near-instant settlement and routing options.  Integration adds DEX-level privacy with no KYC and no metadata tracking across swap transactions ecosystem.  Users can choose tradeoffs between speed, cost, and liquidity routes within Unstoppable Wallet integration layer. NEAR Protocol integration with Unstoppable Wallet expands crosschain swap capabilities via NEAR Intents. Unstoppable Wallet has completed integration of Intents 1Click Swap API across app, Telegram bot, and web interface. 

The rollout enables faster crosschain swaps with privacy features and access to decentralized liquidity routing. The update extends NEAR Intents as a universal liquidity layer across multiple user-facing swap environments.

NEAR Protocol Intents Integration Expands Across Unstoppable Wallet Platforms Unstoppable has completed the integration and testing phase of NEAR Intents across its wallet ecosystem. 

The rollout now spans all Unstoppable products, embedding swap infrastructure directly into its core user environments and expanding functionality across multiple access points.

The 1Click Swap API now runs across the Unstoppable mobile application, Telegram bot, and web interface. This integration standardizes crosschain execution flows and allows users to initiate swaps from different entry points without changing platforms or relying on external routing tools.

The system introduces a privacy-focused structure with no KYC requirements and no metadata tracking inside the integration layer. Transactions execute near instantly, positioning the experience closer to centralized exchange speed while still relying on decentralized routing infrastructure powered by NEAR Intents.

According to Unstoppable, the setup improves access to a wider asset range across multiple chains. It also provides competitive pricing in many stable swap scenarios. 

The routing system operates alongside existing pathways, giving users multiple execution options within a single interface.

Unstoppable now completes its NEAR Intents @near_intents integration and testing phase and now includes in all Unstoppable products.

WHY THIS IMPORTANT?

This gives you DEX-level privacy with centralized exchange speed.

Plus, in many cases NEAR able to provide the most… pic.twitter.com/l2OlF9UmZb

— Unstoppable | Privacy Wallet (@unstoppablebyhs) June 8, 2026

Crosschain Liquidity Layer Drives Broader Swap Accessibility The integration extends NEAR Intents’ universal liquidity layer to a broader user base across several interfaces. This allows users to access crosschain swaps without relying on centralized exchange environments or fragmented third-party routing systems.

NEAR Intents operates as a liquidity aggregation and routing framework across decentralized markets. It builds execution paths that pull liquidity from different sources, helping optimize swap outcomes depending on real-time market conditions.

Unstoppable Wallet users retain full control over execution preferences during swaps. They can select between different tradeoffs, including speed, cost efficiency, and routing complexity, depending on the asset pair and market environment.

The development teams also confirmed additional NEAR-related integrations are in progress. While full details remain undisclosed, Unstoppable indicated that further expansion of the integration pipeline is already underway.

On June 11, NEAR Protocol officially launched its [email protected] Incentive Milestone Plan, targeting users who use the protocol’s cross-chain private transaction execution tool, Confidential Intents, via their website. To date, no tokens have been added to users’ accounts under this initiative. Once Confidential Intents’ total value locked (TVL) hits $70 million, the system will take a snapshot and distribute milestone tokens to eligible accounts. Past user activity counts toward their allocation quota and will stay updated until the snapshot condition is fulfilled—meaning new users who join now and ramp up their activity can still secure a larger allocation share. Drop 1 of the plan will roll out 333,333 milestone tokens. These tokens are locked rewards and are initially non-transferable and non-sellable. Once NEAR’s volume-weighted average price (VWAP) holds steady at $3.33 or higher for three consecutive days, the milestone tokens will convert to NEAR at a 1:1 ratio. Key eligibility rules apply: Each wallet is limited to a maximum of 2% of this round’s total airdrop pool. To qualify for the snapshot, users must maintain a confidential balance of over $100 in any asset on near.com and complete at least one confidential swap. Holdings and activity above this threshold will impact their final allocation amount. Future airdrop rounds and additional milestones are planned, with each round’s conditions tied to higher levels of community engagement.

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Inside Grayscale’s Amended NEAR ETF Filing Grayscale submitted the revised registration statement on filed Friday, June 12 as Amendment No. 1 to Form S-1. It comes on the heels of the BNB coin ETF amendment.

Moreover, it follows the trust’s earlier registration statement filed in January. It adds the SEC Registration No. 333-292834 to the filing, which was missing in the previous submission.

Custody arrangements marked one of the biggest differences. The initial application lists Coinbase Custody Trust Company, LLC as the sole custodian.

The updated version includes a replacement for Coinbase Custody as the primary custodian with BitGo Bank & Trust N.A. in its place. However, Coinbase Custody will remain as an additional custodian for the Grayscale NEAR ETF.

The asset manager also beefed up the terminology around staking activities. The revised filing makes a clear statement that they will only offer exposure to NEAR staking yield via the ETF only if the US law permits it. It confirmed that neither the trust, sponsor nor the custodians are currently staking NEAR tokens.

With this filing, Grayscale eyes to expand its altcoin ETF line. Recently, it launched the Hyperliquid staking ETF in June.

Meanwhile, the statistics of the NEAR Protocol ecosystem were also updated. The modified filing reveals circulating supply grew to 1.3 billion NEAR tokens as of March 31, 2026, and the market capitalization dropped to $1.5 billion. Also, the filing disclosed that the token’s market ranking has dropped from No. 39 to No. 43.

Of particular note, the amendment also provides for the addition of Davis Polk & Wardwell LLP attorney Dylan H. Lojac as legal counsel. It also included formatting changes for compliance purposes related to the new checkbox for the emerging growth company election.

The SpaceX IPO Factor The filing comes after crypto narratives related to artificial intelligence are resurfacing, sparked by Elon Musk-led SpaceX’s successful IPO launch. It spurred a surge of interest in aerospace AI-related stocks and digital assets and next-generation technology narratives.

Over the past few months, NEAR has been trying to establish itself as a blockchain that is focused on decentralized AI applications and autonomous agent infrastructure. Now, it is attracting renewed investor interest.

NEAR Protocol [NEAR] has stayed on the bullish side of the market as it continues to rise, with the altcoin pulling a 14% surge.

While the data points to a strong chance that NEAR rallies further, a structural gap on the chart still signals the risk of a bearish decline should selling pressure surface, even as the altcoin retains room for another upswing.

NEAR’s gains track rising on-chain capital Several liquidity shifts across the market over the past day have driven NEAR’s recent gain.

One of these is the surge in Total Value Locked (TVL), a measure that in some ways reflects the on-chain capital and overall health of the token. At the time of writing, TVL had grown by roughly $19.6 million between the 13th and 15th of June, pushing the total to $168.47 million.

Source: DeFiLlama The surge implies that the protocol sat in a healthy state and that investor confidence has gradually built, with inflows being locked up as holders anticipate decent price performance over the near to long term.

The spot market has not mirrored that buy sentiment perfectly, as Netflow data showed more selling than buying of NEAR over the past day, with a $1.22 million difference that remains a key concern for whether the price can stay sustainable.

A major structural gap sits above price Beyond the spot selling, the major concern is the resistance supply sitting ahead of price, which could weigh on NEAR significantly.

At the time of writing, NEAR’s recent rally had pushed the altcoin into a supply-side fair value gap (FVG). The gap often houses selling pressure that could drag on price if the buying momentum behind the rally remains minimal.

Source: TradingView Should the supply side exert that bearish pressure, the asset could drop toward two key levels below, the zone between $2.13 and $2.05 on the chart, where buy orders may sit. Further selling momentum could then drive NEAR back to the demand-side FVG.

However, invalidating the supply-side FVG could send price as high as the $2.97 and $3.08 levels, where it could face slight pressure from traders in that zone.

Momentum signals favor NEAR’s upside The chances of NEAR extending its rally to the upside remain high, with several valid signals pointing toward that outcome.

At the time of writing, the moving average convergence divergence (MACD), which tracks the altcoin’s momentum, showed a high chance of another leg up. The blue MACD line sat close to crossing above the orange signal line, a move often associated with an upside rally.

Source: TradingView The most notable signal of continued upside comes from the Chaikin Money Flow (CMF), a key indicator that tracks whether buying or selling volume dominates the market.

At the time of writing, the CMF had surged, implying that buy volume has outweighed sell volume. CoinGlass reported spot volume at $122.85 million and futures volume at $732.30 million.

Final Summary NEAR climbed 14% as more capital flowed into the protocol, a sign that investor confidence has been building rather than fading. Despite the gains, signs of selling in the spot market leave the rally’s staying power in question, making the days ahead the real test.

Zcash (ZEC), NEAR Protocol, and Hyperliquid (HYPE) edge higher on Tuesday, extending their recovery so far this week. Retail and institutional demand heats up for altcoins, fueling a rebound as prices fully absorb the impact of Arthur Hayes's exit. 

Demand revives week for Trinity after Arthur Hayes exitArthur Hayes dumped all his holdings of Hyperliquid and NEAR Protocol earlier this month, followed by Zcash due to the counterfeiting vulnerability exposed in Zcash’s Orchard Shielded Pool. More than a week after his exit, these altcoins reflect a nearly synchronized V-shaped reversal. 

Retail interest rebuilds in the ZEC, NEAR, and HYPE futures amid the minor rebound. CoinGlass data show ZEC and NEAR Open Interest (OI) rising to $1.24 billion and $558.20 million, respectively, reflecting an upward tick in the OI charts, closing toward last month's $1.67 billion and $857.21 million peaks.

In the case of Hyperliquid, OI is up roughly 13% to $3.12 billion on Monday, while the institutional support resurfaces. SoSoValue data show that HYPE-focused ETFs recorded $17.19 million in inflows, supporting its 4% gains on Monday.

Zcash and NEAR Protocol Open Interest charts. Source: CoinGlass

HYPE derivatives data. Source: CoinGlassZcash extends steady recovery above $500Zcash hovers above $500 at press time on Tuesday, holding a constructive bullish bias as it remains well above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) clustered between roughly $375 and $480.

The 78.6% Fibonacci retracement at $595, measured over the downswing from $690 to $250, now underpins the advance as nearby resistance. A decisive close above this zone could open the path toward the $800 mark.

Momentum gradually gains strength on the daily chart, with the Moving Average Convergence Divergence (MACD) crossing above the signal line, while the Relative Strength Index (RSI) at 54 hint that positive momentum is building without yet reaching overbought conditions.

ZEC/USDT daily price chart.Looking down, the $500 psychological mark, close to the 50-day EMA at $478, serves as a crucial support zone, followed by the 50% retracement level at $470 and the 100-day EMA at $433.

NEAR Protocol extends recovery to $2.50NEAR Protocol edges higher by over 4% at press time on Tuesday, approaching the $2.50 mark with its fourth consecutive day of rally. The AI token holds a constructive bullish bias as price sits well above the 50-, 100-, and 200-day EMAs clustered between roughly $1.74 and $1.98. This positioning suggests the broader uptrend remains intact, while the RSI at around 60 on the daily chart indicates positive but not overextended momentum. Meanwhile, the MACD is on the verge of crossing above its signal line, hinting that bullish pressure may be rebuilding.

The 78.6% Fibonacci retracement level at $2.68, followed by the $3.18 peak from November 8 serve as overhead barriers.

NEAR/USDT daily price chart.On the downside, initial support is seen at the 61.8% Fibonacci retracement at $2.28, with further reinforcement from the 50% retracement near $2.01 and the 50-day EMA at $1.98.

Hyperliquid rally targets a new record highHyperliquid trades above $70 at the time of writing on Tuesday, extending gains for the sixth consecutive day. The rebound in HYPE from the 50-day EMA last week now forms a V-shaped reversal on the daily chart, targeting the $75.76 level.

From a technical perspective, a daily close above this zone would drive HYPE into price discovery mode, potentially targeting the 127.2% and 161.8% Fibonacci retracement levels at $82.03 and $90.02, respectively.

Momentum remains strong on the daily chart, with the RSI rising to 64 and the MACD crossing above its signal line, reaffirming renewed bullishness.

HYPE/USD daily price chart.Looking down, the 50% retracement at $64.21 serves as the primary support floor for HYPE, as sellers regain control around $75.

(The technical analysis of this story was written with the help of an AI tool.)

Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

TLDR: NEAR Protocol has processed 5.36B transactions since its 2020 mainnet launch, nearing the 5.4B milestone. The network supports 397 active validators and a peak throughput of 4,135 TPS across 100 blocks. Analysts identify $9 as NEAR’s first major resistance, with trapped holders likely to sell at that level. A confirmed break above $9 could open a relatively clear technical path toward NEAR’s $20-plus ATH zone. NEAR Protocol is closing in on a major network milestone, with transaction data pointing to steady blockchain activity.

On-chain figures from Chainspect show the layer-1 network has processed approximately 5.36 billion transactions since its 2020 launch.

The network currently supports 397 active validators and records a maximum throughput of 4,135 transactions per second.

Meanwhile, technical analysts are drawing attention to NEAR’s price structure, which mirrors patterns seen before previous bull runs.

Network Activity Reflects Growing On-Chain Demand The approaching 5.4 billion transaction mark puts NEAR Protocol among the more active layer-1 blockchains in the current market cycle.

BSC News reported the milestone figures citing Chainspect data, noting validator count and peak TPS alongside the transaction total.

These metrics collectively reflect a network that has maintained consistent usage since its mainnet debut six years ago.

The validator count of 397 points to a reasonably distributed consensus layer. A broad validator set generally reduces centralization risk and strengthens network reliability over time. For a proof-of-stake chain, this number carries weight when evaluating long-term infrastructure credibility.

The 4,135 maximum TPS figure, measured across 100 blocks, positions NEAR among faster layer-1 networks in the space.

High throughput capacity is a key requirement for applications handling large transaction volumes, including DeFi protocols and gaming platforms. This capacity matters as developers evaluate which base layers can handle real-world scale.

Transaction volume alone does not determine a network’s value, but it does serve as one baseline signal of ecosystem usage.

As NEAR edges closer to 5.4 billion processed transactions, the milestone adds a concrete data point to ongoing conversations about the network’s adoption trajectory.

Price Structure Points to Key Resistance Levels Ahead On the technical side, analyst Flippix outlined a market structure on X that has drawn attention from traders watching NEAR’s price action.

According to the post, NEAR at approximately $2.23 has already reclaimed a price zone where major rallies historically originated.

The analyst identified two critical resistance levels: $9 as the first major test and $20-plus as the all-time high zone.

$NEAR has already reclaimed the level where previous major rallies started

Most people are focused on the ATH around $20+

But the more important level right now sits much lower

📍 First major resistance: $9

📍 ATH zone: $20+

📍 Current price: ~$2.3

The chart is showing a… pic.twitter.com/eOlz00737q

— Flippix (@Flippix_sol) June 17, 2026

Flippix noted that NEAR is not recovering from mid-range territory but rather from a historically significant demand zone where buyers previously stepped in with force.

This distinction matters to technical traders who track entry zones tied to prior cycle behavior. The positioning suggests a different recovery dynamic compared to assets bouncing from weaker support areas.

The $9 level carries particular significance because that zone marked where the previous cycle lost upward momentum.

Trapped holders from that period may look to exit around that price, creating natural selling pressure. A clean break above $9 would remove a key overhead obstacle and shift market sentiment considerably.

Above that level, the analyst noted relatively thin resistance stretching toward the $20-plus ATH region. If NEAR can confirm the multi-year downtrend reversal and clear $9, the technical path toward previous highs becomes more straightforward.

That outcome, however, remains contingent on broader market conditions and sustained buying pressure at current levels.

Theta Token is taking the blockchain to video streaming, seeking to decentralize video streaming and video on demand.

Their vision is to provide high quality video streams without the buffering issues often seen today. In addition, they plan on utilizing bandwidth and storage from users to reduce the cost of video streaming while also improving the quality.

However, with such strong competition, does it have what it takes?

In this Theta Token review, we will take an in-depth look at the project including the team, technology, unique selling points and prospects for the THETA token.

We already know that internet users have a huge appetite for video and video streaming services. That’s been proven by the popularity of YouTube, Twitch, Live.ly and the video streaming additions to Facebook and Twitter, as well as the increasingly popular Tik Tok.

In fact, networking hardware company Cisco estimates that over two-thirds of today’s internet bandwidth is taken up by video streaming. That amount is expected to increase to 82% over the next 18-24 months.

While that’s all well and good, today’s video streaming is not perfect. Many video streams suffer from what is known as “last-mile” delivery problems. The Content Delivery Networks have created an infrastructure where large datacenters provide streaming services for specific geographic areas.

However, streams are only as good as the infrastructure that feeds into the actual users homes, and this can sometimes be slow and cause frequent lag, rebuffering and choppy streams.

Traditional CDN Network vs. Theta Token "Hybrid" solution. Source: White Paper

Theta Token’s team has come up with a solution to the “last-mile” problem using decentralized blockchain technology. That has led to the world’s very first Decentralized Streaming Network (DSN). Not only that, but in September 2020 Theta Labs received the first ever decentralized streaming patent covering “Methods and Systems for a Decentralized Data Streaming and Delivery Network.”

In this blockchain network users are incentivized to share their unused memory and bandwidth to improve the overall network. This leads to better overall performance for everyone, all across the globe. According to the Theta labs founder, Mitch Liu

At its core, Theta is enabling users to share their idle bandwidth and computing resources to mine Theta tokens and in turn cache and relay video streams to others in the network

Technology behind Theta TokenThe Theta blockchain network is secured by a Proof-of-Stake consensus mechanism, which is far less demanding computationally, and has a higher transaction throughput when compared with Proof-of-Work protocols. By using PoS as the consensus mechanism it’s possible to have many different devices acting as viewers and caching nodes.

You might wonder how Theta Token is handling the issues of scalability in blockchain and video streaming. They have developed a Resource Oriented Micropayment Pool to solve scalability issues. In addition, they are implementing something called Proof-of-Engagement to track the delivery of video segments.

The distribution and collection of rewards on the platform is handled by Smart Streaming Contracts, which are a specific type of smart contracts on the Theta Token blockchain.

Here are more detailed explanations of these new concepts:

Resource-Oriented Micropayment PoolThe Resource Oriented Micropayment Pool was created by Theta Token specifically to create off-chain payment pools that users can for off-chain withdrawals. They have been designed to be resistant to double spending and also offer more flexibility than other off-chain solutions.

Resource Oriented ​Micropayment Pool ​overview. Source: Whitepaper

If a double spend is attempted it is detected by the validators on the Theta Network. One use case for the Resource Oriented Micropayment Pool is to allow for payments to multiple caching nodes without using on-chain transactions.

The major benefit of using this solution is that it allows for much greater scalability by keeping many micro-transactions off the blockchain.

Proof-of-EngagementAs you might guess from the name, this is a protocol that proves viewers have actually watched a live video. It’s a means of providing transparency for advertisers, as well as being a means for users to earn Theta tokens in return for their engagement.

The Proof-of-Engagement protocol is necessary to create a reliable measure of video stream engagement and a trustworthy way for viewers and advertisers to measure their video stream engagement.

Smart Streaming ContractsSmart Streaming Contracts are type of smart contract or incentive contract used to help facilitate reward distribution and collection.

Examples of Incentive Contracts on Theta Network. Source: Whitepaper

There are a number of use cases for Smart Streaming Contracts, including:

Advertisers rewarding streamers and viewers;Viewers gifting rewards to streamers;Gift contracts for multiple streamers;Premium or paid video content;Subscriptions to streamers content or to Decentralized Content Networks;Cachers can share rewards with viewers and content streamers.The Smart Streaming Contracts were designed to be executed by validators, which means the original person or entity who funds the contract doesn’t need to be involved with distributions or validations.

Currently these Smart Streaming contracts are being tested on the Testnet, but is expected that they will deploy on the mainnet in early 2021 with the release of the THETA mainnet 3.0. Once Smart Streaming Contracts go live on the mainnet Theta will also implement TFUEL staking and burning.

Theta Token NetworkThe THETA tokens were launched in December of 2017 and were issued as ERC-20 tokens. Once the blockchain launches (est. late 2018) these ERC-20 tokens were exchanged for native tokens at a 1:1 ratio.

These tokens were also an early part of the SLIVER.tv platform and are used to reward viewers, streamers and those who share their resources (memory/bandwidth) with the Theta Network.

In fact the mainnet did not launch until March 12, 2019, which was a few months late, but the launch went well, with no issues. In addition to swapping the ERC-20 THETA tokens, users also received an airdrop of the Theta Fuel (TFUEL) tokens.

Following that intial launch, v 2.0 of the mainnet went live in May 2020. At that time Theta introduced Guardian nodes, a revolutionary, two layer consensus mechanism to complement Enterprise validators run by a premiere set of global partners including Google, Samsung, Binance, Blockchain.com, and Gumi.

The Theta Network Value Proposition and the TFuel Token Flow

Theta Fuel was created to be similar to the “gas” used in the Ethereum network. With the launch of the mainet the Theta Fuel tokens are being used as the reward token of the Theta network.

One of the most important aspects of the Theta mainnet launch was the introduction of Theta Fuel (TFUEL), the “gas” or payment token of the Theta Network. TFUEL powers on-chain operations like payments to relayers for sharing a video stream, or deploying or interacting with smart contracts.

Relayers earn TFUEL for every video stream they relay to other users on the network. You can think of Theta Fuel as the “gas” of the protocol. In conjunction with THETA, the staking and governance token of the protocol, these two tokens make up the economic system of Theta Network.

Once the network moves to version 3.0 in the spring of 2021 Theta will add a new mechanism for staking and burning TFUEL.

Network ParticipantsThere are numerous stakeholder and nodes that help prop up the Theta Token ecosystem. The network was created with 5 major groups of stakeholders:

Streamers/Influencers – These are the content producers of the network who produce live content and videos for later consumption. They are rewarded with Theta tokens for their contributions.Viewers – The users who come to THETA.tv to consume video content. They provide viewer engagement, which is arguably the most important part of the entire video streaming network. Viewers are rewarded for viewing and engaging with videos and can also choose to be rewarded for viewing advertisements.Advertisers – They use the platform to promote services and products to the viewers. They spend Theta tokens to buy advertising time in the network, and to sponsor influencers.Caching Nodes – These are the computers and servers that provide the network with caching services to improve the quality and delivery of the video stream. They are also rewarded with Theta tokens.Ingest Nodes – These are nodes which assist in providing various bitrates, stream resolutions, etc. They provide their services to the caching nodes for live streams and are rewarded for doing so.Most recently Theta introduced their new Guardian Nodes with the May 2020 launch of version 2.0 of the mainnet. Guardian nodes are designed to finalize blocks in the Theta multi-BFT consensus protocol. These Guardian Nodes are meant to be run by members of the Theta community, and are rewarded with TFUEL. Those wishing to run a Guardian Node must have a computer or server with minimum technical specifications, and must stake 1,000 THETA tokens.

Image via Theta Token Twitter

The hardware requirements to run a Guardian Node are:

Internet speed: 5Mbps+ up and down;CPU: 8 cores or more;Memory: 32 GBytes or more;Disk size: 1TB or more, SSD hard drive preferred.The on-boarding on pre-Guardian nodes began in March 2019, and as of November 2019 Theta announced the first 100 Guardian nodes have been selected to run on the Theta testnet.

By May 2020 the Guardian nodes were transitioned to mainnet and began helping validator nodes in securing the network, producing blocks, and earning TFUEL for their contributions. The addition of the Guardian nodes helps to ensure that no single entity or group can easily control the Theta staked in the ecosystem, significantly improving the decentralization of the network.

The Guardian nodes provide additional decentralization for Theta. Image via Publish0x.com

Guardian Nodes earn a share of all the new Theta Fuel (TFUEL) generated on Theta blockchain, which is 250m annually. The proportion of TFUEL you earn as a GN depends on how much THETA you have staked relative to the total number of THETA. 

As an example, if you stake 100,000 THETA and the total network has 300m THETA stake, you are staking 0.033% of the THETA total staked to the network. That would translate into your node earning about 0.264 TFUEL per 100 block period, or 6,944 TFUEL monthly.

THETA EdgeCastThe core thesis for THETA has always been to build a fully decentralized video infrastructure that could benefit all the involved stakeholders from the platforms to the content creators and down the very end-users.

One of the ways to bring this to market includes the ability for end-users and content creators to choose which platform will be the most benefit to them. This doesn’t only include new, decentralized platforms. It also includes the existing advertiser sponsored platforms such as YouTube and Twitch, along with existing subscription based services like Netflix and Amazon Prime.

In order to make this a reality the Theta team released the beta of Theta EdgeCast in November 2020. This is the very first totally decentralized video streaming dApp built completely on the native Theta blockchain, including smart contracts. Theta EdgeCast has the ability to do video capture, the transcode it in real-time, and to cache and relay it to users all around the globe. This is a fully decentralized solution with no central servers or services. It is all accomplished through the more than 2,000 Theta edge nodes operating globally.

EdgeCast adds fully decentralized video streaming, distribution, and compute . Image via Theta.tv

EdgeCast comes as part of the Edge Node application, and users can now broadcast streams on EdgeCast or view other users EdgeCast streams, as well as earn TFUEL via the Edge Caching and Edge Compute features. The Edge Node now encompasses all aspects of decentralized video streaming, distribution, and compute in one streamlined app.

The Theta team sees EdgeCast as a preview of the future, when Theta.tv evolves from its current hybrid platform status to a fully decentralized platform. In the long term they see decentralization as a key feature for all media and entertainment. They are positioning Theta to be a part of this future, and upgrades like EdgeCast bring the project closer to this future.

With Theta as the infrastructure users of 5G, smart TVs, mobile devices, and future connected devices will have a means to efficiently transfer video and data without the need for a centralized entity controlling the ecosystem. With Theta every user and device on the network will be able to benefit from the storage, transmission, and delivery of video and other data streams.

THETA Mainnet 3.0The Spring of 2021 is set for the projected launch of Theta Mainnet 3.0 which will introduce TFUEL staking and burning, among other changes. That’s just two years after Theta initially introduced its peer-to-peer decentralized video delivery infrastructure. One year ago Theta introduced Guardian nodes to that infrastructure, as well as adding Enterprise validator nodes run by premier global partners such as Google, Samsung, Binance, Blockchain.com, and Gumi.

After Mainnet 2.0 was released in May 2020 the EdgeCast technology was introduced, adding significant enhancements to the Theta network and the video streaming capabilities of the decentralized edge network that’s been developed by Theta.

In December 2020 Theta added support for Turing-complete smart contracts, opening up a whole new realm of potential use cases and dApp feature sets. For example, the smart contract support has made it possible for Theta to launch ThetaSwap v1, the very first decentralized exchange (DEX) for the Theta network. Future upgrades could see fully digitized item ownership, innovative payment-consumption models, transparent royalty distributions, trustless crowdfunding mechanisms, and much more.

With these improvements as the foundation, Theta is now working on releasing Theta Mainnet 3.0 with two primary protocol innovations.

The first of these is the addition of Elite Edge Nodes. These are Edge Nodes that have had TFUEL staked to them, making them Elite Edge Nodes. This will enable Uptime Mining and will allow Elite Edge Nodes to earn TFUEL through the staked TFUEL, while also earnings additional TFUEL by providing higher performance for video platforms.

The overarching goal of the Theta crypto economics design is to properly incentivize and reward all Theta ecosystem stakeholders, and thus ensure the security and utility value of the Theta network. This includes a new 2-4% TFUEL inflation mechanism through Uptime Mining.

TFUEL staking and burning. Image via Theta blog

Basically Elite Edge Nodes will earn rewards based on the amount of TFUEL staked and the total uptime of the node. Additionally, there will be a lower and an upper limit on the amount of TFuel that can be staked to an Elite node. The lower limit is necessary to prevent sybil attacks, will be explained later. The upper limit is to ensure the most optimal level of decentralization. If users want to stake more TFuel than the upper limit, they can launch multiple edge nodes and split their TFuel across those nodes.

In addition to TFUEL staking, there will also be a TFUEL burning mechanism added as a cost for using the Theta edge network. This burning mechanism is being added as a balancing force against the additional supply that will come from the TFUEL inflation mechanism.

When Theta Mainnet 3.0 is launched there will be a minimum of 25% of each TFUEL payment to the network burned, effectively making it a cost for using the network. The Theta team believes that in the long-run, as Theta’s edge network becomes more widely adopted, this could meaningfully reduce the supply of TFuel.

These changes and more can be studied in greater detail in the Theta Mainnet 3.0 whitepaper.

ThetaSwap DEXWith the addition of Turing-complete smart contracts to the Theta network many potential new use cases have been added to Theta, and one of these has been realized with the launch of the ThetaSwap DEX, the first decentralized exchange on the Theta blockchain. It is based on the Automated Market Maker logic similar to that of UniSwap. It allows users to exchange their newly-created TNT20 tokens built on Theta blockchain in a trustless, non-custodial way. Just hours after the release of the DEX on February 4, 2021 there were already a number of Theta streamers and community leaders creating their own TNT20 tokens. It is expected that this activity will only increase as the community and ecosystem grows.

The creation of a decentralized exchange was seen as necessary for Theta, given the new tokens being created on the blockchain. The Theta DEX gives users an easy way to trade the new tokens, and gives markets an efficient way to price the tokens. Now that ThetaSwap has been created there is a way for TNT20 tokens to function completely.

ThetaSwap is the first fully decentralized exchange on the Theta blockchain. Image via Twitter.com

Streamers will now be able to issue loyalty tokens that will have real value to their fans, while pools or DAOs can fund media ventures more easily. There are many exciting new ways to monetize content on Theta now that ThetaSwap is active.

Version 1 of ThetaSwap allows trading of TFUEL and TNT20 tokens, but future versions will add functionality for THETA trading via a version of the THETA token in a TNT20 wrapper (similar to wETH or wBTC which you may have used in other DeFi protocols, you would use wTHETA in ThetaSwap).

Several stablecoins issuers have also expressed interest in bringing their assets to Theta blockchain in TNT20 form, making it even easier to trade on ThetaSwap. There are continued upgrades planned for ThetaSwap throughout 2021.

Theta Token Team & PartnersThe Theta Token team is led by CEO and co-founder Mitch Liu, who was also co-founder of the video streaming site SLIVER.tv as well as Gameview Studios and Tapjoy.

A second co-founder is Jieyi Long, who was also a co-founder at SLIVER.tv as well as holding a PhD in computer engineering from Northwestern University. SLIVER.tv is a video game streaming service similar to Twitch, and is one of the backbones in the Theta Token infrastructure.

Adding to the knowledge and growth of Theta is an experienced group of Media Advisors, which includes YouTube co-founder Steve Chen, and Twitch co-founder Justin Kan.

From Left: Mitch Liu (CEO), Jieyi Long (CTO), Ryan Nichols (Chief Product Officer), Riz Virk (Head of Corp Development)

The Theta Token team has forged several crucial partnerships, including one with Twitch that will allow viewers to earn Theta Fuel Tokens (TFUELHETA) by sharing their bandwidth to broadcast streams.

It also has partnerships with Steam, a video game provider, and with the decentralized cloud computing blockchain Aelf. One other key partnership is with the startup accelerator Play Labs. More recently it has formed partnerships with SamsungVR and with Littlstar, a media platform that gives Theta access to 100+ million Playstaion platforms.

The community behind any blockchain project is certainly an important factor to consider as it helps with both spreading the news about the platform, and ultimately with adoption.

The largest community following Theta is on Twitter, which you might expect as Twitter followings seem to be highest for blockchain projects. Theta Network has nearly 83,000 Twitter followers.

What is surprising is the number of Facebook followers the project has. Typically blockchain projects don’t see much activity from Facebook, but the Theta Network’s Facebook page has over 62,000 followers.

Telegram has become increasingly important for blockchain projects, and they often use Telegram as their first place to share news, and as a place to carry on discussions about changes within the platform and community. Theta has almost 11,000 Telegram members, which isn’t a bad showing on that platform.

Another surprise for the project comes from Reddit, which is usually a popular hangout for cryptocurrency enthusiasts, but in the case of Theta there are just 3,300 followers for the Theta subreddit. There are also over 5,000 followers on a defunct Theta subreddit that moved almost a year ago.

Token Price PerformanceRather than holding a public ICO, the Theta Token team held a private sale in which $12 million was raised. The pre-sale token price was $0.15 and by the following month the price had more than doubled to an all-time high of $0.314425 on January 27, 2018. Price wouldn’t return to that level until May 2020. And from May 2020 until February 2021 the price continued climbing, reaching a new all-time high of $2.56 on February 5, 2021.

THETA Price Performance. Image via CMC

Of course the initial all-time high was during the huge rally in blockchain markets in January 2018. And the new all-time high is occurring during another huge rally in cryptocurrencies that’s been lifting many of the most popular and successful projects to new all-time highs.

TFUEL Price HistoryTFUEL appeared on exchanges on March 28, 2019 at an opening price of $0.017001 and it closed nearly unchanged that day at $0.017193. Price fell over the next several weeks, but a spike higher in late May allowed TFUEL to print an all-time high of $0.025061 on May 25, 2019.

Price fell off that high and in March 2020 TFUEL printed its lowest price ever of $0.0008894. That low was followed by a rally that would culminate with TFUEL hitting its highest level ever at $0.04020 on December 27, 2020.

Buying & Storing THETA & TFUELThe two largest exchange services for THETA are being provided by Binance Exchange and BkEx. There’s also decent volumes being exchanged at Huobi Global, UpBit, and DigiFinex. There’s a handful of other exchanges selling THETA, but with smaller volumes.

Register at Binance and Buy THETA Tokens

The majority of trading volume in TFUEL is at Binance, although there is a decent amount being exchanged at Upbit. There are only a few other exchanges listing TFUEL and the volumes being exchanged are negligible.

The Theta native wallet was released just days before the mainnet was launched. On March 9, 2019 Theta announced the release of the native web wallet, which can be used for both THETA and TFUEL tokens. This who prefer more security in their cryptocurrency storage can opt for the Trezor or Ledger hardware wallets.

There are also several third-party wallets that support storage of THETA and TFUEL and these include the Trustwallet and the Atomic wallet. Theta Labs has also released mobile versions of the Theta wallet for both Android and iOS

Development & RoadmapThis all sounds well and good but how much development output have the team been pushing recently?

One of the best ways to get a sense of this is to look into a project's GitHub. By observing the total commits to their open source repositories, we can get a sense of the raw output.

So, I decided to dive into the Theta Token GitHub. Below are the total commits to the top two most active repos over the past 12 months.

Commits to Select Repos over past year

As you can see, the developers have still been busy working on the core protocol. This is a bit less than we would expect from a project in this stage of development but its still progress.

In fact, if we were to look at sites such as CoinCodeCap, it is clear that the Theta Labs code output falls quite far behind. There are a further 8 code repositories but none of these had any reasonable development in them recently.

In terms of the Roadmap,

they have done very well and have an impressive amount of work planned for 2021, some of which has already been completed and implemented.

The 2021 roadmap for Theta. Image via ThetaToken.org

If you wanted to keep up to date with the latest business developments, then you are best suited to follow their Twitter account as well as their official blog.

ConclusionSince the launch of the Theta live streaming platform back in 2016 the project has come a very long way. With THETA now live on the SLIVER.tv platform and the mainnet working well and nearly ready for version 3.0, the team has been working to expand the partnerships and reach of the Theta Network.

Video streaming has a huge and increasing demand in the 21st century, and the Theta Token team is looking to make their platform the go-to blockchain for video streaming. It remains to be seen if they can succeed, but they have a very talented and experienced team and a solid vision. Plus they have a very good start compared with some other similar projects.

There are more interesting things being planned now the network is launched, including shared mining rewards to distribute rewards among several users; anti-piracy measures to dis-incentivize piracy.

They are also planning for the inclusion of a general service platform that goes beyond streaming videos, but provides such services as smart streaming contracts. The team has also been looking into ways to integrate the Theta platform into smart TVs, which would theoretically give Theta hundreds of millions of new users.

Despite some recent downward pressure the THETA token is the 24th largest coin on Coinmarketcap.com, while TFUEL is the 116th largest. Both tokens are at or near their all-time highs, and with the launch of version 3.0 of the mainnet, which will add staking of TFUEL, it’s quite possible the rally in these tokens has only begun.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

The crypto market’s volatility in April resulted in Bitcoin and many altcoins witnessing considerable growth.

However, some altcoins missed this opportunity but are preparing to do so in May. BeInCrypto has prepared this analysis to put the spotlight on lesser-known coins that are poised for gains in the coming month.

Eyes on Theta Network (THETA)Theta Fuel (THETA) price has witnessed nothing but a drawdown throughout April and the second half of March. The altcoin fell from $3.4 to $1.9, marking a 42% correction. Consequently, the altcoin fell into a descending broadening pattern known to be bearish.

However, the Moving Average Convergence Divergence (MACD) indicator suggests differently. MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. It helps identify potential buy and sell signals based on crossovers and divergences between these moving averages.

Read More: What Is Theta Network (THETA)? A Complete Guide

The indicator has only observed bearishness for the past month, which flipped this week as the MACD witnessed a bullish crossover. This will likely initiate the uptrend on the daily chart, which could help THETA break out of the descending broadening pattern to flip $3 into support.

THETA/USDT 1-day chart. Source: TradingViewHowever, if the breach of the upper trend line fails, the altcoin could see a fall back to the lower trend line. As the pattern suggests, this would result in a potential downtrend, effectively invalidating the bullish outlook.

Ravencoin (RVN) Is at the Cusp of a BreakoutRavencoin (RVN) price is attempting recovery from the lows of $0.028 and is now aiming at flipping the 23.6% Fibonacci Retracement of $0.058 to $0.028 into support. Marked at $0.035, doing so would enable the altcoin to bounce off the price level and breach the 38.2% and 50% Fib lines. 

Read More: Ravencoin (RVN) Price Prediction 2024/2025/2030

Marked at $0.039 and $0.043, respectively, breaching them would sustain the rise and push RVN further upwards. The MACD is also at the cusp of noting a bullish crossover with green bars on the histogram. Once this crossover takes place, a potential bullish outcome could be confirmed.

RVN/USDT 1-day chart. Source: TradingViewHowever, if the 38.2% or 50% Fib levels remain unbreached, RVN could return to the 23.6% Fibonacci line, invalidating the bullish outcome. This might result in a decline to $0.028.

Akash Network (AKT) Is set to Flip Critical Resistance Into SupportAkash Network (AKT) price has been making headlines lately for its Upbit listing and the upcoming summit, which will be the first for the network. This has resulted in AKT posting an almost 74% growth in a single day before retracing the rally down to 25%.

The altcoin is now trading at $4.80, just under the 50% Fibonacci Retracement of $6.25 to $3.44. Closing above this line would enable AKT to breach the 61.8% Fib marked at $5.17. This level is also known as the bull run support floor, as rallies find strength upon branching this line.

AKT/USDT 1-day chart. Source: TradingViewThis could help AKT run up to $5.50 and beyond. However, if the breach fails or the 50% Fib level is not secured as a support floor, it could cause a decline to $4.10, effectively invalidating the bullish outcome.

PancakeSwap’s core development team, known as The Kitchen, has put forward a governance proposal to stop converting stablecoin pool fees into CAKE and instead retain them in their native stablecoin form for the protocol’s treasury. The change would apply across PancakeSwap’s entire product suite, including v2, v3, StableSwap, and Infinity.

Here’s the thing: stablecoin fees have historically accounted for roughly 29% of the treasury’s total annual revenue. That’s a meaningful chunk of income that was previously being routed through an unnecessary conversion step, swapped from stablecoins into CAKE, before landing in the treasury. The Kitchen’s argument is simple. Why add friction and conversion costs when you can just keep the stablecoins as stablecoins?

What the proposal actually changes The mechanics here are straightforward. Fees generated from stablecoin trading pairs across all of PancakeSwap’s pool types would stay denominated in their original stablecoin form. Non-stablecoin fees would continue following the existing path, getting converted into CAKE as they always have.

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The proposal explicitly preserves PancakeSwap’s existing buyback-and-burn mechanism for CAKE. Revenue from non-stablecoin products would still flow through the same conversion pipeline, maintaining the deflationary pressure that CAKE holders have come to rely on. Long-term tokenomics remain untouched.

Why treasury composition matters for a DEX Holding stablecoins directly gives PancakeSwap immediate purchasing power without market impact. When a treasury holds volatile governance tokens, deploying those funds means selling into the market, which can create downward price pressure on the very token the protocol is trying to support.

By keeping ~29% of its revenue in stablecoins, PancakeSwap positions itself to fund operations, partnerships, or emergency responses without touching CAKE’s market supply.

The broader trend in DeFi treasury management PancakeSwap remains one of the largest decentralized exchanges by trading volume, operating primarily on BNB Chain with expansions to multiple other networks. The Kitchen serves as the protocol’s primary maintainer and has historically driven major governance proposals through the community voting process.

The proposal was posted on February 19, 2026, and following a community vote, was implemented on March 2, 2026.

What this means for investors The preservation of the burn mechanism for non-stablecoin fees is the detail worth watching. As long as that pipeline remains intact, CAKE’s deflationary mechanics continue operating as designed.

The risk to monitor is scope creep. This proposal specifically targets stablecoin fees, but if future governance proposals extend the same logic to other fee categories, the calculus changes significantly. Investors should track whether subsequent proposals attempt to redirect additional revenue streams away from CAKE conversion, as that would represent a genuine shift in tokenomics rather than a treasury optimization.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

PANews reported on June 14 that Humanity released an independent investigation report by Quantstamp, which revealed that in the H token security incident, attackers used tools and methods characteristic of North Korean hackers. They communicated via phishing emails posing as the Bithumb exchange, tricking project directors into clicking malicious attachments, thereby deploying remote control Trojans on their devices and ultimately gaining complete desktop control and wallet private keys. Subsequently, they launched on-chain attacks on Ethereum and BNB Chain: on the Ethereum side, they upgraded the contract by stealing keys and transferred approximately 141.18 million H tokens; on the BSC side, they took over the ProxyAdmin contract and minted new tokens. The stolen assets were then continuously dumped on Uniswap and PancakeSwap for about 8 hours, causing a significant impact on liquidity and market prices.

Currently, the H token contract on the Ethereum side has been frozen. The mainnet bridge is unaffected, but the BSC deployment has been taken over by the attackers and they still have minting privileges. The team is working with exchanges and security parties to advance subsequent handling and recovery plans. At the same time, users are reminded to be wary of fake "compensation/claim" links, and the team stated that it will release further updates through official channels.

Previously, it was reported that Humanity Protocol was attacked, and the private key of a Humanity Foundation member was leaked, resulting in the theft of more than $31 million.