txd102023

Pyth Network suddenly went down, sending the entire DeFi market into a cold sweat 😳 On May 22, the Pythnet validator nodes responsible for providing price oracle data stopped producing blocks, causing a complete interruption of Pyth's real-time price data. The problem is: Currently, many DeFi protocols rely heavily on Pyth price feeds. Once the price data fails, lending, liquidations, and contract trading could instantly run into issues ⚠️ This also exposes one of DeFi's biggest vulnerabilities again: Many protocols appear "decentralized," but their underlying infrastructure heavily depends on a few critical components. Since 2026, losses caused by DeFi hacks and system failures have already exceeded $840 million. The market is increasingly realizing: The real danger is not just price drops, but the day when the underlying infrastructure suddenly "goes dark" 💀

Bitcoin open interest on Binance has surged to $8.9 billion 📈 It has grown a full 40% over the past 82 days, indicating more and more traders are re-leveraging into BTC. However, the market is actually quite risky right now 👀 Although many believe the $75K–$77K range has formed a phase bottom, spot market buying remains very weak: • Continuous outflows from BTC ETFs • Noticeable decline in spot trading volume • Rising US Treasury yields suppressing risk assets Meanwhile, the futures market is aggressively piling on leverage. This means: If BTC breaks below $76.5K, it could trigger a new round of cascading long liquidations 💥 But if it strongly breaks above $78.5K, the shorts above could be instantly squeezed. The entire market now increasingly resembles a high-leverage powder keg where "whoever blows up first" sets off the chain reaction 😳

Michael Saylor stated that $60,000 has now become the "bottom area" for Bitcoin 👀 He believes BTC will continue to rise from here and achieve about a 30% annualized return in the long term, far exceeding the average returns of traditional stock markets. Saylor also reiterated his long-term super bullish view on Bitcoin: • BTC will continue to attract institutional funds in the future • Fixed supply will continuously drive up value • The US regulatory environment is gradually becoming more friendly Although BTC is still down about 12% year-to-date and spot ETFs have seen consecutive outflows, Saylor still believes the market is only in the "spring phase" of the early bull market 🌱 He even predicts that by 2045, Bitcoin could reach $13 million 😳

Bitcoin has been rising continuously for a full 90 days 👀 Analyst Matthew Hyland states that in BTC's history, there has never been a bear market rally that lasted this long; this looks more like the start of a new bull market rather than a typical rebound. BTC has not only reclaimed the key resistance level at $77K but also surged up to $83K at one point, with long-term holders continuing to accumulate. However, market pressures still exist: • Over $2 billion has flowed out of US spot BTC ETFs since May 12 • Coinbase Premium remains negative • Fed rate hike expectations and macro pressures continue to suppress risk markets The key level the market is currently watching is $88K. If BTC can break through this strongly, many will consider the new bull market officially underway 🚀 But if it fails to break through for a while, BTC may first retest support around $70K.

XRP ETF fund flows continue to grow, with a cumulative net inflow reaching $1.39 billion 👀 Meanwhile, BTC and ETH have recently shown a clear slowdown in momentum, sparking market discussions about whether funds are gradually rotating into large altcoins. Currently, $XRP is holding steady around $1.37. Although it remains over 60% below the 2025 peak, institutional capital continues to flow into related ETF products. Data shows: • Since the launch of the XRP ETF in November 2025, it has attracted approximately $1.39 billion in capital • The highest single-day net inflow reached $25.8 million • Fund flow performance even surpasses some mainstream alt assets At the same time, on-chain activity on the XRP Ledger is also steadily increasing: RWA (Real World Asset tokenization) scale has exceeded $3 billion, with daily trading volume about 3 times higher compared to mid-2025. However, the market’s biggest contradiction remains: Fundamentals and institutional capital are strengthening, but the price still struggles to effectively break through the $1.50 resistance level. As a result, more investors are focusing on whether XRP can ultimately convert its “ecosystem growth” into real price performance. 🚀

XRP ETF fund flows continue to grow, with a cumulative net inflow reaching $1.39 billion 👀 Meanwhile, BTC and ETH have recently shown a clear slowdown in momentum, sparking market discussions about whether funds are gradually rotating into large altcoins. Currently, $XRP is holding steady around $1.37. Although it remains over 60% below the 2025 peak, institutional capital continues to flow into related ETF products. Data shows: • Since the launch of the XRP ETF in November 2025, it has attracted approximately $1.39 billion in capital • The highest single-day net inflow reached $25.8 million • Fund flow performance even surpasses some mainstream alt assets At the same time, on-chain activity on the XRP Ledger is also steadily increasing: RWA (Real World Asset tokenization) scale has exceeded $3 billion, with daily trading volume about 3 times higher compared to mid-2025. However, the market’s biggest contradiction remains: Fundamentals and institutional capital are strengthening, but the price still struggles to effectively break through the $1.50 resistance level. As a result, more investors are focusing on whether XRP can ultimately convert its “ecosystem growth” into real price performance. 🚀

On-chain detective ZachXBT warns that the decentralized prediction market Polymarket is suspected of being attacked, involving an amount of about $520,000 👀 According to on-chain tracking by ZachXBT, Lookonchain, and Bubblemaps, the attacked contract is the UMA CTF Adapter used by Polymarket. The hacker's address is continuously transferring funds and splitting them into multiple wallets, with behavior patterns highly similar to typical on-chain money laundering operations. Data shows the attacker transfers about 5,000 POL tokens from the contract approximately every 30 seconds. The estimated loss currently ranges between $520,000 and $660,000. However, Polymarket's official response stated: "User funds are safe," and did not acknowledge that the platform itself was compromised. The biggest question in the market now is: Whether the vulnerability lies in the peripheral adapter contract or if the platform's core liquidity pool remains unaffected. This incident also reflects that security issues in the DeFi sector remain severe. In May alone, the crypto industry has experienced 19 separate attack incidents, with total losses exceeding $38 million.

The Verus cross-chain bridge hacker ultimately returned about 4,052 ETH (approximately $8.5 million) and accepted the project's "25% white hat bounty agreement" 👀 Previously, the attacker exploited a vulnerability in the Verus-Ethereum Bridge to steal about $11.5 million in assets and converted the funds into 5,402 ETH. Subsequently, the Verus team publicly set the condition: If the hacker returned 75% of the funds within 24 hours, they would be allowed to keep 1,350 ETH (about $2.8 million) as a bounty. In the end, the party chose to accept the agreement. This also illustrates once again that many DeFi projects nowadays, after being attacked, are increasingly inclined to recover funds through "negotiated retrieval" to reduce user losses, rather than relying entirely on lengthy legal pursuit processes. However, this approach has sparked considerable controversy: Some believe it can quickly recover losses, while others think it effectively encourages hackers to attack because "there is a chance to legally keep part of the profits after success." 😅

XRP network activity suddenly surges 👀 On May 21, the XRP Ledger added approximately 4,300 new wallet addresses within 24 hours, marking the fourth highest single-day growth record since 2026. On-chain analytics platform Santiment stated that "network growth" is often regarded as one of the key leading indicators of a potential market reversal, as it represents new funds and new users entering the ecosystem, rather than just asset transfers among existing users. Although this growth scale does not match the peak in November 2025 when 21,000 wallets were added in 48 hours, it is still a significant increase in activity given the overall relatively stable context this year. Currently, the $XRP price remains hovering around $1.36, with its performance over the past 90 days still lagging behind BTC and ETH, so the market is watching whether this wave of new users can truly convert into sustained buying pressure. Meanwhile, the scale of RWA (Real World Asset tokenization) on the XRP Ledger has surpassed $3 billion. Coupled with the potential advancement of the US CLARITY Act, some investors are beginning to refocus on XRP’s mid-to-long-term narrative.

Zcash ($ZEC) fell 2.44% in the past 24 hours, trading at $652.10, slightly underperforming the overall crypto market. This pullback is mainly due to profit-taking pressure releasing after the previous surge. On May 20, $ZEC once soared to $686, with a single-day gain of over 17%. The rise was primarily driven by two major factors: • The U.S. SEC officially ended its investigation into the Zcash Foundation, significantly easing regulatory pressure; • A large number of shorts were forcibly liquidated, triggering a short-term squeeze rally. The current decline looks more like a typical "selling pressure cooldown + technical consolidation" phase. In the short term: • If the $580 support level holds, $ZEC still has a chance to challenge the resistance near $686 again; • If it breaks below $580, the market may further pull back to the $500 area to find new support. 👀