Price predictions 5/23: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK May 23, 2025, 2:07 pm
Key points:Bitcoin slipped below $109,588, but technical charts suggest traders are buying each dip. Excessive leverage in Bitcoin futures increases the risk of a quick correction. Select altcoins have turned down from their respective overhead resistance levels, signaling that the bears remain sellers on rallies. Sellers have pulled Bitcoin (BTC) back below the breakout level of $109,588, but lower levels are likely to attract buyers. Investor interest remains strong, with the US spot Bitcoin exchange-traded funds witnessing inflows of $934 million on May 22 and $608 million on May 21, according to SoSoValue data. Glassnode noted that the all-time high above $109,588 led to a total profit-taking volume of roughly $1 billion, far more muted than the $2 billion when the price rose above $100,000 in December. That shows the investors expect the up move to continue. Veteran trader Peter Brandt said in a post on X that Bitcoin was on target to hit between $125,000 and $150,000 by the end of August. Crypto market data daily view. Source: Coin360A strong rally attracts speculators who load up on leverage. CoinGlass data shows that Bitcoin futures open interest rose to just over $80 billion on May 23. Excessive leverage increases the risk of forced liquidation when prices witness a sharp pullback. Therefore, traders should exercise caution. What are the critical support levels for Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price predictionSellers are trying to sustain the price below the breakout level of $109,588, which may trap the aggressive bulls. That could pull the price to the 20-day exponential moving average ($103,652). BTC/USDT daily chart. Source: Cointelegraph/TradingViewA solid bounce off the 20-day EMA suggests that the sentiment remains positive and traders are buying on dips. The bulls will then again attempt to resume the uptrend by pushing the price above $111,980. If they can pull it off, the BTC/USDT pair could dash toward the target objec
Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined May 23, 2025, 2:00 pm
Risk appetite across traditional and cryptocurrency markets saw a sharp rise this week, helping United States cryptocurrency funds recover the capital lost to the correction of February and March, amassing over $7.5 billion worth of weekly inflows.Bitcoin (BTC) surpassed its old all-time high on May 21, two days after President Donald Trump confirmed ongoing ceasefire negotiations between Russia and Ukraine in a May 19 X post. Meanwhile, popular analyst and Global Macro Investor CEO Raoul Pal warned of more fiat currency debasement, urging investors to gain more exposure to cryptocurrencies and non-fungible tokens (NFTs), as these assets “will never be this cheap again.” Exponential currency debasement: “You don’t own enough crypto, NFTs”Cryptocurrencies and NFTs can help investors protect their eroding purchasing power during an era of exponential currency debasement, according to analysts and industry leaders. Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor. “You don’t own enough crypto. When you do, you don’t own enough NFT’s, as art is upstream of wealth. Both will never be this cheap again,” Pal said. NFTs are “the single best long term store of wealth I know and you get to buy it before network effects kick in,” he added in another response. Source: Raoul Pal“There is some validity to the statement that NFTs, and in extension art, become a vehicle for the wealthy once a certain level of wealth is reached,” wrote Nicolai Sondergaard, research analyst at Nansen, calling it a “natural move” for asset diversification. “For traders and investors, further down the wealth curve, NFTs are partially about speculating on future returns,” he told Cointelegraph, adding that NFTs also benefit from the allure of strong communities, beyond just wealth creation. Co
‘In ‘93, it became clear to me AI should be decentralized’ — Ben Goertzel May 23, 2025, 1:58 pm
It’s been 30 years since computer scientist Ben Goertzel wrote his first line of AI code, already convinced that artificial intelligence should be decentralized. Today, as the world approaches the dawn of Artificial General Intelligence (AGI), who leads this breakthrough could have profound consequences for the future of humanity.Speaking with Cointelegraph at the Consensus conference in Toronto, Canada, Goertzel said, “We’re likely to be able to launch AGI that can think and generalize beyond its training and programming within the next one to three years.” His project, SingularityNET, is a decentralized ecosystem building a global marketplace for AI services. Along the way, it has secured partnerships with Mind Network and Filecoin Foundation, invested $53 million in a modular supercomputer dedicated to decentralized AGI, and completed a token merger with Ocean Protocol and Fetch.ai to unify efforts in decentralized AI development. In 2024, Goertzel founded the Artificial Superintelligence Alliance, the world’s largest open-source initiative dedicated to decentralized AGI. SingularityNET and the ASI Alliance are “probably the only serious AGI R&D team outside of Big Tech, certainly the only one in the crypto space, and I don't mean any slight against others doing cool AI stuff in the crypto space,” Goertzel said. For Goertzel, these milestones represent a return to first principles. After decades spent developing AI and championing decentralization, the broader tech world is finally catching up, turning once-radical ideas into drivers of multi-trillion-dollar industries. Goertzel and Sam Bourgi at the Consensus conference in Toronto, Canada. Source: CointelegraphThe substance behind decentralization“In ’93, ’94, ’95, it became clear to me AI should be decentralized,” Goertzel said. He wrote his first decentralized AI code the following year using a beta version of Java, then founded his first AI company in New York in 1997.
Bitcoin’s bull market will ‘redefine’ BTC’s role in modern portfolios — Fidelity research May 23, 2025, 1:08 pm
Key takeaways:Bitcoin’s performance in the current bull market and a new cohort of buyers reflect a maturing market and widening adoption. A 50% rise in hashrate and a 63% jump in Realized Cap highlight investors’ confidence in Bitcoin. A recent report from Fidelity Digital Assets explored how the current Bitcoin market cycle reflects a shift toward a maturing market where the rate of adoption deepens and expands. At block height 892,500—marking 25% progress into the current halving epoch—Bitcoin traded between $82,500 and $85,000, representing a 31% increase from its value on April 19, 2024, when the fourth halving reduced block rewards to 3.125 BTC. Bitcoin: halving cycles compared. Source: Fidelity Digital AssetsFidelity’s senior research analyst Daniel Gray emphasized Bitcoin’s network resilience, noting a 50% surge in hashrate since the halving. This increase signals strong miner commitment despite reduced rewards. Unlike previous cycles marked by post-halving rallies, the 2024–2025 phase has been characterized by steadier, more measured growth. The Puell Multiple—an indicator of miner revenue relative to Bitcoin’s price—has stabilized, suggesting that the market is adjusting to lower issuance without significant volatility. The report explains, “Bitcoin’s more muted returns likely reflect a market that is digesting several extrinsic tailwinds and headwinds, which have inevitably caused some uncertainty.”Historically, this mid-epoch phase has coincided with new all-time highs—an event that occurred this week. Fidelity noted that this growth could extend into Q2 2025, potentially redefining Bitcoin’s position as a credible asset class in modern portfolios. Bitcoin's Realized Cap is a significant indicator of this evolution, which measures cumulative net capital inflows. Since the 2024 halving, the Realized Cap metric has surged 63%, climbing to $915 billion from $561 billion, underscoring the scale of capital entering
Alchemy acquires no-code NFT launchpad HeyMint for undisclosed amount May 23, 2025, 11:52 am
Web3 developer platform Alchemy has acquired HeyMint, a California-based non-fungible token (NFT) launchpad, in a move designed to enhance the company’s smart wallet infrastructure. The undisclosed funding deal will see HeyMint’s infrastructure embedded within Alchemy as it seeks to simplify user onboarding for Web3 applications, the company disclosed on May 23. HeyMint’s co-founder and chief technology officer, Flor Ronsmans De Vry, joins Alchemy as part of the deal. While not a household name in crypto, HeyMint attracted more than 1 million users over its first two years of operations. It was the launchpad behind $38 million in NFT sales and supported the Web3 efforts of major brands, including The Sandbox, Universal Music Group and Ubisoft. In 2023, HeyMint facilitated NFT sales for the Partnership for Central America, a private sector coalition that included Mastercard. The HeyMint acquisition is Alchemy’s second funding deal this month. The company recently acquired Dexter Lab, a real-time data infrastructure provider for Solana, for an undisclosed amount. Source: CointelegraphRelated: VC Roundup: 8-figure funding deals suggest crypto bull market far from over Crypto mergers, acquisitions are heating up2025 is shaping up to be a more active year for crypto mergers and acquisitions (M&As), especially in the United States, where regulatory clarity and a pro-industry administration are encouraging dealmaking. There has been a flurry of high-profile deals in recent weeks, including Robinhood’s acquisition of Canadian digital asset operator WonderFi for $179 million and Coinbase’s $2.9 billion acquisition of Deribit. Coinbase CEO Brian Armstrong said his crypto exchange is eyeing more M&A opportunities. One of the biggest acquisitions was completed in April when Ripple purchased prime brokerage Hidden Road for $1.25 billion — a deal the payments company said would expand its horizons within institutional finance. Beyond M&As, crypt
Bitcoin price drops 4% as Trump EU tariff talk liquidates over $300M May 23, 2025, 11:29 am
Key points:Bitcoin joins risk assets in a knee-jerk reaction to the latest instalment of the US trade war, this time focused on the EU. BTC price action dives up to 4% before recovering with $110,000 now a resistance level. Traders demand that price holds higher levels going forward to protect bullish momentum. Bitcoin (BTC) saw flash volatility into the May 23 Wall Street open as news headlines liquidated longs. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin trips as Trump says EU talks “going nowhere”Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $107,367 on Bitstamp before rebounding. This marked daily losses of up to 4% as markets reacted to comments from US President Donald Trump over tariffs on the European Union. “Our discussions with them are going nowhere!” Trump wrote in a post on Truth Social. “Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”Source: Truth SocialUS stocks reacted immediately at the open, with the S&P 500 and Nasdaq Composite Index down 1% and 1.2%, respectively, at the time of writing. Reflecting on the latest developments, crypto market participants were unsurprised, given the existing precedent for tariff-related volatility. “Nice aggregate flush of long leverage & de-risk selling from spot,” popular trader Skew summarized in a post on X. “All driven by headlines once again.”Binance Bitcoin futures market data overview. Source: Skew/XData from monitoring resource CoinGlass put 4-hour liquidations at nearly $350 million, with the 24-hour tally at over $500 million. Total crypto liquidations (screenshot). Source: CoinGlass“There's the break from the compression with a push from Trump. Markets worldwide obviously not liking the news,” fellow trader Daan Crypto Trades continued. “Will have to see where this settles today and how BTC ends up performing relative to equities now the trade unc
Spoiler alert: The future of Web3 is not blockchain May 23, 2025, 11:00 am
Opinion by: Grigore Roșu, founder and chief executive officer of Pi SquaredFor some, the audacity of questioning the primacy of blockchain in Web3 is borderline heretical. The idea that decentralization and progress could exist without blockchains seems absurd to those who built careers around Bitcoin, Ethereum, and their descendants. Given blockchain's well-documented scaling limits, however, there is an argument to be made that Web3 doesn't actually need blockchains to thrive. Instead, it requires payment systems and verifiable settlement systems that are super fast. Blockchains are just one way to achieve that, not the only way. While blockchain solved the double-spending problem, it introduced its own architectural burden: the rigid fixation on total ordering, dictating that every transaction must wait its turn in a global queue, processed through a monolithic consensus mechanism. Initially, this made sense in the context of payments, where security and simplicity were paramount. Still, in the context of Web3, where complex applications require speed, flexibility, and scale, this same mechanism has become a constraint. It imposes a kind of serialized tyranny, throttling throughput and locking developers into a narrow lane of design options. The undeniable influence of FastPayMobile remittance app FastPay proved that double-spending can be avoided differently without a total order. This inspired systems like Linera, which use independent local orderings while maintaining global verifiability, proving that a different, more scalable future is possible and already underway. FastPay also inspired the likes of POD and Sui's single-owner objects protocol. If FastPay had been invented before Bitcoin, blockchain might never have captured the cultural or technical imagination in the way that it did. Recent: Beijing to invest in blockchain, integrate into infrastructure Some will no doubt argue that total ordering is essential for financial integrity or that without blockchains, decentralization itself unrav
Who attended Trump’s controversial memecoin dinner? May 23, 2025, 10:52 am
The top 220 holders of US President Donald Trump’s memecoin met yesterday at the president’s golf course in Virginia for an exclusive dinner and purported meet-and-greet.Attendees spent a grand total of $148 million for an “ultra-exclusive VIP reception with the president,” which crypto industry advocates and critics alike saw as a potential opportunity to discuss crypto policy with the president. The crowd contained a number of foreign crypto executives and influencers who otherwise would not have access to the US president, raising questions around corruption and foreign influence. Concerns were further augmented when White House Press Secretary Karoline Leavitt declined to release a list of attendees, stating that the event was a private affair outside of Trump’s presidential duties. However, some attendees spoke to the press or took to social media to talk about the dinner. Here are just a few: Justin SunTron founder Justin Sun was the largest TRUMP tokenholder at the gala, which was reportedly enough to earn him a special watch, presented in a special ceremony. Sun was awarded a watch in a ceremony at the event. Source: Justin SunSun’s presence at the event was particularly controversial. Last year, he faced a lawsuit brought by the US Securities and Exchange Commission over the alleged “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.” The SEC asked for a reprieve in late February, just over a month since Trump’s inauguration and the subsequent 180 in federal agencies’ approach toward regulating crypto. Outside the crypto dinner, Sun posted on May 21 that he would be spending a week in Washington, DC to have “meaningful conversations that will help shape the next chapter of blockchain’s future” in the United States. Kain WarwickKain Warwick, founder of crypto exchange operator iFinex, told The New York Times on May 12 that he was atte
Ethereum price chart targets $4K as transaction fees hit 3-month high May 23, 2025, 10:49 am
Key takeaways:Ethereum is forming a bull flag on the daily chart, with a potential breakout to $4,000. If Ethereum’s network activity and total value locked continue to grow, ETH price may see further gains. Ether’s price printed a “bull flag” on the daily chart, a technical chart formation associated with strong upward momentum. Could a strengthening technical setup and increasing transaction fees signal the continuation of ETH’s rally toward $4,000? Ethereum transaction fees rising is bullishMarketwide recovery, fueled by Bitcoin’s rise to new all-time highs and improving macroeconomic conditions, saw Ether’s (ETH) price rise by nearly 56% to an eight-week high of $2,734 on May 23, from a low of $1,750 on May 6. This strength in price is reflected in onchain activity, with Ethereum’s daily transaction count rising by 37% over the last 30 days. These levels were last seen in January 2024, when the hype around the approval of US-based spot Bitcoin ETFs pushed ETH price above $4,000 for the first time since December 2021. Ethereum daily transaction count. Source: CryptoQuantEthereum's daily average transaction fees also skyrocketed, reaching a 90-day high of 0.0005 ETH ($1.33) on May 22. Ethereum: Fee per transaction. Source: Source: CryptoQuantHigh transaction count and fees suggest that more users are interacting with the network, whether for DeFi, NFTs, or other DApps. It suggests high network activity, often correlating with increased interest and market confidence. Related: Ethereum holders back in profit as ETH price enters 'crucial area' for $3K breakout Historically, Ether’s price has surged during high-usage periods. For example, during the 2021 DeFi boom, fees spiked to as high as 0.015 ETH due to high demand. As such, high utilization periods with high fees indicate growth in network activity or bullish sentiment, as more ETH is needed for gas, pushing its price upward. Increasing TVL supports ETH price bullsThe increase in Et
US DOJ seizes $24M in crypto from accused Qakbot malware developer May 23, 2025, 10:29 am
The US Department of Justice (DOJ) has filed a civil forfeiture complaint to seize more than $24 million in cryptocurrency from Rustam Rafailevich Gallyamov, a Russian national accused of developing the Qakbot malware.According to a May 22 announcement, the DOJ unsealed charges against the 48-year-old Moscovite with a federal indictment. Gallyamov is allegedly the malware developer behind the Qakbot botnet. “Today’s announcement of the Justice Department’s latest actions to counter the Qakbot malware scheme sends a clear message to the cybercrime community,” said Matthew Galeotti, head of the DOJ’s criminal division. Screenshot of the indictment. Source: US Department of JusticeGaleotti highlighted that the DOJ is “determined to hold cybercriminals accountable.” He added that the department will “use every legal tool” to “identify you, charge you, forfeit your ill-gotten gains, and disrupt your criminal activity.” Related: Microsoft takes legal action against infostealer Lumma Over $24 million forfeitedUS Attorney Bill Essayli for the Central District of California explained that “the criminal charges and forfeiture case announced today are part of an ongoing effort” to “identify, disrupt, and hold accountable cybercriminals.” He added: “The forfeiture action against more than $24 million in virtual assets also demonstrates the Justice Department’s commitment to seizing ill-gotten assets from criminals in order to ultimately compensate victims.”Assistant Director in Charge Akil Davis of the FBI’s Los Angeles Field Office said that Qakbot was crippled by the agency and its partners in 2023. Still, Gallyamov allegedly continued deploying alternative methods to offer his malware to potential partners. Related: Chinese printer maker spread Bitcoin stealing malware — Report Qakbot used in global ransomware attacksGallyamov allegedly operated the Qakbot malware as far back as 2008. In