The crypto market changed its tone midway through the week from bullish to bearish, creating concern for the investors. Since the weekend is known for being a high volatility period, some altcoins could be moving in an unprecedented manner.
Thus, BeInCrypto has highlighted three such tokens that the investors should watch for the better and for the worse.
Conflux (CFX)
CFX has been one of the top-performing altcoins this week, posting an impressive 85% rally. Trading at $0.188, the altcoin is set for potential recovery, with further upward movement expected. This price action reflects renewed investor interest and signals a continued uptrend, supported by the broader market’s positive sentiment.
The formation of a Golden Cross between the 50-day and 200-day EMAs further supports the bullish outlook for CFX. As the 50-day EMA crosses over the 200-day EMA, it indicates momentum building for a potential price surge. This could push CFX past the current resistance of $0.194, targeting $0.240.
However, if investor sentiment shifts and selling pressure increases, CFX could face a significant decline. A sell-off could result in a drop to $0.146, erasing much of the recent gains. This downside risk highlights the importance of maintaining investor confidence to sustain the bullish momentum for CFX.
Pudgy Penguins (PENGU)
PENGU fell 12% in the last 24 hours, trading at $0.037. The altcoin slipped below the support level of $0.040 after a failed attempt to breach its all-time high (ATH) of $0.046. This downturn reflects waning momentum and investor uncertainty.
Despite the recent setback, there remains hope for a new ATH among investors. The Parabolic SAR indicator below the candlesticks suggests an active uptrend, signaling that PENGU could continue to rise. If the market conditions stabilize, the altcoin could regain its bullish momentum, potentially surpassing the previous highs.
However, if the market turns bearish, PENGU could face further losses. A drop to the support level of $0.029 is possible, invalidating the bullish outlook.
Pump.fun (PUMP)
PUMP has noted a sharp 25% drop during the intra-day lows over the last 24 hours, trading at $0.00258. The altcoin, continues to lose traction in the market which is signaling further decline.
The next major support for the token sits at $0.00212, and if the selling persists, this level might be tested this weekend. This, in turn, could trigger further selling from PUMP holders, making it vulnerable to further correction.
However, since PUMP managed to recover from today’s slump, it could secure the support at $0.00249. A successful rebound at this level could pave the way for a push past $0.00292, sending the altcoin towards $0.00380.
Tether announced the upcoming launch of QVAC (QuantumVerse Automatic Computer), a decentralized development platform for locally operating AI agents.
Paolo Ardoino, Tether’s CEO, claimed that the company is aiming for a full launch in Q3 2025. Before this happens, it will also release a few QVAC-based AI apps for general use.
Earlier this month, crypto AI agents staged a massive comeback, and the firm is now revealing its project. Tether’s QVAC is intended to keep the AI space decentralized, empowering individuals to use sophisticated protocols:
A little over a week ago, Tether teased its upcoming peer-to-peer AI platform, which now seems like a reference to QVAC. Ardoino claimed that the company aims for a Q3 2025 release, which may take longer.
Because Tether won’t be fully releasing QVAC for several months at the earliest, there aren’t many details available. However, the company’s statements describe some very ambitious goals.
QVAC will center around AI agents, specifically on developing them for local use. It will use modular architecture to create functional tools that run on personal devices.
Tether was very clear that QVAC’s agents won’t require users to remotely connect with external servers. Even where it employs collaboration, QVAC will focus on peer-to-peer contact with other small-scale developers.
The firm will also launch the first QVAC-based apps “soon,” but it has provided no further details.
This Chinese AI model boasts dramatically lower hardware requirements than its competitors, enabling users to host it locally. DeepSeek can do this for an entire LLM, so Tether hopes to employ QVAC for more niche AI agents.
Hopefully, Tether will continue releasing technical details about QVAC during Q2 before a full launch in Q3. If the company can meet this imposing challenge, it would significantly contribute to global AI development.
Tron founder Justin Sun has renewed his accusations against First Digital Trust (FDT), claiming the firm moved $500 million in customer funds to banks in Dubai.
In a May 3 post on X, Sun claimed the money was spread across multiple institutions, including Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank (ADIB), and EFG.
Tron Founder Urges Dubai to Investigate FDT
Sun also named several individuals he believes were involved in authorizing or facilitating the transfers. These include Christian Alexander Boehnke, De Lorraine Elbouef, FDT CEO Vincent Chok, Yai Sukonthabhund, Matthew William Brittain, and Cecilia Teresa Brittain.
According to him, these individuals held executive roles at FDT and related entities, which allegedly gave them the authority and access needed to misappropriate customer assets.
Alleged Flow of First Digital Trust’s Misappropriated Fund. Source: Justin Sun
Against this backdrop, Sun urged local banks, regulators, and government bodies to take immediate steps to investigate the transfers and freeze any suspicious inflows.
He also pushed for internal audits, public disclosures of any anomalies, and active cooperation from the institutions involved.
“I once again urge the Dubai government, regulators, and banks to act swiftly and decisively. Dubai must not become a safe haven for fraud and money laundering. Banks must conduct internal reviews, freeze suspicious inflows immediately, and report them proactively. Do not become enablers of criminal activity,” Sun stated.
These accusations add to a growing dispute between Sun and the Hong Kong-based custodian.
Sun has launched a $50 million bounty program to support investigations, uncover further details, and hold those responsible accountable. He has also launched a dedicated website to expose the alleged scam.
FDT has denied all accusations and filed a defamation lawsuit against Sun. Meanwhile, Hong Kong regulators have started reviewing local trust companies’ conduct in light of the allegations.
First Digital Trust’s FDUSD Stablecoin Market Cap. Source: BeInCrypto
Since the dispute began, the market capitalization of FDT’s FDUSD stablecoin has plunged. According to BeInCrypto data, the stablecoin’s market cap had dropped from over $2.5 billion to around $1.4 billion as of press time.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.]
Grab a coffee as we delve into market sentiment about XRP ETFs (exchange-traded funds) in the US. As prospects for this financial instrument continue to grow, experts have weighed in on the possible impact on Ripple’s XRP token.
Crypto News of the Day: XRP ETF Inflows to Reach $8.3 Billion, Standard Chartered Predicts
There has been much chatter this week in crypto about XRP ETFs, ranging from false rumors and reports to delays in key decisions. However, one thing appears certain: the conversation is growing more than ever.
In a recent US Crypto News publication, ETF analyst Eric Balchunas indicated they have raised their odds to 85%. Based on this, analysts offer diverging outlooks on how such a product might perform.
“XRP price could rise to $12.23 or $22.20 after ETF Approval if XRP ETFs Get 15% to 30% of Bitcoin ETF Inflows,” a popular account on X shared.
BeInCrypto data shows that XRP was trading for $2.22 as of this writing, down by almost 1% in the last 24 hours.
Against this backdrop, BeInCrypto contacted Standard Chartered for a commentary. The bank’s head of digital assets research, Geoff Kendrick, said it was challenging to predict precise inflow figures.
However, he indicated that comparative data from Europe could provide some guidance.
“The amount of eventual inflows to XRP ETFs is difficult to estimate. However, Bitwise has listed ETPs in Germany for XRP, Solana, Litecoin, BTC, and ETH, which may provide an apples-for-apples comparison,” Kendrick told BeInCrypto.
Drawing on his prediction of how an XRP ETF could perform and the associated impact on XRP price, Kendrick compared Bitcoin, Ethereum, and other altcoins.
Citing Bitwise data, the Standard Chartered executive noted that altcoins garner a larger percentage of ETP (exchange-traded product) net asset value (NAV) as a percentage of coin market capitalization than Bitcoin and Ethereum.
However, he acknowledged that this could be because fewer ETPs are available for altcoins. Kendrick added that NAV-to-market-cap ratios from already approved US spot ETFs provide a useful benchmark.
Based on these assessments, Geoff Kendrick projected that a US-listed spot XRP ETF could attract as much as $8.3 billion in inflows within its first year.
“Of the US spot ETFs approved so far, NAV as a percentage of market cap is 3% for Ethereum and just under 6% for Bitcoin. At current XRP market cap, that would imply a range of $4.4 billion to $8.3 billion as a future total NAV measure for an XRP ETF, which seems like a reasonable target range for inflows in the first 12 months,” Kendrick added.
Kendrick Sees Ripple Price at $8, Bitfinex Analysts Question Investor Interest for XRP ETFs
The Standard Chartered executive said he expects XRP price gains to keep pace with Bitcoin price growth targets.
He forecasted the Ripple price to rise to $8 by 2026, contingent on spot XRP ETF approvals in the US. This would constitute a 260% surge above the current price of $2.22.
“In real terms, XRP inflation is currently 6%, versus 0.8% for Bitcoin. As such, we target the XRP-USD price levels of $5.50 at end-2025, $8.00 at end-2026, $10.40 at end-2027, $12.50 at end-2028 and $12.25 at end-2029,” Kendrick explained.
Meanwhile, analysts at Bitfinex caution against optimism, saying that investor interest in a US-based spot XRP ETF may not match that witnessed in Bitcoin ETFs.
“We expect limited inflows into an XRP ETF as some investors may choose to broaden their exposure across available crypto ETFs. However it is unlikely to see the level of flows experienced by Bitcoin,” Bitfinex analysts told BeInCrypto.
The contrasting assessments reflect broader uncertainty over how altcoin ETFs might perform in a regulated US market.
Bitcoin’s dominance and changing regulatory attitudes toward digital assets still heavily influence the crypto market in the US.
So far, Grayscale, Wisdom Tree, Bitwise, Canary, and 21Shares have filed for XRP ETF approvals with the SEC. Bitwise’s application received official acknowledgment on February 18, triggering several timelines for approving, denying, or extending the application.
The final deadline is October 12, 240 days after official receipt. This date is equivalent to the ‘final deadline’ of January 10, 2024, for BTC ETF approvals, the day they were approved.
However, with other applications beyond XRP ETF pending approval, including Solana and Litecoin, Kendrick noted that other applications in the pipeline could affect the timeline for XRP ETF approval.
“Litecoin seems most likely to progress the fastest, providing early insight into how the new SEC leadership will treat altcoin ETFs,” Kendrick said.
As a hard fork of Bitcoin, Litecoin could already be viewed by the SEC as a commodity rather than a security. According to Kendrick, its similarity to Bitcoin may make it conceptually easier for investors to understand.
“We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the BTC + ETH combo ETFs, then probably Litecoin (because it is a fork of BTC, [therefore it’s a] commodity), then HBAR (because it’s not labeled security), and then XRP/Solana (which have been labeled securities in pending lawsuits),” Balchunas stated.
(@paoloardoino) 
