US-based Coinbase has reportedly agreed to purchase the largest crypto options firm in the world, Deribit. The deal, valued at $2.9 billion, will see Coinbase expand its reach toward crypto derivatives, but parties will have to sidestep a few regulatory hurdles.
Coinbase Moves To Acquire Deribit For $2.9 Billion
After months of horse-trading, Coinbase has inked a deal to acquire crypto options platform Deribit for $2.9 billion. According to a report by the Wall Street Journal (WSJ), the deal will see Coinbase expand the scope of its offerings to include spot, futures, and options.
Joining forces with Deribit will send Coinbase to the top of the rankings for crypto derivatives by options volume and open interest. Deribit holds $30 billion in open interest and trading volumes surpassing $1 billion, with pundits describing the deal as a “steal” for the US-based exchange.
“This is a global step in our global expansion strategy,” said Coinbase in a statement. “With Deribit’s strong international presence and Coinbase’s regulated US and international operations, we’re set to offer unparalleled access to crypto derivatives around the world.”
Meme Coins To Watch Today include Test Token (TST), Vine (VINE), and Broccoli 714 (BROCCOLI), each showing high volatility and intense trading activity.
TST surged in volume by nearly 65%, gaining traction despite its origins as a tutorial token. VINE is under pressure, with a volume/market cap ratio over 125%, signaling heavy speculation. Meanwhile, BROCCOLI is down 10% amid rumors of its discontinuation, though the lack of an official statement has left traders uncertain and on edge.
Test Token (TST)
Launch Date – February 2025
Total Circulating Supply – 900 Million TST
Maximum Supply – 1 Billion TST
Fully Diluted Valuation (FDV) – $64.5 million
TST, originally launched on BNB Chain as a demonstration token for a meme coin tutorial using the four.meme platform, has unexpectedly gained real trading momentum.
In the past 24 hours, its volume surged nearly 65%, hitting $50.75 million.
Despite a broader dip in BNB Chain’s weekly DEX activity (down 21.14%), the network still ranks as the third-largest chain by DEX volume over the past seven days, trailing only Solana and Ethereum with $6.2 billion.
On the technical side, TST recently attempted to break past the $0.070 resistance level but failed to hold above it.
A successful retest could clear the way for a push toward $0.072 and potentially $0.0865.
However, support at $0.0648 remains crucial—if that breaks, TST risks falling back to $0.060.
Vine (VINE)
Launch Date – January 2025
Total Circulating Supply – 1 Billion VINE
Maximum Supply – 1 Billion VINE
Fully Diluted Valuation (FDV) – $35.25 Million VINE
VINE has dropped nearly 7% in the last 24 hours, with trading volume hitting $44 million—surpassing its market cap of $34.7 million and pushing the volume/market cap ratio to a staggering 125.72%.
This high ratio suggests intense speculative activity and rapid token turnover, but also signals potential volatility ahead.
With such imbalance, price swings in either direction could be sharp and sudden depending on sentiment shifts and liquidity.
If this bearish signal plays out, the token could fall to key support at $0.0324, and a breakdown from there may drag it further to $0.0287 or even $0.0262.
However, if buyers step in and reverse the current downtrend, VINE may test resistance at $0.0389. A strong breakout above that level could open the path to $0.0424 and potentially $0.0482.
Broccoli 714 (BROCCOLI)
Launch Date – February 2025
Total Circulating Supply – 1 Billion BROCCOLI
Maximum Supply – 1 Billion BROCCOLI
Fully Diluted Valuation (FDV) – $27.47 Million
BROCCOLI, one of the most talked-about meme coins on BNB Chain in recent months, has been down 10% in the last 24 hours due to controversy surrounding its development.
A post from an account claiming to be the project’s CTO stated that BROCCOLI 714 would be discontinued due to various challenges.
However, many in the community believe the post may result from a hack, especially since no official announcement has come from the BROCCOLI team. This uncertainty has fueled panic and accelerated the sell-off.
From a technical perspective, if bearish momentum continues, BROCCOLI may test support at $0.025—and if that level breaks, further downside to $0.022 becomes likely.
Conversely, a reversal fueled by clarification or a positive update could drive a recovery toward the $0.0292 resistance.
A breakout above that may pave the way for gains to $0.032 and potentially $0.034.
Investors appear to be growing cautious about the Bitcoin rally, with the BTC inflow slowing down. The recent outflow in the US Spot Bitcoin ETF indicates a waning institutional interest, with many seeing it as a potential threat to the ongoing rally.
Will Bitcoin Rally Continue Amid Slowing BTC Inflow?
The US Bitcoin ETF inflow has slowed from its robust performance over the last eight days, Farside Investors data showed. From April 17-29, the BTC inflow totaled $3.93 billion, which has helped in a strong rally for the flagship crypto’s price, sending it to over $95K.
BlackRock BTC ETF Reigns Supreme
However, on April 30, the investment instruments recorded a combined outflow of $56.3 million. It’s worth noting that BlackRock IBIT has still recorded an inflow of $267 million on Thursday. Also, IBIT has consistently recorded inflows since April 14.
Meanwhile, the recent combined outflow indicates that the institutional interest is fading, which might add pressure on the crypto’s price. Besides, many are also questioning the potential of the Bitcoin rally ahead.
Bitcoin Rally To Sustain? Here’s What To Watch Next
Despite the slowdown in BTC inflow on Thursday, it appears that investors are still putting their bets on the asset. It also indicates that the traders are confident in the long-term potential of Bitcoin, betting on a continuing rally.
Notably, BTC price today was up over 1.3% and traded over $96,000 during writing. However, in the early US hours, the price dropped to $93,796 on Friday. Besides, the future open interest of the asset also rose by over 5%, reflecting the strong confidence of the traders.
What Lies Ahead?
According to CryptoQuant analyst Axel Adler Jr, Bitcoin’s on-chain momentum is gaining steam, with three possible scenarios shaping its next rally. The optimistic outlook predicts a price surge to $150-175K if the Ratio breaks above 1.0.
A base case scenario suggests consolidation between $90-110K, while a pessimistic outlook warns of a correction to $70-85K. With the Ratio currently at 0.8, the next six months will be crucial in determining Bitcoin’s trajectory.
Source: CryptoQuant, X
Meanwhile, a recent BTC price prediction also showed that the crypto is likely to soar past the $100K mark this month. Considering all these, it appears that the Bitcoin rally may continue in the coming days, especially if the ETF inflow recovers to provide more support to the bullish momentum.
