Binance Founder CZ Signs MoU With Kyrgyzstan For Web 3 Development

Monicah W

Binance Founder CZ Signs MoU With Kyrgyzstan For Web 3 Development

Binance founder Changpeng Zhao (CZ) has inked a deal with Kyrgyzstan’s National Investment Agency to trigger Web 3 adoption metrics. Both parties have reiterated a commitment to integrate Web 3 technologies into every facet of the local economy leaning on CZ’s expertise.

Kyrgyzstan Turns To Binance Founder CZ For Web 3 Direction

According to an X post by Kyrgyzstan President Sadyr Zhaparov, the Central Asian country has inked a deal with CZ. The Binance founder and the National Investment Agency signed a Memorandum of Understanding (MoU) to develop the local Web 3 ecosystem.

Signed with the consent of the president, parties will commit to building out a thriving cryptocurrency ecosystem for residents. To achieve this, the National Investment Agency will lean on Zhao’s expertise as the Binance founder takes on an advisory role.

“The signing of the Memorandum opens new horizons for the development of digital technologies and the blockchain ecosystem in the country,” said President Zhaparov.

Furthermore, CZ says the MoU will extend to distributed ledger technology (DLT) and real-world application of blockchain outside of speculation. However, while not expressly stated, pundits theorize that the founder of the top cryptocurrency exchange will explore cross-border use cases and other financial utility for cryptocurrencies.

There are plans to train residents on blockchain, cybersecurity, virtual asset management, and other emerging technologies. The economic impact of the Web 3 initiative is far-reaching and will contribute a chunk to Kyrgyzstan’s GDP by 2030.

CZ Excited To Take On The Advisory Role

CZ has expressed his commitment to the advisory role, noting that Kyrgyzstan is the latest in a line of MoUs. The Binance founder has previously provided advisory services in both official and unofficial capacities on cryptocurrency regulatory frameworks and real-world DLT applications.

“I find this work extremely meaningful,” said CZ.

Amid reciprocal tariffs affecting crypto prices, CZ disclosed that his advisory services to countries do not extend to geopolitics.

Apart from his advisory role, Zhao has donated a portion of his wealth to disaster relief in affected regions. The latest is a hefty donation of over $1 million to earthquake relief efforts in Myanmar and Thailand. Beyond charitable donations, the Binance founder has downplayed the impact of exchange listing on token prices.

The post Binance Founder CZ Signs MoU With Kyrgyzstan For Web 3 Development appeared first on CoinGape.

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Ethereum Price Outperforms BTC as Blockstream CEO, Adam Back Reacts to Vitalik’s Latest Proposal

Vitalik Buterin Reveals Plans to Revamp Ethereum; Will It Boost ETH Price?

Ethereum price continued to consolidate above $1,820 over the weekend, outperforming BTC over the 14-day timeframe.

Ethereum (ETH) Consolidates as Vitalik Shares Fresh Proposal

Ethereum held steady above $1,820 across the weekend, registering relative strength compared to Bitcoin, which slid below $96,000.

According to CoinGecko, ETH price posted a 14-day gain of 15.7% while Bitcoin price rally was subdued at 12% over the same period. Daily trading volumes for ETH remained elevated above $7 billion, reflecting robust market participation.

Ethereum price action (ETHUSD) May 4, 2025 | Coingecko
Ethereum price action (ETHUSD) May 4, 2025 | Coingecko

Investor sentiment appears bolstered by Vitalik Buterin’s latest technical commentary. The Ethereum founder posted on May 3 about the importance of protocol simplicity, stating, “One of the best things about Bitcoin is how simple it is… let’s bring those benefits to Ethereum.”

His suggestion alluded to streamlining Ethereum’s design, a move that may aim to address criticisms around execution layer complexity, state management, and overall maintainability.

While short on specifics, the proposal hints at a philosophical shift — one that favors reduced protocol surface area and improved auditability over maximal flexibility.

This comes amid a broader industry push for modularity, security, and composability. Ethereum’s resilience over the weekend and its outperformance signal that Buterin’s remarks may have struck a positive tone with short-term traders.

Bitcoin Maxis Mock Vitalik’s Latest Network Update

Buterin’s remarks triggered swift criticism from prominent Bitcoin maximalists. Alistair Milne quipped that Bitcoiners have been urging Vitalik to embrace simplicity “for a decade.” Adam Back, CEO of Blockstream and a legendary cypherpunk, delivered the most scathing critism.

“I literally told him so a decade ago, but they still haven’t learned about balance vs utxo or the complexity of state, “rich state fullness” mistake. Redirecting miner revenue to the insiders with PoS etc. At this point just flush it before it hits 0, and buy Bitcoin.” – Adam Back, May 4 2025.

Back blamed Ethereum’s complexity — especially the Ethereum Virtual Machine (EVM) — for the recent ByBit wallet hack.

According to him, the EVM’s design makes it “basically impossible” for hardware wallets to verify transaction details reliably, creating exploitable vectors in real-world deployments.

From this lens, Ethereum’s initial ambition to support smart contracts without first building a minimal, robust foundation is seen as a strategic misstep.

The ensuing comments on X has further re-hased the long-standing ideological divide between Bitcoin maximalists, and Ethereum advocates over the last 24 hours.

What’s Ahead?

While Bitcoin maximalists dismiss Vitalik’s call for simplicity as a desperate pivot, Ethereum markets responded differently.

With ETH showing strength and price stability above $1,820, buyers appear to interpret the proposal as a sign of Ethereum’s maturity possibly moving toward more efficient fundamentals.

Despite criticisms from Bitcoin maxis like Adam Back, Ethereum price has evidently attracted buying more buying pressure that BTC over since Vitalik’s proposal on Saturday.

Ethereum Price Forecast Today: ETH Targets $1,950 on Vitalik’s Proposal Momentum

Ethereum price remains resilient, consolidating just below $1,830, while showing early signs of a bullish continuation. Price action is forming a subtle ascending triangle on the daily timeframe, suggesting accumulation beneath resistance.

Notably, the Moving Average Convergence Divergence (MACD) indicator reflects positive momentum, with the MACD line holding well above the signal and zero lines. This bullish divergence, confirmed by a widening histogram, hints at increasing buying pressure despite recent profit-taking.

Ethereum Price Forecast Today
Ethereum Price Forecast Today

Ethereum price forecast today shows ETH price is holding up well-above its 50-day MA at $1,784, while the 100-day moving average near $2,176 remains the first significant ceiling.

More so, ETH trending currently trading just above the 20-day EMA, which is turning upwards. The Stochastic Slow strategy has recently issued a sell signal (-2) on the daily close, but this appears to be weakening in effect as price fails to retrace lower, indicating that bears lack conviction to press further

Within these conditions, should Ethereum price break and close above $1,880, the path toward $1,950 opens with relatively little friction, supported by declining volatility and improved sentiment after Vitalik’s latest proposal.

A failure to break higher could see ETH retest $1,783, but sustained strength above that level could keep the upside momentum active.

The post Ethereum Price Outperforms BTC as Blockstream CEO, Adam Back Reacts to Vitalik’s Latest Proposal appeared first on CoinGape.

What To Expect From Pi Network in May 2025?

Pi Network has faced a significant setback recently, registering one of the few declines among the top tokens. Currently, Pi is trading at $0.6077, reflecting a 15% drop over the past month. 

This poor performance has left many investors questioning its future, especially as it struggles to show signs of improvement.

Pi Network Needs To Note Inflows

Despite the decline, the Chaikin Money Flow (CMF) indicator reveals that Pi Network has observed some inflows. However, this increase is still stuck in the negative zone, under the zero line. This suggests that while there are occasional inflows, the outflows remain dominant, keeping the altcoin subdued.

The negative CMF reading indicates that selling pressure still largely controls the altcoin price movement. Even though there is some positive market activity, it is not enough to overcome the dominant outflows. 

Pi Network CMF
Pi Network CMF. Source: TradingView

The lack of support from investors is driven by fundamental issues with Pi Network, which Alvin Kan, COO, Bitget Wallet, agreed with, responding to BeInCrypto.

“Pi Network’s initial surge was largely driven by anticipation and years of community mining, but the follow-through has been more muted. As early users began realizing gains, increased token supply met limited exchange listings and a still-developing ecosystem. Without strong utility or broader liquidity, investor demand naturally tapered off. Like many new tokens, Pi is now facing the challenge of transitioning from early hype to long-term value delivery,” Kan told BeInCrypto.

Pi Network’s correlation with Bitcoin is also a point of concern. Currently, Pi shares a correlation of -0.11 with Bitcoin, indicating an inverse relationship. This means that whenever Bitcoin experiences upward momentum, Pi tends to face declines.

With Bitcoin nearing $100,000, Pi Network could struggle to capitalize on Bitcoin’s potential gains, potentially facing further corrections.

Given Bitcoin’s strength, Pi may continue to decline, as its price typically moves in the opposite direction of Bitcoin’s rise. This inverse correlation suggests that even if Bitcoin reaches new highs, PI might not benefit from the broader market rally. Instead, it could face additional downward pressure.

Pi Network Correlation To Bitcoin
Pi Network Correlation To Bitcoin. Source: TradingView

PI Price Needs A Strong Reversal

Pi Network’s price has dropped 15% over the last month, currently sitting at $0.6077. The decline in price, especially after the high expectations surrounding the token, has caused frustration among investors. As the selling pressure mounts, it appears that more investors are pulling their money out of Pi, resulting in ongoing losses for the token.

If this trend continues and Bitcoin’s price continues to rise, the altcoin could experience a further drop. The negative correlation with Bitcoin could result in Pi falling through the $0.6077 support level and heading toward the $0.5192 support. If the trend persists, the altcoin may approach its all-time low of $0.4000, further deepening its losses.

Thus, staying on alert is the best option for any investor.

Pi Network Price Analysis.
Pi Network Price Analysis. Source: TradingView

While the novelty of Pi Network’s minting on the mobile device took off strongly, it did not stick around for long, impacting the price as a result.

“Pi Network’s mobile mining and referral model helped it build a massive user base, but also invited skepticism around sustainability. While the project clarifies that it doesn’t follow a multi-level structure, concerns persist over perceived lack of transparency and real-world use cases. To move past the debate, the focus will need to shift toward building credible utility and expanding access. If that happens, sentiment could recover—but trust takes time,” Kan told BeInCrypto.

However, if market conditions improve and investor sentiment shifts, Pi Network may have a chance at recovery. A breach of the $0.8727 resistance, followed by flipping it into support, could signal a reversal. This would set Pi on a path toward $1.0000, invalidating the current bearish outlook and setting the stage for potential growth.

The post What To Expect From Pi Network in May 2025? appeared first on BeInCrypto.

Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom?

Shiba Inu (SHIB) price is mimicking historical patterns as two on-chain metrics signal the formation of a local bottom. The Market Value to Realized Value (MVRV) ratio is falling amid a spike in the age consumed. These metrics are flipping bullish after a steep decline in Shiba Inu price in the last seven days, as most meme coins struggle against a bearish market sentiment. Shiba Inu Price Today Amid 8% Crash Shiba Inu price has posted an 8% intraday loss today, May 31, as it fluctuates between a daily low of $0.0000123 and a daily high of $0.0000133. At press time, SHIB trades at $0.0000125 with $289 million in 24-hour trading volumes. Shiba Inu Price Today The declining Shiba Inu price coincides with the recent meme coin crash, as the entire meme token market cap shed $10 billion in value within a week. The sell-side pressure from long liquidations and… Read More at Coingape.com

The post Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom? appeared first on CoinGape.