Just days before Coinbase launched CFTC-regulated XRP futures on its U.S. derivatives platform, the Oregon Attorney General filed a lawsuit against the company, claiming that 31 cryptocurrencies sold on Coinbase — including XRP, UNI, LINK, AAVE, and MKR — are unregistered securities.
This lawsuit goes way further than the SEC’s original complaint, which listed 13 tokens. The Oregon case expands that number to 31, calling them “crypto securities” and alleging they were offered and sold as investment contracts through Coinbase and Coinbase Prime.
What’s raising eyebrows is the inclusion of XRP, especially since Coinbase delisted the token shortly after the SEC sued Ripple in December 2020, and didn’t relist it until after the July 2023 summary judgment from Judge Torres. In that ruling, Judge Torres stated that XRP itself is not a security, a key detail the Oregon complaint does not appear to acknowledge.
Days before Coinbase’s CTFC regulated XRP futures goes live on Coinbase Derivatives the Oregon AG files a complaint that alleges XRP sold on the Coinbase platform and Coinbase prime is a ‘crypto security’ ignoring that Coinbase delisted XRP from those platforms and did not allow… https://t.co/cS0WTLqozUpic.twitter.com/xnc3fQjAxc
This legal action arrives at a pivotal time for Coinbase, as the exchange recently launched XRP futures trading for U.S. customers through its CFTC-regulated derivatives platform on April 21, hinting at renewed confidence in the regulatory status of the token.
The lawsuit has sparked fresh debate over the legal classification of digital assets in the U.S., as regulators and state officials continue to take different positions on what defines a security in the crypto space.
HYPE has reclaimed the $20 zone, surging 105% this month and reigniting bullish momentum with strong daily gains of 5.39%.
Recent technicals show a well-formed ascending triangle pattern, with resistance at $26–28 and a breakout target around $33–35.
On-chain volume has rebounded with a sharp rise to $5.27B on May 6, reflecting renewed trader participation and liquidity inflow.
Heavy long liquidation zones around $50K–$82K and short squeeze risk building above $103K, hinting at possible volatility spikes.
With the current momentum and pattern strength, HYPE looks positioned to retest its ATH of $35 within the next 4–6 weeks if resistance flips support.
Hyperliquid (HYPE) has made a strong resurgence with 105% jump in value in one month, back above the critical $20 mark. HYPE is now priced at $21.18 (+5.39% daily) at a market cap of $7.07B and 24h volume of $127.66M (+47.19%). The coin reached an all-time high (ATH) of $35.02 on Dec 21, 2024 (~40% off ATH), and several traders are hoping for a portfolio full reversal.
HYPE’s momentum is attributed to the following catalysts:
HYPE’s New Fee & Staking System Announcement (launched May 5):
Hyperliquid introduced a fee and staking system on May 5. Users can now stake their HYPE coins to receive a trading fee discount of between 5% and 40%, depending on the amount staked.
The fee discount uses different rates for futures and spots; spot volume counts as double for fee tier calculations. And a big upgrade comes from linking staking and trading accounts, so the discounts apply to any trading account and will incentivise all traders to engage and provide liquidity to the platform.
Ethena’s USDe Stablecoin After Launch:
Ethena Labs has integrated its USDe stablecoin into Hyperliquid’s DEX, and integrated USDe with its HyperEVM blockchain. Users who hold 100+ USDe on HyperCore are now eligible to earn daily rewards for holding USDe in their accounts that automatically air-drop to their spot accounts!
This integration allows for better liquidity as it builds asset use cases for USDe, and increases interest from investors in the entire Hyperliquid crypto ecosystem.
Bullish Setup: HYPE/USD Forms Ascending Triangle with $33–$35 Target in Sight
HYPE Coin recently completed a strong V-shaped recovery and is now forming an ascending triangle—a bullish chart pattern that often leads to breakouts. The main support zone sits at $17.5–18.0, which has held well during past dips. The key resistance zone is $26–28, and this is the level to watch for a breakout.
A Fibonacci retracement drawn from the previous high ($35) to the recent low ($10) shows that $26–28 also lines up with the important 0.618–0.786 Fib levels—making it a critical barrier where many traders expect a reaction.
The chart also shows a neckline breakout, a positive sign that buyers are in control. The 20/50 EMA lines have crossed upward, confirming a bullish setup, and the RSI is around 66, which shows good momentum but not overbought yet. The MACD also supports the bullish trend.
If HYPE can close above $26–28 with strong volume, the next target is around $33–35, its previous all-time high. Based on the current pace, this move could happen in the next 4–6 weeks.
Liquidity & Liquidations: How On-Chain Data Confirms HYPE’s Breakout Potential
Volume Surge: Confidence Rebuilding
HYPE’s on-chain volume tells the story of a market regaining strength. After its big run earlier this year, volume cooled to around $2.39B by April 5, showing a pause in trader interest and liquidity as price corrected.
But by May 6, daily volume jumped back to $5.27B—marking a strong resurgence of participation. This confirms that the current uptrend is supported by real buying power, not just a weak technical bounce.
Liquidation Heatmap: Historical & Current Pressure Zones
The liquidation map shows how traders have been positioned. During past corrections, especially after its all-time high, HYPE saw heavy long liquidations between $50K–$82K BTC equivalent, with a peak of 886 BTC liquidated at $82K.
These events reveal where bulls were forced out, marking danger zones in bearish scenarios. Now, the tables are turning: shorts are heavily stacked between $103K–$142K, with recent spikes (e.g., 722 BTC at $103K) showing that many are betting against further upside.
If HYPE Coin clears the $26–28 resistance, these shorts could get squeezed fast—likely triggering a surge toward the $33–35 ATH area.
The post Hyperliquid, HYPE Coin Surges 105% In A Month, Will The Current Momentum Drive To Restest ATH $35? appeared first on Coinpedia Fintech News
Key Highlights: HYPE has reclaimed the $20 zone, surging 105% this month and reigniting bullish momentum with strong daily gains of 5.39%. Recent technicals show a well-formed ascending triangle pattern, with resistance at $26–28 and a breakout target around $33–35. On-chain volume has rebounded with a sharp rise to $5.27B on May 6, reflecting renewed …
Ethereum, the world’s leading blockchain platform, will deploy the Pectra upgrade on its mainnet, scheduled for rollout on May 7, 2025.
The Pectra upgrade enhances the network’s performance and scalability and introduces groundbreaking features, particularly with EIP-7702, making Ethereum more user-friendly and secure.
Ethereum Pectra Upgrade Timeline Confirmed
Tim Beiko, a key figure in Ethereum’s development team, announced on X that the Pectra upgrade will officially launch on the mainnet on May 7, 2025, at epoch 364032. Initially planned for April 30, the upgrade was delayed due to technical issues on the testnet.
This cautious approach shows Ethereum’s commitment to stability and security, ensuring seamless network operation post-upgrade. Coinbase has also begun preparations to support the upgrade, ensuring necessary updates are implemented promptly after Pectra’s launch.
Pectra is Ethereum’s most significant upgrade, incorporating 11 Ethereum Improvement Proposals (EIPs). It builds on major upgrades like Dencun (March 2024), focusing on improving Layer 2 (L2) scalability, optimizing validator experiences, and enhancing user-friendliness.
These changes solidify Ethereum’s leadership while laying the groundwork for decentralized applications (dApps) to thrive.
Tim Beiko: Key Highlights of the Pectra Upgrade
Tim Beiko tweeted an overview of the upcoming Pectra update, with some notable highlights. One of Pectra’s standout features is EIP-7702, which extends standard Ethereum accounts (EOAs) with smart contract functionality.
“EIP-7702 enables use cases like transaction batching, gas sponsorship, or social recovery, all without migrating your assets” Tim tweeted.
Pectra also introduces several improvements for validators. Validators can increase their effective balance up to 2048 ETH, allowing them to accrue staking rewards directly without creating additional validators. Large validators can consolidate balances, reducing bandwidth strain on the P2P network.
“It also removes the pre-merge PoW follow distance, shortening the delay to process validator deposits, and introduces execution-layer triggerable withdrawals, which enable more trustless staking constructions.” Tim shared.
The Pectra upgrade will double the average number of blobs per block, from 3 to 6. This increase will enable L2 solutions to scale faster, meeting growing market demands. It’s a critical step in Ethereum’s scalability roadmap, especially as L2 platforms like Arbitrum and Optimism continue to grow.
“Raising this limit was in part possible due to another EIP (7623), which bounds the worst-case block sizes on the network!’ Tim tweeted.
Significance for the Ethereum Ecosystem
Pectra is a strategic leap forward for Ethereum to maintain its dominance in the blockchain space. By increasing blob capacity and improving validator efficiency, Ethereum can handle more transactions per second, fostering dApp growth and attracting new users.
These changes will better position Ethereum to meet future demands while providing an infrastructure for developers.
The Pectra upgrade has garnered positive feedback from the Ethereum community. In Tim Beiko’s announcement, some X users expressed excitement. However, one user noted the need for better public education, stating, “Too bad 99% of people have no idea what that means.”
The crypto market has rebounded after a recent dip. Currently, the total market cap of the cryptocurrency market stands at $2.96T. In the last 24 hours, the market has experienced a surge of 1.5%. During the period, almost all the top ten cryptos have seen growth. BTC has grown by 2.7%, ETH by 1.6%, XRP by 3.2%, SOL by 3.2% and DOGE by 2.9%. The big question is: what has triggered this rebound? Let’s dive into the key reasons behind this price surge.
Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election
President
announced a 25% tariff on auto imports from Canada and Mexico. The move created havoc in the global economy. It even affected the crypto industry as well. It was feared that the development could push the Northern American region into a severe trade war.
Yesterday, a temporary solution was made in the issue, as Trump agreed to a 30-day delay in the implementation of the tariff plan.
The decision was the final outcome of a series of discussions conducted with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum by Trump.
The temporary halt in the implementation of the plan has averted immediate trade disruptions, and, thus, considerably lowered macroeconomic pressure. Experts opine that this development has positively influenced the crypto market.
Stock Market Gains Add to Crypto Rally
Yesterday, the US market reported a rise of around 1.05%. The S&P 500 index surged from $5,781.50 to $5,842.62.
The crypto market, even crypto stocks, have benefited from this positive momentum in the US stock landscape.
Yesterday, the MicroStrategy stock price climbed from $277.54 to $308.55, marking a notable rise of 11.17%
On the same day, the stock price of Coinbase Global grew from $214.64 to $222.45, recording a surge of 3.63%
Weaker US Dollar and Interest Rate Speculation
In the last four days, the US Dollar index has declined by 3.21%. A weaker dollar can signal concerns about the US economy’s health. It can lead to higher import prices, potentially fueling inflation.
If the dollar is falling, and that fall is contributing to inflation, the US Fed may adjust interest rates. Reports say that there is a 52% probability for a Fed rate cut in June 2025.
Lower interest rates can encourage investors to seek higher returns in riskier assets, such as cryptos.
It is fair to assume that the drop in the DXY index reading and speculations regarding the June interest rate cut have influenced the crypto market positively.
Currently, the total market cap of the crypto market stands at $2.96T. The 200-day SMA of the market stands at $2.79T, the 100-day SMA at 3.28T and the 50-day SMA at 3.19T.
Recently, the market rebounded from the 200-day SMA line – which acts as a strong support. Now, it remains at least 5.74% above the support.
The 100-day SMA and 50-day SMA now act as resistant levels. If it breaks above the range of $3.19T and $3.28T, the market could see a strong bullish rally.
The RSI of the market is at 47.58. This also suggests that there is enough room for the market to grow further.
In conclusion, the crypto market is showing strength, with key technical levels in focus. If the trend continues, a bullish breakout could be on the horizon.
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The post Why Crypto Market Is Up Today: Bullish Technicals & Market Catalysts appeared first on Coinpedia Fintech News
The crypto market has rebounded after a recent dip. Currently, the total market cap of the cryptocurrency market stands at $2.96T. In the last 24 hours, the market has experienced a surge of 1.5%. During the period, almost all the top ten cryptos have seen growth. BTC has grown by 2.7%, ETH by 1.6%, XRP …
