Whale Evaded Order to Open 10x Long Position on ZEC and HYPE, Holding a Total Position Value of $24 million

May 18: Analyst Yu Jin notes current market trading enthusiasm is far lower than it was at the trough of the last bear market in December 2022. BTC: During the prior cycle’s bottom, Binance’s BTC/USDT pair averaged $20 billion in daily trading volume; today, that figure sits at only around $5 billion. Based on the retracement levels from the last bear market, the estimated bottom of this current cycle for Bitcoin is roughly $31,000. ETH: At the last cycle’s low point, ETH/USDT’s average daily trading volume was about $4 billion, while it’s now closer to $2 billion. BNB: Back at the prior cycle’s bottom, BNB/USDT’s average daily volume reached ~$50 million—nearly identical to its current level. A critical observation: Bitcoin’s current price is far higher than it was at the last bear market’s bottom. When measured in Bitcoin terms, the market’s trading enthusiasm appears even more pessimistic. BlockBeats points out that while crypto bear markets are torturous, two main factors driv

May 18 – Yonhap News Agency reports: A South Korean court has partially granted Samsung Electronics’ request for an injunction against the union’s planned strike. This development caused South Korea’s KOSPI index to reverse earlier losses, wiping out a 4.68% drop seen in morning trading.

May 18 – Iran has launched Hormuz Safe, a state-run digital marine insurance platform that issues maritime policies for vessels transiting the Persian Gulf and Strait of Hormuz and settles premium payments via Bitcoin and other cryptocurrencies. According to reports, the platform is backed by Iran’s Ministry of Economy, with the explicit goal of bypassing SWIFT and Western financial intermediaries to cut reliance on traditional global financial systems. Supporters within the Iranian government project that if Hormuz Safe gains a meaningful share of the Persian Gulf maritime insurance market, its revenue could top $10 billion. That said, the platform faces major hurdles: it lacks formal international recognition, carries risks of U.S. secondary sanctions, and its initial client base is expected to be limited to vessels already operating in the sanctioned shipping gray area.

May 18, U.S. President Trump posted an AI-generated photo depicting him alongside an alien on the Truth Social platform this morning.

On May 18, on-chain analyst Ai (@ai_9684xtpa) reported that address 0xB4d…B186a has once again sold $15.46 million worth of Wrapped Bitcoin (WBTC). Over the past three days, this wallet has offloaded a total of $35.73 million in WBTC. This address frequently transacts with blockchain builder Titan Builder, and currently holds $125 million in total assets—95% of which are in Ethereum (ETH) and WBTC—indicating a potential for further selling activity.

May 18 – KelpDAO announced that, to uphold the highest security standards for rsETH, it will integrate with supporting blockchain networks. Effective June 15, the protocol will discontinue official cross-chain support for rsETH on the following chains: Optimism, Manta, Mode, Blast, Scroll, X Layer, zkSync, Zircuit, Swellchain, Hemi, Berachain, Sonic, HyperEVM, Unichain, TAC, Avalanche, Plasma Stable, MegaETH, Monad, and Movement. Users holding rsETH on these chains are required to bridge their assets back to Ethereum Mainnet before June 15. After the deadline, asset recovery remains possible but will incur a $100 USDC fee per address. The detailed recovery process will be announced around June 15.