May 26: According to HTX market data, Bitcoin is trading at $76,648.30, down 0.57% over the past 24 hours; Ethereum is priced at $2,091.45, with a 24-hour drop of 0.63%. Compared to the rebound two days ago, funding rates on major centralized exchanges (CEX) show both Bitcoin (BTC) and Ethereum (ETH) are in bearish territory. Some platforms have logged negative funding rates for BTC overall, indicating no clear bullish signals for the cryptocurrency, and its funding rate structure is notably weak. For ETH, bearish signals are even more pronounced: all platforms’ ETH funding rates fall below the 0.005% threshold, reflecting a more consistent bearish trend than BTC, with extremely low investor willingness to take long positions. BlockBeats Note: Funding rates are mechanisms cryptocurrency exchanges use to keep perpetual contract prices aligned with their underlying asset prices. They represent a fee exchange between long and short traders (exchanges do not collect this fee), designed to

May 26 — A Wall Street Journal report argues stablecoins are essentially “private money.” While legislation like the GENIUS Act and CLARITY Act works to bring stablecoins into regulatory compliance, these digital assets still pose structural risks to the broader financial system. Stablecoins were designed to pair the U.S. dollar’s stability with the efficiency of blockchain-based payments. But because they operate on fragmented, privately run infrastructure, they lack the “uniformity” of the traditional U.S. dollar framework. Even major stablecoins like USDT and USDC, which are pegged to the dollar, can still stray from their $1 peg. Stablecoin issuers have a natural incentive to scale up their offerings and “chase yield,” often investing in higher-risk, less liquid assets to boost returns. If the value of these underlying assets drops, a stablecoin may fail to hold its peg, triggering user redemptions and wider market ripple effects. Citing Chainalysis data, the report notes stable

KelpDAO announced on May 26 that the final batch of 20,373.72 rsETH was transferred to the rsETH OFT Adapter earlier today, successfully wrapping up a key phase in the rsETH recovery plan. Over the last two weeks, Aave and Kelp have collectively added roughly 116,000 rsETH to the rsETH OFT Adapter. Since operations resumed, all core functions of rsETH—including minting, redemption, and reward distribution—have been fully restored, and the asset has maintained full collateralization status throughout the entire recovery process.

May 26: U.S. Central Command (CENTCOM) stated that U.S. and Israeli fighter jets struck multiple Iranian vessels in the Strait of Hormuz. This resurfacing conflict underscores the fragility of the U.S.-Iran ceasefire agreement, coming shortly after President Donald Trump mentioned negotiations on a temporary deal with Tehran were progressing. During early Asian trading on Tuesday, S&P 500 futures slipped following the latest developments; WTI crude oil prices edged modestly higher, while gold prices fluctuated after a minor dip earlier. Trump is facing pressure from U.S. domestic hardliners on Iran, such as Republican Senator Lindsey Graham, who argue the emerging agreement concedes too much to Tehran. (FXStreet)

May 26 — According to Onchain Lens monitoring, a dormant whale that sold off HYPE after 8 months of inactivity has opened a total $11.75 million position: a 2,839 ETH long position and a 94,000 HYPE short position.

May 26 – Cryptocurrency analyst Axel Adler Jr. noted that even though Bitcoin (BTC) recently reclaimed the $77,000 mark, net inflows into exchanges paired with continuous outflows from U.S. spot Bitcoin ETFs are still creating localized selling pressure in the market. Data shows over the past week, roughly 18,000 BTC has flowed into exchanges net—meaning more coins are being moved to platforms for sale. At the same time, U.S. spot Bitcoin ETFs saw net outflows of around 16,000 BTC in that same period. Combined, this adds up to potential selling pressure of roughly 34,000 BTC. Glassnode data also indicates that the daily trading volume of spot BTC ETFs has dropped below $20 billion, down from over $50 billion at the end of 2025—a sign that speculative demand from traditional finance channels is cooling. However, market sentiment has improved recently due to expectations of a U.S.-Iran peace agreement. BTC quickly rebounded to around $77,800 after falling below $75,000. Derivatives dat