Crypto Market Fear Subsides Significantly, Today's Fear and Greed Index at 45

May 31. For the month of May, it’s looking like both Bitcoin and Ethereum will close out with bearish monthly candles. At press time, Bitcoin is down 2.81% for May, while Ethereum has shed 9.98% so far this month. Turning to June, the crypto space remains pretty bleak. For one, the quadrennial FIFA World Cup kicks off on June 11, which will draw both attention and capital away from the already fragile crypto market—shifting focus to the US stock market, AI sectors, and the World Cup specifically. The US stock market and Polymarket are projected to capture the bulk of the market’s capital and spotlight during this period. On the flip side, historical data shows the crypto market’s average June returns are negative: Bitcoin posts an average June performance of -0.14%, while Ethereum’s is -6.85%. All told, a positive trend in crypto this June is looking unlikely amid the ongoing bearish cycle. That said, contrarian coins such as HYPE, BNB, and ZEC might present niche, localized opportu

May 31st – Renowned trader Killa (@KillaXBT) announced yesterday that HYPE’s current trend bears a striking resemblance to BNB’s prior surge structure, complete with matching chart patterns and backtesting signals. Accordingly, Killa expects a solid buying opportunity for HYPE in the $48 to $52 range. He intends to place long-term buy orders in this zone, stating, “If the trend structure holds, the risk-reward ratio looks incredibly appealing.” For context: Killa, a Bitcoin-focused quantitative trader, accurately called the peak of this bull market in May 2025 and has over 180,000 followers on Platform X.

On May 31, data from HyperInsight shows that a crypto “whale” added to its long Ethereum position after the market rallied in the morning. As of press time, the whale’s Ethereum long position totals $10.36 million, with a liquidation price of $1,993.9. Ethereum’s current price is less than 2% away from that liquidation level.

May 31 — South Korea is pressing ahead with formalizing its Korean won stablecoin framework, and local financial, securities, banking, IT, and foreign institutions are stepping up efforts to acquire shares in domestic cryptocurrency exchanges, Yonhap News Agency reported. Hana Bank announced it will purchase approximately $665 million worth of a 6.55% stake in Dunamu, the operator of the Upbit exchange. Samsung Securities, Samsung SDS, and Samsung Card plan to collectively take a 4% stake in Dunamu, while Hanwha Investment & Securities will add an additional 3.90% share. Separately, Mirae Asset Consulting has agreed to spend roughly $88.5 million to secure a 92.06% equity stake in Korbit. Meanwhile, Korea Investment Securities and OKX Ventures each plan to acquire about 20% of Coinone.

May 31 — Aave published a postmortem report for the April 18 rsETH incident, detailing that Kelp’s rsETH LayerZero V2 cross-chain bridge (used for Unichain to Ethereum transfers) received a forged message during a cross-chain transaction. This breach resulted in 116,500 rsETH being minted on Ethereum without a corresponding burn of tokens on Unichain, creating a balance discrepancy. Aave confirmed the attack targeted third-party cross-chain bridge infrastructure. The attacker deposited the stolen rsETH into eight Aave V3 positions, from which they borrowed 82,650 WETH and 821 wstETH, impacting Aave’s markets. Per the report, the attacker’s rsETH holdings on Arbitrum have been burned. To fix the shortfall, LayerZero’s OFT adapter minted 116,131.72 rsETH across five batches, fully restoring rsETH’s asset backing. Both the affected WETH and rsETH markets on Aave have returned to normal functionality.

May 31. For today’s widely discussed topic surrounding a potential partner for Binance’s stock trading division, BlockBeats has put together a quick overview of Alpaca’s key details: Founded around 2017, Alpaca is based in San Mateo, California. It’s a leading player in the brokerage-as-a-service (BaaS) space, helping global partners seamlessly integrate U.S. stock trading functionality. Its current partners include Kraken, SBI Securities, and Thai financial investment app Dime!, among others. This past January, Alpaca raised $150 million in a funding round that valued the company at $1.15 billion. The round was led by Drive Capital, with participation from Citadel Securities, crypto exchange Kraken, and Opera Tech Ventures—the venture capital arm of French bank BNP Paribas. As part of the deal, Alpaca also secured a $40 million credit line. Earlier reports have suggested Binance may add U.S. stock trading, with Alpaca set to provide custody and clearing services for the offering.