Crypto news

Sui network’s native token SUI surged 50% over the past week, from $0.94 to $1.41, as a Nasdaq-listed company staked a large portion of the token supply and developers announced upcoming features including zero-fee stablecoin transfers and private transactions. Trading volume jumped from $213 million to over $2.5 billion. Analysts attribute the rally to a supply squeeze after Sui Group Holdings staked over 108 million SUI, and to partnerships such as Paga Group’s plan for cross-border transfers on Sui. The network also plans zero-fee stablecoin transfers and a privacy feature, aligning with a broader market focus on privacy tokens. However, sustained growth depends on execution of these features and adoption. While short-term momentum may continue, risks include token unlocks and broader crypto market cycles. SUI traded around $1.31 on Monday.

Seven major bitcoin mining pools, representing nearly 75% of global hashrate, have joined the Stratum V2 working group, backing an open standard that shifts block construction control from pool operators to individual miners. Signatories include Foundry, AntPool, F2Pool, SpiderPool, MARA Pool, Block Inc, and DMND. Stratum V2 allows miners to create their own block templates, choosing which transactions to include, addressing a key centralization concern. Under the current Stratum V1, pool operators control transaction selection. Foundry alone controls 34.2% of hashrate. The protocol, launched in 2022, now gains significant adoption. The move comes as miners face tight margins, with hashprice near breakeven and difficulty set to rise. CoinShares estimates up to 20% of miners are unprofitable. Network hashrate is at 998 EH/s.

Following a $292 million exploit at KelpDAO, four DeFi protocols have migrated over $3 billion in total value locked to Chainlink's Cross-Chain Interoperability Protocol (CCIP), boosting LINK's price 15% to $10.52. The shift reflects growing demand for safer cross-chain infrastructure, with Chainlink's decentralized oracle networks now securing over $110 billion. LayerZero, the cross-chain platform previously used by KelpDAO, issued an apology for its role in the breach, acknowledging that it allowed a high-value application to operate with insufficient safeguards. While LayerZero argues the exploit was isolated and $9 billion has moved through its network since, protocols are increasingly reassessing vendor risk, strengthening CCIP's position as a security-focused standard.

Bitcoin briefly topped $82,000 on Sunday, driven by institutional inflows, improving macro conditions, and sustained spot ETF demand. The cryptocurrency rose 1.4% to $81,700 as of Sunday evening, reaching its highest level since May 6. Analysts cited $622.7 million in weekly ETF inflows and progress on the Clarity Act as positive factors. Meanwhile, Sui surged 25% to $1.34, outperforming altcoins. The rally was fueled by SUI Group Holdings staking most of its 108.7 million SUI tokens, a partnership with fintech firm Paga for tokenized cross-border payments, and CME Group's launch of Sui futures. Upcoming confidential transactions and ecosystem milestones also boosted sentiment.

MicroStrategy CEO Phong Le confirmed the firm will sell Bitcoin only under specific conditions, including to fund dividends from its Stretch preferred stock if accretive to shareholders, and for tax management. The shift from Michael Saylor's 'never sell' stance was signaled in Q1 2026 earnings, with Le framing it as a pragmatic calculation. Le downplayed market impact concerns, noting Bitcoin's daily trading volume of $60 billion dwarfs the $1.5 billion annual dividend obligation. MicroStrategy holds 818,334 BTC acquired at ~$75,537 per coin, with manageable leverage of 10-15%.

A crypto whale, Garrett Jin, transferred $1.35 billion in Ethereum (577,896 ETH) to Binance over four days, sparking sell-off concerns. The tokens were swapped from Bitcoin eight months ago, and the whale is now down approximately $1.3 billion. Institutional players added pressure, with BlackRock and Fidelity depositing over 35,000 ETH into Coinbase Prime last week. Binance's ETH holdings have risen to 3.62 million ETH, about 24.6% of centralized exchange supply, while total exchange reserves climbed to 14.95 million ETH.

A pilot transaction involving JPMorgan, Mastercard, and Ripple demonstrated a near-real-time cross-border redemption of a tokenized U.S. Treasury fund on the XRP Ledger. Ripple redeemed its Ondo Short-Term U.S. Government Treasuries (OUSG) holdings on XRP Ledger, with the asset leg settling in under five seconds. The fiat payout was routed through Mastercard's Multi-Token Network and settled via JPMorgan's Kinexys platform and correspondent banking network, delivering USD to Ripple's bank account in Singapore. The split between public-chain asset settlement and interbank fiat transfer is a key development, linking tokenized fund redemptions to traditional banking infrastructure without manual intervention. However, the transaction remains a pilot with undisclosed amounts and bank details, and its repeatability for broader institutional use is yet to be proven.

Zcash surged roughly 40% in a single session on Wednesday, briefly topping $600 before settling near $570, extending a 100% monthly gain. The rally was catalyzed by Multicoin Capital's disclosure of a large position, with partner Tushar Jain arguing that privacy coins like Zcash are increasingly needed as a store of value against wealth taxes. Cypherpunk Technologies, backed by Gemini's Tyler Winklevoss, has accumulated nearly 295,000 ZEC tokens (1.78% of supply), aiming for 5%. The move was amplified by over $62 million in futures liquidations, mostly shorts, and open interest climbing above $1 billion. Analysts note Zcash's lower float and shielded holdings make it sensitive to fresh demand. Grayscale’s projections suggest an 18-fold increase if ZEC captures 5% of the currency-focused crypto sector, while BitMEX co-founder Arthur Hayes targets 10% of Bitcoin's market cap. The rally reflects a broader shift as investors seek privacy in an era of increasing surveillance and AI integration.

Zcash announced plans to roll out quantum-recoverable wallets within a month and achieve full post-quantum status within 12 to 18 months, positioning itself ahead of major cryptocurrencies in quantum resistance. CEO Josh Swihart detailed the timeline at Consensus Miami, also targeting transaction throughput on par with Visa and Mastercard. The privacy coin has surged over 73% in the past month, driven by institutional interest after Multicoin Capital disclosed a significant position in ZEC. The network's shielded pool now holds 30% of circulating ZEC, an all-time high, with around $600-700 million flowing through cross-chain swaps since launch.

A Manhattan federal judge has modified a restraining notice to allow Aave to transfer $71 million in frozen ether linked to a North Korean hack from Arbitrum to an Aave LLC wallet, while preserving the legal claims of North Korean terrorism victims on the funds. The order shields participants in the transfer from liability under the notice. The ruling follows an off-chain Arbitrum governance vote supporting the transfer, though a binding onchain vote is still required. The move resolves a standoff amid claims by attorneys for terrorism judgment creditors that the frozen ETH could be seized due to its connection to the Lazarus Group. This action is part of a broader legal strategy targeting North Korean-linked assets in DeFi. Similar creditors have separately sued Railgun DAO and Digital Currency Group, alleging the privacy protocol allowed North Korean hackers to launder funds and that DCG's governance token purchase made it liable.