Ethereum Foundation’s “Trillion Dollar Security” Initiative
The Ethereum Foundation has announced a new security plan with the goal of making the network a trillion-dollar financial infrastructure on a global scale. The initiative, called “Trillion Dollar Security (1TS),” aims to take Ethereum’s current $63 billion worth of asset security to even higher levels.
The plan will consist of three phases: publishing a comprehensive security analysis of the network, closing high-risk attack vectors, and increasing security information sharing within the ecosystem. The initiative will be co-chaired by EF Security Leader Fredrik Svantes and Josh Stark from the management team. The advisory team will also include security experts Samczsun, Mehdi Zerouali, and Zach Obront.
Ukraine Sets to Establish National Bitcoin Reserve
Ukraine Plans to Be One of the First European Countries to Include Bitcoin in Its National Reserve. Deputy Chairman of the Finance Committee Yaroslav Zhelezniak announced that a bill to establish a national strategic Bitcoin reserve has been prepared. The bill is being implemented in collaboration with Binance and aims to clarify the country’s digital asset regulations.
Ukraine aims to legalize crypto in the first quarter of 2025, while regulatory work is progressing in coordination with the National Bank and the IMF. The new law will include capital gains tax and anti-money laundering protocols. Binance CEO Richard Teng stated that many countries, including Ukraine, have contacted them about creating a Bitcoin reserve.
JPMorgan Completes First Tokenized Treasury Transaction
JPMorgan Chase successfully completed the first tokenized US Treasury transaction on a public blockchain through Ondo Finance. The transaction was completed by bridging private and public networks using Chainlink technology, demonstrating JPMorgan’s expanding vision in the Web3 space.
The development reflects the bank’s deepening strategy for tokenized real-world assets (RWA) and the interest of institutional investors in DeFi. JPMorgan’s blockchain platform Kinexys was developed with the aim of executing such transactions in real-time 24/7 and reducing costs.
VanEck Launches New “Onchain Economy” ETF: NODE Goes Public
Asset management giant VanEck has launched a new “VanEck Onchain Economy ETF (NODE)” fund that invests in blockchain and digital economy-focused companies. NODE, which began trading on the Cboe exchange on May 14, will invest in crypto miners, exchanges, infrastructure providers, and fintech platforms.
The fund will not hold cryptocurrencies directly, but may also include crypto-related financial instruments. Matthew Sigel, VanEck’s head of digital asset research, emphasized that they will update the investment universe with IPOs and strategy changes. In addition, the portfolio balance will be adjusted according to beta and volatility in market fluctuations.
This fund is VanEck’s second major crypto-focused ETF initiative. The Digital Transformation ETF (DAPP), which was launched in April, currently has $185 million in net assets.
CFTC Commissioner Mersinger Becomes the New CEO of the Blockchain Association
Summer Mersinger, a member of the U.S. Commodity Futures Trading Commission (CFTC), will leave her position on May 30 and become the new CEO of the Blockchain Association. This leadership change comes at a time when regulatory legislation critical to the crypto industry is being considered.
Mersinger has drawn attention during the Biden administration for her crypto-friendly stance. In her new role, she will lead the industry’s representation and advocacy efforts in Washington. Current CEO Kristin Smith will move to the Solana Research Policy Institute as president, while Mersinger will assume leadership of the association.
21Shares and Sui Partnership Strengthens: SUI TVL Up 70%
Switzerland-based ETP provider 21Shares and layer-1 blockchain Sui have officially renewed their partnership with the aim of increasing Sui adoption globally. The partnership, announced on May 14, covers product development, research reports, and new initiatives. The move, which is part of 21Shares’ expansion strategy into the US market, is seen as a sign of confidence in Sui’s infrastructure and DeFi potential.
Sui’s DeFi ecosystem is experiencing a major upswing; TVL (total locked assets) has increased by 70% in the past month to around $2.06 billion, making the network the eighth-largest blockchain. The partnership news comes shortly after 21Shares filed for a SUI ETF with the US Securities and Exchange Commission (SEC).
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BITCOIN(BTC)
BTC is trading at $102,670, down 0.81% as of morning hours. Bitcoin rose to 106,000 with the strong support it received from the demand zone in the 98,000-100,000 band. However, a horizontal consolidation process is observed after this rise. The price, which is stuck between the 102,000-104,000 zone, has not yet determined a clear direction. As long as daily closings do not come below 98,000, this region can be evaluated as a buying opportunity. If 106,000 is exceeded in the upward break, we may encounter a new upward wave. However, if it drops below 98,000, the 90,000 – 91,000 region can be monitored as potential support.
ETHEREUM(ETH)
ETH is priced at $ 2,586 as of the morning hours with a 0.90% loss in value. Ethereum carried its rise that started at the level of 2,435 to the 2,623 resistance zone. However, the reactions at this level and the price approaching the 2,529 support, which is the Fibonacci 50% retracement level, indicate that the correction may continue in the short term. If there are closings below the 2,529 level, the 2,435 level may be tested again. On the other hand, if the 2,623 level is maintained, the 2,700 – 2,750 band may be the new target. The price is currently in a squeeze structure and a clear breakout should be expected for direction determination.
RIPPLE(XRP)
XRP is traded at $2.5181 with a 1.21% loss as of the morning hours. XRP has made a strong rally by rising to 2.6445 levels with the rise it started from 2.113. However, the peak structures and bearish candles that formed after this rise indicate that profit realizations have begun. For XRP, which is currently priced at 2.5235 levels, the support levels of 2.4834 and 2.3630 should be followed. If the price cannot find a buyer at these supports, the correction may deepen. In upward movements, the 2.6445 resistance can be tested again and acceleration can be seen if it is exceeded.
AVALANCHE(AVAX)
AVAX is traded at $24.47 with a 1.96% loss in value as of the morning hours. AVAX, with the strong purchases it received from the 20.00-21.00 region, broke the 23.03 resistance in volume and made an increase to the level of 28.77. However, the candle structure that formed after this increase and the lower high formations that followed indicate that the upward momentum has weakened. The price, which is currently trading at 24.55 levels, is in a short-term correction trend and the 23.03 level can be tested as support again. In the event of the loss of this region, the 20.00 levels, where the previous liquidity pools are located, may come to the agenda again. Above, 25.50 and 28.77 levels are in resistance position.
SOLANA(SOL)
SOL is traded at $174.58 with a 1.40% loss in value as of the morning hours. Solana reached the 176 resistance with the rise it started from the 145 level. However, with buyers remaining weak at this level, the price is currently trying to hold on to the 174.50 levels. While the 176 resistance is followed as an important threshold, if it is broken, the 201.83 level may become the target. However, if the current weak structure continues, the possibility of a pullback to the 144.87 support is on the table. If the price holds above this area, buying pressure may gain strength again in the short term.
