Crypto Daily - May 10, 2026

Bitcoin holds $80K as altseason signals emerge; Tom Lee issues bold ETH prediction; BlackRock files tokenized money market funds; CLARITY Act markup scheduled for May 14.

1. Bitcoin SOPR Reaches 1.157 as Long-Term Holders Strengthen Market Dominance

Bitcoin | ★★★★★

Bitcoin's Spent Output Profit Ratio (SOPR) hit 1.157 this week, signaling that long-term holders are taking profits while the market rebounds from early April lows. BTC reached $82,000 highs in Q2 2026, with strong on-chain metrics suggesting conviction from institutional players who accumulated during the bear market.

Sources: Bitcoinist

2. Tom Lee Predicts Ethereum Will End 2026 Between $9,000-$12,000

Ethereum | ★★★★★

Bitmine chairman Tom Lee issued a bold year-end target for Ethereum at $9,000-$12,000, more than 3.5x current levels. The forecast comes as altcoin season chatter hits a 3-month high on social media, with on-chain data showing large Ethereum holders driving short-term consolidation patterns.

Sources: BeInCrypto

3. Bitcoin Open Interest Explodes Beyond 2025 All-Time High Levels

Markets | ★★★★★

Bitcoin's open interest in derivatives markets has surged past 2025 peaks as traders ramp up leveraged positioning. The explosive growth reflects rising conviction among derivatives traders, though Santiment warns that crypto bullish sentiment has reached extremes—a historical contrarian signal that often precedes pullbacks.

Sources: NewsBTC · Cointelegraph

4. BlackRock Files for Two Tokenized Money Market Funds to Sidestep CLARITY Act Yield Restrictions

Markets | ★★★★★

BlackRock has filed with US regulators to launch two tokenized money market funds, a strategic move to circumvent stablecoin yield restrictions being debated in the CLARITY Act. The filing signals institutional acceleration in bringing traditional Wall Street yields to blockchain infrastructure, independent of pending legislation.

Sources: CryptoSlate

5. Bitcoin May Dip Toward $70K as Fed Estimates Hotter Inflation Print

Markets | ★★★★☆

Cointelegraph markets analysis suggests Bitcoin could pull back to $70K if incoming inflation data exceeds Fed expectations. The warning comes as BTC defends the $80K level after a week of rallying from $78K, with macro conditions tightening as rate expectations shift.

Sources: Cointelegraph

6. Seven Major Bitcoin Mining Pools Adopt Stratum V2 Protocol to Reduce Centralization Risk

Bitcoin | ★★★★☆

Seven major Bitcoin mining pools have joined the Stratum V2 working group, accelerating adoption of the decentralized mining protocol that reduces pool operator control. The move strengthens Bitcoin's censorship resistance and aligns with the network's core principle of distributed power—a significant infrastructure upgrade for mining security.

Sources: Cointelegraph

7. JPMorgan, Mastercard & Ripple Complete First Cross-Border Tokenized Treasury Settlement on XRP Ledger

Layer 2 & Infra | ★★★★☆

In a landmark pilot on May 6, JPMorgan, Mastercard, and Ripple successfully redeemed tokenized US Treasury funds (OUSG) on XRP Ledger and received USD settlement in Singapore through Kinexys by J.P. Morgan. This proof-of-concept demonstrates real-world viability of cross-border institutional settlement using blockchain infrastructure.

Sources: CryptoSlate

8. CLARITY Act Markup Scheduled for May 14; Banking Groups Push Last-Minute Yield Compromise Revisions

Regulation | ★★★★☆

The Senate Banking Committee will mark up the CLARITY Act on May 14, giving the stalled crypto legislation its clearest path toward a committee vote this year. Banking trade groups have floated amendments to the stablecoin yield compromise just ahead of markup, creating late-stage uncertainty but also signaling momentum on the bill.

Sources: Bloomberg Crypto · CryptoSlate

9. Bitcoin Dominance Begins Decline as Altseason Commences; Chainlink Hits 3-Month High

Markets | ★★★★☆

Bitcoin dominance has started declining as capital rotates into altcoins, with Chainlink (LINK) climbing 15.27% over the past week to an intraday peak of $10.60—its highest level in three months. The shift reflects growing confidence in layer infrastructure and oracle services as the broader ecosystem matures.

Sources: Bitcoinist · BeInCrypto

10. Tether Ramps Up Wallet Freezes, Blocking Over $500M in USDT as Enforcement Accelerates

DeFi | ★★★★☆

Tether has escalated its wallet blacklisting efforts, now blocking over $500M in USDT. BlockSec data shows that only 3.6% of addresses blacklisted in 2025 were ever removed, underlining Tether's unilateral control over the largest stablecoin—a structural risk for users and a point of controversy in the push for decentralized alternatives.

Sources: Bitcoinist

11. Bitcoin Cycle Evolution Underway: Lower Volatility and Smarter Accumulation Replace Boom-Bust Swings

Bitcoin | ★★★☆☆

Bitcoin's market cycle is evolving with lower volatility and more controlled price action replacing the extreme swings of previous years, according to on-chain analysis. The shift suggests the market is maturing from retail-driven boom-bust cycles toward institutional smart-money accumulation patterns.

Sources: Bitcoinist

12. Pump.Fun Traders Hit 73% Profitability in April; Best Month Since 2024 Launch

NFTs & Gaming | ★★★☆☆

Pump.Fun traders achieved 73.28% profitability in April, the fourth consecutive month above 50%. The metric has more than doubled from its low of 30.08% in June 2024, reflecting a maturing meme coin ecosystem and improved retail trading outcomes on the platform.

Sources: BeInCrypto

13. VanEck Bitcoin ETF Issuer Predicts BTC to Hit $1M by Next US Presidential Term (by 2031)

Bitcoin | ★★★☆☆

Matthew Sigel of VanEck has issued a $1 million Bitcoin price target by 2031, representing a 1,150% increase from current levels. The ambitious forecast arrives as spot Bitcoin ETFs record their longest positive inflow streak in 9 months, signaling renewed institutional conviction.

Sources: CryptoSlate

14. Crypto Wrench Attacks Could Reach 130 Cases in 2026; CertiK Projects Hundreds of Millions in Losses

Regulation | ★★★☆☆

Blockchain security firm CertiK projects 2026 will close with 130 cryptographic wrench attacks (physical violence against crypto holders) involving hundreds of millions in losses. The concerning forecast reflects the rising real-world security risks as digital asset values climb and become more accessible targets.

Sources: BeInCrypto

15. CZ Says Crypto Exchange Rivals Opposed His Pardon Bid, Citing Competitive Concerns

Regulation | ★★★☆☆

Binance's former CEO CZ has stated that rival crypto exchanges actively opposed his pardon petition, suggesting competitive dynamics continue to shape regulatory outcomes. The disclosure underscores tensions within the exchange ecosystem as industry players vie for regulatory favor.

Sources: Cointelegraph

16. Analyst Flags 50% Bitcoin Crash to $42,000 as 'Biggest Bull Trap of the Cycle'

Markets | ★★☆☆☆

A crypto analyst has warned that Bitcoin's current price recovery is a familiar bull trap rather than a new bull market, predicting a potential 50% crash to $42,000. While contrarian views deserve consideration, the call contradicts recent strong on-chain metrics and institutional positioning data showing genuine conviction among LTH accumulators.

Sources: NewsBTC

17. Australian Police Seize $4.2M Bitcoin from Alleged Darknet Marketplace Operator

Regulation | ★★☆☆☆

Australian authorities seized $4.2 million in Bitcoin from two men facing money laundering and drug trafficking charges in connection with alleged darknet marketplace operations. The seizure underscores ongoing law enforcement success in tracing and recovering crypto assets linked to illicit activity.

Sources: Decrypt

18. LayerZero Labs Acknowledges Security Incident: Lazarus Group Attack on Internal RPCs

DeFi | ★★★☆☆

LayerZero Labs disclosed a Lazarus Group attack on its internal RPCs and unauthorized trading activity by a multisig signer, though the incident impacted only 0.36% of protocol assets. The transparency acknowledges both the attack and an internal protocol violation, setting a constructive precedent for incident disclosure.

Sources: The Defiant

19. SEC Chair Paul Atkins Signals 'Innovation Pathway' for On-Chain Trading Systems

Regulation | ★★★☆☆

SEC Chair Paul Atkins signaled openness to a limited 「innovation pathway」 for on-chain trading systems in a May 8 speech, borrowing regulatory concepts from the 1990s. The statement suggests potential near-term regulatory relief for decentralized finance infrastructure, though implementation details remain unclear.

Sources: CryptoSlate

20. Arbitrum DAO Court Order Approves $71M ETH Transfer from North Korea Hack to Aave

DeFi | ★★★☆☆

A court has authorized Arbitrum DAO to transfer $71M in Ethereum stolen in a North Korea-linked hack to Aave as part of recovery and restitution efforts. The ruling represents a significant legal precedent for using decentralized governance to manage hacked assets through institutional DeFi protocols.

Sources: Cointelegraph

Read online: xdaily.net/2026-05-10/

AI-curated by Claude. No editors. No sponsors. Not financial advice.