hodler

21 May 2026, 11:50

HYPE ETFs See Rare First-Week Surge as Eric Balchunas Calls Launch Timing ‘Perfect’

Two newly launched US-based exchange-traded funds tied to Hyperliquid’s HYPE token are seeing strong early momentum, as trading activity continues to rise since their market debut. According to SoSoValue data, 21Shares’ THYP and Bitwise Asset Management’s BHYP have generated nearly $41 million in combined trading volume since launching earlier this month. Rare Momentum Behind Hyperliquid ETFs Weighing in on the sharp growth in activity, Bloomberg ETF analyst Eric Balchunas said that both funds recorded another 50% increase in trading volume on Wednesday alone. In a post on X, Balchunas described the launches as “perfectly timed,” and added that most major asset classes, including stocks, bonds, gold, Bitcoin, and the broader crypto market, have declined recently. HYPE, on the other hand, has climbed 37% since THYP launched on May 12. According to Balchunas, the steady increase in trading activity during the funds’ first week is “rare” for new ETFs, which often see initial excitement fade quickly after launch. 21Shares became the first issuer to launch a HYPE-linked ETF in the US with THYP on May 12, attracting $1.2 million in net inflows. BHYP followed on May 14 with $750,000 in net inflows and has continued trending upward since launch. Grayscale Investments also entered the race for a Hyperliquid-linked investment product after filing for a HYPE ETF in March. The proposed fund is still under review by US regulators. Meanwhile, blockchain analytics platform Lookonchain reported that wallets linked to Grayscale bought and staked 510,387 HYPE tokens worth about $24.95 million over the past week. A wallet linked to Galaxy Digital also bought 158,100 HYPE, which is worth around $8.8 million. Hyperliquid Growth Trajectory Zooming out, HYPE has gained nearly 40% so far this month, pushing its year-to-date returns to almost 123%. Bitwise CIO Matt Hougan recently described the platform as one of the most important crypto projects to emerge in recent years. He also believes that investors still underestimate both its long-term impact and the value of the HYPE token. Hougan said Hyperliquid has evolved beyond a crypto perpetual futures exchange into a financial “super-app” which offers exposure to commodities, S&P 500 futures, pre-IPO stocks, and prediction markets. The exec added that nearly half of the platform’s trading volume now comes from non-crypto assets and could rise further by the end of the year. The post HYPE ETFs See Rare First-Week Surge as Eric Balchunas Calls Launch Timing ‘Perfect’ appeared first on CryptoPotato .

21 May 2026, 11:39

The Case Against Bitcoin as Sound Money

21 May 2026, 11:36

HYPE Surges 15% as Hyperliquid ETFs Pull $25.5M, YTD Gains Top 100%

Hyperliquid News Hyperliquid's HYPE token climbed to an intraday high of $58.97 on Thursday, posting a 15.3% daily gain that outpaced rival movers like Zcash and Worldcoin. The rally coincided with...

21 May 2026, 11:35

Bitcoin’s Slowing Momentum Signals Consolidation, Not Collapse, According to Swissblock Data

BitcoinWorld Bitcoin’s Slowing Momentum Signals Consolidation, Not Collapse, According to Swissblock Data Bitcoin’s recent price momentum has cooled from its mid-May peak, but the current phase is best understood as a period of consolidation rather than a precursor to a market collapse, according to crypto data analytics firm Swissblock. The firm’s proprietary price momentum indicator, which ranges from -1 to 1, has declined from a high of 0.9 in mid-May to approximately 0.7. Decoding the Momentum Indicator Swissblock’s analysis suggests that as long as this indicator remains above -0.5, the market should be viewed as consolidating, not breaking down. The firm draws a parallel to market behavior observed in June and July of last year, when momentum also declined from a peak but stayed above the -0.5 threshold. Following that period of consolidation, the price eventually rallied to a new high. Historical Context and Market Implications This historical pattern provides a useful framework for interpreting current conditions. A consolidation phase often reflects a market pausing to absorb recent gains, with traders re-evaluating positions and new buyers entering at more stable price levels. It is a natural part of market cycles, distinct from the sharp, sustained sell-offs that characterize a true collapse. What This Means for Investors For investors, the key takeaway is that slowing momentum does not automatically signal danger. The -0.5 threshold acts as a critical line: staying above it suggests the market is gathering strength for a potential next move upward, while a sustained drop below it would warrant a more cautious outlook. Monitoring this indicator alongside other metrics, such as trading volume and on-chain activity, can provide a more complete picture. Conclusion While Bitcoin’s price action has moderated, Swissblock’s data-driven perspective offers a counterpoint to panic-driven narratives. The consolidation phase, if it follows the pattern of mid-2023, could be a prelude to renewed upward momentum. However, as with all market analysis, these signals are probabilistic, not deterministic, and investors should remain informed and cautious. FAQs Q1: What is Swissblock’s price momentum indicator? A1: It is a proprietary metric that ranges from -1 to 1, designed to measure the strength and direction of Bitcoin’s price momentum. A reading above -0.5 is interpreted as a consolidation phase, while below that signals potential weakness. Q2: Does a slowing momentum always lead to a rally? A2: No. While historical patterns show a similar consolidation period in mid-2023 led to a rally, past performance does not guarantee future results. The indicator is one of many tools used for market analysis. Q3: What should investors do during a consolidation phase? A3: Investors should avoid making impulsive decisions based on short-term price movements. Consolidation periods can be an opportunity to review portfolios, assess risk tolerance, and wait for clearer directional signals before taking action. This post Bitcoin’s Slowing Momentum Signals Consolidation, Not Collapse, According to Swissblock Data first appeared on BitcoinWorld .

21 May 2026, 11:33

How Many Bitcoins Does Elon Musk's SpaceX Hold Amid $1.75T IPO Filing?

Elon Musk’s SpaceX has disclosed that it held 18,712 Bitcoin in its S-1 registration statement with the U.S. Securities and Exchange Commission, confirming one of the largest known corporate Bitcoin positions among private technology companies preparing to enter public markets. The filing showed that SpaceX’s Bitcoin holdings had a fair value of $1.29 billion as of March 31, 2026. With Bitcoin recently trading above $77,000, the same holdings would be worth about $1.45 billion based on current market prices. SpaceX said the Bitcoin position had a cost basis of roughly $35,000 per BTC. That places the total purchase cost near $661 million. The company said it has held Bitcoin on its balance sheet since 2021 and uses outside custodians to store the reserve. SpaceX Reports 18,712 BTC in IPO Filing The Bitcoin disclosure gives investors a clearer view of SpaceX’s treasury strategy as the company moves toward a public listing. The filing places SpaceX among a limited group of major corporations with large Bitcoin holdings. Tesla, another company led by Musk, holds 11,509 BTC, according to BitcoinTreasuries data cited in market reports. Strategy, led by Michael Saylor, remains the largest corporate Bitcoin holder with 843,738 BTC. SpaceX reported an unrealized loss of $112 million on its Bitcoin investment last year as prices declined during part of the period. In 2024, the company recorded a paper gain of $955 million as cryptocurrency prices rose. Earlier estimates from blockchain researchers had suggested that SpaceX held a smaller amount of Bitcoin. The S-1 filing now confirms the company’s reported total and shows that prior wallet-based estimates may not have captured all of its custodial holdings. IPO Filing Shows Revenue, Loss and Valuation Target SpaceX filed to list publicly on Nasdaq under the ticker SPCX. The company is seeking one of the largest public offerings ever, with reports placing the possible valuation near $1.75 trillion and some market estimates above $2 trillion. The S-1 showed that SpaceX generated $4.69 billion in first-quarter revenue and recorded a $4.28 billion net loss. For 2025, the company reported revenue of $18.7 billion, up from $14 billion in 2024. The filing presented SpaceX as a business spanning reusable rockets, satellite internet, defense contracts, artificial intelligence infrastructure and long-term space systems. Starlink remains a major growth area, while launch services continue to provide a core revenue base. The company also disclosed a major AI compute agreement with Anthropic. The deal requires Anthropic to pay SpaceX about $1.25 billion per month through May 2029 for compute capacity. The contract could generate more than $40 billion in revenue if it remains active through its full term. Binance Launches SpaceX Pre-IPO Contract The expected SpaceX listing has also moved into crypto-linked derivatives markets. Binance has launched a SpaceX-linked “Pre-IPO Perpetual Contract” under the SPCXUSDT pair, allowing traders to speculate on the company’s expected valuation before its public debut. The contract is margined and settled in Tether’s USDT stablecoin. Binance said the product is designed to give retail traders early exposure to high-profile public listings using crypto-native futures infrastructure. Before SpaceX begins trading publicly, the contract price is expected to track public valuation signals, including private funding rounds and IPO range updates. After the company lists, the contract may shift to reflect live share performance. Prediction markets are also tracking the SpaceX IPO. Traders on Polymarket have priced in a more than 70% chance that the offering closes above $2 trillion, according data. The SpaceX IPO may arrive during a crowded period for large technology listings. OpenAI and Anthropic are also preparing for possible public offerings, which could draw investor capital toward new AI and space-related equities.

21 May 2026, 11:30

Millionaire Businessman Reveals Where The Real Crypto Value Is, And It’s Not Bitcoin

Millionaire businessman Kevin O’Leary has indicated that stablecoins are more valuable than Bitcoin because of their role in the global financial system. He also highlighted the “big opportunity” as one of the layer-1 networks could be the biggest beneficiary of traditional finance (TradFi) firms moving on-chain. Kevin O’Leary Praises Stablecoins Over Bitcoin In an X post, Kevin O’Leary shared a FOX interview in which he praised stablecoins over Bitcoin. He described BTC as a speculative asset whose price fluctuates due to its volatility. Meanwhile, the businessman called stablecoins an interesting product in financial services, noting that they are valuable because they are backed by U.S. Treasury bills. Related Reading: The Bitcoin Playbook To Know: Step 4 Says A Crash Is Coming, But Where’s The Bottom? O’Leary further remarked that the “beauty” of these stablecoins is that one can transfer them in seconds, not days. As such, he explained how these stablecoins top the current payment system, since one’s money can sometimes get lost when using FedWire or banking transfer systems. The businessman added that these transfer systems are also very expensive, which is another advantage stablecoins have over them, as one can transfer money for a fraction of the fee using stablecoins. As such, O’Leary suggested that stablecoins, rather than Bitcoin, could have a significant impact in the real world. However, he highlighted BTC’s edge, noting that it is commonly referred to as digital gold. It is worth noting that O’Leary is a Bitcoin bull despite his comment about BTC being a speculative asset. Last month, he revealed that he had consolidated his crypto holdings into just BTC and Ethereum after years of gaining exposure to other tokens. The businessman explained that he made this move to consolidate into just BTC and ETH after a regulatory shift and institutional analysis forced a reassessment. The Big Opportunity For Crypto Networks As part of his interview, Kevin O’Leary also mentioned that there is one big opportunity out there for crypto networks, with forecasts that the S&P 500 could adopt blockchain technology for contract analysis, inventory management, and logistics. He remarked that he doesn’t know which network will benefit most from this, as nobody knows which blockchain these companies will standardize on. Related Reading: Historical Data Shows How Many Days Are Left Until Bitcoin Price Hits New ATH Above $120,000 However, he noted that the winner among these crypto networks will emerge once at least one company in each of the economy’s 11 sectors chooses to standardize on that blockchain network. It is worth noting that Ethereum appears to be leading Bitcoin and other layer-1 networks in this regard at the moment. Ethereum is currently the leader in RWA tokenization, with the network holding 67% market share of all tokenized assets. RWA.xyz data shows that the network has a total RWA value of $18.6 billion, excluding stablecoins. Institutions have notably chosen Ethereum and other newer layer-1 networks over the Bitcoin network, which is lagging in RWA tokenization. Featured image from Pixabay, chart from Tradingview.com