Coinbase has made history, becoming the first crypto company to join the S&amp;P 
500. The move, announced on May 12 by S&amp;P Global, will take effect next 
Monday, May 19. The exchange will replace Discover Financial Services, which 
was recently…

Coinbase stock jumps 8% as it becomes first crypto company to be included in S&P 500

XRP jumped to a daily high of $2.61 in its latest rally, reaching its highest 
level since March 6. The token rose 4% in the past 24 hours and is up 6% over 
the last week. Trading activity has picked…

XRP hits two-month highs as breakout momentum points to $3 target

Cardano price started a fresh increase above the $0.750 zone. ADA is now 
correcting gains from $0.8650 and testing the $0.7750 support. ADA price 
started a decent increase above $0.750 and $0.7750. The price is trading below 
$0.80 and the 100-hourly simple moving average. There was a break below a 
connecting bullish trend line with support at $0.820 on the hourly chart of 
the ADA/USD pair (data source from Kraken). The pair could start another 
increase if it clears the $0.80 resistance zone. Cardano Price Dips To Support 
In the past few days, Cardano saw a fresh increase above the $0.750 level, 
like Bitcoin and Ethereum. ADA was able to clear the $0.7750 and $0.80 
resistance levels. It tested the $0.8650 zone. A high was formed at $0.8634 
and the price recently corrected some gains. There was a move below the $0.80 
level. Besides, there was a break below a connecting bullish trend line with 
support at $0.820 on the hourly chart of the ADA/USD pair. The pair tested the 
$0.7750 zone. A low was formed at $0.7742 and the price is now consolidating 
below the 23.6% Fib retracement level of the recent decline from the $0.8634 
swing high to the $0.7742 low. Cardano price is now trading below $0.80 and 
the 100-hourly simple moving average. On the upside, the price might face 
resistance near the $0.80 zone. The first resistance is near $0.8180. The next 
key resistance might be $0.8450. If there is a close above the $0.8450 
resistance, the price could start a strong rally. In the stated case, the 
price could rise toward the $0.880 region. Any more gains might call for a 
move toward $0.90 in the near term. More Losses in ADA? If Cardano’s price 
fails to climb above the $0.80 resistance level, it could start another 
decline. Immediate support on the downside is near the $0.7750 level. The next 
major support is near the $0.740 level. A downside break below the $0.740 
level could open the doors for a test of $0.7050. The next major support is 
near the $0.680 level where the bulls might emerge. Technical Indicators 
Hourly MACD – The MACD for ADA/USD is losing momentum in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 
level. Major Support Levels – $0.7750 and $0.7400. Major Resistance Levels – 
$0.8000 and $0.8180.

Cardano (ADA) Dips: Temporary Correction or Start of Deeper Move?

Bitcoin has continued its upward trend, recording a weekly price increase of 
10.4% and currently trading at $103,881. The asset has surged over 24% in the 
last month, fueled by growing optimism across both crypto and traditional 
markets. Although still about 4% below its January all-time high, the latest 
developments suggest that bullish momentum may be building again. This renewed 
price strength appears to be supported by significant capital movements, 
including a notable Bitcoin outflow from the Binance exchange. Related 
Reading: Bitcoin 6-Month Flight Plan To $188,000, Here’s The Roadmap Bitcoin 
Exchange Outflows Suggest Accumulation Phase According to recent data shared 
on CryptoQuant’s QuickTake platform by analyst Amr Taha, over 3,000 BTC, 
valued at approximately $312 million, was withdrawn from Binance on May 12, 
marking one of the largest daily outflows in recent months. This coincided 
with a key macroeconomic development: a new trade agreement between the United 
States and China, which also sparked a sharp rebound in US equity markets, 
with the S&amp;P 500 jumping more than 3%. Taha’s analysis indicates that this 
substantial Bitcoin withdrawal is part of a broader trend. Binance’s BTC 
reserves have declined consistently, falling from approximately 595,000 BTC in 
late February to 541,400 BTC by mid-May. The ongoing reduction in exchange 
balances typically signals a preference among investors for cold storage 
solutions or private wallets. Historically, such moves are viewed as 
indicative of accumulation behavior, suggesting lower near-term selling 
pressure and a more bullish medium-term outlook. The timing of the withdrawal, 
immediately following a geopolitical breakthrough between two of the world’s 
largest economies, adds further context. Taha highlights that capital markets 
responded positively to the easing of US-China tariff tensions, and the 
corresponding activity in the crypto space suggests Bitcoin investors are 
aligning their strategies accordingly. With macro uncertainty temporarily 
subdued, large holders appear to be repositioning for potential future gains, 
removing liquidity from exchanges to mitigate exposure and reduce immediate 
sell-side pressure. Macro Trends Influence Market Positioning The analyst 
further noted that market participants seem to be increasingly responsive to 
macro signals. The scale of the BTC withdrawal on May 12, paired with rising 
equity markets, illustrates how capital is shifting across asset classes in 
response to broader economic developments. Taha suggests this coordinated 
movement reflects renewed risk appetite and a possible recalibration of 
investor strategies in light of improving global trade dynamics. Related 
Reading: Are Bitcoin Bears Losing Out? $31 Million Wiped Out In BTC Shorts 
Liquidation While it remains to be seen whether this momentum can be 
sustained, recent patterns support the view that long-term holders and 
institutional participants are gaining confidence in Bitcoin&#8217;s role within a 
diversified investment strategy. As traditional markets recover and 
geopolitical risks ease, Bitcoin&#8217;s reduced exchange reserves and growing off- 
exchange holdings may lay the groundwork for another test of its all-time 
high. The coming weeks will likely be crucial in determining whether current 
inflows translate into a full-scale breakout or a period of consolidation. 
Featured image created with DALL-E, Chart from TradingView

Bitcoin Nears All-Time High as $312M BTC Exit Binance Following US-China Trade Deal

Eric Council Jr., the SIM swap hacker who helped compromise the Securities and 
Exchange Commission&#8217;s X account last year, made $50,000 performing similar 
attacks and even searched how to tell if the FBI is investigating him, recent 
filings show.
The recent filing was part of the prosecutor&#8217;s request to sentence him to two 
years in prison over his role in the hack, which saw the SEC X account publish 
a false announcement that a spot Bitcoin exchange-traded fund was approved, 
shaking up the markets.
Council searched: &#8220;How can I know for sure if I am being investigated by the 
FBI&#8221; and &#8220;How long does it take to delete Telegram account,&#8221; US prosecutors 
discovered following a search warrant of his house, car and devices last June, 
according to a May 12 court filing.
While Council&#8217;s Telegram chats were set up to be removed after two weeks, US 
prosecutors still found chats of Council discussing SIM swaps with others 
believed to be located overseas.
Council also admitted to law enforcement that he received around $50,000 for 
performing SIM swaps for clients between January to June 2024. He advertised 
himself as a SIM swapping expert on Telegram under the username easymunny, 
offering services for payment between $1,200 and $1,500.
## How Eric Council Jr. pulled the hack off, then got caught
Council executed the SIM swap by creating fake identity documents to 
specifically impersonate someone that his co-conspirators identified as having 
access to the SEC&#8217;s X account.
These fake documents were then used to trick a staff worker at 
telecommunications firm AT&amp;T into reassigning the victim&#8217;s phone number to 
Council&#8217;s SIM card.
_Council inside an AT &amp;T Store on Jan. 9, 2024. Source: US Government_
Council had to share the last four digits of the victim&#8217;s Social Security 
number and driver&#8217;s license to effectuate the SIM swap.
He then bought a new iPhone from an Alabama Apple store, inserted the new SIM 
and shared the access codes to the SEC&#8217;s X account with his co-conspirators, 
who later posted the fake news about the spot Bitcoin ETFs on Jan. 9. The 
Bitcoin products received official approval the following day.
Council received payment for the SEC SIM swap in Bitcoin (BTC) and other 
cryptocurrencies, the prosecutors said.
However, Council&#8217;s luck ran out on June 12, 2024, when surveillance agents 
observed him attempting to execute a SIM swap at an Apple store, impersonating 
another victim.
Law enforcement executed a search warrant six days later and recovered several 
pieces of circumstantial evidence, including templates for fake identification 
cards on his laptop.
_Two fake ID documents recovered from Council &#8216;s Telegram account. Source: US 
Government_ 
He pleaded guilty on Feb. 10, after a federal grand jury returned an 
indictment charging him with Conspiracy to Commit Aggravated Identity Theft 
and Access Device Fraud last October.
_**Related:**__**SEC Chair: Blockchain &#8216;holds promise&#8217; of new kinds of market 
activity**_
The fake post accumulated over 1 million views before the SEC confirmed it had 
been hacked roughly 15 minutes later.
The two announcements resulted in Bitcoin&#8217;s price initially rising $1,000 
before abruptly falling nearly $2,000 shortly after, wiping out tens of 
millions of dollars worth of market positions.
The security team at X confirmed that the SEC didn&#8217;t have two-factor 
authentication installed on its X account at the time of the incident. The SEC 
claimed it initially had 2FA enabled but was erroneously removed by X Support 
following a request by an SEC staff member.
_**Magazine:**__**Japanese porn star &#8216;s coin red flags, Alibaba-linked L2 runs 
at 100K TPS**_

Cryptocurrency price in ZAR