Ripple&#8217;s failed bid for Circle highlights the competitive landscape in the crypto sector, emphasizing the strategic importance of stablecoin dominance. The post Ripple bid up to $5 billion to acquire Circle but offer was turned down appeared first on Crypto Briefing.

Ripple bid up to $5 billion to acquire Circle but offer was turned down

**Key takeaways:**
 * Traders remain cautious about ETH&#8217;s price action, but optimistic sentiment is beginning to return.
 * The May 7, Ethereum Pectra upgrade could boost investor sentiment, but ETH&#8217;s price action shows investors are still hesitant to open new positions.
Ether (ETH) has been trading below $1,900 since March, leading investors to 
question whether the failed attempt to reclaim $4,000 in December 2024 
signaled the end of an era for the leading altcoin. Concerns continue to mount 
as derivatives market data shows that professional traders remain cautious 
about ETH&#8217;s price outlook.
ETH monthly futures should trade at a premium of 5% or more compared to spot 
markets to compensate for the longer settlement period, but this indicator has 
held below the neutral threshold.
_Ether 3-month futures annualized premium. Source: Laevitas.ch_
Part of the lack of enthusiasm stems from disappointment with the United 
States government, as Ether was classified alongside other altcoins in the 
&#8220;Digital Asset Stockpile&#8221; Executive Order on March 6. The Trump administration 
decided that only Bitcoin (BTC) was significant enough to be included in its 
own &#8220;Strategic Reserve.&#8221; In practical terms, altcoins already held by the 
government could be retained, but not newly acquired.
## Ether&#8217;s market cap falls below its top four rivals
For the first time ever, in April 2025, Ether&#8217;s market capitalization dropped 
below the combined value of its four largest competitors: Solana (SOL), BNB, 
Cardano (ADA), and Tron (TRX).
_Ether market cap vs. the sum of SOL, BNB, ADA, TRX. Source: TradingView / 
Cointelegraph_
After rebounding from lows near $1,400, Ether&#8217;s total market capitalization 
now stands at $217 billion, which is enough to surpass the combined value of 
its four main competitors. However, unless Ether consistently outperforms 
these rivals, sentiment is unlikely to improve. Some traders have high hopes 
for the upcoming &#8216;Pectra&#8217; network upgrade, but current derivatives data does 
not reflect a bullish outlook.
Ether&#8217;s decline has also coincided with weak demand for the Ethereum spot 
exchange-traded fund (ETF) in the United States. Institutional interest was 
lacking, despite ETH&#8217;s price rising from $2,400 to $4,000 between October and 
December 2024. In contrast, Bitcoin ETFs saw assets more than double, growing 
from $50 billion in October 2024 to $110 billion currently.
## Ethereum leads in TVL, but there&#8217;s a catch
Although Ethereum remains dominant in terms of total value locked (TVL), it 
has struggled to match Solana&#8217;s integrated user experience or Tron&#8217;s dominance 
in the stablecoin sector. Traders appear uninterested in Ethereum&#8217;s higher 
decentralization or improved security, especially for activities involving 
frequent deposits and withdrawals, where layer-2 solutions provide limited 
benefits.
The absence of demand for leveraged bullish ETH positions does not necessarily 
mean that professional traders expect further price declines. If whales and 
market makers were unwilling to offer downside protection, this would be 
reflected in the ETH options markets, signaling increased risk of a market 
downturn.
_ETH 30-day options skew (put-call) at Deribit. Source: Laevitas.ch_
Contrary to some expectations, put (sell) options are trading at levels 
similar to call (buy) options. Notably, professional traders are now more 
comfortable with downside risks than they were two weeks ago. While ETH 
derivatives are not signaling strong bullish sentiment, they also do not 
suggest that professional traders are worried about further declines at 
current price levels.
_**Related:**__**3 Ethereum charts flash signal last seen in 2017 when ETH 
price rallied 25,000%**_
There is a chance that the upcoming &#8216;Pectra&#8217; network upgrade could positively 
affect Ether&#8217;s price. Scheduled for May 7, this event might renew investor 
interest in the project by closing the gap with some of its competitors. 
Staking mechanisms designed for institutional investors could result in more 
ETH being locked in validator nodes, reducing the circulating supply. 
Historically, Ethereum upgrades have often been associated with brief spikes 
in ETH&#8217;s price.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

Ethereum bulls show interest as traders’ confidence in ETH’s $1.8K level improves

Coinbase is revolutionizing crypto lending with a nationwide rollout of 
bitcoin-backed loans up to $1 million, unlocking instant liquidity without 
triggering taxable events. Borrow up to $1M Without Selling—Coinbase Expands 
Bitcoin-Backed Loans Nationwide Crypto exchange Coinbase (Nasdaq: COIN) 
announced on social media platform X on April 30 that its bitcoin-backed loan 
service is now fully […]

Coinbase Expands $1M Bitcoin-Backed Loans Nationwide—Global Launch Next

Solana has held strong above the $145 level, maintaining a bullish structure 
despite recent market volatility. However, bulls have failed to push 
decisively above the $155 resistance zone, a key level that could open the 
door to a broader rally. While the current price action favors buyers, the 
failure to break higher suggests that a retrace may be on the table if 
momentum continues to fade. Related Reading: Chainlink Flashes Daily Buy 
Signal – Breakout Next? Top analyst Jelle shared insights on X, noting that 
Solana’s monthly candle “is not looking too shabby.” According to Jelle, SOL 
took out all the consolidation lows and still managed to close the candle back 
above those levels—a positive technical signal suggesting resilience and 
potential continuation. Still, traders remain cautious, with many watching the 
$155–$160 area as the next big hurdle. A confirmed breakout above that zone 
could signal a move toward previous highs, while continued rejections might 
trigger a healthy correction into lower demand levels. With global markets 
still dealing with macroeconomic uncertainty, the next few sessions will be 
crucial for SOL. Bulls must act quickly to defend current levels and reclaim 
higher ground if they want to keep the trend in their favor. Solana At A 
Pivotal Level Amid Market Uncertainty Solana is currently trading at a 
critical level that could serve as a major pivot point for either a strong 
bullish recovery or a continuation of the broader bearish trend. While global 
tensions and ongoing trade conflicts between the U.S. and China continue to 
weigh on investor sentiment, recent market behavior hints at a potential 
bounce. The broader crypto market has shown signs of resilience, and Solana 
has been one of the standout performers. Since early April, Solana has climbed 
over 58%, recovering significantly from its local low near $95. This upward 
movement has helped shift short-term sentiment, but the price now faces a key 
test at the $160 resistance level. A clean break and hold above this zone 
could open the door for a larger rally, potentially taking SOL toward its 
previous highs. Jelle&#8217;s optimistic analysis highlights that Solana’s latest 
monthly candle is showing strength. According to Jelle, SOL took out all the 
consolidation lows and still managed to close the month back above 
them—typically a bullish sign. This sets the stage for a possible retest of 
the $240 level, a target that aligns with historical resistance and previous 
price action. However, failure to clear $160 could lead to renewed selling 
pressure, especially if global macro conditions worsen. For now, bulls must 
defend current levels and aim for a breakout to maintain momentum. Related 
Reading: Ethereum Consolidates Against Bitcoin – Dominance Shift On The 
Horizon? Crucial Test At $160 Resistance Solana (SOL) is currently trading at 
$147 after several days of struggling to break above the recent high of $157. 
Bulls have maintained control in the short term, but momentum appears to be 
fading as price action continues to stall below the key $160 resistance zone. 
This level remains a crucial barrier that needs to be reclaimed decisively to 
confirm a continuation of the uptrend. To sustain the bullish structure and 
avoid a deeper retracement, SOL must push through $160 and target the $180 
level next. A successful move above this range would not only restore 
confidence but could also set the stage for a stronger recovery in the broader 
altcoin market. However, the longer Solana fails to break higher, the greater 
the risk of a pullback. If bulls lose momentum and selling pressure builds, a 
correction into the $130–$120 zone becomes increasingly likely. This area has 
previously served as a key demand zone and could offer support if tested 
again. Related Reading: Ethereum Shows 4H Bearish Divergence – Can Bulls Hold 
$1,750? For now, all eyes are on SOL’s ability to reclaim $160. The next few 
sessions will be critical in determining whether Solana resumes its upward 
trajectory or enters a consolidation and correction phase. Featured image from 
Dall-E, chart from TradingView

Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?

The crypto industry has seen a significant shift toward regulatory compliance 
since its early days, according to James Smith, co-founder of Elliptic, a 
crypto compliance firm established in 2013. 
&#8220;In the early days, only a few companies approached compliance in a serious 
way,&#8221; Smith told Cointelegraph at the Token2049 event. &#8220;Coinbase was our first 
customer &#8212; they knew from the start that they wanted to build their business 
that way. But for most others, it just wasn&#8217;t a major priority.&#8221;_Elliptic co- 
founder James Smith at Token2049. Source: Cointelegraph_
That began to shift as regulators, including those in New York State, took a 
more active interest in the crypto industry. The involvement of traditional 
financial institutions like Fidelity and DBS Bank also contributed, as they 
entered the space with established compliance expectations from traditional 
finance services.
Fidelity, for instance, offered its first crypto service for customers in 
2019, while the Asian giant DBS created a digital exchange for accredited and 
institutional investors in 2020.
&#8220;We&#8217;ve seen a big change in the last couple of years. Exchanges on the global 
map all care about compliance now, because they want to be part of a global 
ecosystem,&#8221; Smith said.
_**Related:**__**DeFi security and compliance must be improved to attract 
institutions**_
## Compliance questions after Bybit hack
Crypto exchanges and peer-to-peer protocols remain the industry&#8217;s key 
compliance targets. For authorities, these firms are seen as critical choke 
points where Anti-Money Laundering and broader financial surveillance controls 
take effect. At the same time, they&#8217;re frequent candidates for sophisticated 
hacks and laundering operations, as seen in the Lazarus Group&#8217;s tactics.
The latest example comes from the Bybit hack, where the Lazarus Group engaged 
in a sophisticated money laundering scheme to funnel funds. The hackers 
quickly swapped low-liquidity tokens for Ether (ETH), then swapped them for 
Bitcoin (BTC) using no-KYC (Know Your Customer) decentralized exchanges.
&#8220;They went through some no KYC exchanges, which probably shouldn&#8217;t exist, but 
also through a decentralized protocol where there was lots of liquidity 
provision that enabled them to get it into Bitcoin,&#8221; Smith said, adding that 
&#8220;we&#8217;re making it too easy for them as an industry.&#8221;
Smith also noted that even after firms flagged the funds as stolen, users 
continued to trade them through decentralized platforms. &#8220;Why was there so 
much liquidity available to help launder this money?&#8221; he said, arguing that 
those providing liquidity to such protocols should be subject to basic checks 
on the source and destination of funds. &#8220;Go and look at who&#8217;s making money. 
And that&#8217;s the first place to start putting some controls.&#8221;
_**Magazine: Lazarus Group &#8216;s favorite exploit revealed &#8212; Crypto hacks 
analysis**_

‘Huge Shift’ in crypto firms’ compliance mindset, says Elliptic co-founder

A Federal Reserve survey naming the trade war and U.S. debt as the economy’s 
top threats has prompted veteran investor Clem Chambers to warn of an 
overlooked supply-chain squeeze that could jolt markets. Inflation Time Bomb: 
Fed Printing Could Send Prices Soaring, Says Chambers Chambers, chief 
executive of Online Blockchain, told Kitco News Anchor Jeremy […]