SOL Strategies, a Canadian publicly traded company focused on supporting the Solana blockchain ecosystem, has expanded its holdings with a new $20 million Solana purchase. The Canada-listed company announced the move on Tuesday, May 6, disclosing the completion of the…

Canada-listed SOL Strategies buys more Solana

Ethereum is under pressure after failing to break above the $1,874 high set on 
May 1st, a level that now acts as stiff resistance. As the broader crypto 
market begins to heat up, Ethereum remains stuck in a tight range, lacking the 
momentum to confirm a breakout. Currently trading just above $1,800, ETH sits 
at a critical level where bulls must step in to defend the structure and push 
the price higher. Related Reading: Avalanche Bounces Off Key Price Level: Top 
Indicator Flashes A Buy Signal Despite several attempts, Ethereum has been 
unable to establish a clear direction, and market participants are growing 
cautious. The asset is still down over 55% from its December highs, reflecting 
a prolonged period of weakness relative to other major cryptocurrencies. 
Without a strong push through resistance, Ethereum risks falling further 
behind. Top crypto investor Michael Van de Poppe recently shared a technical 
analysis suggesting that Ethereum is still in an accumulation phase. According 
to Van de Poppe, ETH shows signs of strength and accumulation against BTC in 
the background, but needs confirmation through a decisive breakout above 
current levels. Until then, Ethereum remains range-bound and vulnerable to 
volatility. With market sentiment shifting and major moves looming, the coming 
days will be crucial for ETH’s short-term outlook. Ethereum Accumulation: 
ETH/BTC Chart Hints At Imminent Move Ethereum continues to struggle below the 
$2,000 mark, failing to reclaim key resistance levels despite broader market 
activity heating up. While ETH/USD remains directionless and still trades over 
55% below its December highs, a closer look at the ETH/BTC chart reveals 
something more constructive brewing beneath the surface. Van de Poppe recently 
shared an analysis highlighting a clear accumulation structure forming in the 
ETH/BTC pair. After months of consistent downside, the chart shows Ethereum 
breaking out of a falling wedge and consolidating in a tight range just below 
critical resistance at 0.0195 BTC. According to Van de Poppe, this is a 
classic accumulation pattern, signaling that Ethereum may be preparing for a 
significant breakout relative to Bitcoin. The chart also highlights a key 
demand zone around 0.0184 BTC—an area ETH has repeatedly held. As long as this 
level holds, Van de Poppe believes Ethereum could continue to grind higher and 
eventually take out liquidity above resistance. A successful breakout could 
mark the start of Ethereum outperforming Bitcoin, a trend often seen during 
the altcoin expansion phase of a bull market. However, risks remain. The 
broader market is still heavily influenced by macroeconomic uncertainty, 
particularly surrounding U.S.-China tensions. For now, Ethereum’s upside case 
depends on holding current support and clearing the 0.0195 BTC resistance. If 
successful, this accumulation may become the base for a strong rally. Related 
Reading: Ethereum Breaks Massive Downtrend Price Structure – Momentum Shift? 
ETH Price Consolidates In A Tight Range Ethereum is currently trading at 
$1,795.79 after a slight rejection from the $1,874 local high reached on May 
1st. The daily chart shows ETH consolidating in a tight range following its 
rebound from April’s lows near $1,500. However, despite this stabilization, 
ETH remains well below both the 200-day simple moving average (SMA) at 
$2,709.54 and the 200-day exponential moving average (EMA) at 
$2,437.55—indicating that the broader trend is still bearish. While bulls have 
managed to prevent further downside, Ethereum has yet to break out of its 
long-term downtrend. The failure to reclaim $2,000 as support continues to cap 
bullish momentum, and volume has remained modest during recent price action, 
showing a lack of conviction from both buyers and sellers. The structure 
currently favors accumulation, but ETH must decisively clear the $1,875–$2,000 
resistance area to shift sentiment and validate a trend reversal. If it fails 
to do so, the risk of a renewed pullback toward the $1,650–$1,700 support zone 
increases. Related Reading: Cardano Consolidates In Symmetrical Triangle – 
Analyst Sets Bull/Bear Price Targets Overall, Ethereum is at a pivotal stage. 
The longer it consolidates below major moving averages, the more likely the 
market remains cautious. A breakout above $2,000 could trigger renewed upside 
and signal broader market strength. Featured image from Dall-E, chart from 
TradingView

Ethereum Consolidates As Accumulation Trend Develops – New Bullish Phase Ahead?

The US Commodity Futures Trading Commission (CFTC) is seeking permission from 
the court to drop an appeal against prediction market Kalshi. The move could 
allow the platform to offer political event contracts to users without 
contest.
In a May 5 filing in the US Court of Appeals for the District of Columbia 
Circuit, lawyers for the CFTC filed an unopposed motion for voluntary 
dismissal, suggesting an agreement with Kalshi. The motion, subject to 
approval by the court, could end the CFTC&#8217;s appeal against a federal court 
ruling that the financial regulator could not bar Kalshi from listing 
political event contracts, i.e., bets on elections.
_Motion to dismiss appeal filed by the CFTC on May 5. Source:__Courtlistener_
Kalshi stipulated in a joint filing that the company would &#8220;bear its own 
costs, court fees and attorney fees incurred&#8221; if the court granted the CFTC&#8217;s 
motion to dismiss. The platform said that &#8220;election markets are here to stay&#8221; 
in a May 6 X post following the filing.
The betting platform initially filed a lawsuit against the CFTC in 2023 in 
response to the regulator ordering Kalshi to stop offering political event 
contracts. The company won in the lower court, prompting the appeal by the 
CFTC in September 2024.
## Motion to drop the appeal after the change in administration?
The case was handled mainly before the US election and the appointment of 
acting CFTC chair Caroline Pham under President Donald Trump. CFTC 
Commissioner Summer Mersinger, nominated by former President Joe Biden, 
reportedly echoed Kalshi&#8217;s sentiment in February, claiming that election 
prediction markets were &#8220;here to stay.&#8221;
_**Related:**__**Kalshi accepts Bitcoin deposits in bid to woo crypto-native 
users**_
Launched in 2021, Kalshi became popular among many crypto users in part due to 
bets related to the 2024 US election. Though the CFTC argued in its appeal 
that betting on the elections could result in &#8220;spectacular manipulation&#8221; of 
markets and harm to the public interest, the regulator under Pham and Trump 
appeared to have reversed its position with the motion to dismiss.
_**Magazine:**__**Pok emon on Sui rumors, Polymarket bets on Filipino Pope: 
Asia Express**_

US regulator moves to drop appeal against Kalshi

Antalpha Platform Holding has launched the roadshow for its upcoming initial 
public offering, planning to offer 3,850,000 ordinary shares at an expected 
price range of $11.00 to $13.00 per share. IPO Filed With SEC Antalpha 
Platform Holding has announced the commencement of the roadshow for its 
proposed initial public offering (IPO). The company, which is […]

Bitmain Lending Partner Antalpha Launches Nasdaq IPO Roadshow

Tether, the issuer of the world&#8217;s largest stablecoin by market cap USDt 
(USDT), has announced a partnership with Chainalysis that will integrate the 
company&#8217;s compliance and monitoring tools onto Tether&#8217;s tokenization platform. 
The move comes amid expanding oversight across the crypto industry.
Launched in November 2024, the Hadron by Tether platform is designed for 
institutions, corporations and governments, entities that may be interested in 
tokenizing real-world assets ranging from financial instruments and real 
estate to debt and commodities.
The months following the launch have seen increased adoption of real-world 
asset (RWA) tokenization. According to RWA.xyz, the total RWA market amounts 
to $22.1 billion, up 10.5% in the past 30 days. There are a total of 100,115 
holders of RWA tokens, up 5.6% in the same time frame.
&#8220;By integrating Chainalysis directly into the platform, we&#8217;re offering 
institutional-grade transparency, compliance, and risk mitigation without 
compromising on decentralization or control,&#8221; Tether CEO Paolo Ardoino said in 
a statement.
According to the announcement, Hadron by Tether users will now have risk 
detection, real-time transaction monitoring, and Know-Your-Transaction (KYT) 
support. Terms of the deal were not disclosed. Tether raked in $13 billion in 
profits in 2024, and posted $1 billion in operating profit for Q1 2025.
_**Related:**__**What is Hadron? Exploring Tether &#8216;s asset tokenization 
platform**_
## Chainalysis acquisitions and predictions
Chainalysis, a blockchain data platform, is known for its security tools and 
real-time monitoring. Among its partners include exchanges Crypto.com and 
Bitfinex, payment processor MoonPay, and bank BBVA.
Chainalysis has recently beefed up its technology stack, acquiring Web3 
security firm Hexagate in December 2024 and Alterya, an AI fraud detection 
startup, in January this year. The company, founded in 2014, predicted that 
2025 would be the biggest year ever for crypto scams due to the rise of 
artificial intelligence.
_**Magazine: Lazarus Group &#8216;s favorite exploit revealed &#8212; Crypto hacks 
analysis**_

Tether adds Chainalysis tokenization platform for compliance, monitoring

Crypto analyst Tolimanu has used the Elliott Wave Theory to provide insights 
into where Bitcoin currently is in this market cycle. Based on his analysis, 
the bull run is not yet over, with the flagship crypto set to reach new highs. 
Elliot Wave Theory Shows Bitcoin’s Current Position In This Cycle In an X 
post, Tolimanu noted that in Elliot Wave Theory, a 5-wave move up typically 
marks a primary trend, and an ‘ABC’ correction is a natural retracement of 
that trend. Based on this, he stated that unless this Bitcoin correction 
breaks major long-term support levels, such a decline would typically set up 
the next higher-degree bullish phase. Related Reading: LMACD Indicator Reveals 
Where The Bitcoin Price Is After Rejection From $97,000 On the bearish side, 
his accompanying chart showed that Bitcoin could still correct to as low as 
$73,969 on wave C of the ABC correction. However, as the analyst suggested, a 
hold above this support level could send BTC to new highs. Technical expert 
Tony Severino also recently warned that the Bitcoin price is in a precarious 
position. Despite the recent surge, he suggested that BTC is still in a 
bearish position. The expert remarked that if the daily momentum crosses 
bearish, it could prevent the weekly bullish crossover and pull the weekly 
LMACD below zero. In another post, Severino noted that Bitcoin’s daily RSI 
failed to get above 70, which is a key trigger required for a bullish impulse. 
He remarked that failure at 70 the last time led to the most vicious leg down 
of the last bear market. He added that the entire bear market remained below 
70. The technical expert also noted that in 2023, the two local tops did make 
it above 70, but it wasn’t convincing enough, while in 2024, the entire 
corrective phase stayed below 70 on the RSI. Basically, Severino highlighted 
the importance of 70 on the RSI and how BTC is still in a bearish position. 
BTC Looking To Fill CME Gaps Below And Above Crypto analyst Titan of Crypto 
revealed that Bitcoin is looking to CME futures gaps below and above its 
current price. The upside gap is between $96,480 and $97,300, while the 
downside gap is between $91,990 and $93,400. In another post, the analyst 
suggested that BTC might fill the downside gap before moving to the upside 
targets. Related Reading: Bitcoin Price Confirmed Local Bottom As All 
Indicators Flash Bullish, Where’s Price Headed? This came as he noted that the 
next key support for Bitcoin is the daily Fair Value Gap, which is around 
$90,000. The analyst added that a bounce from that zone is likely. His 
accompanying chart showed that the target on this bounce is $102,096. At the 
time of writing, the Bitcoin price is trading at around $94,300, down in the 
last 24 hours, according to data from CoinMarketCap. Featured image from 
Unsplash, chart from Tradingview.com