BitMart launches NKN (NKN)

According to PRO data, Binance BTC's major players have balanced their positions and completed two huge orders with a total amount exceeding 44 million US dollars, totaling 96.53 million US dollars, with an average selling price of $104091. At present, the BTC 45 minute cycle price is returning to the EMA52 moving average, and there is a commission order worth $46.22 million that is less than 0.4% away from the current price. The short-term direction may change, and the specific main betting point can be obtained by setting the "Main Large Order Tracking" indicator. The data is for reference only and does not constitute any investment advice!

On May 16th, according to CoinDesk, Sui Chung, CEO of cryptocurrency index provider CF Benchmarks, stated in an interview that "the recent rise in Ethereum is mainly due to short covering - traders releasing bearish positions - rather than strong long beliefs in the market In the process of short covering, short sellers will repurchase the futures contracts they previously sold. This operation will increase market demand in the short term, thereby putting upward pressure on prices. Chung pointed out that the premium (also known as basis) of CME Bitcoin futures is still at a relatively low level, which indicates that this round of rise is mainly driven by short covering. Chung added, "In more typical market situations, if traders start using leverage to establish new long positions, we usually see an increase in basis levels. This phenomenon reminds us that not all upward trends are driven by new demand, and sometimes only reflect position adjustments and risk reduction

Coinbase shares dropped 7% after disclosing a cyberattack and a resurfaced SEC probe on old user metrics.

Odaily Planet Daily News: Sui Chung, CEO of CF Benchmarks, stated that the recent price increase of Ethereum is mainly driven by short covering, rather than new long funds entering the market. He pointed out that the CME Ethereum futures premium is still at a low level, and there has been no significant inflow of funds into US listed spot Ethereum ETFs, indicating that the current rise is more due to traders closing short positions rather than the active layout of institutional investors. （CoinDesk）

Odaily Planet Daily News: DeFiLlama's data shows that Coinshift's yield based stablecoin clUSDL has exceeded $100 million in total locked value (TVL) just four months after its launch in January this year, indicating a growing demand for fiat linked assets that provide passive income through decentralized financial protocols. ClUSDL is based on Ethereum, which earns income through online lending and US treasury bond bond exposure and is built on USDL, a stable currency issued by Paxos International and supervised by Abu Dhabi. （The Block）