24H Hot Coins & Headlines | Polymarket Launches Perpetual Contract Beta; Standard Chartered Maintains Long-Term Bullish View on ETH (May 29)
- Core Viewpoint: This article summarizes the performance of popular coins on CEXs and on-chain, Polymarket's expansion into derivatives, Standard Chartered's bullish long-term outlook for ETH, the U.S. Treasury Secretary's exclusion of CBDC, and comments from multiple industry insiders on capital market divergence and cycle adjustments.
- Key Elements:
- Among popular CEX coins, XLM and ALLO led the gains, rising by 19.53% and 73.74% respectively; TRX and SUI were among the top decliners, at -4.29% and -2.93% respectively.
- Prediction market platform Polymarket has launched a perpetual contract Beta version, planning a phased rollout over the next four weeks, marking its expansion from prediction markets into the crypto derivatives trading space.
- Standard Chartered maintains a long-term bullish view on ETH, comparing its trajectory to Amazon post-2001, and forecasting a price of $4,000 by the end of 2026 and $40,000 by 2030.
- U.S. Treasury Secretary Bessent explicitly stated there "will be no central bank digital currency," ruling it out of consideration; meanwhile, Spain temporarily blocked Polymarket and Kalshi for lacking gambling licenses.
- Grayscale submitted an amended filing for the Hyperliquid ETF, proposing to inject approximately 2 million HYPE (around $113 million) as seed capital, indicating institutional interest in the asset.
- Arthur Hayes noted that currently only AI stocks and a few cryptocurrencies are rising in global markets, attributing this to AI giants consuming credit and governments prioritizing AI support, which weakens other sectors.
- VanEck's CEO holds a long-term bullish view on Bitcoin but warns that 2026 will be a correction year in the halving cycle, and currently lacks catalysts for a significant price surge.
1. Popular CEX Tokens
Top 10 CEX Trading Volume and 24-hour Change:
- BTC: - 0.94%
- ETH: - 0.55%
- SOL: - 0.31%
- XRP: + 0.64%
- XLM: + 19.53%
- BNB: - 1.45%
- TRX: - 4.29%
- ZEC: + 3.41%
- DOGE: - 0.84%
- SUI: - 2.93%
24-hour Gainers List (Data Source: OKX):
- ALLO: + 73.74%
- XLM: + 19.53%
- DEGEN: + 18.87%
- XPL: + 13.53%
- BAT: + 13.48%
- ALGO: + 10.99%
- OMI: + 10.03%
- IOTA: + 8.29%
- SRHARA: + 7.85%
- HYPE: + 7.08%
24-hour Crypto-Stock Gainers List (Data Source: msx.com):
- UMAC.M: + 73.61%
- DELL.M: + 44.43%
- SNOW.M: + 37.49%
- AVEX.M: + 32.20%
- ONDS.M: + 26.30%
- BRUN.M: + 23.89%
- SWMR.M: + 23.29%
- AVAV.M: + 22.94%
- KTOS.M: + 20.42%
- MX.M: + 19.83%
2. Popular On-Chain Memes (Data Source: GMGN):
- Solana: 250, PAYNE
- BNB: Guangyuan, Laidulaile (Guang Yuan, Lai Dou Lai Le)
Headlines
Polymarket Launches Perpetual Contract Beta, Will Gradually Expand Access Over Next 4 Weeks
Prediction market platform Polymarket disclosed that the Beta version of its perpetual contract product has opened for testing to some users and will gradually expand access over the next four weeks.
Analysts believe this launch indicates Polymarket is expanding from prediction markets into the crypto derivatives trading space, continuously broadening the platform's trading scenarios and user reach. The official announcement did not disclose specific trading pairs or functional details supported by the perpetual contract product.
Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered Bank, stated that Ethereum's current trajectory resembles Amazon's path after the bursting of the internet bubble in 2001. The price decline does not signify fundamental deterioration but rather suggests a potential "mispricing between stock price and intrinsic metrics."
Kendrick cited Amazon founder Jeff Bezos's view that market prices and company fundamentals can diverge for long periods but will eventually return to a value track. Although Ethereum's current price is down approximately 57% from its 2025 highs, core indicators like on-chain transaction volume and Total Value Locked (TVL) remain near historical highs. Therefore, Standard Chartered maintains a long-term bullish view on ETH, predicting the price could reach $4,000 by the end of 2026 and $40,000 by 2030.
US Vice President Vance: US and Iran Have Not Yet Reached an Agreement, But Are Close to the Goal
US Vice President Vance told reporters that the US and Iran have not yet reached an agreement, but both sides are close to the goal. The US currently has the capability to significantly delay Iran's nuclear program. Earlier, sources said the US and Iran reached an agreement on Thursday to extend the ceasefire and lift shipping restrictions in the Strait of Hormuz, pending approval from US President Donald Trump.
Vance stated that several sticking points remain in the negotiations with Iran, involving its enriched uranium stockpile and enrichment activities. The two sides are repeatedly negotiating specific wording details, and the signing time and whether a Memorandum of Understanding will be signed remain uncertain.
Industry Highlights
US Treasury Secretary: No Central Bank Digital Currency Will Exist; It Has Been Ruled Out
Bitcoin News posted on X platform that US Treasury Secretary Bessent said, "There will be no central bank digital currency; we have ruled it out."
Bloomberg ETF analyst James Seyffart posted on X platform that Grayscale has submitted the fourth amended filing for the Hyperliquid ETF, moving closer to an official launch, though fee information has not yet been disclosed. The latest amendment shows that Hyper Holdings Global LP plans to provide approximately 2 million HYPE tokens as seed capital investment, valued at roughly $113 million at current prices.
United Texas Bank announced it has received approval from the Office of the Comptroller of the Currency (OCC) to convert its state bank charter to a national bank charter. This allows direct access to the Federal Reserve payment systems (ACH and Wire) while maintaining FDIC insurance coverage, thereby providing more stable US dollar banking channels for crypto exchanges, OTC trading desks, and stablecoin-related businesses, addressing dollar settlement and liquidity issues in the crypto market.
US SEC Commissioner Hester Peirce stated during a speech at the "Regulatory PETshop" series event that Privacy-Enhancing Technologies (PETs) are crucial for the digital finance era, and regulators should not base the direction of technological development on expanding surveillance infrastructure.
Spain Temporarily Blocks Polymarket and Kalshi; Investigation Could Last Several Months
The General Directorate for the Regulation of Gambling (DGOJ), under the Spanish Ministry of Consumer Affairs, has ordered internet service providers to temporarily block prediction market platforms Polymarket and Kalshi.
Regulators believe that without a Spanish gambling license, the two platforms offer products based on predicting future event outcomes to local users, potentially violating local gambling laws. Spanish authorities stated that unlicensed platforms lack necessary consumer protection measures such as identity verification, minor protection, and self-exclusion mechanisms.
Project Updates
Sui Mainnet Activity Restored After Outage Due to Crash Bug in Version 1.72 Gas Fee Logic
Sui mainnet activity has been restored after the network experienced an outage caused by a crash bug in the gas fee logic introduced in version 1.72.
Morpho posted on X platform announcing the release of the Morpho Midnight whitepaper and the launch of a new non-custodial protocol specifically designed for fixed-rate, fixed-term credit markets. The complete Midnight codebase has been open-sourced and is directly accessible to developers via GitHub.
YZi Labs Launches Creator Network, Creator Program
YZi Labs announced the launch of the YZi Labs Creator Program, a creator network covering Web3, AI, and frontier technology fields. Selected creators will gain direct access to the distribution resources of YZi Labs' over 300 portfolio companies, connecting content with projects.
edgeX V2 has officially launched. This V2 version is a comprehensive reconstruction based on the EDGE Chain, featuring systematic upgrades in security, performance, transparency, and scalability. On the product level, edgeX V2 supports 7x24 hour trading for multiple derivatives including US stocks, Korean stocks, and commodities. To date, the platform has listed 40 trading pairs for stocks and commodities, and has added new features such as an isolated margin mode and advanced trading functions like TWAP.
Fundraising
Hypernova Completes $3 Million Pre-Seed Funding Round Led by Lemniscap
Hypernova announced the completion of a $3 million pre-seed funding round, led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, Pivot Global, and several Hyperliquid ecosystem angel investors.
AI infrastructure company Modiqo announced the completion of a $3 million Pre-Seed funding round, co-led by Heavybit and Seligman Ventures, with participation from Irregular Expressions and several angel investors. Modiqo aims to solve the core problems of AI Agents in production environments: "instability, difficulty in reproduction, and high cost." The company points out that current AI systems perform well on the first run but are prone to failure during model updates or API changes, forcing enterprises to continuously rebuild workflows, leading to cost and efficiency issues.
AI financial data infrastructure company Daloopa announced the completion of a $47 million Series C funding round, led by Brighton Park Capital, with participation from Squarepoint Capital, Touring Capital, and Nexus Venture Partners. The proceeds will be used to accelerate platform expansion and grow the engineering, product, and marketing teams.
People & Voices
Speaking on a podcast on May 22, Arthur Hayes stated that currently, only AI stocks are rising in global capital markets, while other sectors are broadly weakening. Hayes attributed this to shrinking demand due to consumer unemployment, AI giants consuming globally available credit, and governments prioritizing AI capital expenditure, compressing financing space for other industries. He added that this is not a broad bull market; only a few tokens are strengthening in the crypto market, making it a difficult time for most people.
Liquid Capital founder Yi Lihua posted on X platform, stating that in the previous cycle he "got eight moves right and one wrong," but the single mistake was costly, though the losses were primarily a pullback of previous profits. He mentioned that after the current bounce ends, he will fully prepare to bottom fish for the next market trend, while dedicating more than half of his time and energy to AI stocks and AI investment research, adding, "Optimists always choose to believe in trends; only belief prevents panic over crypto lows and AI highs."
VanEck CEO: Long-Term Bullish on Bitcoin, But Warns 2026 is a Correction Year in the Halving Cycle
VanEck CEO Jan Van Eck stated that he remains long-term bullish on Bitcoin, but historically, years like 2026 within the four-year halving cycle tend to be down years. He noted that institutional adoption remains largely unchanged, and there is currently a lack of catalysts to drive a significant rally in Bitcoin.
