24H Hot Tokens & Headlines｜Polymarket Launches Perpetual Contract Beta; Standard Chartered Maintains Long-term Bullish View on ETH (May 29)
- Core Insight: This article summarizes the market trends of popular tokens on CEX 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 several industry figures on capital market divergence and cyclical adjustments.
- Key Elements:
- Among popular tokens on CEX, XLM and ALLO led the gains, rising 19.53% and 73.74% respectively; TRX and SUI were among the top decliners, falling -4.29% and -2.93% respectively.
- Prediction market platform Polymarket has launched the Beta version of its perpetual contract, planning a gradual 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, with a price target of $4,000 by end of 2026 and $40,000 by 2030.
- U.S. Treasury Secretary Bessent clearly stated there "will be no central bank digital currency," ruling it out of consideration; Spain has temporarily blocked Polymarket and Kalshi for lacking gambling licenses.
- Grayscale has submitted a revised filing for the Hyperliquid ETF, proposing to introduce approximately 2 million HYPE (about $113 million) as seed capital, indicating institutional interest in the asset.
- Arthur Hayes noted that currently, only AI stocks and a few crypto tokens are rising in global markets, attributing this to AI giants consuming credit and government policies prioritizing AI support, which weakens other sectors.
- VanEck CEO is bullish on Bitcoin long-term, but warns that 2026 will be a correction year in the halving cycle, with a lack of catalysts for significant price appreciation in the near term.
1. Popular Tokens on CEX
CEX Top 10 by Trading Volume & 24h 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%
24h Gainers (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%
24h Tokenized Stock Gainers (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. Trending On-Chain Memes (Data Source: GMGN):
- Solana: 250, PAYNE
- BNB: LightSource, ComeOneComeAll
Top News
Prediction market platform Polymarket has disclosed that the Beta version of its perpetual contract product has been opened to select users for testing and will gradually expand access over the next four weeks.
Analysts believe this move 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 team has not yet disclosed the specific trading pairs or functional details supported by the perpetual contract product.
Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, stated that Ethereum's current trajectory resembles Amazon's path after the 2001 dot-com bubble burst. The price decline does not necessarily reflect a deterioration in fundamentals; instead, there may be a "mispricing between share price and intrinsic indicators."
Kendrick cited Amazon founder Jeff Bezos' view that market prices can diverge from company fundamentals for extended periods but will eventually return to the value track. Although Ethereum's current price is approximately 57% lower than its 2025 high, core metrics like on-chain transaction volume and Total Value Locked (TVL) remain near historical highs. Therefore, Standard Chartered maintains a long-term bullish outlook on ETH, projecting the price could reach $4,000 by the end of 2026 and $40,000 by 2030.
US Vice President Vance: No Deal Yet Between US and Iran, But Close to Goal
US Vice President Vance told reporters that the US and Iran have not yet reached a deal but are close to the goal. The US currently has the ability 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 final approval from US President Donald Trump.
Vance indicated that several sticking points remain in negotiations with Iran, regarding the country's enriched uranium stockpile and enrichment activities. The two sides are engaged in repeated consultations over specific wording details, and it remains uncertain whether or when the memorandum of understanding will be signed.
Industry Highlights
US Treasury Secretary: No Central Bank Digital Currency, It Has Been Ruled Out
Bitcoin News posted on X that US Treasury Secretary Scott Bessent stated, "There will be no central bank digital currency. We have ruled it out of consideration."
Grayscale Files Amended Filing for Hyperliquid ETF, Plans to Seed with ~2 Million HYPE
Bloomberg ETF analyst James Seyffart posted on X that Grayscale has filed a fourth amended filing for the Hyperliquid ETF, moving closer to an official launch. Fee information has still not been disclosed. The latest amendment shows that Hyper Holdings Global LP plans to contribute approximately 2 million HYPE tokens as seed capital investment, valued at around $113 million at current prices.
United Texas Bank has announced it received approval from the US Office of the Comptroller of the Currency (OCC) to convert its state banking license to a national bank license. This allows direct access to the Federal Reserve payment systems (ACH and Wire) while maintaining FDIC insurance coverage. This move aims to provide crypto exchanges, OTC desks, and stablecoin-related businesses with a more stable US dollar banking channel, addressing dollar settlement and liquidity issues in the crypto market.
In a speech during the "Regulatory PETshop" event series, US SEC Commissioner Hester Peirce stated 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 Months
The Directorate General for Gambling Regulation (DGOJ), under Spain's Ministry of Consumer Affairs, has ordered internet service providers to temporarily block prediction market platforms Polymarket and Kalshi.
Regulators believe the two platforms offer prediction trading products based on future event outcomes to local users without obtaining a Spanish gambling license, potentially violating local gambling laws. Spain 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. The network experienced an outage earlier due to a crash bug in the gas fee logic introduced in version 1.72.
Morpho Releases Midnight Whitepaper, Launches Non-Custodial Protocol for Fixed-Rate Term Credit
Morpho announced on X 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 also been open-sourced and is directly accessible to developers via GitHub.
YZi Labs Launches Creator Network Program
YZi Labs announced the launch of the YZi Labs Creator Program, a creator network covering Web3, AI, and cutting-edge technology fields. Selected creators will gain direct access to distribution resources from YZi Labs' portfolio of over 300 companies, enabling the connection between content and 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. In terms of products, edgeX V2 now supports 7x24 trading for multiple derivatives including US stocks, Korean stocks, and commodities. To date, the platform has listed 40 trading pairs including stocks and commodities, and has added new features such as an isolated margin mode and TWAP order type.
Funding News
Hypernova Raises $3 Million in Pre-Seed 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 Raises $3 Million in Pre-Seed Funding Co-Led by Heavybit
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 being "unstable, hard to reproduce, and costly." The company points out that current AI systems perform well on first run but easily fail in situations like 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 go-to-market teams.
People & Voices
Arthur Hayes: Only AI Stocks Are Rising in Global Capital Markets, Only a Few Cryptos Are Strong
Arthur Hayes stated on a podcast on May 22 that currently, only AI stocks are rising in global capital markets, while other sectors are generally weakening. Hayes attributed this to factors including shrinking demand from consumer unemployment, AI giants consuming globally available credit, and governments prioritizing AI capital expenditure as the highest priority, squeezing financing space for other industries. Hayes added that this is not a broad bull market, and only a few cryptocurrencies are strengthening, making it a tough time for most people.
Liquid Capital founder Yi Lihua posted on X that in the last cycle, he "got eight moves right and one wrong," but the single mistake came at a significant cost, although the related losses were mainly a pullback of previous profits. Yi Lihua said that after the current bounce ends, he will fully prepare to buy the bottom for the next rally, while committing more than half of his time and energy to AI stocks and AI investment research, adding that "optimists always choose to believe in trends; only by believing can one not 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 noted that 2026 has historically been a down year in the four-year halving cycle. He said institutional adoption patterns have largely remained unchanged, and there is currently a lack of catalysts to drive a significant rally in Bitcoin.
