A whale deposited 49,858 SOL to Kraken in the early morning, resulting in a loss of $3.11 million.

On May 16th, the Wormhole Foundation made an announcement. Arian Motamenzadeh has now officially joined the Foundation as the new Executive Director. His main focus will be on protocol fee conversion and related protocol revenue. Additionally, he will be working to drive the adoption of Wormhole on the institutional side. Arian Motamenzadeh has more than a decade of experience in leading startups. He is skilled in formulating market entry strategies and expanding profit scales. He has led companies such as DoorDash and EasyPark from their initial stages to achieving an annual recurring revenue (ARR) of over $350 million. Through his leadership, these companies have achieved multi-billion-dollar initial public offerings (IPOs) and successful exits.

On May 16th, Sentora (formerly known as IntoTheBlock) released a post indicating that due to a notable surge in on-chain activities, Ethereum's total fees have increased by 160% this week.

On May 16th, Coindesk analyst Omkar Godbole pointed out that Bitcoin order book data indicates that longs are facing a resistance challenge of $120 million as they try to continue the classic "stair-step" uptrend (that is, a periodic controlled rise). Since April 9th, with the easing of trade tensions and major market participants starting to allocate funds, the Bitcoin price has risen from around $75,000 to $104,000, representing a gain of approximately 38%. In order to further drive the Bitcoin price into the next upward trend leg, longs need to absorb a large amount of selling pressure, especially around $105,000, which constitutes a key resistance area. According to the data platform Kiyotaka.ai, nearly $50 million in sell orders are currently placed at $104,800 across multiple major exchanges, and the selling pressure reaches as high as $70 million at $105,000. Charts show a significant accumulation in the higher price range on the order book, suggesting that profit-taking may o

On May 16th, the new TGE (Alaya AI) subscription of Binance Wallet has come to an end and is now available for claiming.

On May 16th, based on official information, Binance Alpha has launched Alaya AI (AGT).

On May 16th, based on Coinglass data, if Bitcoin drops below $102,000, the cumulative intensity of long liquidation on mainstream CEXs will reach $1.148 billion. Conversely, if Bitcoin rises above $105,000, the cumulative intensity of short liquidation on mainstream CEXs will reach $0.821 billion. BlockBeats Note: The liquidation chart does not disclose the exact number of contracts awaiting liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent liquidation clusters, that is, intensity. Therefore, the liquidation chart shows to what extent reaching a certain price level will affect the market. Higher "liquidation bars" indicate that when the price reaches that level, it will trigger a more significant reaction due to a liquidity cascade.