Arm Surges Over 10%, Market Cap Breaks $300 Billion

May 21 — Per Ashes Monitor, the largest HYPE short contract tied to the entity behind oracle.hl is not a naked short. The short position serves as a hedge for the 2.1 million HYPE tokens (worth roughly $127 million) that the trader holds. However, after HYPE hit a new all-time high, the trader has also begun selling his spot HYPE holdings. Twenty minutes ago, he transferred 557,000 HYPE tokens (valued at about $33.5 million) from the HyperEVM chain to Hyperliquid and is currently selling those tokens. He still holds approximately 1.667 million HYPE tokens (worth around $105 million) on the HyperEVM chain.

May 21 — Per market sources, the United States has issued a license allowing a major shipbreaking buyer to purchase four vessels that were previously sanctioned for carrying goods tied to Iran. This move could provide a legal way out for some vessels in the “shadow fleet” that Iran and Russia use to transport sanctioned cargo — a fleet that has expanded under Western sanctions. These Iran-associated vessels will be dismantled for recycling. U.S. officials noted this case-by-case licensing approach may be deployed more broadly to help clear high-risk ships from global waters.

Virl.fun ($VIRL) is now ranked No. 1 in the 24-hour trend on Binance Wallet. A smart trader who made $160.9K on $PENGUIN spent $4.8K to buy 840K $VIRL 2 hours ago.

May 21: This could be a real dilemma for Ethereum (ETH) diehard holders. David Hoffman—co-founder of Bankless and a long-time Ethereum ecosystem advocate who’s lived through two full bull-bear cycles—just announced he’s liquidated his entire ETH holdings. Meanwhile, unlike counter-trend gains from coins like HYPE and ZEC, ETH’s still stuck treading water: it’s not rallying with the broader bull market, and instead crashing sharply during this bear run. To add fuel to the fire, multiple long-time ETH OGs have liquidated all their holdings this cycle. The Ethereum community’s also been split over governance models and development priorities, while the Ethereum Foundation keeps selling off assets—none of the funds it’s allocated have yet spawned any standout projects. This 11-year-old ETH is clearly facing a "midlife crisis." Amid this wave of so-called "betrayal and alienation," there’s a bright spot: Tom Lee and his "buddy" are turning out to be the market’s last standing, most loyal

On May 21, Solmate Infrastructure, a Nasdaq-listed Solana treasury company, announced a registered direct offering of 2,298,000 shares of its Class B common stock at $4.97 per share. The company expects to raise roughly $11.4 million from the offering, which is projected to close around May 27, 2026, pending customary closing conditions.

May 21: U.S. Senator Cynthia Lummis of Wyoming shared a public post stating, “No rules means no harm, it means no recourse.” She also doubled down on her multi-year push for the Clarity Act, emphasizing that the legislation would establish a clear regulatory framework for the development of digital assets across the United States.