While rumors about the insolvency of the Bybit crypto platform were spreading online, many significant events took place in the crypto community. New hacks to watch out for, technologies to watch out for, and events to attend. What else is interesting? Read on to find out.
A Series of Hacks of Celebrity Accounts in X
Over the weekend, a series of massive hacks of accounts on X took place. The victims were several influential industry figures and celebrities who promoted everything from Luna2 and ORDI to meme coins inspired by famous personalities.
Among the latest victims is a crypto investor going by the pseudonym Gigantic-Cassocked-Rebirth, known as GCR. He confirmed that his profile had been hacked. His account was used to publish posts about ORDI and Luna2.0, after which both tokens instantly increased by 6% and 274%.

Source: X
Some have noted that the hacker could have used the account to place a micro-cap, but chose to publish two tokens, resulting in a limited profit.
“GCR hacker fumbled the bag hard. Bro could’ve picked ANY believable micro-cap to pump 10–20x, yet chose to shill ORDI and LUNA2 for a measly 10% wick” said crypto analyst Miles Deutscher.
Another victim was the famous American rapper Rich The Kid. His account posted a link to buy a new $RICH token launched on the Solana meme coin creation tool pump.fun.
DEX Screener data indicates that within the first two hours after launch, the token accumulated a market capitalization of $90,000. The post was later deleted, but the rapper never made any statement about the hack.
A Supercomputer with AI
Billionaire Elon Musk’s company xAI, in cooperation with Oracle, plans to create a computer that will run the next version of the large-scale language model of artificial intelligence Grok.
According to The Information, citing a presentation shown to xAI stakeholders, the project is described as a “gigafactory of computing.” The computer is expected to be ready by the fall of 2025.
During the presentation to investors, Musk said that the new supercomputer will use up to 100,000 Nvidia H100 GPUs based on the Hopper architecture, making it at least four times larger than the largest existing GPU clusters. He also emphasized his commitment to the timely completion of the project.
WhiteBIT is a Partner of Money20/20 Europe
WhiteBIT, one of the largest cryptocurrency exchanges in Europe, is once again a partner of international blockchain events. In particular, this time it has announced its participation in Money20/20 Europe, one of the largest events in the financial technology industry. The event will take place in Amsterdam on 4–6 May, where the exchange will present its innovative solutions and products.
Money20/20 Europe brings together representatives of financial institutions, technology companies, start-ups, regulators and investors. The conference program includes presentations by leading experts, panel discussions, and demonstrations of innovative solutions. More than 350 speakers will take part in the event, including representatives of such major companies as Visa, Mastercard, Lloyds Banking Group, JPMorgan, Amazon, Google, Microsoft, and Ukrainian bank PrivatBank.
The main topics of the event will include the implementation of AI solutions in the industry, current cybersecurity issues, blockchain as a new reality of the fintech industry, personalization in the banking sector, etc.
Volodymyr Nosov, founder and CEO of WhiteBIT, noted: “This is already the third global event this year in which we are participating, following the Paris Blockchain Week Summit and Token2049 Dubai. As one of the largest European crypto exchanges, we must stay at the center of events to continue innovating and offering our clients the best solutions on the market.”
New Ethereum Update
At a recent leadership meeting, Ethereum developers set a date for the Pectra update. They plan to release it by the end of the first quarter of 2025. Previously, the team expected the update to appear in late 2024 or early 2025.
Pectra will introduce the Ethereum Virtual Machine Object Format (EOF), which includes about 11 suggestions for improving the Ethereum Virtual Machine (EVM) in both first- and second-tier solutions. One of the notable additions to Pectra is EIP-7251, otherwise known as “increase maximum active balance.” With this proposal, individual validators will be able to deposit more than the current maximum of 32 ETH, increasing the limit to 2,048 ETH.
Along with the new improvements, Ethereum developers have decided to replace the EIP-3074 account abstraction proposal with EIP-7702, a new initiative introduced by Ethereum co-founder Vitalik Buterin. EIP-7702 introduces a new type of transaction that allows Ethereum account addresses to temporarily act as smart contract wallets during a transaction and then return to their original state.
Aptos Reaches Record Transaction Volume
Aptos, a first-tier blockchain platform, has reached a new high in terms of the number of transactions. In one day, May 25, it recorded 115.4 million transactions, surpassing Solana’s 31.7 million.
The transaction volume growth not only set a new standard but also surpassed the previous L1 record of more than 65 million transactions held by Sui Network by a significant margin of more than 50%.
Aptoscan’s data shows that the number of transactions per second (TPS) of blockchain users has also reached a historic high of 32,000. This surge in transaction activity may be due to the launch of Tapos Cat, a new game that has gained rapid popularity. The game processed 10 million transactions on its first day online, which significantly contributed to the growth of activity on the platform.
At first glance, Tapos Cat may seem to have no clear purpose, but Aptos supporters argue that it is an important engineering project that demonstrates the reliability and scalability of the network and paves the way for future developments.
Listing News
BounceBit ($BB ) is a BTC restocking network with an innovative CeDefi framework. Thanks to the CeFi + DeFi framework, BounceBit allows BTC holders to generate income from various sources. The BB token is available for spot trading on Binance, Bybit, and futures on WhiteBIT.
Retik Finance (RETIK) is a DeFi token based on the Ethereum network that complies with the ERC20 standard. RETIK powers the Retik Finance ecosystem, stimulating decentralized transactions and innovative financial solutions. It is traded on UniSwap, MEXC, and BitMart exchanges.
Notcoin ($NOT ) is a community-driven token aimed at engaging users in the Web3 ecosystem through a clickable game. Currently, the coin is available for spot and futures trading on many cryptocurrency exchanges, including Binance, OKX, WhiteBIT, etc.
MON Protocol (MON) is the native coin of the MON Protocol, which serves as the ecosystem token for all Pixelmon games. Mon Protocol unveiled the MON token at the TGE event in early 2024 and also launched a pre-sale program for the community. The coin has recently become available for trading on Bitget, Gate.io, MEXC, and other cryptocurrency exchanges.

The post "Memecoins Taking Centre Stage: How Long Will Rally Prevail?" first appeared on 36crypto.com News.
PEPE, WIF, and #BONK gain momentum as GameStop’s memecoin sends shockwaves to the market. How long will they sustain a green streak? The market capitalization of memecoins has crossed a $55 billion milestone as GameStop Corp is back in action. While the GameStop (GME) price rallied by a strong 75% on Monday, memecoin GME has kicked off by a staggering 2200%, moving top meme-inspired assets into the green zone. 
As per on-chain data provider Santiment, the memecoin market witnessed an attention-grabbing upsurge on May 13, marked by notable breakthroughs. In momentum, trading volumes among the top 50 meme-inspired assets soared by over 34%.

Source: Santiment
The memecoin frenzy even made VanEck, a leading asset manager, enter the market, as has been confirmed by Matthew Sigel, VanEck’s Head of Digital Assets. 
“VanEck’s Market Vector launches MEMECOIN index, top 6 assets, 30% cap,” he noted in his post on X, adding that the index included Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Floki Inu (FLOKI), and Bonk (BONK).
The market’s upturn is believed to be fuelled by GameStop Corp's 74% surge, engaging short-selling hedge funds to face a mark-to-market $838 million loss. The uptick came as a result of an iconic Roaring Kitty media comeback, who used to vouch for investing in the gaming stock back in 2021. 
PEPE, WIF, and FLOKI Taking a Pivot
The outburst brought reflective action to the top memecoins. Since Monday 13, Pepe (PEPE) has been indicating a strong uptrend, reaching the recent local highs. Thus, the explosive rally pushed PEPE into a new all-time high (ATH) of $0.00001146, while the coin’s 65% growth outperformed Bitcoin’s 2% price increase.

Regardless of the latest supercycle, the frog-themed asset has been in a steady recovery through Q2, as indicated by the ascending channel (blue). According to AMBCrypto, the upswing to a new ATH reversed all losses in Q1 and partially in Q2. This means that most holders had unrealized profits and could book the gains. 
While PEPE has seen two price rejections at the range-high of the ascending channel, meaning the profit booking, the memecoin is showing a strong bullish sentiment, opening the door for potential 21% gains. What is more, Coinglass’s Long/Short Ratio data marks PEPE’s sentiment as bullish, as many traders are indicated to be going long on the asset since May 7.

PEPE long/short ratio chart. Source: Coinglass
Still, based on liquidation levels, an unforeseen bearish fluctuation may drap #PEPE by 25% south.  The GME-originated rally also affected the Solana-based Dogwifhat (WIF). While the supercycle secured local breakthroughs of over 15%, WIF has registered a massive surge in on-chain volume, overcoming Sui Network by this criteria. Alongside, the data from Santiment marked a decline in weighted sentiment metric, signifying the growing pessimism about WIF just before the memecoin rally.

Dogwifhat (WIF) weighted sentiment. Source: Santiment
Nevertheless, the global sentiment for WIF remains in the hands of the bears, as per the chart. Thus, since April 1, after hitting the $4.857 level, the price of WIF declined significantly on the charts. Over this period, the price hit multiple lower lows and lower highs, establishing a bearish trend. 
What is crucial, WIF has all chances to bounce back, as can be seen from the Relative Strength Index (RSI) and Chaikin Money Flow (CMF), which both indicated a slight uptick in response to the coin’s 4% daily recovery at the writing time.

If the local recovery keeps up, #WIF may be able to push past the $3,502 resistance level and aim for the $4,382 range soon. While PEPE has been indicating decent progress in the chart, and WIF hinting at one, FLOKI stood out with its 33% rise in momentum. The memecoin is marked not only due to its short-term pump, but an indicative potential for a long term. 
As the price gave a decisive breakout from the neckline resistance of the ascending triangle pattern, this signaled the potential of a higher rally. A look at the 12h chart also reveals that the #FLOKI price developed fresh higher lows signals the buyers attempt to regain control and actively accumulate at dips.

Regardless of the GME-initiated nature of FLOKI's upward movement, it has driven north by 16% as Revolut Business, Europe’s leading neobank, listed the memecoin on its service. 
Ifs and Buts
While the tendency is quickly earning the title of ‘supercycle’, this go-by label does not fully correlate with a factual state of things. Ansem, a reputable memecoin trader, cited the recent recovery to be “an attention thing”.
“I think it’s more of like an attention thing, and like an internet thing, than really like thinking about teams that are building out products,” he said in a recent ‘Unchained’ podcast episode. 
Ansem also stressed the validity of meme coins' prices, drawing a connection between ones and fundamental assets. He added, “Looking at price is valid because anything that people can speculate on whether it’s like stocks, crypto, altcoins, Bitcoin, Ethereum…people can buy the top and lose money. Hence, that’s not specific to memecoins.” 
The controversy between speculative interest and sustainable growth was by a memecoin trader Kelxyz. Within the same polemic, he noted,
“With crypto and the ability to tokenize anything, financialize anything, it makes sense that memecoins would end up capturing a lot of that attentional flow and in turn some of that value as well.” 
Seeing that public opinion gravitates towards the strong memecoins dependence upon the community interest, an X user behind @free_electron0 username summarised that we’re currently seeing “the introduction of the ‘memecoin asset class’ to the world by TradFi”. 
While altcoins fundamentally taking over the crypto market, it is important to remember: “These coins are intended for entertainment purposes”, as reported by VanEck’s Matthew Sigel.

Western Europe is a very vital market for the cryptocurrency industry, as it has become one of the fastest-growing cryptocurrency acceptance markets in the world. The daily number of trading participants in the region ranges from 1.2 to 1.5 million. Lately, the research division of the cryptocurrency exchange Bitget has published a report analyzing the structure and current landscape of the Western European cryptocurrency markets. In addition, analysts have identified key user preferences and made predictions about future trends in the cryptocurrency market. So what is the current state of the Western European crypto market?
The Dominance of Centralized Exchanges And Spot Trading
The report notes that Germany and France have become the leaders in terms of cryptocurrency trading in Western Europe. Austria, however, has shown extraordinary growth, recording a 70% increase in the number of cryptocurrency traders between December 2022 and December 2023. Analysts attribute this surge to the country’s progressive approach to investing in cryptocurrencies.
After analyzing local market trends and trading instrument preferences, analysts found that users in Germany, Switzerland, and the Netherlands prefer futures trading, while other countries lean toward spot trading.
When it comes to cryptocurrency trading, most Western European users prefer centralized exchanges, with CEX traffic exceeding DEX by a factor of 10. Among crypto users who prefer decentralized platforms, the most popular platforms were PancakeSwap and Uniswap. The most used wallets are Coinbase, Metamask, Bitget Wallet, and TrustWallet.
As for the former, it is also popular among other parts of Europe, including Ukraine, as it supports the UAHg-pegged stablecoin. The digital asset provides users with access to major exchanges, DeFi platforms, staking services, and many other applications. Specifically, UAHg has announced the introduction of a loyalty program for users, as well as several other activities with partners such as WhiteBIT, Bitcoin Global, GEO Pay, and others.
DeFi accounts for most cryptocurrency activity in Western Europe, while P2P trading volumes remain significantly low. Analysts note that one of the reasons for the limited spread of P2P cryptocurrencies in the region is the widespread practice of acquiring digital assets using fiat deposits or linked cards.
What Assets and Trend Topics in Western Europe Are Chosen by Investors
One of the trends in the Western European crypto sphere is participation in decentralized projects and familiarization with tools and trading on DEX, NFT, and Web3 platforms.
Regarding assets, new cryptocurrencies such as Ordinals, NFT, RWA, DePin, the Solana ecosystem, and meme coins attracted the most attention from traders. Trending topics and coins include the significant growth of the Solana ecosystem due to the launch of tokens and airdrops, as well as increased interest in Manta Network and Ondo Finance.
In addition, significant attention is being paid to second and third-tier networks such as CRO, $FTM , and $SUI . This indicates that even without particularly positive news or important announcements, users in the Western European region maintain a constant interest in these networks.
Trends in the Behavior of Western European Crypto Traders
The Bitget research emphasizes the high level of education among Western European users. In addition, they note that cryptocurrency users are cautious and prefer long-term investments. Participation in online and offline forums, including the Ask Me Anything (AMA) community, where they exchange information about the market and discuss industry trends, is also popular among local enthusiasts.
It is also important that users prefer legality and demonstrate a genuine interest in complying with Know Your Customer (KYC) and anti-money laundering (AML) rules aimed at protecting the interests of investors and ensuring the stability of the financial system without hindering technological innovation.
Forecasts of Future Trends in the Crypto Market
Summarizing, based on a comprehensive study of the European market, Bitget analysts predict the following developments in the Western European market in 2024:
Germany and France will retain their status as centers of cryptocurrency activity in Western Europe.Due to the development of the cryptocurrency market and the growing adoption rate among Western European users, the number of DAUs involved in cryptocurrency trading in the Western European market is expected to grow from 700,000 in 2023 to approximately 1.2–1.5 million by 2024.Western European users will continue their engagement in on-chain interactions, with undiminished interaction with NFTs, DEXes, and blockchain games. Similarly,1 or 2 blockchain application projects incubated by Western European teams will emerge as leaders in their respective sectors.Decentralized exchanges will accommodate an increasing demand for on-chain transactions. Some emerging centralized exchanges, with their superior customer service and platform perks, will gain greater favor among Western European users, thereby capturing a larger market share.With rising engagement in Solana ecosystem projects, wallets like Phantom and Bitget Wallet that integrate various blockchain ecosystems will see significant gains, increasing their market share in the Western European market.
Summary
Western Europe plays a key role in the cryptocurrency market due to its rapid development and large number of users. Forecasts emphasize the further growth of the crypto market in the region. In addition, the study emphasizes the importance of a regulated approach and active user participation in shaping the future of the cryptocurrency industry in Western Europe.
$SOL