SUI’s prevailing ascending channel and Fibonacci setup project $7.56 as the new record high target. Sui (SUI) is making a strong technical case for a 100% price rally in the coming weeks, helped further by a slew of optimistic updates, such as the recent Nasdaq ETF filing with the US Securities and Exchange Commission (SEC). As of May 28, SUI has reclaimed the “Gooner EMA” as support on the weekly chart. Gooner EMA is a technical indicator created by trader NebraskanGooner that uses the 11- and 22-period exponential moving averages (EMA). When the price crosses above the EMA range, it often leads to further gains. Read more
xAI’s Grok could soon be accessible in Telegram and will offer chats, text editing, chat and document summaries, inbox agents, group chat moderation and more. Update (May 28, 11:12 pm UTC): This article has been updated to add X posts from Elon Musk and Pavel Durov regarding the deal. Elon Musk’s artificial intelligence company xAI has “agreed in principle“ to integrate its AI chatbot Grok across Telegram, says the messaging platform’s CEO, Pavel Durov. Durov said in a May 28 X post that he and Musk agreed to a one-year partnership for Telegram to distribute Grok across Telegram and integrate it into its apps. Read more
The executives behind Metalayer Ventures have launched a $25 million venture fund with a focus on stablecoins and tokenization. Metalayer Ventures, a crypto-focused venture capital firm led by former executives from Chainlink and Two Sigma, has launched a $25 million fund to invest in early-stage blockchain projects with a focus on stablecoins, tokenization and cryptocurrency infrastructure. Metalayer’s fund has already backed seven companies, the company disclosed to Cointelegraph on May 28. These include AnchorZero, a platform helping crypto founders use Roth IRAs for tax advantages, and Spark Capital, a new venture focused on stablecoin infrastructure. Other portfolio companies include Ethena, ClearToken, Crossover Markets, Station70 and Theo — an onchain trading infrastructure project that recently raised $20 million from 17 different VC firms. Read more
XRP traders say it has the potential to rebound to $3.40 as the SEC begins a formal review of WisdomTree’s spot XRP ETF application. Key takeaways: XRP’s falling wedge pattern signals a bullish reversal; 48% price surge potential. SEC’s review of WisdomTree’s XRP ETF may spark investor interest as approval odds jump to 84% on Polymarket. Read more
GameStop’s 4,710 Bitcoin purchase is the company’s first since it disclosed plans in March to move into alternative investments. GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment, acquiring 4,710 Bitcoin, according to a statement posted May 28 on the company’s X account. The company did not specify how much it paid for the Bitcoin (BTC) or when the purchases were made in the announcement, while its Form 8-K filing with the US Securities and Exchange Commission also offers little detail. The amount purchased was worth around $513 million at the time of writing. The announced acquisition is GameStop's first publicly acknowledged Bitcoin purchase since the company disclosed plans to move into Bitcoin investment in March. Read more
Nikola Plecas joins TON Foundation to lead its global payments strategy as the network scales for Telegram’s massive user base. The Open Network Foundation (TON Foundation) appointed former Visa executive Nikola Plecas as its new vice president of payments. Plecas will be responsible for shaping and executing TON’s payment infrastructure strategy, the company said in a May 28 blog post. He is tasked with expanding the network’s capabilities, managing financial partnerships and ensuring compliance across jurisdictions as the foundation scales services for over 1 billion Telegram users. Read more
Bitcoin price remains stuck below $110K since May 23 and data suggest the pattern could continue for a few more days amid macroeconomic uncertainty. Key points: Bitcoin price is stuck in a range, with overhead resistance at $110,000 continuing to obstruct a rally to new all-time highs. Traders are in a wait-and-see mood due to uncertainty surrounding macroeconomic events. Read more