Bitcoin’s implied volatility fell to 36.11, its lowest level in nine months as US spot Bitcoin ETFs saw nearly $1 billion in net outflows
Polygon’s stablecoin volume reached $2.5 trillion, supported by capital flows from firms such as Revolut and Tazapay across global payment corridors
Kelp DAO completed the operational phase of its rsETH recovery plan after transferring the final batch of 20,373.7 rsETH to the LayerZero smart contract
Crypto markets saw major developments as Bitcoin’s volatility fell to a nine-month low, while the stablecoin activity on Polygon increased. StablR froze USDR and EURR operations and Kelp DAO went back to full rsETH functionality as per its recovery plan.
Bitcoin’s volatility has dropped to a nine-month low, giving the market a breather. During the Asian trading session, the Bitcoin Volmex Implied Volatility Index fell to 36.11 on Monday.
The lowest level since last September and near the lowest since 2023. This index reflects the market’s expected 30-day Bitcoin volatility, derived from real-time crypto options prices.
US spot Bitcoin ETFs saw approximately $1 billion in net outflows in May, reversing two consecutive months of net inflows and signaling cooling investor demand.
Peter Schiff, the financial commentator, has criticized cryptocurrencies, but this time directed his attack at ARK Invest CEO Cathie Wood.
Schiff stated that investors seeking the technological benefits of blockchain will surely migrate to tokenized gold instead of decentralized digital assets, such as Bitcoin.
The analyst alleges that the precious metal backed by blockchain technology will represent the 'real savings' of the financial future.
While the ARK Invest leader predicts that Bitcoin’s controlled supply will drive it to $1.5 million by 2030, Schiff insists that the metal’s intrinsic value will outperform any digital narrative lacking physical backing.
The stablecoin volume on Polygon is experiencing unprecedented expansion. Several global financial services firms that processed regulated capital flows are utilizing this blockchain’s architecture.
Polygon Labs reported that British fintech Revolut moved $810 million through the network throughout 2025.
Documentation from the firm Tazapay indicates that the platform managed transactions worth $687 million in January 2026, distributed across 173 different countries.
In mid-February, the network’s daily fee records temporarily surpassed those of the Ethereum mainnet. Accounting from Token Terminal verified daily revenues of $313,000 on the scaling protocol compared to $264,000 collected by Layer 1.
Also Read: Bitcoin Price Slips to $77K While ETFs Continue to Shape Market Sentiment
StablR suspended USDR/EURR operations after a cyberattack. On-chain investigator ZachXBT flagged the exploit over the weekend.
The tokens are now under-collateralized and don't meet the 1:1 backing required by MiCA.
The breach, linked to a 1-of-3 multisig wallet weakness, allowed attackers to compromise a key and steal $13.5 million in unbacked tokens, netting them $2.8 million.
Following the breach, the tokens briefly lost up to 50% of their peg; USDR is at $0.994 and EURR is significantly lower at $0.548.
The XRP Ledger is set to roll out the fixCleanup3_1_3 upgrade on Wednesday, requiring validators and node operators to update their software to avoid disconnection from the network.
This upgrade will automatically delete expired NFT offers, fix bugs in permissioned domain settings, enforce trust-line limits on vault withdrawals and correct loan accounting issues.
The upgrade aims to enhance the efficiency and security of the XRP Ledger, a Layer 1 blockchain facilitating multi-currency transactions using the XRP token. XRP continues to trade between $1.30 and $1.40.
Kelp DAO has completed the operational phase of its rsETH recovery plan more than five weeks after the Ethereum liquid staking protocol lost $293 million in a hack.
According to a Monday statement posted by Kelp DAO on X, the protocol transferred the final batch of 20,373.7 rsETH to the LayerZero smart contract responsible for handling token locking, minting, burning and releases during cross-chain transfers.
Kelp DAO had already reopened withdrawals and resumed rsETH bridging between the Ethereum mainnet and supported layer 2 networks after transferring an initial tranche of 25,000 rsETH on May 13.
Also Read: Ethereum Nears Major Breakout Zones at $2,500 and $3,000 After Support Retest
1. Why did Bitcoin volatility fall?
Bitcoin volatility declined as market expectations for near-term price swings cooled. The Bitcoin Volmex Implied Volatility Index fell to 36.11, its lowest level in nine months.
2. What happened with Polygon stablecoin volume?
Stablecoin activity on Polygon reached $2.5 trillion, showing rising usage of the network for payments and regulated capital flows. Firms such as Revolut and Tazapay contributed to this growth.
3. Why did StablR freeze USDR and EURR?
StablR froze USDR and EURR after a cyberattack linked to a multisig wallet weakness. The tokens became under-collateralized and temporarily lost a major portion of their peg.
4. What is the XRP Ledger upgrade about?
The fixCleanup3_1_3 upgrade will remove expired NFT offers, fix permissioned domain bugs, enforce trust-line limits and correct loan accounting issues. Validators must update to avoid disconnection.
5. What did Kelp DAO reopen?
Kelp DAO restored full rsETH functionality after completing its recovery process. The protocol had already reopened withdrawals and resumed rsETH bridging across Ethereum and supported layer 2 networks.
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