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Bitcoin spot ETFs recorded net inflows of $131.31 million, led by BlackRock’s IBIT with over $144 million in fresh capital
Hyperliquid’s HYPE token surged more than 20% as trading activity and ETF interest rose, while Cardano unveiled its Leios upgrade
THORChain suspended trading after blockchain researchers detected a multi-chain exploit exceeding $10 million
The crypto market saw major developments as Bitcoin ETFs pulled $131 million in inflows, while Hyperliquid’s HYPE token jumped over 20% as derivatives activity increased. Cardano introduced its Leios scalability upgrade, and THORChain halted trading after a $10 million exploit.
According to SoSoValue, the Bitcoin spot ETF saw a total net inflow of $131.31 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of $144.10 million.
The second highest was Bitwise's ETF BITB, with a daily net inflow of $17.70 million.
The Bitcoin Spot ETF with the highest net outflow yesterday was Grayscale's ETF GBTC, with a daily net outflow of $31.64 million.
The total net asset value of Bitcoin Spot ETFs is $107.75 billion, with an ETF net asset ratio of 6.61%. The historical cumulative net inflow has reached $58.63 billion.
Strategy’s Series A Perpetual Stretch Preferred Stock, Stretch (STRC), recorded an all-time high trading volume of $1.53 billion on Thursday.
Executive Chairman Michael Saylor highlighted the surge in liquidity in a post on X.
The latest numbers surpassed the previous daily trading record of $1.1 billion set on April 13, highlighting growing investor activity around the preferred stock.
Last month, STRC-linked acquisitions totaled roughly 77,000 BTC through late April, roughly 10 times the net purchases by all US spot Bitcoin ETFs combined.
Cardano’s Leios upgrade targets a 30x increase in throughput to process over 27 million transactions monthly.
Leios is the network’s most ambitious scalability effort and aims to enhance the current consensus protocol: Ouroboros Praos.
According to the Input Output Group (IOG), which is leading the charge, Praos was built for decentralization and security, and it has delivered on both. However, to become a truly global network for day-to-day use cases, Cardano requires scale, and Leios is the way to deliver it, IOG says.
The aim is to grow its monthly transaction count from 800,000 to over 27 million “while staying economically self-sufficient as Reserve diminishes.”
This will be achieved through a 10-65x increase in throughput capacity, which IOG says it has already simulated in CIP-0164, an improvement proposal first revealed last August.
Also Read: Bitcoin Price Analysis: What Is the Next Resistance Level?
Hyperliquid’s native token HYPE surged over 20% today as rising trading activity, a newly launched ETF, and growing competition with Solana-based perpetual trading platforms pushed investor interest sharply higher.
The rally comes as Hyperliquid strengthens its dominance in on-chain derivatives trading while competition from Solana-based perps platforms rapidly heats up across the crypto market.
Key catalysts behind HYPE’s rally were the launch of the Bitwise Hyperliquid ETF, which officially began trading on the New York Stock Exchange under the ticker BHYP.
The platform recently processed nearly $7.89 billion in daily trading volume while generating roughly $2.57 million in protocol fees within 24 hours. Also, HYPE trading volume surpassed $760 million as traders increased their positions in the token.
THORChain, the cross-chain liquidity protocol, suspended all trading operations on Friday morning after blockchain security researchers identified a suspicious breach worth over $10 million, spread across four separate networks.
The native token RUNE fell nearly 10% within hours, dropping to $0.52, according to CoinGecko data.
The exploit was flagged by on-chain researcher ZachXBT and security firm PeckShield on May 15. Funds appear concentrated in two main addresses: one on Bitcoin, where 36.75 BTC (around $3 million) were transferred, and one spanning EVM networks with estimated losses of around $7 million split across Ethereum, BNB Smart Chain, and Base.
Also Read: ETH Price Prediction 2026: Will Ethereum Reclaim $2,350 or Fall Further?
South Korean financial firm Hana Financial is buying a stake in Dunamu, the operator of the crypto exchange Upbit.
In a regulatory filing on Friday, Hana Financial announced it is buying over 2.2 million shares, or around 6.55%, in Dunamu.
Hana Financial’s 6.55% stake makes it the fourth-largest Dunamu shareholder.
1. Why did Bitcoin ETFs see fresh inflows?
Bitcoin ETFs attracted renewed institutional interest as market sentiment improved and Bitcoin remained above key support levels. BlackRock’s IBIT alone contributed over $144 million in inflows, reflecting continued institutional demand.
2. What caused Hyperliquid’s HYPE token to surge?
HYPE rallied over 20% due to strong derivatives trading activity, rising protocol revenue, and the launch of the Bitwise Hyperliquid ETF on the NYSE under the ticker BHYP.
3. What is Cardano’s Leios upgrade?
Leios is Cardano’s major scalability initiative designed to improve transaction throughput by up to 30 times. The upgrade aims to increase monthly transactions from 800,000 to over 27 million while maintaining decentralization.
4. What happened with the THORChain exploit?
Blockchain security firms identified suspicious transfers exceeding $10 million across Bitcoin, Ethereum, BNB Chain, and Base networks. Following the exploit, THORChain temporarily suspended trading operations, and RUNE fell nearly 10%.
5. Why is Hana Financial’s investment in Dunamu important?
Hana Financial's acquisition of a 6.55% stake in Dunamu signals growing institutional interest in crypto infrastructure in South Korea. Dunamu operates Upbit, one of Asia’s largest cryptocurrency exchanges.
