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XRP gained 3.18% to $1.1866 as trading volumes surged above 107 million tokens, pushing the token above key resistance levels near $1.14
Spot Bitcoin ETFs recorded weekly net outflows of $316 million, although cumulative inflows remained strong at $53.62 billion
SIREN collapsed 96% after a wallet linked to the project reportedly sold 92% of the circulating supply
The crypto market saw major developments as XRP jumped 3.18% to $1.1866, while Bitcoin spot ETFs had $316 million in weekly outflows. At the same time, Aztec Connect got hit with a $2.1 million exploit, HYPE surged 8%, and SIREN crashed 96% after a token dump.
Aztec Connect Suffers $2.1 Million Exploit
On Sunday, a deprecated decentralized finance (DeFi) platform known as Aztec Connect suffered a crypto exploit that resulted in the theft of approximately $2.1 million worth of digital assets.
The company explained that the exploit only impacted the older Aztec Connect platform and did not affect users, funds, or assets on the current Aztec Network. According to the team, roughly $2.1 million was transferred out of the contract during the attack.
According to Aztec Labs, the attacker exploited a flaw in the platform's transaction verification process, which allowed them to create and withdraw unbacked balances. The attacker stole 909 ETH, 270,000 DAI, 167 wrapped staked ETH, and several other assets across seven transactions.
XRP rose from $1.1503 to $1.1866 over the last 24 hours, gaining 3.18%. The move came when volume surged to 107.6 million XRP, more than four times the daily average, pushing price through resistance near $1.14.
XRP-linked ETFs have attracted roughly $1.4 billion in cumulative inflows since launching, with May marking the strongest month of institutional demand so far. The $1.18 level is the first support level after the breakout, followed by the $1.14-$1.15 zone. The immediate target is $1.20, a psychological level that could attract profit-taking after the recent rally.
According to SoSoValue, the Bitcoin spot ETFs recorded a net outflow of $316 million last week.
The Bitcoin spot ETF with the largest net outflow last week was BlackRock’s ETF IBIT, with a weekly net outflow of $355 million; IBIT’s cumulative net inflow to date stands at $62.11 billion.
Next was Grayscale’s Bitcoin Trust GBTC, with a weekly net outflow of $879.14 million. The Bitcoin spot ETF with the largest net inflow last week was Fidelity’s ETF FBTC, with a weekly net inflow of $556.96 million.
The total net asset value (NAV) of Bitcoin spot ETFs stood at $79.65 billion, with the ETF net asset ratio reaching 6.26%; cumulative net inflows to date have reached $53.62 billion.
Also Read: Bitcoin Price Struggles Between $63,000 and $65,000
HYPE rose around 8%, currently near $65.30, as open interest for the contract on Hyperliquid surpassed $1.3 billion and 24-hour trading volume reached $730 million.
According to BlockBeats On-chain Detection, Hyperinsight monitoring data showed that a whale described as a suspected beneficiary of alleged insider activity related to HYPE listings saw unrealized profit expand to $34 million.
The address is holding a 5x leveraged long position of 1.38 million HYPE tokens, with a position size of about $87.6 million, an average entry price of $38.67, and a liquidation price of $50.9.
The report said the whale has repeatedly withdrawn large amounts of margin tied to floating profits after each rally, with cumulative realized gains exceeding $20 million.
According to data shared by Spot On Chain’s Hupzy account, the SIREN controller dumped approximately 670 million tokens over 48 hours, a number that was equal to about 92% of the circulating supply, with the wallet reportedly collecting $64.8 million in USDT during the liquidation.
The data also showed that some $25.7 million, still in USDT, was later transferred to several centralized exchanges, while just over $39 million stayed on-chain, with Hupzy describing the activity as a “textbook pump-and-dump.”
Lookonchain reported similar figures and noted that the whale had kept on selling after receiving $28 million in one day. Furthermore, the analytics account said it had observed around 200 million SIREN tokens moving to exchange-linked wallets, including addresses associated with Binance, Gate, and KuCoin.
Also Read: Ethereum (ETH) Futures Positioning Near $1.6K: Can Ether Drive a Market Rebound?
1. Why did XRP rise over 3% today?
XRP climbed 3.18% after trading volume surged to more than four times its daily average. Strong institutional interest, including approximately $1.4 billion in cumulative ETF inflows, also supported bullish sentiment.
2. What caused the $2.1 million Aztec Connect exploit?
According to Aztec Labs, attackers exploited a vulnerability in the transaction verification process, enabling the creation and withdrawal of unbacked balances across multiple transactions.
3. What do Bitcoin ETF outflows indicate for the market?
ETF outflows may reflect short-term profit booking or cautious investor sentiment. However, cumulative inflows exceeding $53 billion suggest that long-term institutional interest in Bitcoin remains intact.
4. Why did HYPE surge nearly 8%?
HYPE rallied as open interest crossed $1.3 billion and trading volume reached $730 million. Market attention also increased after reports of a large leveraged position generating significant unrealized profits.
5. Why did SIREN crash 96%?
Blockchain analytics platforms reported that wallets linked to the SIREN controller dumped around 670 million tokens, equivalent to roughly 92% of the circulating supply, triggering a severe price collapse and concerns over a potential pump-and-dump scheme.
