On May 23, Bitcoin hovered in the mid-$70,000s and remained capped below major moving averages, with the 200-day average in the low $80,000s still acting as the key barrier. Hyperliquid (HYPE) pushed into price discovery in the low $60s after clearing resistance in the high $40s, while Zcash (ZEC) surged toward $700 but showed signs of unstable, momentum-driven swings. Dogecoin (DOGE) stayed boxed between roughly $0.10 support and $0.11–$0.12 resistance, and Ethereum (ETH) continued to look weaker than BTC while trading below a declining 200-day average around the mid-$2,500s.

On-chain observers flagged unusual contract activity tied to Polymarket-linked infrastructure on Polygon, with outflows that appear to total more than $520,000. The activity was associated with addresses connected to the Polymarket UMA CTF Adapter, while an alleged attacker wallet and a related contract were also identified. Polymarket and UMA have not publicly clarified the incident details or whether users were directly impacted.

XRP Ledger activity jumped over the past 24 hours, with Ledger data showing payment and transaction volumes rising and daily payments climbing back above 1.27 million. XRP’s price has still been trading in a tight band around $1.35-$1.40, with analysts watching whether it can reclaim $1.45-$1.50 on strong volume or remain range-bound.

Zcash (ZEC) saw its trading volume jump more than 100% in a single day, with price briefly touching the $680 area before easing to around $665. Data also showed heavy derivatives activity alongside rising spot and futures volumes, while traders watched whether ZEC can hold the $600–$620 zone as attention also turns to Hyperliquid (HYPE) and Toncoin (TON).

A wallet said to be connected to Grayscale accumulated Hyperliquid's HYPE tokens via major trading firms and OTC routes, sparking one of the token's largest rallies in months. On-chain activity showed about 176,050 HYPE worth nearly $9.84 million moved in, while more than 149,000 HYPE valued around $7.49 million was sent to the Hyperliquid System Address. After the activity surfaced, HYPE pushed above $50 and traders began focusing on the $50-$52 area as a key support zone.

On May 21, technical charts showed Zcash (ZEC) extending a sharp rally above the $600 area while Hyperliquid (HYPE) held an uptrend after pushing through $50. Dogecoin (DOGE) slipped back toward $0.10 and Shiba Inu (SHIB) broke below key moving averages, as Bitcoin (BTC) consolidated near a $76,000-$78,000 support zone after peaking around $82,000.

Chainlink reported a fresh peak in daily network activity as CCIP usage rose, with on-chain metrics showing 80,428 daily active addresses in the week of May 6. The jump followed ecosystem migrations and deeper integrations, while LINK price moved toward the $10 area but remained below the 200-day moving average near $11.30.

Value investor Duan Yongping, often called "China's Buffett," disclosed a new position in Circle Internet Group (CRCL) in his Q1 2026 13F, buying 200,000 shares at an average price of about $95.41. The holding is estimated at roughly $19.08 million, or about 0.095% of his reported $20 billion portfolio. The move stands out given his July 2025 comments that the sector did not interest him, while Circle remains a key stablecoin issuer as the company behind USDC.

XRP Ledger activity picked up again after more than 250 million XRP moved in 24 hours, while daily payment volume topped 407 million XRP. XRP price stayed in a tight $1.35-$1.40 band, with support near $1.30 and resistance around the 100-day and 200-day moving averages. Analysts caution that heavy wallet-to-wallet transfers can also raise near-term volatility if coins later reach exchanges.