Solana Labs, the firm behind the Solana blockchain, has raised USD 314 million via a sale of its native SOL coin with the aim of expanding the smart contract network. With a market cap of USD 11 billion, SOL is now the 12th largest crypto by that metric.
BTC transaction fees priced in the asset have remained well below highs from 2017. This is despite network usage metrics that surpassed those from 2021.
The increase in correlation between assets as diverse as DOGE, ETH, XRP, and BTC suggests that adoption hasn’t been accompanied by a more sophisticated differentiation between usage metrics and technical maturity of varying blockchains and their associated assets.
Arguably, BTC gives local authorities a greater overview of its monetary policies than the EUR or USD, whose management is designed to favor the countries issuing those currencies. BTC has now emerged on a list of currencies which nations can choose to adopt if they’re unable to manage domestic currencies.
The BTC network hasn't shown any obvious reactions to reported crackdowns on mining activity in China. At the same time, Chinese BTC mining hardware producer Canaan has reported that 78% of Q1 revenue came from overseas markets.
The Cardano network’s ADA token achieved a record market cap of USD 73 billion in mid-May. The network, which has limited functionality, has benefited from the narrative-driven investing that’s typical in crypto markets. 
A report from analytics firm Chainalysis claims that ransomware payments in 2020 totaled USD 406 million, up from USD 92 million in 2019.
A selloff of BNB that’s largely in line with other exchange tokens, which aren’t facing the same challenges, suggests that BNB investors have ignored the widespread risk posed by DeFi hacks and U.S. investigations into Binance.
Since achieving an all-time high of roughly USD 2.5 trillion in mid-May, the aggregate crypto market cap has declined by about USD 800 billion to date. BTC dominance remains at about 45%, above record lows from 2017.
During a Friday meeting of China’s State Council, discussions were held about “[cracking] down on [BTC] mining and trading behavior.” The same day, Hong Kong regulators revealed plans to bar retail investors from trading crypto.