Revolut users reported that the app briefly displayed Bitcoin prices plunging to around $39,900 on Friday, while some traders also received notifications suggesting extreme price moves, including that BTC had reached a 52-week low of 2 cents.

Users further reported on X apparent simultaneous price drops across multiple cryptocurrencies, including XRP and Solana (SOL), as well as stablecoins such as USDt (USDT) and USDC (USDC).

The anomalies, which quickly reversed, appear to have been confined to the Revolut app, with no matching price dislocation visible across aggregated multi-exchange data or derivatives markets during the same period.

External pricing sources such as CoinMarketCap and CoinGecko showed no corresponding movement in Bitcoin or other major assets, suggesting the incident was likely caused by a platform-specific pricing or data issue rather than a broader market event.

Revolut said BTC had dropped to 2 cents. Source: That Martini Guy B

Revolut said it was experiencing issues affecting some of the app’s functionalities and that its teams were working on a fix.

Experts point to data feed error or thin liquidity

Ranveer Arora, ex-PwC quantitative trading lead and co-founder of Altura.trade, told Cointelegraph two explanations are circulating for the roughly 50% intraday wick seen on Revolut’s BTC chart.

“The first is a data feed error,” he said. “It could be a corrupt tick pushed through Revolut’s pricing system, briefly anchoring the 1D chart at around $39,900 before correcting,” adding that, as Revolut is not an exchange and sources prices from external providers, a single bad data point could produce such a chart move.

Arora added that an alternative explanation is a transient liquidity gap in a thin order book environment. “Revolut operates with limited liquidity depth compared to a full exchange,” he said. In such a scenario, a large sell order could temporarily exhaust available bids and print a sharp downside wick before recovery.

However, he noted that the absence of matching prints across other venues makes a data error more likely, while any corresponding trades elsewhere would support the liquidity-gap hypothesis.

Related: Bitcoin can crash to $50K if ‘most critical’ bear market test fails: Analysis

Marc Tillement, director of blockchain price oracle Pyth Data Association, said the episode highlights how fragile price perception can be in fragmented data environments, where “a single bad print can distort the perception of price very quickly,” especially in retail-facing systems.

He added that as markets become increasingly continuous and data-driven, the reliability and provenance of pricing infrastructure become central to market trust, with participants depending on transparent, verifiable data layers to avoid distorted signals.

A Revolut support message said the company was “currently experiencing issues affecting some of the app’s functionalities” and that engineers were working on a fix, urging customers to monitor its status page for updates.

Revolut said it was working on the issue. Source: Revolut

A spokesperson for Revolut confirmed that the incident had been rectified, telling Cointelegraph it was caused by a “service disruption at a third-party provider,” resulting in inaccurate pricing on the platform. They said the company was now evaluating the details of the disruption.

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European Central Bank (ECB) President Christine Lagarde said stablecoins are not Europe’s best route to strengthening the euro’s international role, pushing back against calls to respond to US dollar-backed stablecoins with euro-denominated tokens.

Speaking on Friday at the Banco de España LatAm Economic Forum in Roda de Bará, Spain, Lagarde made several comments on the role of stablecoins in the European economy. “It is no longer about whether stablecoins should exist, but whether jurisdictions can afford to be without them,” she said, arguing that the case for promoting euro stablecoins becomes less clear once their two core functions are separated.

“The benefits attributed to them [stablecoins] rest on two distinct functions — a monetary function and a technological function — that are systematically conflated in the current debate,” Lagarde said.

The speech lays out one of Lagarde’s clearest arguments yet against treating euro stablecoins as Europe’s answer to US dollar-backed stablecoins, which currently dominate the market with a roughly 98% share. The US has been promoting dollar stablecoins as a way to support the US dollar as a global reserve currency. Instead, she said Europe should build tokenized financial infrastructure anchored by central bank money, including the Eurosystem’s Pontes project for wholesale settlement and the Appia roadmap for an interoperable European tokenized finance ecosystem.

Monetary function: Possible upside, but clear trade-offs

However, Lagarde said that euro-denominated stablecoins operating under the European Union’s Markets in Crypto-Assets Regulation (MiCA) “could generate additional global demand for euro-area safe assets.”

She stressed that this comes with significant trade-offs, including financial stability risks such as fund runs and reserve fragility, and weaker monetary policy transmission if deposits move out of banks.

Source: Christine Lagarde

Lagarde pointed to the 2023 collapse of Silicon Valley Bank, when Circle’s USDC stablecoin briefly fell below its peg after revealing exposure to the bank, as an example of how quickly confidence can weaken.

She said such episodes show how redemption pressures can spill into underlying asset markets and, as stablecoin use grows, create feedback loops between redemptions and prices, particularly where issuers are not banks.

Technology function: Stablecoins are not the only solution

On the technology side, Lagarde acknowledged the role of stablecoins in cross-jurisdictional financial market infrastructure that is accessible “without relying on a maze of legacy intermediaries.”

However, she said that this technological function is not unique to stablecoins. Other forms of tokenized money, including commercial bank deposits or central bank money, could perform the same role within distributed ledger systems, Lagarde said.

“The answer […] does not lie in rejecting technology or discouraging stablecoins altogether. Instead, we must build the public infrastructure that will enable alternative instruments, such as stablecoins and other forms of tokenised money, to operate within a framework anchored by central bank money.”

Lagarde said the EU response is to facilitate wholesale settlement in central bank money through its Pontes project, which links distributed ledger platforms to the Eurosystem’s existing settlement infrastructure, allowing DLT-based transactions to be settled directly in central bank money.

Related: Stablecoin adoption to scale on back of big tech firms: Bitwise

She added that the Appia roadmap, published in March, goes further and outlines a plan for a fully interoperable European tokenized financial ecosystem by 2028.

“Europe knows which port it is sailing to,” she said, adding: “Our task is not to replicate instruments developed elsewhere, but to build the foundations and the infrastructure that serve our own objectives, so that we can harness the benefits of innovation without importing the fragilities.”

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Ripple now appears alongside heavyweights like SpaceX, OpenAI, and Anthropic. Check out how.

The company behind the popular cryptocurrency XRP made a prestigious list alongside major private companies such as SpaceX.

The news has failed to trigger a price resurgence in its native token, which remains in the red for the day. However, certain indicators suggest it might be gearing up for a rally.

Another Acclamation for Ripple

Ripple has earned recognition as one of the top 10 entities included in the Prime Unicorn Index, highlighting its strong position in the private-company landscape. Specifically, it ranks sixth on the list with a valuation of over $26 billion.

The undisputed leader is Space Exploration Technologies Corporation (better known as SpaceX), which is valued at more than $1.2 trillion. The second position goes to OpenAI, with a valuation of around $917 billion, while Anthropic comes in third at roughly $332 billion. It is important to note that Ripple is the only crypto company part of that prestigious club.

The index tracks the performance of US private companies valued above $1 billion. It uses a modified capitalization model and serves as a benchmark for financial products tied to such entities. Currently, the index includes 232 companies with a combined valuation of more than $3.4 trillion.

This is hardly the first time Ripple has been featured in a prestigious ranking. In 2024, CNBC and Statista ranked it among the top 250 fintech companies worldwide. In 2022, People’s Magazine positioned Ripple as the 4th Best Workplace for Parents and the 21st Best Workplace in Technology.

No Reaction From XRP

The company’s cross-border token experienced little to no volatility following the disclosure and has been trading at around $1.40, representing a 1.5% daily decline.

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At the same time, the solid institutional interest signals that the asset could be on the verge of a price increase. Inflows into spot XRP ETFs have dominated outflows over the last few weeks, indicating that pension funds, hedge funds, and other investors have increased their exposure to the asset, which could support a potential bullish momentum.

For his part, the renowned analyst Ali Martinez claimed that XRP’s TD Sequential indicator has flashed a new buy signal on the four-hour chart.

“I pay close attention to this setup because it has accurately anticipated every major trend shift in XRP recently. For instance, on May 6, I noted the indicator flashed a sell signal at the $1.46 high. That call perfectly timed the local top, leading to the 5.5% correction we’ve seen over the last 48 hours. Today, the indicator has flipped to a buy signal. To me, this suggests the local exhaustion is over, and XRP is ready to rebound,” he said.

Earlier this week, Martinez argued that a confirmed close above $1.45 could open the door to a rise to as high as $1.80.

“The downtrend has ended, and a new uptrend is ongoing,” one analyst suggested.

The primary cryptocurrency has posted a 6% price increase over the past week, and now many analysts believe a further ascent could be on the way.

However, a number of warning signs suggest a short-term correction remains just as plausible.

Climbing Towards New Peaks?

Bitcoin has been gradually rising over the last several days, briefly touching $83,000 on May 6 before reversing to the current $81,000 (according to CoinGecko). Its resurgence comes on the back of a broader market revival triggered by the recent peace talks between the USA and Iran, among other factors.

Numerous industry participants are optimistic that BTC’s rally is nowhere near its end, with John Bollinger joining the discussion. The legendary technical analyst revealed that his fund’s “Tactica” program has opened a new position and is now “fully invested” in the cryptocurrency after the trend model turned positive.

This method is used at Bollinger Capital Management as a systematic allocation tool, automatically adjusting the entity’s exposure based on predefined signals.

The analyst is better known for developing the Bollinger Bands indicator, which consists of a moving average with an upper and lower band that expand and contract based on market turbulence. Some X users noted that, towards the end of April, these channels squeezed as never before on a monthly basis, which is usually a precursor to a big price swing.

Other market observers who have touched upon BTC’s performance lately include CW and Aman. The former argued that the asset has begun “a full-cycle rise after completing a retest following a convergence breakout.”

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“The downtrend has ended, and a new uptrend is ongoing,” they added.

For their part, Aman wondered if BTC is ready to “vaporize” the $86K wall. The analyst claimed that the price has entered a specific zone where the big players will decide the trend.

The Biggest Bull Trap?

It is important to note that some industry participants expect the recent upswing to be abruptly replaced by a major pullback. X user Chiefy, for instance, described the current development as “the biggest Bitcoin bull trap of this cycle,” envisioning a collapse to as low as $42,000.

At the same time, the asset’s social sentiment has jumped sharply, with Santiment showing a 1.37 bullish versus 1.00 bearish ratio – the most optimistic reading in nearly four months. While this surge in confidence highlights growing trader enthusiasm, it can actually be a bearish sign, as the crypto market tends to move against the crowd’s expectations.

The ratio of leveraged positions also displays the reigning optimism among market participants, which could serve as another warning signal. According to X user Ted, longs have outnumbered shorts by about 11 to 1.

The price has entered a flat channel. Can it break away?

PI Network (PI) Price Predictions: Analysis

Key support levels: $0.16

Key resistance levels: $0.20, $0.28

PI is Stuck in a Channel

Since the price bottomed at 13 cents, PI has entered a range between 16 and 20 cents. The price has been trading between these levels since early March, and any attempt to break away was rejected.

For example, in late April, buyers tried to break above the 20-cent resistance, but the buying momentum was quickly stopped after the selling volume spiked twice. This pushed PI back towards the support at 16 cents.

Momentum is Flat

Momentum has turned flat without a clear direction since March as PI’s price bounced between the limits of its trading channel. This can also be seen across the momentum indicators that are bouncing around their mid-range.

While volume increased in late April and May, it was not enough to drive a breakout above 20 cents. However, another attempt at that key resistance could be successful. In such a case, bulls will target 28 cents next.

Daily RSI is Stuck Around 50

In the past week, the daily RSI has been hugging the midpoint at 50. This shows a lack of clear momentum, which has pushed the price to move sideways around 18 cents. Ideally, PI holds here to make a higher high which could build a bullish bias for an eventual breakout.

To build confidence in a breakout, the daily RSI will need to move above 50 points and approach 70, which would signal that buyers are returning. That can also coincide with a new attempt at breaking the $0.20 resistance.

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

Unfortunately, Ethereum was rejected at the $2,400 resistance this week. Bulls did not manage to break this key level, and now the price appears to be curving down towards the support at $2,000.

While the price is in the same spot as last week, the weakness over the past few days suggests sellers could be returning, and momentum is shifting bearish again. This is bad news for those who hoped ETH could reach higher highs.

Looking ahead, ETH will have to complete its current pullback before any renewed attempt at the current resistance. That means a price around $2,000 in the coming week becomes likely. If that support holds, then bulls could have another go at the key resistance.

Ripple (XRP)

XRP also closed the week flat, having been unable to break above its current pennant. While buyers tried to hold it above the $1,4 support, it appears this level is being challenged by sellers at the time of this post.

If this cryptocurrency cannot stay above $1.4, then the bias shifts bearish with a higher probability that the price will fall under the pennant, which could open the way for XRP to revisit the support at $1 in the future.

Looking ahead, XRP remains in a macro downtrend even if the price took a pause and moved sideways since February, which has created the current pennant. Ideally, we want a clear breakout from this formation, but this seems a big ask now.

Cardano (ADA)

Surprisingly, ADA had a good week with a 5% gain. This also allowed the price to test the key resistance at $0.28. However, sellers did not allow it to break that level and pushed back. At the time of this post, this cryptocurrency is in a pullback.

Nevertheless, Cardano made a higher high, which brings optimism that another go at the key resistance could be successful. Should bulls manage to hold the price above $0.25, this appears likely.

Looking ahead, this is the first time in over a month when ADA shows potential for a breakout. Even the buy volume has picked up, which confirms buyers are returning to this cryptocurrency.

Binance Coin (BNB)

BNB also closed the week with a 3% gain after it managed to make a higher high at around $660. However, this was not enough to test the key resistance at $690. For that, buyers will have to work harder and sustain the current buy volume.

Since the resistance at $580 was tested several times and held well, the price had no other choice but to start trending higher. However, for a breakout to happen, the momentum needs to pick up.

Looking ahead, Binance Coin appears to be consolidating in a flat range between $580 and $690. This has been ongoing since late February. Hopefully, bulls can take charge of the price and put pressure on the resistance in the coming days and weeks.

Hype (HYPE)

HYPE closed the week in green with a 6% gain. While this is encouraging, it’s likely not enough to really challenge the resistance at $43, which continues to hold buyers in place. That level has to break and turn into a support if HYPE wants to make new highs.

Considering that this cryptocurrency has struggled to break the key resistance for over three weeks, this could be interpreted as a sign of weakness. In the past, the bullish momentum was much more aggressive and this lack of conviction could allow sellers to take advantage.

Looking ahead, HYPE is found at a crossing point. Either it breaks above $43 soon or the price may fall into a corrective move that can revisit the support at $36 and $30 in the future.

Mantle tokenholders backed a proposal authorizing a credit facility of up to 30,000 Ether (ETH), worth about $68 million, for Aave DAO, advancing remediation tied to bad debt from the April rsETH exploit.

The proposal, MIP-34, passed in a seven-day Snapshot vote that ended Friday, according to DAO governance platform Snapshot. The measure authorizes the Mantle Foundation to negotiate and execute definitive agreements with Aave DAO for a loan from the Mantle Treasury, though the facility remains subject to Aave implementing its recovery plan and the parties finalizing terms.

The credit facility is intended to help address the impact of the rsETH incident on Aave V3. The proposal said the attacker deposited 89,567 unbacked rsETH on Aave and borrowed about $190 million in WETH, wstETH and stablecoins, creating potential bad debt estimated at between $123.7 million and $230.1 million.

The vote comes as the fallout from the rsETH exploit has moved beyond the initial liquidity shock into a broader remediation phase, with Mantle positioning its treasury as a backstop while Aave works to address bad debt and restore confidence in its lending markets. 

Source: Aave

Aave WETH market cools after post-exploit squeeze 

The Mantle credit facility would address the shortfall that also created liquidity stress across Aave’s lending markets.

Galaxy Research said in a Thursday report that the rsETH exploit pushed Aave’s Wrapped Ether (WETH) market into a prolonged squeeze, with WETH utilization staying above 99% for 12.7 days after the incident. 

“Across the full analysis horizon, WETH utilization stayed structurally elevated and close to the 100% ceiling, with an average around 99.6% and only easing to about 98.47% by the end of the snapshot period,” Galaxy said. 

Related: Aave asks Arbitrum to send 30K ETH from Kelp exploiter to ‘DeFi United’

High utilization means most of the supplied asset has already been borrowed, leaving little idle liquidity available for immediate withdrawals. In Aave’s case, Galaxy said the WETH market remained strained because supply contracted faster than borrows declined, keeping utilization near full capacity even after the initial shock. 

30-day WETH utilization rate chart. Source: Aavescan

The market has since cooled from the near-100% levels described in Galaxy’s analysis. Aavescan data showed Aave’s Ethereum V3 WETH market at about 91.6% utilization on Friday, with roughly 2.02 million WETH supplied and 1.85 million WETH borrowed. 

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