Crypto Market
$BTC dropped back below $75K over the weekend. The Strait of Hormuz briefly reopened but was shut again by Iran—wiping out the gains from the past few days. As long as the conflict drags on, BTC struggles to find stability.
$ETH is trading around $2,280, with sentiment hit by a سلسلة of DeFi liquidations and failures.$SOL remains stagnant and largely ignored by the market.
Major Security Incident:
KelpDAO suffered what is being called the largest hack of 2026, with ~$293M in rsETH stolen via the LayerZero bridge. AAVE V3/V4 urgently froze the rsETH market, Curve paused LayerZero-related infrastructure, and at least 9 protocols were affected. This marks a true cross-protocol contagion event, putting heavy pressure on the LRT sector.
Justin Sun withdrew 53,700 $ETH (~$125M) from AAVE and deposited it into Spark—moving fast amid the turbulence.
Altcoin rotation continues, but leadership has shifted. Top gainers in the past 24h include:
WOJAK (+220.7%), AITECH (+77.1%), PIEVERSE (+67.2%), GUN (+42.0%), and BOME (+26.1%).
Meanwhile, previously strong tokens are seeing sharp pullbacks:
BASED (-51%), SIREN (-42%), ORDI (-33%).
The once-hot token RAVE has completely collapsed, plunging from $28 two days ago to ~$0.5. Earlier today, $32M worth of tokens tied to the initial allocation were moved to exchanges, followed by a rapid 40% drop.
Global Markets
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U.S. equities continued their rally last Friday:
- Dow Jones +870 pts (+1.8%)
- S&P 500 at 7,126 (new ATH)
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Nasdaq +1.5%
A completely different market narrative compared to crypto.
- The S&P 500 is up over 4.5% this month, sharply contrasting with crypto’s weakness.
Commodities
Gold is around $4,770/oz, slightly pulling back from recent highs.
WTI crude dropped to ~$84–85. The repeated opening/closing of the Strait of Hormuz has caused sharp volatility. Iran’s Revolutionary Guard reportedly fired on tankers attempting to pass, signaling that tensions remain far from resolved.
Iran Conflict Updates
- Iran stated it has not agreed to the next round of talks with the U.S., while Trump said JD Vance will not participate in negotiations—peace talks are stalled again.
- The U.S. reportedly struck an Iranian cargo vessel, disabling it after hitting the engine room. Iran later retaliated with drone strikes on U.S. naval ships.
AI Highlights
- DeepSeek is reportedly launching its first external funding round, with a valuation exceeding $10B and aiming to raise at least $300M—intensifying the US-China AI race.
- Anthropic released a new product, Claude Design, over the weekend, continuing to expand its AI application ecosystem. Its latest valuation has surged to $380B, with some investor bids reportedly reaching as high as $800B.






