The crypto market bounced back on May 21, with total capitalization rising 1.7% to $2.68 trillion, driven by gains in BTC and ETH. Trading volume hit $78 billion, while Bitcoin dominance stood at 58.3% and Ethereum at 9.64%. BTC traded at $77,974.51, up 1.58%; ETH at $2,143, up 1.48%.
Altcoin Momentum: Zcash, HYPE, Nexus Lead; MemeCore Drops
Nexus (NEX) surged 20.51% to $0.05245; Hyperliquid (HYPE) climbed 19.17% to $56.84; Zcash (ZEC) rose 17.09% to $676.98; Dash (DASH) gained 18.98% to $49.94. Solana (SOL) advanced 2.66% to $86.49. On the downside, MemeCore (M) fell 13.95% to $2.99, Kite (KITE) dropped 5.47%, and Chiliz (CHZ) slid 5.20%. Stablecoin market cap contracted 0.2% to $317.6B, while the DeFi sector grew 5.9% to $60.5B, representing 2.3% of total market cap.
Fear Index at 29, Sentiment Remains Cautious
The Crypto Fear & Greed Index read 29 (Fear), slightly up from 27 yesterday but still below last week's 34 and last month's 33. Persistent risk-off sentiment reflects volatility, profit-taking, and macro uncertainties.
Key Headlines: SpaceX Bitcoin Stash, MAS License Revocation, TON Bridge Hack, Coinbase Lists Nexus
SpaceX disclosed holding 18,712 Bitcoin valued at approximately $1.293 billion, with an average cost of $35,300 per coin, according to its S-1 filing in March 2026.
Monetary Authority of Singapore revoked BSquared Technology's MPI license following risk management failures, misleading statements, and outsourcing compliance violations.
TON ecosystem bridge TAC suffered a security flaw that allowed fake Jetton tokens, causing a $2.86 million loss; 90% of funds were later recovered.
Coinbase Markets announced support for Nexus (NEX) token deposits, enabling users in supported regions to access NEX through the platform.
THYP and BHYP ETF volumes surged 50% toward $40 million, and Hyperliquid token HYPE gained over 27%.
U.S. lawmakers reintroduced the Digital Asset Market Clarity Act 2025, proposing small transaction exemptions, stablecoin rules, and IRS review of crypto tax treatment.
Federal Reserve minutes showed inflation above 2%, with energy tariffs and AI investment pressures adding risk. Policy direction remains uncertain with a cautious outlook.
OpenAI is reportedly working with Goldman Sachs and Morgan Stanley on IPO filings, potentially targeting a September listing after resolving a legal dispute with Elon Musk.
Plume obtained a Class M license from the Bermuda Monetary Authority, launching regulated on-chain Vaults for tokenized assets under compliance standards.
Terraform bankruptcy estate alleged Jane Street accessed private Telegram data before the UST collapse, profiting $134 million from short positions. Jane Street denies the allegations.
While major coins show short-term recovery, altcoin volatility and regulatory developments keep the environment risky. Traders should monitor on-chain security and policy shifts closely.