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Fantom Foundation, the organization responsible for the development of the layer-1 (L1) blockchain Fantom, introduced the debut of Sonic Foundation and Sonic Labs on Wednesday.

Hong Kong-based cryptocurrency exchange Gate.HK is shutting down due to its failure to meet the local licensing requirements set to be enforced from June 1 onwards.

Shytoshi Kusama, the leader of the Shiba Inu (SHIB) project, expressed a sense of encouragement for the SHIB community after the SEC's significant approval of the first spot Ethereum ETFs. In a tweet dated May 24, Kusama hinted at the possibility of a Shiba Inu spot ETF while reaffirming his dedication to the continuous advancements within the SHIB ecosystem.

The Solana blockchain has emerged as a prominent player in the cryptocurrency arena, drawing attention for its impressive throughput and low transaction fees. Many experts see it as a formidable competitor to Ethereum's dominance.

Bitcoin is currently encountering resistance at its upper range, indicating potential short-term volatility. An analysis by Rekt Capital suggests that Bitcoin historically hasn't broken out of a re-accumulation range so soon after a halving event. With Bitcoin struggling against this high resistance, the cryptocurrency market appears uncertain.

Dan Gambardello, a prominent market analyst and founder of CryptoCapitalVenture, has identified Cardano (ADA) as a potential beneficiary following the SEC’s recent approval of spot Ethereum exchange-traded funds (ETFs).