Crypto Market Eyes $2.60T as NEAR Jumps 21%, SpaceX Confirms 18,712 BTC Treasury

Crypto News

Blind signing — the practice of approving DeFi transactions without seeing readable instructions — has been linked to billions in user losses, and a new wallet integration is targeting the gap directly. ERA Wallet has introduced ERA Lens, an on-device parsing engine that converts raw calldata into plain-language summaries before any signature is authorized. The launch follows the Ethereum Foundation's May 12 announcement of Clear Signing, an open standard for human-readable transaction approvals. Security analyses of the Bybit exploit showed how a routine-looking approval can quietly redirect wallet control, making readable transactions a structural defense rather than a cold wallet UX enhancement.

The total crypto market capitalization climbed 0.19% on May 22 to $2.57 trillion, adding $4.93 billion as the index pressed toward the $2.60 trillion decision zone. Bitcoin changed hands near $77,699, while broader risk appetite spilled over from NVIDIA's blowout earnings earlier in the week that lifted AI-adjacent and digital asset names together. A daily close above $2.60 trillion would mirror the May 4 breakout that carried the index to $2.72 trillion within days. The $2.47 trillion support has held firm since April 19, defining the lower bound of the current trading range as traders watch for resolution.

NEAR Protocol led the top-100 gainers, jumping 21% to $2.10 after clearing the upper boundary of a multi-week rising channel. The breakout drew elevated volume and pushed the altcoin to its strongest level in weeks, outpacing the broader market by a wide margin. Traders interpreted the move as a fresh leg in NEAR's recovery narrative, with momentum indicators flipping bullish across short-term timeframes. The rally arrived alongside renewed interest in AI-linked tokens, where NEAR's positioning as an infrastructure layer for autonomous agents has drawn fresh attention. Follow-through above resistance would open a path toward higher levels into next week.

A regulatory filing tied to SpaceX's planned public listing disclosed an 18,712 BTC corporate treasury position, valued at roughly $1.29 billion as of the first quarter. The figure more than doubled prior blockchain-tracker estimates and reinforced the thesis that large industrial firms are quietly accumulating Bitcoin on their balance sheets. The disclosure landed alongside a 0.17% gain in the S&P 500 on May 21, reflecting the same risk-on backdrop that has supported digital assets. For corporate treasury watchers, the size of the position signals a long-running accumulation program rather than a recent trade, broadening the institutional holder set.

Cardano founder Charles Hoskinson warned that the network's research arm could shut down if a 32.9 million ADA funding proposal fails to pass before the June 8 vote. The proposal would direct treasury funds toward research underpinning much of Cardano's academic-grade development pipeline. Hoskinson framed the vote as existential for ongoing work on consensus mechanism design and formal verification, urging the community to weigh the long-term cost of losing that capability. The episode has rekindled debate about Cardano's treasury governance and how decentralized funding decisions should balance research continuity against short-term token-holder preferences.

On-chain analytics estimate that roughly 6.04 million BTC, worth close to $500 billion at current prices, sit in addresses exposed to future quantum computing attack vectors. The estimate covers legacy address types where public keys are visible on-chain, drawing renewed attention to post-quantum migration debates. Separately, the latest perpetual futures market data shows aggregate crypto open interest sitting more than 50% below its October 2025 peak, suggesting leverage has been steadily flushed out of the system. Lower open interest typically narrows the surface for cascade liquidations, leaving spot flows and corporate accumulation as cleaner drivers of price action.

This week's reporting points to a market in transition rather than a market in motion. Corporate treasuries are absorbing supply quietly, leverage is well off its cycle highs, infrastructure-layer altcoins are leading individual rallies, and security primitives like clear signing are arriving at the wallet layer. Together, these threads describe a maturation cycle in which the dominant narrative is no longer pure speculation but institutional rotation paired with hardening market plumbing. Regulatory and governance debates around chains like Cardano add a policy dimension, but the underlying signal is that crypto's foundation is being rebuilt while the index consolidates near key technical levels.