Blockchain Bulletin 1
Daily crypto analysis: ETF flows, market trends, macro & narratives. Keeping it data-driven, keeping it real.
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Jamie Dimon once called Bitcoin a "fraud."
His bank just increased its #BitcoinETF position by 175%, from 3M to 8.3M shares of BlackRock's #IBIT (~$ 390 M).
IBIT now holds $67B+ in assets. The infrastructure is built. Capital is moving.
The sceptics aren't gone; they're just buying through ETFs now. #JPMorgan
His bank just increased its #BitcoinETF position by 175%, from 3M to 8.3M shares of BlackRock's #IBIT (~$ 390 M).
IBIT now holds $67B+ in assets. The infrastructure is built. Capital is moving.
The sceptics aren't gone; they're just buying through ETFs now. #JPMorgan
Celestia $TIA
is up 13.58% in 24h
The market didn't move. $TIA
did. The volume tells you exactly why.
↳ Price: $0.50 (+13.58%)
↳ 24h Volume: $122M (+102%)
A 102% volume spike alongside a 13% price move isn't a thin-book pump. That's fresh capital entering with conviction, the kind of buying that doesn't reverse in an hour.
Volume is already well above $100M, and that threshold has been cleared and is holding. The question now is whether it sustains into the next 24h or fades once the initial momentum cools.
is up 13.58% in 24h
The market didn't move. $TIA
did. The volume tells you exactly why.
↳ Price: $0.50 (+13.58%)
↳ 24h Volume: $122M (+102%)
A 102% volume spike alongside a 13% price move isn't a thin-book pump. That's fresh capital entering with conviction, the kind of buying that doesn't reverse in an hour.
Volume is already well above $100M, and that threshold has been cleared and is holding. The question now is whether it sustains into the next 24h or fades once the initial momentum cools.
#MetaPlanet just dropped its FY2026 Q1 earnings
↳ Net Sales: ¥3.08B (+251% YoY)
↳ Operating Income: ¥2.27B (+283% YoY)
↳ Operating Margin: 73.6%
↳ BTC Yield: 2.8% (QTD)
↳ Total Assets: ¥402.96B (-12.1% QoQ)
A 73.6% operating margin at this growth rate isn't typical for a company in transition; it signals that the BTC treasury model is generating real operational leverage, not just paper gains.
The one flag: total assets dropped 12.1% quarter-on-quarter, likely tied to BTC price movement rather than business deterioration.
Full-year forecast remains unchanged.
¥16B in sales (+80% YoY) and ¥11.4B operating income (+81%).
No guidance cuts, no course correction, the $BTC thesis is still fully intact.
↳ Net Sales: ¥3.08B (+251% YoY)
↳ Operating Income: ¥2.27B (+283% YoY)
↳ Operating Margin: 73.6%
↳ BTC Yield: 2.8% (QTD)
↳ Total Assets: ¥402.96B (-12.1% QoQ)
A 73.6% operating margin at this growth rate isn't typical for a company in transition; it signals that the BTC treasury model is generating real operational leverage, not just paper gains.
The one flag: total assets dropped 12.1% quarter-on-quarter, likely tied to BTC price movement rather than business deterioration.
Full-year forecast remains unchanged.
¥16B in sales (+80% YoY) and ¥11.4B operating income (+81%).
No guidance cuts, no course correction, the $BTC thesis is still fully intact.
According to CNBC reports, SoftBank's Vision Fund posted $46B in gains for FY2025, and nearly all of it came from one bet:#OpenAI .
Here's the math:
↳ Invested in OpenAI: $30B+
↳ Gains from OpenAI alone: $45B
↳ Total Vision Fund gain: $46B
The rest of the portfolio- Coupang, DiDi, Klarna- was in the red.
But this isn't just a win story.
S&P revised SoftBank's outlook to "negative" in March, flagging concerns over portfolio concentration and debt load. #SoftBank has been selling Nvidia and T-Mobile stakes just to fund the position.
The upside is historic. The risk is just as real.
One company. One fund. $852B valuation and counting.
Read more: https://www.cnbc.com/2026/05/13/softbank-earnings-fy-2025-vision-fund-openai-stake.html
Here's the math:
↳ Invested in OpenAI: $30B+
↳ Gains from OpenAI alone: $45B
↳ Total Vision Fund gain: $46B
The rest of the portfolio- Coupang, DiDi, Klarna- was in the red.
But this isn't just a win story.
S&P revised SoftBank's outlook to "negative" in March, flagging concerns over portfolio concentration and debt load. #SoftBank has been selling Nvidia and T-Mobile stakes just to fund the position.
The upside is historic. The risk is just as real.
One company. One fund. $852B valuation and counting.
Read more: https://www.cnbc.com/2026/05/13/softbank-earnings-fy-2025-vision-fund-openai-stake.html
Crypto ETF flows are sending a split signal.
ETF Net Inflows (May 12):
↳ $BTC
- $239M
↳ $ETH
- $40M
US Spot ETF Daily Net Flows
$BTC
-$233.25M
$ETH
-$130.62M
$SOL
+$19.07M (led by Bitwise's BSOL at $16M)
$XRP
+$5.31M
BTC and ETH post red numbers on US spot ETFs, SOL and XRP are quietly ending the day in positive territory. Whether that's institutional rebalancing or genuine appetite for alts, the directional split is something the market will be watching closely.
SOL's DEX activity remains strong, and XRP continues to benefit from regulatory tailwinds. BTC still commands ~$100B in AUM. The throne isn't shaking yet.
ETF Net Inflows (May 12):
↳ $BTC
- $239M
↳ $ETH
- $40M
US Spot ETF Daily Net Flows
$BTC
-$233.25M
$ETH
-$130.62M
$SOL
+$19.07M (led by Bitwise's BSOL at $16M)
$XRP
+$5.31M
BTC and ETH post red numbers on US spot ETFs, SOL and XRP are quietly ending the day in positive territory. Whether that's institutional rebalancing or genuine appetite for alts, the directional split is something the market will be watching closely.
SOL's DEX activity remains strong, and XRP continues to benefit from regulatory tailwinds. BTC still commands ~$100B in AUM. The throne isn't shaking yet.
$TON is knocking on $3.
The move we've been tracking all week just got louder.
↳ Up 35%+ in 24h, currently at $2.73
↳ Market cap surged 27% to $7.32B
↳ Volume spiked 81%, this isn't thin air buying
↳ RSI at 97- deeply overbought, but momentum isn't fading yet
The technicals are clean, breakout above all key MAs, confirmed by volume. Social sentiment is also leaning bullish, which is adding fuel.
Now the critical zone:
- Hold above $2.31 (daily pivot) → $3 test becomes likely
- Lose $2.50 → a pullback is on the table given how stretched RSI is
$3 is more than just a price; it's a psychological level. Whether $TON breaks through or gets rejected there will set the tone for what comes next.
Watching closely. 👀
The move we've been tracking all week just got louder.
↳ Up 35%+ in 24h, currently at $2.73
↳ Market cap surged 27% to $7.32B
↳ Volume spiked 81%, this isn't thin air buying
↳ RSI at 97- deeply overbought, but momentum isn't fading yet
The technicals are clean, breakout above all key MAs, confirmed by volume. Social sentiment is also leaning bullish, which is adding fuel.
Now the critical zone:
- Hold above $2.31 (daily pivot) → $3 test becomes likely
- Lose $2.50 → a pullback is on the table given how stretched RSI is
$3 is more than just a price; it's a psychological level. Whether $TON breaks through or gets rejected there will set the tone for what comes next.
Watching closely. 👀
$TON is up 62% over the past week, and the price is the least interesting part.
↳ Telegram slashed fees 6× to $0.0005 per tx
↳ Pavel Durov staked 2.2M TON, now the network's largest validator
↳ #TON memecoins surged to a $156M market cap
↳ $7.17M in short liquidations turbocharged the move on May 5. Forced short covering accelerated the move, so part of this rally is mechanical, and not just organic demand.
1B Telegram users. Native chain. Near-zero fees.
The infrastructure is being laid quietly.
Watch for whether active addresses and developer activity follow the price, or if this fades once the short-squeeze pressure clears.
↳ Telegram slashed fees 6× to $0.0005 per tx
↳ Pavel Durov staked 2.2M TON, now the network's largest validator
↳ #TON memecoins surged to a $156M market cap
↳ $7.17M in short liquidations turbocharged the move on May 5. Forced short covering accelerated the move, so part of this rally is mechanical, and not just organic demand.
1B Telegram users. Native chain. Near-zero fees.
The infrastructure is being laid quietly.
Watch for whether active addresses and developer activity follow the price, or if this fades once the short-squeeze pressure clears.
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