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- $111K Bitcoin, $1B Pizza, Altseason? Bye Amazon!
$111K Bitcoin, $1B Pizza, Altseason? Bye Amazon!
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Bitcoin Pizza Day: BTC tops $111K, outpaces Amazon, and sparks Altseason talk
Key points:
Bitcoin hit an all-time high of $111,878 on May 22, surpassing Amazon’s market cap and triggering altcoin season predictions.
On the 15th anniversary of Pizza Day, 10,000 BTC is now worth over $1.1 billion, enough to buy luxury jets, yachts, and palaces.
News - Bitcoin celebrated its 15th Pizza Day in style, by surging past $111,000 and overtaking Amazon in market cap. With BTC now valued at over $2.2 trillion, it became the fifth-largest asset globally. The symbolic timing and record price fueled excitement among traders and institutions alike.
ETF inflows surged to $604 million in a single day, and open interest in BTC derivatives reached $759 billion, signaling aggressive institutional activity. Firms like JPMorgan and BlackRock are adding legitimacy to Bitcoin, while ETF demand remains strong, especially from U.S. and Asia-based investors.
What 10,000 BTC can buy now - Bitcoin Pizza Day also reignited interest in Laszlo Hanyecz, the programmer who spent 10,000 BTC on two Papa John’s pizzas in 2010. At today’s price, that stash is worth $1.1 billion, enough to buy multiple yachts, supercars, Beverly Hills mansions, or even a Boeing 747. The figure has become crypto folklore and a benchmark for Bitcoin's decade-long ascent from niche asset to global juggernaut.
Altcoin season next? - With Bitcoin dominance dipping below 63.7%, analysts are calling for a potential record-breaking altcoin season. Historical cycles show that BTC surges are often followed by capital rotation into altcoins, especially after halvings. According to Wimar.X and Carl Moon, we may now be on the cusp of that shift.
Cetus DEX hacked for $260M: Spoof tokens, Oracle exploit crash Sui ecosystem
Key points:
Sui-based Cetus DEX was exploited for over $260 million in one of the biggest DeFi hacks of 2025, halting all operations.
Spoof tokens and oracle manipulation drained liquidity pools, sending CETUS and Sui memecoins into freefall.
News - The Sui ecosystem just suffered its biggest security breach to date. On May 22, the blockchain’s top decentralized exchange, Cetus Protocol, was hacked for over $260 million, forcing the platform to halt operations and pause all smart contracts.
Attackers deployed spoof tokens like BULLA to manipulate liquidity curves and oracles, extracting real assets like SUI, USDC, and CETUS. They added near-zero liquidity to pools, altered internal pricing, and walked away with tens of millions in assets, including $61.5M in USDC already bridged to Ethereum.
The exploit was initially labeled a “bug” by the Cetus team, but blockchain forensics from Cyvers and Onchain Lens confirmed it was a deliberate oracle manipulation attack. LookOnChain data shows over 58 million USDC was used to purchase nearly 22,000 ETH, with the hacker’s wallet still active.
Wider Sui market fallout - The ripple effects were immediate.
CETUS token plunged 40%
Top Sui memecoins, including LOFI, HIPPO, and SQUIRT, dropped between 76% and 97% in under an hour
Over 46 Sui-based tokens registered double-digit losses across DEXs
Despite the chaos, SUI’s native token surprisingly rose 2.2%, possibly due to liquidity shifts or speculative bids. Meanwhile, Binance founder CZ said his team has reached out to assist.
What’s next? - This exploit raises fresh concerns about oracle design, LP security, and the response speed of stablecoin issuers like Circle. With sentiment rattled and Sui’s DeFi credibility shaken, the question now is: Can Cetus, and the broader Sui ecosystem, recover from this blow?
Coinbase hacker uses THORChain, trolls ZachXBT
Key points:
The Coinbase hacker swapped $42.5M from BTC to ETH via THORChain, then mocked blockchain sleuth ZachXBT with an on-chain message.
The move reignited debate over THORChain’s permissionless design as 188 BTC linked to the breach was laundered.
News - The hacker behind Coinbase’s late-2024 data breach is back in the spotlight, this time for trolling investigator ZachXBT on-chain after laundering $42.5M via THORChain.
On May 21, the attacker used Ethereum’s input data field to write “L bozo”, a meme slang for “take the loss,” followed by a YouTube link showing NBA legend James Worthy smoking a cigar. The mocking message came after the hacker converted Bitcoin to ETH using THORChain’s decentralized swap protocol.
ZachXBT identified the wallet as tied to the Coinbase breach, which impacted 69,400 users and triggered lawsuits alleging negligent security practices. Coinbase previously rejected a $20 million ransom demand, instead offering the same amount as a bounty for information leading to the hacker’s arrest. The incident could cost the exchange up to $400 million in remediation and reimbursements.
THORChain faces scrutiny over role - While the hacker’s trolling was eye-catching, the bigger issue may be structural. Blockchain sleuths, including ZachXBT, confirmed the laundering of 188 BTC through THORChain, without the protocol intervening.
This reignited a broader debate: Should permissionless DeFi platforms bear any responsibility for enabling criminal swaps?
THORChain developers and supporters pushed back. “We don’t celebrate exploiters,” one user wrote. “We celebrate infrastructure that works.” Others pointed to Coinbase’s internal failings and reiterated that THORChain, like any true DeFi system, treats all funds equally.
What’s next? - As law enforcement and users track stolen funds across blockchains, the incident highlights a growing rift between centralized expectations and decentralized realities. And the hacker? Still active, and still flexing.
FIFA builds its own Avalanche-powered blockchain for digital collectibles
Key points:
FIFA is launching a dedicated Layer-1 blockchain built on Avalanche to power FIFA Collect and future digital fan engagement initiatives.
The migration from Algorand enables EVM wallet support, lower fees, and custom infrastructure, delivered by Web3 firm Modex.
News - FIFA just made its boldest Web3 move yet. On May 22, the world football governing body announced it’s building its own blockchain, a dedicated Layer-1 chain on Avalanche, to migrate its FIFA Collect platform and scale its digital collectibles ecosystem.
The Avalanche-powered chain will replace FIFA’s former home on Algorand, enabling support for EVM-compatible wallets like MetaMask and promising better performance, lower fees, and customizable features via AvaCloud. FIFA Collect will be the first live application on this chain.
Modex, the company managing FIFA’s Web3 strategy, is developing the infrastructure. “This migration lets us deliver unique collectibles and immersive fan experiences,” said Modex CEO Francesco Abbate. “It also gives us the foundation for long-term growth.”
From NFTs to full fan ecosystem - FIFA’s digital ambitions go far beyond trading cards.
FIFA Collect Drops will continue to feature player NFTs and iconic moments
More apps and assets are expected, though details remain under wraps
In 2024, FIFA launched FIFA Rivals, a mobile NFT-based football game in partnership with Mythical Games
Avalanche’s John Nahas called the move “a milestone for real-world blockchain adoption,” noting that FIFA’s massive global audience positions it to set the tone for sports-based Web3 integration.
What’s next? - With its own chain, FIFA now controls the infrastructure, UX, and wallet layer, key for expanding globally. The playbook is clear: scale Web3 into every football fan’s digital life. And with Avalanche under the hood, that pitch is primed for speed.
More stories from the crypto ecosystem
Interesting facts
China's national-level decentralized identifier system, RealDID, officially launched in December 2023, is undergoing trials in Hong Kong as of November 2024. This blockchain-based system allows Chinese residents to verify their identities across borders while maintaining anonymity, facilitating regulated stablecoin and tokenized financial product transactions without physical IDs.
In March 2025, Pakistan established the Pakistan Crypto Council (PCC) to oversee and promote blockchain technology and digital assets within the country. The council appointed Binance co-founder Changpeng Zhao as a strategic adviser, signaling Pakistan's commitment to integrating into the global crypto economy.
Bitcoin surged to an all-time high of $111,816, fueled by investor optimism surrounding impending U.S. cryptocurrency regulations. The proposed GENIUS Act, aiming to establish a federal framework for stablecoins, has invigorated market sentiment, leading to over $3.6 billion in inflows to U.S. Bitcoin ETFs this month.
Top 3 coins of the day
Hyperliquid (HYPE)
Key points:
At press time, HYPE was trading at $31.01, up 9.51% over the last 24 hours.
It broke above the $30 resistance level, marking a fresh multi-month high.
What you should know:
HYPE extended its bullish streak with a near 10% intraday rally, pushing through the psychological $30 mark and reaching its highest level since February. The move was fueled by record-breaking growth on the Hyperliquid platform, including $8.9 billion in open interest, $5.4 million in daily fees, and $3.2 billion in TVL. The surge in attention was amplified by a crypto whale placing a $1.1 billion 40x BTC long on the platform, boosting interest in the ecosystem. The breakout was technically backed by a clear Bollinger Band expansion and strong trend confirmation on the DMI, with the +DI spiking above 33 and the ADX exceeding 50. If momentum continues, HYPE could target the next resistance around $35. A pullback may find support at the Bollinger Band midline near $24.80.
Fartcoin (FARTCOIN)
Key points:
At press time, FARTCOIN was trading at $1.53, up 9.34% over the last 24 hours.
It broke out of its recent consolidation range, touching its highest level since early May.
What you should know:
FARTCOIN surged by over 9% after breaking out of a multi-week range, driven by strong volume and bullish momentum. The move was accompanied by a 300% 90-day spike in trading activity, with RSI climbing to 64, just below overbought territory. The rally gained further traction as traders began eyeing a potential retest of the $2.00–$2.60 zone, near its previous all-time high. While smart money wallets reportedly began profit-taking during the rally, momentum indicators remained in bullish territory. The Parabolic SAR also stayed firmly below the price, signaling continued strength. If the uptrend holds, FARTCOIN could next target $1.70–$1.85. On the downside, immediate support lies near $1.30 in case of a pullback.
Ethereum (ETH)
Key points:
At press time, ETH was trading at $2,648, up 3.76% over the last 24 hours.
It extended its consolidation breakout, holding firm above the $2,600 zone.
What you should know:
Ethereum added nearly 4% on the day, reinforcing its bullish structure after flipping the $2,400 resistance into support. The Supertrend indicator has remained in a “Buy” signal since the breakout from $2,100 earlier this month. The recent move was supported by whale accumulation and institutional inflows, including a $120 million weekly influx into ETH-focused funds and a $8.42 million ETH purchase by blockchain firm BTCS. Traders are also eyeing a CME futures gap at $3,000, historically known to attract price action, especially with Bitcoin trading at new all-time highs. Meanwhile, ETH’s exchange reserves have dropped to their lowest since August 2024, signaling strong long-term holding sentiment. RSI hovered near 73, indicating strong momentum but nearing overbought territory. If bulls maintain control, ETH could target resistance around $2,750. A break below $2,500 could reopen the path toward $2,400.
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