Is Monero the next crypto giant?

May 15, 2025

Reading time: 5 minutes

Monero defies market slump: Rallies 110%, outpaces BTC and memecoins

Key points:

  • Monero (XMR) has surged over 110% from April lows, climbing past $340 for the first time since 2021 and surpassing Pepe in market cap.

  • The rally is fueled by bullish sentiment around privacy upgrades, regulatory shifts, and speculation of major exchange relistings.

News - As Bitcoin bulls take a breather above $100K, Monero (XMR) has emerged as a standout performer. The privacy-focused coin extended its rally this week, gaining 4.6% to hit $347—its highest level since August 2021. XMR has now surged over 110% from its April low of $165, outperforming every top 100 token by market cap.

Monero’s market cap climbed to $6.43 billion, overtaking memecoin Pepe and securing the 29th spot on the global crypto leaderboard. Analysts cite several catalysts behind the surge: the advancing FIT21 legislation, easing U.S. regulatory concerns around privacy tokens, and the upcoming Full-Chain Membership Proofs (FCMP++) upgrade—a feature that boosts Monero’s quantum resistance by replacing ring signatures with enhanced privacy protocols.

HTX Research noted that regulatory ambiguity has prompted cautious inflows into privacy coins like XMR. On-chain metrics show a consistent rise in open interest since early May, suggesting increased investor participation and buying pressure.

Meanwhile, speculation is growing that major exchanges could soon relist Monero, amplifying the bullish momentum. Some traders even linked XMR’s recent spike to reports of $330M in suspected stolen BTC being laundered through Monero, highlighting its appeal for private transactions.

Overbought signs but more room to run? - Monero’s weekly RSI currently stands at 80, signaling strong bullish momentum but also a potential overbought condition. If the rally cools, a retest of $306.85—its 50% Fibonacci retracement level—could be in play. However, bulls may still aim for $356.59, aligned with the 61.8% retracement from its May 2021 high.

What’s next? - With regulatory headwinds easing and privacy upgrades on the horizon, Monero could maintain upward momentum—provided exchange support and retail interest continue building. However, traders should be wary of short-term corrections given current overbought levels.

Capital returns to Solana: Treasury buys and metrics hint at bullish comeback

Key points:

  • Solana’s 30-day realized cap inflows turned positive, signaling renewed buy-side conviction after weeks of outflows.

  • DeFi Development Corp. and Janover Inc. expanded their Solana holdings, with DFDV now the largest public holder of SOL.

News - After weeks of bleeding capital, Solana (SOL) is flashing early signs of a recovery. According to Glassnode, the network’s 30-day realized cap inflows have returned to positive territory—up 4–5%—suggesting that capital is cautiously re-entering the ecosystem. This shift may indicate that investor capitulation has run its course and conviction is making a comeback, even if price action hasn’t fully caught up.

Realized cap inflow tracks the USD value of tokens as they last moved on-chain, helping to filter out speculative noise. Solana’s turnaround on this front places it on par with XRP, a sign that buy-side pressure may be quietly building.

Meanwhile, institutional bets are reinforcing the bullish sentiment. DeFi Development Corp. recently added 16,447 SOL worth $2.3 million to its treasury, bringing its total holdings to over 609,000 SOL—valued at roughly $107 million. This makes DFDV the largest publicly traded SOL holder, with plans to stake the tokens across multiple validators, including its own.

Janover Inc. has also joined the fray, acquiring more than 80,000 SOL tokens in recent weeks and partnering with BitGo and Kraken to deepen its exposure to the Solana ecosystem. Both companies are leaning into long-term holding strategies that prioritize staking yield and decentralized infrastructure support.

Rally drivers: Firedancer and meme mania - Beyond institutional activity, Solana’s broader resurgence is also being fueled by anticipated upgrades like Firedancer, which promises transaction speeds of 1 million TPS, and renewed hype around Solana-based memecoins like BONK and WIF.

Open interest in SOL futures has climbed past $6 billion, suggesting traders are positioning for further upside. With price already up 35% this past month and currently hovering around $175, analysts see resistance near $217–$268.

What’s next? - If realized cap inflows continue rising and institutional demand holds, Solana could be on track to retest its prior highs. However, traders eyeing profits may want to watch the $268 resistance zone—a level that could determine whether SOL aims for $300 or pulls back to consolidate.

Jim Chanos flips on Bitcoin: Buys BTC, shorts Strategy stock in valuation play

Key points:

  • Noted short-seller Jim Chanos is long Bitcoin and short Strategy (formerly MicroStrategy), citing a valuation mismatch.

  • Chanos criticizes Strategy’s BTC proxy premium as retail-driven speculation, likening it to buying BTC for $1 and selling it for $2.50.

News - Famed short-seller Jim Chanos, best known for predicting Enron’s collapse, has made a surprising pivot: He’s now betting for Bitcoin (BTC)—and against Strategy (MSTR), the largest corporate holder of BTC.

Speaking at the Sohn Investment Conference, Chanos said he’s “selling MicroStrategy stock and buying Bitcoin,” calling it an arbitrage trade. The veteran investor sees Strategy’s stock as significantly overvalued, noting that it's essentially a corporate wrapper trading at a steep premium to Bitcoin’s spot value. “You’re buying something for $1 and selling something for $2.50,” said Chanos.

Chanos argued that Strategy’s value is inflated by retail speculation and its positioning as a BTC proxy. The company holds 568,840 BTC—worth around $59 billion—acquired through leveraged debt and equity issuance since 2020. Despite this, MSTR shares have surged by 3,500% in five years, now trading at $416 with a $115 billion market cap, outpacing Bitcoin’s own growth.

He noted that Strategy is selling “the idea of buying Bitcoin in a corporate structure,” and warned that other companies emulating this playbook are chasing a speculative premium rather than fundamentals.

From critic to contrarian bull - Chanos’ move marks a sharp turn from his past skepticism. In 2018, he labeled Bitcoin a “libertarian fantasy,” doubting its use in financial collapse scenarios. More recently, he blasted the crypto industry as “the dark side of finance” over illicit use cases and ETF fee structures.

Now, by buying BTC directly and shorting MSTR, Chanos signals a belief that Bitcoin has value—but that chasing it through corporate stocks could be an overpriced gamble.

What’s next? - While Chanos’ bet echoes rational skepticism of hype-driven valuations, it’s also a risky move. Short-sellers lost $3.3 billion betting against Strategy in 2024 alone. With Bitcoin above $100K and MSTR increasingly tied to macro sentiment, the spread between BTC and its corporate wrappers may stay wide—or snap back violently.

Coinbase rejects $20M ransom demand, braces for $400M fallout after insider phishing attack

Key points:

  • Coinbase refused a $20M ransom and instead offered a $20M bounty to catch rogue insiders involved in a major data breach.

  • The exchange expects up to $400M in reimbursement and remediation costs after user data was leaked via bribed support agents.

News - Coinbase is grappling with the aftermath of a major phishing attack orchestrated through bribed customer support contractors overseas. According to the company, external actors paid off rogue agents to extract internal data from the exchange’s systems—impacting less than 1% of its monthly active users.

The breach exposed personal details such as names, addresses, masked social security and bank information, and account snapshots. However, Coinbase emphasized that no funds, passwords, private keys, or Coinbase Prime accounts were compromised.

The attackers demanded $20 million in Bitcoin to keep the breach quiet. Coinbase not only refused the ransom, but flipped the script—offering a $20 million reward for information leading to the arrest and conviction of those responsible. “We will pursue the harshest penalties possible,” the exchange stated in its blog post dated May 15.

In its SEC 8-K filing, Coinbase estimated $180 million to $400 million in expenses related to “voluntary customer reimbursements” and security remediation. Affected users who were tricked into sending crypto to phishing attackers will be made whole, the company confirmed.

Fallout and fixes ahead of S&P 500 debut - Coinbase acted swiftly, firing the insiders involved and referring them to U.S. and international law enforcement. Preventive steps are now in motion, including red-team simulations, stricter ID checks, a new U.S.-based support hub, and enhanced scam alert features for flagged accounts.

The breach comes days before Coinbase is expected to join the S&P 500, potentially becoming the first crypto-native firm in the index—a moment now shadowed by a test of its security framework.

What’s next? - With law enforcement involved and blockchain analytics firms helping trace stolen funds, Coinbase is aiming to reclaim user trust. However, the incident highlights growing risks from insider threats and social engineering attacks—an issue the exchange says cost its users over $300 million annually.

Interesting facts

  • The International Energy Agency projects that cryptocurrency electricity consumption will increase by over 40%, reaching approximately 160 terawatt-hours by 2026. This growth reflects the rising energy demands of cryptocurrencies like Bitcoin and Ethereum.

  • On May 7, 2025, Arizona became the second U.S. state to create a cryptocurrency reserve fund. The newly signed legislation allows the state to hold unclaimed digital assets, including Bitcoin, aiming to maximize returns for asset holders.

  • Chainlink's latest report forecasts that the global tokenized asset market could reach $10 trillion by 2030. The growth is driven by institutional adoption, regulatory advancements, and the expansion of Ethereum's ecosystem.

Top 3 coins of the day

Monero (XMR)

Key points:

  • XMR climbed 2% over the past 24 hours to trade at $347, continuing its impressive multi-week rally.

  • The Awesome Oscillator remained strongly bullish, while the 9-day SMA trended upward in support of the rally.

What You Should Know:

Monero extended its bullish streak with a 2.03% daily gain, climbing to $347 after bouncing from an intraday low of $336. The privacy-focused token has rallied steadily since early May, driven by strong market interest and technical momentum. Volume remained healthy, suggesting that the uptrend may have further room to run. The 9-day Simple Moving Average (SMA) continued to serve as dynamic support throughout the climb, while the Awesome Oscillator printed green bars above the zero line, signaling sustained bullish strength. Moreover, Monero’s market cap recently surged to a four-year high, surpassing that of PEPE and marking a pivotal moment in its resurgence. Despite the rally, traders may want to watch for signs of exhaustion near the $360 resistance level, while support lies around the $325 zone in case of short-term pullbacks.

Bitget Token (BGB)

Key points:

  • BGB climbed 2.09% in the last 24 hours to trade at $4.85, showing signs of sustained recovery.

  • The RSI hovered near 62 while the 9-day SMA trended upward, indicating steady bullish momentum.

What you should know:

BGB extended its recent upward streak, rising by 2.09% over the past day to reach $4.85. This move continued a broader recovery seen over the last week. The Relative Strength Index (RSI) held at 61.54, suggesting room for further upside without entering overbought territory. Additionally, the 9-day Simple Moving Average (SMA) maintained its positive slope, reinforcing short-term bullish bias. From a fundamentals perspective, Bitget’s native token received a significant boost after TokenInsight awarded BGB an “A” rating, citing consistent growth, strong liquidity, and active user engagement. Analysts have flagged BGB as a potential mid-term buy, with the token’s sentiment remaining optimistic. Traders should monitor the $4.95–$5.00 range as the next resistance zone, while $4.65 may serve as a key support level in case of a short-term pullback.

Celestia (TIA)

Key points:

  • TIA dropped by 7.79% in the last 24 hours, sliding to $2.81 after a brief recovery run.

  • The Bollinger Bands widened while CMF stayed slightly positive, suggesting mixed momentum.

What you should know:

TIA saw its bullish recovery lose steam, falling by 7.79% over the past day to trade around $2.81. The recent drop followed a short-lived breakout rally that had pushed TIA above $3.00. Bollinger Bands expanded, reflecting heightened volatility, while the Chaikin Money Flow (CMF) remained marginally positive at 0.10, hinting at moderate accumulation. The price still hovered near the midline of the Bollinger Bands, offering some near-term support. The rally earlier this week was largely driven by a major catalyst—TIA’s listing on Upbit, one of South Korea’s largest exchanges, which had sparked a 13% surge in price. However, traders appear to be booking profits as the momentum cooled. For now, support lies near the $2.65 level, while a recovery above $3.00 would be crucial to reignite bullish sentiment.

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