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Around $2.7 billion worth of Bitcoin and Ether options are scheduled to expire on May 24, offering valuable insights into market sentiment within the crypto sphere.

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.