Edgen
Try Ed Free
Jason Wu - DeFi & Altcoin Reporter at Edgen

Jason Wu

DeFi & Altcoin Reporter

On-chain analytics, DeFi protocols, and token launches. Ran a validator node before getting into journalism. Reads Etherscan for breakfast.
Latest
DeFiDevCorp COO Parker White and Delphi Ventures founder Tom Shaughnessy sparked a bullish narrative around Solana's potential as core infrastructure for an AI-driven economy.

Solana to $500? Why 2 Prominent Investors See AI Upside

**Key Takeaways:** * A new narrative is building around Solana as a core infrastructure layer for the AI economy, cited by DeFiDevCorp's Parker White and Delphi Ventures' Tom Shaughnessy. * The AI token sector has rallied 17.1% week-over-week to a $22.3 billion market cap, with tokens like ICP and VVV seeing gains of over 50%. * The thesis is supported by tangible integrations, such as Bittensor (TAO) bridging to Solana to leverage its speed and liquidity for its decentralized AI network.
Jason Wu
·
May 12 2026
The MyDoge non-custodial wallet is rolling out its V3 upgrade, introducing decentralized finance (DeFi), gaming, and AI applications for Dogecoin holders.

MyDoge Wallet V3 Upgrade Adds 3 New Features for DOGE Holders

**Key Takeaways:** * The MyDoge non-custodial wallet is launching its V3 upgrade, integrating decentralized finance (DeFi), gaming, and artificial intelligence agents. * This update aims to expand Dogecoin's utility beyond a memecoin, creating an ecosystem for users to grow their DOGE holdings. * Dogecoin (DOGE) traded at $0.1106, up 1.53% in the 24 hours following the weekend announcement, according to data from Benzinga Pro.
Jason Wu
·
May 12 2026
PancakeSwap X, the perpetual trading arm of the BNB Chain-based DEX, now offers perpetual contracts for over 60 tokenized real-world assets, including Apple (AAPLX) and NVIDIA (NVDAX), with up to 25x leverage.

PancakeSwap X lists over 60 tokenized stocks on BNB Chain

**Key Takeaways** * PancakeSwap X has listed perpetual contracts for over 60 tokenized real-world assets (RWAs) on BNB Chain. * The new listings include trackers for major stocks like Apple (AAPLX) and NVIDIA (NVDAX), with the latter seeing $6.9 million in 24-hour volume. * These are price-tracking derivatives offering up to 25x leverage, not direct stock ownership, and are only available during US market hours.
Jason Wu
·
May 12 2026
The verified X account of Keith Gill ('Roaring Kitty') posted a Solana Pump.fun contract address after 16 months of inactivity, which led to immediate speculation that the account had been hacked.

Roaring Kitty X Account Sparks Hack Rumors With Solana Meme Coin Post

* The verified X account of Keith Gill, known as Roaring Kitty, posted a link to a new Solana meme coin after 16 months of silence, leading to immediate speculation the account was compromised. * The token, Red Kitten Crew (RKC), saw its market cap peak at $5.97 million on over $2.5 million in volume before retracing, fueled by the uncharacteristic post. * Traders noted the post's format and choice of a Pump.fun launch were sharp departures from Gill's historical focus on value investing and GameStop (GME) stock analysis.
Jason Wu
·
May 12 2026
A multi-signature wallet associated with the Ondo Finance project transferred 150 million ONDO tokens, valued at over $63 million, with a portion subsequently deposited to centralized exchanges Coinbase and Bybit.

Ondo Finance Moves $64 Million in ONDO With $9 Million Sent to Exchanges

**Key Takeaways:** * An Ondo Finance multi-signature wallet transferred 150 million ONDO tokens, worth approximately $63.88 million, to a new address. * Following the initial move, 21.338 million of those tokens, valued at $9.15 million, were deposited into centralized exchanges Coinbase and Bybit. * Such large movements to exchange wallets are often interpreted by on-chain analysts as a potential precursor to selling, which could increase market supply.
Jason Wu
·
May 12 2026
The Solana-based meme coin RKC collapsed after an associated ‘Roaring Kitty’ X account deleted a post, with on-chain data showing the developer sold tokens for over $600,000.

Roaring Kitty-Linked RKC Token Plunges 90% as Developer Dumps Coins

* The Solana-based Roaring Kitty (RKC) token fell more than 90% after a related X account deleted a promotional post. * On-chain data from Solscan shows the RKC developer sold 395 million tokens for 5,051 SOL, worth approximately $493,000. * The same developer wallet also realized an additional 1,209 SOL ($118,000) in creator fees, bringing total proceeds to $611,000.
Jason Wu
·
May 12 2026
DeFi lending protocol MORPHO's Total Value Locked (TVL) reached $11.78 billion as of May 11, 2026, positioning it as the second-largest lender and a direct challenger to Aave's long-held dominance.

MORPHO TVL hits $11.78 billion to challenge Aave after exploit

* DeFi lender MORPHO became the second-largest protocol with $11.78 billion in total value locked. * The protocol absorbed users after a competitor, Aave, sustained a $200 million bad debt event. * Institutional adoption grows with a $940 billion asset manager set to acquire 90 million MORPHO tokens.
Jason Wu
·
May 12 2026
An on-chain address linked to the bankrupt FTX exchange and its trading arm Alameda Research has unstaked 199,000 Solana (SOL), valued at approximately $19.4 million.

FTX Estate Unstakes $19.4 Million in Solana Ahead of Potential Sale

**Key Takeaways** * An address linked to the FTX/Alameda estate unstaked 199,000 SOL, worth approximately $19.4 million, on March 11, 2025. * The move is a standard step in the ongoing bankruptcy process, converting staked assets into liquid tokens for future creditor repayments. * While the amount is small relative to daily volume, it is part of a larger liquidation of over 41 million SOL held by the estate.
Jason Wu
·
May 12 2026
The Ethereum Foundation unstaked 21,271 ETH worth approximately $49.66 million on May 11, 2026, as part of a planned treasury rebalancing to fund operations.

Ethereum Foundation Unstakes $49.6M ETH, Citing Treasury Rebalancing

**Key Takeaways:** * The Ethereum Foundation unstaked 21,271 ETH, worth approximately $49.66 million, on May 11 for operational liquidity. * The transaction originated from Lido staking positions and reduces the Foundation's staked holdings to around 52,965 ETH. * This move follows a similar $40 million unstaking in April, representing a continued treasury rebalancing strategy.
Jason Wu
·
May 12 2026
Data from CryptoQuant shows the Ethereum Estimated Leverage Ratio on Binance has fallen sharply from 0.76 to 0.57, indicating traders are pulling back on risk as ETH struggles with price resistance.

Ethereum leverage on Binance drops 25% as traders de-risk

**Key Takeaways:** * Ethereum’s estimated leverage ratio on Binance fell to 0.57, a sharp 25% drop from its recent peak of 0.76, indicating a significant reduction in derivatives risk-taking. * The decline in leverage coincides with Ethereum’s price testing the $2,450 resistance level after recovering from lows near $2,000 earlier in the year. * While leverage has cooled, funding rates remain mixed, suggesting that while long-term conviction has waned, short-term positioning continues to shift without a clear directional bias.
Jason Wu
·
May 12 2026
On May 11, 2026, the Flare network launched the second phase of its XRPFi infrastructure, enabling direct minting of XRP on DeFi without the need for a bridge and providing more vault choices.

Flare Network launches direct XRP minting in DeFi, targeting a $440 million ecosystem

**Key Takeaways:** * Flare Network’s XRPFi phase two is now live, enabling direct minting of XRP into FXRP on the Flare blockchain. * The upgrade removes the need for bridges, allowing users to send XRP from XRPL wallets directly to mint FXRP. * Phase one attracted over $200 million in TVL, and the new phase aims to expand XRP’s use in DeFi.
Jason Wu
·
May 12 2026
A Messari Research report highlights how Animecoin's (ANIME) 'content-first' strategy, centered on a trading card game and gacha mechanics, has successfully onboarded over 1 million users to its dedicated Animechain network.

Animecoin's content model gets 1 million wallets onchain, Messari reports

**Key Takeaways** * A Messari Research report details Animecoin’s (ANIME) strategy to build a consumer crypto business by prioritizing content and user experience. * The project’s Animechain network saw over 912,000 transactions and $239.8 million in volume during a single-day minting event on March 17. * Animecoin’s model uses a trading card game and ‘gacha’ mechanics, which have onboarded over 1 million users via a simplified wallet creation process.
Jason Wu
·
May 12 2026
Decentralized exchange Aster launched perpetual futures for four major Hong Kong-listed stocks, allowing traders to access them with up to 3x leverage directly from a crypto wallet.

Aster DEX Lists Perpetual Futures for 4 Hong Kong Stocks

**Key Takeaways** * Decentralized exchange Aster has listed perpetual futures for four Hong Kong stocks: Tencent, Xiaomi, Minimax, and Pop Mart. * The products allow traders to gain exposure to these equities with up to 3x leverage using only a crypto wallet, bypassing traditional brokerage accounts. * These perpetual futures provide economic exposure to the stocks' price movements but do not grant direct ownership, voting rights, or dividends.
Jason Wu
·
May 12 2026
On-chain analysts accuse large XRP holders of market manipulation after observing them strategically moving billions of tokens across major exchanges to influence price and target leveraged positions on May 11, 2026.

XRP Whales Move Billions in 24 Hours, Sparking Manipulation Fears

**Key Takeaways** * On-chain analysts report large XRP holders moving billions of tokens in a coordinated 24-hour blitz, triggering manipulation accusations. * The transfers appear designed to exploit thin liquidity and target leveraged traders, with funds moving to non-exchange wallets. * The activity comes as XRP struggles to clear key resistance, with analysts divided on whether it signals manipulation or large-scale accumulation.
Jason Wu
·
May 12 2026
Cardano's Van Rossem hard fork has entered its first live governance-driven activation stage, mandating an essential node upgrade to version 11.0.1 for all ecosystem participants to remain operational.

Cardano's Van Rossem hard fork enters activation, requires 1 node upgrade

**Key Takeaways** * Cardano's Van Rossem hard fork entered its first live governance-driven activation stage on the Preview network around May 11. * Intersect mandates all ecosystem infrastructure must upgrade to Node v11.0.1 to remain compatible after the hard fork boundary. * Cardano's ADA token traded at $0.278 following the news, up nearly 12 percent for the week but still within its recent range.
Jason Wu
·
May 12 2026
The price of Zcash (ZEC) fell to $550 on May 11, 2026, after a 33% weekly surge, creating uncertainty as traders weigh bullish fundamentals against bearish technical patterns.

Zcash holds 33% weekly gain despite dip to $550

**Key Takeaways** * Zcash (ZEC) fell to $550 on May 11 but retained a 33 percent week-over-week gain, highlighting significant market volatility. * Bullish drivers include a Robinhood listing, institutional buying from Multicoin Capital, and a technical breakout pattern targeting $900. * A bearish double-top formation near the $600-$700 resistance level threatens a major reversal, similar to the pattern that led to a 92% crash in 2021.
Jason Wu
·
May 12 2026
Amid broad market stress in 2025-2026, Solana's SOL token plummeted 71.6% from its high, highlighting a significant investor rotation into Bitcoin as a perceived safe haven.

Solana Drops 71% as Crypto Investors Seek Bitcoin Haven

**Key Takeaways** * Solana (SOL) price fell 71.6% from a high of $238 to a low of $67 during a period of significant market stress through 2025-2026. * The decline was part of a broader altcoin downturn where Bitcoin significantly outperformed assets like Ethereum, XRP, and BNB. * Despite the crash, the token later staged a 38% recovery from its bottom, with on-chain data showing underlying network resilience.
Jason Wu
·
May 12 2026
Exodus Movement Inc. reported a 37% drop in first-quarter revenue and a wider net loss driven by volatility in its digital asset holdings, missing analyst estimates.

Exodus Movement Q1 revenue falls 37% as loss widens on crypto holdings

**Key Takeaways:** * First-quarter revenue fell 37% year-over-year to $22.7 million, missing consensus estimates as exchange aggregation fees declined with lower user transaction volumes. * The company reported a net loss of $32.1 million, more than double the $12.9 million loss from a year ago, driven by a $36.4 million net loss on its digital asset holdings. * Exodus closed its acquisition of payments infrastructure firms Monavate and Baanx, a strategic move to diversify its revenue streams beyond the volatile crypto exchange market.
Jason Wu
·
May 12 2026
Real-world asset platform Centrifuge launched its tokenized S&P 500 index on the Base blockchain, supported by a multimillion-dollar investment from Coinbase.

Centrifuge brings tokenized S&P 500 to Base with multimillion-dollar Coinbase backing

**Key Takeaways** * Centrifuge launched its tokenization infrastructure on the Base network, debuting deSPXA, a tokenized S&P 500 index product. * Coinbase provided a multimillion-dollar investment, serving as a key backer for Centrifuge's expansion onto its Layer-2 network. * The integration allows institutional-grade real-world assets (RWAs) to become composable with DeFi protocols on Base, enabling 24/7 trading.
Jason Wu
·
May 12 2026
On May 11, 2026, MultiBank Group’s crypto division, mb.io, announced a partnership with Kings Orbis, EON3, and Mavryk to bring gold from Ghana on-chain.

MultiBank’s mb.io to bring Ashanti gold on-chain in new 4-way partnership

**Key Takeaways:** * MultiBank Group's crypto arm, mb.io, is partnering with three other firms to tokenize physical gold from Ghana. * Each token will be backed by physical gold vaulted in Dubai and represent direct ownership. * The program will run on the Mavryk Layer 1 blockchain, which has been integrated by mb.io for all RWA tokenization.
Jason Wu
·
May 12 2026

Your money person, finally.

Try Ed free. No credit card. No commitment.
Try Ed Free