The crypto market continues to evolve rapidly: Ethereum is nearing a critical support level, Kraken is expanding beyond crypto trading, and Trump’s administration is exploring Bitcoin as a reserve asset. The picture is further complemented by the potential approval of an XRP ETF and Mantra’s efforts to regain user trust. All of this may lay the foundation for a new wave of momentum in the crypto industry.
ETH: Key Support at $1,546 and a Chance for a Rebound
Ethereum has approached a crucial support level — $1,546. According to analysts, this is the price at which large holders (“whales”) acquired 822,440 ETH. This is a significant volume, signaling that capital-rich investors are willing to defend this level.
Meanwhile, around 368,000 ETH has been sent to exchanges over the past month — possibly indicating profit-taking or preparation for a potential sell-off. However, if the $1,546 level holds and whales don’t start dumping coins, the market may see a reversal signal.
Well-known trader Ali also pointed out a potential 17% increase in ETH’s price, provided the support holds. The coming days could be crucial for the second-largest cryptocurrency by market capitalization.
Kraken Launches Stock and ETF Trading
Crypto platform Kraken has officially launched a stock and ETF trading service for users in 10 U.S. states, including New Jersey, Connecticut, and Alabama. Clients can now trade over 11,000 stocks and ETFs listed on American stock exchanges with zero commission.
The service is integrated into Kraken’s main interface and allows users to manage stocks, cryptocurrencies, stablecoins, and fiat simultaneously. Features include fractional stock purchases and instant reinvestment after trades.
Kraken CEO Arjun Seethi emphasized that this step marks a key moment in bridging traditional and digital finance. The company plans to expand the service internationally to Europe, the UK, and Australia in the near future.
BTC as a U.S. Reserve Asset? Trump’s Team Explores Options
Bitcoin is gaining attention at the government level as well. Bo Hines, Donald Trump’s chief crypto advisor, said the administration is exploring budget-neutral strategies to acquire BTC for the national reserve. One option includes using revenue from import tariffs.
This could mark a revolutionary move in integrating Bitcoin into the official financial system of the U.S., especially if Trump returns to power. Such actions could give cryptocurrencies the status of a full-fledged financial instrument at the government level.
XRP ETF: Decision Expected by May 22?
Analysts at the research firm Kaiko believe that the U.S. Securities and Exchange Commission (SEC) may approve the listing of a spot XRP ETF by May 22. If this happens, XRP would become the next asset after Bitcoin to enter the regulated U.S. ETF market.
Such approval could significantly increase the token’s liquidity, attract institutional investors, and positively impact its value.
Mantra Prepares a Crisis Plan: Token Burn and Buyback
The Mantra project has announced the development of a token burn and buyback plan. The goal is to restore user confidence following a period of volatility and internal challenges. The team promises full transparency and regular reporting on all operations conducted under this strategy.
Such initiatives could serve as a strong example of crisis management for crypto startups, especially in light of recent incidents involving mismanagement and tokenomics failures.
Recent developments suggest a gradual revival of interest in the crypto market from both retail and institutional players. If key ETH support levels hold and the political and regulatory environment continues to lean toward digital assets, we could see the beginning of a new market cycle very soon.
