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Today’s biggest gainers and losers Gainers: rain:native solana:METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta $REQ ethereum:0x163f8c2467924be0ae7b5347228cabf260318753 ethereum:0x050362ab1072cb2ce74d74770e22a3203ad04ee5 Losers: $MONJI ethereum:0xdb6ba5d510f114f9b2ea08bea7d30e32eee33411 ethereum:0xf280b16ef293d8e534e370794ef26bf312694126 xphere:native $GUA

Stablecoins just hit $322B, now larger than the FX reserves of 95 nations. With the GENIUS Act now law and the CLARITY Act moving through the Senate, stablecoins are entering a new regulatory era. Crypto’s settlement layer is quickly becoming one of the fastest-growing dollar markets in the world.

SpaceX is reportedly targeting a $75B–$80B IPO raise at a ~$1.75T–$2T valuation. That would be over 2x larger than Saudi Aramco’s record $29.4B proceeds. The largest IPO in history is just weeks away.

🧵 Thread: Market Recap - May 22, 2026 Markets closed green across the board today, but the tape told a more interesting story underneath. Small caps led. Mega-caps split. Crypto-beta cracked late and a new Fed Chair got sworn in. Here's what actually mattered 👇

We highlighted hyperliquid:native in our Alpha Report #55 on March 12, 2026 when it was sitting around $37. What we reported then: - Arthur Hayes published his “HYPE Man” thesis, setting a $150 target by August 2026 and calling HYPE his largest liquid altcoin bet, driven by 97% of protocol fees going to buybacks and burns. - HIP-3 permissionless markets crossed $1.2B in open interest, with crude oil futures doing $1.99B in 24h volume as traders move to Hyperliquid’s 24/7 onchain orderbook during geopolitical volatility. - Even Hayes’ bearish case gives HYPE a $58 target, implying 75% upside, while revenue sits at an $843M annualized run rate and needs only a 4% market share gain to revisit its $1.4B peak run rate.

Fed rate hike odds are rising with a 0% chance of a rate cut April: 4.1% chance of a hike June: 9.5% chance of a hike

BREAKING: $TAO up over 10% today This move traces back to March 20 when Nvidia CEO Jensen Huang reacted to Bittensor’s tech, highlighting it as a global network of computers working together to train AI.