Ethereum spot ETFs logged a $65.65 million net weekly outflow, the largest weekly withdrawal since January, with no day showing fresh inflows. Withdrawals were steady throughout the week, with the biggest single-day outflow on Tuesday, May 12, when funds shed $130.62 million in 24 hours.

On May 16, a newly created wallet opened a 10x leveraged long in dogecoin for 20 million DOGE, valued at $2.25 million, with liquidation set at $0.10284. With DOGE trading near $0.1086, the liquidation level sits under 10% below spot, tightening downside room. Separately, large holders have accumulated a record 108.52 billion DOGE while the price consolidates below $0.12.

Ethereum fell below $2,200 after repeated failures near $2,400, while the ETH/BTC ratio slipped under 0.028, marking a 10-month low. Analysts pointed to heavy exchange inflows—more than 500,000 ETH over the past week—as a potential source of added selling pressure. Bullish voices, however, argued ETH could rebound from diagonal support on the 8-hour chart as some long-term holders resume buying.

XRP is again challenging the $1.54 resistance after consolidating between $1.30 and $1.45, with trading volume frequently ranging from $2.3 billion to $4.3 billion. Active addresses climbed toward 48,453 (highest since March 30) and network growth hit 3,317 new wallets (highest since March 19), while whale positioning remained comparatively stable even as retail leverage and liquidations added volatility risk.

VanEck and Grayscale have updated their S-1 registration filings for a proposed U.S. spot BNB ETF, a move that Bloomberg ETF analyst James Seyffart said points to active SEC engagement. After the updates, some large holders reportedly rotated out of $50M in Ethereum into BNB, while BNB traded at $660 at press time.

XRP has repeatedly tried to break out of its consolidation in May but was rejected after brief rallies, including a move to $1.55 on May 15, 2026. Analysts highlighted $1.51 and then $1.82 as the main resistance levels that would need to give way for a stronger bullish continuation, while others still frame price action as a range between $1,30 and $1.55.

CME Group and Intercontinental Exchange (ICE) have reportedly urged U.S. authorities to place Hyperliquid under federal oversight, a move the crypto community and the Hyperliquid Policy Center opposed. After the report, Hyperliquid's HYPE token fell from around $46 to $41.49 by May 16 at 3:05 a.m. EDT, a nearly 9% decline. Arthur Hayes also posted a profane rebuttal aimed at CME and ICE while voicing support for HYPE.

XRP pulled back after failing at $1.55 and has fallen more than 7% over the past three days while still tracking an ascending trendline. MCO Global said May 15 that holding $1.40 could keep another push toward $1.55–$1.58 in play, while losing it may open a drop to $1.37 and then $1.30.