DeepFlowTech

Deep Tide TechFlow News. On May 20, independent analyst Markus Thielen analyzed that HYPE has become one of the strongest-performing tokens in the crypto market since the outbreak of the Iran conflict, with a cumulative rise of over 100% from its 2026 low, and its excess returns versus Bitcoin are especially notable. The core driver behind its strong performance is that the Hyperliquid exchange has continued to expand into asset categories beyond crypto, launching TradFi-linked products such as oil and SpaceX perpetual contracts one after another, attracting large inflows of capital.
Markus Thielen noted that this trend reflects how crypto exchanges are accelerating their positioning in high-volatility, trend-driven traditional finance derivatives, and that the value of crypto infrastructure itself is gradually surpassing the crypto narrative. Although HYPE is already a token in the market with a relatively high level of bullish crowding, its momentum continues to stand out.

Bitcoin Depot, the world's largest cryptocurrency ATM operator, filed for bankruptcy protection in May, suspending 9,700 machines. Stricter regulations, limits and licensing restrictions, and rising compliance costs have led to nearly a 50% revenue decline over the past six months, triggering multiple lawsuits and high legal expenses. In 2025, scam losses reached $389 million, prompting upgrades to KYC procedures. An ICIJ/CNN investigation revealed multiple scam transactions on in-store devices at Circle K, with Circle K remaining unaware but continuing to renew contracts.

By Xiao Bing, Deep Tide TechFlow
On May 19, during trading, the yield on the U.S. 30-year Treasury surged to 5.177%, the highest level since August 2007.
The last time the official coupon on the 30-year U.S. Treasury hit 5% was also in August 2007. Two months later, two hedge funds under Bear Stearns collapsed, ushering in the subprime mortgage crisis. This doesn’t mean history will necessarily rhyme, but when the world’s largest, deepest market—famed as a “risk-free asset”—pulls yields back to levels seen on the eve of the financial tsunami, you’d better figure out exactly what’s going on.
What’s even more alarming is that this time, it’s not just the United States.
It’s not just the U.S. going up—everyone around the world is dumping.
If it were only the rise in U.S. Treasury yields, the story would still be straightforward: market expectations for inflation, expectations for Federal Reserve rate hikes—just that.
But what has happened over the past week, the volume…

The total market value of RWA has surpassed $65 billion, up from $45 billion at the beginning of the year, an increase of 44%. Ethereum leads with approximately a 33% share, solidifying its default position in institutional tokenization through deep liquidity and mature tools. Provenance Blockchain accounts for about 27%, with Figure Lending serving as the core anchor. BNB Chain, XRP Ledger, and Solana each hold around 6%, actively deploying institutional-grade infrastructure.