Recent cryptocurrency industry developments span institutional forecasts, security vulnerabilities, and new financial products. Among the major updates, banking institution Citi has revised its 12-month bitcoin price target to $113,000, representing a 37.8% increase from previous forecasts.
Citi analyst Alex Saunders cited favorable activity, macroeconomic conditions, and exchange-traded fund (ETF) flows for the revised target, while also projecting $5 billion in cryptocurrency investment product inflows over the next 12 months as financial advisors gradually increase allocations. Additionally, the bank set an Ethereum price target of $3,028, marking a 31% jump.
In product news, Bitwise launched a U.S.-listed NEAR exchange-traded fund. The new product offers spot exposure to the token alongside staking rewards yielding roughly 5%.
The week also brought significant infrastructure challenges. NEAR Intents temporarily halted services after a bug involving its Omni deposit and withdrawal infrastructure interaction with smart contracts led to an estimated $3.8 million loss. The incident was isolated to NEAR Intents and did not involve the underlying NEAR network or token.
Separately, Zano disclosed the details of a bug that forced an extraordinary 30-day blockchain rewind following the illicit minting of over $200 million in tokens.
Finally, the TRUMP meme coin team announced the return of its holder gala, featuring 185 seats and VIP gold watches. The token has traded near $2 following its launch in January 2025.
