Crypto News Today (May 3): Bitcoin Touches $79K, LUNC Pumps Another 20%, XRP Holder Gets Clarity Act Reassurance

Bitcoin touched 79K today but then reversed back to 78K. It looks like $79K is acting as strong resistance for now. It is the weekend, so not a lot of news is out there, but there is definitely some worth covering. As you know at AxiomFinity, we do crypto news roundups on a daily basis to help you understand the market better.

LUNC is again a top crypto gainer today with another 20% pump. This has been LUNC’s week all along.

Kamilah Stevenson Reassures XRP Holders: “XRP Does NOT Need the CLARITY Act”

Crypto lawyer Kamilah Stevenson has a clear message for XRP holders worried about the CLARITY Act stalling in Congress. She acknowledges predictions that the bill might die due to political gridlock, investigations, or other legislative fights. Many in crypto see the CLARITY Act as important for industry-wide progress. But Stevenson’s core point is simple: XRP does not need it.

Unlike most other cryptocurrencies, XRP already has strong regulatory clarity from its long legal battle with the SEC. A federal judge ruled that XRP itself is not a security when sold on exchanges to the general public. That ruling stands. The SEC and CFTC have acknowledged it in certain contexts. Stevenson emphasizes: “When these lawyers say the Clarity Act probably will not pass, that hurts the broader crypto industry. It does not change anything about XRP. The asset that you hold is positioned differently than every other asset in this space because of what they fought and won.”

She also highlights real-world progress happening independently of U.S. legislation: Ripple Prime operating inside DTCC clearing, Société Générale putting a regulated euro stablecoin on the XRP Ledger, pilots in South Korea, and live production payments in Japan that are roughly 60% cheaper than SWIFT. Her message is calm and confident: don’t let the noise shake your conviction. XRP’s legal win is locked in.

Bitcoin TD Sequential Flashes First Major Bearish Signal of the Year

Analyst Ali Martinez tweeted that a new sell signal has just flashed for Bitcoin. The Tom DeMark (TD) Sequential indicator is showing trend exhaustion on the 3-day chart, marking the first major bearish pivot of 2026. This setup anticipates a 1-to-4-candlestick correction on the 3-day timeframe.

Source: X/@alicharts

However, if BTC fails to stabilize and drops decisively below 67,500, it could trigger a new bearish countdown, potentially extending the correction. The recent sell signal follows a highly successful buy signal from early February, which accurately predicted a move from $60,000 to near $80,000. While the macro trend remains constructive, the TD Sequential is a high-authority timing tool. For risk management, 67,500 is the primary floor to watch for trend validation.

Other Crypto News Today

Solana Co-Founder Anatoly Yakovenko stated that the biggest risk is that post-quantum cryptography (PQC) signature schemes could be cracked by AI. He noted that the industry lacks full understanding of both mathematical vulnerabilities and hidden deployment dangers.

He suggested providing 2/3 multi-signature wallet support or native support via Program Derived Addresses (PDAs) in transaction processors.

Taiwan Central Bank Faces Digital Asset Reserve Deadline

Taiwan’s central bank has 30 days to deliver a digital asset reserve report to the legislative yuan. Taiwan holds the 4th largest foreign exchange reserves on earth at $602 billion. Even a 0.1% allocation would mean roughly $602 million in Bitcoin purchases. With 23 nations now running sovereign accumulation strategies, a 1% allocation could absorb 9 weeks of spot ETF inflows in a single move. The May deadline is binary.

LUNC’s 20% Pump – The Reality Behind the Burn

LUNC burned 247 million tokens in 24 hours as LUNC's price pumped another 20%. But the math is sobering: total supply is 5.51 trillion tokens, so that burn removed only 0.0045% of circulating supply. At that rate, it would take more than 60 years to burn 1%. The token is up 118% in 30 days on this narrative – a dead chain with a bankrupt parent company, a founder serving 15 years for fraud, zero development activity, and a $471 million market cap. Burn announcements are the only catalyst. When those slow down, there is no floor.

All in all, Bitcoin teased 79K but reversed to 78K. LUNC continues its meme-like run on burn hype. XRP holders get a clear message: the CLARITY Act does not change XRP’s legal status. Taiwan’s potential Bitcoin reserve and Solana’s post-quantum warnings add depth to a quiet weekend news cycle.

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