ArbitrumDAO has selected Franklin Templeton, Spiko, and WisdomTree as STEP 2 partners, allocating 35 million ARB to their tokenized U.S. Treasury offerings.
The Arbitrum Foundation has announced that ArbitrumDAO will allocate 35 million ARB to tokenized U.S. Treasury offerings from Franklin Templeton, Spiko, and WisdomTree as part of the next phase of its Stable Treasury Endowment Program.
Following a competitive request-for-proposal process that reviewed more than 50 applicants, the DAO approved the following allocations for STEP 2:
35% to Franklin Templetonâs FOBXX (tokenized as BENJI)
35% to Spikoâs USTBL
30% to WisdomTreeâs WTGXX
STEP is ArbitrumDAOâs flagship initiative to strategically diversify its treasury into real-world assets (RWAs). The programâs initial investment, exceeding $30 million, has already generated approximately $700,000 in yield from products including BlackRockâs BUIDL, Ondoâs USDY, and USDM from Mountain Protocol.
âHaving organizations like Blackrock, Franklin Templeton, Spiko, and Wisdom Tree interacting with a DAO publicly in a forum is an unbelievable accomplishment for the whole crypto space,â said Matthew Fiebach, Co-Founder of Entropy Advisors.
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Each selected issuer offers tokenized, regulated exposure to short-term U.S. Treasuries, providing ArbitrumDAO with both on-chain liquidity and compliance-aligned security for its treasury reserves.
âSince launching the first tokenized UCITS funds on public blockchains in mid-2024, Spiko has rapidly become Europeâs leading tokenization platform, with over $260 million in assets under management. Our ambition is to build the leading treasury management fintech on Arbitrum,â said Paul Adrien, CEO of Spiko.
ArbitrumDAO has positioned itself as a frontrunner in real-world asset adoption, with more than $45 million deployed across eight issuers and over $240 million in RWAs currently live on Arbitrum-powered platforms, a more than 50x increase compared to last year.
âBy leveraging Arbitrumâs leading Layer 2 technology, we are able to deliver faster, more scalable, and cost-efficient solutions to our clients. This collaboration not only strengthens our commitment to innovation but also positions us at the forefront of the next generation of financial services infrastructure,â said Roger Bayston, Head of Digital Assets at Franklin Templeton.
In addition to addressing idle capital inefficiencies, Arbitrumâs STEP program is laying the groundwork for broader diversification across new asset classes, including early-stage ventures, commodities, and credit strategies.
The Dogecoin price has consolidated in the past few weeks, even as on-chain data points to whale accumulation.Â
At last check Sunday, Dogecoin (DOGE) was trading at $0.1743, a range it has remained stuck at in the past few days. This price is about 36% above the lowest level this year.Â
On-chain data compiled by Santiment shows that large investors have continued to accumulate the coin. DOGE holders with between 1 million and 10 million coins have increased their holdings from 10.3 billion in March to 10.5 billion today, a 200 million increase.Â
Similarly, larger holders with between 100 million and 1 billion coins have increased their positions from 23.4 billion in March to 25.52 billion. Whale accumulation, especially in a bear market, is seen as a positive catalyst for an asset.Â
These whales have bought the coin, potentially anticipating a spot DOGE ETF approval by the Securities and Exchange Commission. The odds of that approval are high because Dogecoin is a proof-of-work cryptocurrency, and the agency is not concerned that it is a security.
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DOGE whale accumulation | Source: Santiment
Dogecoin price has stalled for two main reasons. First, there are signs of a rotation from traditional memecoins to newer ones on the Solana ecosystem. Its sluggish performance happened as top Solana meme coins like Fartcoin (FARTCOIN) and Popcat (POPCAT) surged.Â
Second, Elon Musk has hinted that he will scale back his work for the Department of Government Efficiency as the Tesla stock has crashed. Exiting the DOGE project will not have a direct impact on Dogecoin. However, it may hurt sentiment among investors.Â
Dogecoin price technical analysis
DOGE price chart | Source: crypto.news
The daily chart reveals that the DOGE price has moved sideways in the past few weeks. It has formed a symmetrical triangle pattern whose two lines are about to converge.
This triangle is happening after the coin crashed from $0.4815 in December. As such, there is a risk that it has formed a bearish pennant pattern.Â
Therefore, the Dogecoin price may soon have a bearish breakdown, potentially to support at $0.10, which is down 43% from the current level. This bearish outlook will be invalidated if it moves above the 50% retracement level at $0.2796.
Dogecoin was created in December 2013 by Billy Markus and Jackson Palmer. The two software engineers were reportedly inspired by the popular âDogeâ meme featuring a Shiba Inu dog. The coin, formed using Litecoinâs codebase, has seen surges in popularity thanks in part to endorsements from Tesla CEO Elon Musk.
Read more:Top 3 reasons Bitcoin price will soar to a new all-time high
Bitcoin and altcoins have traded within a tight range recently as investors position themselves for June, which is historically one of the worst months for cryptocurrencies.
Bitcoin (BTC) was trading at $105,000, while the market capitalization of all coins has dropped from $3.6 trillion to $3.3 trillion.Â
If history repeats itself, this may be a tough month for the sector. As such, one of the common approaches is to consider altcoins with high staking yields to offset falling or stagnant prices. This article looks at the top three altcoins to buy with a staking yield of over 10%.
IOTAÂ
IOTA (IOTA) is one of the top altcoins to buy for its staking yield. StakingRewards data shows that it has a staking yield of 14%, higher than most dividend stocks, exchange-traded funds, and government bonds.
IOTA activated staking in May when it launched the Rebased upgrade,which transitioned it into a proof-of-stake network. It also introduced superior speeds and full decentralization.Â
IOTA has a staking market cap of over $375 million, representing 43% of its market capitalization. It has seen a staking inflow of 212 million tokens worth $39 million in the last 30 days.
The main issue with IOTA is that its ecosystem remains negligible a month after the Rebased upgrade.
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BittensorÂ
Bittensor (TAO) is another top altcoin to buy for income investors. It is one of the leading AI tokens, with a market cap of over $3.4 billion and a staking valuation of $2.4 billion. It offers a staking yield of 17.3%, meaning that a $10,000 investment would generate a $1,730 annual return.
Bittensor is seen as an AI token because it is a network designed to create a peer-to-peer marketplace for AI and machine learning models. TAO, its token, will likely do well as the AI industry continues growing.
PolkadotÂ
Polkadot (DOT), established by an Ethereum co-founder, is a top altcoin to stake, thanks to its 11% yield. It has a staking market cap of $3.5 billion, which is about 53% of its market capitalization.Â
Polkadot has strong fundamentals, especially with the ongoing transition to Polkadot 2.0, which is now in its final stage. The upgrade has made it easier for developers to build applications without going through the parachain auction.
Elastic scaling, the final stage of the transition, has already moved to Kusama, ahead of the implementation on Polkadot. Also, as crypto.news has written before here,DOT price has formed a triple-bottom, pointing to a rebound.Â
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Bitcoin and altcoin prices continued their recovery, and are on track for their best weekly close since January.
The Bitcoin (BTC) price has jumped for three consecutive weeks and is now28% above its lowest level this month.
Most altcoins have also jumped, with the best weekly performers being Official Trump (TRUMP), Sui (SUI), Dogwifhat (WIF), Fartcoin (FARTCOIN), and Stacks (STX). All these tokens have jumped by over 50% in the last seven days.Â
Other risky assets have also bounced back. The S&P 500, Nasdaq 100, and Dow Jones indices have all soared by more than 10% from their monthly lows.
Stocks and crypto prices have jumped as Donald Trump signaled he is ready to reach a trade deal. He also ruled out firing Jerome Powell, the Fed Chair, who has reiterated that interest rates will not be cut until inflation falls towards the 2% target range.
Bitcoin has also emerged as a safe haven as risks rose. While its performance lagged behind that of gold, it still outperformed American stocks.
Is it safe to sell Bitcoin and altcoins in May and go away?
âSell in May and go awayâ is a popular phrase in financial markets. It is based on the theory that stocks often underperform in May and during the summer months, as investors travel and stay away from the market.
Seasonality data indicates that Bitcoinâs average return in May is 7.95%, which is lower than the double-digit growth seen in the previous three months. As shown below, the second and third quarters are historically the worst-performing periods for Bitcoin.
Bitcoin seasonality chart | Source: CoinGlass
Analysts have a mixed outlook for Bitcoin and other altcoins as the recovery continues. In a note, Nansen warned that the ongoing rally could be due to the Fear of Missing Out, which normally happens ahead of a local top.Â
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Ki Young Ju, the founder of CryptoQuant, noted that Bitcoin has not yet broken out. Instead, it is in a wide range and could resume the downtrend unless it jumps above $100,000.
After I said the bull cycle was over, #Bitcoin dropped 10%âbut now itâs 10% above where it was when I made that call.I still think weâre moving within a wide range. If it breaks above $100K, Iâll gladly admit I was wrong. Until then, Iâm keeping an eye on the data for a fewâ¦â Ki Young Ju (@ki_young_ju) April 23, 2025
Other analysts are optimistic that Bitcoin could keep rising, citing the expanding M2 money supply and increasing institutional demand. Indeed, spot Bitcoin ETFs have continued to attract inflows, while firms like Cantor Fitzgerald and SoftBank have started investing in Bitcoin.
Bitcoin price technical analysis points to a surge
BTC price chart | Source: crypto.news
Technical analysis suggests that it may not be ideal to âsell Bitcoin and altcoins in May and go away.â The weekly chart shows that Bitcoin has formed an ascending channel and recently retested the lower side.
BTC has remained above the key support at $68,845, which marks the upper side of the previous cup and handle pattern. It has also stayed above the 100-day moving average, signaling that bulls are still in control.
Therefore, the coin will likely continue rising and possibly retest its all-time high of $109,285. A move above that level would point to further gains, potentially reaching $125,000.
The main catalyst for this would be progress in trade deals or negotiations with countries like China, South Korea, the European Union, and Japan. These deals could prompt the Federal Reserve to begin cutting interest rates, which would likely boost Bitcoin, altcoins, and stocks higher.
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