Bitcoin (BTC) closed the week 3.32% up, while Ethereum (ETH) marginally outperformed, closing the week up 4.23% from the week prior. Total crypto market cap climbed 2.3% from $3.041T to end the week at $3.113T.
The week’s liquidation data continue to remain uneventful, with most days seeing total liquidations under $250M. Funding rates also highlight lowered risk appetites, with funding rates on most cryptocurrency majors falling into the low negative range, perhaps indicating a buildup of short positions on cryptocurrency majors.
📌 Strategy has acquired 15,355 BTC for a total of $1.42B at an average of $92,737 per Bitcoin.
📌 BlackRock has filed for a blockchain-powered share class known as “DLT Shares” for their $150B Treasury Trust Fund.
📌 Coinbase Asset Management annnounces a new fund which seeks to generate a yield of 4-8% on Bitcoin holdings held by Coinbase customers.
The week’s liquidation data continue to remain uneventful, with most days seeing total liquidations under $250M. Funding rates also highlight lowered risk appetites, with funding rates on most cryptocurrency majors falling into the low negative range, perhaps indicating a buildup of short positions on cryptocurrency majors.
📌 Strategy has acquired 15,355 BTC for a total of $1.42B at an average of $92,737 per Bitcoin.
📌 BlackRock has filed for a blockchain-powered share class known as “DLT Shares” for their $150B Treasury Trust Fund.
📌 Coinbase Asset Management annnounces a new fund which seeks to generate a yield of 4-8% on Bitcoin holdings held by Coinbase customers.
Narrative of the Week 📰
Stablecoins and payments continue to form a dominant narrative in crypto, being one of the few proven use cases for the asset class.
📌 Stripe announces an upcoming stablecoin product, powered by Bridge, for businesses outside of the US, EU and UK.
📌 MasterCard announces their end-to-end capabilities for stablecoin transactions, with partnerships with OKX, Neuvi, Circle and more.
📌 Paypal partners with Coinbase to expand adoption of their stablecoin PYUSD. In the same week, the SEC dropped investigations into PYUSD.
Stablecoins and payments continue to form a dominant narrative in crypto, being one of the few proven use cases for the asset class.
📌 Stripe announces an upcoming stablecoin product, powered by Bridge, for businesses outside of the US, EU and UK.
📌 MasterCard announces their end-to-end capabilities for stablecoin transactions, with partnerships with OKX, Neuvi, Circle and more.
📌 Paypal partners with Coinbase to expand adoption of their stablecoin PYUSD. In the same week, the SEC dropped investigations into PYUSD.
Major Project Updates 🗓️
📌 Shady insider deals between former Movement Labs founder, Rushi Manche, and a rogue market maker for Movement Labs comes to light after suspicious price action during its launch and a ban from Binance.
📌 WorldCoin introduces World Card, allowing verified humans to spend crypto-to-fiat via the World App anywhere where Visa is accepted.
📌 ETH restaking protocol, EtherFi, announces EtherFi Ventures, a $40M venture fund, with their first three investments including Resolv Labs, Rise Chain and Symbiotic.
📌 Shady insider deals between former Movement Labs founder, Rushi Manche, and a rogue market maker for Movement Labs comes to light after suspicious price action during its launch and a ban from Binance.
📌 WorldCoin introduces World Card, allowing verified humans to spend crypto-to-fiat via the World App anywhere where Visa is accepted.
📌 ETH restaking protocol, EtherFi, announces EtherFi Ventures, a $40M venture fund, with their first three investments including Resolv Labs, Rise Chain and Symbiotic.
Ripple Approved in UAE to Enter $400B Trade and $40B Remittance Markets. https://x.com/CryptokaGyan/status/1918556826720747937
ETF FLOWS: Zero outflows reported on May 2.
BTC spot ETFs saw $675M in net inflows.
ETH spot ETFs saw $20.1032M in net inflows
BTC spot ETFs saw $675M in net inflows.
ETH spot ETFs saw $20.1032M in net inflows
Arcblock up 17.25% in last 24 hrs
https://x.com/arcblock_io/status/1918872521056624790?s=46
AI Gems are on adoption and many new features are coming. It is a category which can be the front runner this season.
Pick your bets.
https://x.com/arcblock_io/status/1918872521056624790?s=46
AI Gems are on adoption and many new features are coming. It is a category which can be the front runner this season.
Pick your bets.
🔥Trading U.S. stocks on a crypto exchange? Apparently, as early as July.
Bybit CEO Ben Zhou announced today that the exchange plans to launch full-fledged trading of stocks, gold, and oil by the end of this quarter (which means already in June).
Ben noted that tokenizing stocks is the next big step in RWA (Real World Assets), and Bybit is focusing its efforts in that direction.
Previously, Kraken also announced similar plans, though exclusively for U.S. clients.
With regulatory easing in the States and a new (pro-crypto) SEC head coming in, this could become the next big trend. We might finally be able to forget about all those shady brokers with terrible trading interfaces, clunky apps, freezes, and so on.
Bybit CEO Ben Zhou announced today that the exchange plans to launch full-fledged trading of stocks, gold, and oil by the end of this quarter (which means already in June).
Ben noted that tokenizing stocks is the next big step in RWA (Real World Assets), and Bybit is focusing its efforts in that direction.
Previously, Kraken also announced similar plans, though exclusively for U.S. clients.
With regulatory easing in the States and a new (pro-crypto) SEC head coming in, this could become the next big trend. We might finally be able to forget about all those shady brokers with terrible trading interfaces, clunky apps, freezes, and so on.
🚨 BITCOIN To $96K be READY for the ALTCOINS SEASON in 2025 🚀- Top 3 Signs of ALTCOIN SEASON Coming 🤑
Watch Now: https://youtu.be/KakhG91xa5Y
Watch Now: https://youtu.be/KakhG91xa5Y
🇲🇻 Maldives to build $9 billion blockchain hub to attract global investors.
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Coinbase unveils new Bitcoin commercial.