1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BNB: 0.35%
BTC: -1.62%
ETH: -1.98%
DOGE: -4.06%
SOL: -1.40%
PEPE: -5.10%
TRUMP: -6.58%
XRP: 4.44%
SUI: -3.80%
LTC: 1.74%
PNUT: -6.17%
24 H increase list (data source: OKX):
GODS: 33.71%
DEGEN: 25.14%
GOG: 17.35%
NEIRO: 11.20%
VRA: 9.49%
MOODENG: 8.90%
NULS: 3.85%
LAT: 3.17%
PNUT: 3.02%
OKT: 2.17%
2. Top 5 popular memes on the chain (data source: GMGN ):
PIPE
Fartcoin
POPCAT
TRUMPE
DISTRIBUTE
3. 24-hour hot search currencies
IKUN: IKUN is a meme coin on the Solana chain. The token name IKUN comes from the fan group iKun of the famous Chinese artist Cai Xukun. The inspiration is drawn from his fan culture and Internet memes, such as Little Blackie. The IKUN token contract address is AtortPA9SVbkKmdzu5zg4jxgkR4howvPshorA9jYbonk. The token is mainly community-driven and has large price fluctuations. It is recommended to DYOR. Affected by the market heat, its market value has reached approximately US$10.88 million. (As of May 13, 2025).
Headlines
The United States retains an additional 10% tariff and cancels or suspends other tariffs
According to the Joint Statement of the China-US Geneva Economic and Trade Talks, the United States will amend the ad valorem tariffs imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as stipulated in Executive Order No. 14257 of April 2, 2025, among which 24% of the tariffs will be suspended for the initial 90 days, while retaining the remaining 10% tariffs on these goods as stipulated in the executive order; (ii) cancel the additional tariffs on these goods imposed pursuant to Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025.
China will (i) accordingly amend the additional ad valorem tariffs on U.S. goods as provided for in Tax Commission Announcement No. 4 of 2025, by suspending the application of 24% of the tariff for an initial 90-day period, while retaining the remaining 10% tariff on these goods and canceling the additional tariffs on these goods imposed pursuant to Tax Commission Announcements No. 5 and No. 6 of 2025; and (ii) take necessary measures to suspend or cancel the non-tariff countermeasures against the United States effective April 2, 2025.
The Ministry of State Security reported 3 typical cases of threats to national security. In one of them, Wang, a salesman of a medical device company, watched a video released by an anti-China organization abroad by chance. The anti-China organization not only released a large number of videos that smeared China, but also claimed that buying the virtual currency released by it could get a high return on investment. Blinded by the interests, Wang took the initiative to join the anti-China organization and bought virtual currency worth 10,000 US dollars. Little did he know that Wangs behavior had already constituted the illegal fact of funding anti-China organizations. In the end, the national security agency punished Wang in accordance with the law.
Truth Social denies rumors of launching new Memecoin
Trumps social platform Truth Social denied rumors of launching a new Memecoin, saying the rumors were false information.
Earlier news, people familiar with the matter said that Trumps company Truth Social tokens will be issued within 72 hours.
Well-known whale James Wynn posted on X that he has increased his long position in BTC. I personally expect the market to quickly drop to around 102,900 and form a needle bottom, which can not only clear some leverage, but also allow me to further increase my holdings. In any case, in my opinion, BTC will hit the 112,000-116,000 range as soon as today or tomorrow.
Bitcoin is currently about 4.5% below its all-time high of $108,786 in January. Vincent Liu, CIO of Kronos Research, said: Bitcoin is currently hovering near its all-time high, with strong technical momentum supporting its breakout above the 50-day and 200-day moving averages. The increasing number of institutional investors and optimistic expectations for the outlook for 2025 indicate that Bitcoin is expected to hit new all-time highs.
However, another analyst pointed out that Bitcoins relative strength index (RSI) shows that the cryptocurrency is in overbought territory. BTC Markets analyst Rachael Lucas said: This does not necessarily indicate an immediate market reversal, but it does increase the possibility of a cooling or sideways trend in the short term. A retest and consolidation above the key psychological level of $100,000 would be a healthy development and could set the stage for further gains.
Min Jung, research analyst at Presto, said: The recent rise in the cryptocurrency market has been driven by renewed optimism about the US-China trade negotiations. With Bitcoins dominance reaching levels before the 2021 bull run, we are now experiencing a classic rotation - capital begins to flow into altcoins.
Presto analysts added that Bitcoin’s chances of breaking out of its previous all-time highs could depend on how trade talks develop, while other rising geopolitical tensions remain a key variable.
Regulatory trends
South Korean presidential candidates clash over stablecoins
South Korean presidential candidates have engaged in a fierce debate over stablecoin policies. Lee Jae-myung, the candidate of the largest opposition Democratic Party, advocated on May 8 that a Korean won stablecoin market should be established as soon as possible, warning that otherwise there would be outflow of national wealth. The proposal was strongly opposed by Reform Party candidate Lee Jun-seok, who cited the Terra collapse in 2022, pointing out that the algorithmic stablecoin KRT had disastrous consequences due to the lack of real asset endorsement.
Lee Jae-myungs supporter and former lawmaker Kim Byung-wook countered that global regulators have clearly distinguished between algorithmic stablecoins and compliant stablecoins that are collateralized by cash/treasury bonds at a 1:1 ratio, and that Korean won stablecoins can reduce cross-border remittance costs. Industry insiders revealed that this is the first time that South Korean politicians have publicly debated technical issues on crypto assets, and the election results may determine the direction of the countrys crypto regulation. The general election will be held on June 3.
Stablecoin bill gets second reading at CNMI lawmaker
The Senate of the Northern Mariana Islands, a special district of the United States, voted 7-1 to overturn the governors veto of the stablecoin bill, and the island may get a second chance to launch a stablecoin. The bill allows local governments to issue the Marianas USD (MUSD) stablecoin, which is collateralized by the US dollar at a 1:1 ratio. If the 20-member House of Representatives overturns the veto again with a two-thirds majority, this small Pacific island with a population of only 2,000 may become the first jurisdiction in the United States to issue an official stablecoin, ahead of Wyoming (which plans to issue a coin in July). Democratic Congressman Celina Babauta opposed the bill on the grounds of lack of law enforcement resources, but Republican proposer Jude Hofschneider emphasized that blockchain technology can improve transparency in the industry. Marianas Rai, a technical partner, revealed that MUSD will be developed based on the eCash chain, with reserves in cash and US bonds.
According to market news: Dubai has signed a landmark agreement with Crypto.com, and it will become one of the first governments in the world to fully enable crypto payments for public services.
Industry News
BlackRock applies to offer in-kind redemptions for its Ethereum fund
BlackRock has applied to offer in-kind redemptions for its Ethereum fund, allowing it to buy back ETH directly.
According to the latest report released by the Bank for International Settlements (BIS), the vast majority of the approximately $600 billion in cross-border cryptocurrency transactions are driven by speculation rather than actual payment purposes. The report pointed out that these transactions are mainly concentrated in the exchange between stablecoins and other crypto assets, reflecting the sensitivity of market participants to price fluctuations. Using on-chain transaction data, researchers classified cross-border transfers of stablecoins and other crypto assets, and the results showed that most transactions were exchanges between assets, especially concentrated in the exchange with stablecoins such as Tether (USDT) and USD Coin (USDC).
The BIS warned that while crypto assets have potential in cross-border payments, current usage patterns show a high degree of speculativeness and could pose financial stability risks.
Markets expect the Fed to cut rates by 56 basis points by December
Fed funds futures show the market expects the Fed to cut interest rates by 56 basis points by December, compared with about 75 basis points expected last Friday.
Bitcoin mining company American Bitcoin and Gryphon sign merger agreement, plan to go public
Bitcoin mining company American Bitcoin announced that it has signed a formal merger agreement with Gryphon Digital Mining and plans to go public.
Amber International launches $100 million crypto ecosystem reserve plan
Amber International (NASDAQ: AMBR) announced that it has launched a $100 million crypto reserve program to accelerate the adoption of digital assets by institutional investors. The strategy will be supported by an AI-driven management mechanism, with initial allocations covering mainstream tokens such as BTC, ETH, BNB, SOL, SUI, XRP, and retaining the flexibility to invest in stablecoins such as USD 1. The company has launched the first round of deployment by investing in DeFi Development Corp. and co-founding the BNB Fund.
Project News
LetsBONKfun founder adds $15,000 in rewards for quality projects
LetsBONKfun founder Tom (@SolportTom) announced that in order to encourage more high-quality projects to launch on the memecoin launch platform LetsBONKfun, he will personally add a $15,000 USDC bonus to reward the most promising project team (whether founder or CTO/operation team) in the next 7 days.
This reward will be added to the platforms original official bonus of US$5,000, and successful projects can receive up to US$20,000 in USDC incentives.
Conditions of participation include:
The project must not be related to BONK;
Must be deployed on the LetsBONKfun (@bonk_fun) platform;
The project must have natural growth potential and avoid deliberate hype;
It needs to have a compelling narrative and a sense of community resonance;
Both launched and newly launched projects are allowed to participate in the selection.
According to official news, Pumpfun announced the launch of the Creator Income Sharing mechanism, where Coin creators can get 50% of the transaction income of the PumpSwap platform. From now on, after any user creates a Coin, as long as the token generates transactions, the creator can continue to receive income. Officials said that this mechanism is intended to encourage more high-quality project parties to participate in ecological construction.
The official TrumpMeme X account announced that the first TRUMP competition has officially ended. The top 220 ranking users will receive a notification about a dinner with US President Trump in the email address they registered when they signed up. TRUMP NFTs will be issued to all ranking participants. In addition, the TRUMP reward points program has now been launched, and users can start earning points by connecting their wallets.
Curve Finance suffered another DNS hijacking attack, and the official warned not to visit curve.fi
According to official disclosure by Curve Finance, its DNS has been hijacked again, and users may be redirected to malicious websites when visiting curve.fi. Onchain security company Blockaid said this may be a front-end attack and recommended that users avoid signing transactions and temporarily stop interacting with the DApp. The Curve team is currently restoring access rights and confirming that the smart contract is not affected.
In addition, the project has suffered two attacks within a week, and the official X account was taken over by hackers on May 5.
According to monitoring by Ai Yi, an on-chain analyst, the BSC Foundation address purchased TST, AIOT, and SKYAI on the chain in the past 10 minutes with a total value of $75,000, and each token was purchased at $25,000.
- TST: cost 0.06274 USD
- AIOT: Cost: $0.4137
- SKYAI: Cost: $0.04557 The foundation’s purchase tool is Mimic.fi, a DeFi operation modeling and automation platform that facilitates the rapid execution of a range of on-chain operations.
Drop Bureau posted on the X platform that ES will soon be listed on Binance.
However, community user @0x Study posted that it can be seen that there are only 104,167 ES in Binances hot wallet, and the source of funds of the address holding ES points to Castle Island Ventures, which in turn points to the institutional trading brokerage platform FalconX. The authenticity of listing on Binance may be questionable.
Investment and Financing
Market News: SoftBank and OpenAIs $100 billion joint venture hits funding roadblock
According to market sources, SoftBanks $100 billion joint venture with OpenAI has encountered funding obstacles. SoftBank has not yet started detailed negotiations on debt financing for Stargate.
Layer 0 blockchain infrastructure platform Openverse Network announced the completion of a US$11 million strategic round of financing, with participation from Castrum Capital, TB Ventures, DuckDAO, Asva Capital and others. The new funds are intended to be used to accelerate the development of its global ecosystem, including ecological construction, and encourage more developers and partners to join in to jointly build a more open and interconnected value network.
Blockchain cloud computing company Nirvana Labs has completed a $6 million seed extension round of financing, led by Jump Crypto and Crucible Capital, with participation from RW 3 Ventures, Castle Island and Hash 3 VC, bringing its total financing to $11.8 million.
The company provides computing services tailored for the encryption field. Unlike traditional cloud service providers that centralize computing resources, Nirvana uses bare metal infrastructure, and each server only serves one client. Nirvana has served infrastructure providers such as BitGo and Fireblocks, and protocol foundations such as Avalanche and Berachain. Nirvana also plans to serve as a front-end service to help organizations deploy on Internet filtering startup DoubleZero.
The Blockchain Group Closes Over €22 Million in Funding to Accelerate Its Bitcoin Funding Strategy
European listed company The Blockchain Group (ALTBG) completed two rounds of financing totaling more than 22 million euros within a week. On May 9, it raised 9.9 million euros through equity financing, with an issue price that was 61.7% higher than the 20-day average price. Investors included Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, VP Bank, etc. On May 12, it issued 12.1 million euros of Bitcoin-denominated convertible bonds through its Luxembourg subsidiary, which was fully subscribed by Blockstream CEO Adam Back, and the issue price was 30% higher than the first batch of conversion prices.
The funds will be used to strengthen Bitcoin holdings and develop subsidiary businesses such as data intelligence and AI. As a core member of Bitcoin For Corporates, the company explores Bitcoin-centric capital structure innovations, including Bitcoin-denominated bonds and hard asset reserve strategies.
Character Voice
1coinfirmation founder: Ethereum dominates the RWA ecosystem, with a market share of over 80%
Nick Tomaino, founder of 1coinfirmation, wrote on the X platform that Ethereum dominates the real-world asset (RWA) ecosystem, with a market share of 81.6%, and credible neutrality is crucial.
Michael Nadeau, founder of DeFi Report, wrote on X about the ETH market:
1. ETH open interest has increased by 40% in the past few days, which means a large number of leveraged longs have appeared;
2. ETH’s spot trading volume has jumped from $4-6 billion per day to $15-18 billion per day, which means real capital inflow;
3. The funding rate has increased from 0.005% to 0.03%;
4. In the past few days, the amount of ETH short liquidation exceeded 85 million US dollars.
In summary, ETH currently shows signs of real capital inflow, long positions increasing, and short squeeze, and the rise is driven by these three reasons.
Matrixport released todays chart, saying that as the Pectra upgrade continues to advance, Vitalik is guiding Ethereum to evolve towards a simple Bitcoin-like architecture. His proposed concept of protocol simplification, combined with a number of far-reaching improvement proposals, has become one of the key factors in ETHs more than 60% increase. However, behind ETHs strong performance, there are more variables worth paying attention to.
On May 3, 2025, Vitalik proposed a simplified vision for Ethereum Layer 1 with clarity and security at its core. EIP-4850 introduced a revenue sharing mechanism with Layer 2 solutions, enabling Ethereum to continuously capture value from L2 activities; EIP-7691 reduces L2 fees and improves operational efficiency by expanding the data block (blob) capacity, pushing more on-chain transactions back to the mainnet.
Ethereum liquidations have recently surged to $221 million, a rare phenomenon - such large liquidations usually occur during market downturns rather than price increases.
Fed Governor Kugler: Supports keeping interest rates at current restrictive levels
Federal Reserve Board Governor Kugler said he supports keeping interest rates at their current restrictive levels, that the Fed is in a good position to respond to changes in the macroeconomic outlook, and that the Fed is closely monitoring changes in trade policy and their impact on productivity and the economic outlook.
Bitfinex Report: Bitcoin Bull Market Returns
Bitfinex published a new report, which pointed out that Bitcoin returned to the $100,000 mark for the first time in more than three months, showing new strength after falling 32% from its all-time high in January. Driven by macro positive factors such as easing tariff tensions and the Federal Reserves dovish stance, Bitcoins breakthrough echoed the broader shift in risk appetite and enabled it to outperform stocks.
Importantly, the momentum of funds flowing into Bitcoin appears to be continuing, as evidenced by the record high realized market value of Bitcoin and ETF inflows of more than $920 million in the past two weeks. On-chain data also confirms that the number of Bitcoins held at a loss has dropped significantly, with more than 3 million Bitcoins profitable. Combined with rising spot trading volumes and institutional-led ETF inflows, Bitcoin is now on a solid structural footing. As long as the macro environment remains supportive, short-term declines are likely to be quickly digested, reinforcing the upward trend and putting BTC in a favorable position to hit new highs.
Citigroup: Rise in global short-term bond yields may slow
Citi Research rate strategists said in a report that the previous rise in global short-term bond yields may be losing momentum and will take a short breath, at least in the short term. There are still some factors that are not conducive to the bond market, including the first trade agreement reached between the United States and the United Kingdom, the vote split at the Bank of England’s meeting last week, and the wait-and-see attitude shown by the Federal Reserve. In addition, substantial progress has been made in the China-US trade negotiations.
