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Ethereum’s Pectra upgrade, combining the Prague and Electra updates, went live at epoch 364032 on May 7, 2025, introducing 11 Ethereum Improvement Proposals (EIPs) to enhance scalability, security, and user experience.

Pectra Upgrade Activates With 11 Key Enhancements
The upgrade, activated at 6 a.m. Eastern time, focuses on validator efficiency, layer two (L2) scalability, and wallet functionality. Key changes include EIP-7251, which raises validator capacity to 2,048 ETH to streamline staking operations, and EIP-6110, reducing deposit delays from hours to minutes. EIP-7002 improves exit security for validators by enabling execution-layer triggers.

Scalability gains center on EIP-7691, doubling blob throughput to lower Layer 2 fees, and EIP-7623, incentivizing blob adoption over costlier calldata. Wallet usability improves via EIP-7702, allowing externally owned accounts (EOAs) to temporarily act as smart contracts for batch transactions and gas sponsorship.
Security upgrades include EIP-2537, reducing gas costs for cryptographic operations, and EIP-2935, enhancing historical data access for cross-chain applications. The upgrade also simplifies inter-layer communication with EIP-7685.
Validators and staking providers benefit from reduced operational overhead, while developers gain tools for cheaper, faster rollups. Users will see gradual improvements as wallets and decentralized applications (dapps) adopt new features.
Despite testnet challenges, the mainnet transition appears stable. Network impacts, such as validator storage demands, will be monitored. Pectra positions Ethereum competitively ahead of its next planned upgrade, Fulu-Osaka, which aims to advance decentralization through Verkle trees.

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The American financial services firm Robinhood is said to be preparing the rollout of its own blockchain, according to two individuals with direct insight into the initiative. Sources noted that both Arbitrum and Solana have been evaluated as potential partners in the project’s development.

Robinhood Plots Bold Blockchain Leap
Much like its counterparts in the digital asset financial sphere, Robinhood is reportedly developing a proprietary blockchain network designed to enable European clients to trade U.S. equities, according to a Bloomberg report, which cited two individuals with knowledge of the alleged project. Bloomberg’s Muyao Shen noted that Robinhood Markets Inc. has yet to issue a statement on the matter.
Shen reported that sources allege both the Ethereum layer two (L2) solution Arbitrum and the layer one (L1) network Solana have been evaluated as prospective collaborators. The insiders anticipate that Robinhood’s blockchain initiative will launch in tandem with a “digital-asset firm” partner. Shen also mentioned that, according to one person “with direct knowledge,” negotiations remain active and no formal agreement has been reached.
Robinhood’s reported blockchain initiative surfaces amid a broader movement, as several of its peers have already introduced proprietary chains. Coinbase, based in San Francisco, rolled out its Base chain, while fellow Bay Area firm Kraken unveiled a network named Ink. Robinhood, meanwhile, posted standout results in the first quarter of 2025, notching record-setting financials and meaningful expansion across its business segments.
Total net revenues climbed 50% year-over-year to $927 million, propelled by a 77% rise in transaction-based earnings, which hit $583 million. The firm’s crypto division played a central role in the quarter, with cryptocurrency transaction revenues doubling to $252 million compared to the prior year—accounting for over 43% of the platform’s overall transaction-based income.
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The global cryptocurrency market surged 2.79% over the past 24 hours, climbing to a total valuation of $3.01 trillion, driven by standout performances from altcoins and steady gains from bitcoin and ethereum.

Crypto Market Hits $3.01 Trillion, Up 2.79% in 24 Hours
Bitcoin (BTC), which maintains a dominant 64.4% share of the crypto market today, rose 3.25% coasting along at $97,302 apiece, reflecting continued institutional confidence. Ethereum ( ETH), with 7.4% market dominance, gained 3.20% to trade at $1,827 on Wednesday, showing resilience despite minor hourly pullbacks.

STX/ USDT via Binance on May 7.
Among altcoins, stacks (STX) and EOS led the charge with respective 24-hour gains of 15.4% and 13.6%. STX, now priced at $0.8794, secured the third spot on the day’s top gainers list, while EOS followed closely at $0.778. Other notable risers included convex finance (CVX) up 13.13%, brett (BRETT) up 11.24%, and popcat (POPCAT), which jumped 10.8%.

KAITO/ USDT via Binance on May 7.
The day’s top gainer was kaito (KAITO), rocketing 48.06% to $1.262475, bolstered by renewed interest. Meme and micro-cap tokens also posted significant returns, with mog coin (MOG) up 17.12% and Bitcoin’s dog token (DOG) climbing 10.5% against the U.S. dollar.
However, not all tokens shared in the bullish sentiment. Movement (MOVE) fell sharply by 10.29% to $0.1613, leading the day’s losers. Fartcoin (FARTCOIN) and virtual protocol (VIRTUAL) also tumbled, down 10.25% and 8% respectively. Additional losses came from fellaz (FLZ), safe token (SAFE), and beldex (BDX).
Despite some red, today’s overall trend remains decisively positive with broader momentum favoring altcoins over major caps.

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Etherscan has launched monitoring tools for EIP-7702 authorizations following Ethereum’s Pectra upgrade, which introduced 11 improvement proposals to bolster scalability, security, and user experience.

Ethereum Users Gain Smart Contract Flexibility With EIP-7702 Post-Pectra
Ethereum’s Pectra upgrade, combining the Prague and Electra updates, went live on May 7, 2025, activating 11 Ethereum Improvement Proposals (EIPs), including EIP-7702. The proposal enables externally owned accounts (EOAs) to temporarily delegate transaction execution to smart contracts, blending user-controlled accounts with advanced smart contract functionalities.

EIP-7702 introduces a “set code transaction” (type 0x04) to Ethereum, which assigns a delegation indicator to an EOA, redirecting its operations to a specified contract. Users authorize delegations via an “authorization_list” containing chain-specific data, with changes reversible via code-resetting transactions. This allows EOAs to batch transactions, sponsor gas fees, or set custom permissions without permanent conversion to smart contracts.
Key features include atomic transaction bundling for efficiency, third-party gas fee coverage, and granular permissions like token access limits. However, security risks persist: delegating to unvetted contracts may expose EOAs to exploits, while improper nonce management could enable replay attacks. Users must actively revoke delegations to mitigate risks.
The standard aligns with existing account abstraction frameworks like ERC-4337, ensuring compatibility with wallets and decentralized apps. EIP-7702 debuted on Ethereum’s Sepolia testnet and is now active on the mainnet following Pectra’s rollout.
Etherscan’s update lets users track active and historical authorizations under the “Authorization List” tab on address pages, providing transparency into delegated privileges.
As Ethereum transitions toward hybrid account models, EIP-7702 balances flexibility with user sovereignty, marking a pivotal step in evolving blockchain accessibility. Developers are urged to prioritize security audits and user education to maximize the proposal’s benefits.

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BitcoinOS reports that it has successfully executed the first-ever bridgeless cross-chain transfer of bitcoin, moving 1 BTC between the Bitcoin and Cardano blockchains without relying on traditional intermediaries.

Bridgeless Era Begins: BitcoinOS Transfers BTC to Cardano Using ZK Proofs
The demonstration, conducted on mainnet, marks a pivotal advancement in blockchain interoperability. By wrapping 1 BTC into xBTC—a programmable token secured through BitcoinOS’ BitSNARK zero-knowledge proofs—the transaction circumvented custodial bridges, reducing risks and latency.
BitcoinOS states that the xBTC was transferred to Cardano and back to Bitcoin, showcasing seamless cross-chain functionality. BitcoinOS collaborated with Sundial Protocol, a hybrid Bitcoin-Cardano layer two (L2) solution, and Handle, Cardano’s identity platform, to execute the transfer.

Source: BitcoinOS
The process essentially involved wrapping BTC into xBTC on Bitcoin, bridgelessly moving it to Sundial’s Cardano wallet, transferring it to Handle’s wallet, and returning it to Bitcoin before unwrapping it back to native BTC. Edan Yago, a core BitcoinOS contributor, said the demo proves Bitcoin can gain smart contract capabilities while remaining trustlessly anchored to its blockchain.
The demonstration’s abilities turns “Cardano into a seamless DeFi layer for Bitcoin,” he added, highlighting implications for other UTXO-based chains. Sheldon Hunt, founder of Sundial Protocol, said the achievement was a turning point for decentralized interoperability. “It’s a turning point for the entire blockchain ecosystem,” he said. Jonah Peralta of Handle emphasized the breakthrough’s significance for Bitcoin’s utility, stating it unlocks smart contracts and scalability while maintaining Bitcoin’s security.
The innovation allows BTC to participate in decentralized finance (DeFi) across ecosystems without bridges, addressing long-standing challenges of custodial risk and fragmented liquidity. BitcoinOS’ use of zero-knowledge proofs embeds programmable logic directly into Bitcoin transactions, enabling L2 solutions with full Bitcoin security.

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The Solana Name Service (SNS), a decentralized naming protocol on the Solana blockchain, has launched its SNS token to decentralize governance and align the project’s future with its user community.

Solana Naming Protocol Launches Governance Token with 10 Billion Supply
The SNS token, with a total supply of 10 billion, is designed to grant .sol domain holders decision-making power over protocol upgrades, ecosystem incentives, and development priorities. Its distribution allocates 40% to existing .sol holders, Solana communities, and partners, emphasizing rewards for early adopters.

Another 20% is reserved for future community incentives, while 26.25% will fund ecosystem growth through partnerships and projects. Core contributors receive 8.75% (locked for four years), and 5% is allocated to liquidity pools.
SNS aims to simplify blockchain interactions by converting complex wallet addresses into human-readable .sol domains, such as “username.sol.” These domains serve as digital identities, enabling streamlined transactions, decentralized website hosting, and integration with Web3 applications. Subdomains further expand utility, supporting community structures, organizational hierarchies, and decentralized physical asset management.
Solana Name Service explained that key advantages include perpetual ownership of domains, low transaction fees via Solana’s infrastructure, and seamless ecosystem integration. Over 270,000 .sol domains have been registered to date, with 150 projects leveraging the protocol for user-friendly blockchain access.
The token’s governance framework, according to the white paper, allows holders to vote on proposals, including funding allocations and technical upgrades. SNS aims to foster a self-sustaining ecosystem where active participation is incentivized through token rewards tied to usage and contributions.
Future steps include phased token claims for eligible users and detailed guidance for community involvement. The rollout aims to highlight SNS’s shift toward a decentralized model, prioritizing long-term resilience and user-driven innovation.

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This week, Phoenix Group PLC reported $31 million in Q1 2025 revenue alongside progress toward 500 megawatts (MW) of global bitcoin mining capacity, including a newly operational 20 MW facility in Texas.

Phoenix Group Targets Top 5 Bitcoin Mining Spot by 2026
Phoenix Group, an Abu Dhabi-based cryptocurrency mining firm, announced consolidated Q1 revenue of $31 million, driven by increased self-mining operations. Gross mining margins rose to 30%, up from 24% in Q4 2024, yielding $6.3 million in gross profit. Operating expenses climbed to $9 million due to global scaling efforts.
The company mined 350 bitcoin (BTC) during the quarter, including 222 self-mined. Post-quarter, it energized a 20 MW Texas site, expanding its North American operational capacity to 185 MW. The Texas facility adds 1.2 exahash per second (EH/s) to Phoenix’s hashrate and is part of its plan to reach 500 MW globally. Phoenix also advanced its Ethiopian operations, securing 52 MW of additional capacity, with 20 MW already online.
Phoenix now operates an aggregate of 500 MW across five countries, including the U.S., UAE, Canada, Oman, and Ethiopia. CEO Munaf Ali emphasized the company’s resilience amid market volatility, citing strategic site locations and energy optimization. “We are aggressively building out the capacity needed to meet the inevitable surge in demand for power required by Bitcoin mining and AI data centers,” he stated.
Mining efficiency improved by 17% to 25.4 joules per terahash (J/T) following upgrades in the U.S. and Ethiopia. The company claimed it maintains a debt-free balance sheet, funding growth through liquidity reserves. Despite an unrealized EBITDA loss in Q1 tied to declining cryptocurrency prices, Phoenix anticipates a rebound by Q3 2025. It aims to rank among the top five bitcoin miners by 2026 while diversifying into artificial intelligence (AI) data centers.
Founded in 2017, Phoenix Group operates the Middle East’s largest mining farm and became the first regional blockchain firm listed on the Abu Dhabi Securities Exchange. Its global footprint aims to showcase its focus on energy-rich, cost-efficient markets.

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DeFi Development Corp. purchased $11.2 million worth of Solana ( SOL) tokens on May 6, 2025, increasing its total holdings to 400,091 SOL, valued at approximately $58.5 million.

DeFi Development Corp. Bolsters Treasury with 82,404 Additional Solana Tokens
The Boca Raton-based company acquired roughly 82,404.50 SOL tokens, according to a regulatory filing. Its total holdings, including staking rewards, equate to $58.5 million. DeFi Development Corp. (Nasdaq: DFDV) reported 2,001,887 shares outstanding, translating to 0.199 SOL ($29.24) per share.
A portion of the newly obtained SOL includes locked tokens obtained through Bitgo’s over-the-counter (OTC) desk. These tokens, subject to contractual transfer restrictions, will be staked to generate yield but cannot be moved until predetermined unlock periods expire.
DeFi Development Corp. adopted a treasury policy last year, allocating its principal reserve holdings to solana ( SOL), aiming to give investors indirect exposure to the blockchain ecosystem. The company stated it will continue updating stakeholders on treasury strategy through public disclosures.
Formerly known as Janover Inc., the firm operates a subscription-based platform serving commercial real estate professionals, lenders, and developers. It claims to facilitate billions in annual debt financing applications. Prior to the announcement, earlier this week, DeFi Development Corp. announced the purchase of a SOL validator operation for $3.5 million.

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XRP is trading at $2.14 with a market capitalization of $125 billion and a 24-hour trading volume of $1.99 billion. The asset’s intraday price range extends from $2.09 to $2.16, reflecting cautious buying pressure within a narrow band of resistance and support.

XRP
On the 1-hour chart, XRP has shown a modest recovery from a recent low of $2.077, moving up toward $2.14. This short-term rally is supported by a noticeable increase in buying pressure, especially visible in green candle volumes. The formation of a potential rounded bottom pattern suggests that bullish sentiment may be gathering traction. Entry signals were identified in the $2.09–$2.10 range, with traders now watching for minor pullbacks to reinforce support. Upside exits are targeted near $2.15 to $2.17, with trailing stops advised once the price exceeds $2.16.

XRP/USDC via Binance on May 6, 2025. 1-hour chart.
Shifting to the 4-hour chart, the price action reveals a descending channel structure, characterized by lower highs and lower lows. XRP found crucial support near $2.077 and is currently testing the upper resistance boundary of the channel. Volume has slightly increased in tandem with the bounce attempt, indicating some buyer re-engagement. A sustained breakout above the $2.15–$2.16 resistance band, coupled with rising volume, would provide a more robust bullish confirmation. Conversely, failure to clear this level and the formation of another lower high would likely renew downward pressure.

XRP/USDC via Binance on May 6, 2025. 4-hour chart.
The daily chart analysis points to a longer-term bearish trend, following a steep decline from approximately $2.50 to a bottom of $1.611 in April. The market subsequently entered a gradual recovery phase, peaking near $2.30 in late April before softening again. Support remains firm in the $2.05–$2.10 zone, while resistance lies between $2.30 and $2.35. Despite recent rebounds, XRP’s failure to decisively surpass the $2.16–$2.17 resistance area could undermine bullish momentum. Traders are advised to watch for a volume-backed move above $2.10 as a signal for potential entries, with exit targets set around $2.30 if bullish strength persists.

XRP/USDC via Binance on May 6, 2025. Daily chart.
Oscillator data presents a broadly neutral sentiment. The relative strength index (RSI) stands at 46.69, indicating neither overbought nor oversold conditions. The Stochastic oscillator is at 24.82, and the commodity channel index (CCI) at -63.40, both supporting the neutral stance. The average directional index (ADX) at 11.69 signals weak trend strength, while the Awesome oscillator remains flat at 0.05813. However, two indicators deviate: the momentum indicator at -0.05607 suggests mild bearishness, and the moving average convergence divergence (MACD) level of 0.00578 also issues a bearish signal, underscoring caution despite short-term rebounds.
A review of moving averages highlights a broadly bearish bias across shorter time frames. The exponential moving averages (EMA) for 10, 20, and 30 periods — at $2.17372, $2.16915, and $2.17034, respectively — all reflect ugly signals, as do the corresponding simple moving averages (SMA) at $2.20151, $2.17045, and $2.12368, although the 30-period SMA signals bullishness. Longer-term averages such as the 200-period EMA ($1.99606) and SMA ($2.07370) flash prettier signals too, implying that the current price is still holding above major support zones. Mid-range averages from the 50- and 100-period metrics remain bearish, suggesting prevailing downward pressure unless a breakout occurs. These mixed signals emphasize a technical landscape in flux, with short-term rallies facing medium-term resistance.
Bull Verdict:
XRP is showing early signs of recovery from its recent bottom at $2.077, supported by short-term bullish formations and buy signals on longer-term moving averages like the 200-period exponential and simple moving averages. If XRP maintains support above $2.10 and breaks through the $2.16 resistance with volume, a move toward $2.30 is plausible in the short to mid-term.
Bear Verdict:
Despite a brief rebound, the overall trend remains pressured by a descending channel on the 4-hour chart and a broadly bearish configuration of short- to mid-term moving averages. Oscillators such as momentum and the moving average convergence divergence (MACD) issue sell signals, indicating that a failure to surpass $2.16 could renew the downtrend toward prior support levels.
Final Verdict:
XRP currently sits at a technical crossroads. While short-term indicators offer glimpses of recovery, the prevailing sentiment across oscillators and moving averages favors caution. Until a definitive breakout above $2.16 is confirmed with strong volume, the outlook remains neutral with a bearish lean. Traders should prepare for a binary outcome hinged on near-term price action at resistance.

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The legendary investor, at one time the richest man on the planet, once called bitcoin “rat poison.”

Buffett Exits CEO Role at Berkshire Hathaway, Successor Named
Efficient market theory posits that it’s impossible to consistently beat the market, but Warren Buffett, CEO of holding company Berkshire Hathaway, may be a rare exception to that rule, and perhaps that explains why Berkshire’s stock shed nearly 5% today, after Buffett announced his resignation on Saturday.
Considered by many to be the world’s best investor and affectionately nicknamed “The Oracle of Omaha,” a nod to his hometown, Buffett was once asked about bitcoin in 2018 and his response wasn’t exactly flattering. Bitcoin is “probably rat poison squared,” Buffett said. He also delivered a damning indictment of the entire crypto industry. “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.” Curiously, bitcoin has defied Buffett’s gloomy prediction, increasing ten-fold since the infamous remarks.
And now after 60 years at the helm of what has grown to become a $1.1 trillion conglomerate, Warren Buffett will step down as CEO of Berkshire Hathaway at the end of the year, passing the reins to longtime Canadian Berkshire executive Gregory Abel. Buffett will remain chairman, although at 94, he will likely resign from that role as well.

(Longtime Canadian Berkshire executive Greg Abel will assume the CEO role upon Warren Buffett’s resignation at the end of 2025 / University of Alberta)
“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said at the Berkshire annual general meeting on Saturday, according to Reuters. “I think the prospects of Berkshire will be better under Greg’s management than mine.”
Berkshire Hathaway shares (BRK-A) fell 4.87% on Monday, closing the day at $769,960.00.
Warren Buffett’s Origin Story
Perhaps unsurprisingly, Buffett started investing as a child. At only eleven years old, he was already purchasing shares of oil and gas firm Cities Service (now Citgo) for himself and his older sister Doris. In high school, he was buying used pinball machines and setting them up in barber shops. He later sold that business for $1,200.
By 1962, Buffett was a young millionaire running multiple investment partnerships, and buying up undervalued companies, including Berkshire Hathaway, which at the time was a textile manufacturer. He eventually took control of Berkshire in 1965, exited the textile business, and turned the firm into the $1.1 trillion behemoth it is today.

(A young Buffett with longtime friend and business partner Charlie Munger, circa 1977 / Rolexmagazine.com)
The 94-year-old Columbia and Wharton Business School graduate was a disciple of Benjamin Graham, the so-called “father of value investing,” and to this day, is a proponent of Graham’s investment ethos. Graham’s principles helped propel Buffett to the world’s richest billionaires list in 1993, and he has remained on it ever since, becoming the world’s richest man in 2008.
Most of Buffett’s wealth, a dizzying $160 billion according to Forbes, is in the form of Berkshire equity, and he intends on donating 99% of it before or after his death.
“More than 99% of my wealth will go to philanthropy during my lifetime or at death,” Buffett wrote in a 2010 letter to The Giving Pledge initiative which he co-established with fellow billionaire and Microsoft co-founder Bill Gates. “At the latest, the proceeds from all of my Berkshire shares will be expended for philanthropic purposes by 10 years after my estate is settled.”

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Visa’s venture arm has invested in BVNK, a stablecoin infrastructure firm, to accelerate the development of global payment networks using blockchain-based currencies.

Stablecoin Infrastructure Firm BVNK Secures Visa Investment
The strategic investment, announced this week by BVNK CEO Jesse Hemson Struthers, follows BVNK’s $50 million Series B funding round in December 2024 led by Haun Ventures. Coinbase Ventures, Tiger Global, and others also participated. Visa did not disclose financial terms of the deal.

 BVNK processes $12 billion in annualized stablecoin payment volumes, facilitating cross-border transactions for businesses. The company recently expanded into the U.S., opening offices in San Francisco and New York. Executives from Blockfi and Cross River Bank lead its stateside operations.
Rubail Binwadker, Visa’s head of growth products and partnerships, stated stablecoins are “fast becoming part of global payment flows,” emphasizing Visa’s focus on emerging payment technologies.
The partnership aims to merge Visa’s payment network expertise with BVNK’s automated stablecoin systems. Stablecoins, which are pegged to assets like the U.S. dollar, accounted for $27 trillion in global transaction volume across 1.25 billion transactions in 2025, per Visa data.
Struthers co-founded BVNK in 2021 to create infrastructure for instant, scalable transactions. The firm claims its technology reduces reliance on traditional correspondent banking. Visa’s investment adds to growing institutional interest in blockchain-based payment solutions this year.

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Bitcoin ETFs opened the week strong with a $425 million net inflow, entirely driven by Blackrock’s IBIT. Ether ETFs stayed quiet, recording no activity for the day.

Blackrock’s IBIT Powers $425 Million Bitcoin ETF Inflow As Ether ETFs Stay Flat
Bitcoin ETFs wasted no time setting the tone for the new week. Fueled solely by Blackrock’s IBIT, they roared into Monday with a $425.45 million net inflow, extending their momentum from last week and reaffirming investor appetite.
IBIT continues to dominate the ETF landscape, attracting a massive $531.18 million single-day inflow, more than enough to drown out the red ink elsewhere. Five other funds logged outflows, led by Fidelity’s FBTC (-$57.82 million) and Bitwise’s BITB (-$22.66 million).
Grayscale’s GBTC ($16.37 million), Ark 21shares’ ARKB ($6.14 million), and Franklin’s EZBC ($2.74 million) also slipped, but their combined withdrawals couldn’t dent the bullish tide from Blackrock. Total value traded across bitcoin ETFs came in at $1.83 billion, and net assets closed the day at $110.68 billion.
Meanwhile, ether ETFs hit pause. No inflows. No outflows. Just a quiet day with net assets holding steady at $6.31 billion and investors seemingly taking a wait-and-see approach. As bitcoin ETFs continue to push upward, the market’s attention remains fixed on Blackrock’s gravitational pull and whether ether will soon catch a similar wave.

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