Here’s the latest cryptocurrency news for **May 1, 2025**:🚀
### **Key Crypto Market Updates**
1. **Bitcoin (BTC) Price Movement**
- BTC is trading around **$60,000**, with volatility ahead of the Fed’s interest rate decision.
- Analysts debate whether this is a consolidation phase before a breakout or a deeper correction.
2. **Ethereum (ETH) & ETF Approval Rumors**
- ETH hovers near **$3,000** as speculation grows about a potential **spot Ethereum ETF approval** in the US.
- SEC delays decision on several applications, but some predict a late 2025 approval.
3. **Altcoin Action**
- **Solana (SOL)** rebounds after recent network congestion issues, up **8%** this week.
- **Dogecoin (DOGE)** surges **12%** amid rumors of an upcoming X (Twitter) payments integration.
### **Regulatory & Institutional News**
4. **US Crypto Regulations**
- The SEC files new enforcement actions against two DeFi projects for alleged securities violations.
- Congress debates the **FIT21 Crypto Bill**, which could clarify crypto oversight.
5. **Hong Kong’s Bitcoin & Ethereum ETFs**
- Trading volumes for HK’s new spot crypto ETFs hit record highs, signaling strong Asian institutional interest.
### **DeFi & Web3 Trends**
6. **Layer-2 Networks Boom**
- **Arbitrum** and **Optimism** see record activity as Ethereum gas fees spike again.
- **Polygon (MATIC)** announces a major zkEVM upgrade for Q3 2025.
7. **NFT Market Revival**
- **Yuga Labs** teases a new **Bitcoin NFT collection**, driving up interest in Ordinals.
- **OpenSea** launches a gas-free trading feature to compete with Blur.
### **Security & Hacks**
8. **Major Exploit on a DeFi Protocol**
- A cross-chain bridge attack drains **$25M** in stablecoins; hackers exploit a smart contract flaw.
9. **Crypto Scams Rise**
- Phishing attacks increase, with fake wallet drainers targeting Solana and Ethereum users.
