Bitcoin's market share (BTC.D) exceeded 65%, reaching a new high since February 2021, indicating that the market's risk aversion sentiment has intensified and the liquidity of altcoins has been under pressure. Bitcoin is currently trading at $94,434, up 0.69% in 24 hours, and Ethereum is trading at $1,806, up 0.96%.
The differentiation of altcoins intensified. The AI sector rose by 0.96% against the trend (TAO rose by 5.87%). In the PayFi sector, SAFE rose by 13.78% against the trend, SCRT fell by 15.52%, PUNDIX fell by 13.68%, and the Layer2 sector fell by 2.05%.
The one billionth transaction on the Bitcoin network was completed on May 6, marking the continued growth in usage of the Bitcoin network.
The Crypto Fear and Greed Index has shifted from “fear” to “greed,” reflecting a more optimistic market sentiment. Overall, May could be a turning point for the cryptocurrency market, setting the tone for the second quarter performance of the entire market.
The U.S. House of Representatives released a draft (Digital Asset Market Structure Bill 2025) to clarify the division of labor between the SEC and the CFTC, requiring project parties to disclose key information and provide compliance paths.
Ripple's proposal to acquire stablecoin giant Circle for $4-5 billion was rejected, causing the price of XRP to plummet by 4.7% in a short period of time. Large holders accelerated the sale of 120 million XRP to exchanges, and short-term bearish sentiment was strong.
After the Dencun upgrade, Ethereum's gas fee dropped to 0.563 gwei, and the main network transaction cost dropped sharply, attracting developers to return. The current price of ETH is $1,813, and the technical side shows that the RSI has risen to 55, which may start a rebound.
Gala Games was hacked and issued 5 billion GALA (worth $200 million) due to a contract loophole, causing the price to plummet by 20%, exposing the internal control risks of DeFi projects.
The EU’s new anti-money laundering regulations have come into effect, banning anonymous accounts and privacy coins, and DeFi protocols are facing pressure from KYC reviews.
The Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange launched the "Technology Enterprise Hotline" to accelerate the RWA (tokenization of physical assets) compliance pilot.
Tether issued an additional 1 billion USDT on the Tron chain, and the proportion of compliant stablecoins continued to increase.
Institutions are betting on the RWA track, with BlackRock and Goldman Sachs leading the tokenization of US Treasuries/gold, with an annualized return of 4-5%.
Short-term risks: Be wary of altcoin liquidity traps, token unlocking pressure (such as PYTH, AEVO) and regulatory uncertainty.
Long-term opportunities: Focus on compliant assets (BTC/ETH), RWA hard currency (US Treasury bonds/gold) and Web3 underlying protocols.
Operation tips: Bitcoin support level is $93,000. Breaking through $96,000 may hit the $100,000 mark. ETH focuses on the $1,850 resistance.
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