Binance Market Update: Crypto Trends for May 7, 2025
According to CoinMarketCap, the global cryptocurrency market capitalization has reached $2.99 trillion, marking a 2.76% increase over the past 24 hours.
Bitcoin (BTC) has shown solid momentum, trading between $93,377 and $97,732 within the last day. As of 09:30 AM UTC, BTC stands at $96,919, up 2.90%.
Wider Market Performance:
Most major cryptocurrencies by market cap are trading in the green. Notable outperformers include:
SYRUP: +67%
KAITO: +43%
LUMIA: +23%
Top Stories
Bhutan and Binance Pay unveil the first national crypto tourism payment system.
Bitcoin's market dominance climbs to a four-year high, indicating a potential shift in market dynamics.
Bitcoin wallet activity suggests possible directional change in the crypto landscape.
U.S. Federal Reserve expected to hold rates steady; markets assign low probability to an immediate rate cut.
China and the U.S. to resume trade discussions in Switzerland.
UK and U.S. nearing a trade agreement to reduce tariffs on steel and automotive exports.
Atlanta Fed's GDPNow model projects 2.2% GDP growth for the U.S. in Q2.
New Hampshire becomes the first U.S. state to pass a bill establishing a strategic Bitcoin reserve.
Standard Chartered forecasts BNB could reach $2,775 by 2028.
Rate cut speculations may strengthen the U.S. dollar depending on the Fed's next moves.
Market Movers (24h Performance)
Ethereum (ETH): $1,840.02 (+2.35%)
XRP: $2.1436 (+2.06%)
BNB: $605.96 (+1.56%)
Solana (SOL): $147.70 (+2.40%)
Dogecoin (DOGE): $0.17341 (+3.40%)
Cardano (ADA): $0.6839 (+3.76%)
TRON (TRX): $0.2453 (+0.16%)
Wrapped Bitcoin (WBTC): $96,880.12 (+2.88%)
TRUMP: $11.00 (+2.52%)
SUI: $3.4021 (+3.52%)
