• The Most Published News
TWENTY ONE, a Bitcoin-focused public company, purchased 4,812 $BTC at an average price of $95,300 through Tether. This move follows a SPAC merger plan by Cantor Equity Partners to create a public firm with a reserve exceeding 42,000 $BTC. The company, backed by @Tether_to, @bitfinex, Cantor Fitzgerald, and @SoftBank Group, aims to offer Bitcoin-related financial services and a cryptocurrency media platform.

• Current Market Trends
U.S. spot Bitcoin ETFs experienced a net outflow of $91.39M on May 13, signaling downward pressure from investors. In contrast, U.S. spot Ethereum ETFs rebounded with $13.37M in net inflows, led by @Grayscale’s mini ETH and supported by Franklin Templeton’s EZET and @vaneck_us’s ETHV. Other ETFs remained unchanged, indicating a mixed sentiment in the market.
The cryptocurrency market shows signs that altseason may be underway, marked by declining Bitcoin and Tether dominance and strong altcoin returns. Technical charts indicate a breakout in the altcoin market capitalization, suggesting capital is rotating from Bitcoin into altcoins. Major altcoins including $ETH, $XRP, and $SOL are witnessing significant gains compared to Bitcoin, sparking renewed investor interest.

• Regulations and Policies
SEC Chair Paul Atkins Announces Innovation-Focused Crypto Regulatory Plan: The SEC is pivoting towards a three-pronged regulatory approach emphasizing rulemaking over enforcement, focusing on issuance, custody, and trading. This signals a more supportive environment aimed at fostering innovation and preventing crypto firms from relocating abroad.
Stablecoin Regulatory Uncertainty Continues in the US Senate: The GENIUS Act, a key stablecoin regulatory bill, failed a recent procedural vote amid political disputes involving conflicts of interest related to prominent crypto figures. Bipartisan efforts are underway to revive the legislation quickly before the May recess, reflecting ongoing uncertainty and high stakes in stablecoin oversight.

• Technology and Innovation
Cardano Integrated Into Brave Wallet, Expanding Access to 86 Million Users: Brave has integrated Cardano into its browser wallet, allowing users to perform on-chain governance, token management, and token swaps directly. This multi-chain expansion routes Cardano closer to mainstream user adoption, increasing decentralized participation potential.
MultiBank Group and MAG to Tokenize $3 Billion in Dubai Real Estate Assets: The launch of the $MBG utility token will facilitate access, staking, and fee payments on a fully regulated real-world asset marketplace. This increasing adoption of tokenization in real estate marks a significant innovation in expanding institutional-grade digital asset access.

• Institutional Investor News
Abraxas Capital Increases Ethereum Holdings by $560 Million Using $USDT Loan: The firm’s strategic purchases highlight intense institutional interest in Ethereum, signaling expectation for continued growth and adoption of ETH as a key digital asset.
@coinbase’s S&P 500 Inclusion Spurs Estimated $16 Billion Buying Pressure: Analysts from Bernstein project sizeable buying demand from mutual funds and ETFs due to Coinbase’s index inclusion, underscoring increased institutional participation and long-term confidence in the crypto market.

• Market Forecasts and Expert Opinions
Bitcoin Could Reach $150K-$180K by 2025-2026 Despite Short-Term Overheating Risks: Analysts anticipate further rallying potential for Bitcoin driven by institutional inflows, ETF developments, and macroeconomic factors, although they caution investors about possible short-term corrections amid euphoric sentiment.
Anthony Scaramucci Forecasts $1.1 Million Bitcoin Price with One Billion Active Wallets: Highlighting Bitcoin’s dual role as digital gold and an evolving asset class, Scaramucci emphasizes growing institutional adoption and long-term structural growth across the crypto ecosystem.

• Security and Hacking News
Elliptic reports that Xinbi Guarantee, a Colorado-incorporated firm, has facilitated $8.4 billion in stablecoin transactions, primarily using Tether, for illicit activities in Southeast Asia. The platform operates via Telegram and supports money laundering, scamming, and fraud through various services. It is closely linked to North Korean hackers and is the second largest illicit online marketplace discovered so far.

• Conclusion
The crypto market today exhibits strong institutional momentum highlighted by Coinbase’s historic S&P 500 inclusion and massive Bitcoin and Ethereum accumulations by prominent entities. Dubai’s government adoption of cryptocurrency payments signals growing mainstream crypto acceptance in public sectors. While Bitcoin and Ethereum lead robust rallies supported by technical upgrades and positive macroeconomic developments, caution is advised due to signs of short-term market overheating and ongoing regulatory uncertainties, especially around stablecoins. Investors should closely monitor regulatory progress, institutional flows, and network security events, adopting a balanced strategy that capitalizes on growth opportunities while managing volatility risks in this evolving landscape.

Daily crypto market update is an AI summarization of important news published in major crypto media in the last 24 hours at the time of sending. The full news story can be found at the URL below.
http://ns3.ai/top-news