Market Snapshot
Bitcoin $BTC : Currently trading at $97,008, up 3.4% today. The price surged past $97K amid anticipation of the U.S. Federal Reserve's interest rate decision. Analysts suggest that if the Fed signals a dovish stance, BTC could test the $100K mark soon .
Ethereum $ETH ETH : Trading at $1,835.97, up 3.8%. The network's "Pectra" upgrade went live today, introducing smart accounts and scalability improvements .
$BNB BNB: At $606.33, marking a 2.1% increase.
XRP : Priced at $2.14, up 2.4%. The CME Group announced plans to launch XRP futures on May 19, potentially boosting institutional interest .
Cardano (ADA): Trading at $0.683, up 5.6%.
---
šļø Regulatory & Institutional Developments
U.S. Senate Democrats: They're opposing the GENIUS Act, a crypto bill linked to former President Trump, demanding anti-corruption measures before it progresses .
Trump's Crypto Reserve Proposal: President Trump proposed establishing a U.S. cryptocurrency reserve, including assets like Bitcoin, Ethereum, and XRP, aiming to bolster the nation's position in digital finance .
Binance: The exchange plans to temporarily suspend deposits and withdrawals for certain tokens today in preparation for the Ethereum upgrade .
---
šļø Industry Movements
Cango Inc.: The company reported mining 470 Bitcoins in April, an 11.3% decrease from March, but maintained strong mining efficiency and expanded its Bitcoin holdings .
StratoVM: This altcoin surged by 2,939%, drawing analyst attention with projections of a potential $10 target this summer .
