📊 Market trends
• Bitcoin (BTC): Currently trading around $103,351, up 14% in April and just 3% away from its historical peak. Optimistic forecasts suggest that BTC could reach $220,000 to $250,000 by the end of this year, thanks to institutional inflows and interest from major investors.
• Ethereum (ETH): Currently at $2,495, down slightly 5% in the past 24 hours. However, with upgrades like Fusaka and growth in the DeFi sector, ETH could reach $5,000 this year.
• XRP: Trading at $2.36, up 3.3% over the past week. Expectations about ETFs and legal victories have driven XRP's price, with forecasts suggesting it could reach $5.50 by the end of the year.
• Solana (SOL): Currently at $166, with forecasts suggesting it could reach $325 if the upward trend continues. Growth in the DeFi sector and new projects are driving SOL's price.
🔍 Noteworthy news
• Galaxy Digital listed on Nasdaq: Galaxy Digital, led by Mike Novogratz, has started trading on Nasdaq, marking a significant step in legitimizing and expanding the cryptocurrency market.
• GENIUS bill on stablecoins about to be passed: The U.S. Senate is preparing to pass the GENIUS bill, establishing a legal framework for stablecoins, requiring safe asset reserves and compliance with anti-money laundering regulations.
• AI tokens boom: AI-related tokens have surged nearly $10 billion in the past week, with some tokens rising over 100%, reflecting the convergence of AI and blockchain.
• Elon Musk causes a stir with “Kekius Maximus”: Elon Musk changed his display name to “Kekius Maximus” and updated his profile picture, reviving excitement in the cryptocurrency market.
• Warning about scam projects targeting youth: The trend of “rug pulls” is on the rise, with cryptocurrency “gurus” targeting teenagers through meme coins, leading to significant losses for many young investors.
🧠 Analysis
The cryptocurrency market is in a strong recovery phase, with Bitcoin and Ethereum leading the upward trend. Interest from institutional investors, along with positive legal developments, is creating a favorable environment for the sustainable growth of the market. However, investors should exercise caution regarding unclear projects and stay updated to make informed decisions.
