On May 9, 2023, global cryptocurrency price website CoinGecko reported a collective rise in cryptocurrencies. Among the top ten cryptocurrencies by market capitalization, Bitcoin's 24-hour increase exceeded 3%, Ethereum's 24-hour increase expanded to 20%, and Dogecoin's 24-hour increase was 16%. As of 5:15 PM that day, Bitcoin was priced at $104,361.29, with a 24-hour increase of 3.2%, and Ethereum was priced at $2,489, with a 24-hour increase of 22.1%. 299428079107667307824986713928875
#BTC重返10万 In addition, on Tuesday Eastern Time, the legislature of New Hampshire voted to pass a bill that makes the state the first in the United States to establish a cryptocurrency reserve. The Arizona legislature has passed a bill allowing up to 10% of public funds to be invested in Bitcoin and digital assets.
On May 9, the Bitcoin office of El Salvador announced that the country had purchased more Bitcoin. This move continues El Salvador's position as the first country to adopt Bitcoin as legal tender, aiming to strengthen its digital currency reserves and promote economic diversification.
Thomas Perfumo, a global economist at cryptocurrency exchange Kraken, pointed out that Bitcoin's return to six figures coincides with a recovery in global market risk sentiment. The stock market is performing strongly, and investors' willingness to allocate risk assets is increasing, with this sentiment quickly spreading to the cryptocurrency sector.
Jeffrey Kendrick, head of digital assets at Standard Chartered Bank, stated: "I previously set Bitcoin's target for the second quarter at $120,000, which may have been too low, and I apologize for that." He had previously stated: "We believe the upward trend will continue into summer, with Bitcoin approaching our predicted target of $200,000 by the end of the year."
The Zhito Finance APP learned that under the dual impetus of easing global trade tensions and optimistic expectations for network upgrades, Ethereum has led the cryptocurrency market to a comprehensive rebound this week, set to achieve the strongest weekly gain since 2021.
As the second-largest cryptocurrency by market capitalization, Ethereum surged 14% in a single day on Friday to $2,490, bringing its weekly cumulative gain close to 33%. This marks the strongest weekly performance for Ethereum since the cryptocurrency frenzy sparked by speculative mania and a low-interest-rate environment during the pandemic in 2021.
With the new trade agreement between the US and UK improving sentiment in the digital asset market, the industry benchmark Bitcoin rose as much as 1.7% during the day to $104,336. This agreement signifies signs of easing in global economic relations, following the tariff policies that escalated during the Trump administration, which had severely impacted the risk asset market.
Valentin Fournier, Chief Research Analyst at BRN, stated: "The current upward momentum is strong and sustainable, and the combination of technical breakthroughs and favorable policies is expected to attract incremental funds to the market."
The rebound in Ethereum also reflects investors' renewed focus on the technological upgrades of the Ethereum network. This network, recognized as the infrastructure for cryptocurrency business, recently implemented the "Pectra" upgrade plan aimed at reducing transaction fees, improving network efficiency, and supporting more complex wallet functionalities—these improvements are seen as necessary measures to fend off fast-growing competitors like Solana.
Despite the recent rapid rise, Ethereum is still down about 50% from its all-time high reached in November 2021, continuing to underperform compared to other leading digital assets such as Bitcoin.
Recently, U.S. Senator Chris Murphy's proposed "MEME Act" has garnered widespread attention, aiming to prohibit the President and members of Congress from issuing Meme coins. The background for this proposal stems from controversies surrounding Trump and his family related to Meme coins, which Murphy has labeled as "the biggest corruption scandal in White House history." The introduction of this bill not only reflects an increasing emphasis on cryptocurrency regulation but also reveals the complex relationship between politics and finance. Meme coins, due to their highly speculative nature and social media-driven characteristics, are often viewed as immature investment tools, especially when political figures are involved, leading to greater public dissatisfaction and skepticism. Democratic Senator Jeff Merkley has also proposed a similar bill to prevent federal officials and their families from issuing digital assets, further tightening regulations on cryptocurrencies. This series of measures could have far-reaching effects on the crypto market, particularly regarding policy transparency and market trust. As legislation progresses, Meme coins and other related crypto assets may face stricter regulations, and investors need to remain vigilant. Additionally, if the bill passes, it could impact the future issuance models of cryptocurrencies and their use in political activities, prompting more compliance and transparency requirements. Overall, the future crypto market will place greater emphasis on compliance and regulation, and investors should pay attention to policy trends to adjust their investment strategies.
The Pectra upgrade of Ethereum (#Pectra升级 ) successfully went live on May 7, 2025, marking one of the most significant network updates since the merger in 2022. This upgrade introduced 11 Ethereum Improvement Proposals (EIPs) aimed at enhancing the network's scalability, security, and user experience. Notably, EIP-7702 implements account abstraction, allowing regular wallets to temporarily execute smart contract functions, enabling users to recover lost private keys through social contacts and allowing third-party payment of gas fees. Additionally, improvements to the staking mechanism increased the ETH staking limit for individual validator nodes from 32 to 2048, reducing operational complexity for institutional stakers. In terms of Layer 2 scaling, the blob data capacity per block has doubled, expected to significantly lower transaction costs. Although the market reaction has been cautious, some analysts suggest that investors remain vigilant when signing transactions, overall, the Pectra upgrade lays a solid foundation for the long-term development of Ethereum. In the future, as new features are gradually implemented, it is expected to attract more users and developers, further expanding Ethereum's ecosystem. As Ethereum moves toward a more streamlined and efficient direction, the future market trends may become more positive, especially in the areas of Layer 2 solutions and decentralized applications (dApps). In summary, while investors focus on short-term volatility, they should also keep an eye on Ethereum's long-term technological advancements and market potential.
On May 8th, 2023, Beijing time, the Federal Open Market Committee (FOMC) of the Federal Reserve announced after its meeting that it would maintain the federal funds rate target range at 4.25% - 4.5%, in line with market expectations. This marks the third consecutive pause in action by the Federal Reserve during its monetary policy meetings, and this rate decision received unanimous agreement from FOMC members. Regarding the balance sheet, the committee will maintain the current pace of balance sheet reduction, with a monthly cap of $5 billion on the redemption of U.S. Treasury securities and a monthly cap of $35 billion on agency debt and MBS. The Federal Reserve's statement noted that the uncertainty surrounding the economic outlook has "further" increased, emphasizing that both inflation and unemployment risks are rising, adding the new statement that "the risks of rising unemployment and inflation have increased," while reiterating that recent indicators show that economic activity continues to expand robustly, pointing out that fluctuations in net exports have affected the data.
Federal Reserve Chairman Powell stated after the meeting that high tariffs could lead to rising inflation and unemployment rates, and it is too early to determine which risk—inflation or unemployment—is more severe; the current monetary policy is moderately restrictive, with a positive outlook for potential inflation, and taking a wait-and-see approach is a clear decision; it is not possible to act preemptively because it is not known how to respond until more data is seen; the impact of tariff shocks has not yet arrived, and the policy's effect on inflation could be temporary or more lasting; at least for the next year, the Federal Reserve's inflation and employment targets are unlikely to make progress; negotiations could substantially change the trade situation or may not.
#Stripe稳定币账户 On May 7, fintech giant Stripe unveiled a series of new product launches at its annual Stripe Sessions user event. Highlights included: a new AI foundational model for the payments space; accounts powered by stablecoins; a brand new Orchestration solution; and a recent migration partnership with chip giant Nvidia.
Stripe's payment foundational model has been trained on data from tens of billions of transactions, Stripe's Chief Information Officer Emily Glassberg Sands explained, thus it "captures hundreds of subtle signals in each payment" that other models tend to overlook.
#山寨季何时到来? Regarding when the altcoin season will arrive, there is currently no definitive time. Some viewpoints suggest it may be as late as 2025, with data analysis platforms indicating that in recent times, most altcoins have performed poorly, and Bitcoin's dominance continues to rise. In this context, the altcoin season may not arrive until 2025. However, there are also viewpoints suggesting that the altcoin season is approaching or has already arrived. For instance, some believe that the launch of key events, such as the Ethereum ETF, may drive a recovery in the altcoin market, indicating that the altcoin season may be imminent. Additionally, some individuals, based on market changes and relevant signs, believe that the altcoin season is about to arrive in 2025 or has a certain probability of arriving, which primarily depends on whether Bitcoin can stabilize at $100,000 and trigger the rotation of funds, among other factors. In summary, there are varying opinions and predictions regarding the timing of the altcoin season, influenced by multiple factors, including Bitcoin's trend, market capital flow, policies and regulations, investor sentiment, etc., making it difficult to accurately predict. When engaging in related investments, investors need to remain cautious and fully understand the market risks.