Hot projects + Market overview
I. Mainstream exchange news
- Crypto exchange Bitpanda partners with Raiffeisen Bank to expand in Austria.
- HashKey Exchange to list Toncoin (TON).
- Binance to delist IDEX/USDT, SLP/USDT, GLMR/USDT, MDT/USDT, and AUDIO/USDT perpetual contracts and adjust leverage and margin ladder.
II. Mainstream projects and trending events
- EOS's new tokenonomic model is set to be deployed to the mainnet by the end of May, and EOS staking rewards are to be released by the end of June.
- Puffer Finance announces the official launch of its mainnet.
- Bitlayer allocates $2 million to help its ecosystem tokens list on major trading platforms.
- DePIN protocol io.net launches Ignition Season 1 points.
- Trump accepts crypto donations for his US presidential campaign.
- MakerDAO claims the supply of DAI has surged by nearly 1 billion in the past two months. Furthermore, DAI recorded an on-chain transaction volume of $636.72 billion in April, making it the stablecoin with the highest monthly on-chain transaction volume.
- Michael Sonnenshein, CEO of Grayscale Investments, said that the company will focus on converting its Ethereum trust fund into spot ETF products.
- VanEck's Market Vectors launches the MEMECOIN Index, which includes six tokens: DOGE, SHIB, PEPE, WIF, FLOKI, and BONK.
- Imaginary Ones' BUBBLE tokenomics allocates 30% to community incentives.
- Fantasy.top and Pump.fun are among the top ten crypto protocols by generated fees.
- Nearly all FTX's customers will withdraw all of their funds.
- US SEC submits its final response to the Ripple case, stating that Ripple has failed to guarantee not to violate regulations in the future.
III. Funding news
- Modular blockchain Sophon raises $60 million through node sales.
- Cryptography startup company Lagrange completes a $13 million seed round funding, led by Founders Fund.
- Gaming ecosystem platform SlingShot DAO completes a $3 million funding with participation from Alphabit Fund.
IV. Regulatory news
- The US House of Representatives passes a resolution aimed at overturning the SEC's crypto accounting policies.
- US Congressman Sean Casten has introduced the "Blockchain Integrity Act". This act is designed to temporarily prohibit financial institutions from handling funds transferred through digital asset mixers.
- Indonesian regulators establishes a Cryptocurrency Committee to monitor industry operations and compliance.
V. Popular projects
Market Overview
BTC continues to maintain a volatile trend. The 4-hour chart shows a bearish oscillation. BTC’s price is currently only about 1,000 USDT away from the bullish candlestick of May 3rd ($60,500). Unless it surpasses $63,200, BTC will continue on this volatile path. Patience and continuous observation are recommended.
BTC Spot ETF
Data as of May 8th shows a total net inflow of $11.77 billion into BTC spot ETFs, with a single-day net inflow of $11.54 million and a single-day trading volume of $999 million. Net ETF assets currently account for 4.25% of BTC market value. The main focus includes:
GBTC: No change in the single-day net outflow. The cumulative net outflow was $17 billion, with a single-day trading volume of $231 million, and a net asset value of $18.14 billion currently;
IBIT: No change in the single-day net outflow. The cumulative net inflow was $15 billion, with a daily trading volume of $506 million, and a current net asset value of $17.08 billion;
FBTC: No change in the single-day net outflow. The cumulative net inflow was $8 billion, with a single-day trading volume of $165 million, and a current net asset value of $9.52 billion;
ARKY: ARKY is a memecoin inspired by the dog of Hal Finney, who is suspected to be Satoshi Nakamoto, despite his strong denial. Yet, he is undeniably tied to the birth of Bitcoin.
Current price: 0.00538 USDT
Historical high: 0.0412 USDT
24-hour increase: 11.1%
Current market cap: $1.5M
ARKB: No change in the single-day net outflow. The cumulative net inflow was $2 billion, with a daily trading volume of $39.39 million, and a current net asset value of $2.71 billion.
TRUMP gathers market attention
Trump announced that he is accepting cryptocurrency donations for the US presidential election, leading to a rapid increase in the heat of related on-chain projects. Memecoin TRUMP has risen by over 40% in the past 24 hours, and the daily increase in TRUMP on runes has exceeded 85%.
CEL rises 67% in the past 24 hours
On May 1st, Celsius Network burnt all 652 million CEL tokens they held, which is 94% of the total CEL. After the destruction, the total supply of CEL is 40.55 million. The current price of CEL is 0.97 USDT, with a rise of 67% in the past 24 hours. The current market cap is $39.33 million.
PEOPLE rises 30% in one day
Benefiting from the promotion of tokens like Trump and BODEN, PEOPLE, which has special significance as memecoin for the people, has risen 30% today after consolidating at the law point for many days. The key consideration going forward is the sustainability of this upward movement and potential increase in contract positions.
GIGA rises over 20% in the past 24 hours
GIGA is a memecoin built on Solana, originating from a photo of Russian bodybuilder Ernest Khalimoff, who is known as gigachad for his perfect physique and jawline. GIGA currently has a market value of $40.63 million, with an on-chain liquidity of $919,000, and a rise of over 20% in the past 24 hours.
On-chain Daily
1.TRUMP: TRUMP is a memecoin that surged following Trump's recent election speech, where he stated that he would fully support cryptocurrency if elected.
Current price: 5.89 USDT
Historical high: 11.72 USDT
24-hour change: +33%
Current market cap: $274M
2.BODEN: BODEN is a memecoin on Solana, mocking current US President Joe Biden. The project was taken over by the community on Mar 10th. Trump referred to Biden as BODEN in his interview yesterday.
Current price: 0.37 USDT
Historical high: 1.08 USDT
24-hour change: -5.6%
Current market cap: $257M
3.Kendu: Kendu is a memecoin that represents a Japanese-style dog.
Current price: 0.0(4)34 USDT
Historical high: 0.0(4)38 USDT
24-hour change: +42.6%
Current market cap: $34M
- Tremp: Tremp is a memecoin on Solana that, similar to BODEN, puns on Trump's name.
Current price: 0.56 USDT
Historical high: 0.68 USDT
24-hour change: +112%
Current market cap: $56M
- Boe: Boe is a memecoin on Base that shares a near-identical image with the Ethereum-based memecoin JOE, differing in that Boe is blue.
Current price: 0.0028 USDT (Historical high)
24-hour change: +5600%
Current market cap: $2.8M
6.Nippy: Nippy is a memecoin on Base, portrayed as a cat high on catnip.
Current price: 0.0012 USDT
Historical high: 0.0014 USDT
24-hour change: +47%
Current market cap: $5M
—
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.
