BTC is currently trading around $93,100, ETH around $1,750, and SOL around $151. Notable gainers in the last 24 hours are SUI, FET and POL. The global crypto market cap is $3.01T, down 0.7% over the last day. DeFi Total Value Locked is ~$95b and BTC dominance is around 64%.
Equity markets are higher and crypto is flattish amid continued investor hopes in easing trade tensions, and despite markets dipping earlier in the day after Chinese officials clarified that there were no trade talks with the US currently taking place.
Notable news includes: Binance launched Fund Accounts, which enable fund managers to pool investor funds to streamline fund management and improve trading efficiency; PayPal partnered with Coinbase to remove trading fees for PYUSD; Tether raised its stake in Italian soccer club Juventus to over 10% as part of its broader diversification push; CME Group announced plans to launch XRP futures on May 19, pending regulatory review; Bitcoin ETFs saw $917m in inflows on Wednesday, topping $2b for the week so far; Securitize launched a new index fund in partnership with Mantle called the Mantle Index Four with $400m from Mantle as an initial anchor investment; RockawayX raised a new $125m early stage fund with a focus on Solana ecosystem projects; TON Foundation appointed MoonPay co-founder Maximilian Crown as its CEO; Polygon introduced its Agglayer Breakout Program, which will support projects building in the Agglayer ecosystem and benefit POL stakers with airdrops; Sui partnered with xPortal and xMoney to create a custom wallet product and add Mastercard payment functionality for users in Europe; Helium partnered with AT&T to enable the latter’s subscribers to automatically connect to nearby Helium hotspots when in range; Upbit and Bithumb delisted SNX citing concerns over sUSD’s ongoing depeg; Ether.fi announced it plans to add banking services in a pivot towards providing a neobank-like experience for DeFi; and, Bitcoin layer 2 project Citrea deployed its Clementine bridge on testnet.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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