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- #Will BTC Hit a New High?#
BTC has broken past $100,000 and is now consolidating near its peak. What’s your outlook on the next move? With bullish sentiment on the rise, could BTC reach a new all-time high?
#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
What’s next for the market? Which rebound tokens are you most bullish on?
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BTC returns to 100,000 USD, ETH rises over 16% in a single day, Superstate assists SEC in registering stocks on-chain | Gate Research Institute
Crypto Market Overview
BTC (+3.3%丨 102,934 USDT) Affected by favorable factors such as the slowdown in tariff policies, the BTC price has risen by more than 3.3% in the past 24 hours. The price continues to oscillate upward along the rising channel, with a maximum of 104,241 USDT reached in the past 24 hours. From a technical analysis perspective, the K-line shows a stable bullish arrangement and stands firm on the short-term moving average support. In terms of MACD indicators, the fast line and slow line maintain a golden cross state, and the momentum histogram continues to expand, indicating that bullish momentum remains strong. If it can break through the upper pressure of the rising channel, it is expected to challenge the 105,000 USDT integer barrier in the short term; if it faces resistance and falls back, it may retest the support in the range of 102,000 to 100,000 USDT. The overall trend remains bullish, and attention should be paid to whether trading volume can continue to expand to support the upward trend.
**ETH (+16.21% | Current Price 2,214 USDT) ** The price of ETH has continued to fluctuate upwards in the past 24 hours, reaching as high as 2,243.98 USDT, an increase of more than 16%. From a technical point of view, ETH is running steadily in the ascending channel, with the short-term moving average showing a bullish arrangement, and the price is above the 5-day, 10-day and 30-day moving averages on the hourly line as a whole, indicating a clear upward trend. The MACD indicator continues to maintain a golden cross state, and the kinetic energy column expands synchronously, indicating that the bullish momentum is still strong. If it can break through the upper band of the ascending channel in the future, the short-term target is expected to rise to around 2,300 USDT; If the pullback is blocked, it may backtest to the 2,150 to 2,100 USDT range for support. Overall, it is necessary to pay close attention to volume changes to confirm whether the rally can be sustained. 【2】
**ETF ** According to data from Farside Investors, on May 8, the total net inflow of Bitcoin spot ETFs in the United States was $117 million【3】, while the total net outflow of Ethereum spot ETFs in the United States was $16.1 million.【4]
altcoin Frog-Themed, Ether.fi Ecosystem, and PolitiFi segments rose by 32.1%, 27%, and 25.8% respectively, as of May 9, 14:30 (UTC+8). [5]
Three Major US Stock Indices On May 8, the three major U.S. stock indices collectively rose, with the S&P 500 index increasing by 0.58%, the Dow Jones index rising by 0.62%, and the Nasdaq Composite index up by 1.07%.【6】
spot gold The spot gold price is $3,282.78 per ounce, with a daily drop of 0.69%. The data is as of May 9, 10:30 AM (UTC+8).【7】
Fear and Greed Index Fear and Greed Index 73, the market is in a greedy state, the sentiment is relatively optimistic, indicating that the current pullback or more reflects technical consolidation and a wait-and-see attitude towards the upcoming data.
Popular Tokens on Juejin
*VIRTUAL ** Virtuals Protocol (+42.1%, circulating market cap 1.326 billion USD) *
Hot Coin Observation VIRTUAL is the native token of the Virtuals Protocol platform, which is dedicated to building a decentralized trading network for virtual asset derivatives. It allows users to freely price and trade around events, assets, and data flows in the virtual world. The protocol integrates on-chain derivative mechanisms with social interaction design, focusing on two core concepts: "tradeability of virtual assets" and "gamification of prediction markets."
Market Consensus Currently, the platform is actively promoting key upgrades including multi-chain deployment, optimization of virtual asset valuation models, and implementation of community governance mechanisms. These initiatives are seen by the market as effective measures to enhance the platform's functionality, scalability, and user engagement, thereby further consolidating its position in the Web3 virtual financial infrastructure sector. Investors have a positive attitude towards these developments, believing that they will bring long-term value growth to the VIRTUAL token.
**IP ***Story (+35.5%, circulating market value 1.423 billion USD) *
Hot Coin Observation IP is the native token of the Story Protocol, which aims to reshape the creation, management, and monetization of intellectual property, building an open and modular Web3 IP infrastructure. The protocol allows creators to register their works as on-chain assets, track their evolution, and promote content collaboration and re-creation through an authorization mechanism, stimulating a stronger content network effect.
Market Consensus Currently, Story Protocol has received support from several well-known venture capital firms and plans to further expand on-chain copyright agreements, profit-sharing mechanisms, and cross-platform content integration. The market generally believes that these development directions will effectively address the pain points of traditional intellectual property management and monetization, empowering creators to achieve sustained value realization in a decentralized world, thereby increasing the demand and price for its native token IP.
**PEPE ***Pepe (+29.5%, circulating market cap 4.6 billion USD) *
Hot Coin Observation PEPE is a cryptocurrency based on meme culture and has successfully entered the mainstream Meme track. Its token is inspired by the famous internet meme character "Pepe the Frog" and has rapidly attracted market attention since its launch, thanks to its strong community enthusiasm and high transmissibility. The project does not set up pre-mining or retain team shares, and is completely community-driven, highlighting its decentralization and entertainment attributes.
Market Consensus The significant rise of PEPE is mainly benefited from the overall market sentiment in the current Meme coin sector. Additionally, the PEPE project actively promotes community governance and seeks cross-border collaboration with mainstream Meme IPs, aiming to continuously expand its influence in the Web3 entertainment ecosystem. These strategic initiatives are expected to enhance the community cohesion of PEPE, attract more market attention, and provide further upward momentum for its price.
Alpha Data
Bitcoin's market value returns to $2 trillion, surpassing Google to become the sixth largest asset globally
Core Data The market capitalization of Bitcoin (BTC) has returned to the 2 trillion USD mark, currently reaching 2.036 trillion USD, with a 24-hour increase of 3.27%. It has surpassed internet giant Google, rising to sixth place in the global asset market capitalization rankings. This is the first time Bitcoin has returned to 100,000 USD in three months, marking a new high since early February. Meanwhile, the overall market capitalization of cryptocurrencies has also significantly rebounded, currently reaching 3.22 trillion USD, with a 2% increase over the past 24 hours, reflecting a continuous warming of overall market sentiment.
Data Interpretation The market value of Bitcoin has returned to 2 trillion USD and has crossed the 100,000 USD mark, driven by two major macro favorable news. On one hand, Federal Reserve Chairman Powell indicated that there would be a rate cut sometime this year, while emphasizing that inflation and unemployment risks remain relatively high. Ongoing inflationary pressures will drive investors to seek inflation-resistant assets, and Bitcoin, as "digital gold", has regained favor. On the other hand, former U.S. President Trump publicly stated that he is advancing a tariff agreement with the UK. This statement, combined with the upcoming trade negotiations between China and the U.S., has significantly boosted global risk appetite, driving capital into high-volatility assets, including the crypto market. [9]
Rumble Q1 revenue grew 34%, betting on encryption wallet to challenge Coinbase
Core Data Video sharing platform Rumble (NASDAQ: RUM) announced its Q1 2025 financial report, with revenue reaching $23.7 million, a year-over-year increase of 34%, primarily benefiting from subscription growth and improved platform monetization. Despite monthly active users dropping to 59 million, the user retention rate after the U.S. elections reached 87%, significantly higher than the 60% after the 2022 midterms. The company's net loss narrowed to $2.7 million, with an adjusted EBITDA loss of $22.7 million. The average revenue per user (ARPU) was $0.34, a quarter-over-quarter decrease of 13%. As of the end of March, the company held $319 million in liquid assets, including $301 million in cash and 210 bitcoins (approximately $17.4 million).
Data Interpretation Rumble delivered strong growth in the first quarter of 2025, driven by cloud service expansion and international business advancement. The company's balance sheet has improved significantly due to a cloud services agreement with the government of El Salvador and a strategic investment from Tether. Rumble also plans to launch "Rumble Wallet," a non-custodial crypto wallet partnered by Tether in Q3, which supports Bitcoin and stablecoins, positioning it as a competitor to Coinbase. During the same period, the company expanded its content ecosystem, attracting the White House and popular anchor Tim Pool, and jointly sued a Brazilian judge with the Trump Media Group, emphasizing its free speech stance. Rumble has also partnered with the Tampa Bay Buccaneers, Rebel News, and others to diversify its cloud services. 【10】
The trading volume of stablecoins reached a historic high last month, totaling 1.82 trillion USD
Core Data The trading volume of stablecoins reached $1.82 trillion last month, setting a new historical record, demonstrating their continued growth in practical applications within the crypto market. Despite increased volatility in overall crypto trading volumes, the organic and non-speculative use of stablecoins is on the rise, reflecting their important role in payments, settlements, and capital flows. The current market may still be underestimating the long-term potential and systemic value of stablecoins.
Data Interpretation The trading volume of stablecoins has reached an all-time high, which is not solely due to speculation, but also reflects their expanding practical applications in the crypto market. The driving factors behind this include the increasing demand for cross-border payments, the recovery of the DeFi ecosystem, the rising demand for stablecoins as core assets, the perception of stablecoins as safe-haven assets during periods of global economic instability, greater institutional participation and innovation in stablecoin products, as well as advancements in on-chain technology that reduce transaction costs and increase speed. In summary, the record high trading volume of stablecoins indicates that they are transitioning from speculative tools to key infrastructure in the digital economy.
Alpha Interpretation
Superstate launches "Opening Bell", supporting SEC registered stock issuance and trading on the blockchain
Overview of Details Superstate has launched an innovative platform called "Opening Bell," aimed at supporting stocks registered with the U.S. Securities and Exchange Commission (SEC) to be issued and traded directly on the blockchain. The project plans to deploy first on the Solana chain, achieving a native integration of traditional equity and blockchain technology. Recently, Superstate has partnered with several institutions to submit relevant framework proposals to the SEC. Through "Opening Bell," issuers are expected to bypass traditional centralized exchanges (CEX) and conventional listing processes, utilizing blockchain infrastructure for continuous trading and real-time settlement of stocks. "SOL version microstrategy" SOL Strategies is expected to be the first to bring its common stock on-chain on Solana through this platform. [12]
Hotspot Interpretation Superstate supports SEC-registered stocks to be issued and traded directly on the Solana chain, hoping to make it a pioneer and key infrastructure provider in the field of compliant securities tokenization, enhancing its influence in the fintech sector. By being the first to deploy on the high-performance Solana chain, Superstate may attract more traditional financial institutions and issuers seeking efficient, low-cost trading solutions, potentially breaking down the barriers between the crypto market and traditional financial markets, attracting more institutional capital and traditional investors into the digital asset space, accelerating the industry's compliance and maturity, and laying the foundation for the emergence of more innovative financial products in the future.
Bridge launches a developer-exclusive stablecoin USDB, supported 1:1 by cash and BlackRock money market funds
Overview Details The payment platform Bridge has launched a stablecoin named USDB specifically designed for developers. This stablecoin is backed 1:1 by cash and BlackRock's money market fund, aiming to provide on-chain and off-chain security guarantees, and enabling convenient integration through API interfaces. USDB supports seamless conversion with USDC, allowing developers to earn rewards by holding USDB. Currently, developers are utilizing USDB to build various functions including treasury management products, embedded accounts, and international payments.
Hotspot Interpretation Bridge is entering the stablecoin market with a differentiated developer ecosystem. USDB focuses on developer needs, indicating that future stablecoins will play a key role in broader application scenarios such as embedded finance and automated payment processes, thereby accelerating their practical implementation in the entire crypto industry and promoting the development of the digital economy. At the same time, the addition of USDB further enriches the participants in the stablecoin market, and its support from cash and BlackRock money market funds may enhance market trust in new stablecoins.
Legislation on stablecoins blocked in the Senate, failing to pass with a vote of 49:48
Detailed Overview The stablecoin legislation encountered obstacles in the U.S. Senate, with the bill narrowly losing in Thursday's vote by 49 to 48, failing to reach the required 60 votes, primarily due to opposition from Democrats. Nevertheless, there is still a possibility for both parties to reach a compromise in the coming weeks, with several Democratic lawmakers emphasizing that stablecoin regulation is crucial for protecting consumers and regulating the industry. Meanwhile, Democratic Senator Warren and others expressed strong dissatisfaction with the "Hodl for Dinner" marketing campaign launched by the organizers of the TRUMP token.
Hotspots Interpretation The legislation on stablecoins has encountered initial obstacles in the Senate, but the regulatory game continues. In the coming weeks, both sides may still reach a compromise, which is crucial for the long-term development of the stablecoin market. A clear and reasonable regulatory framework will help eliminate uncertainty, attract more institutional investors and traditional financial institutions, and promote the widespread application of stablecoins in payments, settlements, and other areas. In the short term, the stablecoin market may continue to face volatility brought about by regulatory uncertainty.
Has the investor taken action?
According to RootData, a total of 5 projects publicly announced financing in the past 24 hours, involving various fields such as CeFi, consumer applications, and DeFi, with a total financing amount exceeding 2.92 billion USD. Here are the details of the top three ranked by financing amount: 【15】
Deribit
Acquired by Coinbase for $2.9 billion The crypto options exchange Deribit was acquired by Coinbase for $2.9 billion, which includes $700 million in cash and 11 million shares of Coinbase Class A common stock. The final transaction price will be adjusted based on customary practices and is expected to be completed by the end of this year. Founded in 2016, Deribit is the world's first digital currency options platform and currently holds over 80% of the global crypto options market share, consistently ranking in the top ten globally in terms of futures trading volume and open interest. Coinbase's acquisition of Deribit aims to integrate spot, futures, and options trading operations to build a more comprehensive crypto asset trading ecosystem.
T-REX
Completed a $17 million financing round, with investors including Portal Ventures and others Web3 consumer entertainment platform T-Rex has completed a $17 million Pre-Seed financing, attracting investments from Portal Ventures, Framework Ventures, and Arbitrum Gaming Ventures. The T-Rex platform is built by Web3 product developer EVG, with its underlying blockchain optimized for consumer applications. It tackles the Web3 traffic challenge by tracking user content interactions on platforms such as X, TikTok, and YouTube through a built-in distribution engine (Chrome extension). All decisions within the protocol, from Gas fees to consensus mechanisms, have been optimized for consumer use cases.
GoQuant
Completed $4 million financing, with GSR as the investor Digital asset trading infrastructure provider GoQuant has announced the completion of a $4 million seed round financing, led by GSR. The funds will be used to accelerate the development of a low-latency trading execution system and expand institutional business. GoQuant is dedicated to providing infrastructure for digital assets, focusing on enhancing the accessibility and efficiency of the blockchain ecosystem. Its platform offers advanced analytics, secure protocols, and integrated features, serving various participants in the digital asset space.
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Miden
Miden is an Ethereum Layer 2 scaling solution launched by Polygon, based on zk-STARKs technology, aimed at improving the scalability and security of Ethereum. At the end of April, Miden completed a $25 million seed round financing, led by a16z, Hack VC, and 1kx, and plans to allocate 10% of its future total token supply to Polygon token holders.【16】
Participation Method
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Reference Material:
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