Bitcoin market dominance (BTC.D) has surpassed 65%, reaching a new high since February 2021, indicating a rise in market aversion sentiment and pressure on altcoin liquidity. Bitcoin is currently reported at $94,434, with a 24-hour rise of 0.69%, while Ethereum is reported at $1,806, with a rise of 0.96%.
The differentiation of alts is intensifying, while the AI sector rises against the trend by 0.96% (TAO rises by 5.87%). In the PayFi sector, SAFE rises against the trend by 13.78%, SCRT falls by 15.52%, PUNDIX falls by 13.68%, and the Layer2 sector corrects by 2.05%.
The 1 billionth transaction on the Bitcoin network was completed on May 6, marking the continued growth in the usage of the Bitcoin network.
The cryptocurrency fear and greed index has shifted from "fear" to "greed", reflecting a more optimistic market sentiment. Overall, May could become a turning point for the cryptocurrency market, setting the tone for the performance of the entire market in the second quarter.
The U.S. House of Representatives has released the draft "2025 Digital Asset Market Structure Act," clarifying the division of responsibilities between the SEC and CFTC, requiring project parties to disclose key information and provide a compliance pathway.
The proposal for Ripple to acquire the stablecoin giant Circle for $4-5 billion was rejected, causing XRP's price to temporarily plummet by 4.7%. Large holders accelerated the sale of 120 million XRP to exchanges, leading to a strong bearish sentiment in the short term.
After the Dencun upgrade, Ethereum's Gas fee dropped to 0.563 gwei, and the mainnet transaction costs plummeted, attracting developers back. The current price of ETH is $1,813, and the technical indicators show that the RSI has risen to 55, which may signal a rebound.
Gala Games was hacked due to a contract vulnerability, resulting in the issuance of 5 billion GALA (worth $200 million), and a price drop of 20%, exposing internal control risks in DeFi projects.
The EU's new anti-money laundering regulations take effect, banning anonymous accounts and privacy coins, placing KYC scrutiny pressure on DeFi protocols.
The Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange launched the "Special Line for Tech Enterprises" to accelerate the compliance pilot for RWA (Real World Asset Tokenization).
Tether issued 1 billion USDT on the Tron chain, and the proportion of compliant stablecoins continues to rise.
Institutions bet on the RWA track, with BlackRock and Goldman Sachs leading the tokenization of US debt/gold, offering an annualized return of 4-5%.
Short-term risks: Be wary of altcoin liquidity traps, token unlock selling pressure (such as PYTH, AEVO) and regulatory uncertainty.
Long-term opportunities: Focus on compliant assets (BTC/ETH), RWA hard currencies (US Treasuries/gold), and Web3 underlying protocols.
Operational tips: Bitcoin support level at $93,000, breakthrough at $96,000 or hitting the $100,000 mark; ETH watching the $1,850 resistance.
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