Summary
gm, Bitcoin reaches a new 10-week high of $97,930 amid positive US jobs data and renewed calls for interest rate cuts. Institutional interest in crypto continues to grow, with Brown University investing nearly $5 million in BlackRock's Bitcoin ETF. Apple has eased restrictions on crypto and NFT apps following an antitrust ruling, potentially opening doors for more innovation in the space. Meanwhile, Ethereum co-founder Vitalik Buterin proposed simplifying Ethereum's base protocol to enhance efficiency and security, aiming to achieve Bitcoin-like simplicity within five years. These developments signal ongoing maturation and mainstream acceptance of the crypto ecosystem, despite some regulatory challenges, as evidenced by Arizona's governor vetoing a bill to include Bitcoin in state reserves.

News Headlines
💡 Bitcoin DeFi Shows Infrastructure Progress Beyond Store of Value

  • Franklin Templeton analyst Kevin Farrelly highlighted advancements in Bitcoin's decentralized finance (DeFi) infrastructure, signaling a shift from its traditional role as merely a store of value.
  • The evolution reflects a maturation of the ecosystem, indicating Bitcoin is becoming integral to the broader financial landscape as institutions explore innovative applications.

🏦 XYO Network Surpasses 10 Million DePIN Nodes

  • XYO Network has successfully onboarded over 10 million nodes to its decentralized physical infrastructure network (DePIN).
  • The majority of participants are individual users providing data in exchange for rewards through the mobile app COIN, with about 80% being non-crypto natives.

⛏️ Bitcoin Mining Attracts Institutional Investors Amid Favorable US Climate

  • The Bitcoin mining industry is increasingly attracting institutional investors, driven by a favorable regulatory environment in the US and Bitcoin's profitability margins.
  • Many mining firms are diversifying operations by allocating resources for AI and high-performance computing, enhancing their revenue streams.

🎮 MapleStory N Crypto Game Launches, But Not in USA and Many Other Countries

  • MapleStory N, a crypto spinoff of the popular MMORPG, is set to launch on May 15, 2025, but will be unavailable in the US, much of Europe, Japan, and South Korea due to regulatory restrictions.
  • The game utilizes its own Avalanche L1 for decentralized item trading, but faces limitations in reaching significant Western and Asian audiences.

🎬 Actor Ben McKenzie to Release Crypto Documentary Featuring SBF, Mashinsky Interviews

  • Ben McKenzie's documentary "Everyone Is Lying to You for Money" will premiere at SXSW London in June 2025, featuring interviews with Sam Bankman-Fried and Alex Mashinsky before their companies' failures.
  • The film aims to expose perceived dishonesty in the crypto space, promising a critical yet comedic portrayal of the industry's shortcomings.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
💼 IRS Crypto Leads Depart After Accepting Doge Deals

  • Several key leaders from the IRS's cryptocurrency division are leaving their positions.
  • The departures follow an uptick in the acceptance of cryptocurrency deals, particularly those associated with Dogecoin.

🚀 Project Open Makes Its Case to the SEC

  • Project Open proposes issuing and trading equity securities directly on public blockchain networks like Solana.
  • The initiative aims to modernize the US equity market by utilizing digital token classes instead of paper shares.

🏛️ Arizona Governor Vetoes Bill to Make Bitcoin Part of State Reserves

  • Arizona Governor Katie Hobbs vetoed a bill that would have allowed the state to include Bitcoin in its official reserves.
  • Hobbs cited concerns over the use of public funds for untested assets and emphasized the strength of the state's current investment practices.

🏦 Deribit Eyes US Expansion Under Crypto-Friendly Trump Admin

  • Deribit, the largest crypto options exchange globally, is considering entering the US market due to a more favorable regulatory environment under President Trump.
  • The regulatory landscape had been restrictive under the Biden administration, leading many crypto firms to pull out of the US market.

🕵️ CIA Deputy Director: Bitcoin is a Matter of National Security

  • CIA Deputy Director Michael Ellis stated that Bitcoin and cryptocurrency usage is integral to the agency's operations.
  • Ellis emphasized Bitcoin's role as a tool for data collection and its increasing adoption by various institutions.

Technical Analysis
Bitcoin - Bitcoin has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 93000 points. Positive volume balance indicates that volume is high on days with rising prices and low on days with falling prices, which strengthens the currency. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken through the ceiling of a falling trend channel in the short term. This indicates a slower falling rate initially, or the start of a more horizontal development. The currency is testing resistance at points 1870. This could give a negative reaction, but an upward breakthrough of points 1870 means a positive signal. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically negative for the short term.