Cryptocurrency Market in May 2025
On May 9, ETH surpassed the $2,100 mark and is currently trading at $2,107.87, increasing by 2.74% for the day. This is a positive sign for this cryptocurrency as the market shows signs of recovery after recent fluctuations. However, this information is purely market-related and should not be considered investment advice.
On May 8, BTC exceeded $101,000, rising 4.29% for the day. On the same day, the total liquidation value on the network reached $492 million, primarily short positions. Previously, BTC had also crossed the $100,000 mark, with an increase of 3.17%.
In another development, Abraxas Capital withdrew 49,644 ETH from two exchanges, equivalent to approximately $92 million. This indicates a significant capital movement in the market. Also on May 8, ETH surpassed $2,000, recording a 10.23% increase.
Additionally, a whale deposited 8.58 million USDC into Hyperliquid and executed an ETH trade with 2x leverage. This is a bold move, demonstrating confidence in ETH's potential price increase in the near future.
