Crypto Market Performance

Currently, the total crypto market capitalization is $3.23 trillion, with BTC accounting for 63.51%, valued at $2.05 trillion.Stablecoin market cap is $242.7 billion, with a 7-day increase of 0.04%, of which USDT accounts for 61.96%.

This week, BTC's price has been oscillating upward, currently at $103,158; ETH has also been oscillating upward, currently at $2,335.

CoinMarketCap Among the top 200 projects, most are rising with some declining, including: PNUT with a 7-day increase of 93.83%, MOG with a 7-day increase of 71.4%, PEPE with a 7-day increase of 45.43%, WIF with a 7-day increase of 32.29%.

This week, US Bitcoin spot ETF net inflow: $919.3 million; US Ethereum spot ETF net outflow: $38.2 million.

The "Fear & Greed Index" on May 10th is 70 (higher than last week), with sentiment: 2 days neutral, 5 days greedy.

Market Forecast:

This week, stablecoins continued to be issued, with significant inflows into US Bitcoin spot ETF and small net outflows from Ethereum ETF. Due to Trump's policy declaration on tariff relaxation, even though the Federal Reserve remains firm that it is not currently appropriate to cut rates, BTC broke through from $97,000 to $104,000. However, on-chain data shows that after breaking $100,000, profit-taking addresses have started to sell. If BTC wants to break its previous high, it still needs the Federal Reserve's quantitative easing policy and a large influx of funds. It's worth noting that altcoins with good fundamentals have shown high gains this week.

The market remains in a greedy sentiment. The probability of the Federal Reserve cutting rates by 25 basis points in June is only 17.1%, lower than last week, suggesting June rate cuts are unlikely, and we'll need to wait and see about July. With most countries' quantitative easing policies, multiple US states passing Bitcoin strategic reserve laws, and some global listed companies actively "grabbing Bitcoin", the outlook for 2025 remains optimistic. However, summer may see liquidity shortages, so partial profit-taking is recommended.

2. NEAR's proposal for a chain abstraction relayer is open for application before May 15, with the RFP aimed at building a chain abstraction relayer infrastructure that will enable developers to seamlessly sponsor gas fees or allow users to pay for cross-blockchain transaction fees, accepting base tokens (such as ETH, SOL) and mainstream stablecoins (USDT/USDC) as gas deposits;

3. Distributed verification infrastructure Obol will have its TGE on May 15.

Important Events

1. Galaxy plan to list on Nasdaq on May 16.

Token Unlocks

1. Starknet (STRK) will unlock 152 million tokens on May 15, valued at approximately $27.69 million, representing 1.63% of circulating supply;

2. Cyber (CYBER) will unlock 4.23 million tokens on May 15, valued at approximately $6.2 million, representing 4.23% of circulating supply;

3. Sei (SEI) will unlock 224 million tokens on May 15, valued at approximately $56.01 million, representing 2.25% of circulating supply;

4. Immutable (IMX) will unlock 24.52 million tokens on May 15, valued at approximately $16.2 million, representing 1.23% of circulating supply;

5. Solayer (LAYER) will unlock 46.39 million tokens on May 15, valued at approximately $58.54 million, representing 4.64% of circulating supply;

6. Apecoin (APE) will unlock 13.34 million tokens on May 17, valued at approximately $9.9 million, representing 1.54% of circulating supply.

About Us

Hotcoin Research, as the core research and investment hub of the Hotcoin ecosystem, focuses on providing professional in-depth analysis and forward-looking insights for global crypto asset investors. We build a three-in-one service system of "trend judgment + value mining + real-time tracking", offering precise market interpretation and practical strategies for investors at different levels through in-depth analysis of cryptocurrency industry trends, multi-dimensional assessment of potential projects, and round-the-clock market fluctuation monitoring, combined with bi-weekly "Hotcoin Strict Selection" strategy live broadcasts and daily blockchain news updates. Leveraging cutting-edge data analysis models and industry resource networks, we continuously empower new investors to establish cognitive frameworks and help professional institutions capture alpha returns, jointly seizing value growth opportunities in the Web3 era.

Risk Warning

The cryptocurrency market is highly volatile, and investment inherently carries risks. We strongly recommend that investors invest only after fully understanding these risks and within a strict risk management framework to ensure fund safety.

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