NiftyNoon: Others Say "We Are So Back", We Say "We Never Even Left": Crypto Keeps Pumping Higher 🔥🐂📈
Major digital assets Bitcoin and Ethereum lead a market resurgence past critical price points, fueled by pivotal upgrades and optimistic sentiment regarding trade policy shifts (May 9, 2025)
Nifty Thought:
Bitcoin dramatically reclaimed the $100,000 mark on May 8th for the first time in over three months, with Ethereum also surging past $2,000 (touching above $2,100-$2,200) as the crypto market shrugged off earlier tariff anxieties. This rally appears linked to positive developments in international trade, including a "historic deal" announced by President Trump with the U.K. and hints of an E.U. agreement, even as baseline tariffs remain. Ethereum saw a particularly strong performance, jumping nearly 20% – its biggest gain since 2021 – largely fueled by restored confidence following its significant Pectra upgrade, which enhances staking and wallet usability. Adding to the bullish sentiment, Standard Chartered's Geoff Kendrick highlighted that strong inflows into spot Bitcoin ETFs are a key driver, suggesting their $120,000 Q2 BTC target might even be too conservative.
This market resurgence marks a significant turnaround from the panic in early April when Trump's initial tariff announcements saw Bitcoin dip below $75,000 and altcoins like Ether suffer over 60% declines. The overall crypto market cap has since recovered from $2.5 trillion to $3.25 trillion, indicating a broader return to risk appetite as investors look past the initial tariff shock, a sentiment mirrored in traditional markets. While the momentum is clearly building, with analysts noting a shift from caution to chasing higher-yield plays, some underlying metrics, like Ethereum's network activity, remain subdued, suggesting a full recovery to prior highs may require sustained growth and broader market participation.
Highlighted News:
All-Time High - Bitcoin/S&P 500 Ratio:
https://x.com/matthew_sigel/status/1920530794470096962
@coinbase acquiring @DeribitOfficial to build the most powerful global crypto platform—bringing spot, futures, and options together under one roof:
https://x.com/coinbase/status/1920465054568218905
Project and Community News:
Coinbase to buy Deribit for $2.9B ($700M cash, 11M shares) in Crypto's Largest Ever M&A: https://x.com/matthew_sigel/status/1920461625183621124?s=46
The @SECGov has announced a settlement with @Ripple, @bgarlinghouse and @chrislarsensf: https://x.com/EleanorTerrett/status/1920575044649898360
Institutions are accumulating $ETH. Abraxas Capital has withdrawn 49,644 $ETH($92M) from Binance and Kraken today: https://x.com/lookonchain/status/1920493043318186019
@SecScottBessent claims the Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act: https://x.com/SecScottBessent/status/1920551341531017606
@brian_armstrong shares his thoughts on Senate finally voting on stablecoin legislation: https://x.com/brian_armstrong/status/1920577730359538008
@coinbase Q1 2025 financial results are now live: https://x.com/coinbase/status/1920577548922003668
Meta is in discussions with crypto firms to introduce stablecoins as a means to manage payouts: https://x.com/FortuneMagazine/status/1920566745108001240
Rumble now holds 210.82 Bitcoin: https://x.com/chrispavlovski/status/1920573753332826279
$BKH reported new all-time peak customer loads at Wyoming Electric, driven by Bitcoin mining: https://x.com/matthew_sigel/status/1920538160276124120
DeFi Dev Corp. has purchased another 20,473 $SOL, bringing total holdings to 420,690 $SOL: https://x.com/defidevcorp/status/1920494509332545552?s=61
SOL Strategies is working to become the FIRST public company to bring registered shares on Solana through @superstatefunds' Opening Bell platform: https://x.com/solstrategies_/status/1920478852926591151
OCC-regulated banks may buy and sell assets held in custody and are permitted to outsource bank-permissible crypto-asset activities, including custody and execution services: https://x.com/USOCC/status/1920180546837053516
Bridge is introducing USDB—a programmable, secure stablecoin designed for developers: https://x.com/Stablecoin/status/1920533471044513945
A new router is now available through Juno. Welcome Express Relay from
@PythNetwork: https://x.com/jupiterexchange/status/1920512913925656785?s=46
ZKsync is now fully EVM Equivalent: https://x.com/zksync/status/1919829194856660996
Standard Chartered Bank analyst apologizes for $120,000 Bitcoin price prediction, says target 'may be too low': https://x.com/WatcherGuru/status/1920468048206496124
$dood x @wallet early access sold out in less than 10 seconds: https://x.com/doodles/status/1920482749602742612
You must have completed the following by 2PM BST on Saturday 10th May on the Rekt Rewards website to be eligible for DRANK points and @AbstractChain XP: https://x.com/rektdrinks/status/1920457720840200615
@virtuals_io Genesis Update - One-Time TP Cooldown Reset: https://x.com/virtuals_io/status/1920553570480632239
Wealthy Hypio Babies on Hyperliquid are cooking, up from 150 $HYPE to 240 $HYPE (~$5k USD) floor price: https://x.com/waleswoosh/status/1920530048475377804
Fidelity's Chris Kuiper presents "The Investment Case for Bitcoin" to corporations interested in adopting BTC: https://x.com/BitcoinMagazine/status/1920131814909202819
Quick Stats:
👾 Blur ETH Daily Volume: 1,558 ETH (▲ 39.61%)
🌊 OpenSea ETH Daily Volume: 1,114 ETH (▼ 30.91%)
🟠 BTC : $103,330.29 (▲ 3.71%)
🔷 ETH: $2,338.24 (▲ 19.90%)
🟣 Solana: $174.32 (▲ 12.74%)
🟪 Polygon: $0.26 (▲ 12.64%)
Top NFT Sales:
CryptoPunks #9686: 55.00 ETH
CryptoPunks #5767: 69.00 ETH
CryptoPunks #1783: 55.99 ETH
NFT Daily Winners:
😡 Mad Lads: 42.00 SOL (▲ 5.25%)
🚬 CryptoPunks: 43.40 ETH (▲ 3.36%)
👩🏻 Milady Maker: 3.20 ETH (▲ 2.47%)
🏴☠ Captainz: 0.56 ETH (▲ 1.26%)
💼 Ordinal Maxi Biz: 0.02 BTC (▲ 0.39%)
🧦 Bitcoin Puppets: 0.03 BTC (▲ 0.30%)
🦧 Bored Ape Yacht Club: 13.64 ETH (▲ 0.29%)
NFT Daily Losers:
🍭 Mocaverse: 1.93 ETH (▼ 0.31%)
🏳🌈 Chromie Squiggles: 4.43 ETH (▼ 0.45%)
🐵 NodeMonkes: 0.03 BTC (▼ 0.54%)
⛩ Azuki: 2.60 ETH (▼ 1.89%)
🧙♂️ Taproot Wizards: 0.16 BTC (▼ 3.18%)
🐱 Quantum Cats: 0.04 BTC (▼ 3.70%)
🐧 Pudgy Penguins: 11.45 ETH (▼ 4.18%)
👾 Tensorians: 3.00 SOL (▼ 11.61%)
Notes:
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