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Share link:In this post: A Franklin Templeton report suggested that Solana threatened Ethereum due to its growing influence. Solana’s DEX volumes surpassed the Ethereum ecosystem in January, highlighting a potential market shift. According to the report, the shift to activity to the layer two blockchain shows the Ethereum scaling approach was working.
Bitcoin is currently consolidating within a symmetrical triangle formation, with converging trendlines indicating a period of consolidation preceding an expected breakout soon. Technical analysis identifies key support near $86,000-$88,000 and resistance between $92,000 and $94,000, while traders monitor volume for confirmation in upcoming sessions. A recent sharp drop followed by a strong recovery formed the triangle pattern, setting the stage for a potential 20% price movement.
TRUMP surged 8.43% to $15.02, breaking a descending wedge and indicating strong buying momentum. RSI stands at 59.20 points indicating mild upward strength although MACD signals possible market consolidation or a correction phase may occur. TRUMP can drive its price towards $18.00 and beyond if support stays above $13.44 despite market volatility.
Quick Take Late Thursday, President Trump signed an executive order to establish a U.S. Strategic Bitcoin Reserve, capitalized by the approximate 200,000 BTC ($18 billion) already owned by the federal government, forfeited as part of criminal or civil proceedings. Standard Chartered Global Head of Digital Assets Research Geoff Kendrick suggested one option for funding the U.S. Strategic Bitcoin Reserve in a budget-neutral way would be to sell part of its $760 billion gold reserves.
Quick Take Trump signed an executive order to create a strategic bitcoin reserve and digital asset stockpile the day before the summit. Big crypto industry players, including Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi and lawmakers such as House Majority Whip Tom Emmer, R-Minn, among others, attended the summit.
- 01:09Key Points of the Market on May 91) Market Trend: BTC surged back to $100,000. The altcoin leader ETH rebounded on a weekly level, and altcoins may have relative opportunities in the next 2-3 months. U.S. stocks rose. U.S. media reported that tariffs on China might be reduced to 50% next week. 2) Market Hotspots: 1. The public chain ETH surged, leading ETH-based projects, including meme's PEPE, Neiro, Moodeng, and the ecosystem Eigen, ETHFi, ENA, etc. 2. The public chain SUI surged, being the most aggressive rising public chain recently. 3. The AI sector's Virtual, Fartcoin, etc., surged. Virtual's new staking launch mechanism is a Ponzi flywheel.
- 01:05Camp Network launches its first public testnet "K2" focusing on intellectual property managementAccording to The Block, Camp Network announced the launch of its first public testnet "K2", focusing on intellectual property management. The project completed a $30 million Series A funding round in April, led by 1kx and Blockchain Capital. Camp stated that dozens of dApps will be deployed before the mainnet launch, with ecosystem partners covering over 5 million users and creative content. Camp is also building a "rights-clearable AI training data marketplace" to promote verifiable traceability and fair monetization of IP in fields such as art, music, and data.
- 01:05Acurast to Launch Token Sale on CoinList at 1 AM on May 16According to the CoinList announcement, the decentralized computing network Acurast will start its token sale on CoinList at 1:00 AM on May 16 (UTC+8), with tokens 100% unlocked. Acurast utilizes smartphones to build a decentralized computing platform, with over 65,000 devices connected. The total sale amount is 60 million ACU, priced at $0.09 each, with a valuation of $90 million. A "bottom-up" allocation mechanism is adopted, prioritizing small buyers. This sale is not open to specific regions such as the United States and Canada.