It’s been a massive week in crypto, with the Bitcoin price jumping above $90K and Ethereum unveiling a 5-Year strategy focused on scalability and security. Meanwhile, MANTRA burned millions of $OM tokens after its 90% collapse, and Trump Media partnered with Crypto.com for “America-First” ETFs. Big moves also came from Tether and SoftBank, while IMX soared on a Ubisoft game deal. Here’s your complete recap of the week’s crypto-top headlines.
Bitcoin Jumps Above $90K, 91% of Holders Now in Profit
Bitcoin surged past $90,000 this week, hitting $95,301 after a strong rally from $83,300. This gain pushed 91% of BTC wallets into profit, this cycle’s highest level. The jump was fueled by $300M inflows into spot ETFs and growing whale accumulation. With solid trading volume and cautious optimism in the market, all eyes are now on the $96,000 resistance level, which could spark further gains if broken.
Ethereum (ETH) Charts a 5-Year Plan Focused on Security and Scalability
Ethereum is taking a long-term approach to upgrades, with Vitalik Buterin prioritizing research over quick fixes. The Pectra upgrade, now set for May 2025, aims to improve staking, security, and lower fees. Over the next three to five years, Ethereum will focus on enhancing Layer 1 and Layer 2 performance, exploring RISC-V to accelerate ZK rollups, and preparing for future threats such as quantum computing. The goal is to keep Ethereum secure, scalable, and ready for mass adoption.
MANTRA Burns 150M $OM Tokens After 90% Crash to Restore Trust
After $OM’s sudden 90% crash wiped out $5.5B in value, MANTRA CEO John Mullin announced a burn of 150 million tokens—his entire allocation—to regain trust. The move aims to reduce total supply by 17% and increase staking rewards. Another 150M token burn is planned with partners, possibly totaling 300M. While some praise the effort, others question its long-term impact, fearing it may signal deeper issues within the project.
Trump Media, Crypto.com to Launch “America-First” Crypto ETFs
Trump Media, Crypto.com, and Yorkville America Digital are collaborating to launch ETFs that blend cryptocurrencies like Bitcoin and CRO with US industry stocks. The funds aim for global distribution, pending SEC approval, targeting investors who want exposure to both digital assets and American sectors, such as energy and tech. TMTG will invest up to $250 million, with plans to introduce additional products under the Truth.Fi brand.
Standard Chartered: Bitcoin Could Hit New Highs Amid Fed Uncertainty
Standard Chartered predicts Bitcoin could soar to new all-time highs as concerns over the Federal Reserve’s independence grow. With Trump threatening to remove Fed Chair Jerome Powell unless rates are cut, investors are losing confidence in US financial stability. The bank views Bitcoin as both a tech proxy and a hedge against systemic risk, maintaining a $200,000 price target for 2025 and $500,000 by 2028, as market fears drive demand for decentralized assets.
IMX Soars 40% as Ubisoft Teams Up with Immutable for Web3 Game
Immutable’s IMX token surged 40% after Ubisoft announced a partnership to launch Might & Magic: Fates, a Web3 card game built on Immutable’s blockchain. The game will give players true ownership of in-game assets, blending Ubisoft’s gaming legacy with Immutable’s Web3 tech. IMX jumped from $0.46 to $0.65 on the news, reflecting strong investor confidence.
Cantor, Tether & SoftBank Launch $3B Bitcoin Fund to Drive Institutional Demand
Cantor Fitzgerald, Tether, and SoftBank are launching a $3 billion Bitcoin investment fund to secure BTC at a set price through 21 Capital. The fund mirrors MicroStrategy’s model but on a larger scale, with Cantor contributing $1.5B in BTC, SoftBank $900M, and Bitfinex $600M. Additional funding of $550M is planned via bonds and private equity. With custody by Copper and Anchorage, this move signals growing institutional confidence in Bitcoin as US regulations turn more favorable.
Donald Trump Token Soars After Exclusive Dinner Announcement
Trump Token jumped over 70% after Donald Trump revealed plans for a private dinner with the top 220 token holders. The event, scheduled for May 22 at Trump National Golf Club, offers VIP perks, including a White House tour, for top-tier holders. Traders rushed in, pushing the trading volume up 548% and boosting the token’s market cap to $2.5 billion. While excitement surged, some remain skeptical of the token’s long-term value.
CME Group to Launch XRP Futures, Eyes May 19 Debut
CME Group, pending regulatory approval, plans to launch XRP futures on May 19, 2025. The new contracts, which are cash-settled in USD, will come in two sizes: 2,500 XRP and 50,000 XRP. This move follows strong growth in CME’s crypto derivatives, with daily volumes reaching $11.3 billion in Q1. Robinhood will offer these futures to retail traders, expanding access to them. The launch could pave the way for a future XRP ETF, as interest in XRP’s fast and low-cost cross-border payments continues to rise.
Solana Stablecoin Supply Hits $12B, Setting New Record
Solana’s total stablecoin supply has surpassed $12 billion, reaching an all-time high and demonstrating strong demand for fast and low-cost transactions. USDC leads the charge, with $9.89 billion in circulation, thanks to its transparency and close ties to institutions. Tether holds second place, but its market share remains flat. Rising stablecoins like USDY and PayPal USD are also gaining traction. Solana’s growing stablecoin dominance highlights its strong infrastructure and role in DeFi, payments, and tokenized assets.
Litecoin Eyes 70% Rally as ETF Hopes Build
Litecoin (LTC) surged over 30% this month, hitting $83.50, fueled by hopes of a spot LTC ETF approval. The price bounced off key support at $61, forming a bullish megaphone pattern that could see LTC jump 70% to $142 if momentum holds. ETF optimism remains high, with firms like Grayscale and CoinShares applying. Long-term holders are also accumulating, adding strength to the bullish case. However, failure to break key technical levels could push LTC down toward $50.
Lazarus Group Sets Up Fake US Companies to Target Crypto Developers
North Korea’s Lazarus Group has been exposed for creating fake US companies to phish crypto developers and steal wallet credentials. Using firms like Blocknovas LLC and Softglide LLC, they posed as legitimate tech startups, posting fake job ads to lure victims into downloading malware. Once infected, hackers gained remote access and stole sensitive data. The FBI has since seized key domains.
TON to Shut Down Ethereum and BSC Bridge as Ecosystem Grows
The TON Foundation will shut down its Toncoin bridge to Ethereum and Binance Smart Chain on May 10, 2025, marking a shift toward native growth. The bridge, launched in 2021 and handling over 100 million TON transfers securely, is now considered outdated. With TON’s DeFi ecosystem maturing and new cross-chain tools like LayerZero available, the bridge is no longer essential. Users must act before the deadline to bridge out, as wrapped TON liquidity on Ethereum and BSC will gradually decline.
