Market Updates
Macro, Regulation and Markets
China and the United States held high-level economic-trade talks in Geneva and reported “significant consensus” and “substantive progress.” Both sides will create a consultation mechanism, name lead representatives and issue a joint statement on 12 May 2025. [source]
Beijing’s commerce ministry said the two countries will suspend 24 % tariffs for 90 days, maintain a 10 % baseline duty and withdraw several April tariff measures as part of the new accord. [source]
The U.S. Senate failed to advance the GENIUS Act after key Democrats withdrew support, leaving the stable-coin bill short of the 60 votes needed to proceed. [source] A revised draft of the same bill would place Tether under U.S. jurisdiction regardless of its domicile, according to Unchained. [source]
More than US $774 million of unlocks over the next week, including large unlocks for ARB (cliff: 1.95%), AVAX (cliff: 0.34%; linear: 0.17%), STRK (cliff: 7.86%), SOL (linear: 0.09%) and others. [source]
Exchanges and Listings
Binance Alpha listed the Solana-based memecoins MOODENG and GOAT; the former riffs on a Thai celebrity hippo, while the latter is marketed by an AI agent dubbed “Terminal of Truths.” [source]
Binance Futures will launch an OG/USDT perpetual contract with up to 50× leverage, giving OG Esports fans a derivatives market tied to their Socios fan-token. [source]
Binance Alpha will list NEXPACE (NXPC) on 15 May 2025, and Bithumb will open an NXPC/KRW market; NXPC powers Nexon’s MapleStory Universe gaming ecosystem. [source]
Backpack Exchange will start withdrawals for former FTX EU clients on 12 May 2025 after completing the unit’s acquisition and KYC onboarding. [source]
Liquid and Venture Funds
Jump Crypto made a strategic equity investment in Securitize to expand institutional access to tokenised securities; financial terms were not disclosed. [source]
Bitcoin
Tokyo-listed Metaplanet bought another 1,241 BTC, lifting its treasury above El Salvador’s national holdings. [source]
Ethereum
Lido DAO opened an emergency vote to rotate one oracle after validator Chorus One’s key was compromised; the 9-member oracle uses a 9-of-5 multisig, other nodes were unaffected and only 1.4 ETH was lost. [source]
Developments
Alameda Research’s bankruptcy estate unstaked 187,600 SOL (≈ US $32.8 million) on 12 May 2025, leaving about 5.204 million SOL (≈ US $910 million) still locked. [source]
Stripe rolled out stable-coin checkout and payout tools after its US $1.1 billion Bridge acquisition, extending crypto settlement options to merchants across multiple blockchains. [source]
Hyperliquid enabled minting of cross-chain stable-coin USDT0 via HyperEVM and LayerZero, eliminating custom bridges and broadening its multi-chain support. [source]
ETFs
CoinShares recorded US $882 million of inflows into digital-asset investment products last week, the fourth straight gain, nudging year-to-date inflows to US $6.7 billion; Bitcoin products drew US $867 million and Ethereum just US $1.5 million. [source]
U.S. spot Bitcoin ETFs saw net inflows of US $117 million on 8 May 2025, while spot Ethereum ETFs logged a third consecutive daily outflow of US $16.1 million. [source]
Market Data
BTC ETF
BTC ETFs total net daily flow for 2025-05-09 is $321.4M.
Breakdown:
IBIT: +$356.2 M
FBTC: +$45.0 M
BITB: –$14.6 M
ARKB: $0.0 M
BTCO: $0.0 M
EZBC: $0.0 M
BRRR: $0.0 M
BTCW: $0.0 M
GBTC: –$65.2 M
BTC: $0.0 M
Total net daily flow: +$321.4 M
Total cumulative flows to date: $41,782.8M
Sector Returns
Top Performing Sectors
Memecoin sector is up (PEPE up 69.28%, WIF up 67.09%, BITCOIN up 52.90%), up 50.44% in the past 7 days.
Bitcoin Ecosystem sector has risen (STX up 335.17%, PUPS up 78.80%, ORDI up 41.80%), up 46.99% in the past 7 days.
Hyperliquid Ecosystem sector is up (PURR up 52.33%, HFUN up 33.18%), up 45.69% in the past week.
Worst Performing Sectors
Bitcoin sector is up only (BTC up 10.46%), up 10.46% in the past week.
Dino sector is up only (LTC up 17.99%, BCH up 14.79%, BSV up 11.77%), up 10.56% in the past 7 days.
Sui DeFi sector is up only (CETUS up 17.53%, BLUE up 13.53%, DEEP up 7.95%), up 11.53% in the past 7 days.
Token Returns
Top Performing Tokens
STX is up 335.17% in the past 7 days in the Bitcoin Ecosystem sector.
ARB has gained 132.24% in the past 7 days in the L2 sector.
PUPS is up 78.80% in the past 7 days in the Bitcoin Ecosystem sector.
PEPE is up 69.28% in the past 7 days in the Memecoin sector.
PIXEL has risen 68.15% in the past week in the Gaming sector.
Worst Performing Tokens
SAVE is down 31.05% in the past 7 days in the Solana DeFi sector.
VERTEX has fallen 0.81% in the past 7 days in the Perps sector.
MPLX is up only 1.26% in the past 7 days in the Solana DeFi sector.
MPL has gained just 2.03% in the past week in the RWA sector.
MOBILE advanced 5.03% in the past 7 days in the DePIN sector.
Governance
[ARFC] Add PEPE to Aave V3
Protocol: Aave
Date: 2025-05-12 06:51:18
Link: https://governance.aave.com/t/arfc-add-pepe-to-aave-v3/22024
Description: Stani proposed adding the PEPE memecoin to Aave V3, laying out initial risk parameters, supply caps and collateral factors for community review.
LlamaRisk’s Insights: Tokenised RWAs—Legal-Risk Cartography
Protocol: Aave
Date: 2025-05-11 21:49:16
Link: https://governance.aave.com/t/llamarisks-insights-tokenised-rwas-legal-risk-cartography/22021
Description: LlamaRisk published a legal-risk map of tokenised real-world assets, outlining regulatory considerations relevant to future Aave RWA listings.
RockLogic Monthly Notes - 2025-04
Protocol: Lido
Date: 2025-05-12 06:20:40
Link: https://research.lido.fi/t/rocklogic-monthly-notes-2025-04/10039
Description: Stefa2k shared RockLogic’s April validator notes, covering performance metrics, infrastructure upgrades and planned maintenance for Lido nodes.
Comet DevX Suite
Protocol: Compound
Date: 2025-05-11 22:17:10
Link: https://www.comp.xyz/t/comet-devx-suite/6754
Description: FRANK introduced the Comet DevX Suite proposal to streamline development, testing and deployment for Compound’s Comet markets, requesting tooling resources and feedback.
Proposal to add the alUSD/USDC pool on Arbitrum to the Curve Gauge controller
Protocol: Curve
Date: 2025-05-12 09:51:20
Description: Oranges requested a gauge for the alUSD/USDC pool on Arbitrum, allowing LPs to earn CRV emissions and boost incentives.
Voting Report (estmcmxci.eth)
Protocol: ENS
Date: 2025-05-11 21:01:29
Link: https://discuss.ens.domains/t/voting-report-estmcmxci-eth/20775
Description: Estmcmxci outlined their recent ENS votes, providing rationales and delegate participation statistics for transparency.
Voting Report (daostrat.eth)
Protocol: ENS
Date: 2025-05-12 03:45:17
Link: https://discuss.ens.domains/t/voting-report-daostrat-eth/20779
Description: Daostrat.eth summarised their voting activity on recent ENS proposals and explained the governance principles guiding each decision.
Voting Report (thecap.eth)
Protocol: ENS
Date: 2025-05-11 20:31:02
Link: https://discuss.ens.domains/t/voting-report-thecap-eth/20774
Description: Cap detailed their ENS governance votes and the reasoning behind each stance to keep delegates informed.
Voting Report (lefteris.eth)
Protocol: ENS
Date: 2025-05-11 16:58:00
Link: https://discuss.ens.domains/t/voting-report-lefteris-eth/20770
Description: Lefterisjp documented their latest ENS voting record, noting positions on treasury spending and protocol upgrades.
Voting Report (slobo.eth)
Protocol: ENS
Date: 2025-05-11 15:54:31
Link: https://discuss.ens.domains/t/voting-report-slobo-eth/20768
Description: Slobo.eth listed their recent ENS votes and provided context for each choice to maintain delegate accountability.
MEV Theft and Neglected Revenue Within Rocket Pool (Round 15 GMC Grant Report)
Protocol: Rocket Pool
Date: 2025-05-11 21:21:25
Description: ArtDemocrat delivered a Round 15 GMC grant report analysing missed MEV revenue in Rocket Pool and suggesting measures to capture future earnings.
# [GIP-239] Avalanche setup recovery, Berachain instance activation and new public domains
Protocol: Gearbox
Date: 2025-05-11 15:00:41
Link:
https://snapshot.org/#/gearbox.eth/proposal/0x0e537c6aafb6899dd89ac2fc12f605ef4376938825370a0d7d567441c63de715
Description: Gearbox launched Snapshot proposal GIP-239 to restore its Avalanche deployment, activate a Berachain instance and register new public domains; voting is currently active.
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