ASXN Daily 15-05-2025
Market Updates
Macro, Regulation and Markets
Data published by the U.S. Bureau of Labor Statistics on 15 May 2025 show the Producer Price Index fell 0.5 % in April and rose 2.4 % year-on-year, the sharpest monthly drop since April 2020. [source]
On 15 May 2025 Nebraska’s legislature passed a bill in its final reading that imposes zoning and noise limits on crypto-mining facilities. [source]
JPMorgan settled its first tokenised U.S. Treasury transaction on a public chain on 14 May 2025, buying tokenized treasury bonds on the Ondo public ledger and triggering crosschain payments via Chainlink’s CCIP from a private-blockchain account. [source]
About US$3.1 billion in Deribit Bitcoin and Ethereum options expire on 16 May 2025; BTC contracts total US$2.66 billion with max pain at US$100,000, while ETH contracts total US$525 million with max pain at US$2,200. [source]
$63.5M USD in ETF Flows for ETH ETFs yesterday, coming from ETHA (+$57.6M) and FETH (+$5.9M). Cumulative flows now sit at $12,909.5M (including the initial seed of $10,255M).
In the last 24h 161,065 traders were liquidated for $359.59M, with longs accounting for $291.39M and shorts $68.20M; the largest single liquidation was a $2.64M ETHUSDT position on Binance. Liquidations over shorter windows were $227.84M in 12h, $50.55M in 4h, and $9.26M in 1h. [source]
Exchanges and Listings
Coinbase said bribed overseas support agents copied personal data for under 1 % of active users; the exchange rejected a US$20 million ransom and is offering the same amount as a bounty for information on the attackers. [source]
CEO Brian Armstrong told Bloomberg on 14 May 2025 that Coinbase is evaluating further acquisitions after its US$2.9 billion Deribit deal, with a focus on international expansion; no decision has been made on buying Circle. [source]
Binance will list Nexpace (NXPC) at 07:30 UTC on 15 May 2025, offering pairs in USDT, USDC, BNB, FDUSD and TRY, and tagging the token as Seed; a HODLer airdrop is live. [source]
Ethereum
The Ethereum Foundation on 14 May 2025 launched the “Trillion Dollar Security” initiative to fund wallet, UX and smart-contract improvements aimed at institutional-grade safety. [source]
More than 11,000 EIP-7702 smart-wallet authorisations have been recorded within a week of the Pectra upgrade, indicating rapid adoption of the new account model. [source]
Developments
Backpack Exchange and Wallet now support the Sui network, enabling trading, lending, bridging and yield on SUI, with promotional rewards exceeding US$200,000. [source]
Tether unveiled QVAC, a peer-to-peer AI platform that runs on local devices and lets autonomous agents execute BTC and USDT transactions via its WDK toolkit. [source]
Squads introduced a stablecoin treasury account service for businesses, offering multi-sig controls and on-chain auditability. [source]
Kaito Foundation said its market-making deal with Web3Port ran from 17 to 27 February 2025 and that it has not sold KAITO tokens since the token-generation event; Binance listed the token on 20 February 2025. [source]
Believe, an app that lets Twitter users mint tokens, had the third most memecoin volume of any launchpad, behind pumpdotfun and Meteora yesterday. Its associated token LAUNCHCOIN reached a market cap of 357M yesterday. Tokens list on a bonding curve with an anti-snipe fee, creators collect 50 % of trading fees, and projects that reach a US$100K market cap “graduate” to a Meteora DEX pool for deeper liquidity. [source]
Market Data
BTC ETF
BTC ETFs total net daily flow for 14 May 2025 is +$319.5M.
Breakdown:
IBIT: +$232.9M
FBTC: +$36.1M
BITB: +$2.8M
ARKB: +$5.2M
BTCO: $0.0M
EZBC: $0.0M
BRRR: $0.0M
HODL: +$7.3M
BTCW: $0.0M
GBTC: $0.0M
BTC: +$35.2M
Total net daily flow: +$319.5M
Total cumulative flows to date: $42,029.2M
ETH ETF
ETH ETFs total net daily flow for 14 May 2025 is +$63.5M.
Breakdown:
ETHA: +$57.6M
FETH: +$5.9M
ETHW: $0.0M
CETH: $0.0M
ETHV: $0.0M
QETH: $0.0M
EZET: $0.0M
ETHE: $0.0M
ETH: $0.0M
Total net daily flow: +$63.5M
Total cumulative flows to date: $12,909.5M
Sector Returns
Top Performing Sectors
NFT sector is up 0.69% over the past 24 hours, supported by token moves (BLUR down 5.85%, TNSR down 5.71%, PENGU up 3.14%).
Privacy sector is up relative to peers, only 0.44% over the past 24 hours (ZEC down 2.52%, XMR down 0.21%).
Worst Performing Sectors
Modularity sector is down 8.25% over the past 24 hours, reflecting broad weakness (DYM down 14.05%, TIA down 7.94%, ALT down 7.33%).
Bitcoin Ecosystem sector is down 7.95% in the past 24 hours (PUPS down 15.48%, STX up 7.87%, ORDI down 6.90%).
L2 sector has fallen 5.83% over the past 24 hours with mixed performance (BLAST up 13.60%, ARB down 13.24%, OP down 8.38%).
Token Returns
Top Performing Tokens
MPL is up 144.20% in the past 24 hours, making it among the top performers in the RWA sector.
BLAST is up 13.60% in the past 24 hours, making it among the top performers in the L2 sector.
GRASS has risen 12.41% in the past 24 hours, making it among the top performers in the AI sector.
WLD is up 12.25% in the past 24 hours, making it among the top performers in the AI sector.
BONK is up 11.29% in the past 24 hours, making it among the top performers in the Memecoin sector.
Worst Performing Tokens
PUPS is down 15.48% in the past 24 hours, making it among the worst performers in the Bitcoin Ecosystem sector.
DYM is down 14.05% in the past 24 hours, making it among the worst performers in the Modularity sector.
ARB has fallen 13.24% in the past 24 hours, making it among the worst performers in the L2 sector.
SEND is down 11.98% in the past 24 hours, making it among the worst performers in the Sui DeFi sector.
KMNO is down 10.40% in the past 24 hours, making it among the worst performers in the Solana DeFi sector.
Protocol Updates
Erigon and Nethermind Join Arbitrum
Protocol: Arbitrum
Date: 2025-05-14 14:00:22
Link: https://blog.arbitrum.io/erigon-and-nethermind-join-arbitrum/
Description: Arbitrum posted that Ethereum clients Erigon and Nethermind have integrated with its network, expanding node software options for builders and validators.
Lido Protocol’s wstETH Now Available on Swellchain
Protocol: Lido
Date: 2025-05-14 12:48:18
Link: https://blog.lido.fi/wsteth-now-available-on-swellchain/
Description: Lido posted that its wrapped staked Ether (wstETH) is now supported on Swellchain, giving stakers additional liquidity and DeFi access.
SNXweave Weekly Recap 181
Protocol: Synthetix
Date: 2025-05-14 17:52:23
Link: https://blog.synthetix.io/snxweave-weekly-recap-181/
Description: SNXweave posted its Weekly Recap 181 covering recent governance proposals, protocol metrics, and ecosystem updates across Synthetix.
Upshift, Launches on Injective
Protocol: Injective
Date: 2025-05-14 14:54:00
Link: https://blog.injective.com/the-largest-institutional-yield-platform-upshift-launches-on-injective/
Description: Injective posted that Upshift, described as the largest institutional yield platform, has launched on the network, offering new investment products for traders and institutions.
Governance
[ARFC-Addendum]: Supply and Borrow Cap Risk Oracle Constraint Specification
Protocol: Aave
Date: 2025-05-15 12:38:46
Description: ChaosLabs posted an addendum specifying oracle-based constraints for supply and borrow cap risk parameters on Aave V3.
Chaos Labs Risk Stewards - Increase Supply and Borrow Caps on Aave V3 - 05.14.25
Protocol: Aave
Date: 2025-05-14 21:23:58
Description: ChaosLabs proposed raising supply and borrow caps on several Aave V3 assets based on updated utilisation metrics.
Kamino: Season 3 Distribution
Protocol: Kamino Finance
Date: 2025-05-14 14:24:25
Link: https://gov.kamino.finance/t/kamino-season-3-distribution/557
Description: Owayne_Maphumulo posted details of the Season 3 KMNO token distribution plan for Kamino participants.
[DIP v1.6] Delegate Incentive Program Results (April 2025)
Protocol: Arbitrum Foundation
Date: 2025-05-14 23:00:38
Link: https://forum.arbitrum.foundation/t/dip-v1-6-delegate-incentive-program-results-april-2025/29218
Description: olimpio posted the April 2025 results of Arbitrum’s Delegate Incentive Program, detailing participation metrics and incentive allocations.
[Non-Constitutional] Invest in Builders & Ignite ARB Demand with q/acc
Protocol: Arbitrum Foundation
Date: 2025-05-14 15:36:33
Description: Griff proposed a non-constitutional initiative to invest in builders and stimulate ARB demand via the q/acc mechanism.
Optimism Fractal Season 6: Expanding Democratic Coordination Across the Superchain
Protocol: Optimism
Date: 2025-05-15 12:37:35
Description: Optimystics proposed running Optimism Fractal Season 6 to broaden democratic coordination across the Superchain.
Superscan Metrics Overview: Retro Funding Season 7
Protocol: Optimism
Date: 2025-05-15 11:42:11
Link: https://gov.optimism.io/t/superscan-metrics-overview-retro-funding-season-7/9923
Description: 0x_rebeca posted an overview of Superscan metrics intended to inform evaluation of Retro Funding Season 7 submissions.
Proposal : Introduction of a New Penalty Mechanism for Sandwich Attackers
Protocol: Marinade Finance
Date: 2025-05-14 13:06:55
Description: SouthCloud0703 proposed adding a penalty mechanism to deter sandwich attacks within the Marinade ecosystem.
SPP2 - Transition & Implementation Plan
Protocol: ENS
Date: 2025-05-15 02:50:02
Link: https://discuss.ens.domains/t/spp2-transition-implementation-plan/20796
Description: daostrat.eth posted a plan outlining steps to implement the SPP2 transition within ENS governance.
ENS Subname Solution Contract Generator/Deployer
Protocol: ENS
Date: 2025-05-14 13:16:30
Link: https://discuss.ens.domains/t/ens-subname-solution-contract-generator-deployer/20792
Description: clowes.eth introduced a tool for generating and deploying ENS subname solution contracts.
Frontier Markets: Risk-isolated looping vaults
Protocol: Euler Finance
Date: 2025-05-15 07:32:59
Link: https://forum.euler.finance/t/frontier-markets-risk-isolated-looping-vaults/1405
Description: Objective proposed introducing risk-isolated looping vaults targeting frontier markets on Euler.
Update on Fee Distribution & Auto-Bribing Activation on Berachain clusters
Protocol: Euler Finance
Date: 2025-05-14 14:40:46
Description: 0xMagikarp posted an update on enabling fee distribution and auto-bribing features for Euler deployments on Berachain clusters.
Disabling Protocol DAO Guardian
Protocol: Rocket Pool
Date: 2025-05-15 04:41:05
Link: https://dao.rocketpool.net/t/disabling-protocol-dao-guardian/3617
Description: langers proposed removing the Protocol DAO Guardian role from Rocket Pool’s governance framework.
Separating Retrievability from Availability: Implications for the DA Network
Protocol: Celestia
Date: 2025-05-14 19:41:04
Description: nashqueue posted an analysis on separating data retrievability from availability and its impact on Celestia’s data-availability network.
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