In the past 24 hours, the crypto market has seen significant activity driven by the U.S. Federal Reserve’s interest rate decision, institutional moves, and speculative interest in meme coins. Below is a market recap of the latest, hottest, and trending news.
Crypto Market Overview
- Bitcoin (BTC): BTC surged to over $98,000 this morning after the Federal Reserve maintained interest rates at 4.25% – 4.5%, as expected.
- Ethereum (ETH): ETH dropped to ~$1,800, with some X users comparing its volatility to meme coins. The Pectra upgrade (launched May 7) offers 30% gas savings and sponsored transactions.
Hottest News in the Last 24 Hours
- Fed Holds Rates Steady: The Fed kept interest rates at 4.25% – 4.5% in the May 7 FOMC meeting, marking the third consecutive hold since January 2025. Chair Powell’s neutral stance fueled BTC’s rally to $98,000, though altcoins remain subdued.
- BlackRock’s BTC Accumulation: BlackRock added nearly $3.9 billion in BTC to its ETF over the past two weeks, bolstering institutional confidence and pushing BTC toward $100,000.
- Circle Mints USDT: Circle issued 250 million USDT, boosting market liquidity and supporting speculative trading, particularly in meme coins.
- Tether’s AI Platform: Tether launched a decentralized AI platform integrated with USDT, BTC, and Keet, marking a step toward merging stablecoins with AI technology.
Daily Market Recap – Meme Coin Market
Top Coin Trends:
- $KAITO: Kaito’s native token, powering an AI-driven Web3 InfoFi platform with payments, governance, and incentives, is the first coin of top gainers on Binance.
See more at Details about KAITO AI and $KAITO Launch
- $EOS: Layer 1 EOS rebranded to Vaulta, with its token EOS renamed to A at a 1:1 ratio starting May 14.
- $ZKJ: Binance Alpha launched an airdrop of 50 ZKJ (~$100) for users with at least 142 Alpha Points. Users with 61-141 points and an ID ending in 2 are also eligible.
- $NEAR: Asset manager Bitwise filed with the SEC to launch a NEAR ETF.
- $MOVE: Movement Labs fired CEO and Co-founder Rushi Manche over allegations of abusing authority to favor a contract with a Market Maker (MM).
Top Meme Coin Last 24
- $GORK: New XAI gork on Base, the first of top most visited meme coin, it is probably the meme coin that followed New XAI Gork ($GORK) on Solana, inspired by xAI’s Grok and shilled by Elon Musk.
- $BIG: Built on the Avalanche chain, believe in the greatness, is the first meme coin gainer according to CoinMarketCap.
- $MOG: The internet’s first culture coin, built on Ethereum, landed the second place among top gainers. Check out the keyword “MOG Coin” or “MOG meme coin” on the MevX blog to see other articles for details
- $BABYPEPE: The most memeable memecoin in existence had a baby, born in Ethereum.
- $Mr.Least: Hood Mr Beast ($MrLeast) gains momentum after viral tweet and MrBeast’s reply
Notable Coin Updates
- $BTC: Former Binance CEO Changpeng Zhao (CZ) predicts BTC could reach $1 million in this bull run. Additionally, CZ expects the total crypto market cap to grow 60% to $5 trillion by year-end.
- $TRUMP: The $TRUMP meme coin is gaining traction due to Trump’s crypto ventures, including a $1.5 million-per-plate fundraiser requiring $TRUMP ownership.
- $SUI: Sui is trending on X for aggressive project launches, positioning it as a Solana rival, though it’s not yet leading major trends.
- $LTC: Technical analysis suggests a short-term dip to $80.26 but a potential rise to $148.5 by year-end if markets stabilize.
- $XRP: Ripple funded two educational organizations, DonorsChoose and Teach For America, primarily using its stablecoin RLUSD.
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