The crypto market on May 9, 2025, has been vibrant, driven by macroeconomic shifts, regulatory developments, and a strong meme coin surge. Here’s a concise market recap of the day’s highlights.
Crypto Market Overview
- Bitcoin (BTC): BTC broke past $102,000, up 6% in 24 hours, fueled by U.S. banks gaining approval to trade crypto, per X posts. It’s 40% above April’s low, with nearly $1 billion in short liquidations.
See more at Bitcoin Breaks $101,700 as Bullish Regulation, ETF Inflows, and Trade Deals Drive Momentum
- Ethereum (ETH): ETH surged 21% to ~$2,200, with X users eyeing $2,500-$3,000. The Pectra upgrade’s impact continues, enhancing transaction efficiency.
Market Recap – Meme Coin Highlights
- $CTHULU: A meme coin inspired by Vitalik Buterin’s “Degen Communism”
- $DIDDY: A meme coin brings cultural tribute to the crypto space
- $TITCOIN: a Solana-based meme coin, surges toward All-Time High, nearing $41M market cap
- $DOG: Nobody Knows You’re a Dog, a Solana-based meme coin with an iconic internet narrative
- urmom ($URMOM), urgay ($URGAY), mog/acc ($MOG/ACC): Meme coins created from Gork and Elon Musk narrative surge on Solana
Key Developments
- U.S. Crypto Trading Approval: U.S. banks can now buy and sell crypto, a major catalyst for market optimism, as noted on X.
- Coinbase Acquires Deribit: Coinbase’s $2.9 billion acquisition of derivatives exchange Deribit strengthens its global derivatives market position, per Coin68.
- Fed’s Influence: Post-FOMC stability and Trump’s pro-crypto stance, including Paul Atkins’ SEC appointment, bolster sentiment.
- Liquidations Surge: $836 million in short positions were liquidated, signaling a bullish shift.
Notable Coin Updates
- Picoin: Climbed to #26 on CoinMarketCap at $0.6906, per X.
- Sui ($SUI): Gains traction as a Solana rival, driven by ecosystem growth.
- Ondo ($ONDO): Targets $2-$3 after a strong rebound.
- $SXT Airdrop and bright future for $LINK stakers with Chainlink Rewards Program
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