The crypto market experienced significant developments driven by macroeconomic events, technological upgrades, and activity in meme coins and major cryptocurrencies over the past 24 hours. Let’s walk through this market recap.
Crypto Market Overview
- Bitcoin (BTC): BTC rose nearly 2% following confirmed U.S.-China trade talks. U.S. Spot BTC ETFs saw inflows of $424.5 million, led by BlackRock’s IBIT ($530.2 million), though five other funds faced net outflows.
- Ethereum (ETH): The Pectra upgrade was deployed today, focusing on scalability, staking, security, and user experience.
Top Events
- FOMC Meeting: The Federal Open Market Committee’s interest rate decisions could impact market liquidity and sentiment.
- U.S.-China Trade Talks: Confirmation of trade negotiations boosted BTC, while gold dipped to $3,400.
- Tether USDT Minting: Tether minted 1 billion USDT on Tron (May 6), boosting market liquidity.
- Pectra Upgrade: Ethereum’s largest update since The Merge, potentially affecting ETH and related meme coin liquidity in the short term.
See more at Ethereum Prepares for Pectra Upgrade: Will ETH Hit $2,000?
Market Recap – Meme Coin Market Highlights
Meme coins continued to attract capital, particularly on BNB and Solana. Platforms like Bonkdotfun and Boopdotfun are fostering new meme coins with low fees and airdrops. However, macroeconomic factors (FOMC, Pectra) may cause short-term volatility.
Check out MevX Pioneers boopdotfun Integration for Next Level
Meme Coin Trendings
- $SNS: Solana Name Service launches $SNS token, airdrops 40% to .sol holders, boosting Solana identity.
- $BWAH: Bitcoin Wizard Apple Hurler ($BWAH) gets pumped to $2.97M after dev’s rug.
- $GORK: Elon Musk supports New XAI Gork ($GORK) meme coin on Solana, inspired by xAI’s Grok.
- $PARTYHATS: phat ($PARTYHATS) surges 420% with RuneScape’s Iconic party hat narrative.
Notable Coin Updates
- $BNB: Standard Chartered predicts a 360% rise to $2,775 by 2028, reflecting optimism for the broader crypto market.
- $SOL: SOL Strategies and DeFi Development Corp acquired 204,928 SOL ($29.3 million) for reserves, signaling confidence in Solana’s ecosystem.
- $NOT: The Notcoin team stated that the “Tap to Earn” model is outdated, urging Web3 games to focus on fun experiences over token rewards.
- $WLD: Kenya’s High Court ordered World Foundation to delete all biometric data of Kenyan users within 7 days, pressuring WLD.
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