Key Takeaways
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Macro Environment: U.S. stocks opened higher but closed lower on Friday, ending the week in negative territory. Over the weekend, positive developments emerged as high-level U.S.-China trade talks achieved substantive progress and reached key consensus. Geopolitical tensions eased, avoiding further escalation. U.S. stock futures rose 1% following the news of progress in negotiations.
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Crypto Market: Bitcoin fluctuated within the $103,000–105,000 range, while the ETH/BTC ratio surged 25% this week, returning to May 2020 levels. Bitcoin dominance (BTC.D) ended its nine-week uptrend, declining 2.5% week-over-week as capital rotated toward higher-risk altcoins. Meme coins gained significant traction over the weekend, with PNUT, MOODENG, GOAT, NEIRO, and others seeing sharp price and trading volume increases.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,659.90 | -0.07% |
| NASDAQ | 17,928.92 | -0.08% |
| BTC | 103,339.20 | -0.68% |
| ETH | 2,514.69 | -2.68% |
Crypto Fear & Greed Index: 70 (70, 24 hours ago), level: Greed
Macro Economy
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U.S. Treasury Secretary: "Substantive progress" made in trade talks with China.
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India proposed cutting tariff differentials by two-thirds to secure a trade deal with Trump.
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Trump: "Many trade agreements are in the works."
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Fed’s Bostic: "Adjusting policy now is unwise."
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Pakistan & India agreed to an immediate ceasefire, per Pakistan’s foreign minister.
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Ukrainian President expressed willingness to negotiate.
Industry Highlights
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BlackRock updated its Ethereum ETF filing, adding "in-kind creation/redemption" and quantum computing risk disclosures.
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U.S. VP Vance will speak at Bitcoin 2025 Conference.
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Michael Saylor released Bitcoin Tracker data, hinting at potential new BTC accumulation.
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USDT market cap surpassed $150B, hitting a new all-time high.
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SEC Chair to deliver a tokenization keynote on May 12.
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Eight major crypto firms announced U.S. market entries in 2025.
Project Highlights
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Hot Tokens: GOAT, PNUT, MOODENG
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Meme coins (MOODENG, GOAT, PNUT, NEIRO, CHILLGUY) rallied over the weekend. Binance Alpha’s listings of MOODENG & GOAT further boosted momentum.
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TRUMP: Snapshot for Trump dinner ends May 12; Trump to announce next-phase plans for TRUMP token at the event.
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PENGU: Upbit listed PENGU/KRW, PENGU/BTC, PENGU/USDT pairs.
Weekly Outlook
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May 12: Continued U.S.-China talks; U.S. federal budget balance. SEC Chair Paul Atkins on tokenization; TRUMP snapshot concludes. Aptos (APT) unlocks 11.3M tokens (~$60.9M).
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May 13: U.S. April unadjusted CPI data.
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May 14: Consensus Toronto 2025 begins.
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May 15: Fed’s Thomas Laubach Research Conference (Powell speech). Sei (SEI) unlocks 220M tokens (~47.3M);Starknet(STRK) unlocks160M tokens (~47.3M).
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May 16: U.S. May 1-year inflation expectations and Michigan Consumer Sentiment Index. Immutable (IMX) unlocks 24.5M tokens (~$14M).
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