The crypto market soared past $3.27 trillion as Bitcoin reclaimed $100,000, Ether jumped 26% after the Pectra upgrade and Trump’s UK trade deal fueled bullish sentiment. The cryptocurrency market continued to surge this past week as the overall digital asset market capitalization exceeded $3.27 trillion, an 8.6% increase over the previous week. Bitcoin (BTC) reached a high of $103,600 on May 8 after reclaiming $100,000 for the first time since January. Its market dominance also surged above 60%, reflecting more bullish BTC sentiment. This marked the third time BTC has broken through six figures since it reached the milestone on Dec. 5, 2024, and again on Jan. 20, ahead of US President Donald Trump’s inauguration. The BTC rise coincided with Trump announcing a trade deal with the United Kingdom, which may include removing a 10% blanket tariff on all imports. Read more
Incorporating Galaxy Digital in the US state of Delaware is a key step toward obtaining a listing on the US-based Nasdaq stock exchange. Galaxy Digital has been approved by the US Securities and Exchange Commission (SEC) to redomicile in the United States, setting the stage for the crypto investment company’s listing on the Nasdaq stock exchange. Galaxy anticipates listing on the Nasdaq, a tech-focused US stock exchange, by the middle of May, pending approval from the Toronto Stock Exchange, on which the company is already listed, and shareholder approval at a special shareholders meeting on May 9. Shareholders at the meeting must approve redomiciling Galaxy Digital in the US state of Delaware, known for its business-friendly regulations, before the process can move forward, according to an announcement from the company. Read more
Bitcoin's positive performance in diverse market conditions, strong risk-adjusted returns, and institutional buying pressure could push it past $110,000 in May. Key Takeaways: Bitcoin is driven by its ability to perform well in risk-on and risk-off environments, according to Bitcoin Suisse. Bitcoin’s Sharpe ratio of 1.72, second only to gold, underscores its maturity as an asset, offering superior risk-adjusted returns. Read more