The crypto market saw mild recovery on May 7, with total capitalization rising to $2.71 trillion, up 0.2% in 24 hours, and volume at $114.59 billion. Bitcoin held steady above $81K, trading at $81,054 (up 0.04%), maintaining a dominance of 58.6%. Ethereum slipped 1.67% to $2,324.
Fear & Greed Turns Neutral as Sentiment Improves
Alternative.me's Fear & Greed Index rose to 47 (Neutral), from 46 (Fear) yesterday, 29 last week, and 11 last month (Extreme Fear). The increase reflects improving sentiment, lower volatility, and cautious buying after fear-driven selloffs, signaling stabilization.
Top gainers included Venice Token (VVV) surging 23.34% to $12.50, Toncoin (TON) up 21.53% to $2.44, and NEAR Protocol (NEAR) up 15.15% to $1.49. Losers: Terra Classic (LUNC) fell 23.33%, Pudgy Penguins (PENGU) lost 4.92%, Dogecoin (DOGE) declined 2.54%.
Germany Considers Ending One-Year BTC Tax Exemption
Germany may revoke Bitcoin's one-year tax exemption, taxing crypto like stocks. The change could face constitutional challenges on equal protection grounds, similar to Austria's earlier policy shift.
Kraken Launches Regulated Spot Margin Trading for US Users
Kraken introduced regulated spot margin trading for US traders, offering up to 10x leverage on 48+ cryptocurrencies. The product never expires or rolls over and is available 24/7 on Kraken Pro.
Arbitrum DAO Votes to Unfreeze ETH on rsETH Chain
Over 190M ARB tokens voted, with 1,600+ addresses participating. The proposal reached quorum, moving forward with recovery efforts for the April 18 incident.
OKX Partners with Ondo Finance for 263 Tokenized US Stocks
OKX teamed up with Ondo Finance to offer 263 tokenized US stocks including Apple and Tesla. Users can trade on-chain directly, with new pre-IPO exposure plans and perpetual contracts.
Bittrex Seeks to Overturn 2023 SEC Settlement
Bittrex is attempting to overturn its 2023 SEC settlement and $24M penalty, citing the changing regulatory landscape. The exchange argues recent SEC case dismissals undermine the securities classification logic.
White House Pushes Digital Asset Market Clarity Act by July 4
The White House wants the Digital Asset Market Clarity Act passed before July 4. Congress is reviewing stablecoin laws, and the executive branch is coordinating Bitcoin reserve audits.
Bitcoin Corp US Reports $82M Q1 Loss, Adds 1,600 BTC
Bitcoin Corp US posted an $82M loss in Q1 with revenue declines due to reduced mining returns. Despite losses, the company added 1,600 BTC to its inventory, though its stock has fallen nearly 90% since listing.
Grayscale Rebalances DeFi and Smart Contract Funds
Grayscale rebalanced its DeFi Fund (added ENA, removed AERO) and Smart Contract Fund. Major holdings include UNI, AAVE, ETH, SOL, ADA, and others.
WLFI Token Proposal Passes with 99.9% Approval
WLFI token proposal passed with 99.9% approval. Tokens will follow multi-year structured unlocks or burns, with founders and early supporters facing up to five-year vesting schedules.
Ondo, JPMorgan, Mastercard, Ripple Complete Tokenized Treasury Redemption Test
The instant tokenized US Treasury redemption test processed on XRP Ledger in 5 seconds, with cross-border fiat settlement completed via JPMorgan's banking network.