The global crypto market cap held at $2.8 trillion on May 12, with a 0.1% dip in the last 24 hours and $89.2 billion in total trading volume. Bitcoin dominance remained strong at 58.2%, while Ethereum held 10%. Bitcoin traded at $81,012.96, down 0.44%; Ethereum at $2,308.64, down 2.02%.
Gitcoin Skyrockets 79%, BUILDon Up 55%
Gitcoin (GTC) surged 79.47% to $0.1828, volume $91.19M. BUILDon jumped 55.13% to $0.6206, volume $128.65M. Humanity (H) climbed 26.67%, Venice Token (VVV) rose 12.36%. Losers included SKYAI (-13%), Pump.fun (-5.5%), and Zcash (-5.27%).
Fear & Greed Index at 49, Stablecoin Market Cap Hits $318.3B
The Crypto Fear & Greed Index stood at 49 (neutral), up from 48 yesterday and well above last month’s 16 (extreme fear), reflecting reduced volatility and price stabilization. Stablecoins saw a 0.3% uptick, market cap $318.3B, volume $73.5B. DeFi cap fell 0.7% to $60B, global dominance 2.1%.
Regulatory & Industry: Consensys Seeks MetaMask Safe Harbor, Senate Advances Warsh
Consensys submitted a comment letter to the SEC asking for a safe harbor for self-custodial wallets like MetaMask, arguing broker-dealer rules are unsuitable. The US Senate voted 49–44 to advance Kevin Warsh’s Fed Board nomination. The Banking Committee is set to vote on the CLARITY Act, with Stand With Crypto pushing for clear digital asset rules.
FTX Unstaking SOL, Aave rsETH Update, Ord.io and Zap to Shut Down
FTX/Alameda unstaked 199,263 SOL (~$19.4M) as part of bankruptcy liquidation. Aave reported progress on the rsETH incident after court modifications allowed Arbitrum DAO voting and ETH transfers. Ord.io announced it will shut down on June 1 after three years and 1M+ users; its data tools will be open-sourced. Crypto wallet Zap also plans to close on June 1 due to slow growth, urging users to export private keys.
21Shares Launches THYP ETF, MARA Posts $1.3B Net Loss
21Shares US launched the THYP ETF tracking the Hyperliquid Index with potential staking exposure. MARA reported Q1 revenue of $174.6M but a $1.3B net loss due to Bitcoin fair value adjustments, while holding 35,303 BTC. Ronin confirmed migration to an Ethereum L2 on OP Stack, reducing inflation below 1% and ending its sidechain model after the 2022 bridge hack.