The global crypto market capitalization reached $2.69 trillion on May 4, up 0.5% in 24 hours, with trading volume of $58.88 billion. Bitcoin (BTC) traded at $78,789, up 0.74%, with a market cap of $1.57 trillion. Ethereum (ETH) stood at $2,330, up 1.21%, market cap $281 billion. BTC dominance remained strong at 58.4%, while ETH held 10.4%.
Top Gainers: LAB, BUILDOn, SKYAI Lead
LAB soared to $2.50, up 56.94% in 24 hours, with trading volume of $562.45 million. BUILDOn (B) rose 38.56% to $0.4569, volume $160.45 million. SKYAI climbed 28.78% to $0.5957, volume $180.76 million. Zcash (ZEC) added 10.15% to $422.33, volume $800.09 million. On the downside, Terra Classic (LUNC) fell 8.29% to $0.00008595, Midnight (NIGHT) dropped 5.54%, and Arbitrum (ARB) declined 3.17%.
Fear Index Drops to 40, Market Mood Turns Cautious
The Crypto Fear & Greed Index fell to 40 (Fear) from 47 yesterday and last week, compared to 11 (Extreme Fear) last month. The decline reflects cautious sentiment driven by recent price volatility, reduced risk appetite, and uncertain macro conditions. Stablecoin market cap stayed at $316.8 billion with $47 billion in volume. The DeFi market cap was $54.67 billion, down 0.5%, accounting for 2% of the global market.
MicroStrategy Pauses BTC Buying, Holdings Unchanged at 818,334 BTC
Michael Saylor, chairman of Strategy, confirmed no Bitcoin purchases between April 27 and May 3, ending a streak of recent accumulations. Total holdings remain at 818,334 BTC.
Institutional Moves: BlackRock European ETP Tops $1.1B, Squads Raises $18M
BlackRock's European iShares Bitcoin ETP surpassed $1.1 billion in assets under management, holding 14,200 BTC, since its March 2025 launch. Solana-focused Squads secured $18 million in funding led by Solana Ventures; its Altitude platform has processed over $200 million in global stablecoin payments.
Security & Regulation: ZachXBT Flags PolyArb Scam, Coinbase Urges CFTC Action
Blockchain investigator ZachXBT warned that PolyArb is a fake prediction market with a wallet drainer. Decentralized exchange Bisq lost 11 BTC in a vulnerability exploit and is conducting a DAO vote on compensation. Coinbase urged the CFTC to regulate prediction markets, opposing fragmented state-level approaches. NYSE filed a proposal to trade tokenized securities under existing systems, supporting blockchain settlement, pending regulatory review within 60 days.
Other News in Brief
Peter Thiel's Founders Fund raised $6 billion, with $4.5 billion from external investors, targeting late-stage tech investments. Uphold agreed to pay over $5 million to settle claims about misleading users on CredEarn risks. South Korea's KB Financial partnered with Pantera Capital to explore blockchain strategies. Wasabi Protocol resumed withdrawals for safe vaults after a $5.5 million exploit, warning users to avoid compromised positions.