● Bitcoin volatility dropped to 44.88%, lower than technology stocks such as Tesla and Nvidia
According to Odaily Planet Daily, as of May 11, Bitcoin's annual volatility was about 44.88%, which has dropped to lower than well-known technology stocks such as Tesla, Meta and Nvidia (whose annual volatility exceeds 50%), marking its gradual transformation into a more mature and stable asset class. According to a report by Fidelity Investments, Bitcoin's volatility is lower than 33 of the approximately 500 companies in the S&P 500 index, showing its stability.
In addition, the decline in Bitcoin's volatility indicates that investor sentiment is shifting in a positive direction, which may trigger a sharp rise in prices. With the approval of multiple Bitcoin spot ETF products in the United States, it is expected that major institutional investors will join in the coming months. Robert Mitchnick, head of digital assets at BlackRock, pointed out that sovereign wealth funds, pension funds, and endowment funds may see Bitcoin spot ETF transactions in the coming months.
● Global Bitcoin spot ETFs hold over 949,000 BTC, and last week the US Bitcoin spot ETF increased its holdings by 1,318 BTC
According to Odaily Planet Daily, according to HODL15Capital monitoring, as of May 10, global Bitcoin spot ETFs held 949,756 BTC. In addition, last week, the US Bitcoin spot ETF purchased 1,318 BTC, of which only GBTC saw capital outflows.
● Runes Protocol activity drops sharply after generating $135 million in fees in first week
According to Wu, the Runes protocol generated $135 million in fees in its first week, but activity has dropped dramatically since then. Blockchain data shows that May 10 was the lowest day for Runes activity, with the lowest number of new coins minted and the lowest number of new wallets interacting with the protocol since launch. Only twice in the past twelve days has more than $1 million in fees been generated.
● Analyst: Ethereum spot ETF may not appear until the end of 2025
According to Odaily Planet Daily, Bloomberg ETF analyst Eric Balchunas said that due to the lack of meaningful interaction with potential issuers and the vague regulatory status of Ethereum, the US SEC may reject the application for Ethereum spot ETF on May 23, and such ETF may not appear until the end of 2025. Influencing factors include the US election. If former President Trump wins a second term in the White House, the SEC may face a change in leadership. The new chairman may be more friendly to cryptocurrencies than Gary Gensler. Balchunas further explained: "If there is a new president, you submit your application again, maybe you will be approved, or you will sue. In any case, it will take a full year to achieve."
● Ethereum starts to see inflation after Dencun upgrade, but scalability improves
According to Odaily Planet Daily, CryptoQuant data disclosed by crypto KOL Wazz on the X platform shows that ETH has begun to inflate in the past few weeks after the Dencun upgrade. However, the total number of transactions on the main network hit a new high, while the median transaction fee is close to a historical low. It seems that the two have separated from each other, which shows that Ethereum is much more scalable now.
● 82% of Ethereum ecosystem activities occur on Layer 2
According to Odaily Planet Daily, Haun Ventures partner Sam Rosenblum shared data on the X platform, indicating that 82% of the activities in the Ethereum ecosystem currently occur on Layer2 such as Arbitrum, Optimism, and Base.
● JPMorgan Chase plans to open its permissioned blockchain Onyx to allow third parties to deploy applications
According to Foresight News, JPMorgan Chase plans to open its permissioned blockchain Onyx to allow third parties to deploy applications and allow others to tokenize assets on the JPMorgan Chase blockchain. The blockchain-based account solution JPM Coin Systems team is focusing on building Onyx Digital Assets and working with third parties in this area.
