Headlines
Ethereum network gas fee drops to 2 gwei
Etherscan data shows that the Ethereum network gas fee has dropped to as low as 2 gwei today and is currently reported at 4 gwei.
Solana on-chain DEX's transaction volume yesterday exceeded the sum of Ethereum, BSC, Arbitrum and other 5 chains
DefiLlama data shows that the transaction volume of Solana's on-chain DEX on May 11 increased by more than three times from the previous day to US$2.995 billion, ranking first; exceeding the sum of the transaction volumes of five on-chain DEXs including Ethereum, BSC, Arbitrum, Base, and Optimism.
CME Fed Watch: The probability of the Fed keeping interest rates unchanged in June is 96.5%
According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in June is 96.5%, and the probability of a 25 basis point rate cut is 3.5%. The probability of the Fed keeping interest rates unchanged by August is 74.6%, the probability of a cumulative 25 basis point rate cut is 24.6%, and the probability of a cumulative 50 basis point rate cut is 0.8%.
Solana’s on-chain DEX ranked first with a weekly trading volume of over US$9.5 billion, a 7-day increase of 26.26%.
DeFiLlama data shows that the transaction volume of Solana chain DEX in the past 7 days was 9.533 billion US dollars, ranking first, with a 7-day increase of 26.26%. The transaction volume of Ethereum chain DEX in the past 7 days was 9.325 billion US dollars, a 7-day decrease of 28.12%. The transaction volume of BSC chain DEX in the past 7 days was 4.329 billion US dollars, a 7-day increase of 6.67%. The transaction volume of Arbitrum chain DEX in the past 7 days was 2.838 billion US dollars, a 7-day decrease of 27.19%. The transaction volume of Base chain DEX in the past 7 days was 1.608 billion US dollars, a 7-day decrease of 33.55%.
Industry News
Bitcoin volatility is lower than Tesla and Nvidia stocks, and the future price may exceed $100,000
As of May 11, Bitcoin's annual volatility was about 44.88%, which has fallen below well-known technology stocks such as Tesla, Meta and Nvidia (whose annual volatility is over 50%), marking its gradual transformation into a more mature and stable asset class. According to a report by Fidelity Investments, Bitcoin's volatility has been lower than 33 of the approximately 500 companies in the S&P 500 index, showing its stability. In addition, Bitcoin's declining volatility indicates a shift in investor sentiment toward 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. Institutional investors usually have strict risk management regulations, and low-volatility asset classes are more in line with their investment strategies. Independent market analyst Scott Melker said: "It's important to remember that this will take time; these companies are just beginning their due diligence... A large influx of institutional money will drive Bitcoin prices to all-time highs." Melker expects that due to the expected ETF inflows, Bitcoin prices are expected to rise to the $100,000 to $150,000 range in the future. (Cointelegraph)
Philippine central bank approves peso-pegged stablecoin PHPC
The Central Bank of the Philippines approved the Philippine Peso-pegged stablecoin PHPC, which aims to facilitate cost-effective remittances. PHPC is backed by cash and equivalents from Philippine banks and will initially be launched on the Coins.ph platform with plans to expand to other platforms. PHPC will be a peso-backed stablecoin for retail use, offering real-time transactions around the clock. (Bitcoin.com)
Project News
LayerZero co-founder: At least 30,000 people have "exposed themselves" as witches
LayerZero co-founder and CEO Bryan Pellegrino responded to a community user in the official Telegram channel about how many people have admitted to being witches. He replied: "Last time I checked, there were 30,000 people. It should be more now."
BounceBit mainnet will be launched tomorrow
BounceBit posted on social media that the mainnet will be launched tomorrow. Earlier news said that the BounceBit points snapshot has been completed and the settlement phase will be carried out on the BounceBit mainnet.
Character*Voice
PayPal's former president: All companies will eventually use Bitcoin Lightning Network to settle transactions
David Marcus, former PayPal president and current Lightspark CEO, said that every company in the world will eventually use the Bitcoin Lightning Network to settle transactions. (Bitcoin Magazine)
Survey: Some people see Nvidia and other technology stocks as inflation hedging tools comparable to gold
According to the latest Bloomberg Markets Live Pulse survey, some respondents said that the largest U.S. technology stocks are not only a bet on innovative industries, but also a possible hedge against inflation. 46% of respondents said that gold, which has been a safe haven for decades, is still seen as the best protection against the risk of rising prices. But nearly a third said that technology giants (stocks) are their first choice. The reaction highlights the dominant role that companies such as Nvidia, Amazon and Meta play in U.S. financial markets as they expand their influence on major areas of the U.S. economy. This allows them to generate stable profits, trigger rebounds, and convince investors that they will continue to be a source of stable income. (Bloomberg)
Investment and Financing
AI-integrated DeFi platform 0x Gen completes strategic financing
Multi-chain staking platform StakedGain announced the completion of a $500,000 seed round of financing, and the investor information has not been disclosed. StakeGain currently supports more than 10 blockchains, including EVM-compatible chains and Layer 2 solutions, to help users achieve cross-chain DeFi staking and improve liquidity efficiency. (Accesswire)
