According to DexScreener data, the trading price of friend.tech tokens has fallen below $3 and is currently at $2.31. The current circulating supply is approximately 14.5 million. According to DeFiLlama data, the friend.tech ecosystem's TVL has dropped to the $30 million range, with a 13.6% decline over the past 7 days. Friend.tech was launched on the Ethereum Layer 2 network Base in August of last year. The ecosystem's TVL had once surpassed $50 million and is currently the 9th largest protocol on the Base chain.
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The first batch of six virtual asset spot ETFs launched by CSOP Asset Management, Huatai Fund (Hong Kong), and Bosera International were officially listed and traded on the Hong Kong Stock Exchange. Panda Securities has reached a cooperation agreement with CSOP Asset Management, Huatai Fund (Hong Kong), and Bosera International to participate as a broker and open up product subscription channels for investors. Panda Securities is working closely with North Ray Finance to assist with physical purchases.
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According to DL News, Bloomberg ETF analyst Eric Balchunas pointed out that due to lack of meaningful interaction with potential issuers and the uncertainty of Ethereum's regulatory status, the US Securities and Exchange Commission (SEC) may reject the application for Ethereum spot ETF on May 23. Balchunas further predicted that it may take until the end of 2025 for Ethereum spot ETF to be realized. In addition, he also mentioned the potential impact of the 2024 US presidential election, pointing out that if former President Trump wins a second term, the SEC may undergo leadership changes, and the new president may adopt a more crypto-friendly policy than current SEC chairman Gary Gensler.
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Lookonchain monitoring data on May 6th shows that Grayscale GBTC increased holdings of 979 bitcoins, worth about $62.14 million, with a total of 292,218 BTC held, worth about $18.55 billion. Fidelity increased holdings of 1574 bitcoins, worth about $99.92 million, with a total of 152,815 BTC held, worth about $9.7 billion. Nine bitcoin ETFs increased their holdings by a total of 4412 bitcoins, worth about $280 million.
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According to Coinglass data, the current balance of Bitcoin wallet on Binance is 541,275.47 coins, ranking first in CEX; there were 1293.13 coins inflow in the past 24 hours, 327.61 coins inflow in the past 7 days, and 4266.43 coins outflow in the past 30 days. In addition, the balance of Bitcoin wallet on CoinbasePro is 282,595.55 coins, with 321.92 coins outflow in the past 24 hours, 1223.42 coins inflow in the past 7 days, and 28524.47 coins outflow in the past 30 days. The balance of Bitcoin wallet on Kraken is 76,732.73 coins, with 1471.24 coins outflow in the past 24 hours, 996.70 coins outflow in the past 7 days, and 1462.80 coins outflow in the past 30 days.
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On May 12th, according to official data, the total amount of ETH collateral on the Lido liquidity collateral platform is 9,365,480 ETH, equivalent to approximately $27,425,404,621. In addition, as of now, Lido has paid out 516,716 ETH in collateral rewards, equivalent to approximately $BTC #SEC上诉

#ETHETFS #SEC上诉 #ETH_Market_Update
Joe Lubin, co-founder of Ethereum and CEO of Consensys, made a statement about ETFs in an interview.
After months of anticipation, the Securities and Exchange Commission (SEC) appears ready to approve spot Ethereum exchange-traded funds (ETFs), setting the stage for a significant increase in demand for Ethereum (ETH) that could lead to a supply shortage.

Ethereum Co-Founder Predicts Supply Squeeze With Potential Approval of Ethereum ETFs
Joe Lubin, co-founder of Ethereum and CEO of Consensys, made a statement about ETFs in an interview.

Lubin explained that institutions investing in Bitcoin through recently launched ETFs are likely to diversify their holdings with Ethereum once spot Ethereum ETFs receive approval.

“There will be a fair amount of natural, pent-up pressure to buy Ethereum through ETFs,” he said. However, this demand may face a more limited supply compared to the Bitcoin ETFs approved earlier this year.

In January, when spot Bitcoin ETFs were approved, authorized participants — the firms responsible for purchasing Bitcoin on behalf of the ETFs — were able to easily purchase idle coins available on exchanges or through over-the-counter transactions.

However, the situation with Ethereum is different. On-chain data shows that more than 27% of the total Ethereum supply is currently staked on the Ethereum network, generating returns for holders and therefore kept out of direct circulation.

Related News The Big Day for the Cryptocurrency Market is Just 4 Days Away: Two Analysts Explain Their Views
“The bulk of Ethereum is used in the core protocol, DeFi systems, or DAOs,” Lubin said, referring to decentralized autonomous organizations.

This locked supply, combined with Ethereum's market dynamics, could make Ethereum's price more sensitive to expected inflows from ETFs.

Moreover, increased activity on the Ethereum network will trigger the burning of some of the existing Ethereum supply over time, further tightening the current supply. The deflation mechanism introduced by Ethereum's EIP-1559 upgrade contributes to scarcity by systematically reducing the supply of Ethereum in circulation.

The scenario for Ethereum ETFs could parallel or even exceed the supply pressures faced by Bitcoin ETFs.

Lubin emphasized the broader significance of this development, calling it a “profound turning point” for Ethereum and the cryptocurrency industry as a whole.

*This is not an investment recommendation.
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Bitcoin's price dropped significantly on Friday morning in the US, reversing its climb to $63,500. The disappointing US economic data and hawkish remarks from Dallas Fed President Lori Logan were cited as catalysts for the drop. The University of Michigan Consumer Sentiment Survey for May fell to 67.4, missing economist forecasts by a large margin, while one-year inflation expectations rose to 3.5%. This news caused the US dollar and bond yields to rise slightly, but had little effect on stocks. Bitcoin fell over 4% from its daily high to $60,700 before bouncing back slightly to $61,000 at press time.
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According to Bitcoin Magazine on the X platform, the latest data shows that the Bitcoin holdings of BlackRock's spot Bitcoin ETF IBIT have reached 273,596 BTC, worth approximately $18 billion, which is 59,350 BTC more than MicroStrategy's Bitcoin holdings.
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HODL15Capital reported that the net inflow of the US Bitcoin ETF was $60 million on April 19th.
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On April 25th, NFPrompt partnered with modular Bitcoin Layer 2 solution B²Network to launch B²Rollup. The official statement claims that this is the first Bitcoin Rollup based on verified commitments, and B²Hub is also the first Bitcoin DA layer to achieve final determinism on the Bitcoin network.
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According to ChainArgos monitoring, on May 3, Tether conducted a large-scale issuance and redemption activity. A total of 266 million USDT was issued that day, while 103 million USDT was redeemed.
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