Welcome to the US Cryptocurrency Morning Briefing. Here's a brief summary of today's key cryptocurrency developments.
While enjoying coffee, we discuss how stablecoins' growth impacts Bitcoin (BTC) price. The spread of these dollar-pegged tokens highlights cryptocurrency adoption, but according to Bitcoin pioneer Max Keiser, not everything is as it seems.
Max Keiser: "Stablecoins Will Push BTC Price Over $200,000"
The cryptocurrency market continues to see increasing institutional adoption, with digital asset investment products experiencing inflows of $2 billion last week.
The Trump family's World Liberty Financial (WLFI) is gaining attention in the stablecoin sector. Their USD1 stablecoin recently broke through a $2 billion market capitalization.
In the same context, Tether, despite being the issuer of USDT, the largest stablecoin by market capitalization, is considering another dollar-pegged stablecoin.
With increasing interest from traditional economic sectors, the US Treasury predicts the stablecoin sector will reach a $2 trillion market capitalization by 2028.
[The rest of the translation follows the same careful approach, maintaining the original structure and translating all non-technical text while preserving specific terms and HTML tags.]- Market records $2 billion crypto inflows despite Trump tariffs, continuing a 3-week upward trend with a total of $5.5 billion over these 3 weeks.
- Tether launches Tether.ai. This is an open-source AI platform combining blockchain technology, supporting the deployment of decentralized AI agents.
- Bitcoin dominance reaches 64.98% in early May, recording its highest level since 2021. This sparks debate about the timing of the next altcoin season.
- Elon Musk changed his X name to "gorklon rust", triggering a meme coin rally, with token surges reaching up to 7000% within 24 hours.
- Solana fixed a critical bug in the Token-2022 standard. This bug allowed unauthorized token issuance and asset withdrawal.
- Five US economic indicators that could impact cryptocurrency this week include ISM services, US trade deficit, FOMC meeting and Powell conference, and consumer credit.
- Indonesia suspended Worldcoin and WorldID. This is due to unregistered operations and abuse of legal certification by another company.
- Bitcoin price drops below $95,000, with potential to fall to $90,000, triggered by increasing bearish trends.
Cryptocurrency Stock Market Overview
| Company | Closed on May 2nd | Market Overview |
| Strategy (MSTR) | $394.37 | $384.40 (-2.53%) |
| Coinbase Global (COIN) | $204.93 | $201.20 (-1.82%) |
| Galaxy Digital Holdings (GLXY.TO) | $26.84 | $29.95 (+11.60%) |
| MARA Holdings (MARA) | $14.48 | $14.11 (-2.56%) |
| Riot Platforms (RIOT) | $8.39 | $8.24 (-1.79%) |
| Core Scientific (CORZ) | $8.74 | $8.61 (-1.49%) |
