Markets don’t apologize for volatility.
Bitcoin just took a swift journey from $106K to $102K due to the May 13 CPI print, shaking out the weak hands along the way.
Yet beneath the surface, the bullish sentiment remains intact.
What we’re seeing isn’t panic – it’s just the market doing what markets do: recalibrating in real-time to new information.
The analysts calling this a “minor correction” are reading the room correctly.
With institutional capital continuing to flow and broader economic signals remaining favorable, this pullback looks more like a healthy pit stop than a change in direction.
But again, first CMC Launch.
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Get ready for the official CMC Launch!
So what’s actually going on in crypto today? Let’s make sense of it all! Here’s a quick rundown of the top headlines:
- Truth Social officially debunked rumors about launching a meme coin, calling the reports “FAKE NEWS.” So there will be no new token launches in the TRUMP ecosystem?
- Strategy scooped up another 13,390 BTC for $1.34 billion at an average price of $99,856 per coin. Why is Saylor still buying at these prices?
- BlackRock filed with the SEC to allow in-kind redemptions for its Ethereum ETF, letting institutions receive actual ETH instead of cash. Wouldn’t that just make the investment complicated for the TradFi investors opting for ETFs instead of crypto tokens?
- XRP briefly overtook Tether on May 12, becoming the third-largest cryptocurrency by market cap. What pumped XRP’s mcap so high?
- TRUMP token team appears to be developing “Trump Points” – an NFT marketplace with an integrated loyalty program. Could this boost TRUMP’s token value?
Let’s dive in after the market overview!
Truth Social Denies Meme Coin Rumors
Donald Trump’s Truth Social platform has officially denied rumors about launching its own meme coin.
The platform posted a “FAKE NEWS ALERT” on its official account, directly contradicting claims made by Africa’s TV host Ran Neuner, who had suggested a token launch within 72 hours.
So there will be no new token launches in the TRUMP ecosystem? Read the full story!
Strategy Buys Bitcoin Again
Strategy purchased 13,390 BTC for $1.34 billion at an average price of $99,856 per coin, expanding their total holdings to 568,840 Bitcoin worth over $59 billion.
The company funded this massive acquisition by raising $1.31 billion through common stock sales and STRK preferred shares issuance between May 5 and May 11.
Why is Saylor still buying at these prices? Read the full story!
BlackRock Files For ETH Direct Redemptions
BlackRock has filed with the SEC to allow in-kind redemptions for its Ethereum ETF (ETHA), enabling institutional investors to receive actual ETH tokens rather than cash when selling shares.
This technical change creates significant tax advantages and improves market efficiency for large investors, potentially increasing institutional demand for the ETF.
Wouldn’t that just make the investment complicated for the TradFi investors opting for ETFs instead of crypto tokens? Read the full story!
XRP Briefly Overtook Tether Becoming the Third Largest Cryptocurrency
XRP briefly overtook Tether on May 12 becoming the third-largest cryptocurrency by mcap (for a short period), with its market capitalization exceeding $154 billion.
The token is currently trading at $2.53, with its mcap sitting at $148.4 billion
What pumped XRP’s mcap so high? Read the full story!
TRUMP Plans NFT Marketplace
Leaked website information suggests the TRUMP token team is developing “Trump Points” – an NFT marketplace integrating cryptocurrency with a loyalty program.
Users will earn points through trading activity and completing platform tasks, with TRUMP token holders potentially receiving accelerated point accrual.
Could this boost TRUMP’s token value? Read the full story!