Weekly Crypto Market Wrap May 5-11, 2025
Are we on the brink of altseason? Ethereum surged 35% this week, Bitcoin is pushing toward a new ATH, and BTC dominance has started to dip — a classic sign that altcoins might be gearing up to take center stage. Many mid-cap tokens posted explosive gains, sentiment is sky-high, and all signs point toward a full-fledged altseason just around the corner. Let’s unpack what made headlines in this bullish week:
New Hampshire Becomes First U.S. State to Hold Bitcoin Reserves. Governor Kelly Ayotte officially signed a bill making BTC a reserve asset for the state — marking the first time a U.S. state integrates Bitcoin into public finances. A major milestone for crypto adoption.
Ethereum’s Pectra Upgrade Goes Live. Ethereum successfully launched the Pectra upgrade on mainnet, aiming to improve network efficiency, enhance smart contract performance, reduce node strain, and increase throughput.
Arizona Bans Crypto for Unclaimed Asset Reserves. Arizona Governor signed HB 2749, allowing the state to move unclaimed assets to reserve — but explicitly banning investment of those funds into cryptocurrencies, highlighting the state’s cautious stance.
Ripple Linked to Trump Crypto Reserve Post via Lobbyist. A Politico investigation revealed a Trump social media post about including XRP, SOL, and ADA in the U.S. crypto reserve may have been orchestrated by Brian Ballard’s lobbying group on behalf of Ripple. The revelation sparked debate over the political motivations behind crypto reserve proposals and the growing influence of lobbying in crypto policy.
Strategy Adds Another $180M in Bitcoin. MicroStrategy-style firm Strategy continues its BTC accumulation, adding 1,895 BTC worth $180 million. Their total holdings now stand at 555,450 BTC, solidifying their status as one of the largest institutional Bitcoin holders.
Bhutan Launches National Crypto Payment System for Tourists. The Kingdom of Bhutan unveiled a new crypto infrastructure called “One Wallet, One Journey”, allowing tourists to pay for local services using cryptocurrencies. The move positions Bhutan as a forward-thinking destination embracing digital payments.
Two Dormant Bitcoin Whales Move $322M After 11 Years. Two long-silent Bitcoin wallets sprang to life after nearly 12 years, transferring 2,343 BTC and 1,078 BTC respectively — totaling about $322 million. The crypto community is speculating on the identity behind these ancient wallets.
U.S. and China Resume Trade Talks. The U.S. and China held initial talks on tariffs — a positive step toward easing trade tensions that could have broader economic implications.
U.S.–UK Finalize Tariff Reduction Deal. The U.S. and U.K. signed a trade deal reducing tariffs on select goods — a move that may help boost transatlantic trade and economic cooperation.
Fed Keeps Interest Rates at 4.25–4.50%. As expected, the Federal Reserve held interest rates steady, and markets reacted neutrally.
China to Inject $291B in Liquidity to Boost the Economy. China announced plans to add $291 billion in liquidity through interest rate reductions in an effort to stimulate growth — potentially bullish for risk-on markets, including crypto.
Ripple and SEC Reach $50M Settlement. Ripple has reached a new agreement with the SEC, reducing its fine from $125 million to $50 million. The resolution could strengthen Ripple’s market position and ease regulatory pressure.
Missouri Becomes First U.S. State to Abolish Crypto Capital Gains Tax. Missouri has officially eliminated capital gains tax on crypto profits, a groundbreaking move that makes the state a haven for digital asset investors.
U.S. Senate Investigates Trump-Linked Crypto Projects. The U.S. Senate has launched an investigation into crypto initiatives linked to Donald Trump, including the TRUMP token. The probe raises fresh concerns about the intersection of crypto and politics.
Upcoming major token unlocks:
WBT: $1.19B (27.4%)
CHEEL: $112.39M
CONX: $94.30M (375.8%)
FTN: $87.40M (4.7%)
APT: $68.08M (1.8%)
ARB: $42.34M (1.9%)
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
