Friday Forecasts
Your weekly intelligence wrap from the decentralized frontier
Market Pulse
Coinbase to become the first crypto firm to join the S&P 500
Crypto exchange Coinbase Global (COIN) is set to join the Standard and Poor’s 500 (S&P 500) on May 19, becoming the first and currently only crypto firm to make it into the index.
The crypto exchange will replace Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp (COF), S&P Global said on May 12.
Ethereum Weekly Price Spike Hits 50% as Bitcoin, Solana and Dogecoin Gain
Ethereum jumped more than 8% over the past 24 hours, accelerating its momentum on Tuesday after an encouraging inflation report and amid other upbeat signs that have rekindled investor appetites for crypto and other risk-on assets.
The second-largest cryptocurrency by market capitalization cracked $2,700 at one point during the late afternoon Eastern Time before retreating slightly below that threshold. Even so, the coin is up a whopping 51% during the past seven days, according to crypto markets data provider CoinGecko.
Week in AI: AI Tokens Skyrocket Following U.S.-China Tariff Agreement
The cryptocurrency market is back with a vengeance. Bitcoin (BTC) is back trading above $104K, Ethereum (ETH) broke out of what looked like a death spiral to zero, and many altcoins have seen serious price growth with skyrocketing trading volume.
Bitcoin’s market dominance fell by 2.2% to reach 61.6% this week as altcoins gained relative strength following news that tariffs between the U.S. and China will be slashed for 90 days. In response, futures for major U.S. stock indices jumped today.
Narratives to Watch
Can Strategy Become a Trillion‑Dollar Unicorn as Bitcoin Price Blasts Past $103K?
The overnight Bitcoin price surge back into six‑figure territory has sent shockwaves through every corner of the crypto economy. The flagship asset ripped to an intraday high of $103,400—its first decisive close above $100K since February—propelled by a flood of fresh spot‑ETF inflows ($142 million) and optimism that U.S.–China trade talks are finally thawing.
Strategy’s Bitcoin Stashoard Swells Past $57 Billion
No public company felt the blast‑off more than Strategy Inc. (the rebranded enterprise analytics firm formerly known as MicroStrategy). A May 4 regulatory filing shows the company now controls 555,450 BTC after snapping up another 1,895 coins for $180 million at an average $95,167. Marked to this morning’s $103K tape, the trove is worth roughly $57.2 billion, handing Strategy an unrealized gain of about $19 billion on its $38 billion cost basis.
Trump-affiliated mining firm American Bitcoin to go public via merger with Gryphon Digital
American Bitcoin, a subsidiary of Bitcoin miner Hut 8 Corp. and Trump-led data firm American Data Centers, intends to go public through a definitive merger agreement with Gryphon Digital Mining, Inc. The stock-for-stock transaction is expected to close as early as the third quarter of 2025, pending shareholder and regulatory approvals, according to a Monday press release.
The merger structure will see American Bitcoin shareholders owning approximately 98% of the combined company, with Gryphon shareholders holding the remaining 2%. Also, the entity is expected to operate under the American Bitcoin brand and trade on Nasdaq under the ticker symbol ABTC.
️Protocol Watch
Robinhood to buy WonderFi for $250 million CAD as US trading platform targets Canadian expansion
After spending years gobbling up other Canadian cryptocurrency companies, Toronto-based WonderFi has agreed to be acquired by American trading platform Robinhood Markets.
Nasdaq-listed Robinhood has struck a deal to buy all issued and outstanding common shares of WonderFi for $0.36 CAD apiece in cash, a 41 percent premium relative to the closing price of WonderFi’s common shares on the Toronto Stock Exchange (TSX) yesterday. This represents a total equity value of approximately $250 million CAD on a fully diluted, in-the-money basis.
DeFi Development Soars 20% as Solana Holdings Top $100M With Latest
DeFi Development (DFDV), the Nasdaq-listed real estate tech firm formerly known as Janover, bought more of Solana’s SOL SOL, taking its total crypto holdings above $100 million, the company announced on Monday.
The firm said it acquired 172,670 SOL at an average price of $136.81. The $23.6 million purchase is the largest since its crypto pivot last month. The Florida-based company now holds 595,988 SOL, worth nearly $105 million at current prices.
SOL Strategies and DigitalX Unlock Institutional Solana Staking with BitGo
SOL Strategies, a Canadian public company focused on Solana blockchain infrastructure, announced a partnership with Australian blockchain firm DigitalX on May 12 to funnel institutional stakes into BitGo’s custody, turning passive tokens into a regulated yield machine.
This collaboration seeks to combine SOL Strategies’ performance-focused validator network with BitGo’s institutional-grade security and custodial services, providing a secure and high-yield staking infrastructure for large-scale investors.
Regulatory Radar
Regulators and Industry Leaders Meet Today to Discuss Tokenization’s Role in Asset Management
Regulators and industry leaders are gathering today to explore the transformative potential of tokenization in asset management. This landmark event brings together top figures from the world of traditional finance and blockchain, united by a shared vision of creating more efficient, transparent markets for the digital age.
Keynote Speeches and Industry Perspectives
At the helm of today’s discussions is SEC Chairman Paul Atkins, whose highly anticipated keynote speech promises to set a forward-thinking tone for the event. Drawing on his extensive background in both regulated financial systems and emerging blockchain technologies, Atkins will outline how tokenization can bridge the gap between conventional asset management and the dynamic realm of decentralized finance.
Dubai government to accept crypto payments through Crypto.com partnership
Dubai’s Department of Finance announced a partnership with crypto platform Crypto.com that will allow government service fees to be paid with large-cap cryptocurrencies.
The memorandum of understanding between Dubai government officials and Mohammed Al Hakim, president of Crypto.com UAE, was signed Monday on the sidelines of the Dubai FinTech Summit.
Moonrig Perspective
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