24H Hot Coins & Headlines｜Circle Achieved $42 Million in Revenue in Q1, Price Surged to $134; US President Trump to Pay State Visit to China (May 12)
- Core View: The crypto market shows structural divergence, with top coins experiencing mixed gains and losses, while small and mid-cap coins along with Meme coins remain active; industry fundamentals indicate Circle's non-interest income hit a record high, suggesting revenue diversification is underway, while macro events like Trump's visit to China and ongoing AI funding inject new momentum.
- Key Elements:
- Among trending coins on CEXs, OSMO (+68.43%) and RAD (+28.52%) led the gains; on-chain, Meme coins like TURBO performed remarkably, indicating capital is chasing high-risk, high-volatility assets.
- Circle's Q1 non-interest income reached $42 million, an all-time high, signaling reduced reliance on interest rates and successful commercialization of products like platform services; its stock price broke $134, with a market cap of $33.06 billion.
- On the macro front, US President Trump is invited to visit China in May, with reports suggesting Elon Musk may accompany him, immediately driving up Tesla's stock price - this event could indirectly impact expectations for blockchain policies between China and the US.
- FTX/Alameda unstaked 200,000 SOL (approximately $19.4 million), a move that may exert short-term supply pressure on Solana's secondary market and price.
- On the technology front, the Ethereum Foundation is advancing the "Glamsterdam" upgrade, with ePBS already running on the devnet, indicating continued progress on Ethereum's scalability and protocol mechanism reforms.
- In the intersection of AI and crypto, startup Ciridae secured a $20 million seed round led by Accel, with participation from a16z, showing sustained capital interest in combining decentralized technology with vertical AI industries.
- On regulation and compliance, Crypto.com received the UAE's first crypto SVF license, enabling crypto payments for government service fees - an important milestone for crypto payment compliance in the Middle East.
1. Popular Coins on CEX
CEX Top 10 by Trading Volume & 24h Change:
- BNB: +1.45%
- BTC: -0.12%
- ETH: -0.75%
- SOL: +1.46%
- DOGE: +0.46%
- TON: -1.05%
- RAD: +28.52%
- SUI: -2.78%
- XRP: +1.02%
- OSMO: +68.43%
24-Hour Gainers (Data Source: OKX):
- PARTI: +17.76%
- ROBO: +13.27%
- ASP: +10.11%
- MOVE: +9.78%
- PENDLE: +8.75%
- CRV: +8.25%
- GMT: +7.29%
- BASED: +7.00%
- INJ: +6.93%
- ZBCN: +6.95%
24-Hour Crypto Equity Gainers (Data Source: msx.com):
- VCX.M: 55.52%
- MRAM.M: 53.2%
- AAOI.M: 28.9%
- POET.M: 27.67%
- NA.M: 25.45%
- DXYZ.M: 23.96%
- QUBT.M: 22.71%
- SWMR.M: 22.55%
- BTBT.M: 20.56%
- LITE.M: 17.23%
2. Top 5 Meme Coins On-Chain (Data Source: GMGN):
- TURBO
- RKC
- XMONEY
- RTKC
- Bufo
Headlines
Circle Reports Record $42M in Non-Interest Revenue in Q1, Marking Fifth Consecutive Month of Growth
Circle's Q1 financial report shows non-reserve interest income (Other Revenue) reached $42 million, a record high, continuing a multi-quarter growth trend. This indicates Circle's revenue diversification is progressing well, with decreasing reliance on interest rates. Products like platform services, API tools, and the Agent Stack are generating substantial commercial returns.
Circle (CRCL) Surges 18%, Breaks $134
Circle (CRCL) shares extended gains in intraday trading, surging 18% to break through $134, currently trading at $134.36, with a market capitalization of $33.06 billion.
U.S. President Trump to Make State Visit to China
A spokesperson for China's Ministry of Foreign Affairs announced that, at the invitation of President Xi Jinping, U.S. President Donald Trump will pay a state visit to China from May 13 to 15. (CCTV)
Polymarket's IPO Date Allegedly Leaked, Potentially Set for December 31 This Year
A TradingView page purportedly shows Polymarket's IPO date as December 31, 2025. However, Kalshi's same page also displays the same date, casting doubt on the information's accuracy.
Industry Highlights
Musk May Join U.S. Delegation for Trump's China Visit
According to market sources, Elon Musk will be part of the U.S. delegation accompanying Trump on his visit to China. Tesla's stock price surged over 1% immediately following the news. Earlier, sources indicated that NVIDIA CEO Jensen Huang was not invited and will not travel to Beijing.
FTX/Alameda Unstakes 200,000 SOL Worth $19.4 Million
According to monitoring by Onchain Lens, FTX/Alameda has unstaked 199,263 SOL, valued at approximately $19.4 million.
Project Highlights
The Ethereum Foundation has disclosed the latest progress on the next upgrade, "Glamsterdam": ePBS is running stably on multi-client devnets, the EIP-8037 repricing mechanism has been finalized, and the FOCIL prototype for the expansion track Hegotá has a runnable implementation. Additionally, the Protocol Cluster has completed a leadership restructuring, with former leads Tim Beiko and Barnabé Monnot gradually stepping back from management roles.
Frax Finance: Tangent to Open Pre-Deposits in One Week, frxUSD Becomes Default Stablecoin
DeFi project Tangent will open pre-deposits in one week. frxUSD will serve as one of the protocol's default stablecoins alongside USDC for initial liquidity deployment. The project will be built on the frxUSD PegKeeper pool on Curve Finance.
Tether Launches Developer Grant Program, Now Accepting Applications
Tether has announced the launch of a developer grant program with no overall funding cap. Payments are made based on technical deliverables, with individual grants ranging from approximately $1,500 to $4,000. The program covers areas including wallet infrastructure, browser extensions, and e-commerce payment integrations, and will also enhance the open-source wallet development kit (WDK).
Crypto.com has become the first virtual asset service provider in the UAE to receive a Stored Value Facility (SVF) license from the Central Bank. In partnership with the Dubai Ministry of Finance, it will allow UAE residents to pay for government services using crypto assets. The company also plans to advance crypto payment integrations with Emirates airline and Dubai Duty Free.
St. Jude Children's Research Hospital Sells Donated ASTEROID Holdings, Cashing Out ~$676,000 in ETH
Approximately two years ago, St. Jude Children's Research Hospital received a donation equivalent to 0.5% of the total supply of ASTEROID tokens. As the market capitalization grew from roughly $20,000 to over $150 million, the hospital gradually sold its holdings in 12 tranches, ultimately converting them into more than 290 ETH (approximately $676,000). The funds will be used for childhood disease treatment and research.
Investment & Financing
AI Startup Ciridae Raises $20M Seed Round Led by Accel
AI startup Ciridae has raised $20 million in seed funding, led by Accel with participation from a16z and General Catalyst. The company was co-founded by a former a16z partner and a former head of machine learning at Apple. It focuses on AI-driven digital transformation for medium-sized enterprises in sectors like home services, construction, and industrial distribution. (Fortune)
Notable Voices
Trump: War in Iran Will End Soon
Trump stated that the war in Iran will end soon and that he will meet with a group of generals to discuss the Iran issue. (Jin Shi)
JPMorgan: 2026 Oil Price Forecast at $96/Barrel
JPMorgan stated that it expects the average oil price for the full year 2026 to be $96 per barrel, with Q2, Q3, and Q4 averaging $103, $104, and $98 per barrel, respectively. (Jin Shi)
