24H Trending Coins & Top News｜Strategy May Sell Bitcoin Under Specific Circumstances; Goldman Sachs Survey Expects Strait of Hormuz Shipping Disruptions to Continue into H2 (May 11)
- Core View: Today's market shows structural divergence, with SUI and certain Meme coins leading the secondary market rally. Simultaneously, macroeconomic and geopolitical risks are escalating. Multiple analysts point out that Bitcoin's rebound has not yet confirmed a bull market start, with on-chain data and financial conditions remaining tight.
- Key Elements:
- Clear divergence in the secondary market: SUI leads the Top 10 CEX trading volume rankings (+23.98%), while smaller-cap coins like NAVX (+38.79%) and LAYER (+28.11%) posted even higher gains.
- Macro environment under pressure: A Goldman Sachs survey expects shipping disruptions in the Strait of Hormuz to persist into the second half of the year. The Iranian military has threatened to hinder the passage of sanctioned countries' vessels, with geopolitical risks boosting energy prices and risk-off sentiment.
- Analysts suggest Bitcoin has not entered a bull market: Analyst Axel Adler Jr notes that BTC's rebound from $125k to $60k was a "repair rally," and multiple on-chain indicators have not yet reached historical bottom ranges.
- Clear institutional strategy: Strategy's CEO stated that the company would only sell Bitcoin under specific circumstances, such as for dividend payments or tax optimization. The firm currently holds 818,300 BTC (valued at over $66 billion).
- Canton Network developer Digital Asset is planning to raise $300 million (at a $2 billion valuation), led by a16z. The platform has already processed over $6 trillion in tokenized assets.
1. Popular Tokens on CEX
Top 10 CEX Trading Volume and 24h Change:
- BNB: +2.35%
- BTC: +1.92%
- ETH: +2.10%
- SUI: +23.98%
- SOL: +3.19%
- XRP: +3.60%
- DOGE: +2.47%
- PEPE: +4.24%
- ADA: +3.89%
- SEI: +7.52%
Top 24h Gainers (Data from OKX):
- NAVX: +38.79%
- LAYER: +28.11%
- SUI: +23.96%
- VELO: +16.17%
- ENS: +9.60%
- SNT: +9.09%
- QTUM: +8.55%
- SEI: +8.15%
- SONIC: +8.15%
- W: +8.02%
Top 24h Crypto Stock Gainers (Data from msx.com):
- SOXS.M: 11.94%
- VVPR.M: 11.23%
- ETHD.M: 10.64%
- ICG.M: 10.46%
- CONI.M: 8.54%
- ZSL.M: 8.47%
- MSTZ.M: 7.61%
- YANG.M: 7.42%
- NVDQ.M: 7.09%
- SBIT.M: 6.4%
2. Top 5 On-Chain Meme Tokens (Data from GMGN):
- MOMMATROLL
- 4
- TRETARD
- up
- SACKS
Headlines
Strategy CEO Phong Le stated that the company will only sell Bitcoin under specific circumstances, such as paying the 11.5% dividend on STRC preferred stock or conducting tax optimization arrangements. BTC will only be sold if the operation adds value to common shareholders. Strategy currently holds 818,334 BTC, valued at over $66 billion. (Cointelegraph)
Goldman Sachs Survey: Investors Expect Strait of Hormuz Shipping Disruption to Last Through H2
A Goldman Sachs survey showed that investors generally expect the shipping disruption in the Strait of Hormuz to persist into the second half of the year, following sporadic conflicts between Iranian and US vessels near the strait over the past period. (Jin Shi)
Trump: Iran's Response Is Completely Unacceptable
Trump posted on social media, stating that he had read Iran's response, calling it "completely unacceptable."
Industry Highlights
Qatari LNG Tanker Transits Strait of Hormuz for First Time in ~70 Days
Shipping tracking data shows a Qatari LNG tanker successfully passed through the Strait of Hormuz into the Gulf of Oman, marking the first transit by a Qatari LNG vessel in approximately 70 days since the US-Israeli military operation against Iran. The vessel utilized a new shipping channel recently opened by Iran. It stopped sending position signals for an extended period while transiting the strait. (Xinhua)
Iranian Military: Countries Sanctioning Iran Will Face Difficulties Transiting the Strait of Hormuz
An Iranian military spokesperson stated that countries following the US in sanctioning Iran will face difficulties when transiting the Strait of Hormuz. The spokesperson claimed the Iranian armed forces have "successfully controlled the battle situation" in the conflict and can continue military operations, dismissing the so-called "blockade of Iran" as propaganda. (Xinhua)
CFTC and SEC Strengthen Regulatory Collaboration on Prediction Markets, May Expand Enforcement Scope
According to a FOX journalist, the CFTC and SEC are currently strengthening collaboration on the regulatory boundaries of prediction markets and have maintained a consistent stance in recent investigations into unusual trades related to the Iran conflict. The SEC will also become deeply involved when prediction contracts could be legally classified as "securities." Regulators may launch more enforcement actions against prediction markets in the future.
Intel Shares Surge 15%, Hitting New All-Time High
Apple and Intel have reached a preliminary agreement for Intel to produce some chips for Apple devices. The Trump administration's conversion of nearly $9 billion in federal grants into Intel equity last year, taking a 10% stake, facilitated Apple's participation in negotiations. With Apple joining, Intel has now established partnerships with three major companies: Apple, Tesla, and Nvidia. (Jin Shi)
Crypto analyst Axel Adler Jr. stated that while Bitcoin has rebounded from around $125,000 to $60,000, the current trend is still a "post-decline recovery" and has not confirmed the start of a new bull market. Multiple on-chain indicators have not entered historical bear market bottom ranges. On the macro level, Brent crude oil is near $100, US Treasury yields remain high, and expectations for Fed rate cuts have shifted to "higher for longer," keeping overall financial conditions relatively tight.
Project Highlights
Trump Media Group Posts Q1 Net Loss of $406 Million, Crypto Unrealized Losses Drag Performance
Trump Media & Technology Group (TMTG) reported Q1 earnings with a net loss of $405.9 million and revenue of only $871,200. The widening loss was primarily driven by unrealized losses on crypto assets. The company currently holds 9,542 BTC (approximately $767 million) and 756.1 million CRO, and holds covered call options on 4,000 BTC to hedge against volatility.
The Bored Ape Yacht Club (BAYC) floor price has risen from about 5 ETH to 10 ETH over the past month, and the trading volume for the ecosystem token ApeCoin has also increased significantly. The new CEO of Yuga Labs stated that blue-chip NFTs had been "oversold" and the current rise is a valuation correction. However, the number of genuine NFT holders has not doubled simultaneously. (CoinDesk)
Hot Meme Tokens on BSC Ecosystem Rise; Binance Life Market Cap Exceeds $460 Million
According to GMGN data, meme tokens on the BSC ecosystem are broadly rising: "Binance Life" (币安人生) market cap reported at $465 million, up 22.78% in 24H; "I'm Here Motherf**ker" (我踏马来了) market cap reported at $11.7 million, up 13.8%; "4" market cap reported at $14.04 million, up 13.01%. Odaily reminds users that meme token prices are highly volatile; participate with caution.
Fundraising
Canton Network Developer Seeks $300 Million Funding Round at ~$2 Billion Valuation
Digital Asset, the developer of Canton Network, is raising approximately $300 million at a valuation of about $2 billion. The round is led by a16z crypto and is expected to close within weeks, becoming the company's largest funding round to date. Canton Network has attracted institutional participants including Visa, Goldman Sachs, and DTCC. It focuses on a privacy-configurable public chain for institutions and has processed or issued over $6 trillion in tokenized assets.
Balcony Completes $12.7 Million Seed Round Led by Blockchange Ventures
Balcony, an RWA infrastructure platform based on the Avalanche blockchain, has completed a $12.7 million seed funding round led by Blockchange Ventures. The new funds will be used to deploy a real estate on-chain transaction and asset settlement service platform in the US market, integrating scattered property records into a tamper-proof digital registry.
Multi Investment Raises CHF 480 Million, Will Increase Focus on Blockchain and Web3
Swiss investment firm Multi Investment has raised CHF 480 million (approximately $616 million), bringing its assets under management to over CHF 3 billion. The firm will focus on high-growth areas such as fintech, deep tech, blockchain, and Web3, planning to increase investment in these fields before Q3 2026.
Enterprise-Native AI Platform Pit Raises $16 Million, Led by a16z
Enterprise-native AI platform Pit has raised $16 million in a funding round led by a16z, with participation from Lakestar and executives from companies including OpenAI, Anthropic, Google, Deel, and Revolut. Pit positions itself as an "AI product team as a service," aiming to replace traditional spreadsheets and rigid SaaS systems.
Notable Voices
CZ: Faced Lobbying Opposition from US Competitors During Clemency Request
On the Crypto Banter podcast, CZ revealed that during his clemency request process, he faced strong lobbying opposition from some US cryptocurrency CEX competitors. He stated, "Other US crypto CEXes didn't want me to get clemency," and added that these competitors lobbied heavily in the relevant US processes.
Fed's Goolsbee: The Fed Should Always Consider All Options
Fed's Austan Goolsbee said the Fed should always consider all options. Inflation is underperforming and trends are unfavorable. The most concerning issue is services inflation, and inflationary pressure does not solely come from energy. He also noted there is currently no substantial evidence that the job market is deteriorating, describing the jobs report as looking "fairly stable." (Jin Shi)
