Gate.io Blog Daily News | Bitcoin Returned to $100,000, Ethereum Rose More Than 20% in A Single Day

Daily News | Bitcoin Returned to $100,000, Ethereum Rose More Than 20% in A Single Day

09 May 11:19

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## Crypto Daily Digest: Ripple and SEC officially settled, Meta proposed to enter the stablecoin field again
According to Farside Investors data, a total of $48 million flowed into US <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETFs yesterday. Among them, Ark ARKB had a net inflow of $13.1 million and Fidelity FBTC had a net inflow of $35.3 million. Yesterday, ETH ETFs had an outflow of $16.1 million, of which Fidelity FETH had a net outflow of $19.3 million and Grayscale had a net inflow of $3.2 million.

### Meta proposed to enter the stablecoin field again
According to reports, three years after abandoning the Libra/Diem project, Meta is in preliminary talks with several crypto companies about the application of stablecoins, exploring cross-border payments to creators through stablecoins to reduce costs. Since January this year, former Plaid executive Ginger Baker has served as Meta's vice president of products, leading the relevant advancement.

### Ripple and SEC officially reached a settlement agreement
According to court documents, Ripple and the U.S. Securities and Exchange Commission (SEC) have reached a settlement agreement to lift the ban imposed on Ripple by the court in its August 2024 ruling, and to pay only $50 million of the $125 million civil penalty to the SEC, with the remaining $75 million returned to Ripple.

The two parties agreed not to appeal or request the revocation of the previous judgment. The case has been filed since 2020 and involves the sale of <a href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> as a security. SEC Commissioner Caroline Crenshaw publicly opposed the agreement, saying that it undermines regulatory authority, undermines court rulings and exacerbates regulatory gaps. The agreement still needs the court to make an "indicative ruling" and obtain the approval of the appellate court before it can officially take effect.

### BTC accelerated its transformation into a global reserve asset
<a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> Magazine CEO David Bailey said in the latest episode of The Scoop podcast that <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> is transforming into a global reserve asset at a faster rate than expected. Bailey emphasized that as the adoption rate at the national level increases, <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> has gradually evolved from an early rebellious technology to a strategic consideration at the national security level. He particularly pointed out that the accelerated institutionalization process and continued investment from institutions such as Strategy are driving a clear differentiation between Bitcoin and the broader crypto market.

## Market Trends: Bitcoin Returned to $100,000, Altcoins Rose and Bloomed
### Market Hotspots
Neiro tokens have risen more than 50% in 24 hours. Neiro is a dog-themed meme coin. Dogecoin's famous mascot Kabosu died, and then Kabosu's owner brought home a new <a href="/price/shiba-inu-shib" target="_blank" class="blog_inner_link">Shiba Inu</a> named Neiro. This triggered a frenzy in the meme coin circle, resulting in the emergence of many Neiro-inspired tokens on <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> and Ethereum. Like all meme coins, Neiro lacks substantial support other than sentiment.

VIRTUAL's 24-hour increase was 50%. Virtual started a new AI Agent craze on Base. The recent Genesis Launches event on its own platform became a catalyst for the increase, which once again ignited market enthusiasm.

### Mainstream Coins
BTC has returned to $100,000 after a lapse of 3 months, the first time since early February. Currently, market sentiment is high, and the sentiment about the return of the bull market has begun to spread among investors.

ETH rose by more than 20% in a single day, and its strength was close to the surge in early 2021, reaching the $2,200 mark. The intraday <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> daily K entity rose by 21.8%, and the last time the same situation occurred was on January 3, 2021.

Altcoins generally rose, and driven by the broader market, Altcoins flourished. VIRTUAL rose 50% in 24 hours, EIGEN rose 45.7% in 24 hours, and PNUT rose 40% in 24 hours.

## Macro news: Market sentiment improved, the three major stock indexes closed higher
On Thursday, Eastern Time, the three major U.S. stock indexes closed higher. As of the close, the Dow Jones Industrial Average rose 0.62%, the S&P 500 rose 0.58%, and the Nasdaq rose 1.07%. The conclusion of the U.S.-UK trade agreement and the positive performance of U.S. economic data have jointly promoted the improvement of market sentiment.

Trump also said the United States is currently negotiating with the European Union on trade issues. The European Union said it is ready to impose tariffs on more than $100 billion of U.S. products (including cars and aircraft) if the negotiations fail.

<div class="blog-details-info">
<div>Author:**Orisi T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

ETH/USDT + 9.01%

BTC/USDT + 0.94%

GT/USDT -0.94%

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