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According to Wu's news, the options delivery date for Bitcoin and Ethereum has occurred, involving a notional value of $2.67 billion in BTC and $360 million in ETH. While the volatility and implied volatility of Bitcoin remain stable, the implied volatility of Ethereum has surged to over 100%. Although the proportion of put options has decreased, the proportion of call options has increased, indicating a bullish sentiment in the market for future trends.

Avalanche C-Chain recorded 763,000 transactions on May 7, reaching the highest point since February 2024; on May 8, the number of active addresses on Avalanche reached 746,000, setting a new historical high, of which the number of active addresses on C-Chain was 532,000. Over the past two days, the number of active addresses on OpenSea on Avalanche C-Chain has significantly risen, likely influenced by the increase in NFT trading users and transaction volume driven by the MapleStory Universe game.

According to Wu, as reported by Blockwork Research, Aptos application revenue has maintained a rise for 7 consecutive months, with Merkle and Thala Swap being key drivers contributing over 70% of the revenue. In addition, the supply of Aptos stablecoin reached a record $1 billion in April.

According to Wu, Santiment's analysis revealed that after the recent Pectra upgrade, the price of ETH performed poorly, with some traders, especially retail investors, dumping their ETH in favor of other Memecoins. However, after the panic among retail investors, ETH exhibited a different performance today, returning above $2,075 for the first time in over 6 weeks, which may demonstrate a contrarian approach to profit against the retail investor group.

According to Wu, DeFiLlama data shows that the total market capitalization of stablecoins has risen by over 9 billion USD in the past 30 days, reaching 242.805 billion USD, continuously setting new highs. Since the beginning of this year, the total market capitalization of stablecoins has increased by 37.6 billion USD.

Wu learned that CZ posted on X, stating that the inability to firmly hold Bitcoin often stems from a lack of understanding of technology, finance, and the world. If one only buys Bitcoin because others said so, then the belief in holding it during panic will be very low. He also advised investors to read more, which would be helpful.

Anza and Solana Labs discussed "The Decentralized Nasdaq Path of Solana", proposing that Solana builds an efficient decentralized trading network. The existing blockchain designs are unsatisfactory, there is weak competition among market makers, and Jito auctions lead to concentrated control. It is suggested to introduce a multi-leader Consensus Mechanism to optimize orders, drop market maker costs, and enhance price efficiency.

The Clanker protocol introduces a priority-sorted minimum viable auction for new assets on L2, aiming to optimize the first transactions of new tokens through the Flashbots Rollup-Boost architecture and the MEV tax concept, expected to be implemented on Base or Unichain. The auction design includes locking the token for 4 blocks after creation, recording the base gas price, and paying fees based on the relative base gas price, supporting priority sorting, with fees going to the liquidity pool LP.

Bitcoin mining company Hut 8 Corp announced its Q1 2025 financial report, with revenue down 58% year-on-year to $21.8 million, and a net loss of $134.3 million. The CEO stated that the decline was mainly influenced by the Bitcoin halving and mining rig upgrades. Hut 8 plans to continue investing in new companies and developing data center services for AI businesses.

Author | Sam@IOSG
In March 2025, the Ethereum Foundation (EF) announced a significant leadership change: Executive Director Aya Miyagotchi stepped down from her role as Executive Director to become the Chair of the Foundation; at the same time, Hsiao-Wei Wang and Tomasz Stańczak were appointed as the new Co-Executive Directors; former EF researcher Danny Ryan joined Etherealize.
In the face of fierce competition, Ethereum is facing a moment of transformation. This change is not just a personnel adjustment, but rather a strategic game surrounding the future direction of Ethereum. For a long time, Aya has been promoting the construction of an "infinite garden" for Ethereum with an idealized vision. However, as market competition intensifies and high

MARA and CleanSpark saw revenue rises of 30% and 63% respectively in the first quarter of 2025, with revenues of $214 million and $182 million, but both recorded losses, with MARA losing $533 million and CleanSpark losing $139 million. In contrast, for the same period in 2024, MARA had a net loss of $337 million, while CleanSpark achieved a net profit of $127 million. MARA plans to raise funds through the issuance of up to $2 billion in stock for Bitcoin acquisitions and general operational funding, while CleanSpark continues to focus on Bitcoin mining operations. (TheBlock)

Coinbase's Q1 2025 financial report shows: revenue of $2.03 billion, below expectations, trading income of $1.26 billion, above expectations, EBITDA of $930 million, and a net profit of $66 million. USDC balance is $12.3 billion, a quarter-on-quarter rise of 49%, and derivatives trading volume is $804 billion. The company is registered as a VASP in Argentina and India.

According to Wu, it has been learned that Ripple and the SEC submitted a joint motion to the United States District Court for the Southern District of New York, which shows that both parties have reached a settlement agreement and are requesting the court to issue a declaratory judgment to terminate the injunction against Ripple and release the 125 million dollars in civil penalties held in escrow accounts. Under the agreement, Ripple will pay 50 million dollars to the SEC, and the remaining amount will be returned to Ripple.

According to Bloomberg, Celsius Network founder Alex Mashinsky was sentenced to 12 years in prison for Crypto Assets fraud. Mashinsky pleaded guilty last December, and U.S. District Judge John Koeltl in Manhattan issued the ruling on May 8. Federal prosecutors had originally sought a 20-year sentence, stating that he showed "no remorse" for the fraudulent activities involved.

Meta is in discussions with Crypto Assets companies about cross-border payment solutions, considering the use of stablecoin, and has hired former Plaid executive Ginger Baker as Vice President of Product to drive exploration. The focus is on dropping payment fees, especially for small payments on Instagram. After the failure of the Libra project, Meta is reattempting to achieve payment innovation through stablecoin. (Source: Fortune)

The U.S. Senate did not pass a key procedural vote on the GENIUS bill, with insiders stating that some Democratic lawmakers who previously supported the bill switched to opposition in Thursday's vote due to concerns over the anti-money laundering and national security provisions in the latest version. The Republicans pushed for a vote but failed to garner enough support, leaving the bill temporarily shelved. The White House had originally planned to sign the cryptocurrency legislative protocol in the Rose Garden in August, but the prospects are now unclear. (Decrypt)