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The cryptocurrency marketplace continued to surge this past week arsenic the wide integer plus marketplace capitalization exceeded $3.27 trillion, an 8.6% summation implicit the erstwhile week.
Bitcoin (BTC) reached a precocious of $103,600 connected May 8 aft reclaiming $100,000 for the archetypal clip since January. Its marketplace dominance besides surged supra 60%, reflecting much bullish BTC sentiment. This marked the 3rd clip BTC has breached done six figures since it reached the milestone connected Dec. 5, 2024, and again connected Jan. 20, up of US President Donald Trump’s inauguration.
The BTC emergence coincided with Trump announcing a commercialized woody with the United Kingdom, which whitethorn see removing a 10% broad tariff connected each imports.
In the wider crypto space, Ethereum’s Pectra upgrade implemented much-needed improvements for the crypto ecosystem. The upgrade was followed by a 26% terms surge for Ether (ETH), rising from $1,800 connected May 7 to implicit $2,300 connected May 9.
Total crypto marketplace cap, 1-year chart. Source: CoinMarketCapBitcoin DeFi sees surge successful mining information contempt driblet successful TVL
Messari's “State of Rootstock” study for 2025 showed that merged mining information surged to an all-time precocious of 81% successful Q1 2025, up from 56.4% successful the erstwhile quarter. The surge was attributed to onboarding large mining pools SpiderPool and Foundry.
The influx of mining enactment boosted Rootstock's hash powerfulness supra 740 exahashes per second. This surpassed Bitcoin's full web hashrate recorded successful October 2024, marking a much mature signifier for the platform's merged mining growth.
The surge successful merged mining information came arsenic Rootstock's ecosystem faced headwinds. In Q1 2025, Rootstock’s full worth locked (TVL) declined. Its Bitcoin TVL dropped 7.2%, portion the dollar-denominated TVL fell by implicit 20% quarter-on-quarter.
Rootstock overview for Q1 2025. Source: MessariThis mirrored a broader downward inclination crossed the DeFi sector, with Ethereum-based DeFi TVL showing a 27% diminution successful the aforesaid period.
Hacken CEO sees “no shift” successful crypto information arsenic April hacks deed $357 million
Crypto hacks successful April saw astir $360 cardinal successful assets stolen crossed 18 incidents. This represented an astir 1,000% summation implicit the magnitude mislaid successful March.
The largest nonaccomplishment came from an unauthorized Bitcoin transfer. On April 28, blockchain researcher ZachXBT reported a suspicious transaction of Bitcoin worthy $330 million. He aboriginal confirmed that it was a societal engineering onslaught that targeted an aged American.
Source: PeckShieldIn a Cointelegraph interrogation astatine the Token2049 event, Hacken CEO Dyma Budorin told Cointelegraph that the manufacture continues to trust connected constricted information measures adjacent aft the $1.4 cardinal Bybit hack incident. Budorin said that the abstraction implements constricted measures alternatively of deploying broad strategies.
“Most of the projects think, ‘Okay, we did pentests. That’s enough. Maybe bug bounty. That’s enough.’ It’s not enough,” Budorin told Cointelegraph.
AI decentralized apps are coming for the Web3 throne: DappRadar
While gaming and DeFi held connected to the apical spot successful the decentralized applications (DApps) ecosystem, artificial quality is dilatory catching up.
Blockchain analytics level DappRadar showed that Gaming and DeFi saw 21% DApp dominance successful April. However, AI DApps climbed to 16%, up from the 11% recorded successful the platform's February data.
“As idiosyncratic involvement successful artificial quality tools grows crossed industries, AI-powered DApps are steadily carving retired their spot successful the decentralized ecosystem,” DappRadar expert Sara Gherghelas said.
AI DApps person seen a leap successful marketplace dominance this month, portion marketplace leaders person declined slightly. Source: DappRadarGherghelas added that if the inclination continues, AI could situation the dominance of DeFi and gaming, signaling a "new era" successful the DApp landscape.
Bitcoin-backed loans “obvious” adjacent measurement — Xapo Bank CEO
Bitcoin holders are becoming much assured successful utilizing their BTC to get funds. In a Token2049 interview, Xapo Bank CEO Seamus Rocca told Cointelegraph that investors' moods person shifted from short-term speculation to a much semipermanent outlook connected Bitcoin.
Rocca said that the assurance comes from broader organization adoption and Bitcoin's terms levels that are "nowhere near" liquidation.
Rocca said Bitcoin-backed loans let holders to enactment exposed to the plus erstwhile facing unexpected expenses. The enforcement said the astute happening to bash is not merchantability the plus erstwhile the terms increases.
Xapo Bank CEO Seamus Rocca astatine the Token2049 media lounge. Source: CointelegraphHowever, erstwhile beingness gets successful the way, Rocca said investors tin debar liquidating their Bitcoin by borrowing against the plus and paying interest. This way, they tin clasp connected to the assets contempt needing liquidity for their expenses.
DeFi Market Overview
According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.
The memecoin Pepe (PEPE) roseate by implicit 53% arsenic the week’s biggest gainer, followed by the Pudgy Penguins (PENGU) token, which was up by 47% during the past week. Ether (ETH) was the third-biggest gainer, showing an summation of 35%.
Total worth locked successful DeFi. Source: DefiLlamaThanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.
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