The weekend was a whirlwind of activity in the financial world, with a particular focus on cryptocurrencies. From Peter Schiff&#8217;s surprising preference for Dogecoin over Bitcoin to Riot Platforms&#8217; Q1 results, there was no shortage of intriguing developments. Let&#8217;s dive into the top stories.



Peter Schiff Prefers Dogecoin Over Bitcoin



Known for his criticism of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Peter Schiff has made headlines by expressing a preference for Dogecoin, a meme-based cryptocurrency, over the leading digital currency. Schiff&#8217;s stance on Bitcoin has always been critical, questioning its value and the investment rationale of its holders.



<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45127948/peter-schiffs-bitcoin-rejection-is-no-surprise-but-the-economist-once-called-dogecoin-a-superior-cryptocurrency">Read the full article here.</a>



Riot Platforms&#8217; Q1 Results



Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) reported its Q1 financial results after market close on Thursday. The company saw a significant increase in total revenue from $79.3 million in the prior year&#8217;s quarter, primarily driven by a $71.5 million increase in Bitcoin mining revenue.



<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45154528/bitcoin-miner-riot-platforms-reports-q1-results-shares-slide">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/45111384/shiba-inu-burn-rate-skyrockets-2094-what-is-going-on" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Skyrockets 2,094%: What Is Going On?</a>



Classover Holdings&#8217; $400 Million Equity Deal



Classover Holdings Inc. announced a $400 million equity purchase facility agreement with Solana Strategies Holdings. The funds will support working capital, acquisitions, and a new treasury strategy centered around Solana tokens.



<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45151295/classover-holdings-kidz-announces-400-million-equity-deal-to-back-solana-based-treasury-strategy-whats-going-on">Read the full article here.</a>



SoFi Reintroduces Crypto



SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) plans to reintroduce cryptocurrency investing by the end of 2025, following a major shift in the regulatory environment under the Trump administration. SoFi had previously discontinued its crypto investment services in late 2023 due to heightened federal scrutiny of digital assets.



<a href="https://www.benzinga.com/news/management/25/04/45084982/sofi-brings-crypto-back-after-trump-policy-changes">Read the full article here.</a>



World Liberty&#8217;s Stablecoin In $2 Billion Deal



Eric Trump announced that the Trump family-backed stablecoin USD1 will be used to close a $2 billion deal with cryptocurrency exchange Binance. The announcement was made at the Token2049 cryptocurrency conference in Dubai.



<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45160707/eric-trump-says-world-libertys-stablecoin-will-be-used-to-close-a-2-billion-deal-dollar-token-to-also-get-integrated-with-justin-suns-tron-blockchain">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45140147/dogecoin-surges-5-what-is-going-on" target="_blank" rel="noreferrer noopener">Dogecoin Surges 5%: What Is Going On?</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>



Image Via Shutterstock

World Liberty's Stablecoin In $2 Billion Deal, SoFi Reintroduces Crypto And Riot Platforms' Q1 Results: This Week In Crypto

Needham analyst John Todaro reiterated the Buy rating on Riot Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) on Friday, <a href="https://www.benzinga.com/quote/RIOT/analyst-ratings" target="_blank" rel="noreferrer noopener">lowering the price forecast from $13.50 to $12.</a>



On Thursday, the company reported first quarter results, in which total revenue was up from $79.3 million in the prior year's quarter, primarily driven by a $71.5 million increase in&nbsp;Bitcoin&nbsp;mining revenue.



The Bitcoin miner produced 1,530 Bitcoin in the first quarter, up from 1,364 in the first quarter of 2024. Riot's average cost to mine totaled $43,808 in the quarter.&nbsp;



The analyst remains bullish on Riot Platforms for four main reasons.



First, the company has upcoming high-performance computing (HPC) opportunities in 2026 with 600MW of potential capacity at its Corsicana site.



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/technicals/25/05/45147802/riot-vs-microstrategy-strategy-vs-block-one-bull-one-bear-one-in-the-balance-ahead-of-q1-earnings" rel="noreferrer noopener">Riot Vs. MicroStrategy (Strategy) Vs. Block: One Bull, One Bear, One In The Balance Ahead Of Q1 Earnings</a>



Second, Riot is a low-cost Bitcoin producer, with power costs below four cents per kilowatt-hour.



Third, it maintains a clean balance sheet with no corporate debt and holds one of the largest cash and Bitcoin positions among publicly traded mining firms.



Lastly, the stock currently trades at a discount to peers, but the analyst expects this to change as HPC becomes a more significant growth driver.



Despite this optimism, the analyst lowered the price forecast, based on 13x the firm's 2026 estimated EV/EBITDA.



According to Todaro, Riot's SG&amp;A expenses should ease going forward now that its litigation with Rhodium is resolved, which also frees up an additional 125MW of capacity.



While Riot has yet to secure a letter of intent with HPC tenants, the analyst remains optimistic about the potential at its Corsicana site, citing infrastructure upgrades and management's commitment to developing a full-stack, built-to-suit data center.



RIOT Price Action: Riot Platform shares closed Friday up 7.98% at 8.39%.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45172683/wall-street-eyes-9th-straight-day-of-gains-apple-falls-as-chinese-sales-disappoint-whats-driving-markets-friday" target="_blank" rel="noreferrer noopener">Wall Street Eyes 9th Straight Day Of Gains, Apple Falls As Chinese Sales Disappoint: What&#8217;s Driving Markets Friday?</a></li>
</ul>



Photo: Shutterstock

Riot Platforms Powers Up: Analyst Gives 4 Reasons Why He Is Bullish

Cryptocurrency markets are treading water as the market enters a quiet stretch ahead of a key week for macroeconomic data.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$97,490.40</td><td>+0.9%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$1,852.16</td><td>+0.2%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$149.98</td><td>-0.2%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.21</td><td>-0.5%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1815</td><td>+0.2%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001348</td><td>-1%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 19.6% and daily active addresses falling by 0.9%. Transactions greater than $100,000 are down from 10,529 to 10,084 in a single day. Exchanges netflows are down by 133.6%.</li>



<li>Coinglass data reports 71,325 traders were liquidated in the past 24 hours for $135.88 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45168129/bitcoin-up-25-from-tariff-lows-heres-the-case-for-new-all-time-highs-soon">Bitcoin Up 25% From Tariff Lows: Here&#8217;s THe Case For New All-Time Highs Soon</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45165364/aptos-eyes-real-world-utility-beyond-nfts-and-defi-says-ecosystem-head-ash-pampati">Aptos Eyes Real-World Utility Beyond NFTs And DeFi, Says Ecosystem Head Ash Pampati</a></li>



<li><a href="https://www.benzinga.com/25/05/45170022/bitcoin-hovers-around-97000-but-this-is-a-fragile-rally-analyst-warns">Bitcoin Hovers Around $97,000 But This Is A &#8216;Fragile Rally,&#8217; Analyst Warns</a></li>



<li><a href="https://www.benzinga.com/news/guidance/25/05/45152230/strategy-q1-earnings-bitcoin-treasury-company-raises-its-btc-yield-and-btc-gain-targets-for-2025">Strategy Q1 Earnings: Bitcoin Treasury Company Raises Its &#8216;BTC Yield&#8217; And &#8216;BTC $ Gain&#8217; Targets For 2025</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45154528/bitcoin-miner-riot-platforms-reports-q1-results-shares-slide">Bitcoin Miner Riot Platforms Reports Q1 Results, Shares Slide</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Pudgy Penguins (CRYPTO: PENGU)</td><td>$0.01233</td><td>+13%</td></tr><tr><td>EOS (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eos/usd">EOS</a>)</td><td>$1.85</td><td>+9.5%</td></tr><tr><td>Immutable (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">IMX</a>)</td><td>$0.6441</td><td>+8.2%</td></tr></tbody></table></figure>



Trader Notes: Bitcoin trader Cole sees Bitcoin forming a potential rising wedge, often a bearish pattern. With an uptick in long positions and light weekend liquidity, he warns of a possible pullback toward the daily open or support near $95,000–$95,500.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> watching Potiential rising wedge closely as we head into weekend. Low volume weekend can change things but we'll see. Seeing a lot of longs opening up here, see if we get a pullback to D/O or $95k-$95.5k support &#x1f91d;&#x1f3fb; <a href="https://t.co/pRZWN7mDRM">https://t.co/pRZWN7mDRM</a> <a href="https://t.co/8eztNTiP6z">pic.twitter.com/8eztNTiP6z</a>&mdash; Cole (@_ColesTrading) <a href="https://twitter.com/_ColesTrading/status/1918351013075128511?ref_src=twsrc%5Etfw">May 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Titan of Crypto <a href="https://x.com/Washigorira/status/1918335784223904072">points</a> to the SuperGuppy indicator, which just flipped bullish on the weekly chart, signaling a momentum shift back in favor of the bulls and potentially confirming the start of a longer-term uptrend.



Adding to the bullish narrative, Ted Pillows <a href="https://x.com/TedPillows/status/1918310412073717802">compares</a> Bitcoin's structure to gold's previous rally pattern &#8211; accumulation, breakout, highs, then re-accumulation. He sees BTC currently beginning its next leg up, projecting a new high by Q2 2025 based on that historic rhythm.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is just following Gold&#39;s rally. Accumulation phase followed by a breakout which led to a new ATH. After that, BTC entered the re-accumulation phase and broke out of it in Q4 2024. For the past few months, BTC was back into the consolidation phase and now it has started… <a href="https://t.co/UCDDvtxxmh">pic.twitter.com/UCDDvtxxmh</a>&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1918310412073717802?ref_src=twsrc%5Etfw">May 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



On-chain data from Glassnode strengthens the bull case:



<ul>
<li>Long-term holders have <a href="https://x.com/glassnode/status/1918359719619477701">accumulated</a> over 254,000 BTC now aged past 155 days.</li>



<li>Many of these coins were bought above $95,000, and spending remains low, a sign of confidence and reduced desire to sell. </li>



<li>Additionally, BTC holders with 30+ day coins are now <a href="https://x.com/glassnode/status/1918274195886162299">back</a> in profit, easing potential sell pressure from short-term holders.</li>
</ul>



Together, these signals point to early-stage bullish momentum, but with weekend volatility and leveraged longs building, traders remain cautious.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45164011/bitcoin-ethereum-xrp-dogecoin-sentiment-rebounds-as-btc-hits-97000">Bitcoin, Ethereum, XRP, Dogecoin Sentiment Rebounds As BTC Hits $97,000</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Hold Steady As Bulls Eye Further Gains

<a href="https://www.benzinga.com/insights/analyst-ratings/25/05/45134453/the-analyst-verdict-robinhood-markets-in-the-eyes-of-21-experts#:~:text=Analysts%20provide%20deeper%20insights%20through,average%20price%20target%20of%20%2460.30.">Mizuho Securities analysts</a> remain optimistic about Robinhood&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) crypto business, despite trading volumes falling from a $15 billion monthly average in Q1 to $8 billion in April.



What Happened: Despite April&#8217;s volume decline, Mizuho Securities identified three key reasons to &#8220;stay constructive&#8221; on Robinhood&#8217;s crypto prospects:



<ul>
<li>April&#8217;s $8 billion in crypto volume, while lower than recent months, still exceeds historical averages. </li>



<li>Take rates are trending upward, with Q1 gross take rates reaching 57 basis points compared to 53 basis points in Q4 and just 37 basis points in the first half of 2024. </li>



<li>History suggests volumes per funded account rarely remain suppressed when Bitcoin prices rise, as they did by 10% in April.</li>
</ul>



&#8220;Take rates are moving up &#8211; and we believe they will continue that trajectory,&#8221; Mizuho analysts led by Dan Dolev wrote in a note <a href="https://www.theblock.co/post/352972/robinhood-crypto-volumes-dip-in-april-but-mizuho-sees-no-cause-for-concern?utm_source=rss&amp;utm_medium=rss">reported by</a> The Block on Friday. 



Dolev highlighted that Coinbase&#8217;s retail take rate is nearly three times higher, suggesting &#8220;ample upside potential&#8221; for Robinhood to continue raising its rates.



The firm maintained its &#8220;outperform&#8221; rating on HOOD shares while adjusting its price target from $80 to $65 and lowering second-quarter crypto volume estimates from $35 billion to $32 billion.



Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45170765/trumps-first-100-days-fuel-gold-crush-stocks-bofa-strategist-sees-soft-macro-masked-by-hard-ai-bets">Forget The Stock Market&#8217;s Tariff Turmoil. Trump&#8217;s Next 100 Days Could Bring A Bullish Trifecta That Reignites Demand, Expert Says</a>



What Experts Are Saying: Other analysts also <a href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45155666/robinhood-stock-falls-after-analysts-cite-weak-crypto-volumes-and-market-headwinds-in-q2-outlook">adjusted their outlooks</a> following the earnings report. 



JP Morgan&#8216;s Kenneth Worthington maintained a Neutral rating while raising his price target from $44 to $47.



He noted that despite softer crypto volumes, Robinhood still attracted a record $18 billion in net new deposits this quarter, with only about 15% due to promotions.



Piper Sandler&#8216;s Patrick Moley maintained an Overweight rating with a $70 price target, highlighting strong adoption of Robinhood&#8217;s newer offerings. 



During the earnings call, management revealed that futures, index options and prediction market products were each already generating approximately $20 million in annual run-rate revenue.



Robinhood CEO Vlad Tenev expressed enthusiasm about the prediction market performance, noting that over 1 billion contracts had been traded in the last six months across various events including U.S. elections and sports competitions. 



The company plans to &#8220;expand the offering into a wider variety of contracts over time,&#8221; according to Tenev.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45172683/wall-street-eyes-9th-straight-day-of-gains-apple-falls-as-chinese-sales-disappoint-whats-driving-markets-friday">Wall Street Eyes 9th Straight Day Of Gains, Apple Falls As Chinese Sales Disappoint: What&#8217;s Driving Markets Friday?</a></li>
</ul>



Photo Courtesy: Sergei Elagin On Shutterstock.com

Robinhood's April Crypto Volumes Fall 47% From Q1 Average, But Analysts See 3 Reasons To 'Stay Constructive'

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) resilience is fueling speculation that it may be evolving into an equity alternative, a shift that could make it more stable and attractive during <a href="https://www.benzinga.com/content/45132992/3-retail-stocks-that-desperately-need-a-tariff-break">broader market turbulence</a>.



What Happened: In an X <a href="https://x.com/nicrypto/status/1917923721722863988">post</a> on May 1, CoinBureau CEO and co-founder Nic Puckrin referenced BlackRock's Robert Mitchnick, who suggested that Bitcoin could become a "low-beta" asset if investor behaviour shifts accordingly, drawing from George Soros's reflexivity theory, where belief shapes reality.



Mitchnick's thesis is being supported by recent price action: Bitcoin held steady even as equities slid during renewed U.S.-China tensions. 



Notably, BTC was less volatile than the S&amp;P 500 over a 7-day stretch, while $3 billion flowed into spot ETFs. 



A growing share of long-term holders versus short-term traders may also be stabilizing the asset. 



While it's too early to definitively label Bitcoin low beta, the trend is drawing attention as investors seek diversification.



"If enough people believe BTC is low-beta, it may actually start behaving like one," said Puckrin.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45164011/bitcoin-ethereum-xrp-dogecoin-sentiment-rebounds-as-btc-hits-97000">Bitcoin, Ethereum, XRP, Dogecoin Sentiment Rebounds As BTC Hits $97,000</a>



Why It Matters: In a follow-up <a href="https://x.com/nicrypto/status/1918271016180302294">post</a> on May 2, Puckrin highlighted that altseason historically begins ~320 days after each halving. Key triggers still missing are:



<ul>
<li>Bitcoin dominance needs to fall below 54%, currently, it's still climbing.</li>



<li>ETH/BTC remains weak, lacking signs of a bottom.</li>



<li>The Fed must officially end Quantitative Tightening (QT) and signal rate cuts.</li>
</ul>



For altcoins to rally meaningfully, Bitcoin must break its all-time high without absorbing all the market's liquidity, Puckrin noted. 



Still, tailwinds are forming: stablecoin supply is expanding, often a precursor to broader crypto gains, regulatory pressure is easing — fewer enforcement actions, more ETF filings and Trump's recent executive order is seen as broadly pro-crypto.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45168129/bitcoin-up-25-from-tariff-lows-heres-the-case-for-new-all-time-highs-soon">Bitcoin Up 25% From Tariff Lows: Here&#8217;s THe Case For New All-Time Highs Soon</a></li>
</ul>

Bitcoin Closing In On $100,000: What's Driving The Surge?

In a world of increasingly divided markets between yield-hungry investors and adrenaline-seeking traders, Defiance ETFs is convinced there are some who want both. Meet the Defiance Leveraged Long + Income MSTR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MST#NASDAQ">MST</a>), a recently introduced fund that combines leveraged long exposure to MicroStrategy Inc (Strategy) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock with an unusual twist in the <a href="https://www.benzinga.com/etfs">world of geared ETFs</a> — weekly income.



It&#8217;s a high-wire performance: part momentum game, part revenue driver and all constructed around one of Wall Street&#8217;s most unstable surrogates for Bitcoin.



Also Read: <a href="https://www.benzinga.com/25/05/45149385/new-grayscale-etf-lets-you-invest-in-bitcoin-without-the-coin">New Grayscale ETF Lets You Invest In Bitcoin, Without The Coin</a>



<h1 class="wp-block-heading">A First-of-Its-Kind Structure</h1>



MST is the inaugural ETF to provide 1.5x to 2x daily exposure to MicroStrategy (Strategy) while at the same time attempting to distribute income weekly through a credit call spread method. It&#8217;s a structural spin designed to calm the volatile wildness of leveraged investing with the promise of regular, options-based payouts.



The dual aim of the fund — long-term capital growth and income generation — demonstrates increasing demand among retail investors for products that provide more than a simple directional gamble.



But <a href="https://www.globenewswire.com/news-release/2025/05/02/3073048/0/en/Defiance-ETFs-Unveils-MST-The-First-Leveraged-MicroStrategy-ETF-that-Seeks-to-Pay-Income-Weekly.html">MST </a>is not exactly a low-risk proposition: the levered element sees dramatic MicroStrategy (Strategy) movements working both ways, and the fund&#8217;s performance can stray from the mark when markets are volatile.



MST itself holds no cryptocurrencies, but its underlying stock of MicroStrategy (Strategy) is nominally a Bitcoin exposure vehicle masquerading as such. With Chairman Michael Saylor at the helm, the company has amassed billions of Bitcoin and now marches in near-lockstep with crypto sentiment. 



That makes MST, for good or bad, a means of playing Bitcoin&#8217;s upside (and downside) without actually holding the asset.



The firm bets on its success with previous MSTR-tied funds, the Daily Target 2X Long MSTR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTX#NASDAQ">MSTX</a>) and the Daily Target 2X Short MSTR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMST#NASDAQ">SMST</a>), which collectively have grown more than $1 billion in assets. MST extends the firm further into its theme of democratizing thematic, tactical ETFs to retail investors — without dumbing down the complexity.



But this is no sleepy index fund. The options overlay and dynamic leverage of the fund mean that investors have to remain vigilant to both reward and risk. MST can produce income and leverage returns — but in volatile markets, it can also leverage losses.



MST provides an unorthodox combination of crypto-adjacent leverage and weekly income, designed for risk-willing investors seeking to straddle momentum and cash flow. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/05/45153699/new-etf-bets-on-small-companies-to-offer-growth-monthly-income">New ETF Bets On Small Companies To Offer Growth, Monthly Income</a></li>
</ul>

New MST ETF Mixes MicroStrategy (Strategy) Leverage With A Side Of Weekly Income

U.S. stocks advanced across the board by midday Friday, with the S&amp;P 500 eyeing its ninth consecutive day of gains—poised for the longest winning <a href="https://www.benzinga.com/markets">streak since May 2024.</a>



Risk appetite remained firm, underpinned by solid corporate earnings and a stronger-than-expected April jobs report. Nonfarm payrolls rose by 177,000, beating expectations of 130,000 and easing concerns over tariff-related hiring slowdowns.



All eleven S&amp;P 500 sectors traded in positive territory, led slightly by financials over technology. Major indexes have now fully recovered from the declines sparked on April 2, when President Donald Trump announced sweeping tariffs across trading partners.



The Nasdaq 100 climbed to levels last seen in late March, capping a strong week for tech stocks. Among the Magnificent Seven, all were on pace to close the week higher except Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which slipped 4% as strong earnings were overshadowed by weaker sales in China.



The U.S. dollar index resumed its decline, pressured by renewed calls from President Trump for the Federal Reserve to lower interest rates ahead of next week's policy meeting.



Treasury yields surged following the upbeat jobs data, with the 10-year note jumping 10 basis points to 4.31%, easing recession concerns entering the second quarter.



In commodities, oil prices fell back to $58 per barrel despite Thursday's rally on heightened geopolitical tensions in the Middle East. Gold rebounded 0.5%, set to snap a three-day losing streak, while natural gas prices jumped 4.4% to a two-week high.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 1% to $97,500, marking its fourth straight week of gains.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Russell 2000</td><td>2,009.90</td><td>+1.7%</td></tr><tr><td>Nasdaq 100</td><td>20,052.42</td><td>+1.3%</td></tr><tr><td>S&amp;P 500</td><td>5,671.17</td><td>+1.2%</td></tr><tr><td>Dow Jones</td><td>41,130.34</td><td>+0.9%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 11:30 a.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $565.03.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.9% to $411.29.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 1.4% to $488.26.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1.8% to $199.58.</li>



<li>The&nbsp;Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.7%; the&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, up 0.3%.</li>
</ul>



<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>



Stocks reacting to earnings reports included: 



<ul>
<li>Apple Inc.: down 4.0%</li>



<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): up 0.2%</li>



<li>Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): up 0.0%</li>



<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): up 0.7%</li>



<li>Eaton Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>): down 2.1%</li>



<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>): down 1.8%</li>



<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>): down 0.5%</li>



<li>Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>): up 3.5%</li>



<li>Monolithic Power Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>): up 4.0%</li>



<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>): up 14.2%</li>



<li>Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>): down 1.7%</li>



<li>T. Rowe Price Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>): up 3.5%</li>



<li>Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>): up 1.2%</li>



<li>Mettler-Toledo International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>): up 1.4%</li>



<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>): up 0.1%</li>



<li>Motorola Solutions, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSI#NYSE">MSI</a>): down 6.2%</li>



<li>Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>): down 0.2%</li>
</ul>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45166673/trump-pressures-fed-after-solid-jobs-cooling-inflation-lower-rates-now">Trump Pressures Fed After Solid Jobs, Cooling Inflation: &#8216;Lower Its Rate!&#8217; (CORRECTED)</a></li>
</ul>



Photo: Shutterstock

Wall Street Eyes 9th Straight Day Of Gains, Apple Falls As Chinese Sales Disappoint: What's Driving Markets Friday?

Fartcoin (CRYPTO: FARTCOIN) is turning heads with a <a href="https://www.benzinga.com/money/fartcoin-price-prediction">10% rally over the past week</a>, leaving meme coin heavyweights Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) trailing behind.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Market Cap</td><td>24-Hour Trend</td><td>7-Day Trend</td></tr><tr><td>Fartcoin</td><td>&nbsp;$1.21</td><td>$1.21 billion</td><td>-3.2%&nbsp;</td><td>+9.2%&nbsp;</td></tr><tr><td>Dogecoin </td><td>&nbsp;$0.1822</td><td>$27.2 billion</td><td>+0.8%&nbsp;</td><td>-1.5%&nbsp;</td></tr><tr><td>Shiba Inu </td><td>&nbsp;$0.00001358</td><td>$8 billion</td><td>+0.2%&nbsp;</td><td>-4%&nbsp;</td></tr></tbody></table></figure>



Trader Notes: The surge follows a wave of bearish sentiment from high-profile accounts, a setup that prominent trader Unipcs says mirrors conditions ahead of Fartcoin's last major rally.



Unipcs <a href="https://x.com/theunipcs/status/1918206886656217478">argues</a> that Fartcoin remains at the center of meme coin mindshare, especially with Bitcoin nearing new all-time highs. 



After enduring a brutal 92% correction, he believes a full collapse is unlikely, and that skeptics may be spreading fear to buy lower.



Trader Cold Blooded Shiller highlighted that $1.20 is acting as a sticky resistance, but signs of strength are returning on lower timeframes.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Starting to get that LTF strength through here on FARTCOIN. $1.20 being sticky. <a href="https://t.co/9sXadA9IK4">https://t.co/9sXadA9IK4</a> <a href="https://t.co/ylFxFHNcdy">pic.twitter.com/ylFxFHNcdy</a>&mdash; Cold Blooded Shiller (@ColdBloodShill) <a href="https://twitter.com/ColdBloodShill/status/1918265238278824105?ref_src=twsrc%5Etfw">May 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Artchick <a href="https://x.com/digitalartchick/status/1918110570126934390">pointed</a> out that Fartcoin just posted its highest monthly close and has only closed higher on the weekly chart twice before. 



He argues the market is too focused on noise and that we could be witnessing the start of a historic, organic rally.



Kriesz, dubbing himself the "Chief Farting Officer," <a href="https://x.com/_Kriesz_/status/1917678542894293489">sees</a> bullish technicals forming, including an ascending triangle and cup-and-handle pattern. His target: $1.66–$1.67, citing measured moves from past setups and liquidity zones.



Statistics: &nbsp;Stalkchain <a href="https://x.com/StalkHQ/status/1918077979374305618">shows</a> Fartcoin was the most purchased token by smart money wallets in the last 24 hours, a bullish signal as momentum builds.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45134223/dogecoin-millionaire-shares-his-top-5-plays-doge-shib-pepe-and-two-surprises">&#8216;Dogecoin Millionaire&#8217; Shares His Top 5 Plays: DOGE, SHIB, PEPE And Two Surprises</a></li>
</ul>



Image: Shutterstock

Fartcoin Soars 10% In A Week, Outshining Dogecoin, Shiba Inu

Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) recovery to $97,000 shows concerning signs of weakness in on-chain metrics despite strong ETF inflows, suggesting the rally may be <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45164011/bitcoin-ethereum-xrp-dogecoin-sentiment-rebounds-as-btc-hits-97000">more fragile than it appears</a>.



What Happened: According to Vizart, on-chain analyst at Glassnode, the rally was &#8220;spot driven mostly, but it didn&#8217;t ignite or incentivize the perpetual market.&#8221;



During their latest Bitcoin Intelligence Report on the 21st Capital podcast published on April 30, he <a href="https://www.youtube.com/watch?v=YaGA_tHsAgg&amp;ab_channel=21stCapital">characterized</a> the current market structure as a &#8220;fragile rally&#8221; that lacks crucial confirmation signals typically seen in sustainable uptrends.



The analysis highlights that while Bitcoin has rebounded significantly from its recent lows near $74,000, several key metrics suggest caution. 



Most notably, the funding rate in perpetual futures markets remains below the critical 0.01% threshold that historically signals strong bullish momentum. 



&#8220;The trend in the funding rate is not showing a strong bounce back,&#8221; Vizart noted.



This divergence between spot buying and derivatives market sentiment is particularly concerning, as sustainable rallies typically show alignment between these sectors. 



The &#8220;long side premium per hour&#8221; metric, which measures how much traders are willing to pay to maintain leveraged long positions, has declined significantly from December 2024&#8217;s peak of over $1 million per hour to near-zero levels.



The analysis also examined Bitcoin ETF flows, which showed strong inflows after Bitcoin broke above $93,000. 



Rather than viewing this positively, Vizart suggested this pattern resembles retail FOMO behavior. &#8220;So-called smart money or institutional investors are behaving as retail investors.&#8221;



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45076518/bitcoin-is-a-commodity-like-gold-says-commerce-secretary-lutnick">Bitcoin Is A Commodity Like Gold, Says Commerce Secretary Lutnick</a>



Why It Matters: From a technical perspective, Bitcoin trades at a critical juncture near the cost basis of short-term holders around $93,000.



Historically, sustainable bull markets require prices to remain above this level for at least a month, while brief recoveries above this threshold followed by failures have characterized bear market rallies.



For investors, the analysts suggest patience may be warranted. 



Absent a &#8220;positive comeback in macro in coming weeks,&#8221; a dip back into the $70,000s may be on the table, warned Vizart, who identified $71,000-$72,000 as a potential &#8220;golden time&#8221; for accumulation.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45112881/sell-bitcoin-ethereum-xrp-in-may-and-go-away-dont-be-so-sure-in-2025-expert-says">Sell Bitcoin, Ethereum, XRP In May And Go Away? Don&#8217;t Be So Sure In 2025, Expert Says</a></li>
</ul>



Image: Shutterstock

Bitcoin Hovers Around $97,000 But This Is A 'Fragile Rally,' Analyst Warns

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is up 25% from lows set on April 9, prompting analysts to wonder whether the bottom is in and a <a href="https://www.benzinga.com/markets/25/04/45047465/no-crypto-bull-run-until-2026-top-exec-says-despite-recent-market-resurgence">new bull run has begun</a>.



What Happened: In a detailed X <a href="https://x.com/Breedlove22/status/1918056262128075032">thread</a> on May 2, podcast host Robert Breedlove pointed to a confluence of metrics, suggesting Bitcoin is at or near its local bottom and may be entering the early stages of a major bull cycle.



Breedlove emphasized that fiat liquidity is expanding, driven by U.S. dollar trends and institutional inflows via ETFs, corporate treasuries and convertible bonds. 



As access improves, Bitcoin's correlation to fiat liquidity deepens, setting the stage for a wave of new capital.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45076518/bitcoin-is-a-commodity-like-gold-says-commerce-secretary-lutnick">Bitcoin Is A Commodity Like Gold, Says Commerce Secretary Lutnick</a>



Why It Matters: A key signal is the average cost of production for Bitcoin miners, a historical bottom marker that successfully called six previous BTC lows, is now signaling that the market has likely bottomed. 



Crypto analyst Giovanni reinforced this view, noting that his hash rate valuation model also shows BTC at strong support.



On-chain data further supports this thesis. 



Long-term holders added 150,000 BTC over the past month, suggesting conviction is growing. 



When seasoned holders accumulate during price weakness, it often precedes supply squeezes and rapid upside.



Additionally, previously dormant coins are beginning to move, a classic sign of renewed market activity. This dynamic, combined with limited new supply and growing demand, strengthens the case for a sustained upward breakout.



What's Next: With macro tailwinds, bullish on-chain behaviour, and historical indicators aligning, analysts believe Bitcoin could be on the verge of a new bull run. 



Whether this momentum continues may hinge on upcoming macro data and investor sentiment heading into summer.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45112881/sell-bitcoin-ethereum-xrp-in-may-and-go-away-dont-be-so-sure-in-2025-expert-says">Sell Bitcoin, Ethereum, XRP In May And Go Away? Don&#8217;t Be So Sure In 2025, Expert Says</a></li>
</ul>



Image: Shutterstock

Bitcoin Up 25% From Tariff Lows: Here's THe Case For New All-Time Highs Soon

L1 network Sui is in the flush of a bullish trend. Its native SUI token has delivered gains of more than 50% for the month-to-date, making it one of the best performers amongst top-10 tokens. In one 24-hour period this week, trading volumes surged by more than 30%.



What's rekindled investor interest? Recent events like the soft launch of a Bitcoin-linked Sui asset called sBTC may have helped. Asset manager 21 Shares also announced this week that it plans to launch a SUI ETF – just days after Grayscale unveiled its Sui Trust for accredited investors. Sui&#8217;s May token unlock also breaks today, releasing 88.3 million SUI tokens worth an estimated $317 million.



Underpinning everything, however, is Sui's unique approach to decentralized applications (dApps). The L1's architecture allows developers to blend the benefits of Web3 with the simplicity of Web2, weaving in familiar ecommerce onboarding steps that make DeFi services easier to use.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/02065754/SUI_1M_graph_coinmarketcap-1024x683.png" alt="" class="wp-image-12071" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/02065754/SUI_1M_graph_coinmarketcap-1024x683.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/02065754/SUI_1M_graph_coinmarketcap-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/02065754/SUI_1M_graph_coinmarketcap-768x512.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/02065754/SUI_1M_graph_coinmarketcap.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">SUI&#8217;s 1-month trajectory &#x7C; Source: CoinMarketCap</figcaption></figure>



Five dApps account for the lion's share of network TVL, but investors are betting Sui's competitive advantage will make it bigger than the sum of its parts. These are the dApps Sui users are currently flocking to.



<h1 class="wp-block-heading">Suilend</h1>



Sui's number one dApp by TVL is Suilend, a crypto lending platform. It achieved a TVL of $200 million six-months after launch.



Aiming to fend off close-competitor NAVI Protocol, Suilend is now building a liquid staking protocol called SpringSui, alongside a reported Sui-based NFT project. In December 2024 the project launched its own native token called SEND. TVL at time of writing was $399 million.



<h1 class="wp-block-heading">NAVI Protocol</h1>



Sui's number two dApp is NAVI Protocol, another crypto lending and liquid staking service. The Project&#8217;s ambition is to become the go-to lending and borrowing platform for <a href="https://move-book.com/">Move</a>-based smart contract platforms.



Only available on Sui, NAVI acquired liquid staking service provider Volo last year and launched a governance token called NAVX. Since launch, NAVX's market cap has grown to almost $25 million. NAVI's overall TVL currently sits at $347 million.



<h1 class="wp-block-heading">Cetus Protocol</h1>



Number three Cetus Protocol is a decentralized exchange (DEX) geared to the requirements of Move-based smart contract blockchains. The platform uses a concentrated liquidity protocol that lets liquidity providers improve trading efficiency by deploying liquidity within a set price range.



The protocol's native token is CETUS, used primarily to incentivize liquidity providers to supply tokens on the network. Users can stake their CETUS tokens to obtain a non-transferrable governance token called xCETUS.



<h1 class="wp-block-heading">Scallop Lend</h1>



In fourth place is <a href="https://scallop.io/">Scallop Lend</a>, a decentralized lending and borrowing platform that allows users to tokenize debt in the form of Scallop Market Coins or sCoins.



Scallop Lend's SCA utility token is used mainly to encourage  liquidity. Users can lock their SCA tokens and receive a governance token called veSCA. It&#8217;s current TVL is over $150 million.



<h1 class="wp-block-heading">Haedal</h1>



Number five Sui dApp Haedal is a liquid staking protocol that allows traders to use their SUI tokens to gain yields and take part in the governance and ongoing decentralization of the Sui blockchain.



The protocol's yield-bearing token is called haToken. It is minted when users stake SUI or WAL (native token of the Walrus Protocol, another Sui dApp) using Haedal's liquid staking infra. It represents the user's ownership and share of Haedal's total liquid staking value.



After staking, users also receive Haedal staked SUI (haSUI) which are minted as receipt tokens that can be used as liquidity in various governance activities, as well as an instrument to earn additional yields.



Haedal is on the up. At time of writing its TVL was over $144.5 million, rising nearly 8% over the previous seven days, while its recently launched <a href="https://www.haedal.xyz/vault">haeVault</a> DeFi vault passed the $6 million TVL milestone on March 31st.



<h1 class="wp-block-heading">The takeaway</h1>



Originally hyped as ‘the next Solana' before investor enthusiasm waned, Sui re-emerged this month as a capital inflow magnet.



Last year its TVL ballooned from $59 million to over $1.1 billion, while the price of SUI surged more than 400%. Figures from DeFiLlama put its current TVL at $1.23 billion — and the <a href="https://defillama.com/chain/Sui">direction of travel</a> points to further gains.



With ongoing institutional adoption and steady expansion of the Sui dApps ecosystem, the L1's outlook looks upbeat. As the network's monthly token unlock schedule rolls out in 2025, look for signals of&nbsp; further network growth and potential upside for its utility token.

Sui Is On The Ascent. What's Driving Interest?

<a href="https://www.benzinga.com/content/44959779/aptos-logs-133k-wallets-558k-transactions-in-osaka-expo-week-one-is-adoption">Aptos</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">APT</a>) is expanding its scope beyond traditional crypto verticals like DeFi and NFTs, with a growing focus on real-world consumer applications, particularly in payments, HR systems and micro-credit.



That's according to Ash Pampati, Head of Ecosystem at the Aptos Foundation, who spoke in an interview with Benzinga about where the Layer 1 network is aiming to differentiate itself.



"We feel there are two evergreen areas that will last forever: trading and payments," Pampati said. 



While trading spans both crypto-native and traditional assets, Pampati emphasized the potential of blockchain to fundamentally reshape how money moves and how services are built for consumers around the world.



"You can open up micro-streaming payments, remittance, cross-border transfers," he said. "We're already seeing founders build native HR payroll software fully on-chain or extend credit networks to emerging markets." 



He added that such applications are not just rebrands of legacy models, but entirely new structures only feasible because of on-chain architecture.



In addition to payments and credit, Aptos is increasingly focused on decentralized infrastructure, particularly where it can solve longstanding Web2 data bottlenecks. 



Pampati said one of the biggest barriers to blockchain adoption in areas like social media and content streaming is the lack of usable, composable data. "We're working on how to unlock that data so big networks or dApps can actually be fully powered on-chain."



This product-oriented vision comes as Aptos pushes to carve out competitive territory in a landscape increasingly dominated by Ethereum L2s, modular blockchains and fast-rising alternatives like Solana.



According to Pampati, Aptos's architecture allows it to handle enterprise-grade performance requirements and consumer-grade user experience expectations simultaneously.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45138065/uae-sets-global-benchmark-for-crypto-banking-integration-amina-banks-rohan-misra-says">UAE Sets Global Benchmark For Crypto-Banking Integration, Amina Bank&#8217;s Rohan Misra Says</a>



"When you have the fastest, most performant, high throughput L1 integrating a stablecoin, you automatically have the cheapest and most efficient dollar on the internet," he said, referencing Aptos's integration with the Hong Kong dollar (e-HKD) and support for other stablecoins like USDC.



The foundation's efforts are also gaining traction in the real-world asset (RWA) sector. 



Pampati noted that Aptos currently ranks among the top four chains by RWA total value locked (TVL), even ahead of Solana in that category. 



"What we're really focused on is the utilization of those assets in native Web3 use cases," he said, adding that Aptos plans to onboard Aave, one of the largest DeFi money markets, in the coming months, its first expansion beyond EVM chains.



While many blockchains position themselves as general-purpose networks, Aptos is explicitly focused on long-term adoption scenarios where billions of users could eventually be onboarded. 



"We've had 99% uptime since launch. Our CEO and founding team are obsessed with performance. They built blockchain systems at Meta to support billion-user apps," Pampati said.



He added that the network's focus on reliability is critical to standing out. "We're here for the future. Institutions have signaled they trust us, the network and the team. That kind of equity takes time to build."



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45137825/bondex-acquires-web3career-to-build-end-to-end-web3-hiring-platform">Bondex Acquires Web3.Career To Build End-To-End Web3 Hiring Platform</a></li>
</ul>



Image: Shutterstock

Aptos Eyes Real-World Utility Beyond NFTs And DeFi, Says Ecosystem Head Ash Pampati

A new report on sentiment in the crypto sector indicates that the market recovery has not had an equal impact on all cryptocurrencies, but retail excitement is rising and <a href="https://www.benzinga.com/money/bitcoin-price-prediction">risk appetite growing.</a>



What Happened: In a detailed <a href="https://x.com/santimentfeed/status/1918053170204570045">post</a> on X on May 2, on-chain analytics provider Santiment shared how Bitcoin's rebound to the $94,000–$96,000 range has reignited market-wide enthusiasm. 



Total crypto market capitalization has jumped 10% in the final eight days of April, driven by retail momentum.



However, Bitcoin's modest 7% gain over that period suggests capital is rotating into altcoins and meme coins, a classic risk-on signal often seen during the late stages of crypto rallies. 



This pattern echoes post-FTX recoveries, where Bitcoin leads early, then stalls as traders chase bigger gains in speculative names.



Santiment warns that while ETF narratives may prolong the rally, sentiment-fueled surges often reverse sharply. 



"Greed-driven markets can create several short-term gains to test your resolve in profit taking," the report cautioned, highlighting overconfidence can quickly become a liability.



As the market enters May, the key question is whether altcoins can sustain the momentum or if this is just another hype-driven spike destined to fade.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45076518/bitcoin-is-a-commodity-like-gold-says-commerce-secretary-lutnick">Bitcoin Is A Commodity Like Gold, Says Commerce Secretary Lutnick</a>



Why It Matters: Santiment points to key asset narratives highlighting the crypto market's changing sentiments towards them.



<ul>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>): It has rebounded sharply after early-April bearish sentiment, flipping social sentiment from fear to renewed fear of missing out. Now making up 25% of crypto discussions, with more positive commentary than negative.</li>



<li>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>): While lagging in price and attention, sentiment is turning bullish, aided by KOL support and renewed commentary from Vitalik Buterin. ETH's social dominance remains low (6–7%), down from historical norms near 10%.</li>



<li>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>): Traders are increasingly bullish due to rising odds (85%) of an XRP spot ETF approval. Despite a price dip, optimism remains strong, fueled by institutional interest and ETF expectations. Grayscale and Bitwise have lined up to launch XRP-based funds attracting significant interest in the altcoin.</li>



<li>BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>): After strong gains in Feb–Mar due to Binance's support and Trump-related rumors, excitement has waned. Social buzz is down, but a new Trump–CZ partnership could revive attention.</li>



<li>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>): Underperformed in price and interest over the last three months. Despite brief spikes, possibly amplified by bots, overall attention is fading. Still, talk of a SOL ETF and bullish market positioning keep it in the spotlight. The asset is currently taking up about 4.4% of all crypto discussions but was hovering at between 6–7% back in January and February.</li>



<li>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>): ETF filings from 21Shares and Bitwise have significantly boosted sentiment and legitimacy. Nasdaq filed a key document with the SEC to list the 21Shares Dogecoin ETF, marking an important step in mainstream adoption. Social dominance hit a 3-month high, with whale accumulation and bullish momentum building.</li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45112881/sell-bitcoin-ethereum-xrp-in-may-and-go-away-dont-be-so-sure-in-2025-expert-says">Sell Bitcoin, Ethereum, XRP In May And Go Away? Don&#8217;t Be So Sure In 2025, Expert Says</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Sentiment Rebounds As BTC Hits $97,000

Eric Trump, the executive vice president of The Trump Organization, said that the Trump family-backed stablecoin USD1 has been chosen to close Abu Dhabi investment firm MGX's $2 billion deal with cryptocurrency exchange Binance.&nbsp;



What happened: President Donald Trump's second son made the announcement at the Token2049 cryptocurrency conference in Dubai, Coindesk <a href="https://www.coindesk.com/business/2025/05/01/world-liberty-s-stablecoin-will-be-used-to-close-mgx-s-usd2b-binance-investment-eric-trump">reported </a>Thursday.



The deal relates to the $2 billion investment by MGX into Binance, which gives it a <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44281794/binance-secures-2-billion-investment-from-abu-dhabi-mgx">minority stake</a> in the world&#8217;s largest cryptocurrency trading platform. It was indicated earlier that the deal would be executed in stablecoins.



Eric Trump also announced that USD1 will be integrated with the Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) ecosystem. Interestingly, Tron founder Justin Sun is a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">leading investor and advisor</a> at World Liberty Financial, the decentralized finance platform behind the stablecoin.



"USD1 will become one of the most transparent and regulated stablecoins in the world," Eric Trump was quoted as saying.



World Liber co-founder Zach Witkoff, who was also present at the event, stated that the aim was to position USD1 as the go-to stablecoin in both centralized and decentralized finance.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45125478/nayib-bukele-led-el-salvador-will-continue-to-buy-bitcoin-says-minister-on-imf-requirement">El Salvador Committed To Buy Bitcoin Despite IMF Requirement, Says Minister— &#8216;Important Project&#8217; Started By Nayib Bukele</a>



Why It Matters: World Liberty Financial, backed by the Trumps, has focused on promoting dollar-backed stablecoins and decentralized finance applications.



It <a href="https://www.benzinga.com/25/03/44475966/trump-backed-world-liberty-financial-confirms-dollar-stablecoin-plans-with-bitgo">launched USD1</a> on Ethereum and BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) in March, which will be fully backed by U.S. treasuries, cash deposits, and cash equivalents.



World Liberty Financial was introduced last year to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">allow users to borrow</a>, lend, and earn interest on funds through the DeFi route.&nbsp;



The project is inspired by Donald Trump, although the disclaimer states that none of its offerings are political or related to any political campaign.



A Trump-affiliated organization holds a 60% share in the platform&#8217;s parent firm, while his son Eric sits on the board.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/05/45127052/el-erians-monthly-asset-performance-table-highlights-oils-20-loss-bitcoin-and-golds-gain">Bitcoin, Gold Shine In April While Stocks, Oil Suffer— Mohamed El-Erian Flags Diverging Market Trends</a></li>
</ul>



Photo Courtesy: Kirill Aleksandrovich On Shutterstock.com

Eric Trump Says World Liberty's Stablecoin Will Be Used To Close A $2 Billion Deal — Dollar Token To Also Get Integrated With Justin Sun's Tron Blockchain

Freight Technologies Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRGT#NASDAQ">FRGT</a>) has become the first public company to adopt the Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) meme coin as a treasury reserve asset, as announced on Wednesday.



What Happened: The logistics management firm&nbsp;agreed to the issuance of convertible&nbsp;notes&nbsp;up to $20 million&nbsp;with an institutional investor, according to a press release. The proceeds from this financing will be &#8220;exclusively&#8221; allocated for purchasing TRUMP tokens.



Freight Technologies plans to issue notes amounting to $1 million in the first tranche, with an&nbsp;additional capacity of up to&nbsp;$19 million available in&nbsp;subsequent drawdowns.



&#8220;We believe that the addition of the Official Trump tokens is an excellent way to diversify our crypto treasury and also an effective way to advocate for fair, balanced, and free trade between Mexico and the U.S.,&#8221; said CEO Javier Selgas.



See Also:&nbsp;<a href="https://benzinga.com/25/05/45158116/jack-dorsey-upbeat-on-blocks-bitcoin-mining-chip-delivery-in-h2-2025-as-industry-faces-disruptions-due-to-high-ch" target="_blank" rel="noreferrer noopener">Jack Dorsey Upbeat On Block&#8217;s Bitcoin Mining Chip Delivery In H2 2025, Sees &#8216;Huge Opportunity&#8217; As China Tariffs Disruption Looms</a>



Why It Matters: The decision comes against the backdrop of President Donald Trump&#8217;s new trade policy, as part of which he imposed a <a href="https://www.benzinga.com/news/global/25/02/43926015/trump-confirms-tariffs-on-canada-mexico-will-take-effect-as-planned">25% tariff on all imports from Mexico and Canada</a> that are not covered under the region&#8217;s U.S.-Mexico-Canada trade pact. 



Freight Technologies is particularly known for cross-border shipping between the U.S. and Mexico.



Meanwhile, TRUMP has been in the news after the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45027557/trumps-memecoin-dinner-event-sparks-impeachment-call-from-democratic-senator-says-potus-is-selling-access-to-those-who-enrich-him">top holders of the coin were invited to an exclusive dinner</a> with Trump. The news sparked a buying frenzy but also attracted criticism, with one Democratic lawmaker labeling it an impeachable offense



Price Action: At the time of writing, TRUMP was exchanging hands at $12.50, down 4.73% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The meme coin, launched before Trump&#8217;s presidential inauguration, was down 83% from its all-time highs.



Shares of Freight Technologies were down 3.53% in after-hours trading, after plunging 20% to $0.9848 on Thursday.



As of this writing, the stock was ranked lower in terms of momentum, a measure of an asset&#8217;s relative strength based on price movement patterns and volatility across several timeframes. To find high-momentum stocks, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.



Photo Courtesy: Kirill Aleksandrovich On Shutterstock.com



Read Next:&nbsp;



<ul>
<li><a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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