📅 May 14, 2025|Crypto Research Brief
Cryptocurrencies involve uncertainty and risk. You may lose your entire principal.
This report is for sharing purposes only and does not constitute investment advice. Please make investment decisions rationally.
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Total Market Cap: $3.5 Trillion (+1.1%)
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24H Trading Volume: $150.25 Billion
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Altcoin Season Index: 29
(Data sourced from CoinGecko)
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Market Cap of USD-Pegged Stablecoins: $245.3 B
二、SEC&ETF&Policy & Macro Analysis
Since mid-April, macro narratives have centered around four key themes:
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Trump’s shift in stance (softening tone and pushing forward trade negotiations)
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Rising expectations of a recession
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Concerns over re-inflation
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Federal Reserve policy outlook
Following the conclusion of the Geneva summit and the subsequent joint economic and trade statement, tariff and trade negotiations have temporarily receded from the spotlight.
April CPI Data Highlights
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The focus this time is on the month-over-month (MoM) data, which came in at **0.2%**, matching the Cleveland Fed’s forecast.
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A significant drop in energy prices helped offset inflation in new/used cars and food. This is likely a major reason why year-over-year (YoY) CPI met expectations while MoM CPI came in slightly lower than expected.
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Real income MoM fell by -0.1%, significantly below the previous figure. Since real income reflects the total earnings individuals receive from wages, rents, dividends, and social benefits, it serves as a better gauge of actual purchasing power. This decline in real income is dragging down consumer spending. However, in my view, the main driver of this drop may be stock market correction effects.
Short-term outlook: Slightly bullish. Next focus is Thursday night’s PPI data.
⚠️ Reminder: Meme tokens are very volatile and not backed by fundamentals. Prices are driven by sentiment and may drop to zero. Please stay rational and assess your own risk before investing.
1.Abstract Chain is expected to conduct its TGE by the end of the year.
2.Virtuals Protocol Introduces VIRTUAL Staking Feature
3.Believe Ecosystem Token’s Total Market Cap Surpasses $260 Million, Platform Creates Over 3200 Tokens
4.SEC Seeks Feedback on BlackRock Bitcoin ETF Physical Redemption, Delays Grayscale Solana and Litecoin ETF Proposals
5.Cryptocurrency brokerage firm eToro has completed its IPO in the United States, raising nearly $3.1 billion
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X:https://x.com/believeapp
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Project Background
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👉 LaunchCoin 20x in One Day, How Did Believe Create a $200M Market Cap Gold Dog After Going to Zero? | 100x Retrospective
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KOL Review
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https://x.com/yuyue_chris/status/1922541237099495645
Pump.fun Sees Its First Breakdown
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Raydium’s LaunchLab Ecosystem Strikes Back
On May 13, on-chain data analyst Adam shared Dune dashboard data on X, showing that in the past 24 hours, Raydium’s token launch platform LaunchLab (including third-party platforms like Letsbonk.Fun built on LaunchLab) saw 198 tokens graduate — surpassing Pump.fun’s 171 graduated tokens during the same period.Adam commented that this marks the first time in history that Pump.fun has faced real competition.
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👉https://en.theblockbeats.news/news/58155