Bitcoin Reaches $112K Amid Institutional Demand
In May 2025, Bitcoin achieved a remarkable milestone, soaring to an all-time high of $112,000. This surge was primarily driven by significant institutional interest and renewed corporate investments. Starting the month at $94,000, Bitcoin peaked on May 22 before experiencing a pullback to $104,500 as traders took profits. A notable contributor to this rise was the Trump Media & Technology Group, which announced intentions to raise $2.5 billion to establish a substantial public Bitcoin treasury. Concurrently, Bitcoin exchange-traded funds (ETFs) attracted $5.2 billion in net inflows during the month, increasing total cumulative inflows to $44.3 billion.
Bitcoin Dominance Grows Amid Altcoin Struggles
Despite Bitcoin’s impressive rally, alternative cryptocurrencies struggled to gain traction. Bitcoin’s market dominance surged to 65%, indicating a strong concentration of capital within Bitcoin and limited investment in altcoins. Technical analysis suggests that this dominance trend is likely to continue, with no indications of a reversal. Current market conditions remain favorable for Bitcoin, sidelining smaller cryptocurrencies and postponing the anticipated altcoin season.
Ethereum’s Pectra Upgrade Boosts Network Performance
On May 7, Ethereum implemented its Pectra upgrade at Epoch 364032, introducing significant enhancements to its execution and consensus layers. This upgrade merged the Prague and Electra layers, aiming to improve the scalability, security, efficiency, and overall user experience of the Ethereum network.
AI Agent Sector Gains Traction with Innovative Protocols
As the cryptocurrency market enters a calmer phase in 2025, the AI Agent sector is quietly gaining momentum. CoinEx released a research report titled “The Second-Half of AI Agent: The Force Awakens,” focusing on the rapid advancements in this area. Innovations like Model Context Protocols (MCPs) are paving the way for more intelligent blockchain applications by allowing large language models to access and interpret on-chain data. Emerging projects such as ElizaOS and Virtuals Protocol are at the forefront, experimenting with smart infrastructure for blockchain-native applications. This review delves into these pioneering projects and their potential impact on the future of on-chain AI agents.
Believe Ecosystem: Rapid Growth Followed by Adjustment
The Believe launchpad on Solana made headlines on May 13 with an explosive increase in token launches, exceeding 500 launches per day and reaching a peak trading volume of $700 million. However, following this rapid growth, the platform’s launch model faced scrutiny, resulting in a decline in its business metrics. Currently, Believe is undergoing enhancements and iterations, suggesting a promising future for the platform.
Declining Stablecoin Inflows Raise Market Concerns
Despite Bitcoin’s impressive price gains, a concerning trend has emerged: stablecoin inflows have decreased for two consecutive months. This is particularly notable when compared to previous bull runs, such as in November, when capital inflows into stablecoins surged alongside rising prices.
Market Outlook for June: Key Developments to Watch
As the cryptocurrency market transitions into June, investors are keenly observing several factors: Bitcoin’s retest performance, the effects of Ethereum’s recent upgrade, and ongoing developments in U.S. cryptocurrency regulations, particularly regarding stablecoins. Additionally, the evolution of AI protocols and the performance of altcoins will play crucial roles in determining whether the momentum from May continues or signals a local peak.
About CoinEx
Founded in 2017, CoinEx is a global cryptocurrency exchange tailored to meet user needs. Launched by the prominent mining pool ViaBTC, CoinEx was among the first exchanges to implement proof-of-reserves, ensuring the safety of 100% of user assets. The platform supports over 1,300 cryptocurrencies and offers professional-grade features and services to more than 10 million users across over 200 countries. CoinEx also features its native token, CET, designed to incentivize user engagement and enhance its ecosystem.
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