Some important news about the current cryptocurrency market:

General Market:
* The total value of the cryptocurrency market is $3.21 trillion, showing a 12.25% increase compared to the previous week. The trading volume in the last 24 hours is also up 0.86%.
Bitcoin (BTC):
* Bitcoin is currently trading at around $102,974.74. Although it is down 2% in the last 24 hours, it is up 8% compared to the previous week.
* MicroStrategy added $2.1 billion worth of Bitcoin to its balance sheet, bringing its total Bitcoin holdings to around $41 billion.
* Analysts believe that the uptrend for Bitcoin is not over yet, as institutional investors continue to show interest.
* Some analysts warn that there could be short-term "technical selling pressure" ahead of the US CPI data to be released on May 13.
Ethereum (ETH):
* Ethereum's market cap is over $303 billion. Trading volume increased by 11.43% in the last 24 hours.
* Ethereum outperformed Bitcoin by increasing by 42% in the last week.
Stablecoins:
* While the stablecoin sector experienced a slight decline, USDT's market value is approaching $150 billion.
* Democrats in the US Senate blocked a bill to regulate stablecoins over concerns that it did not include sufficient protections and could benefit Trump's crypto projects.
Other Altcoins:
* XRP increased by 10% in the crypto market as open interest exceeded $5 billion.
* Monero (XMR) rose by 317% as a major hack increased interest in privacy-focused coins.
Regulation and Law:
* Alex Mashinsky, founder of Celsius Network, sentenced to 12 years in prison on crypto fraud charges.
* Ripple CEO calls for rapid regulation in the US as stablecoins predict global growth.
* The US Office of the Comptroller of the Currency (OCC) has given banks the green light to engage in certain cryptocurrency activities.
Technology and Adoption:
* South Korea has asked Apple to block certain crypto exchange apps, following Google.
Other Notable Developments:
* American Bitcoin, a crypto mining project backed by Trump’s sons, has signed a merger agreement to list on NASDAQ.
* Healthcare company Kindly MD announced it will merge with Bitcoin investment firm Nakamoto Holdings.
* Steak ‘n Shake will allow 100 million customers to pay with Bitcoin next week.
* Almost all foreign trade between Russia and China is done in rubles and yuan, with the use of dollars decreasing.
#Trade Tensions Ease#
#Major Tax Cut Bill#