Daily Market Report – May 13, 2025
The cryptocurrency market cooled off today following recent gains, with both major assets pulling back. Bitcoin (BTC) fell 1.66% to $103,984.14 after trading between $100,806.76 and $105,794.84. Ethereum (ETH) dropped 2.70% to $2,447.85, moving within a range of $2,413.08 to $2,622.30. Futures liquidations totaled $116.11 million, signaling elevated short-term volatility. Despite the pullback, sentiment remained strong, with the Fear & Greed Index holding at 71, well within the “Greed” zone. Long/short ratios stayed relatively neutral, with BTC longs at 49.39% and ETH longs at 49.19%, suggesting cautious recalibration by traders.
Among top-performing altcoins, SPACEXR posted a massive 424.28% gain, followed by SKYAI up 30.31%, and BDT gaining 16.24%. Meanwhile, total value locked (TVL) across all chains slipped slightly to $116.111 billion, down from recent highs.
Project developments continued to make headlines. LetsBonk launched the token IKUN, which quickly hit a market cap of $10 million before settling at $9.3 million. In just two weeks, LetsBonk has generated nearly $2 million in total revenue and minted over 26,000 tokens, showcasing rapid community-driven growth.
On the institutional front, PREH, a U.S.-based real estate asset management firm, announced a $100 million tokenized fund backed by institutional investors. In the Middle East, Dubai signed a landmark agreement with Crypto.com, aiming to make the emirate one of the first governments globally to fully support cryptocurrency payments for public services.
In regulatory developments, Paul Atkins, Chairman of the U.S. SEC, confirmed that new cryptocurrency standards will be developed, laying the foundation for clearer market oversight. Meanwhile, Pumpfun unveiled a new creator revenue-sharing mechanism, allowing token creators to receive 50% of trading fees on the PumpSwap platform—an initiative that could reshape monetization models in the meme and community coin space.
Michael Crag
