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  • Solana lacks ‘convincing signs’ of besting Ethereum: Sygnum
    by Jesse Coghlan on May 9, 2025 at 6:22 am

    Crypto banking group Sygnum says it doesn’t expect Solana to beat Ethereum in the medium term, partly due to the blockchain’s revenues being too tied to memecoins. Solana does not yet have “convincing signs” that it could overtake Ethereum as the blockchain of choice for institutions, as its revenue is seen as unstable due to its memecoin concentration, according to crypto bank group Sygnum.In a May 8 blog post, Sygnum said that the current sentiment around Ethereum “remains poor,” with the market focused on Solana’s “transaction volumes and its recent dominance in fee generation.”However, Sygnum said “the medium-term outlook will primarily be shaped by traditional financial institutions’ platform choices to bring their product offerings,” not by sentiment.Read more

  • Bitcoin accepted at fast food chain Steak ’n Shake from May 16
    by Martin Young on May 9, 2025 at 6:19 am

    Diners will soon be able to pay for their steaks with satoshis at the American fast food outlet. American fast food outlet Steak ‘n Shake has announced it will begin accepting Bitcoin as payment at all locations starting on May 16.The firm said on X on May 9 that it was making the cryptocurrency available to more than 100 million customers, adding that “the movement is just beginning,” before signing off as “Steaktoshi.” The fast food chain initially hinted at accepting Bitcoin (BTC) in March when it posted “Should Steak ‘n Shake accept Bitcoin?” on social media. Read more

  • Metaplanet is raising another $21M through bonds to buy more Bitcoin
    by Stephen Katte on May 9, 2025 at 6:18 am

    Metaplanet only just spent $53.4 million acquiring 555 Bitcoin at an average price of $96,134 on May 7, bringing its total stash to 5,555. Fresh off its most recent Bitcoin purchase, Japanese investment firm Metaplanet is raising more funds through another bond issue to expand its growing crypto treasury.Through a $21.25 million issue of “0% Ordinary Bonds,” all the “funds raised will be allocated to the purchase of Bitcoin,” the firm said in a May 9 statement. Zero-coupon bonds don’t offer any interest to the holder. Most of the time, they are issued at a steep discount from their normal value, and when they mature, the holder receives the full value.Read more

  • Ether clocks ‘insane’ 20% candle post Pectra — a turning point?
    by Ciaran Lyons on May 9, 2025 at 6:01 am

    Ether has surged following the Pectra hard fork, with analysts suggesting a growing number of long positions could signal a turnaround for the asset. Ether surged 20% in the past 24 hours following the launch of the Pectra upgrade, with some crypto traders suggesting the growing number of ETH long positions could mark a “turning point” for the asset that has faced uncertain sentiment throughout most of 2025.At the time of publication, Ether (ETH) is trading at $2,230, up 19.6% over the past 24 hours, according to CoinMarketCap data. Pseudonymous crypto trader Daan Crypto Trades said it was a “pretty insane candle.” Over the same 24 hours, Ether Open Interest (OI) spiked 21%. The surge followed the long-awaited Pectra Upgrade, which went live on May 7, introducing new wallet features, increased staking limits and scalability improvements to Ethereum. Read more

  • AI decentralized apps are coming for the Web3 throne: DappRadar
    by Stephen Katte on May 9, 2025 at 5:27 am

    Gaming and decentralized finance have long held the top spot in the DApp ecosystem, but AI is gaining speed to give these sectors a run for their money. AI decentralized apps (DApps) have seen a spike in user activity and could soon challenge gaming and DeFi for the top spot in the DApp ecosystem, according to blockchain analytics platform DappRadar.Gaming and DeFi are both sitting on 21% dominance in April, judged by percentage of unique active wallets, while AI has climbed to 16%, up from the 11% recorded in the February report, data in DappRadar’s April industry report shows.“As user interest in artificial intelligence tools grows across industries, AI-powered DApps are steadily carving out their place in the decentralized ecosystem,” DappRadar analyst Sara Gherghelas said. Read more