AICoin Daily Report (May 5)

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4 hours ago

1. Trump Claims Crypto Market is Stronger than Stock Market

2. Michael Saylor Hints at Buying More Bitcoin

3. Public Companies are Buying Bitcoin in Bulk

Public companies continuously purchasing Bitcoin to supplement their balance sheets may lead to "huge buying pressure." -Original

4. ETF Analyst Focuses on Litecoin ETF Application

ETF analyst James Seyffart: The Litecoin ETF application from @CanaryFunds will have a decision made by Monday, May 5 (may be postponed). The SEC has pre-approved and delayed many applications, but not this time. If there is any asset that has a chance of being approved early, in my opinion, it is Litecoin. I personally think the possibility of a delay is greater, but it is definitely worth watching. -Original

5. Musk Changes X Avatar to Meme Image

Musk changed the X avatar to a "gork" themed meme image. -Original

6. Binance Adjusts Multi-Currency Contract Leverage

According to an official announcement, Binance will adjust the leverage and margin levels of 10 USDⓈ-M perpetual contracts, including SXPUSDT and EGLDUSDT, on May 9, 2025, at 06:30 (UTC), and will adjust the parameters of 8 contracts, including 1000RATSUSDT and VANAUSDT, at 07:30 (UTC). Existing positions will be affected, and users are advised to adjust their strategies in advance. -Original

7. Gold-Backed Token Minting Volume Hits New Highs

The gold market is undergoing changes, with central bank purchases slowing down and demand for exchange-traded funds (ETFs) and gold-backed cryptocurrencies increasing. The latter recently reached a three-year high in terms of net minting volume. According to data from rwa.xyz, over $80 million worth of gold-backed tokens were minted in the past month. This growth has driven the industry's total market value up by 6%, reaching $1.43 billion. Meanwhile, monthly transfer volume surged by 77%, reaching $1.27 billion, marking a significant rebound in interest for digital representations of gold. The latest report from the World Gold Council shows that total gold demand reached 1,206 tons in the first quarter of this year, a 1% year-on-year increase, making it the strongest first quarter since 2016. Although central bank purchases slowed to 244 tons, down from 365 tons in the fourth quarter, demand remains strong. Gold ETFs have played a central role in this shift. Investment demand more than doubled to 552 tons, indicating that investors are turning to gold, a move historically dominated by central banks. These inflows have driven the average quarterly price of gold to a record $2,860 per ounce, a 38% year-on-year increase. However, gold prices fell by 2.35% last week, despite a 23.5% increase year-to-date. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com)

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