The market share of stablecoins (such as USDT) slightly increased, reflecting a stage of cautious and conservative fund allocation; the DeFi and Non-Fungible Token markets continue to be weak, with multi-chain Total Value Locked (TVL) dropping 27.5% from the previous quarter. Although the total market value has fallen to $2.8 trillion after peaking in January, Bitcoin's dominance increased by 4.6% in Q1, reaching 59.1%, indicating that fund rotation still favors core assets.
ETH price saw a significant rebound this week, rising sharply from last month's low of $1,386 and reaching $2,516 on May 12, with a monthly increase of over 80%. This rally was primarily driven by Bitcoin leading the market recovery, the upcoming Ethereum Pectra upgrade, the approaching Ethereum 10th anniversary, and fund rotation into low-positioned assets. Although its Q1 performance was relatively sluggish, the recent technical rebound shows that the performance gap between mainstream assets is gradually narrowing, and market sentiment is beginning to return to non-Bitcoin narratives.
Market Structure and Outlook: Strategic Anchoring during Oscillation and Consolidation Period
In summary, the market saw a significant rebound this week under the dual background of ETF fund inflows and stable policy tone, with price and sentiment indicators simultaneously recovering. However, on-chain and derivatives structures still reflect limited short-term momentum, and investors remain cautious.
With the CPI inflation data to be released on May 13 and details of US-China trade negotiations, the market will encounter a new intersection of macro and policy signals. If inflation data shows controllable price pressure, market risk appetite may continue to recover, and crypto assets could extend the current rebound structure.
Overall, Bitcoin is gradually regaining market dominance with institutional fund support and friendly policy attitudes. Although the current price remains in an oscillation range, technical and funding aspects indicate that mainstream assets are brewing the next mid-term upward momentum.
Key points of subsequent observation include the continuity of ETF fund flows, changes in institutional positions and on-chain whale behaviors, whether macro data supports policy shifts, and whether non-Bitcoin narratives such as ETH, RWA, and AI blockchain projects can take over to drive market activity and further promote Altcoin overall growth.
As the market enters a strategic adjustment period, the next week will be a critical node for observing directional shifts and fund reallocation.
About BingX
Founded in 2018, BingX is a global leading cryptocurrency exchange providing diverse products and services including spot, derivatives, copy trading, and asset management for over 10 million global users. In 2024, BingX became an official partner of Chelsea Football Club, demonstrating its international brand layout.
The platform regularly provides price predictions for mainstream cryptocurrencies such as Bitcoin price prediction and ETH price prediction analysis, meeting the needs of users from beginners to professionals. BingX is committed to creating a trustworthy trading environment and providing innovative tools to enhance user trading capabilities.
BingX's official community gathers users from different backgrounds, providing daily market information, strategy analysis, and practical insights, while also sharing educational content and useful tools. Join now to watch the market, learn trading, and enjoy benefits.
BingX Traditional Chinese Official CommunityRisk Warning
Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
As a leading Web3 decentralized wallet, Bitget Wallet now fully supports Sei Network, further expanding its multi-chain integration capabilities, making it easier for global users to enter and use the Sei ecosystem. This move not only simplifies the on-chain user experience but also promotes Sei as an important role in the multi-chain world.
One-Stop Cross-Chain Trading and Sei Native Function Integration
Through this integration, users can now complete Sei native token transfers, instant trading, and price tracking within the Bitget Wallet. At the same time, through Bitget Wallet's powerful cross-chain infrastructure, users can bridge assets from mainstream public chains like Solana and BNB Chain to Sei, with Bitget Wallet supporting over 30 blockchains. All transactions are driven by the built-in Super DEX aggregator, connecting liquidity from over 130 chains, allowing users to trade and perform cross-chain operations safely on a single interface.
"We are excited to provide direct access to Sei through the Bitget Wallet," said Alvin Kan, COO of Bitget Wallet: "This not only expands user coverage for Sei, a rapidly growing Layer 1 chain, but also realizes our mission to make Web3 simpler, faster, and more valuable."
Sei is a Layer 1 blockchain that combines the advantages of Ethereum and Solana. It combines Ethereum's development ecosystem and network effects with Solana-like high efficiency and scalability. Sei can complete block finality confirmation within 400 milliseconds, making it one of the fastest public chains currently.
700,000 USD Ecological Incentive Plan "Sei Ecosystem Month" Launched
To coincide with this launch, the Sei Foundation announced the launch of the "Sei Ecosystem Month" activity, with a total amount of 700,000 USD, to promote Sei ecosystem development and user participation. The activity will launch a series of interactive tasks through the Bitget Wallet app, including trading competitions, exploration tasks, and new product experiences, comprehensively encouraging users to deeply understand Sei ecosystem applications.
Justin Barlow, Executive Director of the Sei Development Foundation, stated: "Expanding user reach and optimizing ecosystem access processes are our top priorities. This integration with Bitget Wallet significantly lowers the barrier for users to explore Sei ecosystem applications."
About Sei: High-Speed Blockchain, Innovating Ethereum Scaling Method
Sei is a Layer 1 public chain that integrates the advantages of Ethereum and Solana: it has both Ethereum's development standards and network effects, and Solana-level performance. Sei went live on the mainnet in 2023 and has processed billions of transactions, covering over 18 million wallet addresses. The V3 Giga update currently being tested in Devnet is expected to make Sei's performance 50 times that of existing EVM chains, providing a brand new scaling solution for the Ethereum ecosystem.
The plan is supported by well-known institutions such as Multicoin, Jump, and Coinbase Ventures.
For more information, please visit: https://www.sei.io/
About Bitget
Founded in 2018, Bitget is a world-leading cryptocurrency trading platform and Web 3 company. Currently, Bitget serves over 100 countries and regions, helping more than 45 million users achieve "smart" trading through leading copy trading services and various trading solutions. Bitget Wallet, formerly BitKeep, is a world-class multi-chain crypto wallet providing a series of Web3 solutions and interactive features, integrating wallet, Swap, NFT marketplace, DApp browser, etc. Bitget encourages individuals to embrace cryptocurrency through partnerships with trusted partners, including being the official cryptocurrency partner in East Asia, Southeast Asia, and Latin America for the top global professional football La Liga, and Olympic athlete partners such as wrestling world champion Buse Tosun Çavuşoğlu, boxing gold medalist Samet Gümüş, and national volleyball team member İlkin Aydın.
Bitget Official Website | X | Instagram
About Bitget Wallet
Bitget Wallet is a global leading one-stop Web3 wallet with over 60 million global users. The wallet offers various forms, including seed phrase wallets, keyless MPC wallets, AA smart contract wallets, and supports hardware wallet connections. It now supports over 100 mainstream public chains, hundreds of EVM chains, and over 500,000 crypto assets. As the best choice for users to discover new assets and capture new opportunities in the Web3 field, Bitget Wallet's product features cover Swap trading, smart quotes, Launchpad, inscriptions, NFT & DApp, earning, etc., and achieve free trading on over 50 chains by aggregating liquidity from hundreds of mainstream DEXs and cross-chain bridges. Bitget Wallet has established a systematic security system and provides a 300 million USD risk guarantee fund.
Bitget Wallet Official Website | X
Risk Warning
Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
