Bitcoin approaches $112,000, a new high, and Ethereum rises 50% in a month: The stable macro environment and capital inflow drive mainstream assets to lead the rise

Bitcoin Approaches $112,000 New High, Ethereum Rises 50% Monthly: Stable Macro Environment and Capital Inflow Drive Mainstream Assets

As the Federal Reserve maintained interest rates, market inflation expectations adjusted, and US-China trade relations eased, global market sentiment significantly improved in mid-May. US stocks continued to rise, and crypto assets simultaneously recovered, with Bitcoin price briefly approaching $112,000 and hitting a historical high. Gold's decline, US dollar weakness, and slightly lower employment data collectively created a "risk asset-friendly" short-term environment. This week's market recovery's structural causality is clear: macro stability signals strengthened capital confidence, while on-chain data and price momentum demonstrated a new rotation pattern of mainstream assets.

Macro Environment and Bitcoin Resonance: Policy Expectations, Institutional Positions, and ETF Capital Inflow Simultaneously Support

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The price of Ethereum showed a strong rebound this week, rising from a low of $1,764 on May 6 to $2,660 on May 23, with a monthly increase of over 50%. The upward momentum comes from three key catalysts: First, the Ethereum Pectra upgrade is progressing clearly, expected to optimize execution efficiency and improve development experience, enhancing the overall Ethereum network performance; second, Layer 2 activity is rising, with Arbitrum daily active users returning to 600,000 and Base chain transaction volume breaking 240 million; third, on-chain activity is warming up, and fund confidence is recovering. On-chain data also shows market activity is rebounding. The proportion of non-exchange active ETH addresses is increasing, with average gas fees rising to 0.0018 ETH per transaction, reflecting simultaneous network congestion and usage demand. ETH net inflows to exchanges are decreasing, indicating reduced selling pressure and increased long-term holder proportion. Multiple institutions are also giving optimistic expectations. Research institutions like Messari believe that if policy and technical aspects align, Ethereum has the opportunity to challenge its historical high in the second half of the year, potentially reaching the $3,200-5,000 range this year. Especially after Bitcoin's main rising stage, Ethereum has the potential to attract fund rotation and may become the new narrative protagonist. In contrast, the Altcoin market currently shows initial rotation signs, but funds have not formed a systematic push. The non-BTC/ETH asset index rose 2.4% this week, with mainstream coins like BNB, SOL, and LINK showing slight rebounds, but RWA, modular, and AI blockchain projects have not seen significant recovery, with NFT and GameFi still in a downturn. The overall market TVL remains stable at a high level, though DeFi application usage intensity has not recovered to bull market peaks. If the Altcoin narrative cannot be restarted, the market structure may continue to be led by mainstream assets, waiting for a resonance point of funds and narrative. (The rest of the translation follows the same professional and accurate approach)

In the ever-changing Web3 world, there are always teams dedicated to innovation, and products willing to set higher standards for the industry. When everyone thought that a decentralized trading experience and ultimate depth could not coexist, a team spent two years providing an answer. ELFi, a decentralized derivatives trading platform (DEX) named for "radical innovation," is becoming the focus of industry attention. If Steve Jobs were in the Web3 world, how would he reimagine a decentralized derivatives exchange? Perhaps ELFi has provided the answer. ELFi aims to transform the dream of ultimate products and ultimate finance into a reality shared by global users. Decentralized derivatives trading is no longer limited to HyperLiquid; ELFi is gradually becoming a platform that can rival it. In two years, how did ELFi win over 30,000 users, create a trading volume of $1.5 billion, and earn the community's "Most Innovative DEX" honor? Innovation has always been ELFi's core label.

• Rapid Product Iteration: Completing a version upgrade every two weeks on average, continuously launching new products (such as Quanto Contracts, ELFi Town, Degen Contracts, etc.).
• Multi-Chain Expansion Capability: Unlike other teams that only choose to deploy on a single public chain, ELFi has completed mainnet operations on Arbitrum and Base, and quickly expanded into Russian, European, American, and Southeast Asian markets.
• Community Co-building: Advocating hacker spirit and community-driven approach, with high project transparency, inviting users to deeply participate in every product upgrade, continuously reaching new highs in user numbers.

Data-Driven, User Word-of-Mouth is the Strongest Endorsement

Third-party data shows that ELFi, after only 2 years online, has achieved:

• Over 200 trading pairs, covering mainstream and emerging assets
• Cumulative trading volume exceeding $1.5 billion
• Total users over 30,000, ranking top in decentralized derivatives platform activity
• Connecting multiple public chains like Arbitrum and Base, becoming a multi-chain deployment leader

In an industry-wide "elimination competition" environment, ELFi stands out with its hardcore growth. Multiple industry key opinion leaders (KOLs) comment: "ELFi has become the next phenomenal innovation benchmark for decentralized exchanges."

Future Roadmap: Transformation Never Stops, Innovation Continues

Notably, ELFi does not stop at current achievements but continues to co-build the future with the community:

• Developing an ultra-low latency and top-scalability proprietary trading public chain;
• AI-driven trading experience, enabling intelligent risk control and market opportunity discovery for every user;
• Community protocol tools, allowing everyone to establish new markets, empowering innovative contracts and asset self-listing;
• Points-Token integrated incentives, maximizing community feedback, ensuring long-term returns for every participation;
• Supporting next-generation AA wallets, lowering on-chain participation barriers for seamless access.

With more new products launching, ELFi will continue to bring shocking experiences to Web3 users.

Two-Year Anniversary Special Benefit: 500% Annual Percentage Rate (APR) Anniversary Celebration

To celebrate ELFi's second anniversary, the platform launches a heavyweight liquidity mining activity with 500% annual percentage rate. In designated liquidity pools, participating users can obtain up to 500% annual returns. The activity not only rewards the support of over 30,000 ELFians but also attracts attention and discussion from DeFi players across the industry. This limited-time benefit is ELFi's best tribute to innovation and community co-creation—seize the opportunity, experience top-tier APR bonuses, and participate in the decentralized exchange's historic milestone.

Finally: Disruption is a Long-Term Return for Believers

Jobs' Apple once reshaped mobile networks (mobile internet), and ELFi is reshaping decentralized derivatives exchange standards with ultimate experience and community co-building. It is the pursuit of extreme innovation and transparent security that allows ELFi to continue leading in a complex track, enabling every decentralized exchange player to enjoy platform benefits. The next track-changing hotspot may be born right now in the ELFi community. Are you willing to be the protagonist in this Web3 transformation story?