PA Daily | Ethereum's market value surpasses Alibaba; China-US trade talks have made substantial progress

Today's news tips:

China to suspend 24% tariff on US goods for 90 days, retaining remaining 10% tariff

Ethereum's market value surpasses Alibaba and ranks 39th in global asset market value

Chinese press conference: China-US high-level economic and trade talks made substantial progress and reached important consensus

Binance Alpha to List NEXPACE (NXPC)

Binance Alpha Launches PUFFER (PUFFER)

Hyperliquid 50x whales continue to increase their BTC short positions: a total of 1,000 BTC short positions were opened, and the liquidation price was $106,200

CoinShares: Last week, digital asset investment products had a net inflow of $882 million, and Bitcoin attracted $867 million in inflows

Viewpoint: If the US CPI data this week meets expectations, Bitcoin is expected to hit a new high

Regulatory/Macro

China to suspend 24% tariff on US goods for 90 days, retaining remaining 10% tariff

According to the Information Office of the Ministry of Commerce, China and the United States issued a joint statement during the economic and trade talks in Geneva, and both sides promised to take specific measures to ease economic and trade frictions before May 14, 2025. China will adjust the ad valorem tariffs imposed on US goods. Among them, 24% of the tariffs will be suspended for the first 90 days, while the remaining 10% tariffs on these goods will be retained, and the relevant additional tariffs stipulated in the Tax Committee Announcement No. 5 and No. 6 of 2025 will be canceled. In addition, China will also take necessary measures to suspend or cancel non-tariff countermeasures against the United States from April 2, 2025. At the same time, the United States also promised to adjust its ad valorem tariff policy on Chinese goods before May 14, 2025. Pursuant to Executive Order No. 14257 of April 2, 2025, the United States will suspend the implementation of the 24% tariff for 90 days, but retain the remaining 10% tariff, and at the same time cancel the tariffs imposed on Chinese goods pursuant to Executive Order No. 14259 of April 8, 2025 and No. 14266 of April 9, 2025.

Japanese listed company Beat Holdings announced that it will increase investment in Bitcoin spot ETF

According to Decrypt, listed company Beat Holdings Ltd. said on Thursday that it would increase its investment in Bitcoin-related ETFs, becoming the latest Tokyo-listed company to deepen its investment in digital assets amid a renewed institutional interest in cryptocurrencies. The company, listed on the Tokyo Stock Exchange Standard Market, disclosed on Thursday that its board of directors approved raising the upper limit of crypto-related investments from $6.8 million to $34 million. The company has purchased 131,230 shares of BlackRock's iShares Bitcoin Trust (IBIT) at an average price of $49.49 per share. The company said in a statement that given IBIT's closing price of $58.66 on May 9, Beat held unrealized gains of more than $681,000.

Japanese listed company MetaPlanet increased its holdings by 1,241 BTC, bringing its total holdings to 6,796

According to an official announcement, MetaPlanet, a Japanese listed company, announced that it has increased its holdings of 1,241 bitcoins, with an average purchase price of 14,848,061 yen, totaling 18.426 billion yen. After this purchase, the company's total bitcoin holdings increased to 6,796, with an average holding cost of 13,270,989 yen, and a total value of approximately 90.19 billion yen.

Ethereum's market value surpasses Alibaba and ranks 39th in global asset market value

According to 8marketcap data, Ethereum's market value surpassed Alibaba and rose to 39th place in the global asset market value ranking. Currently, Ethereum's market value is about 304.26 billion US dollars, and Alibaba's market value is about 303.72 billion US dollars.

South Korea’s Democratic Party is developing a cryptocurrency policy agenda and will announce details later

According to Money Today, the Democratic Party of Korea (DPK) said it is currently developing a cryptocurrency policy agenda and will announce the details later. The DPK revealed the news at a press conference introducing 10 policy initiatives for the upcoming presidential election. Lee Jae-myung, the Democratic presidential candidate, had previously promised to promote the listing of spot crypto ETFs and reduce digital asset transaction fees.

Irish Presidential Candidate Conor McGregor to Meet with El Salvador’s President to Discuss Strategic Bitcoin Reserves

According to Coingape, Irish presidential candidate and UFC champion Conor McGregor has confirmed that he will meet with Salvadoran President Nayib Bukele to discuss the establishment of a national Bitcoin strategic reserve plan. The meeting will take place during the "Bitcoin Sovereign Summit", and McGregor advocates "returning monetary power to the people" through Bitcoin reserves. In addition to Bitcoin, McGregor said he is exploring the transparent application of other cryptocurrencies in government processes, and Cardano founder Charles Hoskinson has taken the initiative to discuss possible cooperation. Analysts speculate that its final plan may include a combination of Bitcoin reserves and selected digital assets. Previously, its Meme coin REAL project failed to raise funds, but with the recent recovery of the crypto market, policy discussions have picked up again.

Chinese press conference: China-US high-level economic and trade talks made substantial progress and reached important consensus

According to Cailianshe, China and the United States held high-level economic and trade talks in Geneva, Switzerland from May 10 to 11. The Chinese delegation said at a press conference that the two sides had in-depth exchanges on economic and trade issues of mutual concern. The atmosphere of the talks was candid, in-depth and constructive, and substantial progress was made and important consensus was reached. The two sides agreed to establish a China-US economic and trade consultation mechanism, identify the leaders of both sides, and conduct further consultations on economic and trade issues of mutual concern. China and the United States will finalize the relevant details as soon as possible and will issue a joint statement reached at the talks on May 12.

Viewpoint

Analysis: Ethereum has recently achieved a growth of more than 60%, mainly due to Vitalik's simplified vision and technical upgrades

According to Matrixport's analysis report today, Ethereum has recently achieved a growth of more than 60%, mainly due to the simplified vision and technical upgrade proposed by Vitalik. On May 3, Vitalik proposed a simplified vision for Ethereum Layer 1 with "clarity" and "security" as the core. Among them, EIP-4850 introduces a revenue sharing mechanism with Layer 2 to help Ethereum capture value from L2 activities; EIP-7691 reduces L2 fees by expanding data block capacity, improves operating efficiency, and attracts more on-chain transactions to return to the main network. In addition, the report pointed out that the recent liquidation scale of Ethereum has surged to US$221 million. This abnormal phenomenon usually occurs in the downward phase of the market, not during price increases.

Viewpoint: If the US CPI data this week meets expectations, Bitcoin is expected to hit a new high

According to CoinDesk, 10x Research said that the market generally expects the year-on-year growth rate of US CPI in April to remain unchanged at 2.4%. "If this expectation comes true, the market may regard this inflation report as good news. Unless there is negative tariff news, this week's inflation data may become a catalyst for Bitcoin's rise," said Markus Thielen, founder of 10x Research, in an interview. "The CPI data is likely to be bullish and may push Bitcoin to a new high," he added.

Analyst: Bitcoin is expected to hit a new record high, but there may be a short-term correction

According to The Block, analysts said that Bitcoin may set a new historical record, but the price may also fall back in the short term. Vincent Liu, chief investment officer of Kronos Research, pointed out that Bitcoin is close to its historical highs, with strong technicals and prices above the 50-day and 200-day moving averages; the rising adoption rate of institutional investors and the optimistic outlook for 2025 provide a path for it to set new highs. However, Bitcoin's relative strength index shows that it is already in the "overbought" area. BTC Markets analyst Rachael Lucas believes that although this does not mean that the price will reverse immediately, there may be price adjustments or sideways in the short term; Bitcoin's retracement and consolidation above the key psychological price of $100,000 will be conducive to further gains. Min Jung, an analyst at Presto Research, said that the recent rise in the cryptocurrency market was driven by optimism about the Sino-US trade negotiations, and there is currently a rotation phenomenon, with funds flowing into other cryptocurrencies. He also said that whether Bitcoin can break through the previous high depends on the progress of trade negotiations, and geopolitical tensions remain a key variable.

Project News

Binance Alpha to List NEXPACE (NXPC)

Binance announced that its Alpha platform will be the first to launch NEXPACE (NXPC) trading, and trading will start on May 15th, Beijing time. From May 13th, eligible users can use Alpha Points to claim airdrops on the Alpha event page.

Binance will launch OG/USDT perpetual contract, supporting up to 50x leverage

Binance announced that in order to expand trading options and enhance user trading experience, it will launch OGUSDT perpetual contract at 17:00 Beijing time on May 12, 2025, supporting up to 50x leverage.

Binance Alpha Launches PUFFER (PUFFER)

According to the official platform, Binance Alpha has launched PUFFER (PUFFER).

Important data

Hyperliquid 50x whales continue to increase their BTC short positions: a total of 1,000 BTC short positions were opened, and the liquidation price was $106,200

According to monitoring by Ember, [Hyperliquid 50x Whale] closed his LDO short position and transferred 795,000 USDC to Hyperliquid to increase margin and then continued to increase his BTC short position. So far, he has opened a total of 1,000 BTC short positions, worth approximately $104.8 million, with an opening price of $104,427 and a liquidation price of $106,200.

El Salvador has increased its holdings by 8 BTC in the past 7 days, with a total holding of 6174.18 BTC

According to data from the website of the Ministry of Finance of El Salvador, El Salvador has increased its holdings of 8 bitcoins in the past 7 days, and currently holds 6,174.18 bitcoins, with a total value of US$641.5 million. Earlier news came that El Salvador said it would continue to buy bitcoins after reaching an agreement with the International Monetary Fund.

A whale withdrew 821 BTC from Binance 50 minutes ago, equivalent to 85.42 million US dollars

According to The Data Nerd, 50 minutes ago, the whale with the prefix bc1qr withdrew 821 BTC (about 85.42 million US dollars) from Binance. In two days, he accumulated a total of 1,721 BTC (about 179.17 million US dollars), with an average entry price of about 104,108 US dollars.

Another whale shorted BTC worth $44 million with 40x leverage, and the liquidation price was $112,660

According to Lookonchain monitoring, the whale with the address starting with 0x5D2F opened a short position of Bitcoin worth $44 million with a leverage of 40 times, and its liquidation price was $112,660. Earlier news came that the "Hyperliquid 50x whale" (address starting with 0x51d9) opened a high-multiple short position of BTC again after 35 days, opening 888.8 BTC (about $92.93 million) at 40x, with an opening price of $104,094 and a liquidation price of $105,689.

Crypto KOL Patricio Worthalter sold 2,000 ETH for 5.01 million USDC

According to Onchain Lens, crypto KOL Patricio Worthalter (@worthalter) sold 2,000 ETH at $2,506 per ETH in exchange for 5.01 million USDC. Currently, the wallet still holds 388.6 ETH, which is worth about $985,000 at the current price.

“Hyperliquid 50x Whale” shorted BTC again after 35 days

According to the monitoring of on-chain analyst Yu Jin, "Hyperliquid 50x whale" @qwatio has once again opened a high-leverage large position contract on Hyperliquid after a lapse of 35 days: using 2.683 million USDC as margin. ◉ 40x short 888.8 BTC (about 92.93 million US dollars), opening price 104,094 US dollars, liquidation price 105,689 US dollars. ◉ 10x short 1 million LDO (about 1.1 million US dollars), opening price 1.08 US dollars, liquidation price 1.98 US dollars.

CoinShares: Last week, digital asset investment products had a net inflow of $882 million, and Bitcoin attracted $867 million in inflows

According to CoinShares statistics, global digital asset investment products had a net inflow of $882 million last week, achieving four consecutive weeks of growth, and a total net inflow of $6.7 billion year-to-date (YTD), close to the peak of $7.3 billion in early February this year. Among them, Bitcoin performed outstandingly, attracting $867 million in inflows last week, and the cumulative net inflow of US-listed ETFs since their launch in January 2024 reached a record high of $62.9 billion. In addition, Sui attracted $11.7 million in inflows last week, outperforming other mainstream altcoins and surpassing Solana ($76 million) in total inflows from the beginning of the year to date ($84 million). Despite the sharp rise in Ethereum prices, its inflows last week were only $1.5 million.

Financing

Canadian technology company Matador plans to raise $3 million CAD, with part of the net proceeds to be used to increase Bitcoin holdings

According to the official announcement, Canadian technology company Matador Technologies Inc. (TSXV: MATA, OTCQB: MATAF) recently announced that it will conduct a non-broker private placement, with a maximum issuance of 5,454,546 units at a price of 0.55 Canadian dollars per share. Matador expects the total amount of funds raised to be up to 3 million Canadian dollars. It is expected that approximately one-third of the net proceeds from this offering will be used for the following purposes: purchasing Bitcoin; advancing the company's gold acquisition and Grammy business plans; and general corporate purposes.