Saylor hype, ETF demand Lift BTC

May 01, 2025

Reading time: 5 minutes

Trump-linked stablecoin powers $2B Binance investment via MGX

Key points:

  • Abu Dhabi’s MGX will use Trump-affiliated USD1 stablecoin to settle its $2B Binance investment, one of Web3’s largest funding deals.

  • USD1’s market cap has surged past $2.1B, positioning it as the second-largest stablecoin on BNB Chain.

News - Abu Dhabi-based investment firm MGX will use the Trump-backed USD1 stablecoin to finalize its $2 billion stake in Binance, marking one of the largest institutional investments in Web3. The announcement came via Eric Trump at the Token2049 event in Dubai, where he also revealed that USD1 will be integrated with the Tron ecosystem, backed by Justin Sun.

The deal is historic not only for its size, but for signaling a stablecoin’s role in bridging geopolitical capital with crypto giants. It’s MGX’s first crypto venture—and Binance’s first disclosed institutional investor.

USD1’s meteoric rise - Launched by World Liberty Financial (WLFI) in March 2025, USD1 is pegged to the U.S. dollar and backed by short-term treasuries and cash equivalents. Initially dismissed as politically charged, the stablecoin has since exploded in adoption. It grew from $128M to $2.1B in market cap within days, overtaking PayPal’s PYUSD and ranking seventh among all stablecoins.

USD1 now ranks #2 on the Binance Smart Chain, and WLFI says more DeFi and CeFi integrations are underway. Co-founder Zach Witkoff teased future partnerships and point-of-sale use cases, while an early airdrop campaign hinted at broader circulation strategies.

Eric Trump: “Banks are a joke” - Eric Trump didn’t hold back during his panel. “Why do banks run 9–5 with a long lunch break? SWIFT is a disaster,” he said. He contrasted traditional banking delays with instant cross-border transactions via crypto—framing USD1 as a symbol of a broader financial shift.

Bitcoin surges past $97K: ETF demand, Saylor buzz fuel bullish momentum

Key points:

  • Bitcoin surged past $97K for the first time since February, driven by ETF inflows, bullish equities, and treasury firm accumulation.

  • Analysts predict $200K–$500K targets for this cycle, with some projecting $1M BTC by 2029 amid growing institutional and sovereign interest.

News - Bitcoin soared past $97,000 on May 1, marking its highest level since late February and capping a 28% rebound from April’s $75K bottom. The move, which caught short traders off-guard, coincided with U.S. stock rallies and renewed optimism in crypto markets. On-chain data from CoinGlass showed thickening ask liquidity near the $97K resistance, setting the stage for a potential push toward $100K.

Driving the momentum is a blend of macro and institutional tailwinds. Analysts pointed to poor U.S. GDP data as increasing pressure on the Fed to ease policy, pushing capital back into risk-on assets like BTC. Meanwhile, gold fell 8% from its April high, reflecting a shift in investor appetite.

Strategy and Metaplanet stack more BTC - Institutional demand remains strong. Michael Saylor’s Strategy (MSTR) hit a YTD high above $400 ahead of its earnings, after maxing out its $21B equity sale program to add BTC to its treasury. Japanese firm Metaplanet also announced U.S. expansion after accumulating $481M in Bitcoin.

From ETF flows to million-dollar predictions - ETFs continue to post record inflows, with BlackRock’s iShares Bitcoin Trust becoming the fastest-growing ETF ever. Bitwise’s head of research forecasts Bitcoin hitting $200K–$500K by 2025, and $1M by 2029, assuming structural ETF demand and potential U.S. government adoption. Institutional channels like Merrill Lynch and Morgan Stanley are still onboarding Bitcoin ETFs—potentially unlocking $10T+ in assets.

What’s next? - With macro liquidity loosening, strong ETF flows, and BTC’s psychological $100K level in sight, the next few weeks could be pivotal. Cautious optimism prevails—but the bulls are clearly back in control.

21Shares files for SUI ETF, token jumps 10% amid Fireblocks partnership

Key points:

  • 21Shares has filed for a U.S.-listed SUI ETF, causing the token to rally over 10% in 24 hours.

  • Sui Foundation also partnered with Fireblocks to boost institutional access and custody infrastructure.

News - Swiss asset manager 21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch a SUI exchange-traded fund (ETF), sparking a strong price reaction from the market. SUI surged over 10% in 24 hours, trading above $3.70, and is up nearly 80% over the past two weeks.

The proposed ETF would track the price of SUI, the native token of the Sui blockchain—a high-speed Layer 1 network built by former Meta engineers. 21Shares President Duncan Moir announced the filing at Sui’s Basecamp 2025 conference, calling the network “one of the most exciting blockchains in the industry.”

While the ETF would not offer staking rewards in the U.S., unlike its European counterpart listed on Euronext, it represents a strategic push by 21Shares into Layer 1 tokens beyond Ethereum and Bitcoin. The firm has also filed for ETFs tied to Dogecoin, XRP, and Polkadot.

Building momentum: Sui x Fireblocks partnership - In parallel with the ETF filing, the Sui Foundation revealed a new partnership with Fireblocks—a key infrastructure move aimed at attracting institutional players. The integration will allow custody of native SUI and access to DeFi protocols across the network, signaling growing maturity in the project’s ecosystem.

ETF wave growing beyond Bitcoin and ETH - The 21Shares filing follows Canary Capital’s similar SUI ETF application in March, which awaits SEC review. While spot crypto ETF approvals beyond Bitcoin and Ethereum are still pending, filings for assets like SUI, XRP, and DOGE suggest a wave of broader altcoin ETF products is on the horizon—if regulators give the green light.

Morgan Stanley plans crypto trading for E*Trade by 2026

Key points:

  • Morgan Stanley is developing a crypto trading feature for E*Trade, targeting a 2026 launch with potential partner firms.

  • The move follows a regulatory shift under the Trump administration, which has fueled renewed institutional interest in digital assets.

News - Morgan Stanley is reportedly preparing to roll out cryptocurrency trading on its E*Trade platform by 2026, according to a Bloomberg report. The banking giant is exploring partnerships with crypto-native firms to support the infrastructure for spot trading, including Bitcoin and Ethereum. While the initiative is in early development, internal discussions reportedly began in late 2024 and gained momentum following Trump’s return to office.

The launch would mark a significant expansion of Morgan Stanley’s digital asset strategy. The firm already offers Bitcoin ETFs, futures, and options to its wealthier clients, and in August 2024, began allowing advisors to pitch Bitcoin ETF products more broadly.

Wall Street banks re-enter the crypto race - Morgan Stanley isn’t alone. Charles Schwab has also hinted at offering spot trading, while SoFi recently reentered the crypto market following a pause to comply with regulatory requirements. The reentry of legacy financial institutions suggests that crypto-native exchanges like Coinbase and Kraken may face increased competition in the retail space.

A political and regulatory greenlight - This development follows a broader regulatory thaw under President Trump’s pro-crypto administration. Since his inauguration, the SEC has halted several enforcement actions and embraced a friendlier tone toward digital assets. The appointment of Paul Atkins as SEC Chair has further accelerated this shift.

Still, Trump’s personal involvement in crypto projects—like the TRUMP memecoin—has stirred controversy, with lawmakers raising ethical concerns. Despite that, Wall Street appears undeterred, with firms like Morgan Stanley preparing for a future where crypto is mainstream.

Interesting facts

  • As of April 2025, there are over 17,000 cryptocurrencies in existence, but only about 10,385 are considered active. This vast number includes a mix of serious projects and novelty tokens, highlighting the diverse and sometimes whimsical nature of the crypto world.

  • Sam Altman's Worldcoin project has officially launched in the U.S., allowing users to receive WLD tokens by scanning their irises at designated "World Orbs" in cities like Los Angeles and Miami. The initiative aims to establish a global digital identity system, though it has sparked debates over biometric data privacy.

  • The United States has become the largest government holder of Bitcoin, amassing approximately 198,000 BTC through seized assets and strategic reserves. This move positions the U.S. as a significant player in the crypto space, with plans to hold these assets long-term to potentially influence market dynamics.

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Top 3 coins of the day

Fartcoin (FARTCOIN)

Key points:

  • FARTCOIN rose 0.57% to $1.25, continuing its euphoric rally with Parabolic SAR showing a strong uptrend.

  • The RSI climbed to 69.96, signaling that the token is teetering on the edge of overbought territory.

What you should know:

Fartcoin added another 0.57% to its impressive rally on May 1, closing at $1.25 and maintaining its vertical trajectory that began in early April. With Parabolic SAR dots continuing to form below the candles, the uptrend remained intact, reflecting sustained bullish momentum. The recent breakout has pushed FARTCOIN to levels last seen in January, fueled by a wave of retail enthusiasm and viral memecoin momentum. However, the RSI approached 70—just a tick below the classic overbought threshold—hinting that the rally may be due for a breather. Volume, while still active, showed signs of tapering slightly in the last two sessions, aligning with the narrative of potential consolidation. Recent reports also flagged a rising wedge formation, raising concerns that a steep correction could follow if momentum stalls. For now, the $1.50 level remains a psychological target, while the $1.05–$1.00 zone may act as near-term support if profit-taking begins.

Worldcoin (WLD)

Key points:

  • WLD dropped 4.26% to $1.07, marking a notable correction after its multi-day rally.

  • The MACD remained in bullish territory, but fading histogram bars hinted at weakening momentum.

What you should know:

Worldcoin slipped over 4% to trade at $1.07, continuing its cooldown phase after a strong run that began mid-April. The recent pullback aligned with broader market consolidation, although the token’s uptrend remained technically intact with Parabolic SAR dots still below the candles—signaling support for further upside unless reversed. On the MACD, the blue line stayed above the signal line, but histogram bars began to shrink, indicating that bullish momentum may be slowing. Volume spiked during the recent surge but has since started to decline—raising questions about sustained buying interest. This price movement followed Worldcoin’s high-profile launch of its U.S.-based iris-scanning identity platform, backed by Sam Altman. The project also announced partnerships with Visa and Tinder for digital ID expansion, sparking debate and investor speculation around mass adoption and privacy implications. WLD will need to reclaim $1.20 as a short-term resistance to resume its climb. If bearish pressure intensifies, the $0.95–$1.00 range could act as a key support zone.

XDC Network (XDC)

Key points:

  • XDC edged up 0.19% to $0.077, holding above the Bollinger midline and showing signs of cautious accumulation.

  • MACD stayed in bullish territory, but its weak crossover momentum pointed to indecisive trend strength.

What you should know:

XDC traded mostly flat, closing at $0.077 after a modest 0.19% uptick. Despite the lack of a breakout, the token managed to remain above the Bollinger Band basis line (20-day SMA), hinting at underlying buyer interest. Price action stayed squeezed between the upper and lower bands, reflecting low volatility and a wait-and-watch stance among traders. The MACD maintained a slight bullish crossover, though the distance between the MACD and signal lines remained narrow—signaling uncertain momentum. Volume also showed no dramatic shifts, reinforcing the idea of consolidation rather than breakout or breakdown. XDC’s recent bullish catalyst came from its integration with LayerZero, enabling omnichain interoperability—an important milestone for expanding its DeFi and enterprise use cases. While the impact has yet to translate into a strong price surge, sentiment around ecosystem growth has improved. If bulls can push past $0.080, the next upside target could be $0.085–$0.088. On the downside, the $0.072–$0.070 support range remains crucial to defend the current structure.

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