PA Daily | Ethereum's market value surpasses Alibaba; substantial progress has been made in the Sino-US economic and trade talks
Reprinted from panewslab
05/12/2025·21DToday's news tips:
China will suspend the 24% tariff on U.S. goods for 90 days, retaining the remaining 10% tariff
Ethereum's market value surpasses Alibaba and rises to 39th in global asset market value
Binance Alpha will be launched on NEXPACE (NXPC)
Binance Alpha launches PUFFER (PUFFER)
Viewpoint: If US CPI data meets expectations this week, Bitcoin is expected to hit another high
Regulatory/Macro
China will suspend the 24% tariff on U.S. goods for 90 days, retaining the remaining 10% tariff
According to the Ministry of Commerce News Office, China and the United States issued a joint statement during the Geneva economic and trade talks, and the two sides promised to take specific measures to ease economic and trade frictions before May 14, 2025. China will adjust the advancing tariffs imposed on U.S. goods. Among them, 24% of the tariff will be suspended within the first 90 days, while the remaining 10% tariffs imposed on these commodities will be retained, and the relevant tariffs imposed according to the Tax Committee Announcement No. 5 and No. 6 of 2025 will be cancelled. 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 has also promised to adjust its adjudication tariff policy on Chinese goods by May 14, 2025. According to Executive Order No. 14257 of April 2, 2025, the United States will suspend the implementation of 24% tariff for 90 days, but retain the remaining 10% tariff, and cancel the tariffs imposed on Chinese goods under Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025.
Japanese listed company Beat Holdings announces increasing investment in Bitcoin spot ETFs
According to Decrypt, listed company Beat Holdings Ltd. said on Thursday it will increase its investment in Bitcoin-related ETFs, becoming the latest Tokyo-listed company to deepen its investment in digital assets amid the rekindled institutional interest in cryptocurrencies. The company, which is listed on the Tokyo Stock Exchange standard market, disclosed Thursday that its board of directors approved a crypto-related investment cap to $34 million from $6.8 million. The company has purchased 131,230 shares of BlackRock's iShares Bitcoin Trust (IBIT) at an average price of $49.49 per share. In a statement, Beat said it had over $681,000 in unrealized earnings, given that IBIT closed at $58.66 on May 9.
According to the official announcement, Japanese listed company MetaPlanet announced that it has increased its holdings of 1,241 bitcoins, with an average purchase price of 14,848,061 yen, and a total cost of 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 about 90.19 billion yen.
Ethereum's market value surpasses Alibaba and rises to 39th in global asset market value
8marketcap data shows that Ethereum's market value surpasses Alibaba and has risen to 39th in the global asset market value. Currently, Ethereum has a market value of approximately US$304.26 billion, while Alibaba has a market value of approximately US$303.72 billion.
According to Money Today, the Democratic Party of Korea (DPK) said it is currently developing a cryptocurrency policy agenda and will announce the specific content later. The Democrats revealed the news at a press conference introducing 10 policy initiatives for the upcoming presidential election. Democratic presidential candidate Lee Jae-ming had previously promised to promote the listing of spot crypto ETFs and reduce the handling fees for digital asset transactions.
According to Coingape, Irish presidential candidate and UFC champion Conor McGregor confirmed that he would meet with El Salvador President Nayib Bukele to discuss the establishment of a national Bitcoin strategic reserve plan. The meeting will be held during the "Bitcoin Sovereign Countries Summit", where McGregor advocates "returning the monetary power to the people" through Bitcoin reserves. In addition to Bitcoin, McGregor said it is exploring the transparent application of other cryptocurrencies in government processes, and Cardano founder Charles Hoskinson has taken the initiative to contact and discuss cooperation. Analysts speculate that its final plan may include a combination of Bitcoin reserves and selected digital assets. The Meme Coin REAL project it launched previously failed to raise funds, but with the recent recovery of the crypto market, policy discussions have rebounded.
According to Cailianshe, from May 10 to 11, China and the United States held high-level economic and trade talks in Geneva, Switzerland. The Chinese delegation stated at a press conference that the two sides had in-depth exchanges on economic and trade issues of concern to each other. The atmosphere of the talks was frank, in-depth and constructive, substantial progress was made and important consensus was reached. The two sides agreed to establish a China-US economic and trade consultation mechanism, clarify the leaders of both sides, and conduct further consultations on economic and trade issues of their respective concerns. 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
According to Matrixport's analysis report today, Ethereum has recently achieved an increase of more than 60%, mainly due to the simplified vision and technological upgrades proposed by Vitalik. On May 3, Vitalik proposed the simplified vision of Ethereum Layer 1 with "clearity" and "security" as the core. EIP-4850 introduced a revenue sharing mechanism with Layer 2 to help Ethereum capture value from L2 activities; EIP-7691 reduced L2 handling fees by expanding the capacity of data blocks, improved operating efficiency, and attracted more on-chain transactions to return to the main network. In addition, the report pointed out that Ethereum's recent liquidation scale surged to US$221 million, an abnormal phenomenon usually occurs during the market downward phase rather than during the price increase.
Viewpoint: If US CPI data meets expectations this week, Bitcoin is expected to hit another high
According to CoinDesk, 10x Research said that the market generally expects that the year-on-year growth rate of US CPI in April remains unchanged at 2.4%. "If this expectation comes true, the market may see this inflation report as good news. Unless negative tariff news appears, inflation data this week could be a catalyst for Bitcoin's rise," 10x Research founder Markus Thielen said in an interview. “The CPI data is likely to be bullish and may push Bitcoin to a new high,” he added.
Analysts: Bitcoin is expected to hit record highs, but a correction may also occur in the short term
According to The Block, analysts said Bitcoin could set a new record, but prices could also see a pullback in the short term. Vincent Liu, chief investment officer of Kronos Research, pointed out that Bitcoin is close to historical highs, with strong technical aspects, with prices above the 50-day and 200-day moving averages; institutional investors' adoption rates have risen and the outlook for 2025 are optimistic, providing a path for it to hit 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 consolidation in the short term; Bitcoin’s backtesting and consolidation above the key psychological price of $100,000 will be conducive to further increase. Presto Research analyst Min Jung said the recent rise in the cryptocurrency market is driven by optimism in Sino-US trade negotiations, and there is currently rotation, with funds flowing into other cryptocurrencies. He also said 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 will be launched on NEXPACE (NXPC)
Binance announced that its Alpha platform will be the first to launch NEXPACE (NXPC) transactions, and the transaction will start on May 15, Beijing time. Starting from May 13, eligible users can use Alpha Points to receive airdrops on the Alpha event page.
Binance will launch OG/USDT perpetual contract, supporting up to 50 times leverage
Binance announced that it will launch the OGUSDT perpetual contract at 17:00 Beijing time on May 12, 2025, supporting up to 50 times leverage.
Binance Alpha launches PUFFER (PUFFER)
According to the official platform, Binance Alpha has launched PUFFER (PUFFER).
Important data
According to Ember Monitoring, [Hyperliquid 50x Giant Whale] closed the LDO short position and transferred USDC to USDC 795,000 to Hyperliquid increase its margin and continued to increase its short position in BTC. So far, he has opened a total of 1,000 BTC worth about US$104.8 million, with a opening price of $104.427 and a liquidation price of $106.200.
According to data from the website of the El Salvador Ministry of Finance, El Salvador has increased its holdings of 8 bitcoins in the past 7 days. Currently, its Bitcoin holdings reach 6174.18 pieces, with a total value of US$641.5 million. Previous news, El Salvador said he would still buy Bitcoin after the International Monetary Fund reached an agreement.
A giant whale extracted 821 BTC from Binance 50 minutes ago, which is about 85.42 million US dollars
According to The Data Nerd monitoring, 50 minutes ago, the giant whale at the beginning of bc1qr extracted 821 BTC (about 85.42 million US dollars) from Binance. In two days, he accumulated a total of 1,721 BTC (approximately $179.17 million), with an average entry price of about $104.108.
According to Lookonchain monitoring, the giant whale at the beginning of 0x5D2F opened a short position worth $44 million worth of Bitcoin with 40 times leverage, and its liquidation price was $112,660. Previous news, "Hyperliquid 50x giant whale" (address starts with 0x51d9) opened short BTC again after 35 days, opened short 888.8 BTC (about 92.93 million US dollars), opened the position price of US$104,094, and the liquidation price of US$105,689.
Encrypted KOL Patricio Worthalter sells 2,000 ETH for 5.01 million USDC
According to Onchain Lens monitoring, the encrypted KOL Patricio Worthalter (@worthalter) sold 2,000 ETH for US$2,506 each, in exchange for US$5.01 million. Currently, the wallet still holds 388.6 ETH, which is worth approximately US$985,000 at the current price.
"Hyperliquid 50x giant whale" opened the BTC again after 35 days
According to the on-chain analyst Yu Ember Monitor, "Hyperliquid 50x giant whale" @qwatio once again opened short BTC. After 35 days, the giant whale once again opened a high-leverage large position contract on Hyperliquid: using 2.683 million USDC as margin. ◉40x opens short 888.8 BTC (about 92.93 million US dollars), opens at $104,094, and liquidates at $105,689. ◉ 10x opens short 1 million LDOs (about 1.1 million US dollars), opens at $1.08, and liquidates at $1.98.
According to CoinShares statistics, the net inflow of global digital asset investment products reached US$882 million last week, achieving four consecutive weeks of growth. The total net inflow from year to date (YTD) reached US$6.7 billion, close to the peak of US$7.3 billion in early February this year. Among them, Bitcoin performed outstandingly, attracting US$867 million inflows last week. The cumulative net inflow of US listed ETFs since it was launched in January 2024 reached a record high of US$62.9 billion. In addition, Sui attracted $11.7 million inflows last week, outperforming other mainstream altcoins and surpassing Solana ($76 million) in total year-to-date inflows ($84 million). Despite the sharp rise in Ethereum prices, its capital inflows last week were only $1.5 million.
Financing
According to the official announcement, Canadian technology company Matador Technologies Inc. (TSXV: MATA, OTCQB: MATAF) recently announced that it will conduct non-brokered private placement, with a maximum of 5,454,546 units issued and a price of CAD 0.55 per share. Matador expects the total amount of funds raised up to 3 million Canadian dollars. It is expected that about one-third of the net proceeds from the issuance will be used for the following purposes: purchasing Bitcoin; advancing the company's gold acquisition and Grammy business plans; general corporate purposes.
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