A Look Back at How May Has Started for the Crypto World


The initial week of this month has been extraordinary in the case of some exclusive developments. One of the prominent things witnessed during this week took into account the setting of a new record by Bitcoin (BTC) in terms of transfers done within one day. In addition to this, the crypto industry is again pushing its boundaries with the acquisition of the latest regulatory licenses and investments. The exclusive funding rounds and token listings have also been the centre of attention this week.

Bitcoin Witnesses an Exclusive Record in Terms of Transfers Processes within One Day

Bitcoin Ordinals have played a significant role in processing additional transfers within one day. As a result of this, on the 1st of this month, Bitcoin saw the highest number of transfers being processed within a single day throughout the 14-year history of the primary cryptocurrency. On that day, the daily processed transfers reached the sum of approximately 568,300.

This figure is well above the former highest record of up to 78,000 transfers seen back in the year 2017. Out of the cumulative transfers, above 307,000 were related to Ordinals. This made an exclusive high within 1 day. In addition to this, it also represented an increase of up to sixteen percent from the former record established only a day before, in line with the data offered by the Dune dashboard.

BitOasis Obtains the Earliest Broker-Dealer MVP License from Dubai Regulator

BitOasis, a Middle East-based crypto exchange, has remained successful in getting the initial broker-dealer Minimum Viable Product License from the regulatory agency of Dubai. The crypto exchange is pioneering with great attention given to the United Arab Emirates and the Middle East. The Virtual Asset Regulatory Authority of Dubai was established back in 2022 to administer and nurture the promising sector of virtual assets within the jurisdiction.

The respective achievement is witnessed after BitOasis obtained provisional approval back in 2022’s March. As no entity has yet been successful in getting the Full Market Product (FMP) phase, as mentioned on the website of VARA, the achievement of BitOasis is still noteworthy. With VARA and other such progressive initiatives like BitOasis’ listing, Dubai is indicating that its jurisdiction is open for businesses as well as welcoming the future of finance.

OKX Ventures to Be the Latest Investor for Cetus Protocol

The well-known crypto exchange OKX Ventures declared on May 2nd that the company is investing in Cetus Protocol which is a decentralized exchange. The investment is focused on offering a resilient and adaptable liquidity network that would provide convenience in asset trading on Sui and Aptos platforms.

Henry Du, the co-founder of Cetus, mentioned that the support from OKX Ventures will permit the platform to give broader access to a wide array of consumers existing in the Web3 space. Therefore, the respective initiative will potentially break through the margin between the on-chain and off-chain sectors, he added.

Bitdeer and DHI of Bhutan to Collect $500M for Mining Operations

A Nasdaq-listed mining network Bitdeer Technologies Group and an autonomous investment arm Druk Holdings and Investments (DHI) have formed a new collaboration. This endeavour is being initiated to develop environment-friendly and carbon-free mining operations for digital assets in Bhutan.

As declared by DHI and Bitdeer, the purpose of the partnership is to collect up to $500 million. Following that, at this month’s end, the collaborators will launch worldwide campaigns for investment fundraising. Bitdeer’s chairman Jihan Wu asserted that the partnership will play a vital role in stabilizing the internal economy of Bhutan.

Major Crypto Exchanges like OKX, Bybit, and Binance List SUI Token and Network

Renowned crypto exchange platforms like OKX, Poloniex, Bybit, and Binance have listed the SUI crypto token. All of these crypto exchanges announced the token listing on the 3rd of this month. On OKX, 10,000,000,000 was the figure set for the supply of the SUI tokens while the company mentioned that 528,273,717 tokens will be the circulating supply.

Poloniex, OKX, and Bybit announced offering trading with the SUI/USDT token pair. Nevertheless, Binance declared trading in SUI/EUR, SUI/BTC, SUI/TRY, SUI/USDT, and SUI/TUST token pairs to provide a variety for consumers. This diversity of trading options is focused on increasing the SUI token’s adoption.

Pepe Coin Witnessed a Great Upsurge in Market Capitalization, Close to $1B

The meme-inspired Pepe (PEPE) cryptocurrency has seen a remarkable rise in terms of its market capitalization which is getting closer to the $1B mark. On the 5th of May, the toke witnessed a fifty percent increase in its market cap within just 24 hours to reach $830M. Moreover, the trading volume of the token has also touched $752M in the meantime.

The rise in Pepe’s trading volume and market capitalization may signify its potential to offer significant returns. Nevertheless, there remain some concerns regarding market manipulation. Hence, investors should be cautious and carry out comprehensive research as meme tokens are highly volatile.


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