Crypto Morning Brief: Moody's downgrades US credit rating; this week tokens including PYTH, MRS, and VENOM will undergo large unlocks
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Crypto Morning Brief: Moody's downgrades US credit rating; this week tokens including PYTH, MRS, and VENOM will undergo large unlocks
Michael Saylor again posts Bitcoin Tracker information, possibly continuing to increase BTC holdings.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump: The general consensus is that the Fed should cut rates, but Powell may mess it up again
U.S. President Trump posted on social media stating, "Almost everyone agrees that 'the Federal Reserve should cut rates sooner rather than later.' Powell has always been known for being slow to act, and he might mess it up again—but who knows?"
Moody’s downgrades U.S. credit rating to Aa1 amid rising debt
According to Cointelegraph, credit rating agency Moody’s has downgraded the U.S. government’s credit rating from the highest level Aaa to Aa1, primarily due to the continuously rising national debt.
In its May 16 announcement, Moody’s stated that U.S. lawmakers have failed to curb annual deficits or reduce spending, leading to ongoing growth in national debt. The rating agency said: "We believe the fiscal proposals currently under consideration will not lead to meaningful, multi-year reductions in mandatory spending and deficits. Over the next decade, as benefit spending increases while government revenues remain largely unchanged, we expect deficits to widen."
Although the short- to medium-term credit outlook is negative, Moody’s maintains a positive long-term view on the U.S. economy, citing strong economic fundamentals and the dollar’s status as the world’s reserve currency as advantages reflecting a "balanced" borrowing risk profile.
U.S. government debt surpassed $36 trillion in January 2025. Despite recent efforts by figures like Elon Musk to reduce federal spending and lower national debt, there are no signs of slowing. As debt rises and investor confidence in U.S. government securities declines, bond yields are expected to surge, increasing debt servicing costs and further driving up national debt.
Data: Bitcoin mining difficulty increased by 2.13% to 121.66 T
According to cloverpool data, Bitcoin mining difficulty adjusted at block height 897,120 (22:01:56 Beijing time today), rising by 2.13% to 121.66 T; the current network average hashrate over the past seven days is 846.6 EH/s.
Grayscale Research Head: Bitcoin dominance may stabilize between 60% and 70%, not enter an altcoin season
According to Decrypt, Zach Pandl, Head of Research at cryptocurrency asset management firm Grayscale, said Bitcoin dominance may stabilize in the 60%–70% range rather than experience a significant drop.
Juan Leon, Senior Investment Strategist at Bitwise, noted that declining Bitcoin dominance reflects increased investor risk appetite, driven mainly by factors such as U.S. President Trump’s 90-day tariff pause and falling inflation. Analysts believe Bitcoin dominance tends to rise when markets focus on macroeconomic instability, and falls when attention shifts to blockchain technology applications and innovation.
SOON疑似 posts hinting at completed snapshot
Solana Virtual Machine SOON posted on social media: “Red Pill Cabal has completed the snapshot. See you later.” Accompanied by a camera-shot image, this may imply the project has completed its snapshot.
CUDIS: Users must register Solana wallet by May 25 to claim airdrop
Solana-based DePIN project CUDIS announced that with TGE approaching, users must register their Solana wallets on the official website by May 25, otherwise their airdrop claims may be affected.
Chain game Nyan Heroes, once pre-registered by over 250,000 players, announces shutdown
According to the official Nyan Heroes announcement, due to the latest product failing to reach the expected user scale and the current Web3 market environment facing numerous challenges, the project failed to secure sufficient funding to sustain studio operations, ultimately leading to termination.
Nyan Heroes had secured over 250,000 player pre-registrations on Epic and Steam platforms, with four test events collectively attracting over one million participants. The game previously ranked among the most popular and top-played titles on Epic Games and received coverage from traditional media outlets including IGN, Business Insider, and Game Rant.
Despite extensive discussions around publishing, new investments, grants, and acquisition options, the team ultimately failed to raise enough funds to complete game development.
Doge whales accumulate 1 billion DOGE during key support formation
According to CoinDesk, based on CoinDesk Research’s technical analysis model, DOGE has established strong support at $0.212, with high-volume rebounds confirming buyer interest. Over the past month, whale accounts have accumulated over 1 billion DOGE, bringing their total holdings to 25.97 billion DOGE, indicating large investors are preparing for potential upside.
Technical analysis shows DOGE formed a trading range of $0.211–$0.220 over the past 24 hours, with high-volume rebounds occurring at 13:00 and 22:00, validating the $0.212 support zone. In the last hour, DOGE demonstrated clear bullish momentum, rising from $0.215 to $0.216, accompanied by multiple volume spikes.
Analysts note that despite ongoing macroeconomic headwinds, DOGE remains above key moving averages and has formed a potential bull flag pattern. If confirmed by sustained buying pressure, this could push the target price toward $0.35. Current retail futures activity is at neutral levels, suggesting room for growth before overheating.
Michael Saylor reposts Bitcoin Tracker message, likely to continue accumulating BTC
Strategy founder Michael Saylor has once again posted Bitcoin Tracker-related information, saying: "Never let those who buy orange paper by the barrel down."
Based on previous patterns, Strategy typically discloses Bitcoin accumulation news the day after posting such messages.
Public company Basel Medical Group launches $1 billion Bitcoin acquisition plan
According to Globe Newswire, Basel Medical Group Ltd (Nasdaq: BMGL) has announced the launch of a $1 billion Bitcoin acquisition strategy aimed at significantly diversifying its asset reserves. The Singapore-based healthcare provider plans to complete the transactions through innovative share exchange arrangements with institutional investors and high-net-worth individuals in the crypto space, with terms expected to be finalized within the quarter. This move will position the company with one of the strongest balance sheets in the Asia-Pacific healthcare industry, enhance M&A flexibility, and establish a diversified asset base to withstand market volatility. Dr. Darren Chhoa, CEO of Basel Medical Group, said this financial transformation will provide unprecedented capabilities to execute its Asian growth strategy while maintaining sound financial management.
This week, tokens including PYTH, MRS, and VENOM will undergo large-scale unlocks, totaling over $400 million
According to Token Unlocks data, major one-time token unlocks are scheduled this week for PYTH, MRS, and VENOM, with a total release value exceeding $400 million:
Pyth Network (PYTH) will unlock 2.13 billion tokens at 22:00 on May 19, worth approximately $325 million, representing 58.62% of circulating supply;
Metars Genesis (MRS) will unlock 10 million tokens at 08:00 on May 22, worth approximately $177 million, representing 0% of circulating supply (specific details not indicated);
Venom (VENOM) will unlock 59.26 million tokens at 16:00 on May 25, worth approximately $6.13 million, representing 2.86% of circulating supply;
Murasaki (MURA) will unlock 10 million tokens at 08:00 on May 23, worth approximately $3.95 million, representing 1% of circulating supply.
Eigenlayer (EIGEN) will unlock 1.29 million tokens at 03:00 on May 20, worth approximately $1.84 million, representing 0.43% of circulating supply.
Market Update
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