Cryptocurrency Values Skyrocket Following US-UK Trade Agreement: Bitcoin Breaks Through $100,000, Ethereum Climbs 20%, Pepe Coin Soars 31%
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Bitcoin smashed the $100K barrier while Ethereum and meme coins like Pepe went wild! This godsent rally happened following US President Trump's announcement of a US-UK trade deal.
A flood of dollars rushed into the crypto market, and you bet Ethereum didn't miss its opportunity, soaring an impressive 20% to a staggering $2,386, and PEPE surged 31% to lead the gains among top cryptos. Bitcoin, being the showstopper, burst past $100k for the first time since February, trading at $103,965 as of 3:53 a.m. EST.
Trump, much impressed, called the US-UK trade deal a breakthrough, promising it'll shatter barriers and widen market access for American products. Details of the agreement, however, are yet to be finalized.
Crypto Fear and Greed Index Goes Crazy
The Crypto Fear and Greed Index shot up 8 points, hitting a "Greed" reading of 73—the highest since Jan 31, when it scored 76. That's a dramatic improvement from the "Extreme Fear" reading of 18 we saw just a month ago, smack dab in the middle of Trump's trade war chaos.
Meme coins went absolutely bananas. The market cap of the meme coin sector skyrocketed 22.3%, reaching a whopping $62.9 billion, according to CoinGecko. Sector heavyweight Dogecoin jumped 13.9%, with Brett and Fartcoin leading the charge, surging 32% and 22% respectively. Moo Deng shot up 162%, and Peanut the Squirrel took flight, soaring 67%.
Metaplanet Dives Headfirst into Bitcoin
Metaplanet, a Japanese company, announced on May 9 that they'd raise an extra $21.5 million via a bond issue to buy even more Bitcoin. This move comes hot on the heels of their May 7 announcement about purchasing $53.4 million worth of Bitcoin, along with plans to sell $25 million in zero-coupon bonds to finance further Bitcoin acquisitions.
With Bitcoin's price leap past $100k, Metaplanet's Bitcoin portfolio's value has shot up significantly, boosting their status as Asia's largest BTC holder and earning them 11th place globally in crypto reserves.
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- Just as the Crypto Fear and Greed Index reached a "Greed" reading of 73, indicating high levels of investor enthusiasm, a tsunami of dollars rushed into the cryptocurrency market, causing Bitcoin to smash the $100K barrier.
- In the aftermath of Bitcoin's record-breaking rise, Metaplanet, a Japanese company, decided to further invest in the technology, raising $21.5 million via a bond issue to buy more Bitcoin, thus solidifying their position as Asia's largest Bitcoin holder.
- The surge in crypto investments also extends to the meme coin sector, with Pepe, the sector's coin, going wild, surging 31% and contributing to the meme coin market cap skyrocketing by 22.3% to a stunning $62.9 billion.
- Finance experts predict that this technology-driven boom in the crypto market will continue to shape the financial landscape, making it crucial for investors to stay updated on the latest crypto news, such as through our Telegram channel.
