May 2025 Recap of Digital Assets Industry
Bitcoin saw 11% gains and a record high of nearly $112,000 in May. The Nasdaq was up 10% and S&P 500 up 6%.
ETH's stellar performance of 41% in May was, in part, due to the launch of Ethereum’s Pectra upgrade and newfound interest in ETH as a treasury asset. The Pectra upgrade marked Ethereum’s largest protocol update since the Merge, incorporating 11 EIPs to boost usability, scalability, and institutional staking.
One of the bigger L1 performers in May was Hyperliquid (HYPE) which soared 65%. Hyperliquid achieved 86% of perps volume this month. Up from 16% just one year earlier. Hyperliquid’s expansion from a perpetual futures decentralized exchange to a more general-purpose financial blockchain has been noteworthy.
The Trump administration and Labor Department rescinded guidance put in place by the Biden-era Labor Department in 2022 that cautioned 401(k) investors to exercise "extreme care" before investing in digital assets.
Publicly-traded SharpLink Gaming Inc (SBET) announced a $425 million investment in ETH as a treasury reserve asset.
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