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Bitcoin News Roundup for May 4, 2020
May the BTC be with you. It's CoinDesk's Markets Daily podcast.
Updated Dec 11, 2022, 7:27 p.m. Published May 4, 2020, 4:00 p.m.
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May the BTC be with you this May the fourth. It's CoinDesk's Markets Daily podcast.
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This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fundhttps://grayscale.co/coindesk.
Today's stories:
Bitcoin Price May Drop After Halving, Historical Data Shows
Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M
US Court Dismisses Lawsuit Over Riot Blockchain's Crypto Pivot
US Senate Staffers Float Blockchain Voting if Chamber Goes Remote
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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