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Bitcoin News Roundup for May 7, 2020
BTC could hit $10K while mining ramps up. This is CoinDesk's Markets Daily podcast.
Updated Dec 11, 2022, 7:33 p.m. Published May 7, 2020, 4:00 p.m.
BTC could hit $10K while mining ramps up. This is 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 Fund.
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
Today's stories:
Bitcoin Outperforming Gold and Stocks so Far This Month
Bitcoin Node Count Falls to 3-Year Low Despite Price Surge
Bitcoin Revenue in Square's Cash App Tops Fiat Revenue for First Time in Q1
Stellar Invests $5M in Abra Ahead of Blockchain Integration
Isolated From The Coronavirus -- And The Rest Of The World -- On An Arctic Expedition | 90.1 FM WABE
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin slides with ether and XRP as market tests $3 trillion floor
BTC's weak tone contrasted with moderate gains in major Asian equity indices, which drew strength mostly from expectations of fiscal stimulus.
What to know:
- Crypto markets continued to decline, with overall capitalization falling below $3 trillion for the third time in a month.
- Large-cap assets, particularly those with ETF exposure, are experiencing selling pressure as institutional investors reassess risk.
- Bitcoin's decline contrasts with gains in major Asian equity indices, which are buoyed by expectations of fiscal stimulus from Beijing.
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