Crypto Daybook Americas: Robinhood’s Crypto Growth Presages Riot, Strategy Even as Tariffs Hit GDP

The Impact of President Donald Trump’s Reciprocal Tariffs is starting to be felt. The US Economy Contracted for the First Time In Three Years Last Quarter and Stock Prices have Seen Their Worst 100-Day Performance of a Presidential Administration Since 1974.

Results from Trading Platform Robinhood Also Showed Markets Cooled in the First Three Months of the Year, Even as It Beat Analyst Forecasts for Both Revenue and Earnings Per Share.

IT WASN’T ALONE, Major Tech Companies Including Microsoft and Meta Beat Estimates and, Crucialally, Robinhood’s Revenue from Crypto Doubbled from The Year-Earlier Quareter. That May Forehadow What to Look for Later Today, WHEN BLOCK, RIOT PLATFORMS, Strategy and Reddit Post Results After the Closing Bell.

“The recent of wave of weak macroconomic data has been pointed to bot recessary Risks and rising inflation,” James Butterfill, The Head of Research at Coinshares, Told Coindesk. “Despite this, Bitcoin Has Shown Remarkable Resilience, Outperforming the Nasdaq by 11% Since ‘Liberation Day’ on April 2.

Indeed, While First-Quarter Gross Domestic Product (GDP) Fell 0.3% and Major Stock Indexes Postd Losses in Last Month, Bitcoin (BTC) Held Strong. The Largest Cryptocurrency Rose Nearly 15% Against The Dollar in April as Investors Started Using IT As A Safe Haven, Along With Gold and The Swiss Franc.

To butterfill, Risk Assets Are now Seemingly Benefiting from Expectations of An Earlier-Tan-Exectored Interest-Rate Cut.

“Equities and Bitcoin Appear to have recompled, Both rebounding today on renewed Heps of an ImMinent Interest-Rate Cut,“ He Said. “A disappeinting Payroll Friday on Friday – WHICH We Se Seie As Likely – Could Be The Final Nail in The Coffin for Powell, Paving The Way For More Dovish Policy from The Fed.”

Yet in the Cryptocurrency Space, There’s More to Keep An Eye On. Ethereum’s Long-Awaited Pectra Upgrade, WHICH Includes Improvements to Make the Network More User-Friends and Efficiency, Is Going Live on Mainnet on May 7.

The Upgrade Is Significant for Ethereum, Which Has Been Lozing Grund to More Efficient Blockchains Including Solana, Base and Bnb Chain. Defillama Data Shows Total Value Locked (TVL) On Ethereum’s Smart Contracts Grew Just 4% in April, Compared With 21% on Solana, and 9.9% on BNB Chain. Base Saw A Minor Contraction.

In the past year, artemis data shows ethereum netflows totled $ 3.3 Billion, While Base and Solana saw $ 3.3 Billion and $ 3.2 Billion in Net Inflows, Respectiely. Still, Ethereum Recorded $ 880 Million in Net Inflows in April, Suggesting The Trend Is Reversing Ahead of Pectra’s Activation.

The Trend Has, However, Taken It Toll. The Eth/BTC Ratio have Droped to Little Over 0.19, The Lowest Level in Five Years. Stay Alert!

What to Watch

• Crypto:
  • May 1: Coinbase Asset Management Will Introduce The Coinbase Bitcoin Yield Fund (CBYF), WHICH IS AIMED AT NON-UU INVESTORS.
  • May 1: Hippo Protocol Starts Up Its Own Layer-1 Blockchain Mainnet Built on Cosmos SDK and Completes a Migration from Ethereum’s ERC-20 HPO TKEN TO ITSHING HP TOCEN, ENABING TOCEN, ENTEACE
  • May 1, 9, 9: Contellation Network (DAG) ACTIVATES The TESSELATION V3 UPGRADE ON ITS MAINNET, INTRODUKING DELEGATED STAKING, NODE COLLATERAL, TKEN Locking and New Transactions TYPES TYPES TYPES. Functionality.
  • May 1, 11 Am: Thorchain Activates ITS V3.5 Mainnet Upgrade, Adaring the TCY TKEN TO Convert $ 200 Million in Debt Into Equity. TCY HOLDERS EARN 10% OF NETWORK REVENENUE, WHILE Native Rune Remains the Protocol’s Security and Governance Token. TCY ACTIVATES MAY 5.
  • May 5, 3 Am: Iota’s Rebased Network Upgrade Starts. Rebasted Moves Iota to A New Network, Boosting Capacity to As Many As 50,000 Transactions Per Second, Offering Staking Rewards of 10% -15% A Year and Adading Support For MOVAVAVVMVMATTS.
  • May 5, 11 Am: The Crescendo Network Upgrade Goes Live on the Kaspa (Kas) Mainnet. This Upgrade Boosts The Network’s Performance by Increasing the Block Production Rate to 10 Blocks per Second from 1 Block per Second.
  • May 7, 6:05 AM: The PECTRA HARD FORK NETWORK UPGRADE WILL GET ACTIVATED ON THE ETHEREUM (ETH) MAINNET AT EPOCH 364032. PETRA Combines Two Majoer Components: Consensus Layer Upgrade.
• Macro
  • May 1, 8:30 AM: The US Department of Labor Releases Unemployment Insurance Data for the Week Ended April 26.
    • Initial Jobless Claims Est. 224k Vs. Prev. 222k
  • May 1, 9:30 am: S&P Global Releases Canada April Purchasing Managers’ Index (PMI) DATA.
    • Manufacturing PMI Prev. 46.3
  • May 1, 9:45 AM: S&P Global Releases (Final) US April Purchasing Managers’ Index (PMI) DATA.
    • Manufacturing PMI Est. 50.7 Vs. Prev. 50.2
  • May 1, 10:00 AM: Institute for Supple Management (ISM) Releases US April Economic Activity Data.
    • Manufacturing PMI Est. 48 Vs. Prev. 49
  • May 2, 8:30 AM: The US Bureau of Labor Statistics Releases April Employment Data.
    • Nonfarm Payrolls Est. 130k Vs. Prev. 228k
    • UNEMPLYMENT RATE EST. 4.2% Vs. Prev. 4.2%
  • May 2, 9:00 AM: S&P Global Releases Brazil April Purchasing Managers’ Index (PMI) DATA.
    • Manufacturing PMI Prev. 51.8
  • May 2, 11:00 AM: S&P Global Releases Mexico April Purchasing Managers’ Index (PMI) DATA.
    • Manufacturing PMI Prev. 46.5
• Earnings (Estimates Based On Factor Data)
  • May 1: Block (XYZ), Post-Market, $ 0.97
  • May 1: Reddit (RDDT), Post-Market, $ 0.02
  • May 1: Riot Platforms (Riot), Post-Market, $ -0.23
  • May 1: Strategy (MSTR), Post-Market, $ -0.11
  • May 8: Coinbase Global (Coin), Post-Market, $ 2.08
  • May 8: Hut 8 (Hut), Pre-Market
  • May 8: Mara Holdings (Mara), Post-Market

TKEN EVENTS

• Governance Votes & Calls
  • Compound DAO IS VOTING ON MOVING 35,200 Comp ( Repeat, Targeting Roughly 15 % Annual Gain. Voting Ends May 2.
  • May 1, 1 PM: Wormhole to host an ecosystom call.
  • May 2, 3 Am: Ontology to host a weekly community update on x spaces.
  • May 5, 4 PM: Livepeer (LPT) to Host A Treasury Talk Session on Discord.
• Unlocks
  • May 1: Sui (Sui) to Unlock 2.28% of It Circulating Supple Worth $ 261.2 Million.
  • May 1: Zetachain (Zeta) To Unlock 5.67% Of ITS Circulating Supple Worth $ 12.31 Million.
  • May 2: Ethena (ENA) to Unlock 0.73% Of ITS Circulating Supple Worth $ 13.39 Million.
  • May 7: Kaspa (Kas) to Unlock 0.56% of It Circulating Supple Worth $ 13.96 Million.
  • May 9: Movement (Mova) to Unlock 2.04% of It Circulating Supple Worth $ 12.61 Million.
• TKEN LAUNCHES
  • MAY 2: BINANCE TO DELIST ALPACA FINANCE (ALPACA), PLAYDAPP (PDA), Viberate (VIB), and Wing Finance (Wing).
  • May 5: Sonic (s) to be listed on kraken.

ConferencesCoindesk’s Consensus is Taking Place in Toronto on May 14-16. Use Code Daybook and SAVE 15% ON PASSES.

• Day 2 of 2: Token2049 (Dubai)
• May 6-7: Financial Times Digital Assets Summit (London)
• May 11-17: Canada Crypto Week (Toronto)
• May 12-13: Dubai Fintech Summit
• May 12-13: Filecoin (Fil) Developer Summit (Toronto)
• May 12-13: Latest in Defi Research (Tldr) Conference (New York)
• May 12-14: Aci’s 9th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems (New York)
• May 13: Blockchain Futurist Conference (Toronto)
• May 13: EthWomen (Toronto)
• May 14-16: Coindesk’s Consensus 2025 (Toronto)

Token TalkBy shaurya malwa

• Over 3.7 Million Tokens – or 53% – Listed on Geckoterminal Since 2021 have Failed, Meaning at No Longer Actiely Traded, Per A Coingecko Report on Wednesday.
• This Year Alone, 1.8 Million Have Colllapsed.
• That’s Nearly Half of All Dead Tokens in the Past Five Years, Driven by Market Turbulence Post-Trump inaugulation.
• The Explosion in Token Creation, from 428,000 in 2021 to Nearly 7 Million by 2025, Is Mainly Due to Tools Like Pump.Fun that Enable Rapid Memecoin Launches.
• MOST FAILURES OCCURRED IN 2024 AND 2025, as Memocoin Saturation and Specialty Hype Led To Short-Lived, Low-Effort Crypto Projects Flooding The Market.

Derivatives Positioning

• Open Interest Across Centralized Exchanges Has Continued ITS Steady Climb, Reaching $ 125 Billion Across All Assets in a Clear Signal of Growing Speculatory Activity and Market Engase.
• On Binance, The BTC-USDT Perpetual Order Book Heatmap Reveals the Next Significant Supply Zone is at $ 96.2k, with Ask Orders Totling 321 BTC. Additionally, Liquidation Heatmaps Show Clusters ARound $ 96k, Suggesting A Potential Magnet for Price Action, With Liquidation Pockets of $ 58M, $ 42.7M and $ 56.1M.
• Notably, The Largest Liquidation Cluster Sits at the $ 93K Support, Whore $ 76.3M in Liquidations Are Stacked Making IT A Key Level to Watch For Downside Volatility.
• Among Assets with Over $ 100 Million in Open Interest, The Largest Week-on-Week Increases Were Seen in Virtuals Protocol, Memefi, Curve, Fartcoin, and Hyperliquid.
• On the Funding Rate Front, Memefi, Virtuals Protocol and Alchemist Ai Posted The Sharpest Increases, Signaling Elegated Long Positioning and Potential Overheating in Sentiment.

Market Movements:

• BTC IS UP 1.76% FROM 4 PM ET WEDNESDAY AT $ 96,305.26 (24Hrs: +1.49%)
• ETH IS UP 2.37% AT $ 1.838.40 (24hrs: +2.03%)
• Coindesk 20 IS UP 1.64% AT 2.787.00 (24hrs: +1.22%)
• Ether Cesr Composite Staking Rate Is Down 29 BPS at 2.67%
• BTC FUNDING RATE IS AT 0.0078% (1.0416% Annualized) On Binance

• DXY IS UP 0.31% AT 99.81
• Gold Is Down 2.01% AT $ 3,221.46/OZ
• Silver is Down 1.32% AT $ 32.14/Oz
• Nikkei 225 Closed +1.13% AT 36,452.30
• Hang Seng Closed +0.51% AT 22,119.41
• FTSE IS UNCHANGED AT 8,494.81
• Euro Stoxx 50 CLOSED UNCHANED AT 5.160.22
• DJIA CLOSED ON WEDNESDAY +0.35% AT 40,669.36
• S&P 500 CLOSED +0.15% AT 5,569.06
• NASDAQ CLOSED UNCHANGED AT 17,446.34
• S&P/Tsx Composite Index Closed -0.13% AT 24,841.68
• S&P 40 Latin America Closed -0.73% AT 2,529.66
• US 10-YEAR Treasury Rate is up 4 BPS at 4.17%
• E-mini S&P 500 Futures Are Down 1.23% AT 5.655.75
• E-mini NASDAQ-100 Futures Are Up 1.73% AT 20,002.75
• E-mini Dow Jones Industrial Average Index Futures Are Up 0.83% AT 41,109.00

Bitcoin Stats

• BTC Dominance: 64.57 (0.10%)
• Ethereum to Bitcoin Ratio: 0.01914 (0.47%)
• Hashrate (Seven-Day Moving AVERAGE): 850 eh/s
• HashPrice (Spot): $ 49.24
• Total Fees: 6.59 BTC / $ 630,313.73
• CME FUTures Open Interest: 133,905 BTC
• BTC PRICED IN GOLD: 29.6 OZ
• BTC VS Gold Market Cap: 8.40%

Technical Analysis

• After Last Week’s Explosive Rally, Bitcoin Is Consolidating in a Low-TimeFrame Range Between $ 93,000 and $ 95.600.
• While Yesterday’s US GDP Release Briefly Trigger Downside Pressure, The Price Quickly Recovered, and BTC is Holding Above the Yearly Open, Signaling Underly Strenghth.
• On the Longer Time Frame, Bitcoin Remains Within A Supple Zone, Yet With A Recent Hourly Candle Closing Decisively Above Local Resistance, There’s A Suggestion of A Potential.
• If momentum persons, The Next Key Area of ​​Interest Lies Between $ 96,000 and $ 98,000.

Crypto equities

• Strategy (Mstr): CLOSED ON WEDNESDAY AT $ 380.11 (-0.35%), UP 3.1% AT $ 391.85 In Pre-Market
• Coinbase Global (COIN): CLOSED AT $ 202.89 (-1.57%), UP 2.89% AT $ 208.75
• Galaxy Digital Holdings (GLXY): CLOSED AT $ 21.92 (+3.94%)
• MARA HOLDINGS (MARA): CLOSED AT $ 13.37 (-5.98%), UP 3.52% AT $ 13.87
• Riot Platforms (Riot): CLOSED AT $ 7.24 (-2.43%), UP 3.87% AT $ 7.52
• Core Scientific (Corz): CLOSED AT $ 8.10 (-2.29%), UP 5.80% AT $ 8.57
• Cleanspark (CLSK): CLOSED AT $ 8.17 (-3.2%), UP 4.90% AT $ 8.57
• Coinshares Valkyrie Bitcoin Mines ETF (WGMI): Closed AT $ 13.68 (-3.59%)
• Semler Scientific (SMLR): CLOSED AT $ 32.33 (-4.83%), Up 3.93% AT $ 33.60
• Exodus Movement (Exod): Closed AT $ 39.04 (-4.71%), UP 1.82% AT $ 39.75

ETF FlowsSPOT BTC ETFS:

• Daily Net Flow: -$ 56.3 Million
• Cumulative Net Flows: $ 39.11 Billion
• Total BTC Holdings ~ 1.15 Million

Spot eth etfs

• Daily Net Flow: -$ 2.3 Million
• Cumulative Net Flows: $ 2.50 Billion
• Total Eth Holdings ~ 3.45 Million

Source: Farside Investors

Overnight FlowsChart of the day(The tie)

• Over The Past 12 MONHS, The Supple of Stablecoins Has Been Rapidly IncreASING ON TRON AND ETHEREUM, DATA FROM The Tie Show.
• Optimism and Avalanche, Both Ethereum Layer-2 Networks, Have Seen A Deckline in Favor of Those Layer 1S.

While You Were Sleeping

• Sam Altman’s World Crypto Project Launches in US With Eye-Scanning Orbs in 6 Cities (Coindesk): World Plans to Deploy 7,500 Eye-Scanning Devices Across The Us. Their Identity Will Receive The Project’s Wld Token.
• US and UKRAINE SIGN LANDMARK MINELERALS DEAL AFTER MONHS OF FRAUGHT NEGOTIMIPIMS (CNBC): In Return for Favored Access to Ukraine’s Natural Resources, Washington Pledged Recont. Secretary Bessent Calling The Deal A Signal of US Commitment to Ukrainian Sovereignty and Peace.
• Bank of Japan Slashes Growth Forecast As Trade War Hits (The Wall Street Journal): Japan’s Central Bank Held Rates at 0.5% And Cut ITS Growth Occal to 0.5
• Gold Shows of Consolidation As Investment Eases, But Trump Looms (Reuters): Gold Prices Have Dipped from Record Highs Dspite Surging Investment Ease Global Trade Tensions.
• How India and Pakistan’s Militation, Nuclear Arsenals Stack Up (Bloomberg): After Last Week’s Deadly Kashmir Attack, India’s Prime Minister Faces Pressure to Respond, and While Analy Unlikely, Limited Military Conflict Remains a Possibility.
• Mesh Adds Apple Pay to Let Shoppers Spend Crypto, Settle in Stablecoins (Coindesk): The Feature Aims to Close The so-Called Last-Mile Gap that has the saint CEO BAM AZIZI SAID.

In the Ether