A lot is happening in the crypto world this week. Big updates and events could cause prices to move, so here’s what you should know.
1. Ethereum’s Pectra Upgrade – May 7
Ethereum will release a big update called the Pectra Upgrade on May 7. This update includes 11 improvements.
One big change is raising the staking limit from 32 ETH to 2048 ETH, which could attract more big investors.
Other updates:
- Easier-to-use wallets
- You won’t need ETH to pay for some transactions
- Better account recovery
“Ethereum is having its biggest upgrade this month,” said a DeFi expert on X.
These changes could help more people use Ethereum apps, which might increase ETH demand. But, while the upgrade happens, some crypto exchanges might pause ETH transactions, which could cause short-term price swings.
The upgrade was delayed a few times so developers could test it properly and make sure everything works smoothly.
2. Sonic Summit – May 6 to 8 (Vienna)
From May 6 to 8, the Sonic Summit will take place in Vienna. This event is important for the Fantom network, now called Sonic.
They will talk about:
- Faster transactions
- Building better apps (dApps)
- New partnerships
“Got your ticket for Summit yet?” Sonic Labs posted.
If they announce exciting new projects, the S token price might go up. But if there are no big updates, prices might stay the same or even drop as traders take profits.
3. Polkadot’s New App
Polkadot plans to launch an all-in-one app. It will let people stake, shop, and save in one place.
This could:
- Make it easier for people to use Polkadot
- Lock up more DOT tokens through staking
- Add real-world use, like spending DOT tokens
If the app is easy to use and safe, more people might start using Polkadot. That could lead to more demand for DOT.
4. Hyperliquid’s New Fee System – Started May 5
On May 5, Hyperliquid added a new system for trading fees and staking. If you stake the HYPE token, you can get discounts on trading fees.
“The new fee system is live,” shared a user on X.
This change is meant to:
- Encourage people to stake HYPE
- Reduce the number of HYPE tokens in circulation
This could help support the price. But so far, the price has dropped slightly. HYPE is down 1.42% in the last 24 hours and is now around $20.58.
5. FOMC Meeting – May 8
The Federal Reserve (Fed) in the U.S. will announce its decision on interest rates on May 8. This is a big deal for crypto.
- If the Fed keeps rates high, investors may sell off risky assets like Bitcoin.
- If they pause or lower rates, crypto prices could rise.
“FOMC this Wednesday. Rate cuts are NOT expected,” said a trader on X.
Some believe the Fed might stop tightening money supply, which could help crypto. One expert, Arthur Hayes, said Bitcoin might even go to $250,000 if that happens.
6. Berachain’s Token Unlock – May 6
On May 6, Berachain will unlock $2.7 billion worth of tokens from its Boyco Vaults.
“There’s over $2 billion waiting. BERA is dumping fast,” said one user.
When big unlocks happen, early investors often sell, which can lower the token’s price. This might cause sharp price swings.
Some traders think the BERA token has already bottomed, and unlocking this much money might help the price recover. Others believe whales may use this chance to farm profits and move on.
7. Coinbase Earnings Report
Coinbase will share its Q1 earnings this week. This update is important because Coinbase is a major U.S. crypto exchange.
If Coinbase shows:
- Good revenue
- More users
- Growth in new projects like the Base blockchain
… it could boost confidence in the market.
But if the report shows low numbers or regulatory problems, it might make investors worry.
Coinbase’s stock price often moves with the crypto market. In past reports, strong earnings have helped push crypto prices up.
The post Top Crypto News This Week: Ethereum Upgrade, Sonic Summit, Polkadot App & More appeared first on The Cryptoplay : All updates about Cryptocurrency worldwide.
