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SUMMARY OF US Q1 GDP REPORT: 1.The U.S. economy contracted at an annual rate of -0.3% in the first quarter, compared to expectations for an increase of 0.2%. That’s down from growth of 2.4% in Q4. 2.Real consumer spending rose by 1.8% Y/Y, after increasing 4.0% in Q4. 3.The GDP Price Index rose 3.7%, above estimates of 3.1%. 4.Core PCE Prices rose 3.5%, after increasing 2.6% in Q4. Key Takeaway: Fears of stagflation are growing as the economy grinds to a halt and inflation ticks higher. What will the Fed do now?

According to BlockBeats, data from Ultrasound.money reveals that Ethereum's net supply increased by 17,575 ETH over the past week. During this period, the total supply rose by approximately 18,200 ETH, while 625 ETH were removed through the burn mechanism. The total supply of Ethereum has reached 120,734,538 ETH, with a current annual growth rate of 0.76%. $ETH

Immutable recorded steady growth in daily network usage in the first quarter of 2025. According to research by crypto analytics firm Messari, average daily transactions on Immutable zkEVM rose by 5.7% quarter-over-quarter, increasing from around 469,000 to 498,000. The growth is notable as it came during a broader downturn in the Web3 gaming space. Immutable zkEVM, a Layer-2 scaling solution for Ethereum, continues to play a key role in supporting blockchain-based games and NFT transactions. According to the report, Immutable is preparing to merge its two core networks, Immutable X and Immutable zkEVM, into a single chain called “Immutable”. Although no launch date has been confirmed, the integration will be completed by late 2025. Related: Immutable (IMX) Price Prediction 2025–2030: Can It Lead the Future of Web3 Gaming? The unified chain is designed to streamline activity across the ecosystem. It combines the scalability of zkEVM with Immutable X’s existing infrastructure. The merger is expected to simplify development for gaming studios and enhance user experience. While daily users declined in Q1, overall NFT transaction volumes held up. NFT sales across Immutable X and zkEVM fell 1.6% to $78.3 million. Average daily sellers dropped 14.9% to 751, and buyers declined 17.8% to 662. Despite the dip in participants, consistent volume points to increased transaction sizes. The Guild of Guardians NFT series dominated the quarter, accounting for 99% of all sales through Heroes and Avatars collections. Heroes NFTs declined 8.5% QoQ, while Avatars rose 40.4% QoQ. Meanwhile, Immutable’s gaming ecosystem continued to grow. The global launch of RavenQuest contributed to user engagement, and Immortal Rising 2 introduced the IMT token, expanding in-game economic activity. Additionally, game publisher MARBLEX announced seven new titles to be launched on Immutable zkEVM in 2025. These releases are expected to drive more traffic and utility for the platform in the coming months. While the network records steady growth, Immutable’s native token, IMX, saw its price fall by 60.1% over the quarter. The token dropped from $1.32 to $0.53, bringing its circulating market capitalization down by 58.4% to $946.4 million. As of this press time, IMX trades at $0.624, following a 2.2% dip in the past day, although it has gained 32% in the past month. The market cap ranking for IMX also slipped, moving from 53rd to 64th place. The decline reflects overall bearish sentiment in the Web3 gaming and crypto markets during the period. Active addresses on zkEVM declined 31.5%, and new addresses fell 36.1% Related: Immutable Free To Announce Deal After SEC Closes IMX Token Probe In a positive regulatory development, the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Immutable. A Wells Notice issued in November 2024 was closed in Q1 2025, with the agency deciding not to pursue enforcement action. The closure removes a major source of uncertainty for the platform and strengthens its regulatory standing ahead of further developments. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

In recent weeks, Bitcoin has shown signs of a stronger recovery. But it’s not just the price that’s intriguing. On-chain analyst Avocado_onchain has observed a sharp spike in open interest in the futures market—and according to him, it’s not just a number. The chart he shows shows a pattern similar to previous bull runs, where open interest that breaks through a previous peak is often followed by a price spike. While it hasn’t yet crossed that threshold, its steep slope suggests that it could come sooner than expected. Imagine a long line in front of a store. A store is more likely to be having a large sale the longer and rapidly the line builds. Open interest, then, is like a line in the futures market. A busy market with a consistent financing rate may indicate that the market is getting ready for a rally rather than pandemonium. On the other hand, data from CNF previously reported that Bitcoin’s MVRV ratio jumped 21.84% in just 21 days. This means that more and more investors—especially those who have been holding BTC for a long time—are starting to see unrealized profits. This is usually the trigger for a change in market sentiment. Interestingly, institutions and whales are not sitting idle. They are actually continuing to accumulate large amounts of BTC, even though the global market has not yet fully stabilized. Furthermore, on May 2, 2025, data from Glassnode revealed an extraordinary surge in demand from whales. In one day, there was an inflow of 12,500 BTC to whale wallets—meaning to wallets with more than 1,000 BTC. At the same time, the price of Bitcoin rose from $58,200 to $62,400, or an increase of around 7.2%. Trading volumes on Binance and Coinbase also soared, indicating that not only large investors are involved, but market participation in general has also increased sharply. Not only that, in the last two weeks until May 1, 2025, whale accumulation has reached more than 43,100 BTC—worth almost $4 billion. Interestingly, most of this accumulation was done secretly. They are moving BTC from exchanges to personal wallets, indicating an intention to hold for the long term. Just think, who would bother withdrawing money from an ATM if they didn’t intend to save it? Still from Glassnode, the number of wallets holding between 1,000 and 10,000 BTC also increased to 2,014 as of April 15. Up from 1,944 on March 5. This is the highest number since April 2024, and reflects the growing institutional confidence in Bitcoin as a long-term asset—not just momentary speculation. Interestingly, even though open interest has increased sharply, funding rates on various exchanges remain relatively neutral. Even on Binance, short positions still dominate slightly. Meanwhile, as of press time, BTC is trading at about $96,386.11, up 1.78% over the last 7 days. Its daily transaction volume is also quite large, reaching $24.14 billion.

The UK Financial Services Authority (FCA) is back in the news, this time because of its latest proposal that is quite brow-raising: banning retail investors from using borrowed funds to buy Bitcoin and other crypto assets, according to Financial times . Yes, that’s right—if approved, you will no longer be able to use credit cards or bank loans to buy crypto. The reason? The FCA sees more and more people taking on debt to follow crypto investment trends that they may not fully understand. Just imagine if you borrow tens of millions to buy crypto, then the price drops overnight. Instead of making a profit, you might end up having to work extra hard to cover the mounting bills. According to data reported by the FCA, the number of investors buying crypto using loans rose from 6% in 2022 to 14% last year. This is no small matter. The risk of mounting debt due to market fluctuations is a major concern—especially for retail investors who usually don’t have in-depth investment experience. On the other hand, this move is not the only British maneuver in the crypto world. CNF reported that in April, UK Finance Minister Rachel Reeves admitted to having direct discussions with US Treasury Secretary Scott Bessent in Washington. In an official statement, the Treasury Department said that the new rules would bring crypto exchanges, agents, and dealers under regulatory oversight. The goals are twofold: eradicating violations of the law and at the same time encouraging legal innovation. It is a bit idealistic, but the steps are quite concrete. Not only that, the UK government has also just announced that foreign stablecoin issuers will not be required to have local operations or obtain licenses in the UK . The goal? Increasing technological cooperation with America and strengthening the UK’s position as the world’s fintech center. Unlike the European Union’s approach which tends to be more strict, the UK seems to want to be a little more flexible to attract global players. Interestingly, on May 2, the Kraken crypto exchange launched a crypto derivatives service specifically for professional investors under FCA regulation. Meanwhile, Revolut stated that although the new crypto rules are quite tough, they still fully support it. This fintech company sees it as an opportunity to grow faster and strengthen customer trust. It is possible that this could be a loophole for big players, but it will leave small investors in the lurch. When viewed from various angles, this policy is like two sides of a coin. On the one hand, there does need to be protection—especially for those who are too bold but lack information. But on the other hand, shouldn’t adult investors be given the freedom to take risks? It’s like prohibiting adults from riding motorbikes for fear of them falling off. But yeah, maybe the FCA thinks more like a parent who is worried about their child falling off their bike because they are speeding downhill. Furthermore, the FCA also proposed that crypto lending and borrowing services, such as those offered by Celsius before it went bankrupt, also be prohibited for retail investors. In addition, they want all platforms to separate client funds from company funds and prohibit the practice of “order flow payments” which can make prices non-transparent. This regulation is still in the public consultation stage until June 13, 2025. So there is still time to voice opinions, both from the industry and the public.