BTC and ETH benefit from meme mania.

PEPE, a meme token based on Ethereum, has recorded massive gains of close to 38,900% ROI for early investors in its first month. This has led to increased interest in the original BRC-20 token standard, which was used to create the Bitcoin-based PEPE in March 2023. The BRC-20 token standard is an experimental mechanism for launching tokens on the Bitcoin blockchain network, created by a pseudonymous on-chain analyst called Domo.

Bitcoin (BTC) is showing positive momentum as it turns green for the month, leading investors and traders to speculate about the end of the prolonged bearish trend. However, strong economic indicators for the US Dollar, such as the Non-Farm Employment Change and the Unemployment Rate, could impact Bitcoin's price by causing investors to shift their focus towards traditional assets.

The average transaction fee on the Bitcoin network has risen to its highest level in nearly two years, according to data from Glassnode. The spike in network fees has been attributed to a renewed interest in meme coins, such as PEPE and SPONGE, which has ignited a surge in transactions relating to the experimental BRC-20 token standard. The BRC-20 standard allows users to issue and transfer fungible tokens via the Bitcoin blockchain.

May 6 (Cointime) - The US Government is currently holding over $6 billion worth of Bitcoin in custody, according to a recent tweet by @ArkhamIntel.

The first seizure took place in 2020 from the Silk Road, which resulted in the government gaining custody of 69.37K BTC.

Craig Wright, who has claimed to be the founder of Bitcoin, has shown “prima facie evidence” of contemptuous conduct in court proceedings for failing to correctly provide information linked to $143 million in disputed cryptocurrency, a U.S. judge said in a ruling published Friday.

PacWest Bancorp, the holding company for PacWest Bank, has experienced a significant drop in value, with its stock price falling by over 50% in a single day. The drop comes amid concerns about the bank's exposure to risky loans and its ability to weather a potential economic downturn.

Robert F. Kennedy Jr., a prominent American environmental lawyer and son of former US Senator Robert F. Kennedy, has expressed his support for Bitcoin and criticized the global financial system's censorship and control over people's finances.

The Central Bank of Argentina has taken steps to tighten regulations on Bitcoin and other cryptocurrencies. The move comes amid concerns about the potential risks posed by cryptocurrencies to the country's financial system.