KEYTAKEAWAYS
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Binance Alpha 2.0 hits record $274M daily volume and 1M+ trades, driven by Alpha Points incentives rather than organic user growth.
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BlackRock's crypto holdings surge 40% to $5.4B in Q1, signaling strong institutional confidence in Bitcoin as a long-term asset.
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Fed rate cut probability drops to 2.7% for May, with markets anticipating potential June cuts amid cautious economic monitoring.
CONTENT
BINANCE ALPHA HITS OVER 1 MILLION DAILY TRADES FOR THE FIRST TIME
Binance Alpha 2.0 reached a new all-time high with $274 million in daily trading volume. KMNO led with $98.3 million, followed by B2 with $41.5 million. For the first time, daily trades exceeded 1 million.
Analysis:
The growth in Binance Alpha 2.0 volume appears closely related to the rising value of Alpha Points, which are linked to airdrop eligibility and token launch access.
Alpha Points are calculated based on users’ asset holdings on Binance CEX and buying activity on Binance Wallet.
Since the trade volume increase did not come with a clear rise in user numbers, it suggests that much of the activity is driven by incentives, rather than organic market demand.
BLACKROCK’S CRYPTO HOLDINGS REACH $5.4 BILLION IN Q1
BlackRock’s latest 13F filing shows a significant increase in crypto-related assets as of the end of Q1 2025. The firm added more shares of spot Bitcoin ETFs like IBIT and FBTC, as well as stocks of Bitcoin-focused companies.
IBIT holdings rose to 5.85 million shares, worth $274 million, while shares in MicroStrategy (MSTR) grew by over 3.15 million, totaling more than $4.15 billion in market value.
Overall Bitcoin-related holdings increased from $3.9 billion in Q4 2024 to $5.4 billion in Q1 2025, a nearly 40% jump.
Analysis:
BlackRock’s strong increases in IBIT and MSTR holdings suggest that it views Bitcoin as a long-term strategic asset, not just a short-term speculative tool. This reflects growing institutional confidence in Bitcoin’s role in traditional portfolios.
FED RATE CUT IN MAY: ONLY 2.7% CHANCE
According to CME’s FedWatch Tool, with less than two days before the next FOMC meeting, the probability of a 25 basis point rate cut in May is just 2.7%, while the chance of rates staying unchanged is 97.3%.
Looking ahead to June, markets see a 69.8% chance that rates remain the same, a 29.4% chance of a 25 bps cut, and just 0.8% chance of a 50 bps cut.
Analysis:
Since the Federal Reserve lowered the rate to 4.25%–4.50% in December 2024, market expectations for further cuts have weakened. This highlights the Fed’s data-dependent approach.
Investors should closely watch upcoming data such as May’s PCE report, non-farm payrolls, and comments from Chair Powell, as these will provide signals on inflation trends and recession risks.
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