Crypto Market Update: Institutional Momentum and Upgrades Drive Gains
The global crypto market continued its upward momentum on May 7, 2025, with a total market capitalization of $2.99 trillion—an increase of 2.76% in 24 hours. Sentiment leaned toward “Greed,” fueled by hopes of lower interest rates, trade deal progress, and improving regulatory clarity. Institutional activity remained a key catalyst, with ETFs and corporate treasury movements strengthening core cryptocurrencies. Here’s a closer look at how individual assets performed and what their trajectories may hold.
Bitcoin Approaches $100K as Institutional Demand Surges
Bitcoin (BTC) was priced at $96,919 at 09:30 AM UTC on May 7, later climbing to $98,917 during the US trading session. Its 2.90% daily gain reflected growing investor confidence, with Bitcoin’s realized cap reaching $890 billion and its market share hitting a four-year high. The “Bitcoin for Corporations” conference spotlighted increased adoption from institutional players, contributing to predictions of BTC surpassing $100,000 soon. Some analysts forecast highs between $120,000 and $200,000 for 2025, supported by ETF inflows and growing corporate allocations.
Ethereum’s Pectra Upgrade Sparks Renewed Optimism
Ethereum (ETH) traded at $1,840.02 on May 7, marking a 2.35% daily increase, which turned into a 20% jump by May 9 following the successful launch of its Pectra upgrade. The update enhances validator operations and Layer 2 scalability, further aligning with Ethereum’s L2-centric roadmap. Institutional interest is likely to grow due to improved staking efficiency, and ETH ETF prospects may boost its standing. Price predictions for 2025 range from $5,000 to as high as $15,000, contingent on continued network expansion and upgrade adoption.
Solana’s Volume Surge and ETF Speculation Push Prices Higher
Solana (SOL) was priced at $147.70 in the morning, closing the day at $164.43. This 2.40% gain reflects strong ecosystem activity, with DEX volumes crossing $800 billion year-to-date. The community remained engaged despite minor confusion around domain settings. With an ETF proposal on the horizon, bullish sentiment remains intact. Experts predict SOL could range between $200 and $1,000 by year-end, with mid-tier targets between $290 and $515 supported by sustained user and developer growth.
XRP Climbs Amid Legal Win and Stablecoin Debate
XRP traded at $2.1436 early on May 7 and closed at $2.3268. The token rose 2.06% after the SEC dropped its case against Ripple, though the delay in approving a spot XRP ETF by Franklin Templeton capped enthusiasm. Ripple’s launch of RLUSD, a USD-backed stablecoin, introduced some uncertainty about XRP’s long-term role in its own ecosystem. Despite this, XRP processed over one million transactions in early May, and Standard Chartered maintains a $5.50 year-end target for the token.
Cardano Eyes Breakout on Whale Accumulation
Cardano (ADA) started May 7 at $0.6839 and ended the day slightly lower at $0.6788, still posting a 3.76% gain. Whale investors holding 10–100 million ADA have been accumulating, signaling rising confidence. However, ADA faces stiff resistance near $0.6850. The platform continues enhancing scalability and ecosystem tools. May targets sit around $0.77 to $0.80, with long-term forecasts extending from $1.20 up to a speculative $5 in highly bullish scenarios tied to broader market strength.
Dogecoin Teases Breakout from Falling Wedge Pattern
Dogecoin (DOGE) was priced at $0.17341 on May 7, up 3.40%. Other data showed it fluctuating around $0.1712 to $0.1723. Technical patterns suggest a breakout toward $0.20 is possible. The coin benefits from a loyal community and rising interest in cloud mining. Analysts remain divided, with short-term targets between $0.20 and $0.22, and year-end projections as high as $1.25, largely dependent on market sentiment rather than protocol innovation.
Shiba Inu Soars on Burn News and Shibarium Progress
Shiba Inu (SHIB) ended May 7 at $0.00001438, soaring by 12.34%. The surge was driven by token burn announcements and increased interest in the Shibarium Layer 2 solution. Volume spikes and social media buzz continue to move SHIB’s price. If Shibarium gains traction, a move to the $0.00002 level is plausible. Forecasts for 2025 suggest potential growth toward $0.000025, though this depends heavily on continued ecosystem adoption and sustained community engagement.
Ondo Finance Gains Ground in RWA Sector
Ondo Finance (ONDO) closed May 7 at $0.97600, gaining 11.90%. The platform crossed $1 billion in Total Value Locked and expanded its RWA offerings to Solana and Sui. ONDO also partnered with Mastercard and launched its USDY stablecoin. Despite missing earlier May targets of $2–$5, newer projections suggest a climb to $1.50 if the $1.00 resistance is broken. ONDO’s steady growth suggests the RWA narrative remains intact, albeit at a more gradual pace.
Pi Network: High Expectations, Low Liquidity
Pi Network’s IOU token traded between $0.5820 (OKX) and $0.73 (Coinbase) on May 7. While the “Open Mainnet” launched in February, access remains limited due to ongoing KYC delays. Anticipation is high for a major ecosystem announcement at Consensus 2025 on May 14. Despite Binance listing rumors, looming token unlocks threaten price stability. Current trading levels contrast sharply with earlier predictions of $50–$65, underscoring Pi’s speculative nature until broader mainnet access and utility are confirmed.
SUI Defies Supply Shock with Ecosystem Strength
SUI opened at $3.4021 on May 7 and surged to $4.0336 by day’s end, a 21% rise. The network demonstrated resilience despite unlocking 74 million tokens, bolstered by a 40% rise in TVL to $1.73 billion and consistent DEX volumes over $400 million. Its stablecoin market cap has doubled year-to-date, and it now adds over one million wallets daily. With upcoming initiatives like the Game Dollar and USDY integration, SUI may push toward the $5 to $10 range in the near term.
Market Snapshot Table: May 7, 2025
| Cryptocurrency | Price (May 7, 09:30 UTC) | Daily % Change | Notable Event or Trend |
| Bitcoin (BTC) | $96,919 | +2.90% | Corporate adoption, ETF demand |
| Ethereum (ETH) | $1,840.02 | +2.35% | Pectra upgrade, staking boost |
| Solana (SOL) | $147.70 | +2.40% | DEX volume growth, ETF buzz |
| XRP | $2.1436 | +2.06% | SEC case dropped, ETF delayed |
| Cardano (ADA) | $0.6839 | +3.76% | Whale accumulation |
| Dogecoin (DOGE) | $0.17341 | +3.40% | Technical breakout potential |
| Shiba Inu (SHIB) | $0.00001438 | +12.34% | Token burns, Shibarium activity |
| Ondo Finance (ONDO) | $0.97600 | +11.90% | RWA expansion, Mastercard deal |
| Pi Network (PI) | $0.5820–$0.73 (IOU) | — | Speculation, KYC delays |
| SUI | $3.4021 | +3.52% | TVL and wallet growth |
Momentum with Caution
The crypto market on May 7 reflected strong momentum driven by macro optimism, institutional entry, and ecosystem upgrades. Bitcoin and Ethereum lead with solid fundamentals, while altcoins like Solana and SUI show meaningful adoption. Still, speculative assets like Pi and meme coins demand caution. As the market matures, utility and real-world integration appear to be winning themes, setting the stage for a dynamic second half of 2025. Would you like this formatted for publishing or turned into a newsletter version?
