On-chain Weekly Digest: Ethereum’s Pectra network upgraded
$Dood token dropped, $6.9M Raised to Launch Dogecoin App Layer...
On-Chain Overview
Crypto markets remain in a risk-on mode. Capital is flowing into top-tier meme coins, DEX activity is rising, and new NFT ecosystems like Sui and Hyperliquid are gaining traction. Meanwhile, recent developments suggest a softening of U.S.-China tariff policies.
Crypto market momentum surged this week, with total market cap up 12.88% to $3.33T and DEX volume jumping 47.11% to $83.46B. Solana led in DEX activity with $22.39B (+11.38%), while Hyperliquid topped revenue at $13.14M.
（Data accurate as of: May 12, 2025, 6:00am, UTC）
Altcoin, Meme Coin, NFT & RWA
Altcoins and NFTs saw solid gains this week, with altcoin market cap rising 13.84% to $901.96B and NFT cap climbing 17.31% to $8.81B. Meme coins dominated momentum: their weekly trading volume skyrocketed by 92.34% to $78.88B, outpacing all other segments.
（Data accurate as of: May 12, 2025, 6:00am, UTC）
Macro, Stocks & Commodities
Gold posted a solid gain of 2.3%, while the Nasdaq 100 rose 0.67% and the S&P 500 remained flat (+0.08%). Bond yields climbed and volatility dropped, as the U.S. 10Y yield rose to 4.42% (+2.41%) and the VIX fell 9.73%, indicating calmer risk sentiment.
（Data accurate as of: May 12, 2025, 6:00am, UTC）
Key Events of the Week
NFT | $Dood dropped token on 9 May（9 May）
Binance Alpha and Futures listed $Dood on the same day.
DEX | Boop.fun introduces new LP fee pool and 50/50 X airdrop split （9 May）
Boop.fun introduces two major updates: a new LP fee pool for creators and a 50/50 split of the X airdrop between creators and their token holders.
ETH | Ethereum’s ‘Pectra’ network upgrade goes live（8 May）
The Ethereum Pectra upgrade activates smart account wallet UX, doubles L2 data storage capacity with blobs, and improves validator user experience.
L1 | DogeOS Raises $6.9M to Launch Dogecoin App Layer（6 May）
The funding will enable DogeOS to support a variety of consumer apps, enhancing the Dogecoin ecosystem and its decentralized finance services.
Looking Ahead
Meme | 220 $TRUMP holders will have dinner with Trump (22 MAY)
Top 220 Special $TRUMP meme coin holders will be invited to a gala dinner with the President on May 22, 2025.
AI | dAGI Accelerator: Powering the Next Wave of Decentralized AI Innovation (23 May)
Delphi Labs and Cyber Fund have launched an 8-week accelerator - backed by Solana, Ethereum, and Base - to support early-stage teams building decentralized AI infrastructure, agent economies, and AI × DeFi applications.
SOL | Product submissions for the Solana Breakout Hackathon are due on May 16 (16 May)
Solana Breakout Hackathon will be accepting up to 15 startups from the pool of hackathon winners, to get access to an exclusive founder network + $250,000 in pre-seed funding.
Wrapping Up
From a market data perspective: Crypto market cap rose 12.88% to $3.33T, led by a 92.34% surge in meme coin trading volume and a 47.11% jump in DEX activity, with Solana and Hyperliquid topping chain and DEX revenue respectively.
From a market events perspective: Key drivers included Ethereum’s Pectra upgrade, Boop.fun’s airdrop changes, and improving macro sentiment from signs of U.S.-China tariff relief. Upcoming events highlight Trump meme coin dinner, decentralized AI accelerator, and Solana’s hackathon.
