So, like, there was this big thing that happened in the crypto world on May 16, 2025, at 7:15 p.m. All the prices of stuff were kind of chill, not really reacting to all the hype about inflation going up. Crypto prices were just hanging out, not really doing much. Bitcoin was just doing its thing around $104,000, you know, just vibing.
But then, the real action was with the crypto-related stocks. Companies like Cipher Mining, Hive Digital, Hut 8, and TeraWulf were all getting a piece of the action, gaining like 10% to 20%. Why? Well, it seems like everyone was getting excited about this whole artificial intelligence (AI) computing demand thing, all because of a massive $4 billion deal between CoreWeave and OpenAI. CoreWeave shot up more than 26%, stealing the show.
And then there was Galaxy Digital, making its big debut on the Nasdaq and jumping 8% on the first day of trading. The company, which was previously only listed in Toronto, is all about managing crypto investments, trading digital assets, and running a data center business. Coinbase also bounced back, rising 9% after a rough day triggered by a customer data breach and some regulatory drama with the SEC.
DeFi Development, a real estate tech firm with a Solana treasury strategy, was on fire, surging 45% to hit record highs. Why? Well, they struck a sweet deal with memecoin BONK and added more SOL tokens to their balance sheet. Meanwhile, good ol’ BTC was holding steady above $104,000, while ether was doing its thing at $2,580. The CoinDesk 20 Index was just hanging out, not really doing much, and XRP was having a rough time after a U.S. judge shut down the settlement talks between Ripple and the SEC.
Inflation expectations were through the roof, with consumers thinking prices were gonna shoot up like crazy. Some dude named Louis Navellier thought it was all a bit much, saying, “It’s so high it doesn’t make sense.” The Republicans seemed a bit less worried about it, but the markets just shrugged and kept climbing higher. But, like, the rising inflation might mess with the Fed’s plans to cut rates, so that’s something to keep an eye on.
Krisztian Sandor, the markets reporter guy, was all over this story, talking about stablecoins, tokenization, and real-world assets. He’s all about that BTC, SOL, and ETH life, you know? And that’s the scoop on what went down in the crypto world. Crazy stuff, man.
