Cryptocurrency news
Altcoins have taken an even harder hit. Solana (SOL) is down by nearly 4.8%, now priced at $171, while Cardano (ADA) and Dogecoin (DOGE) fell by 4.89% and 5.87% respectively https://sport-oneway.com/. XRP also saw a drop of around 3.7%. The current sideways action across many tokens has pushed the Altcoin Season Index down to 37 out of 100, meaning that Bitcoin continues to dominate market attention.
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Cryptocurrency news may 6 2025
Meanwhile, token holders and market analysts are closely watching a wave of large token unlocks that could introduce fresh volatility. Among the biggest: SUI’s $253 million unlock on May 1, LAYER’s $84 million on May 11, and APT’s $62 million on May 12. Historically, such events can trigger sell pressure, particularly when sentiment is fragile or liquidity is thin.
Hong Kong has enacted a new law establishing a licensing regime for fiat-referenced stablecoin issuers. This makes Hong Kong one of the first regions to provide a clear legal framework for stablecoins, aiming to attract global crypto firms seeking regulatory certainty in Asia.
Meme-inspired tokens have seen volatile action. In early May, Dogecoin (DOGE) and Shiba Inu (SHIB) helped lead a mini-rally: DOGE jumped about +5% in late April/early May, temporarily making it the top performer among big memes. SHIB also gained, trading around $0.0000135 (up ~2% in 24h on May 2). However, by the Fed week (May 6), this momentum cooled. DOGE was trading near $0.16 and actually slipping ~2% that day, and SHIB also flattened out, as traders rotated into more mainstream assets.
Whether it’s the SEC stepping back, stablecoin laws getting real, or countries racing to attract crypto innovation, the trend is clear — crypto is here to stay, and governments are finally catching up.
On the darker side, crypto-related crime is back in the spotlight after a violent kidnapping case involving a crypto millionaire in Paris. Security remains a major concern as criminals continue to target high-net-worth individuals in the space.
Regulatory activity is also intensifying. The House Financial Services Committee will hold a hearing on digital assets on May 6, while the SEC convenes its third Virtual Asset Roundtable on May 12. Eyes are also on the U.S. Senate, which is scheduled to vote on the GENIUS Act on May 26. If passed, the legislation could reshape stablecoin issuance by imposing strict licensing, reserve, and redemption requirements.
Ada cryptocurrency news
Cardano produces its own wallet software that is available for download on its website, which allows you to store Cardano on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.
Cardano’s development is backed by three companies: IOHK, a blockchain R&D company founded by Charles Hoskinson and Jeremy Wood; the Cardano Foundation, a nonprofit dedicated to Cardano adoption and development; and Emurgo, a venture capital firm based in Japan.
Cardano is a blockchain-based smart contract platform that aims to compete against similar platforms such as Ethereum, Tezos, and EOS, among others, through a more modular, layered protocol that runs on a proof-of-stake consensus algorithm called Ouroboros.
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Identifying itself as a third-generation blockchain and cryptocurrency system following Bitcoin and Ethereum, Cardano’s development is quite different from its competitors in that it is heavily informed by theoretical, peer-reviewed research before implementation in software.