Brent crude oil rose above $110 per barrel, while spot gold retreated below $4,550 per ounce.
May 4 news: According to Bybit market data, Brent crude oil has surged above $110 per barrel, rising 2.27% on the day. WTI crude oil has surged 4.00% on the day, currently trading at $106.26 per barrel.
Spot silver has declined 3.00% on the day, currently trading at $73.47 per ounce. Spot gold has retreated below $4,550 per ounce, falling 1.52% on the day.
Spot silver has retreated below $74 per ounce, declining 2.41% on the day.
[PANews]
Bitget CFD daily trading volume surpasses $8 billion, setting a new record.
According to the official announcement, Bitget’s CFD sector’s single-day trading volume has exceeded $8.00B. Driven by the global macroeconomic environment and asset allocation demands, the activity of gold-related products has surged, contributing approximately 95.00% of the trading increase and becoming the core engine driving cross-asset trading.
From a regional distribution perspective, it presents a good trend of global collaborative growth. Among them, the Chinese-speaking region contributed 42.00% of the trading increase, the European market accounted for 27.00%, and the Southeast Asian market accounted for 16.00%. The three core markets together contributed 85.00% of the incremental share.
[Odaily]
Senior U.S. officials deny that U.S. vessels were struck by Iranian missiles.
On May 4, according to AXIOS as cited by Jin10, senior U.S. officials denied that a U.S. ship was attacked by an Iranian missile.
[PANews]
A smart money investor spent $127,000 to buy SATO, becoming its second-largest holder.
On May 4th, according to Lookonchain monitoring, a certain smart money address 0x2daa, after profiting approximately $1.30M through trading ASTEROID, spent 53.6 ETH (approximately $127,000.00) today to buy 254,000 sato at a price of $0.50.
Currently, this address has become the second largest holder of sato on the Ethereum network.
[PANews]
Coinbase integrates DFlow to improve token transaction success rates on Solana
According to CoinDesk, Coinbase integrates DFlow to improve the success rate of token transactions on Solana.
Coinbase stated that before introducing DFlow, approximately 1 out of every 30 transactions on Coinbase Solana products failed due to insufficient liquidity coverage. Now, this ratio has decreased to 1/250.
[Foresight News]
ZachXBT accuses Tokenlon and imToken of involvement in fraud and illicit fund flows
“Chain sleuth” ZachXBT posted on X, publicly criticizing Tokenlon and imToken, stating they have become high-risk channels for illicit fund flows, and indicating further actions will be taken against these platforms.
It is claimed that the majority of Tokenlon’s trading volume originates from “pig-butchering” scams, investment frauds, and various other illegal market activities. ZachXBT explicitly stated that Tokenlon’s co-founder Ben He should “bear legal responsibility for such activities.” He added that ongoing investigations and enforcement actions against Tokenlon and the imToken ecosystem will continue. Outside of Southeast Asia, Tokenlon exhibits almost no genuine transaction demand; a significant proportion of its on-chain activity is linked to illicit fund flows—and this issue has markedly worsened since 2022.
Additionally, ZachXBT named several so-called “offshore large-scale trading and aggregation platforms,” including Butter Network, HiFiSwap, Bridgers / SWFT, and Tokenlon, asserting they warrant stricter regulatory oversight and enforcement due to potential criminal conduct.
[Odaily]
U.S. senior officials deny U.S. ship was hit by Iranian missile
A senior U.S. official denied that a U.S. vessel was struck by an Iranian missile.
[Odaily]
Cerebras, a competitor of NVIDIA, plans to raise $3.5 billion through a U.S. IPO.
Cerebras Systems, an artificial intelligence chip manufacturer and data center operator, plans to raise up to $3.5 billion through its initial public offering (IPO) to compete against rivals in this red-hot industry.
According to documents filed with the U.S. Securities and Exchange Commission (SEC), the company—headquartered in Sunnyvale, California—is offering 28 million shares at a price range of $115 to $125 per share.
Cerebras had secretly submitted its IPO application earlier this year, just months after withdrawing a prior registration filing.
[Jin10]
Morgan Stanley: Tech company earnings will have a greater impact on the stock market than the Iran war.
On May 4, according to JIN10, Morgan Stanley strategists stated that robust U.S. corporate earnings—especially in the booming technology sector—have overshadowed concerns that Middle East conflicts could weigh on the stock market.
A team led by Michael Wilson wrote in a report that S&P 500 earnings expectations have been revised upward across multiple time horizons over the past month. Second-quarter earnings expectations were raised by 2%, while full-year 2026 and next-12-month earnings expectations were raised by 3% and 4%, respectively.
[PANews]
Iran unveils new map of Strait of Hormuz region
The Islamic Revolutionary Guard Corps Navy of Iran announced a new map of the Strait of Hormuz region on the same day.
The Islamic Revolutionary Guard Corps Navy of Iran stated that the new area of the Strait of Hormuz controlled and managed by the Iranian armed forces is: the southern boundary is a line connecting Kuh-e Mobarak in Iran and Fujairah in the southern part of the United Arab Emirates; the western boundary is a line connecting the end of Qeshm Island in Iran and Umm Al Quwain in the United Arab Emirates.
[Odaily]
Coinbase integrates DFlow to optimize Solana transaction routing, reducing failure rates to 1/8 of the previous level.
Coinbase disclosed that it has integrated the trading protocol DFlow as its main trading router for the Solana ecosystem, supporting users to achieve native value exchange in spot and prediction markets on Solana.
Coinbase stated that after introducing DFlow, the transaction failure rate of its Solana products has dropped from about 1/30 to about 1/250, a decrease of 8 times.
At the same time, the solution improves liquidity coverage, making small and medium-cap tokens that were previously untradeable due to “no liquidity” tradable, and optimizes user transaction prices.
[CoinDesk]
Today’s Market Pulse
The market reacts to heightened Middle East tensions while traditional assets like oil surge and gold retreats, with crypto platforms showing record volumes and technical improvements amid persistent regulatory concerns.
Key Themes
Geopolitical Risks and Traditional Market Spillovers
Brent crude oil has surged above $110 per barrel as tensions in the Strait of Hormuz escalate despite U.S. denials of attacks on its vessels. Meanwhile, Morgan Stanley indicates that tech earnings rather than geopolitical concerns are currently driving broader markets, creating a complex environment where traditional market movements may influence crypto sentiment.
Crypto Platform Growth and Technical Improvements
Bitget has set a new record with CFD trading volume exceeding $8 billion, with gold-related products driving 95% of the increase. Coinbase has successfully integrated DFlow to reduce Solana transaction failure rates from 1/30 to 1/250, significantly improving user experience and liquidity coverage on the network, demonstrating the maturing infrastructure of crypto markets.
Regulatory Challenges and Illicit Activity Concerns
Noted blockchain investigator ZachXBT has publicly accused Tokenlon and imToken of facilitating significant illicit fund flows, particularly from “pig-butchering” scams. These allegations highlight persistent regulatory scrutiny and the ongoing battle against illicit activities in the crypto ecosystem, potentially leading to stricter oversight of certain platforms.
Smart Money Activity and Token-Specific Interest
Sophisticated investors continue to deploy capital into emerging tokens, with one smart money address spending $127,000 to acquire 254,000 SATO tokens, becoming its second-largest holder. This targeted investment pattern suggests continued interest in smaller-cap tokens despite broader market volatility.
RichSilo Verdict
Smart money should watch how geopolitical tensions evolve in the Middle East and their potential impact on oil markets, which could indirectly influence crypto sentiment. Monitor institutional adoption through platforms like Coinbase’s technical improvements and Bitget’s volume growth. Key risks include regulatory crackdowns on platforms accused of facilitating illicit flows and the potential for traditional market volatility to spill over into crypto, while the AI chip sector competition, exemplified by Cerebras’ $3.5B IPO attempt, reflects broader market sentiment toward technology investments that may impact crypto narratives.
