neversol PriceNEVER

As of May 13, 2025, the cryptocurrency market is experiencing notable developments across regulatory frameworks, corporate actions, and market performance.

Regulatory Developments

U.S. Securities and Exchange Commission (SEC) Initiatives

SEC Chair Paul Atkins has announced plans to modernize existing rules to facilitate the registration and management of crypto assets under U.S. securities laws. This initiative aims to provide clear guidelines for the issuance, custody, and trading of crypto assets, distinguishing between securities and non-securities. Atkins emphasized the importance of replacing the current patchwork of guidance with formal commission action to ensure consistent and transparent regulation in the crypto space.

State-Level Actions

Arizona has become the second U.S. state, after New Hampshire, to establish a cryptocurrency reserve fund. Governor Katie Hobbs signed legislation creating the Bitcoin and Digital Assets Reserve Fund, which also updates unclaimed property laws to address virtual currency. This move reflects a broader effort to integrate digital assets into state financial practices and modernize laws in line with the evolving financial landscape.

Corporate Actions

American Bitcoin's Public Listing

American Bitcoin, a cryptocurrency mining firm co-founded and backed by Eric Trump and Donald Trump Jr., has announced plans to go public on the Nasdaq through an all-stock merger with Gryphon Digital Mining. The merger is slated to close in the third quarter of 2025, with Eric Trump continuing as Chief Strategy Officer. This initiative aligns with President Donald Trump's pro-crypto agenda, aiming to create a premier platform for Bitcoin accumulation and tap into growing investor interest in crypto-related equities.

Exchange-Traded Funds (ETFs) Growth

State Street forecasts that cryptocurrency exchange-traded funds (ETFs) will surpass the combined assets of precious metal ETFs in North America by the end of the year. This projection positions crypto ETFs as the third-largest asset class in the $15 trillion ETF industry, trailing only equities and bonds. The rapid growth in demand for crypto ETFs has been surprising, with significant interest from financial advisers. BlackRock has included Bitcoin in its model portfolios through its $58 billion iShares Bitcoin Trust ETF. Despite a recent sell-off in the crypto market, spot cryptocurrency ETFs, approved in the U.S. last year, have reached $136 billion in assets.

Market Performance

Bitcoin (BTC)

Bitcoin is currently trading at $102,861, reflecting a slight decrease of 1.15% from the previous close. The intraday high reached $105,525, with a low of $101,065.

Ethereum (ETH)

Ethereum's price stands at $2,493.11, marking a 0.59% decline. The intraday high was $2,600.58, and the low was $2,434.03.

XRP

XRP is trading at $2.54, showing a 7.17% increase from the previous close. The intraday high and low were $2.62 and $2.36, respectively.

Cardano (ADA)

Cardano's price is currently $0.818578.

Dogecoin (DOGE)

Dogecoin is trading at $0.231239.

Polkadot (DOT)

Polkadot's price stands at $5.07.

Uniswap (UNI)

Uniswap is trading at $6.89.

Litecoin (LTC)

Litecoin's price is currently $104.01.

Chainlink (LINK)

Chainlink is trading at $16.74.

Conclusion

The cryptocurrency market on May 13, 2025, is characterized by significant regulatory advancements, strategic corporate moves, and dynamic market performance. The SEC's initiative to establish clear guidelines for crypto assets, Arizona's creation of a cryptocurrency reserve fund, and the public listing plans of American Bitcoin underscore the growing integration of digital assets into mainstream financial systems. Concurrently, the market exhibits both gains and losses across various cryptocurrencies, reflecting the sector's inherent volatility and the influence of broader economic factors.