Crypto Roundup: Bitcoin Surges, Cardano’s $100T Ambition & Maldives' Blockchain Bet

Bitcoin Maintains Value Above $95,000 Despite Weak Blockchain Activity

According to Bitcoinist.com, Bitcoin's price has remained resilient, holding above $95,000 and currently standing at approximately $96,150, despite a notable decline in blockchain activity. This represents an over 1% decrease in the past 24 hours, but the cryptocurrency is still up nearly 2% on the weekly timeframe, as per CoinGecko data.

On-chain analytics firm Alphractal attributes this phenomenon to several factors. The approval of US spot exchange-traded funds (ETFs) in January 2024 has shifted the primary driver of Bitcoin's value from blockchain activity to capital inflows through these financial products. Additionally, historically low market volatility has led to reduced on-chain activity, as traders are less incentivized to take new positions. Speculative trading through derivatives and other financial instruments has also played a significant role in supporting Bitcoin's price, while everyday adoption and practical demand for the network have diminished. Macroeconomic uncertainty has further contributed to investor caution, with many waiting for clearer bullish signals. Alphractal also points to artificially inflated exchange volumes as a factor creating a misleading sense of activity.

BTC Price	24h Change	Weekly Change
$96,150	-1%	+2%

Summary: Bitcoin's price stability above $95,000 is now more closely tied to ETF inflows and speculative trading than to traditional on-chain activity, according to Bitcoinist.com and Alphractal.

Cardano’s Midnight Sidechain Targets $100 Trillion Market for Blockchain-Based Stocks

The Crypto Basic reports that Cardano founder Charles Hoskinson has outlined an ambitious vision for Midnight, Cardano’s data protection-focused sidechain. Hoskinson stated that Midnight was “built for stocks on the blockchain,” aiming to provide full privacy, programmability, and interoperability to facilitate the tokenization of real-world assets, particularly equities.

Midnight leverages zero-knowledge (ZK) cryptography to enable confidential smart contracts, positioning itself as a key infrastructure layer for real-world asset tokenization. Hoskinson estimates that this infrastructure could open access to a $10 trillion market today, with the potential to scale toward $100 trillion. The protocol integrates consensus mechanisms from Aptos, development components from the Polkadot SDK, and privacy features inspired by Zcash. Midnight’s architecture is designed to allow AI to access private data without breaching ownership rights, providing a controlled and transparent framework for secure data interaction.

Stablecoins are highlighted as a primary use case, with Hoskinson noting that they account for over 73% of Ethereum’s economic activity and represent a total market size exceeding $250 billion. Midnight’s expansion includes institutional collaborations, such as joining the Confidential Computing Consortium under the Linux Foundation alongside Microsoft and Amazon. The protocol is also set to make Cardano a multichain network, enabling interoperability with Ethereum and Solana, and has partnered with Fairgate Labs to advance its cross-chain vision.

Midnight targets a $10 trillion current market, with potential to reach $100 trillion.
Stablecoins represent over 73% of Ethereum’s economic activity and a $250 billion market.
Institutional collaborations include joining the Confidential Computing Consortium.

Summary: Cardano’s Midnight sidechain aims to revolutionize stock trading on the blockchain, targeting a $100 trillion market opportunity with advanced privacy and interoperability features, as reported by The Crypto Basic.

Maldives Announces $9 Billion Blockchain Hub to Attract Investment

The Financial Times reveals that the Maldives, facing a looming debt crunch, has partnered with Dubai-based MBS Global Investments to build a $9 billion “blockchain and digital assets” financial hub. The planned investment, which exceeds the Maldives’ annual GDP of around $7 billion, is intended to diversify the country’s economy beyond tourism and fisheries.

MBS Global Investments, managing assets worth approximately $14 billion, has already secured firm commitments “north of” $4 billion-$5 billion for the project. The Maldives International Financial Centre will span 830,000 square meters, accommodate 6,500 people, and provide employment for 16,000 in the capital Malé. The hub aims to triple the Maldives’ GDP within four years and generate revenue of “well over $1 billion by the fifth year.” The initiative follows a $760 million bailout from India and comes as the Maldives faces external debt obligations of $600 million-$700 million due this year and around $1 billion in 2026, including a $500 million sukuk.

Project Investment	Maldives GDP	Hub Size	Employment	Revenue Target (Year 5)
$9 billion	$7 billion	830,000 sq m	16,000	Over $1 billion

Summary: The Maldives is launching a $9 billion blockchain hub to diversify its economy and address debt challenges, with the project expected to triple GDP and generate over $1 billion in annual revenue by year five, according to the Financial Times.

Worldcoin’s Biometric Blockchain Orbs Launch Across the United States

According to theregister.com, the World project (formerly WorldCoin), co-founded by OpenAI’s Sam Altman, has officially launched its biometric blockchain orbs in six US cities: Austin, Atlanta, Los Angeles, Miami, Nashville, and San Francisco. These stores invite users to have their irises scanned by a metal orb, creating a blockchain-based World ID to verify their humanity online. Participants receive Worldcoins worth a little over $16 as an incentive.

The World system includes the Orb (for biometric scanning), World ID (proof-of-personhood), the World App, and the Worldcoin cryptocurrency. The project claims to have 26 million users globally, with 12 million having added their biometric data. Despite regulatory scrutiny and actions in countries like South Korea, Hong Kong, Germany, Kenya, and Spain, the US launch is moving forward. The company aims to have 7,500 Orbs deployed across the US by year-end, quadrupling the current installed base. Partnerships announced include a Visa-backed debit card and Match.com in Japan using World ID for user verification.

Worldcoin app credited with over $16 in tokens per user scan.
26 million global users, 12 million with biometric data.
Goal: 7,500 Orbs in the US by year-end.

“I’m a very proud American, I think America should lead innovation, not fight it off,” said Sam Altman at the US launch event.

Summary: Worldcoin’s biometric blockchain orbs are now available in six US cities, offering users a unique digital identity and crypto rewards, with plans to expand to 7,500 devices nationwide, as reported by theregister.com.

Binance Partners with Kyrgyzstan to Advance Crypto Payments and Blockchain Education

FinanceFeeds reports that Binance has entered a strategic partnership with the Kyrgyz Republic to accelerate the country’s digital transformation. The agreement, formalized on May 4, 2025, includes the rollout of Binance Pay, a contactless cryptocurrency payment solution, across Kyrgyzstan. This initiative aims to facilitate secure, efficient, and borderless digital transactions, enhancing financial inclusion and integrating Kyrgyzstan into broader crypto-enabled economic networks, especially within the Eurasian Economic Union (EAEU).

Another key aspect is the implementation of national blockchain education programs. Binance Academy will collaborate with government agencies, universities, and financial institutions to deliver tailored curricula and workshops, targeting civil servants, banking professionals, entrepreneurs, and students. The partnership also involves developing digital asset infrastructure, exploring blockchain use cases in the public sector, establishing a national Bitcoin reserve strategy, and supporting the pilot and potential nationwide deployment of the digital som, Kyrgyzstan’s central bank digital currency (CBDC).

President Sadyr Japarov signed a constitutional law in April 2025 granting legal tender status to the digital som, making Kyrgyzstan one of the few countries to institutionalize a CBDC through constitutional reform. Binance founder Changpeng Zhao has agreed to advise Kyrgyz officials on blockchain strategy and crypto regulation.

Binance Pay to be rolled out nationwide in Kyrgyzstan.
National blockchain education programs to improve digital literacy.
Support for digital som CBDC and national Bitcoin reserve strategy.

Summary: Binance’s partnership with Kyrgyzstan aims to boost crypto payments, blockchain education, and digital asset infrastructure, positioning the country as a regional leader in digital finance, according to FinanceFeeds.

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