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Encryption breaks into the mainstream: Well-known trading platform selected for S&P 500 RWA track accelerates development
The crypto market welcomes favourable information as the process of mainstreaming continues.
Recently, favourable information has been frequent in the crypto market. On a macro level, the China-U.S. trade war has come to a pause, and global financial markets have generally risen. Although Bitcoin has adjusted due to anticipated developments, the altcoin market has shown active performance, with Ethereum leading the way and reaching 2700 dollars. The DeFi sector has strengthened across the board, sparking discussions about the return of the altcoin season.
In addition to improvements in the macro environment, new trends have also emerged within the industry. On May 13, a well-known cryptocurrency exchange platform will be included in the S&P 500 index, replacing the soon-to-be-acquired Discover Financial Services, and this change will take effect before trading begins on May 19. This marks a significant breakthrough for the crypto industry in the mainstream market, ushering in a new stage of development. Meanwhile, global enterprises and institutions are increasingly interested in the encryption field.
On May 12, the United States and China reached a tariff truce agreement in Geneva, temporarily ending a long-standing trade dispute. The agreement includes a 90-day suspension of 24% reciprocal tariffs, retaining a 10% basic tax rate, and establishing a third-country consultation mechanism. This news significantly boosted the U.S. stock market, with S&P 500 futures rising over 3% and the Nasdaq closing up 4.35%.
Despite Bitcoin's drop from $106,000 to $100,700, the crypto market as a whole has quickly rebounded, with altcoins represented by ETH, SOL, and BNB showing good performance. As tariff issues are alleviated, the impact of this news on the market will gradually weaken, and the bottom prices of various coins are showing an upward trend.
At the industry level, several pieces of Favourable Information have recently emerged. First, New Hampshire in the United States has passed a strategic Bitcoin reserve bill, authorizing the state treasurer to purchase Bitcoin or digital assets with a market value exceeding $500 billion, with a holding limit of 5% of the total reserve funds, which brings new growth to Bitcoin. Secondly, the newly appointed SEC chairman has clearly stated that a core priority during his term is to establish a reasonable regulatory framework for the crypto market, continuously releasing positive signals. In addition, a large asset management company is rumored to be discussing an ETH staking proposal with the SEC, restoring some market confidence.
Against this backdrop, encryption companies have ushered in a golden period of development. A well-known crypto market trading platform has become the first encryption company to be included in the S&P 500, marking an important milestone in the mainstreaming process of the encryption industry and laying the foundation for the integration of this industry with traditional finance. Although there may not be a significant upward effect in the short term, in the long run, this move represents mainstream market recognition of the encryption industry and is expected to further attract the attention of traditional investors.
At the same time, companies in Hong Kong are actively laying out their strategies in the encryption field, with a particular focus on the RWA (Real World Asset Tokenization) track. Following the Hong Kong Monetary Authority's launch of the Ensemble project to initiate a tokenization sandbox pilot, the RWA track in Hong Kong is experiencing accelerated development once again. Large tech companies are entering the field one after another, such as a fintech company under a certain e-commerce giant that has started to assemble RWA-related teams and is collaborating with licensed virtual banks to explore cross-border payment solutions based on stablecoins. Another well-known tech company has successfully completed the country's first RWA case involving 200 million RMB based on photovoltaic physical assets.
Local enterprises in Hong Kong are also actively promoting RWA projects. A certain blockchain company has reached cooperation intentions for RWA on-chain with over 200 institutions, involving traditional financial institutions, asset management companies, technology enterprises, and various Web3 native projects. In addition, several securities companies have also begun to lay out cryptocurrency-related businesses to provide investors with more participation channels.
Overall, whether it's American crypto companies entering mainstream indices or Hong Kong enterprises promoting RWA, it reflects that the crypto industry is gradually gaining broader recognition. Although the participation methods vary across different regions, the overall trend is positive. With the increasing mainstream acceptance of crypto assets, more companies and institutions will venture into this field, and funds, attention, and resources will further flow into the market. This wave of institutional "FOMO" (Fear of Missing Out) is likely just beginning.