{"id":17533,"date":"2025-05-07T15:54:34","date_gmt":"2025-05-07T15:54:34","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/07\/crypto-market-recap-new-hampshire-first-for-state-crypto-reserves-trumps-ventures-stir-controversy\/"},"modified":"2025-05-07T15:54:34","modified_gmt":"2025-05-07T15:54:34","slug":"crypto-market-recap-new-hampshire-first-for-state-crypto-reserves-trumps-ventures-stir-controversy","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/07\/crypto-market-recap-new-hampshire-first-for-state-crypto-reserves-trumps-ventures-stir-controversy\/","title":{"rendered":"Crypto Market Recap: New Hampshire First for State Crypto Reserves, Trump\u2019s Ventures Stir Controversy"},"content":{"rendered":"<\/p>\n
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Here\u2019s a quick recap of the crypto landscape for Wednesday (May 7) as of 9:00 a.m. UTC.<\/strong><\/p>\n

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.<\/p>\n

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Bitcoin and Ethereum price update <\/h3>\n

Bitcoin (BTC) <\/strong>was priced at US$97,046.21 as markets opened up 3.3 percent in 24 hours. The day\u2019s range has seen a low of US$93,592.03 and a high of US$97,511.91.<\/p>\n<\/div>\n

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Bitcoin performance, May 7, 2025.<\/em><\/p>\n

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Chart via TradingView<\/p>\n

This upward movement is largely attributed to investor anticipation surrounding the Federal Reserve\u2019s upcoming interest rate decision. Analysts suggest that expectations of dovish signals from the Fed are fueling bullish sentiment in the crypto market
Ethereum (ETH) <\/strong>stated the day at US$1,840.64, a 3.3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,757.78 and saw a daily high of US$1,845.61.<\/p>\n<\/div>\n

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Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> reached its peak at the end of the day, hitting a value of US$147.73, up 3.1 percent over 24 hours. SOL experienced a low of US$141.90.<\/p>\n

XRP<\/strong> is trading at US$2.15, reflecting a 1.7 percent increase over 24 hours and its highest point of the day. The cryptocurrency recorded an intraday low of US$2.09. <\/p>\n

<\/span>Sui (SUI)<\/strong> is priced at US$3.42, showing an increase<\/em>of 4.5 percent over the past 24 hours. It achieved a daily low of US$3.14 and a high of US$3.43. <\/p>\n

<\/span>Cardano (ADA)<\/strong> is trading at US$0.6752, up 3.6 percent over the past 24 hours. Its lowest price of the day was US$0.6448, and it reached a high of US$0.6875.<\/p>\n<\/div>\n

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Today\u2019s crypto news to know <\/h3>\n

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New Hampshire becomes first state to launch crypto reserve<\/h4>\n

New Hampshire has officially become the first US state to greenlight a cryptocurrency reserve after Governor Kelly Ayotte signed House Bill 302 into law. <\/p>\n<\/div>\n

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The measure authorizes the state treasurer to invest up to 5 percent of public funds in digital assets with a market cap above US$500 billion\u2014effectively limiting the scope to Bitcoin for now. <\/p>\n

The assets, along with precious metals, will be held either via a secure custodian or an exchange-traded product. The law goes into effect in 60 days and marks a significant milestone in state-level crypto adoption. <\/p>\n

Unlike the federal government\u2019s stagnant plans for a bitcoin reserve, New Hampshire is moving ahead with direct investment. Advocates hope the move will inspire similar initiatives in other states and potentially drive further institutional interest in Bitcoin.<\/p>\n

Trump\u2019s crypto projects spark legislative gridlock on Capitol Hill<\/h4>\n

President Donald Trump\u2019s growing involvement in the crypto sector is intensifying partisan divisions in Congress and jeopardizing progress on digital asset legislation. <\/p>\n

A hearing that was set to lay groundwork for crypto market regulation was abruptly cancelled after Rep. Maxine Waters voiced strong objections, citing Trump\u2019s self-promotional crypto ventures as a conflict of interest. <\/p>\n

Trump\u2019s $TRUMP meme coin and his partial ownership of World Liberty Financial have drawn criticism from ethics experts and lawmakers alike. Democrats argue that advancing regulation while the former president promotes personal crypto investments creates a perception of impropriety. <\/p>\n

Meanwhile, the administration defends the projects, stating Trump\u2019s assets are held in a trust and pose no conflict. Nonetheless, legislative momentum on crypto has clearly slowed, with bipartisan collaboration now under strain.<\/p>\n

BlackRock\u2019s Bitcoin ETF outpaces gold funds in 2025 Inflows<\/h4>\n

Despite gold outperforming bitcoin in price appreciation this year, BlackRock\u2019s spot Bitcoin ETF (IBIT) has outshined traditional gold funds in net inflows. <\/p>\n

Since January, IBIT has drawn nearly US$7 billion, surpassing the SPDR Gold Trust, which brought in US$6.5 billion over the same period. <\/p>\n

The ETF\u2019s success comes even as Bitcoin prices have lagged behind gold\u2019s recent surge, reflecting institutional faith in digital assets\u2019 long-term value. <\/p>\n

Analysts say this trend underscores a shift in investor behavior, with many viewing Bitcoin as a digital complement\u2014or even replacement\u2014for gold. <\/p>\n

Analysts now believe bitcoin ETFs could triple gold\u2019s assets under management within the next five years. <\/p>\n

Crypto gains traction in New Jersey democratic primary<\/h4>\n

Democratic gubernatorial hopefuls in New Jersey are leaning into crypto policy as a key plank of their campaigns, signaling a broader political shift. <\/p>\n

A Bloomberg exclusive reports that leading candidates like Rep. Mikie Sherrill and Jersey City Mayor Steve Fulop have publicly endorsed integrating digital assets into state governance. <\/p>\n

Fulop even proposes allocating part of the state\u2019s pension fund to Bitcoin ETFs, a move he previously advanced at the city level. Rep. Josh Gottheimer, another contender, has framed crypto as a driver of economic growth and has backed federal legislation aimed at regulating the industry. <\/p>\n

With Donald Trump having successfully capitalized on crypto enthusiasm in his reelection campaign, Democrats are recalibrating their stance to stay competitive. <\/p>\n

The growing acceptance of digital assets among candidates suggests crypto will remain a prominent topic in the 2025 election cycle.<\/p>\n

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/div>\n

Keep reading\u2026<\/span>Show less<\/span><\/div>\n<\/p>\n
This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Wednesday (May 7) as of 9:00 a.m. UTC. Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news. Bitcoin and Ethereum price update Bitcoin (BTC) was priced at US$97,046.21 as markets opened up 3.3 percent in 24 hours. […]<\/p>\n","protected":false},"author":0,"featured_media":17534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17533"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17534"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}