Cryptocurrencies performed well last week, with Bitcoin soaring to its highest level since February and the market cap of all coins jumping to over $3 trillion. The main catalyst for Bitcoin (BTC) and other altcoins this week will be the…

Cryptocurrencies to watch this week: Immutable, Ethena, IOTA

The government of Maldives signed an agreement with MBS Global Investments, a 
Dubai-based family office, to develop a $9 billion crypto and blockchain hub 
in Male, the capital of the South Pacific archipelago nation.
According to a report from the Financial Times, the agreement, which was 
signed on May 4, was done in the hopes of moving the Maldives away from 
reliance on tourism and fisheries by attracting foreign direct investment into 
blockchain and Web3 technologies.
The project outlines plans for the Maldives International Financial Centre, an 
830,000-square-meter facility that will reportedly employ up to 16,000 
individuals.
Completing the project will take an estimated five years and the capital 
requirements for the ambitious development are more than the $7 billion in 
annual gross domestic product (GDP) of the Maldives.
_The geographic location of Maldives. Source:__Worldometer_
The planned crypto hub reflects the growing importance of the crypto industry 
worldwide. However, the Maldives&#8217; ambitions to become a global center for 
financial technology must contend with well-capitalized, established 
jurisdictions like Dubai, Singapore, and Hong Kong.
_**Related:**__**Slovenia &#8216;s capital of Ljubljana ranked as world&#8217;s most 
crypto-friendly city**_
## Established crypto and fintech hubs already on the scene
Dubai, in the United Arab Emirates (UAE), is a rapidly growing crypto and Web3 
hub thanks to its positive regulatory environment that encourages innovation 
and a local government willing to explore blockchain technology in real-world 
applications.
On April 6, Dubai&#8217;s Land Department (DLD) and the Virtual Assets Regulatory 
Authority (VARA) signed an agreement to connect the land registry to 
blockchain, allowing for more comprehensive real estate tokenization.
Hong Kong has also positioned itself as a crypto hub through proactive 
regulations that have attracted hundreds of Web3 and fintech firms.
According to Ivan Ivanov, global CEO of WOW Summit, a blockchain conference in 
Hong Kong, the special economic zone leverages its position as a bridge 
between Western economies and China to attract investment and serves as a 
regulatory sandbox.
Singapore is also a major international crypto center, with dozens of digital 
asset exchanges based inside the country and hundreds of Web3 firms 
headquartered there.
The country continues to attract global investment through a regulatory 
approach that encourages technological experimentation without fear of 
regulatory reprisal.
_**Magazine:**__**Crypto City: Guide to Dubai**_

Maldives to build $9 billion crypto hub to attract investment: Report

The Nigeria Customs Service (NCS) has successfully piloted its Electronic 
Currency Declaration Form (E-CDF) at Nnamdi Azikiwe International Airport in 
Abuja, as part of its digital transformation efforts to enhance border 
security and financial disclosure transparency. The pilot, which began on 
April 9, 2025, processed 69 transactions, with outbound declarations 
($1,200,281.22) making up 51% and […]

Nigeria Customs Pilots Electronic Currency Declaration at Abuja Airport

The Bitcoin price appeared to have reached its top in this current cycle, 
embarking on a downward trend after notching a new all-time high of $108,786 
at the beginning of the year. The story seems to be changing again for the 
premier cryptocurrency, as it builds on recent bullish momentum and looks to 
reclaim the $100,000 level. When Will BTC Price Reach The Cycle Top? In a 
recent post on the X platform, crypto analyst Brett put forward an interesting 
analysis of the Bitcoin price structure and its potential trajectory in what 
remains of the current cycle. This evaluation looks at the price of BTC from 
the cycle “bottom to present” and “present to top.” Related Reading: Solana 
Rebound To $900 Is Coming, But This Resistance Stands In The Way Using the 
previous two cycles as a foundation, Brett was able to calculate the number of 
days it took the Bitcoin price to travel from the bottom to the present and 
from the present to the top. In the chart below, the “blue” box represents the 
amount of time since the last bottom, while the “green” box represents the 
amount of time from “present” to the cycle tops. Brett noted that the amount 
of time between the Bitcoin price bottom in 2022 and the present day is 
exactly 903 days. As observed in the highlighted chart, the analyst transposed 
this same period on the previous two cycles (starting at the 2015 and 2018 
bottoms, respectively). In the previous two cycles, the Bitcoin price reached 
a new all-time high or the cycle peak 161 days after the highlighted 903-day 
period (after the bottom). In 2017, it took the flagship cryptocurrency 161 
days to reach a then-all-time high of around $16,000. Similarly, the BTC price 
also reached the cycle top around $69,000 after 161 days in 2021. From this 
historical perspective, this pattern suggests that the current cycle’s top for 
the Bitcoin price could be just 161 days away. If the pattern holds and the 
current price trajectory continues, this would place the premier 
cryptocurrency’s peak at exactly October 11, 2025. However, it is worth 
mentioning that there have been questions about the Bitcoin price following 
the typical cycle theory. With the bull run initially pronounced over at the 
start of 2025, the recent positive price action in the market seems to oppose 
the expected cyclical price movement. Bitcoin Price At A Glance As of this 
writing, the price of BTC stands at around $96,500, reflecting an almost 1% 
decline in the past 24 hours. Related Reading: Bitcoin Could See A Weekend 
Rally To $100,000 – Is BTC Ready For New Highs? Featured image from iStock, 
chart from TradingView.

Analyst Identifies When Bitcoin Price Will Reach Cycle Top — Here’s The Timeline

Beginning in June, South Korean nonprofit organizations and virtual asset 
exchanges will be permitted to trade digital assets freely. Exchanges can sell 
virtual assets under strict regulatory conditions to prevent conflicts of 
interest and minimize market impact. Promoting a Sound Donation Culture South 
Korean nonprofit organizations and virtual asset exchanges will be allowed to 
freely […]

Report: South Korea to Allow Free Crypto Trading for Non-Profits, Exchanges in June

While Bitcoin hovers around $95,400, several gaming and social tokens like 
BitBoard (BB) and Clash of Lilliput (COL) are leading the pack with notable 
24-hour increases. BitBoard has surged 104% in the last 24 hours, trading at 
$0.006162 from a…