VRA rallied as high as 45% today, breaking out of a bullish pattern following new partnerships while outpacing a broader market downturn. Verasity (VRA) surged to an intraday high of $0.0032 on May 6 during afternoon Asian trading, pushing its…

Verasity’s VRA bucks market downturn with 45% rally

Investment bank Citi and Switzerland&#8217;s SIX Digital Exchange (SDX) are teaming 
up to modernize traditional private markets through tokenization.
The initiative, revealed during the Point Zero Forum in Switzerland, will 
leverage SDX&#8217;s blockchain-based Central Securities Depositary (CSD) platform 
to tokenize, settle, and safekeep assets, according to a May 6 announcement.
The platform, expected to go live by the third quarter of 2025, will make 
late-stage, pre-initial public offering (IPO) equities accessible to 
institutional and eligible investors globally.
For issuers, the project offers a compliant and scalable framework to manage 
liquidity, particularly for early investors and employees, while maintaining 
cap table control. For investors, it opens access to high-growth, venture- 
backed companies in a more efficient and transparent manner.
&#8220;We are excited to welcome Citi to the SDX platform and together deliver this 
landmark project in the tokenization of private shares,&#8221; said David Newns, 
head of SDX.
Newns added that this will &#8220;enable the efficient distribution of shares in 
mature international private companies, which are expected to generate strong 
investor interest.&#8221;
_Citi announcing the partnership. Source: Citi_
 _**Related: **__**Real-world asset tokenization: Unlocking a new era of 
finance**_
## Citi to provide servicing for tokenized assets
Citi will provide end-to-end servicing for these tokenized assets as the 
digital custodian and tokenization agent. &#8220;We are meeting client demand for 
access to emerging and relevant digital asset ecosystems and investments,&#8221; 
added Ryan Marsh, head of innovation at Citi.
Marni McManus, Citi&#8217;s country officer for Switzerland, said private markets 
represent a major and growing opportunity, helping digitize an industry still 
reliant on manual processes and paper-based documentation.
Citi has been among the earliest major financial institutions to express 
strong confidence in the future of tokenization, even betting that it would 
become the next &#8220;killer use case&#8221; in crypto.
In September 2023, Citigroup introduced Citi Token Services, a private, 
permissioned blockchain that offers cross-border payments, liquidity and 
automated trade finance solutions to institutional clients.
In early 2024, Citigroup teamed up with Ava Labs, other traditional financial 
institutions and digital asset companies to complete a proof-of-concept for 
tokenizing private equity funds.
_**Related: **__**$21B tokenized RWA market doubtful, institutions 
uninterested &#8212; Plume CEO**_
## RWA tokenization gains traction
Citi and SDX&#8217;s new initiative comes amid a renewed wave of interest in real- 
world asset (RWA) tokenization, with major players from both traditional 
finance and crypto making headlines last week.
On April 30, BlackRock filed to create a blockchain-based share class for its 
$150 billion Treasury Trust Fund, allowing a digital ledger to mirror investor 
ownership. On the same day, Libre revealed plans to tokenize $500 million in 
Telegram debt via its new Telegram Bond Fund.
The most significant news came from Dubai, where MultiBank Group inked a $3 
billion tokenization deal with UAE real estate firm MAG and blockchain 
provider Mavryk.
&#8220;The recent surge isn&#8217;t arbitrary. It&#8217;s happening because everything&#8217;s lining 
up,&#8221; Eric Piscini, CEO of Hashgraph, told Cointelegraph:
&gt; &#8220;Rules are getting clearer in major markets. The tech is stronger, faster, 
&gt; and ready to scale. And big players are actually doing it &#8212; BlackRock is 
&gt; tokenizing funds, Citi is exploring digital asset custody, and Franklin 
&gt; Templeton has tokenized money market funds on public blockchains.&#8221;
_**Magazine: **__**Tokenizing music royalties as NFTs could help the next 
Taylor Swift**_

Citi and SDX partner to tokenize traditional private markets

The United States Department of the Treasury has imposed sanctions on the 
Karen National Army, a Burmese militia group, accusing it of orchestrating 
large-scale crypto scams alongside other offences. The sanctions were 
announced on May 5 in a press release…

U.S. Treasury sanctions Burmese militia group over crypto pig butchering scams

On Monday, two long-dormant wallets—first activated in July 2013, precisely a 
decade and ten months ago—moved 3,421 bitcoin valued at $322.5 million, 
marking their first transaction since inception. Long-Dormant Silk Road 
Wallets Move Millions in Bitcoin Data compiled on May 5, 2025, reveals two 
separate transactions (1,2) originating from wallets established in July 2013. 
The […]

Ghosts of the Silk Road: Dormant Wallets Move Over $322M in Bitcoin

Bitcoin dipped marginally after reaching a new peak above $97,000 on May 2. It 
retreated to just below $94,000, a 3% to 4% decline from its recent high. 
Although short-term price movements are keeping traders nervous, longer-term 
on-chain data is beginning to exhibit signs that may influence what happens 
next. Related Reading: BNB Bulls Target $644 As Classic Chart Formation 
Emerges Index Reading Indicates A Potential Early Bull Market One gauge, which 
is referred to as the Bitcoin Composite Index v2.0, is now standing at a 
reading of 0.8. The index mixes price action with blockchain activity and 
attempts to weigh where Bitcoin could be going. For analyst Constantin Kogan, 
a reading on this scale has previously appeared ahead of some massive price 
rallies, such as in 2017 and 2021. Kogan described how if this number rises to 
1.0 and holds, Bitcoin may begin to accelerate significantly faster. The index 
isn&#8217;t quite there now—but it&#8217;s heading in the right direction. One of the most 
important components of the index, the &#8220;Running ATH Price,&#8221; has begun trending 
upward too. This suggests that additional buyers are entering the market and 
faith may be on the rise. 📈 The upward momentum in Bitcoin is just starting to 
build, with on-chain metrics like the Bitcoin Composite Index signaling the 
beginning of a bull market. The index has already reached 0.8 (80%). Here are 
three possible scenarios: 🚀 Bullish: BTC could surge to… 
pic.twitter.com/8bZ4vmr2CH — Constantin Kogan (@constkogan) May 4, 2025 Price 
Target May Hit $175K If Momentum Continues If Bitcoin maintains its momentum 
and drives the Composite Index to more than 1.0, analysts predict the price to 
rise sharply. The target range given is between $150,000 and $175,000. That&#8217;s 
if bullish momentum accelerates and past trends are repeated. But if the index 
remains wedged between 0.8 and 1.0, Bitcoin may stall for a bit. That means a 
range-bound market, ranging from $90,000 to $110,000. Kogan also highlighted a 
third, less probable route—if the index falls below 0.75. Then Bitcoin may 
correct back to $70,000 to $85,000. Supply Data Shows Where Buyers Stepped In 
The second part of the puzzle is from the UTXO Realized Price Distribution 
chart, also referred to as the URPD chart. Provided by analyst Checkmate, it 
plots where the holders of Bitcoin last transferred their coins. This provides 
a sense of who purchased when—and at what price. A huge segment of buyers 
appears to have entered between $93,000 and $98,000. That region is currently 
behaving as a crucial supply zone. It&#8217;s the region where investors have just 
bought Bitcoin and may hold on or sell based on what follows. Related Reading: 
TRUMP Token Bloodbath: Whales Lose Big In $8.58 Million Sell-Off Market Awaits 
Clear Move From Current Zone Bitcoin is squarely in the middle of that range 
at about $94,000. As Checkmate points out, the next move will depend on 
whether price breaks out strongly or gets rejected. A strong breakout, 
evidenced by a powerful daily candle, could turn recent supply into profit and 
propel prices higher. But if the price can&#8217;t rise through this area, it could 
create a lower high and attract additional selling pressure. For the moment, 
Bitcoin sits in wait mode. Traders and analysts are monitoring both the 
Composite Index and supply figures to determine whether the current lull 
becomes the next leg up—or a further step down. Featured image from Gemini 
Imagen, chart from TradingView

Is This The Spark? New Bitcoin Metric Points To Bullish Shift

**Key points:**
 * Bitcoin is struggling again as gold retakes the limelight with week-to-date gains of nearly 5%.
 * Bitcoin&#8217;s correlation with gold is under scrutiny amid ongoing macroeconomic shifts.
 * Traders see a short-term slump amid a wider BTC price rebound.
Bitcoin (BTC) eyed fresh month-to-date lows into the May 6 Wall Street open as 
&#8220;directionless&#8221; crypto markets contrasted with a gold rebound.
_BTC/USD 1-hour chart. Source: Cointelegraph/TradingView_
## Analysis: Bitcoin, crypto &#8220;largely directionless&#8221;
Data from Cointelegraph Markets Pro and TradingView showed BTC price momentum 
stalling at $95,000 before the latest daily close.
Inching closer to the key yearly open support level at $93,500, BTC/USD 
appeared caught in limbo while gold returned to outperform.
XAU/USD was up 1.5% on the day at the time of writing, with week-to-date gains 
already at 4.4%.
_XAU/USD 1-hour chart. Source: Cointelegraph/TradingView_
&#8220;Crypto implied vols remain suppressed, with front-end skew drifting back 
toward neutral and spot largely directionless,&#8221; trading firm QCP Capital wrote 
in its latest bulletin to Telegram channel subscribers.
QCP noted various swings across the macro spectrum, with the dollar staying 
lower and emerging market currencies, especially the Taiwanese dollar, surging 
alongside gold.
&#8220;At the same time, the FX shakeup coincides with a nearly 3% surge in gold on 
Monday, as investors lean into the weaker-dollar narrative and price in 
geopolitical risk premia, including prospective US trade diplomacy,&#8221; it 
continued.
With Bitcoin yet to follow suit, QCP saw an &#8220;increasingly binary&#8221; next phase, 
with one outcome being that BTC &#8220;decouples from gold&#8217;s safe haven bid and 
relinks with broader risk proxies.&#8221;
In its own analysis, trading resource The Kobeissi Letter nonetheless saw the 
&#8220;first gold, then Bitcoin&#8221; narrative sticking.
&#8220;In April, Bitcoin joined the gold run, increasing correlation for the first 
time in months. Between April 7th and April 21st, gold surged +15% along with 
+12% in Bitcoin,&#8221; it observed in an X thread on May 5.
&gt; &#8220;The flight to decentralized and inflation-protected assets is strong. Keep 
&gt; watching this trend.&#8221;
_Bitcoin vs. gold comparison. Source: The Kobeissi Letter/X_
## MACD gives BTC bulls pause for thought
Examining technical data, Bitcoin traders suggested that BTC/USD may be 
pausing within a broader comeback.
_**Related:**__**Bitcoin eyes gains as macro data makes US recession 2025 
&#8216;base case&#8217;**_
Evidence for this came from the moving average convergence/divergence (MACD) 
indicator, a measure of trend strength that gave conflicting signals on longer 
and shorter timeframes.
&gt; #btc weekly MACD about to cross bullishly from a position of strength&#8230; 
&gt; pic.twitter.com/x2JjK9rHNW 
&gt; 
&gt; &#8212; dave the wave🌊🌓 (@davthewave) May 6, 2025
Popular trader Dave The Wave revealed a bullish signal on the weekly MACD, 
while daily behavior confirmed a bearish crossing below the zero line.
&#8220;BTC is consolidating between last week&#8217;s high and low, awaiting tomorrow&#8217;s 
FOMC meeting and Jerome Powell&#8217;s speech. Meanwhile, the daily MACD is crossing 
bearish, signaling slowing momentum,&#8221; fellow trader Titan of Crypto 
summarized.
_BTC/USDT 1-day chart with MACD data. Source: Titan of Crypto/X_
His post referred to the week&#8217;s key macro event, the meeting of the Federal 
Reserve to decide on interest rate changes, due on May 7.
Earlier, Keith Alan, co-founder of trading resource Material Indicators, 
warned that the yearly open was unlikely to hold as support.
&#8220;To summarize, I&#8217;ll be pleasantly surprised if the YO holds,&#8221; he told X 
followers.
&gt; &#8220;While I&#8217;m prepared for a wick to to $88k &#8211; $90k range, I think the $91.6k 
&gt; level around the 21 MA is a likely target this week.&#8221;
_BTC/USD 1-week chart with 21SMA. Source: Cointelegraph/TradingView_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.