According to Huoxun Finance, CryptoQuant analyst Oro Crypto stated that Bitcoin's Adjusted Spending-to-Profit Margin (aSOPR) has returned to a structurally critical zone, remaining above 1 for nine consecutive trading days since May 1st, indicating sustained profitable selling in the market. An aSOPR greater than 1 means that the average amount of BTC spent is in a profitable selling state, while a value less than 1 indicates loss-making. This nine-day streak reduces noise interference, showing a substantial shift in market structure. A similar consecutive profitable sequence appeared from October 19th to November 4th, 2025, during which BTC also experienced several consecutive days of on-chain profitable spending. Currently, Bitcoin is absorbing profit-taking pressure, the price structure has not immediately deteriorated, and the market has sufficient absorption capacity. This reading does not indicate a frenzied phase, but only suggests that the market has shifted from loss-making to a phase of sustained profitability for participants. As long as aSOPR remains above 1, the market structure remains constructive, with participants realizing profits while the market maintains its absorption capacity. The key failure level is when the indicator consistently falls below 1, at which point the market will return to a state of loss-making tokens, weakening the current constructive signal. This is the most significant positive sequence since October-November 2025, and its persistence makes aSOPR a constructive signal reflecting improvements within the market.

According to Huoxun Finance, OneBullEx officially announced that its May Member Day event has begun. This month, the event continues to support a 1:1 exchange of OBE points for USDT, with a total prize pool of 300,000 USDT. The event will run from 11:00 AM to 8:00 PM (GMT+4) on May 11th, with 10 exchange sessions, each with approximately 1500 slots available on a first-come, first-served basis. Each exchange requires 20 points, and the USDT will be credited directly to the user's account. Participation requires a minimum of 500 points in the account. Specific rules are detailed on the event page. OneBullEx has designated the 11th of each month as its fixed Member Day, using mechanisms such as points exchange, task incentives, and community interaction to enhance user engagement and platform activity. The current 1:1 OBE points to USDT exchange mechanism is now operating periodically, making Member Day a core benefit of its points system.

According to an analysis by Galaxy Digital, seven Democratic senators on the U.S. Senate Banking Committee are a key force in pushing for the passage of the Clarity Act for Digital Asset Markets, which will enter committee consideration on Thursday. Ruben Gallego and Angela Alsobrooks are labeled as constructive/supportive of a crypto regulatory framework; Mark Warner, Catherine Cortez Masto, Andy Kim, and Raphael Warnock are listed as conditional facilitators, having previously voted in favor of the GENIUS Act but demanding stronger anti-money laundering safeguards; Lisa Blunt Rochester's stance is undecided, having previously supported a crypto framework but voted against the GENIUS Act. Galaxy Digital states that if Democratic senators vote in favor during the consideration, the bill's probability of passing the full Senate will significantly increase. The bill requires the support of at least half of the 24 members of the Banking Committee to proceed to a full Senate vote. Coinbase's Vice President of U.S. Policy, Kara Calvert, points out that the bill needs at least 60 votes and bipartisan support in the Senate to become law. The CLARITY Act was proposed in July 2025, but was stalled in January of this year when Coinbase withdrew its support.

Odaily Planet Daily reports that Vitalik Buterin published a research paper on May 10th, proposing to replace traditional on-chain transfer solutions with zero-knowledge proof (ZK) transactions, pushing crypto payments from "pseudo-anonymity" to "default privacy." This solution allows users to complete payment verification without disclosing their complete balance and transaction history. Vitalik specifically mentioned that in the era of AI agents, autonomous AI agents need to pay service fees such as LLM APIs without leaving traceable records. He stated that through recursive SNARKs and ZK API point mechanisms, Ethereum Layer 2 can achieve private payments at speeds and costs approaching transparent transactions. Furthermore, the proposal includes selective disclosure and "proof of innocence" mechanisms, allowing users to provide compliance proofs to regulatory or tax authorities without disclosing their on-chain private data, thus meeting anti-money laundering requirements. Vitalik believes that the transparency of blockchain technology is a significant obstacle to the widespread adoption of crypto payments.

According to Coinglass data, whales on the Hyperliquid platform currently hold $4.309 billion in positions, with long positions accounting for $2.104 billion (48.84%) and short positions accounting for $2.204 billion (51.16%). Long positions have a total profit of $43.8603 million, while short positions have a loss of $80.8449 million. Another whale address, 0xa5b0..41, went all-in on ETH at $2265.48 with 15x leverage, and currently has an unrealized profit of $2.5844 million.