Bitcoin traded down across all sessions, currently at $62,317, marking a 1.3% decrease. There was a net inflow session for GBTC on May 6th, turning to outflow on May 7th. Notable news includes Grayscale withdrawing its Ethereum futures ETF application, 98% of FTX creditors expected to receive at least 118% of their claims, and Robinhood's anticipated highest quarterly revenue since the meme stock frenzy. Project updates feature Bybit endorsing USDE token as collateral, Botanix Labs raising $8.5 million, and the listing of NEAR and AIOZ on Bithumb. The top gainers in the past 24 hours were RDNR, KAS, and TRX, while the top losers were WIF, HBAR, and TAO.

HBAR

NEAR

AIOZ

<article target="_blank"><ul><li><p>$BTC traded down across all sessions and is currently at $62,317, down 1.3%. We observed another net inflow session on May 6th with a small positive inflow for $GBTC, but early reports indicate that $GBTC has turned to outflow on May 7th.</p></li><li><p>A few notable headlines include Grayscale withdrawing its Ethereum Futures ETF application, 98% of FTX creditors expected to receive at least 118% of their approved claims, and Robinhood poised to report its highest quarterly revenue since the meme stock frenzy.</p></li><li><p>Project updates include Bybit endorsing USDe Token as collateral for derivatives trading, Botanix Labs raising $8.5 million, and the listing of $NEAR and $AIOZ on Bithumb.</p></li><li><p>In the past 24 hours, the top three gainers were $RDNR, $KAS, and $TRX, while the top three losers were $WIF, $HBAR, and $TAO.</p></li></ul></article>

Daily Market Brief: Bitcoin Declines, Grayscale Withdraws ETF Application, and Robinhood's Revenue Surge