May 5th Weekly Market Recap: Telegram Expands AI Execution

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DeFi Analytics 1st May 2026

This week's edition of our Crypto DeFi Analytics.

Senate Bans Prediction Trading

BTC rose 2% over the last 24 hours to trade above $77K, while the S&P 500 gained 1.02% and is up 10.4% month-to-date, supported by solid US growth data as Q1 GDP expanded at a 2% annualised pace and business investment jumped 10.4%.

However, inflation pressures remain elevated, with PCE rising 0.7% MoM and 3.5% YoY in March, while oil strength, Hormuz tensions, yen intervention and the Fed's cautious tone continue to challenge the risk rally. In crypto, miners are accelerating their shift toward energy and AI infrastructure, with Riot reporting $167.2M in Q1 revenue and MARA announcing a $1.5B Long Ridge acquisition, while Ethereum ecosystem headlines included Bitmine staking another 162,088 ETH and Arbitrum DAO voting on the release of 30,766 ETH to DeFi United.

Powell Challenges Easing Outlook

BTC traded at approximately $76,000, down 2.0% on the day and more than 40% below its $126,000 October all-time high, following a hawkish Fed hold. The FOMC kept rates unchanged at 3.50–3.75% in an unusually divided 8–4 vote, while Chair Powell's warning on energy-driven inflation supported a 0.4% rise in DXY. 

Equities were comparatively resilient, with the S&P 500 closing 0.04% lower and the Nasdaq-100 edging higher, while stablecoin adoption remained a constructive theme across Visa, Meta, Solana and TRON.

Telegram Expands AI Execution

BTC is consolidating around $76K–$77K after retreating from a twelve-week high, with broader risk sentiment weakening as US equities sold off on renewed concerns over AI-related capital spending and OpenAI-linked revenue/user growth disappointments. Macro focus now turns to major central bank decisions, with the Fed and Bank of Canada due today and the BoE and ECB tomorrow, while elevated oil prices and Strait of Hormuz tensions continue to add geopolitical pressure. In crypto, LayerZero committed 10,000 ETH to DeFi United recovery efforts, Pump.fun launched a major PUMP buyback-and-burn programme, Syndicate is investigating a bridge exploit, and TON is expanding into AI-driven on-chain execution.

BTC climbs to 12-Week High

BTC briefly rallied to a 12-week high above $79.4K before reversing towards $77.5K, as risk sentiment continued to trade around shifting headlines on the Strait of Hormuz and US-Iran negotiations. Crypto ETP demand remained constructive, with global products recording $1.2B of inflows last week — the fourth consecutive positive week — led by $932.5M into BTC products and $192.4M into ETH. Meanwhile, broader risk assets stayed supported, with the S&P 500 up 0.8% on Friday for its fourth straight weekly gain, while two-year Treasury yields fell from 3.84% to 3.77%.