The crypto market is beginning the week on a two-pronged mission.
The aggregate market capitalization is at $2.95 trillion, marking a minor drop of 0.44%. Similarly, the CMC100 Index, which tracks the performance of the top 100 cryptocurrencies, is down by 0.56%, currently valued at $180.27.
Despite the retreat, there is a sense of optimism in the air, especially following the recent appointment of Paul Atkins, a previous SEC Commissioner who has been an advocate of Bitcoin, as the new Securities and Exchange Commission (SEC) Chair. Let’s dive into three assets that are turning heads this week.
Bitcoin (BTC)
As always, Bitcoin continues to set the tone for the broader crypto market. Currently trading at $94,588, BTC is down 1.25% in the last 24 hours. However, analysts remain bullish, if Bitcoin can break past the $97,000 level, it may well reclaim $100,000, a price point not seen since early 2025. Also, Ali Martinez, a crypto analyst, suggests that “BTC is testing support at $95,000. If this level breaks, a pullback toward $92,000 could be next.”
Institutional interest remains a key driver for BTC. BlackRock’s iShares Bitcoin Trust (IBIT) has seen a remarkable 17-day streak of uninterrupted inflows, pulling in nearly $2.5 billion just over the past week.
Ripple (XRP)
Ripple is currently priced at $2.18 after a 1.66% drop in the past 24 hours. This is after a downturn, with XRP losing 6.80% in the past week. The token had earlier surged to $3, a peak in nearly seven years, once again stirring optimism for investors.
Market activity also picked up, trading volume increased 16.71% to $3.39 billion, indicating increased participation. Open interest, which is a measure of unsettled futures contracts, however, decreased slightly by 2.73% to $3.59 billion, signaling a mix of caution and consolidation on the part of derivatives traders.
Also, Crypto News Flash reported that the CME Group will list cash-settled XRP futures on May 19, potentially bringing more legitimacy and institutional access to the asset.
Virtuals Protocol (VIRTUAL)
One of the newer names gaining traction is Virtuals Protocol, whose native token VIRTUAL is trading at $1.82, up a healthy 10.3% in the past 24 hours. In the past month, VIRTUAL has increased by over 200%, one of the best performers in the AI-crypto crossover space.
The token, valued at $1.17 billion in market capitalization, is now among the top 70 cryptocurrencies by value. The initiative has been able to capture the attention of investors by focusing on empowering users to develop, sponsor, and invest in AI agents, something that is aligned with increasing interests in AI-driven blockchain applications.
Analysts are optimistic about its trajectory, with the forecasts suggesting VIRTUAL could hit $2.07 by the end of May and up to $2.49 if things continue.