Here’s a quick recap of the crypto landscape for Wednesday (May 14) as of 6:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$103,243 as markets closed, down 1 percent in 24 hours.
The day’s range has seen a low of US$102,964 and a high of US$104,836. After breaking through the US$100,000 threshold on Thursday (May 8), the digital continues to maintain its averages.
Bitcoin performance, May 14, 2025.
Chart via TradingView.
Ethereum’s (ETH) price surge since the May 7 Pectra upgrade has similarly stabilized with that of BTC. ETH’s price has increased by over 44 percent from last week and 57.2 percent month-on-month. It finished the day at US$2,586.72, a 1 percent decrease over 24 hours.
The day’s range saw a low of US$2,571.87 and a high of US$2,708.81.
Altcoin price update
Solana (SOL) closed at US$175.53, down 1.6 percent over 24 hours. SOL experienced a low of US$174.64 and a high of US$184.05.
XRP was trading at US$2.54, reflecting a slight 0.3 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.63 and a high of US$2.55.
Sui (SUI) was priced at US$3.92, showing a decreaseof 2.6 percent over the past 24 hours. It achieved a daily low of US$3.88 and a high of US$4.08.
Cardano (ADA) was trading at US$0.7991, down 2.7 percent over the past 24 hours. Its lowest price of the day was US$0.7939, and it reached a high of US$0.8354.
Today’s crypto news to know
MicroStrategy’s Bitcoin binge draws shock and skepticism
A new Financial Times documentary has reignited scrutiny over MicroStrategy’s high-risk Bitcoin accumulation strategy, which has transformed the software firm into a de facto Bitcoin investment vehicle.
Rebranded as “Strategy,” the company has acquired over 568,000 BTC since 2020, funded through repeated stock sales and convertible bond issuances totaling over US$12 billion. Insiders like Jeff Walton, a former reinsurance broker turned Strategy advocate, called the firm’s capital-raising feat “insane,” highlighting how it raised the equivalent of US$100 million 120 times in just 50 days.
Supporters argue the move is a masterstroke in capital deployment, leveraging valuation premiums to secure more digital assets without diluting core equity value. But critics warn that the model’s success is contingent on sustained Bitcoin price growth; any prolonged downturn could unravel investor confidence and the firm’s market capitalization.
Still, Strategy Chairman Michael Saylor claims the firm’s balance sheet is “bulletproof,” stating that even a 90 percent Bitcoin drop held for half a decade would not destabilize the company.
Perplexity and PayPal team up to automate AI shopping
AI search startup Perplexity has entered into a partnership with payments giant PayPal (NASDAQ: PYPL) to enable seamless purchases directly within its chat interface, in what the companies describe as a major leap for “agentic commerce.”
Starting this summer in the US, users of Perplexity Pro will be able to book travel, buy tickets, or purchase goods through a single query—without manually inputting payment information. Transactions will be processed behind the scenes using PayPal or Venmo, streamlining everything from checkout to invoicing while eliminating the need for passwords.
The partnership is expected to integrate Perplexity’s tools into PayPal’s 430 million active accounts, dramatically expanding the reach of both platforms.
Backed by tech titans like Jeff Bezos, Nvidia, and SoftBank, Perplexity is also reportedly in talks to raise us$500 million in fresh capital at a us$14 billion valuation, showing investor confidence in the model.
Coinbase joins S&P 500
Coinbase (NASDAQ: COIN) will officially join the S&P 500 Index on May 19, replacing Discover Financial Services following its acquisition by Capital One—a major milestone for the crypto industry.
Shares of Coinbase surged 24 percent on the announcement, marking its largest single-day rally since November 2016. Analysts say inclusion in the S&P 500 not only legitimizes Coinbase’s role in the financial system but could also drive as much as $16 billion in fresh inflows from passive index funds, according to Bernstein.
The stock has also drawn new bullish forecasts, with Oppenheimer raising its target price to $293 while maintaining an Outperform rating. This development comes on the heels of Coinbase’s strong Q1 2025 earnings report, which beat EPS expectations but slightly missed on revenue.
Additionally, Coinbase recently acquired crypto derivatives exchange Deribit for US$2.9 billion, a deal that represents the largest acquisition in the industry to date.
Thailand to issue US$150 million in digital investment tokens
Thailand’s Finance Ministry has announced it will issue 5 billion baht (US$150 million) worth of blockchain-based “G-Tokens” within the next two months, as part of the government’s borrowing strategy.
he issuance follows Cabinet approval and will function as a market test to gauge public appetite for blockchain-based debt instruments. Finance Minister Pichai Chunhavajira said the tokens will offer higher returns than traditional bank deposits, which currently yield between 1.25 percent and 1.5 percent—below the central bank’s 1.75 percent policy rate.
Retail investors will be able to participate with relatively small capital, as the government aims to democratize access to high-yield investment tools.
The initiative reflects growing enthusiasm within Thailand for blockchain innovation; last year, the country exempted crypto earnings from taxation and expanded stablecoin trading on local exchanges.
Robinhood to buy WonderFi for US$179 million
Robinhood Markets (NASDAQ:HOOD)has agreed to acquire Canadian crypto firm WonderFi (TSX:WNDR,OTCQB:WONDF) in an all-cash deal worth C$250 million (US$179 million), bolstering its presence in North America’s second-largest crypto market.
WonderFi operates Bitbuy and Coinsquare—two of Canada’s largest registered crypto exchanges—with more than C$2.1 billion (US$1.5 billion) in assets under custody. The deal, expected to close in the second half of the year, marks Robinhood’s third major crypto acquisition following its purchases of Bitstamp and TradePMR in the past year.
WonderFi’s recent history has been tumultuous: its CEO Dean Skurka was kidnapped last year in a US$1 million ransom plot that ultimately cost the company US$3.6 billion in damages and security upgrades.
Canada Crypto Week in full swing in Toronto
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
