US President Donald Trump has announced a ‘major trade deal’, sparking speculation about a potential US-UK trade agreement. Yesterday, Trump shared a post about a potential trade deal with a “big, and highly respected, country,” which the New York Times identified as the United Kingdom. The announcement has sparked speculations of a crypto market rally, with top currencies exhibiting significant price upticks.
Following Trump’s cryptic message on Truth Social post, the crypto market saw a notable surge, with the total market cap reaching $3.07 trillion, up 2.72%. Top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and XRP have experienced surprising hikes of 2.66%, 5.3%, and 2.5%, respectively, over the past 24 hours.
On May 7, President Trump shared a Truth Social post that read, “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” Though he hasn’t revealed the partnering country, the New York Times confirmed it as the United Kingdom, fueling speculations of a potential US-UK trade deal.
These speculations, indeed, have triggered a bullish rally in the crypto market with leading players trading in green. Bitcoin, which traded around $97,759 before the announcement, quickly shot through the roof, nearing the critical $100k barrier. While the ETH price reached closer to $2k, XRP hit a psychological level of $2.2.
Trade Agreement Details
According to the New York Times post, three people familiar with the matter revealed that the US is entering into a trade deal with the UK. Though the details remain undisclosed, as per Trump’s post, it will be announced today (May 8).
Timothy C. Brightbill, an international trade attorney at Wiley Rein, commented that the announcement is likely to be “just an agreement to start the negotiations, identifying a framework of issues to be discussed in the coming months.” He added, “We suspect that tariff rates, nontariff barriers and digital trade are all on the list — and there are difficult issues to address on all of these.”
This trade deal marks the first agreement announced since President Trump’s introduction of stiff tariffs on numerous US trading partners. Later, he temporarily paused the tariffs to facilitate negotiations with other countries. It is noteworthy that the US-China tariff plans have significantly impacted the crypto market, resulting in a major correction.
Crypto lender Nexo, which manages $11 billion in assets, announces return to the US after regulatory exit in late 2022
Nexo’s return to the American market has become possible thanks to the changes in crypto industry regulations under the Donald Trump administration.
Nexo Is Coming Back to the US – Why It Matters
Nexo co-founder Antoni Trenchev announced the return during an exclusive business event attended by Donald Trump Jr., a vocal supporter of the crypto industry. The gathering underscored the growing political support for digital assets in the US.
“America is back — and so is Nexo. Thanks to the vision and leadership of President Donald J. Trump, his administration, and his family, the United States is once again a place where innovation is championed, not stifled. A place where pioneers are celebrated. Nexo is returning to America — stronger, smarter, and determined to win,” Trenchev said.
Donald Trump Jr. reinforced this sentiment, stating:
“Crypto is the future of finance. We must bring this innovation back to American soil to maintain our economic leadership.”
US users will regain access to all Nexo services, including:
High-yield crypto savings accounts
Asset-backed credit lines
Advanced trading
Institutional-grade liquidity solutions
Over the past week, the network’s native token, NEXO, surged by more than 12%, and the positive sentiment continued today following the news. Its market cap stands at $1.2 billion.
It exited the US in 2022 due to regulatory pressure. The SEC and several states (New York, Kentucky, and Vermont) accused Nexo of offering unregistered securities through its Earn Interest products. The crypto lender later agreed to pay a $45 million fine and discontinued services for US customers.
Now, with a more favorable regulatory climate, Nexo’s return marks a pivotal shift. The platform now aims to reinforce its mission of empowering users to grow and preserve crypto wealth with secure, tailored solutions.
Nexo CEO Antoni Trenchev with Donald Trump Jr. Source: BeInCrypto
Under Trump’s leadership, US regulators appear more open to crypto innovation, potentially paving the way for other exiled platforms to return. Recently, crypto market maker DWF Labs also announced its entry into the US market.
MicroStrategy is lacing up for a potential Bitcoin purchase after Michael Saylor flashed the tell-tale buy signal. The incoming purchase will be the company’s first in Q2 after pausing Bitcoin purchases at the start of April in an eyebrow-raising move.
Michael Saylor Flashes Bitcoin Buy Signal
MicroStrategy CEO Michael Saylor has dropped clues that the software company will continue its Bitcoin accumulation spree. In an X post, Saylor shared MicroStrategy’s portfolio tracker revealing the company’s Bitcoin holdings and valuations.
Michael Saylor’s previous posts sharing Microstrategy’s portfolio tracker over the weekend have resulted in purchases at the start of the week. Investors are lapping up Saylor’s portfolio tracker post and the accompanying caption as cues for a BTC purchase on Monday.
“No tariffs on Orange Dots,” said Saylor, taking a jibe at brewing tariff wars between the US and China.
MicroStrategy had previously halted its Bitcoin purchase spree at the start of April leading to a slump in MSTR price. At the time, there was significant chatter that MicroStrategy may be forced to offload its Bitcoin holdings to cover obligations following a dip in prices.
Per the portfolio tracker, MicroStrategy holds 528,185 BTC on its balance sheet valued at $44.7 billion. Michael Saylor hinting at a potential Bitcoin purchase follows a small dip in prices with BTC holding the $83K mark.
Will Bitcoin Price Rally?
Saylor’s hint at buying Bitcoin has triggered a small bump in prices as the top cryptocurrency surpassed $83K. However, an actual purchase will trigger a significant price action for BTC in line with previous accumulations.
MicroStrategy’s last Bitcoin purchase of 22,048 BTC jolted the markets in line with investors’ expectations. However, there are fears that macroeconomic events like the US-China tariff war may affect a potential BTC rally following MicroStrategy’s incoming purchase.
Bitcoin price has rebounded after a previous bloodbath, sparking fresh optimism in the markets. Crypto Joao Wedson predicts that Bitcoin is not out of the woods yet and a grim drop to $65K is still a possibility for the top cryptocurrency.
“We’re not ruling out the possibility of the price dipping below $65K, as several metrics point to that region as strong support – such as the True Market Mean Price and Alpha Price, both sitting exactly around $64,700,” said Wedson.
Crypto analyst Doctor Profit warns that a BTC price drop to these levels may force MicroStrategy to sell MSTR to avoid liquidation.
The non-fungible token (NFT) sector experienced explosive growth in 2021. Artists, investors, and collectors were all swept up in the frenzy. Yet, its meteoric rise was followed by a downturn, prompting questions about the sector’s sustainability.
Alexander Salnikov, co-founder of Rarible, believes the market is not facing a collapse but rather a shift. In an exclusive interview with BeInCrypto, Salnikov offered his perspective on the state of NFTs in 2025 and their role moving forward.
Are NFTs Still Relevant in 2025, or Have They Run Their Course?
The rise of NFTs, fueled by excitement and speculation, was inevitable for a market experiencing such rapid innovation. Nonetheless, like many emerging technologies, this early surge was followed by a correction. The hype gave way to the realities of market maturation and sustainability.
According to the latest report by DappRadar, the art NFT market saw an impressive surge in 2021, with trading volumes reaching $2.9 billion. However, by the first quarter of 2025, the trading volume was recorded at just $23.8 million, marking a 93% decline.
NFTs Trading Volume Over the Years. Source: DappRadar
Similarly, the number of active traders peaked at a record high of 529,101 in 2022. Yet, this figure sharply declined by 96%, with just 19,575 active traders remaining by Q1 2025.
A previous industry report from DappRadar revealed that the underwhelming performance wasn’t just a trend in 2025. In fact, 2024 was one of the worst-performing years for the NFT market since 2020. In addition, BeInCrypto also reported on a study that revealed 98% of NFT projects launched in 2024 were essentially “dead.”
Despite the decline, Rarible’s Salnikov has maintained a positive outlook for the sector. He emphasized the importance of a clear purpose when it comes to NFTs.
“Once upon a time, after the .com burst, the headlines rang that the internet was only a fad. But as more companies integrated the technology into everyday use cases, it became ingrained as a part of life,” he told BeInCrypto.
“The speculative phase had its moment, but now we’re watching NFTs evolve into actual infrastructure—tools creators use to build communities, products, and new digital economies,” he said.
NFTs Beyond the Hype: Unlocking Real-World Utility
Salnikov stressed that utility in the NFT space is no longer a distant concept—it is happening right now. Creators are using NFTs for membership, brands for loyalty programs, and games for player identity.
He pointed to a growing convergence between the digital and physical worlds, with NFTs being tied to merchandise, events, and even real-world assets. Binance Research’s April 2025 report further corroborates this trend.
The report spotlighted several real-world partnerships, indicating interest in NFTs. Examples include Azuki’s physical-backed NFT with Michael Lau, The Sandbox’s Jurassic World collaboration, EGGRYPTO’s anime characters with Eparida, and Sony’s Soneium platform partnering with LINE to create Web3 mini-apps.
“The next wave of growth isn’t about chasing a trend—it’s about unlocking new types of ownership and access that feel native to the internet generation,” noted Salnikov.
While this perspective offers optimism, the reality for many companies is quite different. Due to low trading volumes, major platforms like Bybit, X2Y2, and Kraken have resorted to discontinuing their NFT services.
Those that didn’t shut down explored alternative avenues. For instance, Magic Eden expanded beyond NFTs with the acquisition of Slingshot. Nevertheless, Salnikov dismissed this strategy, commenting,
“We’re not trying to bolt on non-NFT features just to stay busy—we’re building NFT commerce that actually fits the communities using it.”
He explained that this approach uses modular, customizable on-chain marketplaces. Creators can tailor them to fit their specific audiences, whether it’s a gaming project, an L3, or a legacy brand.
“NFTs are the feature—they just need the right framing,” the Rarible co-founder stated.
When Fame Fades: The Diminishing Returns of Celebrity-Backed NFTs
In January 2022, Bieber spent 500 ETH (approximately $1.3 million at the time) on Bored Ape #3001. This NFT is from Yuga Labs’ Bored Ape Yacht Club (BAYC) collection.
However, according to the latest data, the NFT is worth only 13.51 WETH (around $24,174), a decline of 98.1%. Although the singer hasn’t sold his NFT, it has received little attention lately, with no promotional efforts or notable discussions around it.
Thus, while celebrities can bring attention to NFTs, this highlights the need for substance beyond the name itself. As Salnikov pointed out, celebrity involvement in the sector is fleeting.
According to him, a celebrity name alone can’t replace genuine creative direction or a strong community.
“Celebrity drops will come and go—it’s the culture behind them that determines if they stick,” he remarked.
He argued that celebrities treating NFTs as mere merchandise deters audiences. Nevertheless, when an NFT drop is intentional and truly taps into something meaningful like music, fashion, or fandom, that’s where the lasting value is found.
“We’re way more interested in working with creators who are building for the long haul than just chasing headlines,” Salnikov disclosed to BeInCrypto.
The executive also outlined the need for a more accessible and user-friendly approach for attracting interested users. He detailed that onboarding users should not feel “like a tech demo.” Salnikov pointed to Rarible as an example.
According to him, Rarible focuses on ensuring that each marketplace built on its platform is a product people genuinely want to use. This involves features such as fiat onramps, low-cost mints, a clean user interface, and, most importantly, content that resonates with users.
“We’re not selling NFTs—we’re powering experiences that just happen to be onchain,” Salnikov concluded.
While the NFT market faces ongoing challenges, it remains to be seen whether the industry is entering a new phase of growth or if further obstacles lie ahead in its evolution.
