OKX - World's Leading Digital Asset Platform for Secure Bitcoin & Ethereum Trading. Download Official APP for Professional Market Analysis & Trading Tools.
Download for Android Download for IOS
The cryptocurrency market witnessed unprecedented growth in May as Bitcoin shattered records and regulatory frameworks advanced across multiple US states.
Bitcoin's value surged to 【$111,970】 on May 22, coinciding with "Bitcoin Pizza Day" celebrations. This achievement marked a 267,000% increase from the famous 2010 pizza transaction where 10,000 BTC bought two pizzas. The cryptocurrency's market capitalization briefly surpassed Amazon at 【$2.2 trillion】 before settling at $2.18 trillion by month's end.
Texas led the charge by establishing a state Bitcoin reserve, while New Hampshire authorized treasury investments in digital assets through HB302. Arizona created a mechanism to claim abandoned cryptocurrencies after three years of inactivity, and Nebraska introduced power consumption regulations for large-scale mining operations. Oregon became the fifth state to update its commercial code for crypto assets.
——These legislative developments signal growing institutional acceptance of digital currencies—— noted blockchain analyst Miranda Cheng.
The cryptocurrency exchange achieved a landmark inclusion in the S&P 500 index despite a 【$400 million】 security breach mid-month. Coinbase shares rallied 19.37% during May, closing at $248.84. While some analysts questioned the volatile stock's suitability for the benchmark index, the move represents a significant validation for the crypto industry.
Markets responded positively to the May 12 US-China tariff truce, with the S&P 500 gaining 4.5% and Bitcoin climbing 2% within 24 hours. By month's end, the Nasdaq-100 had risen 9.16% while the S&P 500 increased 6.16%, creating favorable conditions for risk assets.
Facing regulatory challenges in 12 countries, OpenAI announced plans to relocate its World digital identity project to the United States. The company will deploy eye-scanning Orb stations across six cities, emphasizing user control over biometric data. This follows bans in Hong Kong and investigations in Brazil over economic manipulation concerns.
As the crypto ecosystem matures, May's developments demonstrate both technological innovation and the complex regulatory landscape shaping digital asset adoption. With Bitcoin's volatility stabilizing at 【7.2%】—its lowest monthly swing since 2023—the market shows signs of entering a new phase of institutional participation.