Bitcoin Nears $79K with BlackRock ETF Buys and Ripple Expands to 13,000 Banks - May 3, 2026 Crypto Update

Key points

• •Bitcoin continues its strong bullish momentum into May 2026, approaching $79,000 with its highest weekly close since January. This follows a robust April where BTC gained 12.7% to $78,000, fueled by nearly $2.4 billion in spot ETF inflows, predominantly from BlackRock’s IBIT fund. Institutional participation is further evidenced by BlackRock’s $284 million BTC buy on May 1 and the European Bitcoin ETF surpassing $1.1 billion in assets under management owning 14,200 BTC.[Blockonomi][U.Today][Cointelegraph][Blockonomi][Blockonomi][Blockonomi]
• •Bitcoin’s network metrics reveal a slight cooling of mining activity with difficulty dropping 2.3% and hashrate falling below 1 exahash per second as of May 1, 2026. This reduction points to slower block times and signals possible miner consolidations amid current market price levels near $79,000.[Bitcoin News]
• •Terra Classic's LUNC token experienced a remarkable 284% price surge over six months, reaching a 13-month high of $0.00009724 and a market cap exceeding $530 million. This was triggered by a massive community-driven burn of 923 million LUNC tokens on May 1 and an on-chain vote to upgrade the network, reviving investor confidence in the token.[Blockonomi]
• •Ripple has expanded its corporate footprint substantially, announcing partnerships with 13,000 banks facilitating $12.5 trillion in global payment flows. An analyst suggests this extensive adoption could underpin a bullish valuation for XRP, projecting a theoretical price target as high as $625, underscoring strong institutional use cases for the token.[Bitcoinist]
• •A US court has intervened to freeze $71 million in Ethereum tied to the Arbitrum DAO following the recovery of funds hacked by the North Korean state-sponsored Lazarus Group linked to KelpDAO. This legal garnishment prevents distribution or liquidity of these assets, highlighting ongoing regulatory and security challenges from nation-state cybercrime in DeFi ecosystems.[Blockonomi]

Relevant articles