May 7, 2025 - SCOOPIST

Sony’s Soneium Netwok Monthly Active Addresses Surge 10X in 90 Days

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Sony’s blockchain network has seen a 10x surge in its monthly active addresses since February 2025 as user activity rises.

Soneium, an Ethereum layer-2 blockchain developed by Sony Block Solutions Labs, has seen a parabolic surge in network activity over the past 90 days. Following its launch on January 14, 2025, the Soneium Minato testnet recorded over 47 million transactions, engaging more than 14 million active addresses.

The joint venture project between Sony, under Sony Block Solutions Labs and Startale Labs, is gaining traction, deploying over 834,000 smart contracts alongside 89 million transactions in Q1. According to Token Terminal data, the network has seen its active addresses surge 10x since February 2025.

The network aims to provide scalable, developer-friendly blockchain infrastructure by leveraging Optimism’s OP Stack to boost transaction speed and minimize fees. Integrations with platforms like Uniswap enable users to swap, bridge, and provide direct liquidity from the Uniswap Web App and wallet.

Soneium’s emergence is Sony’s strategic move into the Web3 space as blockchain adoption gains ground. The company aims to bridge traditional digital experiences with emerging decentralized technologies through this network.

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PEPE: Assessing the Memecoin’s Breakout as Bullish Momentum Strenghtens

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PEPE has broken out of a descending channel pattern with a heightened trading volume and price surge, suggesting a price reversal.

Following days of price downtrend, PEPE is flashing signs of a bullish price reversal. The memecoin has broken out of its descending channel formation on the 4-hour chart, surging 5.3% in price. According to CoinMarketCap data, the memecoin’s trading volume is steadily surging, and stands at 21.54%, at press time.

Looking at the chart, PEPE’s price has broken out and is consolidating above the $0.00000800 resistance zone, which acts as its new support. The breakout is confirmed by candles closing above its descending trendline as buyers step in, strengthening PEPE’s bullishness.

The MACD level (12,26), the short-term and mid-term moving averages flash “buy” as the bulls charge for a rally following the breakout. The Relative Strength Index (RSI) stands at 51 (neutral zone). This suggests PEPE buying has started, but the memecoin is not yet overbought.

Following this breakout, PEPE is poised for a rally towards $0.00000850 while targeting $ 0.00000900 in the long run. These are previous key resistance levels. One should watch for buying volume and derivatives data for further insights.

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partyushgoyal

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BTC Institutional Adoption Wave: Revolut,Strive Capital, JetKing and More!

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May 7 Update: Institutional Bitcoin adoption is surging at an unprecedented rate as the King of Cryptocurrencies joins traditional balance sheets. Here is what’s up.

Bitcoin and crypto adoption are on the rise as governments and institutions seek to strategically position themselves in the digital assets market and the next financial revolution. On May 7, the market saw major institutions reveal their stance and plans in regards to BTC adoption. The following are today’s major updates:

Revolut, the $488 billion fintech giant with over 50 million user base, has revealed intentions to integrate the Bitcoin Lightning Network, enabling large-scale, faster and cheaper BTC transactions.
Jetking, a public Indian company, is raising billions to acquire 18,000 BTC as per its CEO, Harsh Bharwani, suggesting new Bitcoin Interest from Asia.
Strive Capital, the $2 billion firm backed by Ohio gubernatorial candidate Vivek Ramaswamy, plans to go public as a Bitcoin Treasury Company, starting with $1 billion worth of BTC

In other stories, the CEO of Strike, Jack Mallers, has told CNBC that Bitcoin is “humanity’s biggest tech opportunity”. According to him, BTC is targeting $500 trillion in global wealth. Additionally, Trump’s adviser, David Bailey, is reportedly raising $300 million for a Public Bitcoin Treasury Company, suggesting a heated institutional BTC adoption.

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partyushgoyal

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Ethereum’s Pectra Upgrade Goes Live: Here’s What’s New

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Ethereum developers have implemented the Pectra upgrade, introducing major developments on the network.

Ethereum has announced the launch of its long-awaited “Pectra” upgrade, which combines the “Prague” and “Electra” improvements. This update aims to make the network faster, smarter, and more scalable. The Pectra upgrade was applied at epoch 364032 on May 7, 2025.

Key Technical Improvements

At the heart of the upgrade are three core Ethereum Improvement Proposals (EIPs, with EIP-9698 yet to be launched:

EIP-7702 introduces smart account functionality. This means regular crypto wallets can work like smart contracts, allowing “gasless” transactions. Users can pay fees with tokens other than ETH.
EIP-7251 raises the maximum amount validators can stake from 32 ETH to 2,048 ETH. This makes it easier for institutional validators to operate and gives them more flexibility. It also increases the time needed to join or leave the validator group.
EIP-7691 boosts data blob capacity per block. This benefits Layer 2 (L2) networks by lowering costs and improving speed, which is crucial for Ethereum’s growth.

Why this upgrade matters

Pectra is Ethereum’s way of staying competitive against other networks. With Bitcoin becoming more popular and platforms like Solana and Base succeeding, it is important for Ethereum to keep evolving to maintain its status.

This upgrade makes Ethereum more appealing to businesses, especially those looking for better staking options and robust blockchain solutions. With the aforementioned developments, ETH has surged 2.59% with a 65.47% increase in 24-hour trading volume.

This hints at renewed market optimism as investors anticipate ETH’s growth after such a key technical update. With ETH fluctuating between $1,760 and $1,840, a rally towards $2000 and beyond could be due soon.

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Litecoin LTC Breaks Out amid Strong Bullish Momentum-Is $95 Next Target?

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Litecoin’s technical setup indicates a strong bullish breakout above a key resistance zone as technical indicators support LTC’s bullishness. Will the bulls target $95 next?

Litecoin has surged 11.26% in the past 24 hours as of press time. Per CoinMarketCap data, LTC has seen a 67.37% surge in 24-hour trading volume, signalling increased buying pressure amid renewed investor interest. As open interest rises, the bulls are geared up for a rally to reclaim the $100 key psychological level.

Looking at the 4-hour chart, LTC has broken out of the $81-$88 horizontal channel through the $88-$90 resistance zone with a strong consecutive green candles. This suggests strong bullish momentum as buyers step in following a retest of the $81 key support.

What do the technical indicators tell?

The MACD level (12,26), the short-term and mid-term moving averages are flashing “buy”, at press time. With the Relative Strength Index (RSI) at 60 (not overbought zone), LTC has heightened buying pressure and more buying potential.

With LTC’s price fluctuating around $90.80 and a fair value gap (FVG) left at the $84.5-$87 zone, LTC bears could attempt a price pullback. Analysts have predicted that, if the bulls hold strong, LTC could hit $95 as its next target toward the $100 mark. Traders are closely monitoring LTC above the horizontal channel for more insights.

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partyushgoyal

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TRON Achieves 99.7% Block Efficiency Boosting its Reliability

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TRON blockchain on-chain data hints at optimum efficiency at 99.7%, suggesting that it is becoming one of the most reliable decentralized blockchains.

Blockchain efficiency measures how consistently a blockchain network can create new blocks without random failures or delays, reflecting its ability to handle transaction demand. TRON has been working on its blockchain network since 2020, replacing its Super Representatives. The optimized efficiency level will ensure fewer delays and a better user experience fueled by consistent block production.

According to the chart by Cryptoquant, TRON has hit 99.7% block production efficiency. With this development, the network has replaced 68% of its Super Representatives, signalling high reliability throughput for dApps and DeFi operations.

Additionally, TRON has improved in the decentralization aspect, distributing more power across the blockchain network. With such developments in place, TRON is solidifying its stance as one of the most dependable platforms in the crypto space, especially among developers in need of uptime and scalability.

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partyushgoyal

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