Ethereum On-chain Activity Soars This Week, Network Fee Spikes by 160%

On May 16th, Alon Cohen, a co-founder of pump.fun, announced on social media that the CTO feature for creator revenue sharing is about to become operational.

On May 16th, according to official channels, the Ohio gubernatorial candidate Vivek Ramaswamy is scheduled to deliver a speech at the Bitcoin 2025 conference.

On May 16th, as monitored by Onchain Lens, a whale deposited 1.7 million USDC into Hyperliquid and initiated a 20x leveraged short position on SOL.

On May 16th, Bo Hines, the Executive Director of the President's Digital Asset Advisor Council, made a post on social media, saying, "The essence of the 'GENIUS Act' is to protect the future of American finance. Stablecoins contribute to strengthening the dominance of the dollar, drive our outdated payment systems towards modernization, and offer a faster, lower-cost, and more transparent method of fund transfer for the American people. Digital asset technology represents the next generation of the financial system. The United States is prepared to lead this transformation."

May 16th. According to official information, JUST DAO announced that in order to better adapt to the development trend of the stablecoin market, the Juststable team will launch the orderly transition plan (Sunset Plan) for USDJ starting from May 16, 2025. The main arrangements are as follows: - Commence to suspend the addition of new deposit and borrowing functions for USDJ starting from May 16. - Gradually decrease the USDJ collateral factor and suggest users to timely replace USDJ with other supported assets (such as USDD, USDT, etc.). - During the transition period (until August 31), continue to maintain the liquidity of USDJ on major decentralized exchange (DEX) platforms (such as SunSwap) and exchange channels.

On May 16th, as per Bloomberg, Fifth Third Bancorp., which has its headquarters in Nashville, Tennessee, USA, started collaborating with cryptocurrency companies around five years ago. However, it did not make any substantial investments until the regulatory environment became more defined. According to the bank's chief strategy officer, the current time is appropriate for this. Ben Hoffman, the Chief Strategy Officer of Fifth Third Bank, mentioned that after setting up a small group of crypto clients who utilize the bank's deposit accounts and payment capabilities, the bank is pondering how to further expand its crypto business. These clients employ the bank's services for operations like payroll processing and income receipt. It is reported that the American Fifth Third Bank, whose predecessor can be traced back to the Bank of the Ohio Valley established in 1858 in the Ohio Valley of Cincinnati, Ohio. In 1871, the Bank of the Ohio Valley was acquired by the Third National Bank of t