Crypto News Today (May 5): TON +25%, LUNC +15% While BTC’s On‑Chain Activity Hits 2‑Year Lows

Bitcoin’s rally keeps going, and in crypto news today, the market is showing mixed signals beneath the surface. BTC trades around $81,000 after breaking past that level yesterday, but while some altcoins are moving, others are lagging. Ethereum price is flat today, TON jumped 25%, and LUNC added another 15%.

Let’s break down what’s moving the market.

Why Are LUNC and TON Prices Up Today?

The LUNC price is up another 10–15% today. We reported this yesterday. The main catalyst is Binance’s monthly buyback-and-burn. On May 1, Binance removed 923,238,507 LUNC tokens permanently. That’s a big supply cut. The deflationary thesis keeps bulls engaged. It’s a dead chain. The parent company went bankrupt. The founder sits in prison. None of that matters right now. LUNC crossed a $500 million market cap.

TON rallied 25% today for clear reasons. Fees on TON dropped six times. They are almost zero now. Telegram stepped in as the main driving force. The app is becoming the largest validator on the network. New developer tools and performance upgrades are coming within two to three weeks.

Source: X/@wiseadvicesumit

When infrastructure improves and distribution (Telegram) kicks in, liquidity follows. That’s exactly what we see.

Bitcoin’s On-Chain Activity Falls to 2-Year Lows

Santiment reported the numbers. Bitcoin has 531,000 active wallets making transfers daily. The network creates 203,000 new wallets daily. Both are scraping two-year lows. Price returned above $80,000 for the first time in three months. That’s a striking disconnect.

Normally, rising prices attract more users, more wallet creations, and more on-chain buzz. That’s not happening. Price climbs on thin participation. A small group of players pushes the market higher. There’s no broad wave of new users.

This is a warning sign. The price rose 22% in five weeks, but the foundation looks weak. Low network activity during a rally suggests new adoption hasn’t arrived. Historically, price moves without growing on-chain participation tend to break easily. There’s less buying fuel behind the move.

Source: X/@SantimentData

If big holders take profits, fresh demand from new users may not absorb the selling. That said, there’s a paradox. Two-year lows in activity can also signal Bitcoin is coiled for a bigger move upward. Activity bottoms often mark the end of apathy.

If BTC price already recovers to $80K with participation this low, imagine what happens when retail wakes up. Daily active addresses climbing back to 100K+ new wallets per day (2024–2025 peaks) would send BTC much higher.

Other Important Crypto News Today

As Bitcoin hovers near $80,000, exchange liquidity is shrinking. Stablecoin reserves on exchanges fell 5.18% in one week — from $70.37 billion to roughly $66.37 billion. That’s a $4 billion drop.

When Bitcoin price and stablecoin reserves fall together, it signals deleveraging or capital flight. Investors move money out of the ecosystem entirely. A market cannot sustain a macro breakout without deep liquidity on the sidelines. Until stablecoin reserves replenish, the push toward $80,000 remains fragile.

Polygon Labs launched shielded stablecoin payments in its wallet. Users can now choose a “Privately Send” option for USDC and USDT. The transfer routes through Hinkal’s shielded pool instead of a standard on-chain transfer.

The feature uses zero-knowledge proofs. It hides the sender, receiver, and amount from on-chain observers. Polygon Labs says each private transaction will undergo KYT screening before execution. The protocol is non-custodial.

Read also: Kaspa’s June Pivot vs. July Cliff – Why the Next 60 Days Could Make or Break KAS

Offshore US dollar deposits held in banks outside the US hit a record $14.5 trillion. That’s up from roughly $4.5 trillion at the start of the century. By comparison, only $3.5 trillion worth of euros are held offshore. The Fed and domestic commercial banks hold over $19 trillion.

Offshore dollar deposits are now 43% of US domestic bank deposits. No other currency comes close.

Source: X/@KobeissiLetter

Is this good or bad for crypto? Both. Strong dollar demand means the dollar isn’t collapsing, reducing the urgent “fiat escape” narrative. But it also proves the world trusts dollar-based stablecoins. Every offshore dollar can move into crypto in minutes. The bigger the offshore dollar pool, the larger the potential dry powder for stablecoins and crypto buys. For crypto, a strong dollar doesn’t kill the market — it provides liquidity.

Overall, Bitcoin holds $81,000, but the rally rests on thin participation. TON and LUNC show that altcoin narratives still work when catalysts hit. Stablecoin reserves dropped $4 billion — a warning. Yet offshore dollar deposits are massive, ready to flow in. The next few days will tell if BTC breaks $83,000 or rolls over.

More crypto news for you

• WLFI Takes Legal Action Over Token Freeze Dispute
• XRP Price News: Record‑Low Volatility
• Dogecoin Price Prediction