🌍Mastercard, Morgan & the UK Pivot: Crypto Goes Prime Time

📆 Week of April 28, 2025

🛰️ Hey Nebulites,

Crypto’s no longer knocking on the door of the financial system — it’s kicking it open, politely. From Mastercard going all-in on stablecoins to Morgan Stanley bringing spot Bitcoin to Main Street, this week’s been a wild blend of TradFi turning DeFi.

Even the UK’s throwing its top hat into the ring.

📦 This Week’s Lineup:

1. 💳 Mastercard launches stablecoin payments (finally useful, right?)

2. 🌀 21Shares files for a SUI ETF — here’s what SUI even is

3. 🧮 Are We Finally on the Verge of an Altseason?

4. 🏦 Morgan Stanley to offer crypto trading on E-Trade

5. 🇬🇧 The UK wants to team up with the U.S. on crypto

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💳CHAPTER 1 — Mastercard just gave Stablecoins a Passport

Stablecoins aren’t just for crypto bros anymore — they’re going global. Literally.

Mastercard announced it’s rolling out stablecoin payments across 150M+ merchants worldwide. That means you’ll soon be able to spend your USDC at the grocery store or withdraw it into your bank — no sketchy exchanges needed.

📦 What’s in the box:

• Use stablecoins with your Mastercard

• Withdraw crypto into your bank via Mastercard Move

• Works with MetaMask, Binance, Crypto.com, Gemini, OKX & more

• Bonus: rewards, points, and smoother UX than most banks

👉 Mastercard’s message: “We’re not here to fight crypto. We’re here to make it swipe-able.”

🧠 Why now?
Because the stablecoin market is pumping.

• Market cap: $230B (up 54% YoY)

• 90% = USDT + USDC

• Active wallets: up 50%

• Citi predicts $3.7 TRILLION by 2030

While we’re on the topic of stablecoins, there’s one key metric worth watching closely: USDC dominance.

Right now, it’s sitting at a level similar to where it was at the end of the 2021 bull market — right before the 2022 bear market kicked off and Bitcoin dropped to $15.5K by November.

Back then, USDC supply started rising in May 2021 and peaked in March 2022 — about four months after crypto prices topped out. During that same stretch, the total stablecoin market cap surged 177%, hitting $167.5B at its peak.

So what does that mean for now?

📉 If the stablecoin supply keeps rising while prices stall or dip, it could signal we’re near a market top.
📈 But on the flip side, rising stablecoin supply is also often a sign of fresh capital entering — a signal of investor conviction and potential for continued upside.

🧠 Nebular Take:

TradFi isn’t resisting anymore. It’s integrating. And this time, they brought rewards.

🌀  CHAPTER 2 — 21Shares Files for a Spot SUI ETF - But WTF is SUI?

21Shares just filed for a SUI ETF with the SEC — and no, you’re not the only one asking “what is SUI?”

🔎 Quick Explainer: What Is SUI?

Sui is a next-generation blockchain platform built by ex-Meta engineers.
It’s fast, scalable, and designed for real-world applications like gaming, payments, and tokenized assets.

Why it matters:

• Uses parallel execution for super-fast transactions

• Built with the Move programming language (more secure, originally developed at Facebook)

• Competes with blockchains like Aptos, Sei, and Celestia

🎯 ETF facts:

• Filed April 30 in the U.S.

• Already live in Europe (Euronext Paris & Amsterdam)

• $400M in AUM

• $72M in inflows this year — $20M+ just last week

21Shares isn’t alone — Canary Capital also filed for a SUI ETF.
The altcoin ETF race is heating up.

⚠️ Watch Out: $332M SUI Unlock Hits in May

Before getting too excited about a SUI ETF, here’s a quick reality check — a $332M token unlock is coming this month, and history hasn’t been kind.

Earlier this year:

• Jan 1: $335M unlocked → price near $4

• Feb 1: another $300M unlocked

• By April? SUI dumped to $1.92 — down over 50%

Sure, macro stress (hello, tariffs + recession fears) made things worse… but big unlocks + fragile sentiment = rough rides for newer L1s.

This time might be different — if BTC holds strong and risk appetite returns — but keep an eye on May. Volatility’s likely.

🧠 Nebular Take

SUI isn’t a meme — it’s infrastructure. Institutions are betting on its tech, not just the ticker.
And ETFs = validation.

But timing matters. With a $332M unlock around the corner, this isn’t just about conviction — it’s about managing risk.

🧮 Chapter 3: Are We Finally on the Verge of an Altseason?

Let’s talk Bitcoin Dominance — the percentage of the total crypto market cap that belongs to BTC. Historically, it’s one of the best indicators to time when altcoins are about to shine. And right now… we’re sitting at a critical level.

📊 What this chart shows:
We’re currently at 64.86% BTC dominance, right near the 63.97%–65% area — a zone that has repeatedly acted as resistance in the past (circled in blue). Each time BTC.D exceeded this level to head to the 71% area, it got rejected… and altcoins exploded.

🔁 Pattern Check:

• In both 2017 and early 2021, a rejection at this level marked the start of massive altseasons.

• After dominance peaked, capital rotated into ETH, SOL, AVAX, meme coins — you name it.

What could happen next?
We’re now in a very similar setup. If BTC dominance gets rejected here again, we could see another capital rotation into altcoins. And with institutional interest rising in assets like ETH, SUI, and even meme coins (for better or worse), it’s not far-fetched.

On the flip side, if dominance breaks above 65% and heads toward 71%, Bitcoin could stay in the spotlight a little longer — delaying the altcoin party.

🧠Nebular Take:
Altseason might not be here yet, but the ingredients are lining up:

• BTC dominance at key resistance

• Growing interest in alt-based ETFs (SUI, ETH)

• Retail curiosity returning

• Fresh capital entering via stablecoins and ETFs

So no, we’re not screaming “Altseason is now” — but we’re watching this chart like a hawk.

🏦CHAPTER 4 — Morgan’s Stanley’s E-Trade = Coinbase in a Suit?

Wall Street just gave crypto the green light.
Morgan Stanley is building a plan to let you trade Bitcoin and crypto directly on E-Trade — no ETFs, no workarounds. Real coins. Real access.

🧩 Here’s the scoop:

• Platform launch by 2026

• Still in early dev mode but gaining speed

• Will partner with big crypto players

• Morgan Stanley already lets rich clients (with $1.5M+ net worth) buy BTC ETFs — now it’s retail time

Why now?
Because the Trump administration went full pro-crypto:

• SEC Chair Paul Atkins is crypto-friendly

• Enforcement actions paused

• Trump… launched his own memecoin 😅

🚨 Senators aren’t loving it (some are even talking impeachment), but Morgan Stanley is laser-focused on market share.

 🧠Nebular Take:

When $1.7 trillion says “we want spot crypto,” other banks will follow. Robinhood, Coinbase — you’ve got company.

🇬🇧CHAPTER 5- UK Says “Let’s Talk Crypto” with the U.S. - But Will it Walk the Talk?

Big tea spill from across the pond.
The UK Treasury says it’s teaming up with the U.S. to make crypto innovation and regulation… actually work.

💼 What’s new?

• Chancellor Rachel Reeves wants the UK to be “the best place to innovate”

• New clear rules coming for Bitcoin, Ethereum & co.

• UK & US regulators meeting regularly

• Updated rules on staking already live in the UK

• And yes… Trump’s policies are inspiring similar moves abroad

The UK is clearly watching the U.S. shift under the new administration and wants a seat at the grown-up crypto table.

🧠Nebular Take:
Supportive regulation in two major markets? That’s how crypto goes from underground to Wall Street — and High Street.

🧐 Question of the week:
Will the UK be the next country to fully embrace crypto?

💡 Crypto Tip of the Week: Follow the Smart Money

Don’t Sleep on Stablecoins

With Mastercard enabling global payments, stablecoins like USDC and USDT are becoming more than just parking spots. They’re evolving into real-world financial tools — useful for payments, yield strategies, and cross-border finance.

But here’s the alpha: they’re also your best friend when markets crash. Keeping a portion of your portfolio in stables gives you dry powder to buy the dip when opportunities strike. Volatility creates chaos — but it also creates discounts.

🤡Memes of the week:

That’s a wrap for this week.

From TradFi giants turning full-on crypto to global regulators warming up (finally), we’re watching the biggest financial shift of our generation unfold in real time.

Stick with us — we’ll keep breaking it down so you can stay sharp, stay sovereign, and make smarter moves.

— Daniel
Founder, Nebular

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.