On May 13, Bitcoin experienced a dramatic price surge, climbing from a low of $6,836 to a high of $7,746 — a single-day gain exceeding 13%. According to data from CoinMarketCap, this rally significantly boosted the overall cryptocurrency market capitalization, which has grown by approximately $65 billion** since early May, now standing at **$238 billion.
The last time Bitcoin saw a single-day increase of over 10% was on April 2. That surge, as previously analyzed, was largely attributed to technical breakouts and potential large-holder (whale) activity. However, the latest upward momentum appears to be driven by multiple fundamental catalysts unveiled during the New York Consensus Conference, signaling growing institutional interest and real-world adoption.
These developments span financial innovation, enterprise blockchain integration, and expanded payment use cases — all critical pillars for long-term crypto market maturation.
Bakkt Announces Physical-Delivery Bitcoin Futures Testing in July
One of the most anticipated announcements came from Bakkt, the digital asset platform backed by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.
Kelly Loeffler, CEO of Bakkt, confirmed that the company will collaborate with ICE’s futures exchange and clearinghouse to conduct the first custody test for Bitcoin futures. The company plans to launch its first Bitcoin futures contract test in July, introducing a new product with enhanced trading, security, and risk management features.
Unlike cash-settled futures offered by CME and CBOE, Bakkt’s contracts will be physically settled, meaning traders receive actual Bitcoin upon contract expiration. This distinction is crucial because it ties the futures price directly to real Bitcoin supply and demand, reducing manipulation risks and increasing market integrity.
👉 Discover how institutional futures can drive Bitcoin adoption and stability.
The launch of regulated, physically settled futures is widely seen as a gateway for institutional investors who have been waiting for compliant, secure entry points into the crypto market. With Bakkt’s backing from major financial players, this move could accelerate asset manager participation and improve market liquidity.
Microsoft Launches Decentralized Identity Tool on Bitcoin Blockchain
In a groundbreaking move for enterprise blockchain adoption, Microsoft unveiled its decentralized identity solution built directly on the Bitcoin blockchain.
The project, called ION (Identity Overlay Network), is an open-source protocol hosted on GitHub that enables a scalable, decentralized digital identity system. ION allows individuals, organizations, and devices to create self-sovereign identities — verifiable digital credentials that users control without relying on centralized authorities.
Daniel Buchner, Microsoft’s lead program manager for digital identity, emphasized that the goal is to eliminate reliance on sensitive personal data like email addresses and usernames. With ION, users can authenticate themselves across services while protecting their privacy — a major step toward mainstream Web3 usability.
By anchoring ION to Bitcoin’s secure and immutable ledger, Microsoft leverages one of the most robust blockchains for identity verification. This integration demonstrates that Bitcoin isn’t just a store of value — it’s becoming a foundational layer for next-generation internet infrastructure.
This development strengthens Bitcoin’s long-term utility narrative and may inspire more enterprises to explore blockchain-based identity solutions.
eBay Hints at Future Crypto Payments Acceptance
At the New York Consensus Conference, eBay sparked excitement across the crypto community with a bold sign reading: “Virtual currency — it’s going to happen on eBay.”
While the e-commerce giant has not yet released official details or timelines, the public statement suggests that cryptocurrency payments could be on the roadmap. With over 180 million active users, eBay’s potential adoption would mark one of the largest integrations of crypto in mainstream retail.
Such a move would follow growing momentum from other online platforms exploring digital asset payments. If implemented with proper compliance and user experience design, eBay could become a major driver of real-world crypto usage, bridging the gap between speculative assets and everyday transactions.
Though still speculative at this stage, the announcement reflects shifting attitudes among major tech companies — many of which are now viewing crypto not as a fringe trend, but as a viable component of future payment ecosystems.
Flexa Launches Spedn App: Pay with Crypto at 15 Major U.S. Retailers
Adding tangible utility to digital assets, payments startup Flexa announced the launch of its consumer app — Spedn — enabling cryptocurrency payments at 15 major U.S. retailers.
The service went live on May 13 during the conference, allowing users to spend Bitcoin, Ethereum, and other cryptos at well-known chains including:
- Barnes & Noble
- Bed Bath & Beyond
- GameStop
- Lowe’s
- Nordstrom
- Office Depot
- Whole Foods Market
Spedn uses instant settlement technology to process transactions in seconds, minimizing volatility risk. Merchants receive payments in fiat currency, while users pay in crypto — creating a seamless experience without requiring businesses to hold digital assets.
Tyler Spalding, co-founder of Flexa, stated that the goal is to make crypto spending as easy as tapping a credit card. This kind of frictionless integration is essential for driving mass adoption beyond trading and investing.
👉 See how real-time crypto payment networks are reshaping retail.
With Spedn now live, consumers can begin using crypto for daily purchases — turning digital assets into functional money rather than just speculative instruments.
Why These Developments Matter: A Shift Toward Real-World Utility
The news from the New York Consensus Conference covers three critical dimensions of crypto growth:
- Financial Infrastructure (Bakkt futures)
- Enterprise Innovation (Microsoft ION)
- Consumer Adoption (eBay signals + Spedn rollout)
Together, they represent a maturing ecosystem where Bitcoin and blockchain technology are being integrated into traditional finance, identity systems, and everyday commerce.
While short-term price movements may be influenced by sentiment and speculation, these developments provide strong fundamental support for long-term value appreciation. They show that serious institutions and global brands are no longer观望 (on the sidelines) — they’re actively building on or with blockchain technology.
Frequently Asked Questions (FAQ)
Q: What caused Bitcoin’s 13% price jump on May 13?
A: The surge was primarily driven by positive announcements at the New York Consensus Conference, including Bakkt’s July futures test, Microsoft’s ION identity project on Bitcoin, eBay’s hint at crypto payments, and Flexa’s Spedn app launch.
Q: How do Bakkt’s physically settled futures differ from other Bitcoin futures?
A: Most existing futures are cash-settled. Bakkt’s contracts deliver actual Bitcoin upon expiry, aligning prices more closely with spot markets and reducing manipulation risks — a key feature for institutional trust.
Q: Can I already pay with crypto at Whole Foods using Spedn?
A: Yes. Spedn supports cryptocurrency payments at Whole Foods and 14 other major U.S. retailers through its app, converting crypto to fiat instantly at checkout.
Q: Is Microsoft’s ION project only for individuals?
A: No. ION is designed for individuals, organizations, and devices. It aims to create an interoperable identity layer for the entire internet, enabling secure and private interactions across services.
Q: Will eBay definitely accept cryptocurrency soon?
A: Not confirmed yet. eBay displayed promotional messaging suggesting future plans but has not announced specific timelines or technical details.
Q: Are these developments enough to sustain long-term Bitcoin growth?
A: While no single event guarantees sustained growth, the combination of institutional products (like Bakkt), enterprise use cases (like Microsoft), and consumer adoption (like Spedn) strengthens Bitcoin’s fundamentals significantly.
👉 Explore how next-gen financial platforms are integrating crypto for global impact.
The momentum building around Bitcoin in 2025 reflects a shift from speculation toward real utility and systemic integration. As more institutions adopt blockchain solutions and consumers gain access to user-friendly tools, the path toward mainstream acceptance becomes clearer — and more irreversible.