Crypto upgrades and Senate hearing pack the week

A series of major protocol upgrades is set to hit major networks May 11–13 while U.S. lawmakers prepare to consider a market-structure bill on May 14. The calendar includes Starknet’s strkBTC launch, Ronin Network’s migration to the OP Stack, SushiSwap’s Perps v2 rollout and Base’s Azul upgrade. The global crypto market cap remains above $2.7 trillion and Bitcoin is trading above $80,000.

Starknet plans to launch strkBTC on May 12. Governance proposals SNIP-38 and SNIP-39 passed, approving a federated Bitcoin wrapper design and making strkBTC eligible to be staked on the network. The wrapper includes optional privacy features. The STRK token fell more than 4% in the 24 hours before the launch but has gained about 32% over the past week.

Ronin will migrate from a sidechain to a full Ethereum layer-2 built on the OP Stack on May 12. The redesign reduces token inflation from over 20% to under 1%. RON has risen about 17% over the past seven days and was trading near $0.111 at the time of reporting.

SushiSwap plans to deploy Perps v2 on May 11, expanding the protocol into cross-chain derivatives as part of its Super Swap roadmap. The release runs alongside trading incentives: users can earn Sushi Points and participate in a profit-and-loss contest that continues through May 15. SUSHI has increased roughly 15% in the last week and traded near $0.248.

Base’s Azul upgrade is scheduled for May 13 and is described as the network’s first major independent evolution. Azul is expected to introduce protocol-level changes for the Base L2 ecosystem. Separately, Ethena has confirmed an upcoming product reveal and MegaETH intends to launch an all-in-one crypto wallet later in the month.

The U.S. Senate Banking Committee will consider the Digital Asset Market Clarity Act on May 14. The bill aims to define market structure, jurisdictional boundaries and consumer protections for digital assets and stablecoins. Banking groups have raised objections to a proposed compromise that would allow crypto firms to offer rewards tied to stablecoin usage, arguing such rewards could reduce bank lending and shift deposits to crypto platforms. Supporters face a narrow timeline: if the bill does not clear the May 21 Memorial Day recess, it risks falling off the floor schedule. President Donald Trump has publicly opposed efforts by banks to block the measure.

Regulatory and macro events are occurring alongside the protocol schedule. Kevin Warsh cleared a procedural vote ahead of a full Senate confirmation expected this week. April’s employment report showed 115,000 jobs added and a 4.3% unemployment rate. Market indicators show Bitcoin up about 2% over seven days and 10% over 30 days; Ether is up roughly 4% over 30 days but remains down about 22% since the start of 2026. The crypto fear-and-greed gauge sits in a neutral range as traders weigh the flow of upgrades, product launches and potential new rules.