Just Memecoin Skyrockets! Crypto Market Cap Update
Fear or Greed? Decode the Latest Crypto Market Moves!
The global cryptocurrency market cap has experienced a slight decline of 2.50% in the last 24 hours, settling at an impressive $3.94 trillion. In this time frame, a total trading volume of $255 billion has been recorded, showcasing the intense activity within the market. At the forefront, Bitcoin continues to lead with a dominance of 59.4%, while Ethereum maintains its position with a dominance of 11.4%.
Crypto Market Fear and Greed Index:
Over the past day, the market sentiment has registered on the “Fear and Greed Index,” which is currently sitting at 72 on a scale of 0 to 100. This number not only reflects a positive shift in market perception but also represents optimism, especially given the peak of greed observed a week ago. For the past month, the sentiment has been steadily leaning towards greed, raising questions about sustainability.
Most Recent Update on the Crypto Market:
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Bitcoin’s price is currently trading near $117,388, with a 24-hour trading volume of approximately $101.6 billion. This marks a slight decrease of 0.30% over the last day, prompting analysts to consider whether this represents a temporary lull or a larger trend.
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Meanwhile, Ethereum is performing notably well, hovering around $3,717.54, reflecting an increase of 4.17% in just 24 hours. This surge can largely be attributed to ETF-driven institutional demand and profit-taking by validators, supported by a trading volume of about $39.3 billion.
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An interesting development in the memecoin arena is Ethena, which has seen its price escalate by an impressive 28.3% within the last day, reaching $0.047449. This rapid increase in trading volume, which stands at $15.6 million, comes in the wake of larger memecoin gains amidst Bitcoin’s slight decline.
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In contrast, Vine Coin has taken a hit, dropping 3.86% after a massive surge of 59.30% prior to this change. This fluctuation exemplifies the volatile nature of the crypto market, often influenced by broader market movements.
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Other notable cryptocurrencies such as Dogecoin (DOGE), Solana ($SOL), and Binance (BNB) have also gained marginally today, indicative of a broader positive trend within the altcoin market.
Major Worldwide Crypto Market News Update:
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In a significant development, Tyler Winklevoss has intensified his public feud with JPMorgan Chase & Co., alleging that the bank has paused onboarding his crypto exchange Gemini as a customer due to his criticisms.
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A recent transfer from a Satoshi-era wallet, which involved moving 80,000 BTC (valued at approximately $9 billion) to Galaxy Digital, has ruffled feathers in the market. With 30,109 BTC hitting various exchanges within a mere 24 hours, this massive transaction coincided with Bitcoin’s price drop, attracting scrutiny and discussion among market participants.
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Volcon has made headlines by acquiring an additional 2,903 BTC, increasing its total holdings to 3,183 BTC, signaling bullish sentiment from institutional players.
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On a governmental level, Vietnam has launched its national blockchain initiative called NDAChain, aimed at enhancing digital IDs, smart contracts, and government records through hybrid decentralization.
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Additionally, AguilaTrades has transitioned its strategy to favor Ethereum, flipping their position from a long on Bitcoin to a long on Ethereum with a significant leverage of 25x, amounting to 17,500 ETH valued at $65 million.
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In a notable change in leadership, the former Head of Digital Assets Strategy at BlackRock, Joseph Chalom, has joined SharpLink as Co-CEO, aiming to position Ethereum at the heart of global finance.
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Strategy has set a pricing for its Variable Rate Series A Perpetual Preferred Stock at $90 per share, with expectations of raising around $2.474 billion in net proceeds upon settlement.
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The Ethereum ETF has crossed the $10 billion mark in assets under management for the first time, marking it as a record achievement within the ETF space. This is the third-fastest ETF achievement in just 251 trading days, with a remarkable doubling of assets in the last 10 days alone.
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First, Binance Alpha is preparing to feature Treehouse (TREE) on July 29th, showcasing the continuing innovation and expansion of blockchain projects.
Despite a slight dip in Bitcoin’s value, the global crypto market cap surged to $3.94 trillion within the past 24 hours. This boost can be attributed to a robust rally in altcoins and the burgeoning momentum surrounding Ethereum ETFs, illustrating a thriving ecosystem of cryptocurrencies, memecoins, and various new blockchain adaptations.
Disclaimer: Coingabbar’s guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments are for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
