In today’s crypto market recap, the overall landscape shows a slight correction amid ongoing volatility. The global crypto market capitalization stands at approximately $4.03 trillion, down 0.14% in the last 24 hours.
Crypto Market Overview
Bitcoin (BTC) is trading around $119,000, reflecting a 2.4% dip after hitting a record high of $124,000 yesterday, influenced by hotter-than-expected U.S. PPI inflation data at 3.3%.
Ethereum (ETH) follows suit with a 1.6-2.3% decline, hovering between $4,600 and $4,700. Altcoins like XRP saw steeper drops of 6-7%, while tokens such as OKB bucked the trend with gains tied to positive developments.
Meme coin Highlights
- $DGEN (Degen): Degen meme coin on Solana aiming for a billion-dollar market cap with playful community-driven narrative.
- $LEGOFY (Lego Cult): Lego-themed cult meme coin on Solana with tax rewards and a burning mechanism for holders.
- $SUS (Sol Sus): Suspicious seal-themed meme coin on Solana blending humor and scam-biting power for young users.
- $BORIS (Boris): Emerging Boris-inspired meme coin on Solana featuring humorous character-driven viral potential.
- $AIONIX (Aionix: The Hub Of AI): AI hub meme coin on Solana, integrating artificial intelligence narratives and community innovation.
- $STUPID (STUPID INU): Humorous Stupid Inu meme coin emerging as key contender in Solana ecosystem.
- $RUGPROOF (Launchpad on BAGS): Rug-proof launchpad meme coin on Solan, ensuring safe token launches and fair deployments.
- $MSI (Mysterious Source Of Income): Mysterious income source meme coin for Solana traders with a legendary gains narrative.
- $SOL6900 (Solana6900): Solana version of the 6900 meme trend is skyrocketing in the meme coin space.
- $FARTLESS (FARTLESS COIN): Humorous fartless-themed meme coin on Solana promoting odor-free fun and community laughs.
Key Crypto Market Recap Events
This crypto market recap highlights major news driving sentiment:
- Market Adjustment and Liquidations: Over 90% of the top 100 coins declined, leading to $1 billion in liquidations. BTC holds support at $119,000, signaling potential recovery, with market sentiment remaining “greedy” as capital shifts to altcoins and DeFi.
- Gemini Files for IPO: The Winklevoss-led exchange submitted IPO documents, marking a milestone for crypto’s mainstream integration following precedents like Coinbase. This could boost investor confidence in regulated platforms.
- Coinbase Acquires Deribit for $2.9 Billion: Coinbase’s sixth acquisition in 2025 expands its derivatives offerings. Deribit, with $59 billion in open interest and $1 trillion in options volume, strengthens Coinbase’s global footprint.
- Regulatory Shifts: The U.S. Fed ended its special oversight program for crypto and fintech banks, easing burdens and fostering traditional finance integration. Meanwhile, Hong Kong tightened stablecoin rules with strict KYC requirements starting August 1, 2025, raising privacy concerns.
- ETF Flows and Delays: Ethereum ETFs attracted nearly $3 billion in inflows last week, outpacing Bitcoin ETFs and pushing ETH up 1.6% to $4,639. However, the SEC delayed decisions on Solana ETFs from Bitwise and 21Shares until October, stalling SOL near $190.
- Other Notable Updates: A Trump-backed Bitcoin mining firm eyes Asian partnerships; OKX burned 279 million OKB tokens worth $26 billion; Ronin shifts to Ethereum L2; MetaMask launches mUSD stablecoin; Tether develops AI SDK for payments; Citigroup joins stablecoin custody; Taiwan establishes a $10 million Bitcoin reserve.
Outlook in This Crypto Market Recap
Despite short-term dips, long-term trends point to positive outcomes with mainstream adoption. Regulatory clarity and ETF momentum could fuel altcoin rallies.
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