In this crypto market recap, the cryptocurrency landscape experienced a sharp correction over the past 24 hours, with total market capitalization dipping 3-5% to below $4 trillion, from around $4.1 trillion to $3.89-3.97 trillion.
Bitcoin (BTC) fell about 2.5% to $112,890, while Ethereum (ETH) dropped 6.2% to $4,196. This downturn, fueled by global risk-off sentiment post-Fed rate cuts and ETF capital shifts, led to $1.7 billion in liquidations, primarily long positions.
Despite the dip, institutional inflows hit $1.9 billion last week, boosting assets under management to a record $40.4 billion, led by BTC ($977 million) and ETH ($772 million). However, U.S. spot Bitcoin ETFs saw $51 million in net outflows.
Key Highlights in Crypto Market Recap
- Massive Liquidations and Price Swings: Over $1 billion in long positions liquidated in just 30 minutes, triggering a “crypto crash.” $BTC hit a low of $112,500, $ETH below $4,200, and $SOL to $221. The altcoin season index fell from 100 to 67, signaling stablecoin and BTC dominance.
- Institutional BTC Accumulation: Japan’s Metaplanet added 5,419 BTC worth $632.5 million, raising its holdings to over 25,500 BTC ($2.7 billion), ranking it fifth among public holders. MicroStrategy’s Michael Saylor hinted at more buys with his “Orange Dots” comment.
- Stablecoin Expansions: Tether launched USAT to bolster U.S. presence. In Bolivia, brands like Toyota and Yamaha accept USDT amid USD shortages. Ethena’s USDe supply surged $65 million in a week, while Kaia and LINE NEXT introduced an Asian super-app for payments and remittances.
Meme Coin Highlights
- $TROLL (TROLL): Solana meme leader dipped to $90M MC, accumulating for a 400-800M surge; volatile growth potential.
- $TDOG (DOGECOIN ETF): Dogecoin ETF-themed meme launched with $17M volume, whale-driven 24% surge; high volatility.
- $CANCER (HELP ME BEAT CANCER): Viral charity meme with 151x growth to $11M in days; emotional narrative, crash risks.
- $GIGGLE (Giggle Fund): BNB charity meme donating to academy, 35x potential to $1B; utility-focused hype.
- $MORI (Mori Survival): AI idol survival meme needing SOL, 12x rapid pumps; high volatility limits.
- $TISM (This is a special memecoin): Special memecoin in uptrend, 38x growth with listings; sustainable volume.
- $ASTER (Aster): CZ-backed DEX token, 1789% weekly growth to $1.50; extreme volatility.
- $MAMMALTOn (CRAIG MAMMALTOn): Craig-themed meme with quick 3x pumps, $4M volume; high risk dumps.
- $CPMM (1 coin can change your life): Life-changing narrative meme, steady growth potential; limited hype, volatility.
- $Tokyo (Project Tokyo): Solana project meme, recent pump to $757K MC; viral dips possible.
Regulatory and DeFi Developments
The EU approved a digital euro roadmap, empowering finance ministers on launch timing and holding limits. Spot XRP and DOGE ETFs debuted with $55 million in volume.
In DeFi, Vitalik Buterin urged focus on low-risk applications like payments and lending over memecoins. CoreWeave, a former crypto miner, hit a $50 billion valuation via AI pivots.
SkyBridge’s Scaramucci invested $550 million in Avalanche tokens, and crypto neo-bank Shield raised $5 million.
Token Spotlights and Security Notes
- ASTER topped $BTC in Hyperliquid perpetual volume with a $15 billion FDV before correcting, while AVNT hit $2.6 on Base.
- Trump-linked $WLFI plummeted post-launch.
- Crypto.com reported a staff account hack with limited data exposure but no fund losses.
- Arthur Hayes profited $823,000 from selling $HYPE tokens.
- Gold’s $ATH weekly close suggests potential coexistence with $BTC in central bank reserves.
Overall, this crypto market recap highlights short-term volatility amid long-term bullish signals from institutions and regulations.
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