Bitcoin is trading at $63,418, representing a 1.85% decrease over the past 24 hours, while total cryptocurrency market capitalization is at $2.18 trillion. Ethereum has also dropped 3.90%, trading around $1,846.
XRP is holding near $1.08, and Solana has fallen to $74.96. Hyperliquid's HYPE token experienced a significant decline of 9.03%, trading at $60.36, following an 11.28% decrease on a weekly basis.
The Fear & Greed Index currently sits at 32, indicating market fears, and the Altcoin Season Index shows a rating of 48.
Recent Developments in Crypto
T. Rowe Price has introduced TKNZ, the first active multi-token crypto ETF on NYSE, starting with around $15 million in initial assets and a management fee of 0.75%. The fund primarily allocates 40.75% to Bitcoin, with other notable allocations to Ethereum, BNB, Solana, and a significant 6.45% in Hyperliquid.
In institutional investments, Crypto.com secured $400 million from Citadel Securities at a valuation of $20 billion, marking its first institutional funding round. Additionally, Visa launched its Stablecoin Platform to facilitate payment solutions for over 15,000 financial institutions.
According to CoinGecko’s Q2 report, the total crypto market cap decreased by 12.6% in the past quarter, dropping to $2.1 trillion. Spot trading volume on centralized exchanges has also experienced a decline of 27.9% to $1.95 trillion, reaching a monthly low of $620 billion in May.
This material is for informational purposes only and is not financial advice.
