Crypto Market Update: BTC Dips, Pump.fun Surges 16%

Crypto Market Sees $3.79T Cap, BTC Drops 1.92%

24 hour Crypto Market Update

The global crypto market cap today is $3.79 Trillion, a -4.08% change in the last 24 hours and 52.64% change one year ago. As of today, the market capital of Bitcoin is at $2.34 Trillion, representing a dominance of 61.69%. The crypto market dipped 0.63% in the last 24 hours, aligning with a broader cooling-off phase after recent gains. 

Major Events To Watch

Fear and Greed Index:

Latest Market Update: 

• The price of Bitcoin has seen a drop of 1.92%  the past 24h reflecting profit-taking after recent gains and whale-driven supply shocks, amplified by overheated technical indicators.

• Ethereum gained a  3.56% of price gain reflecting bullish technical momentum, institutional adoption news, and positive regulatory shifts.

• Other prominent cryptocurrencies, such as Ripple ($XRP), Solana ($SOL), Dogecoin ($DOGE), , and Binance ($BNB), displayed marginal gains and losses.

• Pump.fun token is top gainer surging 16.56% in the last 24 hours and currently trading at $0.006707 USD price today.

• Pump.fun, Toncoin, and Pudgy Penguins are the top 3 trending token now. In the past 24 hours, the price of Pump.fun changed by 16.56%, Toncoin price changed by 2.7%, and Pudgy Penguins price changed by 6.9%.

• The global crypto market cap today is $3.79 Trillion with a dip of 3.7% .

• Bitcoin dominance is at 61.69% and Ethereum dominance is at 9.95% in the crypto market

Major Worldwide Crypto Market News Update:

• Interesting move by Figure Tech! Figure Technology Solutions, a blockchain lending platform, plans to launch an initial public offering (IPO) in the coming months, building on a more crypto-friendly regulatory environment and increased investor interest.

• By establishing cross-market organizations to facilitate practical application, the UK government intends to promote the use of tokenization and distributed ledger technology (DLT) in wholesale markets. Regulators will use the digital securities sandbox to test payment innovations, such as tokenized deposits and stablecoins, as part of this plan.

• SharpLink Gaming has added another 5,188 ETH, worth around $15.76 million at current rates, increasing its total ETH holdings to 285,894 ETH, valued at $871.19 million.

• House Republicans failed to pass a procedural motion that would have permitted the discussion of multiple crypto-related bills as well as the defense appropriations bill, with 196 votes in favor and 222 against. Members of the House Freedom Caucus criticized the measure because it combined the GENIUS Act with other crypto legislation.

• Vanguard is Strategy's largest stakeholder, holding a record 20.6 million shares ($MSTR). This represents approximately 8% of the company's outstanding common stock.Their ownership has doubled in the last two years.This comes as various Vanguard mutual funds and ETFs have added shares while tracking a variety of benchmarks. This encompasses small and mid-cap benchmarks, as well as momentum, value, and growth strategies.

• President Trump says “happy crypto week” and says Congress will vote on a bill to “make America the undisputed, number one leader in digital assets.” President Trump confirms the House will vote again tomorrow morning to advance the GENIUS and CLARITY Acts

• Pumpfun allegedly transferred 101,900 SOL, valued around $16 million, to a buyback address. Pumpfun has sold approximately 4.1 million SOL ($741 million) at an average price of around $180 since May 19, 2024.

• Casa co-founder Jameson Lopp and five engineers have presented a Bitcoin upgrade proposal that would phase out quantum-vulnerable address variants. The idea encourages users to move to post-quantum safe addresses and would restrict Bitcoin spending within five years. Approximately 25% of all Bitcoin is at risk, including 1 million BTC thought to belong to Satoshi.

COIN GABBAR Views: The crypto market is going through a natural cooling-off phase after strong recent gains. While Bitcoin saw a slight drop due to profit-taking and market corrections, it still holds a dominant position, making up over 61% of the total crypto market. On the other hand, Ethereum showed strong momentum, gaining over 3%, backed by growing institutional interest and positive news around regulations.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is 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 markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.