Crypto News Today: Crypto Market Rebounds After Sell-off
- Bitcoin's price has held above $61,500, while Ethereum is struggling to breach the $3,400 mark
- The cryptocurrency market experienced a 0.70% rise, raising its total market capitalization to $2.40 trillion
Crypto market cap climbed 0.7%, reaching $2.4 trillion total
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Rep. Matt Gaetz has proposed a bill that could allow Americans to pay their federal taxes using Bitcoin in the near future.
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VanEck and Franklin Templeton have announced their fees for a spot Ethereum ETF, with other players waiting for BlackRock's decision before proceeding.
Major Events To Watch
Crypto Fear and Greed Index:
The Crypto Fear and Greed Indicator shows a score of 46 (Fear) today, down from 60 (Greed) last week and 30 yesterday.
Crypto market has seen an increase in value over recent hour
TOP 5 Gainers Coins
| Indices | LTP | Change (%) |
|---|---|---|
| Brett | $0.1658 | 9.12% |
| Notcoin | $0.01569 | 7.85% |
| Maker | $2349.94 | 7.17% |
| Stacks | $1.73 | 7.00% |
| dogwifhat | $2.04 | 6.72% |
Latest Market Update:
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#Bitcoin ($BTC) price has surged to around $62,000, showing renewed momentum.
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Other major cryptocurrencies like #Fetch.ai (FET), #Brett ($BRETT), Stacks ($STX), #Maker ($MKR), and #Dogwifhat ($WIF) have all gained more than 5%.
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#Notcoin ($NOT) saw the highest increase, rising by nearly 8.61% in the past 24 hours.
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#Pendle ($PENDLE) experienced the largest decline, dropping by over 6.72% during the same period.
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Total crypto market volume over the last 24 hours is $65.28B, a 34.03% decrease.
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Total volume in DeFi is $4.18B, accounting for 6.40% of the total crypto market 24-hour volume.
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Volume of all stable coins is $61.24B, representing 93.81% of the total crypto market 24-hour volume.
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Bitcoin's dominance is 53.47%, an increase of 0.09% over the day.
Major Worldwide News Update:
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In a pivotal development, crypto critic Jamaal Bowman, known for his anti-crypto stance, lost the Democratic primary to George Latimer. Pro-crypto super PACs spent $25 million in ads opposing Bowman, signaling a shift in support towards candidates embracing blockchain innovation. Crypto industry players celebrate this as a win against anti-crypto sentiments.
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VanEck filed Form-8A for its spot Ethereum ETF on June 25, planning to waive ETF fees until 2025 or assets hit $1.5 billion. This move aims to lead in fee competition, despite potential initial losses, focusing on DeFi volume. SEC Chair Gary Gensler noted smooth progress on Ethereum ETF approvals amid market anticipation.
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A US court approved bankrupt FTX's proposal for creditors to vote on a cash liquidation plan, despite objections over asset devaluation. Creditors will decide on repayment after FTX recovered $16 billion, including $12 billion in cash, aiming to settle debts amid claims of unfairness due to lower current crypto values compared to 2022.
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US Congressman Matt Gaetz proposed a bill allowing Americans to pay federal taxes with Bitcoin, aiming to amend the Internal Revenue Code. Inspired by El Salvador's approach, Gaetz sees it boosting innovation and flexibility. This bill joins others like Oklahoma's Bitcoin rights protection and Senator Lummis's push for crypto custody services, amid varying political views on digital assets' regulation.
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Ethereum layer-2 Blast network announced an airdrop for June 26, distributing 17% of total supply to early adopters. The airdrop includes users who bridged assets and contributed to DApps. Top 1,000 wallets face a six-month vesting period. Blur Foundation will receive 3% for future airdrops. Blast is the fourth-largest Ethereum layer-2 by TVL at $2.9 billion.
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Metallica's official X account was hacked to promote a Solana token called METAL. The hackers claimed partnerships with Ticketmaster and MoonPay, which were denied. The token briefly reached a $3.37 million market cap before plummeting 97%. Metallica regained control and deleted the posts. It's unclear how the breach occurred. The band hasn't commented on the incident.
COIN GABBAR Views: Will Bitcoin (BTC) price rally to $65,000 after finding support at $60,000 following a brief bloodbath? Are Bitcoin whales accumulating despite price plunges, hinting at a sharp rebound? Will BTC price retest the $50,000 mark before initiating a new bull run? To get latest news Stay tuned us at coingabbar
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