Crypto Market RoundUp Aug 23: ETH Smashes Record $4762, BTC up 3%

What Happen In Crypto Today: Trump WLFI Token Launch on Ethereum News

The total crypto market capitalization is currently at 4.09 trillion, a surge by 4.8% over the past 24 hours. The total trading volume was over $219 billion, with Bitcoin dominance being 56.6% and Ethereum at 14.1%. The cryptocurrencies tracked till now are 18270.

Major Crypto Events Today, 23 August 2025

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin is currently priced at $116,355, representing a 3.1% increase over the past day, with a market capitalization of $2.31 trillion and a substantial $50 billion in trading volume. Bitcoin is currently dominating at 56.6%.

Top Trending: Ethereum (ETH) reaches its all time high with $4,762.91, surged by 11.8% in 24 hours with trading volume $62 billion and market cap. $575 billion. Alongside, Memecoin (MEME) with a price $0.003961 soars 54.8% with TV 368M and Ethena (ENA) at $0.7509 up by 17.4% with TV 1.54B.

Top Gainers: Memecoin (MEME) soared 54.8% to $0.003961 with $368M trading volume, topping today’s gainers. SPARK gained 47.9% to $0.03825 with $28M TV, while REI jumped 43.1% to $0.1217 with $3M TV. 

Top Losers: Huobi HT slipped 36.% to $0.6329 with $2,284,266 counted in top losers today. OKB declined 17.8% to $208.50 $1.3B. Kanye West memecoin YZY token losing 14% to $0.7124 with TV $111M

The stablecoin market cap is 280 billion, slightly changed by 0.1%. With a 24-hour trading volume of $155.92B, it provides liquidity and security in times of volatility.

The current Defi market cap is at 177 billion, up by 10% over the past 24 hours. Daily trading volume is at about $14.30 billion, with DeFi contributing 4.3% of the total activity.

Fear and Greed Index today

Source: Alternative me

The Crypto Fear & Greed Index turns 60 (Greed). The index was neutral yesterday. However, Greeding at 56 last week and 71 last month. This increment indicates that investors are getting playful.

Latest Market News 23 August 2025

WLFI is launching its token on Ethereum after raising $550M from 85,000 investors, linked to a Trump-inspired DeFi project. Starting September 1, 20% of tokens will be available for early supporters, while the rest depends on a community vote. Backed by Chainlink oracles and a $76.9M reserve, the launch tests DeFi’s ability to balance hype and governance.

Trish Turner, head of the IRS Crypto Unit, has resigned just months after taking the role, joining tax advisory firm CryptoTaxGirl instead. Her exit comes amid mass resignations, funding cuts, and leadership turmoil at the IRS, raising concerns about how the weakened agency will manage new crypto tax rules and growing filings in the 2026 tax season.

The U.S. government has bought a 10% stake in Intel, worth about $10 billion, as part of the CHIPS Act push to boost local chipmaking and compete with China. The investment, though non-voting, comes after Intel’s chip delays and shrinking U.S. share in global production. Critics say it blurs America’s free-market image.

Several major firms, including Grayscale and Franklin Templeton, updated their XRP spot ETF filings on August 22, 2025, likely after SEC feedback. With an October decision deadline, hopes are rising that XRP could become the first altcoin ETF approved, marking a big shift after Ripple’s past SEC battles, though uncertainty and price volatility still remain.

Fed Chair Jerome Powell announced that the U.S. central bank is dropping its 2020 flexible average inflation targeting strategy, saying tariffs are clearly raising consumer prices and inflation expectations can’t be taken for granted. He hinted at possible preemptive rate hikes if the labor market overheats. The statement sparked a crypto rally, with BTC and ETH jumping sharply.

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