Crypto News Today
Staying updated on market developments is essential for making informed financial decisions. This week saw notable shifts across global markets and the cryptocurrency sector.
Here’s a closer look at the highlights. One thing we can tell you – it’s been a tough week across the board!
The S&P 500 index dropped by 2.02%, falling from $6,050.84 to $5,930.84. Other major markets followed suit, with Europe down 2.04%, China slipping 0.65%, and similar trends seen in Japan, India, South Africa, and Australia.
Key developments in the US include:
Additional Indicators
Economic data presented mixed results:
Housing data remained weak, with the NAHB Housing Market Index steady at 46 points and Housing Starts dropping to 1.29 million units from 1.31 million.
TThe US dollar gained ground against major currencies, including the Euro (+0.70%), Chinese Yuan (+0.27%), Japanese Yen (+1.78%), and Indian Rupee (+0.20%).
The cryptocurrency market cap fell by 8.2%, with the altcoin market cap dropping from $1.55T to $1.39T. Excluding Bitcoin and Ethereum, the market cap declined from $1.07T to $969.31B. Cryptocurrencies outside the top ten saw a sharp drop, with their market cap falling to $348.32B from $406.93B.
Bitcoin faced significant challenges this week:
Ethereum also struggled:
Most top cryptocurrencies posted losses:
Binance HODLer Airdrops, Circle Ventures Portfolio, Binance Launchpool, Binance Labs Portfolio, and Coinbase Ventures Portfolio are the top five trending categories at the time of writing. Among these categories, Binance HODLer Airdrops displays the highest seven-day change of +181.3%.
Hyperliquid, LUKSO, Pudgy Penguins, Ethena, and Sui are the top five trending cryptos. Among the top five, Hyperliquid showcases the highest seven-day change of 54.6%.
In the last seven days, the Smart Contract Platform category has declined by around 6.7%, Layer 1 by 6.0%, Proof of Work by 4.4%, Proof of Stake by 11.6%, Centralised Exchange Token by 4.1%, Decentralised Finance by 9.9%, Meme by 16.9%, Liquid Staking by 11.7%, Crypto-Backed Tokens by 8.7%, Wrapped-Tokens by 8.6%, Decentralised Exchange by 3.8%, Artificial Intelligence by 14.5%, DePIN by 17.6%, NFT by 21.4%, Layer 2 by 13.1%, GameFi by 20.7%, Yield Farming by 17.4%, Real World Assets by 8.9%, Layer 0 by 19%, Metaverse by 20.7%, Internet of Things by 20.1%, Gaming Utility Tokens by 19.5%, Gaming Governance Tokens by 19.9%, Liquid Staking Governance Tokens by 22.2%, and Bridge Governance Tokens by 18.6%.
Meanwhile, Stablecoins has grown by 0.8%, Perpetuals by 35.9%, Binance HODLer Airdrops by 181.3%, AI Agent Launchpad by 2.2%, and Virtuals Protocol Ecosystem by 13.9%.
Global markets, including the US, Europe, China, and India, experienced declines alongside an 8.2% drop in the cryptocurrency market. Bitcoin, Ethereum, and other major cryptocurrencies recorded significant losses, while the US dollar strengthened against major currencies. Despite these challenges, Stablecoins and Perpetuals showed resilience.
Market fluctuations may shake confidence, but they also fuel the persistence that drives long-term growth.
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