- Bitcoin rose to $62,573 because the market capitalization of cryptocurrencies reached $2.17 trillion.
- International foreign money deposits soared to just about 49,000 BTC, a stage that was solely reached 4 occasions in 2026.
- Gillibrand proposes banning officers from issuing or sponsoring private tokens.
Bitcoin rose 1.96% up to now 24 hours to commerce round $62,573, whereas Ethereum outpaced it, rising 3.34% on the day to commerce round $1,758, for a weekly acquire of over 11%. XRP soared to $1.14, up greater than 5% for the day and greater than 8% for the week, whereas Solana added 4.09% to commerce close to $84, up greater than 16% in seven days.
The market capitalization of cryptocurrencies was $2.17 trillion, a rise of two.14% up to now day. Regardless of the rally, sentiment stays combined, with the Concern & Greed Index nonetheless in “concern” territory at 26, whereas the Altcoin Season Index stays at 48, indicating Bitcoin continues to steer general market efficiency.
CryptoQuant warned that a rise in trade deposits throughout Bitcoin, Ethereum and altcoins is an indication that volatility may intensify. Bitcoin deposits on the trade rose to just about 49,000 BTC on June 30, however this stage has solely been reached 4 occasions this yr, and traditionally there have been spikes of comparable magnitude adopted by sharp worth actions.
Cryptocurrency futures liquidation quantity reached roughly $185 million in 24 hours on July 3, with quick liquidation accounting for a big share of $102 million, in comparison with lengthy liquidation of $83.29 million. Binance had the very best quantity of liquidations amongst exchanges.
Massive holders and whales proceed to be lively
In keeping with on-chain monitoring, the Bhutanese authorities moved 700 BTC value roughly $43.75 million to Binance. Individually, F2Pool co-founder Wang Chun deposited a further 9,876 ETH (value roughly $17.02 million) to Binance, and a pockets linked to LSE-listed KR1 plc transferred 3.7 million LDOs value roughly $990,000 to Kraken.
Ethereum co-founder Vitalik Buterin used the privateness protocol RAILGUN to switch 79 ETH value roughly $137,000. Final week, HyperLiquid Methods purchased a further 600,000 shares of HYPE value about $40.6 million, lowering its money reserves to about $149.4 million.
Regulatory strain will increase on a number of fronts
Sen. Kirsten Gillibrand proposed banning elected officers and presidents and their spouses from issuing or sponsoring private digital property. Gillibrand is likely one of the lawmakers negotiating ethics provisions within the Readability Act, which has confronted repeated delays over tokenization and stablecoin rewards.
India’s central financial institution informed parliament it helps a “quarantine plus ban” method to cryptocurrencies, recommending that regulated banks and monetary establishments be fully remoted from crypto property and privately issued stablecoins. The RBI has warned that treating cryptocurrencies like conventional monetary devices can create a false sense of safety, and reiterated that it’ll prioritize the event of central financial institution digital currencies as an alternative.
In the USA, the New Hampshire State Legislature handed the Blockchain Fundamental Act, giving residents the precise to self-custody and pay for his or her digital property with out further native taxes or restrictions, and establishing a courtroom particularly for blockchain disputes.
Stablecoin disputes and market information are below scrutiny
The licensed ruble-pegged stablecoin A7A5 has been in a dispute with a blockchain analytics agency over its precise buying and selling quantity. Whereas the issuer claims common each day buying and selling quantity from January to mid-June has reached practically $205 million, TRM Labs estimates the precise determine to be nearer to $75 million and says exercise has declined in latest months.
Circle minted a further 250 million USDC on Solana by means of the USDC Treasury, including new liquidity to the community.
Platform and protocol transformation
Offramp, a cross-border cost platform serving freelancers in Latin America, has introduced a gradual closure till the top of the yr, with cash switch and card providers already disabled. Solana-based NFT platform Alternate Artwork additionally confirmed plans to close down, citing a protracted downturn in on-chain artwork buying and selling.
Brantly Millegan, director of operations at ENS Labs, introduced his exit from the mission, saying many of the related facet initiatives can be completed within the coming weeks and the code will stay open supply. Privateness computing mission Sunscreen has introduced that it has been acquired by Fhenix and that its crew will be a part of to proceed creating totally homomorphic encryption.
African trade VALR has confirmed that it’ll launch a perpetual contract product on July 6 by integrating Hyperliquid’s liquidity and execution layers.
associated: Bitwise spots updates on NEAR ETF software with staking characteristic as SEC evaluation continues
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