18.07.2025 02:55
Cryptocurrency markets experienced significant shifts, with Ethereum (ETH) outperforming Bitcoin (BTC) and sparking a wave of buybacks. The momentum saw ETH and Dogecoin (DOGE) leading major cryptocurrencies upward. This surge followed substantial institutional interest, evidenced by ETH exchange-traded fund (ETF) inflows reaching 50-90% of Bitcoin's inflows. The contrast is particularly striking, given that BTC exchange inflows previously spiked to $9.4 billion after the release of the Consumer Price Index (CPI) data.
Legislative hurdles continue to plague the crypto space. The House of Representatives failed to advance crucial cryptocurrency bills, delaying a potential vote scheduled for the day. However, a political twist emerged as Donald Trump predicted an about-face from eleven representatives who initially opposed the legislation. This development follows resistance from decentralized finance (DeFi) leaders who voiced objections to certain aspects of the proposed bills. Meanwhile, significant corporate activity unfolded, with Cantor Fitzgerald nearing a $4 billion special purpose acquisition company (SPAC) deal to acquire Bitcoin holdings and COIN stock achieving an all-time high, surpassing a $100 billion market capitalization.
Further fueling the market's dynamism, several notable events transpired. Sharplink, a cryptocurrency firm, saw its valuation reach $30 million, fueled by its growing ETH reserves. Peter Thiel, a prominent venture capitalist, secured a 9% stake in BMNR, a company managing ETH treasury assets. Regulatory actions included the Department of Justice (DoJ) concluding its investigation into Polymarket, a prediction market platform. Conversely, the cryptocurrency landscape also saw negative incidents, such as a $27 million hack targeting the BigONE exchange and a $10 million cryptocurrency seizure from the Sinaloa cartel by the Drug Enforcement Administration (DEA). Looking beyond US borders, the United Kingdom is poised to significantly expand its adoption of distributed ledger technology (DLT) and tokenization initiatives. These developments, sourced from various online news outlets, paint a vibrant and volatile picture of the evolving cryptocurrency market.
