Crypto Market News: Top Gainers, ETF Flows, Fed Drama

What’s Driving the Surge in the Crypto Market Today?

Today, the total value of the world's cryptocurrency market is $3.99 trillion, which is 3.24% from the last day. The total volume of cryptocurrencies traded on the last day was $242.70 billion. The dominance of Bitcoin is +58.51%, whereas that of Ethereum is +11.38% in crypto market.

Major Crypto Market Events To Watch

Crypto Market Fear and Greed Index:

Over the last 24 hours, the "Fear and Greed Index." Presently holding at 67 on a scale ranging from 0 to 100, the current crypto market sentiment reflects a sense of optimism. With a brief spike into Greed one week ago, the sentiment of the crypto market has remained steadily in Greed over the past month.

Most recent update on the crypto market:

• Bitcoin's price increased by 0.92% during the previous 24 hours to $119.29k.Capital is migrating from Bitcoin to altcoins, reducing Bitcoin's dominance. Altcoins such as Ethereum, XRP, and Solana are gaining traction, and their correlation to Bitcoin has shifted negative.

• The positive ETF inflows, regulatory clarity, and technical momentum all contributed to Ethereum's 1.12% 24-hour price increase.

• The $180–$184 barrier level was breached by SOL on July 21.Technical breakthrough momentum, altcoin shift away from Bitcoin, and positive network developments are all factors in Solana's 10.3% 24-hour climb. With a 24-hour trading volume of $11,268,912,795 USD, the current Solana price is $196.99 USD.

• The three most popular cryptocurrencies right now are Ethereum, Spark, and Pudgy Penguins. The price of Ethereum changed by 0.6%, the price of Spark changed by 52.9%, and the price of Pudgy Penguins changed by 20.7% during the last day.

• The price of Spark rose 57% in a day, indicating strong bullish momentum. Bullish technical momentum, altcoin rotation, and expanding ecosystem usage all contributed to SPK's surge. Today, the price of Spark is $0.064050 USD.

• PENGU surged 21.8% and Blackhole (BLACK) rose 7.19% in 24 hours due to bullish technicals, surging trading volume, and altcoin rotation.

• Dogecoin ($DOGE) and Binance ($BNB), among other well-known cryptocurrencies, had mild increases.

• OM coin fell 5.78% in 24 hours due to fading bullish momentum, technical resistance, and profit-taking after a recent rally, indicating natural consolidation and sector rotation.

Major Worldwide Crypto Market News Update:

• Crypto journalist Eleanor Terrett announced that the White House's first crypto policy report is expected to be submitted on July 22 and released by the end of the month.

• Strategy ($MSTR) announces $STRC, a Perpetual Preferred Stock with a 9% initial yield, designed to fuel more Bitcoin accumulation.

• GameSquare Holdings has raised its treasury authorization from $100 million to $250 million and introduced a new Ethereum-based NFT strategy with an initial $10 million allocation.

• Rep. Anna Paulina Luna refers Fed Chair Jerome Powell to the DOJ for criminal prosecution.  Accused of perjury, twice, over misleading testimony about the Fed’s luxury renovation project.

• Tron founder Justin Sun is set to join the upcoming Blue Origin rocket launch, four years after bidding nearly $30 million for a seat.

• Polymarket plans to acquire QCX for $112M, allowing it to legally reopen to US users after the DOJ and CFTC dropped investigations into previous violations.

• Western Union CEO says the bank is looking into offering stablecoin products in its digital wallets to the customers around the world.

• Ethena launches StablecoinX to capitalize on the growing digital dollar trend, with plans to buy back ENA shares as the ENA price rises 8%.

A strong optimistic mood and a shift away from Bitcoin and into altcoins like Solana, Spark, and Pudgy Penguins are showing up in the global crypto market, which is already close to $4 trillion. Investor confidence is increasing as Ethereum gains on ETF optimism and Solana breaks technical boundaries. The next stage of this rise may be influenced by impending changes in U.S. policy, but the Fear & Greed Index, at 67, indicates consistent confidence.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments are for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.