The cryptocurrency market is always evolving, with various developments affecting the prices and trends of different digital assets. Recently, market reporter Cody Buffinton provided updates on key players in the market, including Bitcoin, ONDO Finance, Near Protocol, and others. Bitcoin, the largest cryptocurrency by market capitalization, saw its price drop to $61,000 following news of a significant sale by the US government. Arkham Intelligence data revealed that a US government-linked address transferred a large amount of BTC, sparking speculation about potential government actions in the cryptocurrency space.
Altcoins like ONDO Finance, Blast, and Near Protocol are also making waves in the market. ONDO Finance experienced an 18% price drop after reaching $148 on June 3, but on-chain data suggests a potential bullish trend. Its realized cap of $1.15 billion indicates strong support, while its market cap of $1.7 billion points towards possible continued bullish momentum. Near Protocol (NEAR) has shown impressive growth, with its total value locked tripling from $90.7 million in January to $324.5 million in June. The network’s transaction volume has also surged, along with an increase in new wallets, from approximately 96,000 in Q1 2023 to nearly 18.4 million in Q2 2024.
Additionally, the newly launched Blast layer 2 blockchain has seen a 20% price increase since its debut, reaching a fully diluted value (FDV) of $2 billion. This showcases the growing interest in layer 2 solutions and the potential for further growth in the cryptocurrency market. In other news, Web3 entertainment company Creta World is set to debut on the Philippine exchange Coins.ph on July 8th. Creta aims to provide NFT-gaining solutions and intuitive game creation services that allow users to design and monetize their creations. Furthermore, layer-1 blockchain Sui has partnered with Copper, a digital asset custody company, to enhance custody infrastructure in its ecosystem.
It is important to note that the information provided in this article is for informational and educational purposes only. Coin Edition does not provide financial advice, and readers are advised to exercise caution before making any investment decisions. The cryptocurrency market is volatile and subject to regulatory changes, so it is essential to conduct thorough research and seek professional advice before investing in digital assets. Stay informed of market developments and trends to make informed decisions and navigate the ever-changing landscape of the cryptocurrency market.