Crypto Market Sees Minor Decline; Top Performers and Factors Behind Today's Movement

July 3, 2024 BACK TO NEWS

The global cryptocurrency market has experienced a slight downturn today, with its total market capitalization dropping by 1% to $2.43 trillion over the past 24 hours.

Among the top 100 coins, not many have shown gains. The standout performer is BEAM, which surged by 9.4% to reach $0.01866. Following closely, BONK recorded a 9.2% increase, now trading at $0.000026. MultiversX (EGLD) also saw notable growth, rising by 5.8% to $31.97. Other gainers on the list have seen increases below 5%.

Conversely, Starknet (STRK) experienced the largest decline, dropping by 7.4% to $0.6406. Avalanche (AVAX) and Celestia (TIA) followed with losses of 5.9% and 5.4% respectively, now trading at $28.2 and $5.8.

In the top 10 coins by market capitalization, most have seen decreases. Only three coins have shown price increases, led by Toncoin (TON) with a 4% rise to $8.05. Solana (SOL) and XRP both saw marginal gains below 0.5%, trading at $147.73 and $0.48144 respectively. On the downside, Dogecoin (DOGE) recorded a 1.7% decrease to $0.12337, while Ethereum (ETH) fell just below 1%, currently trading at $3,444. Bitcoin (BTC) also experienced a minor decline of 0.3% to $62,681. BNB and Lido Staked Ether (STETH) showed losses below 1%.

The recent market movement comes amid news of positive flows into spot Bitcoin ETFs, which saw $129.45 million in daily net inflows on Monday, marking a significant uptick and the highest level since June 7th. Additionally, Solana's price rise was attributed to VanEck's filing for a spot Solana ETF.

In other significant developments, Aave has launched GHO, its native stablecoin, on the Arbitrum network through the Chainlink Cross-Chain Interoperability Protocol (CCIP). This move is part of Aave's strategy to expand GHO's accessibility and utility across different blockchain networks, aiming to enhance user experience and liquidity.

Meanwhile, WalletConnect has announced 'WalletGuide,' an initiative to highlight digital wallets adhering to high industry standards. Scheduled to go live in September, WalletGuide aims to provide a comprehensive directory of certified wallets, emphasizing security, features, and user experience.

Tezos has also unveiled its vision for Tezos X, focusing on a 'modu-lithic' experience that integrates modular and monolithic blockchain designs for scalability and interoperability.

As the crypto market continues to evolve, these developments underscore ongoing efforts to enhance infrastructure, expand usability, and drive innovation across the blockchain ecosystem.