Market Overview: Crypto Holds Steady Amid Rate Cut Speculations
Over the past 24 hours, the global cryptocurrency market capitalization has remained stable at $2.27 trillion, with trading volumes hovering around $72.1 billion. Among the top 100 cryptocurrencies, only six experienced declines today. Fasttoken (FTN) saw the most significant drop, falling 4.2% to $2.34, followed by BitTorrent (BTT) and Helium (HNT) with decreases of 3.7% and 1.1%, respectively.
In contrast, Bittensor (TAO) and Avalanche (AVAX) were the top performers, with TAO surging 12.5% to $337 and AVAX rising 12% to $26. CORE also saw a significant uptick, climbing 9.5% to $1.14.
Among the top 10 cryptocurrencies by market cap, XRP was the only one to decline slightly by 0.3%, currently trading at $0.59983. Bitcoin (BTC) remained mostly unchanged, trading at $61,278 with a 0.1% increase, while Ethereum (ETH) led the gains, rising 1.6% to $2,678.
The recent stability in the crypto market follows comments from U.S. Federal Reserve Chair Jerome Powell, hinting at a potential interest rate cut in September. Additionally, financial author Robert Kiyosaki suggested that BTC, along with gold and silver, could serve as a hedge against inflation and economic instability as the U.S. national debt continues to rise by a trillion dollars every 100 days.
AMINA Bank Introduces Zero-Fee Web3 Startup Package
In today’s crypto news, AMINA Bank, a digital assets bank regulated by FINMA, has launched a new banking package tailored for Web3 startups and scale-ups. This package aims to provide growth-stage projects with a comprehensive suite of financial tools and services while eliminating many traditional barriers to entry.
The Startup Package includes access to AMINA Bank’s products such as current accounts with no monthly fees in CHF and EUR (with USD and HKD to be added soon), payment services in various global currencies, notice and fixed-term deposit accounts, and services like crypto custody, staking, and spot trading.
The package is available to companies that have been in operation for less than five years or have under CHF 10 million in funding. The offering, which already has a waiting list, is now live, and interested companies are encouraged to register via the bank’s website.
TON Society Launches to Drive Decentralization of The Open Network (TON)
Former directors of TON Foundation have announced the launch of TON Society, a new independent entity focused on further decentralizing The Open Network (TON). This organization, spun off from TON Foundation, will manage all TON events and official community channels. It will also focus on three primary goals: creating TON activists, expanding awareness of the TON ecosystem, and democratizing community assets.
The TON Society plans to make TON’s rapidly growing public channels—audience numbers have surged from 200,000 to over 12 million subscribers since last August—a resource accessible to the entire community. The society also aims to introduce a TON Society ID system, which will establish an on-chain reputation for members and facilitate reputation-based governance within the TON ecosystem.
Conduit Launches Rollup Marketplace with 48 Partners
In other news, crypto infrastructure startup Conduit has unveiled Conduit Marketplace, a new platform designed to help rollup teams find, buy, and deploy integrations for their blockchains directly from the Conduit app. The marketplace currently features 48 partners, including notable names like Agora, Dune, OpenZeppelin, Stack, and Wormhole, with more expected to join.
Conduit Marketplace simplifies the process for rollup teams by bringing together tools from various providers and allowing them to be integrated with a single click. This platform can save rollup teams 3-6 months in development time, and it also provides integration partners with immediate access to prominent crypto projects. Conduit raised $37 million in a Series A funding round led by Paradigm and Haun Ventures earlier this year.
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