Why is Crypto Down Today?
The global cryptocurrency market capitalization has decreased by 3.8% in the past 24 hours, now standing at $2.43 trillion, with a total crypto trading volume of $106 billion in the last day. Only three out of the top 100 coins are in the green today:
- Pyth Network (PYTH) is up 1.4% to $0.3562.
- TRON (TRX) has increased by 1.2% to $0.1356.
- Fasttoken (FTN) has risen by 0.4%, now trading at $2.34.
Among the red coins, Helium (HNT) and THORChain (RUNE) have seen the most significant declines, decreasing by 10.5% and 10.1% to $4.74 and $4.32, respectively. Other coins have experienced drops of around 9%, and all top 10 coins by market cap are down today. Ethereum (ETH) and Lido Staked Ether (STETH) saw the highest decreases of around 8.3% each, priced at $3,175. Bitcoin (BTC) dropped 3.1%, currently trading at $64,377.
Ethereum ETF Developments
Ethereum’s price experienced a significant downturn following substantial outflows from Grayscale’s Ethereum Trust. The outflows over the last two days amounted to 9% of the Trust’s initial holdings, contributing to a net outflow of $113.3 million from newly approved spot Ether ETFs in the US market. The BlackRock iShares Ethereum ETF wallet received $262.4 million in ETH from Coinbase Prime on Wednesday.
On the first day of trading, the nine spot Ethereum ETF products recorded a combined volume of $1.12 billion and total net inflows of $106.8 million, with BlackRock’s iShares Ethereum Trust ETF and Bitwise Ethereum Trust seeing $266.5 million and $204 million, respectively. However, the Grayscale Ethereum Trust saw outflows of $484.1 million.
OKX Launches Explorer for Polygon’s AggLayer Protocol
OKX has unveiled a blockchain analytics platform providing a unified view across Polygon’s interoperable AggLayer protocol and CDK (Chain Development Kit) chains. The OKX Explorer will be available for Polygon CDK chains, offering developers streamlined access to on-chain data and tools across all AggLayer-integrated chains. The platform aims to enhance transparency, provide a user-friendly interface, and allow users to track transactions and analyze network behavior.
Nym Technologies Expands Team with Top Talent
Nym Technologies, a decentralized privacy system, has announced three new hires to its core team in anticipation of the NymVPN release. Robinson Jardin, formerly of NordVPN, will serve as the new Head of Marketing. Dinko Ždravac joins as an in-house Rust engineer, bringing extensive experience in building scalable hosting solutions. Andrej Mihajlov, previously at Shiva VPN and Mullvad VPN, will be the Lead Desktop Engineer.
These hires aim to drive innovation and ensure Nym continues to deliver cutting-edge privacy technologies, positioning NymVPN as a trusted solution in cybersecurity.
Powered by Crypto Expert BD
Follow us on Twitter: https://x.com/CryptoExpert_BD
Join our Telegram channel: https://t.me/CryptoExpert_BD
