The global digital asset market experienced slight downsides. While its total valuation recorded a 0.23% drop to $3.55 trillion, its transaction volume
The global digital asset market experienced slight downsides on Friday. While its total valuation recorded a 0.23% drop to $3.55 trillion, its transaction volume registered a 22.78% decline to $100.43 billion. As a result, the fear and greed indicator fell to 70, suggesting robust user confidence in the market.
Bitcoin’s price decreased by 1.03% to trade at $104,194.50, while its market dominance also fell to 58.16%. In the meantime, the altcoin market saw mixed performance with TRON and Ethereum emerging as the best performers. On the other hand, XRP, Solana, BNB, Dogecoin, and Cardano saw minor value decreases.
Major happenings and events in the digital asset market today include the following:
First, Ross Ulbricht, the creator of the Silk Road black marketplace, has allegedly lost $12 million when trying to trade a meme coin on Pump.fun. Ulbricht made a technical mistake that saw him lose massive amounts of funds. As part of this effort to sell ROSS tokens, a meme coin launched by his followers following his release from prison, he tried to add liquidity on the Raydium DEX platform. He, however, made a serious error when setting up a liquidity pool, which led to his tokens becoming instantly available for trading at the wrong place.
Kraken reintroduced cryptocurrency staking services for US customers in 39 states. Users can now access such staking services through Kraken Pro. In 2023, the trading platform halted its staking services after settling SEC’s charges and agreeing to pay $30 million. During that time, the regulator claimed that the exchange had provided US customers with unregistered tokens through its staking program.
Lastly, Venmo founder Sam Lessin launched the Jelly Jelly meme coin on Pump.fun. The meme coin’s rollout rapidly attracted investors’ interest and boosted its price to new heights. The meme coin gained massive attention after a crypto trader turned $1k into $1 million profit trading the token within one hour.
Among the top gainers today, we have Chainflip (FLIP), Cratos (CRTS), Luigi Coin (LUIGI/SOL), LOFI (LOFI), and Paw Chain (PAW).
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