Bitcoin is trading at $108,926.58 today, marking a marginal 0.01% gain over the past 24 hours. The price action signals a phase of sideways consolidation, with the asset maintaining a market cap of $2.16 trillion and a 24-hour trading volume of $54.30 billion. The current circulating supply stands at 19.87 million BTC.

Over the past year, Bitcoin has surged an impressive 56.9%, underlining its growing strength as a long-term asset. Lennix Lai, Global Chief Commercial Officer at OKX, attributes the sustained rally to “increased institutional adoption and Bitcoin’s maturation as a credible asset.”

Analysts are closely watching the $106,000 level, which is now seen as a key support zone. Bullish sentiment remains intact as traders await new macroeconomic signals or a fresh wave of institutional capital to drive the next major move.

The price of Ethereum (ETH) rises 3.38% to surpass $2,645

Ethereum is trading at $2,645.46 today, posting a solid 3.38% gain over the past 24 hours. The second-largest cryptocurrency now holds a market cap of $319.62 billion, with daily trading volume reaching $26.27 billion. Its circulating supply stands at 120.72 million ETH.

Momentum picked up in early Asian trading hours as Ethereum broke past the $2,600 mark, driven by $248 million in net inflows into spot Ethereum ETFs last week—most notably led by BlackRock’s iShares Ethereum Trust. This signals growing institutional interest and supports the case for a continued bull run.

On the decentralized finance (DeFi) front, total value locked (TVL) in Ethereum-based protocols rose by 3.59% over the past day, reaching $64.37 billion, according to DeFi Llama. However, despite the price rally and DeFi growth, user activity remains relatively stagnant, with active addresses hovering around 406,180—little changed from last year’s 430,000.

Altcoins Track Bitcoin’s Rally, Cardano the Only Outlier

Most top-10 altcoins followed Bitcoin’s upward momentum today, posting modest gains across the board. Here’s a closer look at how leading altcoins are performing:

• XRP is trading at $2.30, up 0.61% in the last 24 hours. With a market cap of $135.34 billion and daily volume of $2.11 billion, XRP continues to show resilience despite bearish technical indicators. Investor optimism is being fueled by the SEC’s ongoing review of the WisdomTree XRP Fund ETF, which, if approved, could boost accessibility through traditional brokerage platforms.

• BNB stands at $682.49, rising 1.19%. The token boasts a $96.15 billion market cap and $2.03 billion in trading volume, supported by momentum from new product launches within the Binance ecosystem.

• Solana is up 0.89%, currently priced at $174.62. It holds a $90.87 billion market cap and $3.63 billion in daily trading volume, with 520.4 million SOL in circulation.

• TRON (TRX) has edged up 0.37%, trading at $0.2765. Its market cap sits at $26.24 billion, with $604.28 million in volume.

• Cardano (ADA) is the only major altcoin in negative territory today, down 0.15% to $0.7528. It maintains a market cap of $26.60 billion and $689.42 million in trading volume. Despite near-term pressure, developers remain optimistic about long-term growth, with key upgrades like the Hydra protocol on the horizon.

Dogecoin (DOGE): Small Gains, Big Buzz
Dogecoin is trading at $0.2240, up 0.24% over the past 24 hours. With a market cap of $33.48 billion and daily trading volume of $1.36 billion, DOGE continues to benefit from renewed social media buzz and celebrity endorsements. However, despite the meme revival, retail interest remains moderate, and trading volumes have yet to fully recover.

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🪙 Stablecoins: Anchored Amid Market Shifts
Stablecoins continue to offer consistency in a volatile market.

• Tether (USDT) holds its peg at $1.00, with a 0.02% uptick, a $152.97 billion market cap, and $84.96 billion in trading volume.

• USDC trades at $0.9997, with a $61.37 billion market cap and $11.84 billion in volume.

While growth for traditional stablecoins remains flat, newer players like Ethena’s USDe and Bitget’s BGUSD are gaining traction, signaling shifting user preferences in DeFi. BGUSD, launched May 27, is pegged 1:1 to USDC and offers a promotional 5% APY for the first 30 days. Bitget CEO Gracy Chen emphasized its dual appeal—offering both yield and stability.

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 Global Developments: Crypto Meets Real-World Use Cases
Thailand Embraces Crypto for Tourism:
Thailand is evaluating crypto-linked credit card platforms to boost its tourism economy. Finance Minister Pichai Chunhavajira highlighted the goal of making the country more crypto-friendly. The initiative is currently under review by the Ministry of Finance and the Bank of Thailand.

Crypto Wealth Redefines Luxury:
Bitcoin is gaining recognition as a store of generational wealth, surpassing luxury goods in some sectors. According to Watches.io’s Jake Plonskier, “Men under 30 can now afford Pateks and APs thanks to crypto wealth.” Interestingly, while crypto prices soared, luxury watches saw a 4% decline, suggesting a divergence in trends.

USDC Issuer Circle Files for IPO:
Circle, the issuer of USDC, has filed for an IPO on the NYSE under the ticker ‘CRCL’. The offering could raise up to $625 million, underscoring investor confidence in stablecoin-based financial models.

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Market Outlook: Optimism Tempered by Caution
Today’s market reflects a cautiously optimistic sentiment. Bitcoin holds steady above $108,000, and Ethereum has broken through $2,600. Altcoins like BNB, TRON, and Solana are seeing modest gains, while stablecoins remain firm.

However, with retail engagement still subdued and active address growth flat, traders are keeping an eye on macroeconomic signals and institutional inflows to guide the next phase of the bull cycle.