Cryptocurrency Prices Today: Ethereum Rises More Than 6% Amid Market Dynamics

Cryptocurrency markets are experiencing a strong upswing today, reflecting renewed investor optimism despite recent security incidents. The global crypto market capitalization has surged by 2.92%, reaching $3.46 trillion at the time of writing. Bitcoin is pushing past previous records, trading above the $111,000 mark, while major altcoins are also showing impressive gains, led by Ethereum’s 6% rally. This upward momentum is supported by a mix of technological innovation, clearer regulatory signals, and increasing institutional involvement.

Table of Contents

Top Cryptocurrencies Performance Snapshot

Bitcoin Climbs Amid Institutional Buying

Current Price: $111,207.04
24-Hour Gain: 2.48%
Market Cap: $2.21 trillion
Trading Volume: $60.46 billion

Bitcoin continues its rally, driven by rising demand and significant ETF inflows. Delta Exchange CEO Pankaj Balani noted, “Bitcoin briefly crossed $112,000, climbing nearly 14% from its June 22 low of $98,000. The breakout pattern is strong and impulsive. If BTC holds above $109,000, the uptrend should extend towards $113,500–$115,000.”

Over $1 billion has flowed into U.S. spot Bitcoin ETFs since late June, with BlackRock’s IBIT now holding over 700,000 BTC, or 3.33% of Bitcoin’s total supply. Institutional adoption is also accelerating, as companies like Bitcoin Treasury Capital raise capital to expand their BTC reserves—mirroring MicroStrategy’s long-standing strategy.

Ethereum Leads Altcoin Rally

Current Price: $2,779.02
24-Hour Gain: 6.90%
Market Cap: $335.47 billion
Trading Volume: $28.96 billion

Ethereum is leading the altcoin surge, reflecting growing confidence in the DeFi ecosystem. However, uncertainty remains as the SEC delays its decision on BlackRock’s spot Ethereum ETF, particularly regarding the physical redemption mechanism. Despite this, investor enthusiasm remains strong.

XRP & Solana Show Strong Gains

XRP Price: $2.42 (+5.26%)
Market Cap: $143.46 billion
Solana Price: $157.58 (+4.32%)
Market Cap: $84.42 billion

XRP and Solana are riding the wave of market optimism, fueled by ongoing speculation about upcoming ETF approvals and broader altcoin momentum.

Other Major Altcoins:

BNB: $672.55 (+1.60%), Market Cap: $94.75B
Cardano (ADA): $0.6223 (+6.07%), Market Cap: $22.02B
TRON (TRX): $0.2918 (+1.43%), Market Cap: $27.66B
Dogecoin (DOGE): $0.1807 (+5.79%), Market Cap: $27.12B

Stablecoins Stay Pegged Amid Market Volatility

Tether (USDT) and USD Coin (USDC) have maintained their peg to the U.S. dollar, continuing to trade at $1. Their 24-hour trading volumes are $94.26 billion and $11.71 billion, respectively.

Ripple CEO Brad Garlinghouse recently projected the stablecoin market could grow from its current $250 billion to $1–2 trillion, particularly with the potential passage of the GENIUS Act, which could make stablecoins legal tender in the U.S.

Key News Driving Market Momentum

GMX Exploited for $40 Million; Trading Halted

DeFi platform GMX has paused GLP token minting and redemption on Arbitrum and Avalanche after a $40 million exploit. The attack exploited a design flaw that allowed price manipulation of the GLP token.

Bybit Confirms Pump.fun Token Sale, Excludes EU Users

Bybit has announced the public sale of PUMP, the token of the memecoin launchpad Pump.fun. The sale will offer 150 billion tokens at $0.004 USDT each. However, EU-based users on Bybit.eu are excluded due to compliance with the MiCA regulations.

Federal Reserve Weighs Interest Rate Policy Amid Tariff Concerns

According to journalist Nick Timiraos, Fed officials are debating whether recent cost increases justify maintaining high interest rates. A rate cut is unlikely in July, but Chairman Jerome Powell suggested that improved inflation data or a weaker job market may lead to cuts later this summer.

US House Announces ‘Cryptocurrency Week’

Beginning July 14, 2025, the U.S. House of Representatives will hold a “Cryptocurrency Week” focused on crypto regulation and tax policies. The Ways and Means Committee will host a key hearing on July 16, following up on Senator Cynthia Lummis’s bill that proposes tax exemptions for micro-transactions and eliminates double taxation.

Conclusion

The crypto market is showing strong bullish momentum, with Bitcoin and Ethereum leading the charge. While incidents like the GMX exploit highlight ongoing DeFi risks, investor confidence remains high, buoyed by institutional adoption and growing regulatory engagement.

As the U.S. prepares for a pivotal week of crypto-related discussions, the market could benefit from increased clarity and long-term investor confidence. Market participants are advised to keep an eye on regulatory developments and macroeconomic signals that could shape the next phase of crypto growth.

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