Overview:
The global crypto market continues to run on the bull side, with a total market cap of $3.23 trillion, having surged 1.27% over the last 24 hours. Although trading volume dropped 9.96% to $95.55 billion, investor sentiment remains strong, driven by growing DeFi interest, which accounts for $7.48 billion or 7.83% of total volume.
Bitcoin vs Gold: The Safe Haven Debate
Gold has risen to an all-time high of $2,940 per ounce, while Bitcoin struggles to reach $100K.
🔹 Old pro trader Peter Brandt points out that capital is flowing out of Bitcoin and into gold.
🔹 Economist Peter Schiff reports that Bitcoin’s dominance over gold is decreasing. BTC’s market cap is now 9.95% of gold’s, down from 10.72% in 2021.
Grayscale Files for Cardano ETF: Game-Changer for ADA
🔹 Grayscale Investments has submitted the first-ever Spot Cardano ETF to NYSE Arca, providing institutional investors with another option beyond just BTC & ETH.
🔹 Cardano (ADA) price jumped 13.92% after the news was released, trading at $0.7998.
🔹 This is expected to have a huge market impact and elevate ADA’s stature among institutions.
Nano Sees Double-Digit Growth
🔹 Nano’s XNO coin jumped 11.13% today, driven by its reputation for free and instant transactions that consume less energy.
⚡ With the growing demand for speedy digital payments, speculation suggests that Nano could challenge Bitcoin’s dominance in transaction efficiency.
North Carolina Proposes Bitcoin Investment Plan
📜 NC Digital Assets Investments Act (HB 92) introduces legislation allowing up to 10% of some public funds (pensions, veterans’ funds) to be invested in Bitcoin ETPs.
💰 Only BTC meets the eligibility criteria, having a $750B market cap, marking a significant step toward state-backed crypto investments.
SEC & Binance: Freezing the Battle in Court
⚖️ The parties have requested a 60-day suspension of the action, citing influence from the new SEC Crypto Task Force.
⏸️ Suspended by Acting SEC Chair Mark Uyeda, this decision could impact other major crypto cases involving Ripple, Coinbase, and more, potentially setting legal precedents for future regulation.
Conclusion
With Cardano’s ETF filing, Bitcoin’s ongoing battle with gold, Nano’s surge, and regulatory shifts, the crypto market remains highly dynamic. While Bitcoin struggles, new developments in ETFs, legislation, and digital payment solutions continue to reshape the industry. 🚀
Also Check:
- Why Crypto Market Up Today? Cardano ETF News Sparks Price Rally
- Ripple News Today – XRP Hits New Heights, Overcoming Controversies and Market Growth
- North Carolina Proposes Bill to Invest State Funds in Bitcoin ETPs
- Brazil’s B3 Stock Exchange Expands with Ethereum & Solana Futures
- XNO Price Surge and Forecast: Can Nano Coin Beat Bitcoin?
- Altcoin ETF Race: Which Crypto ETF Will Debut First?
- Robert Kiyosaki’s 2025 Market Crash Warning: Is This the Right Time to Invest?