The crypto market went through various updates today on July 8, with the majority of them catching investors off guard.
Here is a compilation on what happened in the crypto market in the past 24 hours.
On a major note, Coinbase and 65 crypto giants sent a letter to the House of Representatives to show support for the CLARITY Act to bring much-needed regulatory clarity to the U.S. crypto scene. This push could set the stage for smoother sailing in the industry.
In a courtroom twist, Coin Center’s lawsuit against the U.S. Treasury over Tornado Cash sanctions was tossed out by the Eleventh Circuit. Despite the loss, TORN pumped 14% to $10.55 before settling at $9.6 as per latest market data.
Institutional money keeps pouring in Bitcoin with Spot BTC ETFs raking in $216.64 million in net inflows, while Ethereum Spot ETFs snagged $62.11 million on July 7.
Amid decent market activity, Cronos stole the spotlight with surging over 20% in the past 24 hours, followed by FLOKI and ZEC’s 10% gains. Meanwhile Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP and other leading cryptocurrencies kept on trading within the daily range.
Elon Musk’s America Party threw its weight behind Bitcoin, giving the market a shot of hype. Although just a few mentions from Musk, the crux has set the crypto community abuzz with a variety of discussions.
Binance stirred the pot by adding monitoring tags to BAKE and IDEX, signalling tighter compliance checks. While Trump’s Truth Social filed with the SEC for a Crypto Blue Chip ETF, eyeing BTC, ETH, SOL, CRO, and XRP.
With tariff fears cooling and “Crypto Week” looming in Congress, the U.S. crypto scene is buzzing all along.
Also Read: ProShares XRP ETF Now Listed on DTCC
