1. Market Overview
Yesterday, the total cryptocurrency market cap climbed to approximately $3.26 trillion, driven by renewed buying interest in select tokens. Bitcoin traded near $105,410, marking a 3.84% uptick on the day, while emerging layer-1 and DeFi projects such as SEI and HiFi posted double-digit gains amid broader market strength.
2. Crypto Market Sentiment
Investor sentiment shifted toward cautious optimism as institutional flows picked up and regulatory clarity advanced.
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ETF Dynamics: BlackRock’s IBIT ETF closed at $60.06, just shy of its all-time high, and Ethereum-focused ETHA jumped 5.13%, underscoring persistent demand from large players.
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Equity Correlation: Crypto-related equities rallied strongly—Coinbase surged 12.1%, Marathon Digital up 4.9%, and MicroStrategy climbed 2.7%—reflecting growing confidence in digital-asset infrastructure.
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Mainstream Signals: Mastercard announced plans to pilot a dollar-pegged stablecoin on its network, and the U.S. Senate advanced landmark stablecoin legislation, both of which reinforced the narrative of crypto’s integration into traditional finance.
3. Key Developments
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BlackRock’s IBIT ETF Nears Record High: Despite a broader market consolidation, IBIT continues to attract fresh capital, trading within 1% of its peak, signaling resilient institutional appetite for Bitcoin exposure.
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Chainlink–Mastercard Partnership Spurs LINK Rally: Chainlink’s native token surged 13% after news of a strategic integration with Mastercard’s payment network, promising enhanced oracle solutions for enterprise clients and driving renewed altcoin interest.
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JPMorgan Pilots USD Deposit Token “JPMD” on Base: J.P. Morgan launched a pilot of its permissioned USD deposit token, JPMD, on Coinbase’s Base Layer 2 network—marking one of the first bank-issued digital deposits on a public blockchain and underscoring the growing intersection of legacy finance and crypto rails.
- Bipartisan Stablecoin Bill Clears Senate Committee: Lawmakers passed the GENIUS Act framework in the Senate Banking Committee, laying the groundwork for comprehensive U.S. regulation of dollar-pegged tokens—an important step toward mainstream compliance and reserve-backed issuance.
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Crypto Stocks Outperform on Institutional Optimism: Shares of key public players—Coinbase, Marathon Digital, and MicroStrategy—posted gains of 12.1%, 4.9%, and 2.7%, respectively, as investors bet on sustained enterprise adoption and regulatory progress.
