Global Crypto Market Cap Dips 0.7% as Bitcoin and Ethereum Slip
The global cryptocurrency market cap fell 0.7% to $2.98 trillion over the past 24 hours. The drop was largely driven by a slight decrease in the price of Bitcoin, which traded at $84,681.83, down 0.6% on the day and up 0.8% over the past week. Ethereum also saw a marginal decline, trading at $2,681.55, down 1.4% in 24 hours though up 0.3% over seven days.
Regulatory and security developments, however, were positive. The US Securities and Exchange Commission (SEC) approved 3x leveraged exchange-traded products (ETPs) on Bitcoin, Ethereum, gold, silver, and oil. Additionally, a hacker who breached the NEAR Intents platform returned the full $3.8 million stolen after a 48-hour deadline, boosting confidence in cryptocurrency adoption and product expansion.