Market Overview
The cryptocurrency market experienced a broad decline today, with altcoins following Bitcoin's downward trend. ORDI, in particular, saw a significant drop of over 24% within 24 hours.
Key Developments
Institutional Movements
- A whale/institution transferred 81,182 ETH (worth ~$198M) to centralized exchanges over 3 weeks at an average price of $2,443
- REX-Osprey SOL spot ETF reported $11.4M net inflows yesterday with $34.9M trading volume
Regulatory Updates
- FTX announced a 5% claim restriction for 49 jurisdictions, affecting 82% of Chinese user funds
- Minna Bank (Japan's first digital-only bank) is piloting stablecoin and wallet use cases with Fireblocks and Solana Japan
ETF Performance
- U.S. spot Ethereum ETFs saw $148.21M in net inflows yesterday
- Meta Platforms proposed acquiring a minority stake in venture firm NFDG (founded by new AI head Nat Friedman)
Market Analysis
Ethereum continues to dominate key sectors:
- 80%+ of real-world asset (RWA) market
- 50% of stablecoin market
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FAQs
Why did ORDI drop so significantly?
ORDI's 24% decline reflects broader market sentiment and potential profit-taking after recent gains. The altcoin market often shows higher volatility than Bitcoin during downturns.
What does the ETH transfer to exchanges indicate?
The movement of 81,000+ ETH to exchanges suggests institutional investors may be preparing to sell, potentially creating downward price pressure.
Are Chinese users eligible for FTX claims?
FTX is seeking legal clarification regarding claim distributions to restricted jurisdictions. Currently, Chinese users face an 82% impact from the 5% restriction policy.
Industry Updates
- China's Minmetals Corporation warned against fraudulent operations using its name for crypto investment schemes
- Stablecoin adoption continues growing in Japan through banking partnerships
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All data current as of July 2025. Market conditions may change rapidly.