Ether Surges Above $2,700 as XRP Price Remains Unchanged
Ether (ETH) gained slightly, surpassing $2,700 as the crypto market remained stable amidst various macro and corporate developments.
- Ether-based spot ETFs saw net inflows, indicating continued institutional interest.
- XRP's price was stable following VivoPower's announcement of a $121 million investment in an XRP-based treasury reserve.
- Bitcoin (BTC) fell below $108,000 after the Fed decided to maintain interest rates, while U.S. stocks increased due to a federal court decision against Trump's tariffs.
- Market capitalization decreased by 2.5%, with major tokens like Cardano (ADA), BNB Chain (BNB), Dogecoin (DOGE), and Solana (SOL) showing little change.
- Toncoin (TON) dropped after a previous surge related to partnership discussions with Elon Musk’s xAI, though Musk stated that no formal deal was signed.
Market Analysis
Traders describe current conditions as a "Goldilocks zone," where stability prevails and major risks have been mitigated.
- Volatility across asset classes has diminished due to declining yields on long-dated bonds in the U.S. and Japan.
- 10- and 30-year Treasury yields fell below 4.5% and 5%, respectively, while Japan's 30-year JGB yield dropped under 3%.
- The impact of recent tariff policies is not yet reflected in economic data, with significant adjustments expected in Q3.