Crypto market is red today
Nike Faces $5M Lawsuit Over Alleged NFT Rug Pull
Crypto Funds See $3.4B Inflows Bitget and Avalanche Partner to Drive Web3 Adoption in IndiaThe crypto market is in the red today, with the global market capitalization holding at $3.1 trillion, a slight 0.2% dip in the last 24 hours.At the time of writing, daily trading volume stands at $81.4 billion, reflecting a moderate decline from the previous day.Among the top 10 cryptocurrencies, most are trading in the green.Bitcoin (BTC is up 1.4% over the past 24 hours, currently priced at $95,360, marking a 9.2% gain over the week.
Ethereum (ETH) follows with a 0.7% daily increase, trading at $1,821.62, and showing an impressive 11.4% rise over the past seven days.Meanwhile, Dogecoin (DOGE) leads the top performers in this category, climbing 12.5% over the week to trade at $0.1821.On the downside, Solana (SOL) and XRP saw minor pullbacks, with SOL down 0.5% and XRP slipping 0.4% in the past day, though both remain positive on the weekly chart.
Notably, Sui (SUI) emerged as a standout performer, soaring 68.7% over the past seven days to trade at $3.84, reflecting growing investor interest.
In the trending category, privacy coin Monero (XMR) surged 17.4%, fueled by recent market events, while Casper Network (CSPR) topped the gainers list with a 56% jump.Nike Faces $5M Lawsuit Over Alleged NFT Rug Pull
Nike is being sued for $5 million in a class action lawsuit after investors accused the company of orchestrating a rug pull by shutting down its NFT subsidiary, RTFKT, in January.
The plaintiffs claim Nike promoted unregistered securities through its branded NFTs, which were intended for trading on secondary markets.Nike was sued for $5M USD because of the RTFKT rug.This video will be presented by the plaintiffs as evidence in court: — wale.moca 🐳 (@waleswoosh)
Following RTFKT’s closure, the value of the Nike-themed NFTs collapsed, with investors stating they would not have purchased the tokens had they known about the regulatory risks or the impending shutdown.
RTFKT, acquired by Nike in 2021, announced its wind-down in late 2023.Crypto Funds See $3.4B Inflows
Global crypto investment products managed by firms like BlackRock, Fidelity, and Grayscale saw a surge of $3.4 billion in net inflows last week, marking the third-largest inflow on record, according to .Analysts attribute the spike to investor concerns over U.S. tariff impacts and a weakening dollar, positioning digital assets as a growing safe-haven alternative.Third largest weekly digital asset inflows on record of US$3.4bn as investors seek safe havens from the plummeting USD — James Butterfill (@jbutterfill)The strong inflows coincided with Bitcoin climbing over 8% toward the $95,000 mark, while broader crypto markets rallied, pushing total assets under management in these funds to $132 billion, a level last seen in February.
Bitcoin-focused products dominated the inflows, attracting $3.2 billion globally, with U.S. spot Bitcoin ETFs contributing over $3 billion—the highest in five months.Bitget and Avalanche Partner to Drive Web3 Adoption in India
Crypto exchange Bitget and blockchain platform Avalanche have announced a strategic partnership to promote grassroots Web3 adoption in India.
The collaboration focuses on educational initiatives, community programs, and financial support, aiming to boost awareness and development of blockchain technology across the country, according to a.
Both companies are investing heavily in India’s growing Web3 ecosystem.
