📉 Market Overview

🔹 Global Trends

The total crypto market dropped roughly 3.8% today, with U.S. tariff announcements sparking broad profit-taking and liquidations.

Bitcoin slipped below $115,200, extending its decline amid macro headwinds and investor caution.

Other altcoins, including Ethereum, Solana, and Dogecoin, also fell up to 8%, signaling market-wide weakness.

🔹 Exchange & Platform Activity

Robinhood reported a 98% year-over-year jump in crypto revenue to ~$160M on a 32% rise in trading volume ($28B), though crypto revenue slightly missed analyst expectations.

Coinbase, meanwhile, saw trading-related earnings fall. Its Q2 net income dropped to $33.2M, down from $294M a year earlier, as volatility-driven trading slowed. However, stablecoin revenue rose to $332.5M, up notably year-over-year.

The GENIUS Act — new U.S. stablecoin legislation — is viewed as a key catalyst supporting institutional interest and revenue opportunities.

🔥 Spotlight: Ethereum vs Bitcoin

While Bitcoin rose only ~10% over the past month, Ethereum surged ~54%, outpacing BTC thanks to multiple tailwinds:

Institutional inflows via newly launched spot ETH ETFs (BlackRock, Fidelity, Grayscale) have seen cumulative volumes near $123.5B.

The GENIUS Act has sparked speculation that stablecoin growth on the Ethereum network will accelerate, boosting ETH demand.

Corporate treasury buys are also adding upward momentum. Entities like Bitmine Immersion and The Ether Machine have expanded their ETH holdings significantly.

Nonetheless, caution remains—some analysts warn the rally may fade once regulatory clarity evolves.

---

📊 Stats Summary

Metric Value

Market cap change –3.8%

Bitcoin price Below $115,200

Ethereum price Around $3,666

Major altcoin losses Up to ~8%

Robinhood crypto volume ~$28B (up 32%)

Coinbase stablecoin revenue $332M (up ~9.5%)

Institutional ETH ETF inflows ~$123.5B cumulative