The crypto market cap is ranging between $3.6T–$3.8T, showing signs of a summer slowdown. Bitcoin is testing its 50-day moving average (~$114,570), signaling possible exhaustion. ETH is around $3,650, and XRP trades near $2.97.

Despite short-term trader retreat, institutional accumulation continues. SharpLink added 83,561 ETH, and major entities acquired 26,700 BTC in July. Corporates now hold over 6% of BTC supply.

Solana and Dogecoin saw ~3.5% gains. Volatility and volume remain low.

Ethena’s USDe became the third-largest stablecoin at $9.5B, boosting the total stablecoin market cap to $275B — the seventh straight month of growth, hinting at potential upcoming market activity.