#WTCMarket Performance and Trends:

Bitcoin (BTC) has been trading firmly above $106,000, recovering from recent dips. Some analysts suggest it could aim for $110,000 soon, while others see consolidation around current levels. The price has been influenced by easing geopolitical tensions and dovish comments from the US Fed regarding recession and rate cuts.

Ethereum (ETH) and Ripple (XRP) have also seen rallies, approaching key resistance levels that could signal further upside.

The overall crypto market capitalization is around $3.27 trillion, showing signs of growth and stability. Bitcoin's market dominance is about 66.68%.

The "Fear & Greed Index" for crypto has climbed to around 70, indicating a bold market mood.

DeFi (Decentralized Finance) sector is experiencing a resurgence, with tokens like Aave (AAVE) and Uniswap (UNI) seeing significant gains.

Real-World Asset (RWA) tokenization is gaining traction, with $24 billion already tokenized, as major financial institutions show increasing interest.

2. Major Developments & Institutional Adoption:

Hacking Incident: Hackers with possible links to Israel reportedly drained over $90 million from Nobitex, Iran's largest cryptocurrency exchange. The attack appears politically motivated.

Stablecoin Legislation (GENIUS Act): The U.S. Senate passed the "Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act," which aims to create a comprehensive federal regulatory framework for stablecoins. This bill seeks to define crypto as a commodity or security and allocate regulatory authority, largely removing payment stablecoins from the purview of the SEC and CFTC. Hong Kong also plans to implement its Stablecoin Ordinance in August.

Institutional Interest:

Circle's IPO on NYSE raised $1.1 billion, with the stock soaring 168% on day one, signaling strong institutional appetite.

Robinhood acquired Bitstamp for $200 million, expanding its reach in the crypto space.

BlackRock's $2.9 billion tokenized money market fund (BUIDL) is now accepted as collateral by major crypto exchanges like Crypto.com and Derib