Binance Market Update: Crypto Market Trends | July 8, 2025
The global cryptocurrency market cap now stands at $3.36T, up by 0.09% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $107,430 and $108,919 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $108,388, down by 0.43%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include FIS, MDT, and REI, up by 83%, 33%, and 14%, respectively.Top stories of the day:U.S. President Trump Announces 25% Tariff on Japan and South KoreaCrypto Firms Urge U.S. Lawmakers to Pass CLARITY ActRipple CEO to Testify at U.S. Senate Hearing on Digital Asset MarketsU.S. House Committee Postpones Digital Asset Tax Policy HearingU.S. Imposes New Tariffs on Malaysia, Kazakhstan, and South AfricaSEC Urges Quick Resubmission of Solana ETF ApplicationsSemler Scientific Acquires Additional Bitcoin HoldingsBitcoin Market Anticipates Structural Bullish Trend in Third QuarterDigital Asset Fund Inflows Hit $1B, Ethereum Outperforms as Total AuM Surges to Record $188BBitcoin Whales Accumulate Aggressively as Price Nears All-Time HighMarket movers:ETH: $2549.88 (-1.10%)XRP: $2.2838 (+0.44%)BNB: $661.12 (-0.24%)SOL: $150.43 (-1.20%)DOGE: $0.16867 (-1.79%)TRX: $0.2869 (+0.10%)ADA: $0.5801 (-1.16%)WBTC: $108338.14 (-0.44%)BCH: $498.5 (+0.65%)SUI: $2.8803 (-0.94%)
BlackRock's iShares Bitcoin Trust (IBIT) now holds 700,000 BTC — in just 18 months! 💥 According to Glassnode, its AUM (Assets Under Management) has now exceeded $76 billion, surpassing both the iShares Core S&P 500 ETF (IVV) and the iShares Russell 2000 ETF (IWM).
ETF Store President Nate Geraci wrote on X: "700,000 BTC in 18 months. Ridiculous!"
In January 2024, U.S. spot bitcoin ETFs were launched. They have already secured a place as the most successful launch in ETF history — over $50B in net inflows.
📊 IBIT is now the third highest revenue generator among all of BlackRock's ETFs! #BlackRock #BitcoinETF #IBIT #BTC #CryptoNews #BitcoinUpdate #ETFNews #MicroStrategy #Fidelity #Grayscale #CryptoMarket #CryptoInvesting
XRP Futures Signal Bullish Momentum Amid Rising Open Interest
Futures tied to XRP are showing strong bullish signals as the payments-focused cryptocurrency attempts to build upward momentum.
On Monday, cumulative open interest in XRP perpetual futures across major exchanges briefly rose to 800 million XRP, the highest level since January 19, according to data from Velo. The metric, now at 743 million XRP, is still 33% higher than on June 22, when XRP reached a local bottom at $1.90.
This surge in open interest suggests growing participation in the futures market. Funding rates have remained consistently positive, at times exceeding 10% annualized, which typically reflects increased demand for long positions.
In the Binance XRP/USDT market, the top trader long/short ratio stands at 1.90, meaning there are nearly two long positions for every short, reinforcing the bullish outlook.
Meanwhile, XRP’s spot price has seen limited volatility. After hitting $2.35 on Monday — a level not seen since late May — it quickly pulled back to around $2.25, where it continues to consolidate.
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🚨 BREAKING NEWS: bonk Becomes Solana’s Top Memecoin bonk has officially overtaken $TRUMP to become the leading memecoin on the Solana blockchain by market capitalization. This shift comes after a significant surge in activity and user engagement within the Solana ecosystem.
Solana sources confirm that $BONK ’s market cap has reached $1.76 billion, pushing it ahead of $TRUMP, which now holds the third position at $1.70 billion. $VET currently shares the second spot with an equal $1.76 billion cap.
The momentum behind bonk was fueled by increased consumer activity, a spike in 24-hour bonded coins, and growing community participation. This surge helped close the gap in 24-hour volume between bonk and $TRUMP, solidifying its lead.
This development marks a notable moment for memecoins on Solana, as $BONK continues to gain traction through ecosystem integrations and a strong, active community $BONK $BTC
Elon Musk Launches America Party Meme Coin AP Surges 120%
Elon Musk has officially announced the formation of the America Party, a new political movement aimed at challenging what he called a “one-party system” driven by fiscal waste and corruption. The move comes after Musk's harsh criticism of former President Donald Trump’s recently signed $3.3 trillion Big Beautiful Bill, which Musk labeled “insane” and “destructive.” Just hours after the announcement, a meme coin named America Coin (AP) — created on Pump.Fun — soared by over 120%, reaching a market cap of more than $18 million. Trading volumes spiked as speculators rushed in, betting on Musk’s influence and the viral nature of his political entry. While Musk has not directly endorsed the coin, traders interpreted the timing as symbolic — much like Dogecoin’s historic rise during Musk’s 2021 social media frenzy. Many in the crypto space are now dubbing AP the “Dogecoin of US Politics.” The coin’s rapid growth underscores a growing trend of politically driven meme coins, where real-world events fuel speculative surges. However, users are strongly cautioned to beware of potential pump-and-dump schemes surrounding this viral coin and its sudden popularity. 📍 #ElonMusk #AmericaParty #APCoin #MemeCoin #CryptoNews #BinanceSquare
Trump says Musk ‘off the rails’ for forming political party to rival GOP US President Donald Trump has blasted Elon Musk’s plan to start a new political party that could splinter the Republican vote in the 2026 midterm elections. #MuskAmericaParty #TrumpTariffs #TrumpVsMusk
USDT: I will definitely grow... Buyer: Brother, can you take a little less, I’m getting emotional 😭 Seller: Brother, if it goes below 126, my heart shakes 😤 Rubel: I will buy at 121, where did that seller go? 🤡