Crypto Market Holds Steady Amid Hacks, Fundraising, and Bullish Trends

• Total Market Cap remained stable at $2.54T.
• Ethereum (ETH) price decreased from $3765 to $3692.
• Bitcoin (BTC) price increased from $68346 to $69474.
• Significant hacks included a $22 million loss for Project Gala and a $2 million exploit on Solana’s Pump.fun.
• ETF inflows totaled $525 million, with the largest inflow of $125 million into the IBIT ETF.
• Exchanges saw a net outflow of $293.67 million, with Binance recording the highest inflow of $128.93 million.
• Fundraising reached $1.08 billion across 169 rounds, with Polymarket raising $74 million.
• Layer 2 networks saw an increase in TVL from $10.06 billion to $10.49 billion, led by Arbitrum.
• Regulatory and legal developments included Matter Labs dropping ZK trademark applications and the US Navy launching blockchain security tech.
• Market and investment news highlighted Bitcoin Runes’ potential growth and Babylon’s $70 million raise for Bitcoin staking on PoS networks.
• Security incidents included a $10 million hack on Velocore DEX and a bank manager stealing $208,939 from a customer.
• Cryptocurrency trends showed bullish sentiment for Bitcoin and the potential impact of Ethereum ETFs on SEC’s stance.
• Tech and innovation updates included Google and Magic Leap’s partnership for metaverse goggles and Vitalik Buterin’s donation to Tornado Cash developers’ legal fund.

The cryptocurrency market remained relatively stable this week, with the total market cap holding steady at $2.54 trillion. Ethereum saw a slight price drop, while Bitcoin experienced a modest increase. The market was marked by significant security incidents, including a $22 million hack on Project Gala and a $2 million exploit on Solana’s Pump.fun. ETF inflows were strong, totaling $525 million, and exchanges experienced notable net outflows. Fundraising efforts were robust, with $1.08 billion raised across various projects. Layer 2 networks continued to grow, and regulatory developments included the US Navy’s blockchain security tech launch. Market trends remained bullish for Bitcoin, and tech innovations saw new partnerships and support for legal battles in the crypto space.