The crypto market saw sharp divergences in the past 24 hours. Audiera's BEAT token surged 52.05% to $7.21, with $264 million in trading volume. Hamster Kombat (HMSTR) followed closely, jumping 48.57% to $0.0002606 on $95.86 million volume. These two led the gainers list, signaling persistent speculative appetite despite extreme fear.
Market Overview: BTC Edges Up, ETH Slips, Volume Contracts
Global crypto market cap held at $2.2 trillion while 24-hour trading volume dropped to $77.6 billion from $91.23 billion the prior day. Bitcoin (BTC) traded at $62,113.77, up 0.57%, with a $1.24 trillion cap and 56.2% dominance. Ethereum (ETH) slipped 0.5% to $1,639.22, market cap $197.8 billion. Stablecoin market cap reached $310.8 billion with $63.78 billion in volume. DeFi capitalization fell 1.8% to $59.8 billion, representing 2.7% of the total market.
Fear & Greed at 12: Extreme Fear Persists
Alternative.me's index recovered marginally from yesterday's 9 to 12 (Extreme Fear), still near rock-bottom. Last month the index stood at 49 (Neutral). Compared to June 10, BTC has recovered slightly from $61,807 to $62,113, but volume shrinkage indicates weak buying pressure.
Top News: Raydium Exploit, Coinbase Perpetuals Greenlit
Raydium pool exploit: A discontinued 2021 AMM V3 pool was drained via fake LP token mints, losing 150K RAY, 5,603 SOL, and 893K USDC — roughly $1.34 million total. The Raydium treasury will cover the losses.
Coinbase perpetuals approval: CEO Brian Armstrong revealed that roughly half of perpetual contract volume originates from US users on offshore platforms via VPN. The regulatory nod opens the door for Coinbase to offer compliant perpetuals domestically.
Pyth Network indices: Covering US stocks, gold, oil, and silver, now integrated by Coinbase, Kraken, and dYdX for derivatives settlement and benchmark pricing.
PiggyBank liquidation: A LAB basis trade was liquidated after funding rates hit -17,000% annualized, causing a $476,400 loss. Affected users will be compensated from future proceeds.
Stand With Crypto UK: Mobilizing 286,000 supporters to challenge bank restrictions after reports showed nearly £1 billion in exchange transfers canceled annually.
Other stories: BitMine's Tom Lee called blockchain fraud-free digital real estate; Arc issued a privacy whitepaper; Strategy's Bitcoin yield slipped from 13.0% to 12.8%; CFTC opened comment on event contracts; MNX raised $6.4M for a decentralized exchange.
Top Losers: Siren Down 21%, Venice Token Drops 15%
The biggest 24-hour losers included Siren (-20.94% to $0.7021), Venice Token (-14.83% to $13.04), and Lighter (-12.28% to $1.40), highlighting extreme volatility among small-cap tokens.