The crypto market moved higher on July 10, with total market capitalization reaching $2.25 trillion, up 1.9% over 24 hours. Trading volume, though, slipped to $60.3 billion. Bitcoin traded at $63,356.14, rising 2.18%, while Ethereum changed hands at $1,750.15, up 1.02%. Sentiment improved only slightly. The Fear & Greed Index stood at 23, still in the “Extreme Fear” range.
Bitcoin and Ethereum recovered, while DeFi posted stronger growth
Bitcoin continued to dominate the market with a 56.3% share, while Ethereum accounted for 9.36%. Stablecoins showed a 0.2% negative change in the past day, with a market capitalization of $307.7 billion and trading volume of $51.5 billion. DeFi outperformed the broader market. Its total capitalization climbed to $73 billion, up 6.8% in 24 hours, with volume at $3.1 billion and global dominance at 4.5%.
Token performance remained uneven. Among the stronger movers, DEXE rose to $33.94 for a 17.19% gain, ARB advanced 12.84% to $0.08802, and MORPHO added 9.61% to $2.25. Losses were also steep in parts of the market. ARROW fell 26.98% and LAB dropped 18.51%. The price action pointed to a rebound, but not a broad reset in risk appetite.
Polymarket moves on margin trading as Bybit faces South Korea restrictions
Regulatory developments remained central to the day’s headlines. Polymarket applied for a U.S. FCM license as it looks to launch margin trading. The platform still needs approval from the CFTC, and users will have to complete additional identity verification steps. In South Korea, the Bybit app disappeared from the Google Play Store after regulatory action tied to local financial rules targeting unregistered overseas crypto exchanges.
In the UK, four Labour MPs proposed turning the temporary ban on crypto political donations into a permanent rule. The amendment would also tighten donor checks and reduce campaign spending limits. In the U.S., Subversive Capital filed for two actively managed prediction markets ETFs that would invest across politics, sports, weather, and macroeconomic events.
On-chain warning, Grayscale finance reshuffle, and MiCA fallout in Europe
On-chain analyst Specter warned that CodexField showed possible Rug Pull risk after suspicious movements involving more than $17 million. The situation remains unresolved. Grayscale CFO Edward McGee resigned for personal reasons, and the firm named two interim finance chiefs while its previously planned U.S. IPO stayed on hold.
Binance CEO Richard Teng said about 70% of the exchange’s European users moved assets into self-custody wallets after MiCA-related service changes, rather than shifting to competing platforms. At the same time, Goldman Sachs, Morgan Stanley, and Bank of America tightened internal rules on employee participation in prediction market trading because of insider trading concerns. Compared with July 9, total crypto market capitalization rose from $2.21 trillion to $2.25 trillion, and the Fear & Greed Index improved from 22 to 23.