The crypto market is healing, and the traders are slowly coming out of their fear-filled closet. The Altcoin Season Index is still in the Bitcoin territory as the markets await the altcoin season. That’s just the tip of the iceberg of what happened today. Read below for more
Coinbase acquires Echo
Crypto exchange Coinbase acquired Echo, an on-chain fundraising platform. Founded by Cobie, a crypto OG and long-time advocate for community-driven investing, Echo has tools that make fundraising more inclusive, transparent, and efficient.
According to the blog on Coinbase, ” We want to create more accessible, efficient, and transparent capital markets. But today, founders often struggle to raise capital, and individual investors don’t have the opportunity to invest in private token sales.”
Altcoin Season Index lingers in Bitcoin territory
The Altcoin Season Index (ASI) measures the direction of the market. In particular, where the funds are moving into– Bitcoin or altcoins, still lingers in the Bitcoin season. When the ASI indicator reads a value above 75, it means that more than 75% of the top 50 cryptocurrencies are outperforming Bitcoin. However, since the ASI is at 25, investors still prefer Bitcoin over altcoins.
Crypto derivatives market gets better
The crypto derivatives market was hemorrhaging badly during the past few weeks. However, the market is slowly but surely healing. Last Friday, more than $366 million flowed out of Bitcoin ETFs, while $232 million flowed out of ETH ETFs. However, yesterday the situation got better as the Bitcoin ETFs only leaked out $40 million while the ETH ETFs lost $146 million.
U.S. bank regulator dispelled fears about deposit crisis
U.S. bank regulator cleared doubts and dispelled all fears that the stablecoin would create a deposit crisis.
Addressing the attendees of the American Bankers Association Annual Convention in Charlotte on Monday, head of the Office of the Comptroller of the Currency, Jonathan Gould, stated that any material deposit flight “would not happen in unnoticed fashion” and “would not happen overnight. If it were a material flight from the banking system, the head promised to intervene
Solana plays offense–opens resale of shares
Solana Company (NASDAQ: HSDT) — formerly Helius Medical Technologies — has announced that it is “playing offense” as it opens the resale of shares for private investors, a strategic move that could test market confidence in its recent pivot toward a Solana-linked digital asset treasury.
On Monday, the company finalized its resale registration, giving private-placement investors the right to sell shares connected to its new blockchain-focused treasury strategy.
This filing effectively unlocked previously restricted stock from the company’s September funding round, allowing early backers to offload their holdings. The development prompted a sharp sell-off in HSDT shares, reflecting market uncertainty over the firm’s transition from medical technology to digital assets.
Traders accumulate Dogecoin
After the crypto market crash that followed Trump’s tariffs on China, traders are accumulating DOGECOIN. This accumulation comes in the backdrop of Elon Musk’s X post about the memecoin. An analyst, Ali Martinez, stated that around 10.5 billion DOGE were acquired at $0.21. With many holders having a small amount of unrealized loss, they may look to take profits once DOGE goes above this level.
Solana cofounder meddles with Github
Earlier today, crypto users noticed Solana founder Anatoly Yakovenko uploading code to GitHub that appeared to outline a decentralized perpetual futures exchange, sparking widespread speculation that a potential Hyperliquid rival might be in the works for the Solana ecosystem.
However, Yakovenko quickly dismissed the rumors, explaining that he was merely experimenting with Anthropic’s AI tool, Claude, and had accidentally made the GitHub repository public. Despite clarifying that the project isn’t real, he encouraged developers to “steal the idea” and bring it to life themselves.
