Crypto wrap: Bitcoin steady, ETH eyes $5k as PUMP, ENA and S lead gainers
Main Idea
Bitcoin remains steady around $118k, Ethereum eyes $5k amid bullish trends, and altcoins like PUMP, ENA, and Sonic’s S lead market gains.
Key Points
1. Bitcoin holds at $118,446, showing resilience despite recent dips, supported by the Federal Reserve's decision to maintain interest rates at 4.50%.
2. Ethereum trades near $3,940, with analysts forecasting a potential surge to $5,000, driven by on-chain activity and institutional demand.
3. Altcoins PUMP, ENA, and Sonic’s S lead the top 100 gainers with 24-hour increases of 26%, 16%, and 14% respectively.
4. The SEC approved in-kind creations and redemptions for Bitwise Bitcoin ETF and Bitwise Ethereum ETF, among other spot crypto ETPs.
5. Market capitalization stands at $3.9 trillion, up 1.3%, with trading volume increasing by 7% to over $172 billion.
Description
Cryptocurrencies continue to show overall resilience on Thursday, July 31, 2025, with Bitcoin steady as Ethereum eyes $5k target and altcoins like Pump.fun (PUMP), Ethena (ENA), and Sonic’s S spearhead top 100 gainers. This sees the overall market capitalisation hover at $3.9 trillion, up 1.3% in the past 24 hours. Meanwhile, trading volume has jumped 7% to over $172 billion. Overall, sentiment remains cautiously optimistic, bolstered by institutional interest and macroeconomic developments. Bit...
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