According to CoinGecko data, the current cryptocurrency market capitalization is $1,147,336,663,392, with a 24-hour trading volume of $66,272,662,683. The current Bitcoin market share is 47.1%, while Ethereum market share is 18.1%.

Interlay, an interoperability project, announced the launch of a Bitcoin-based L2 minimum viable product (MVP), which introduces Rust smart contracts, enabling compatibility with the Lightning Network and Ordinals. Interlay co-founder Alexei Zamyatin said in a statement, "Our goal is to enable developers to create truly decentralized applications and innovate on top of the existing Bitcoin stack, including Lightning, Ordinals, and Nostr."

Bitcoin's on-chain transaction volume has dropped to a multi-year low, according to data analysts. Despite an increase in demand for the cryptocurrency, the average traded volume has fallen to nearly five-year lows. The total volume of Bitcoins held on all cryptocurrency exchanges also fell to its lowest level since 2018 earlier this month. However, experts believe that the market could be waiting for a spot ETF approval in the United States, and Bitcoin's mainstream adoption is expected to continue in the coming years.

Raoul Pal, a former Goldman Sachs executive, is closely monitoring Bitcoin's 30-day historical volatility, which has dropped below 20 for the first time this year. This signal has preceded massive Bitcoin rallies five times in the past, and Pal believes hitting the 20 level could set the scene for Bitcoin to go on a huge run in the coming months.

HashKey Exchange opened bitcoin and ethereum trading to retail investors yesterday and supports deposits and withdrawals. According to the latest data from Coingecko, the 24-hour trading volume of HashKey Exchange was approximately $708,250 (over HKD 5.5 million), with the highest proportion of trading being the ETH/USDC trading pair (approximately 43.67%), followed by ETH/USD (25.44%) and USDT/USD (17.46%). The three bitcoin trading pairs BTC/USDC, BTC/USDT, and BTC/USD accounted for a total of approximately 12.47% of the trading volume.

The Bitcoin price has been hovering just above $26,000 after consolidating over the past week. Analysts predict a drop to $25,000 and below due to visible selling pressure on the technical charts. According to the PoW Floor pricing model, the BTC price could drop by 40% to under $15,000, which historically marks the end of bearish trends.

Bitcoin's price remains stable at around $26,000 after failing to break resistance at $27,000 last week. There are signs of a potential breakout approaching, with the Bollinger bands indicator squeezing on the four-hour chart. However, there are concerns that the breakout could start bearish, potentially dropping below $25,000 before resuming an uptrend.

Bitcoin and some major altcoins are trading in the green today, but the market sentiment is still fearful with a Fear and Greed Index score of 35/100. Bitcoin's price is bullish but still below $30,000 at $26,070.23, while other altcoins like Cardano and Polkadot are experiencing gains. The global crypto market cap is at $1.05 trillion, with a 24-hour volume of $24.30 billion and a 38.71% increase. Pepe coin and SUI token are down by 2.70% and 5.21%, respectively, while XDC token and CRV token are up by 8.21% and 4.57%, respectively.

Some Coinbase users have reported on social media that their wallet's Bitcoin balance is showing as 0. Coinbase later stated that some Coinbase wallet users may encounter errors when trying to create a new wallet or import an existing one. The team has identified the problem and implemented a fix, and is monitoring the results. User funds are safe. Coinbase Support has posted an update on X platform (formerly Twitter) stating that the wallet error has been resolved and balances are now displaying correctly.

HashKey has announced the launch of a trial version of the application that is open to retail customers. Customers can register, but virtual asset trading is not yet available. HashKey Group's Chief Operating Officer, Mr. Weng Xiaoqi, stated that the China Securities Regulatory Commission (CSRC) hopes to provide users with a trading application that has passed a comprehensive security assessment. Currently, the assessment is ongoing, and it is expected that the official trading version will be available for trading in September. At that time, customers can buy and sell Bitcoin and Ether.