Crypto News Today: Crypto Market Cap Stalls at $3.7T as Traders Exit, Institutions Accumulate Bitcoin and Ether
Key Takeaways:Crypto market cap stabilizes between $3.6T and $3.8T, with a shift in trader focus to micro-cap tokens.Bitcoin repeatedly tests its 50-day moving average, indicating market fatigue, despite ongoing institutional accumulation.Stablecoin market expands for a seventh straight month, led by Ethena’s USDe, now the third-largest stablecoin.Market Rotation Signals Summer Lull Despite Institutional StrengthThe total cryptocurrency market cap held steady at $3.72 trillion on Thursday, maintaining a narrow trading band between $3.6T and $3.8T as traders pivot away from large-cap tokens. Short-term players are increasingly rotating into micro-cap altcoins, signaling a potential summer slowdown in momentum among major assets.According to FxPro analyst Alex Kuptsikevich, Bitcoin is showing signs of technical exhaustion as it continues to retest its 50-day moving average, currently sitting near $115,000. “Such frequent testing of the medium-term trend signal line indicates accumulated fatigue in the first cryptocurrency,” he noted.Institutions Accumulate BTC and ETH Despite Retail CautionWhile retail traders may be stepping back, institutional accumulation of Bitcoin and Ethereum continues to grow:Strategy acquired 21,021 BTC ($2.46 billion) in July.Total institutional Bitcoin holdings now stand at 1.35 million BTC, or over 6% of circulating supply, per BitcoinTreasuries.SharpLink, a gaming company, added 83,561 ETH last week (~$264.5 million), increasing its reserves to 522,000 ETH.In total, 64 corporates now hold 2.96 million ETH, worth over $10.8 billion — roughly 2.45% of total supply.These developments point to continued long-term confidence in the crypto market from institutional investors, even as retail trading activity slows.Stablecoin Market Hits $275B as Ethena’s USDe SurgesOne of the biggest shifts in market dynamics is happening in the stablecoin sector:Total stablecoin market cap is nearing $275 billion, marking its seventh consecutive month of growth.Ethena’s USDe has surged 75% since mid-July, becoming the third-largest stablecoin by market cap at $9.5 billion.This growth is largely driven by attractive yields of 10%–19%, drawing capital into dollar-pegged assets.The rise in stablecoin inflows suggests new fiat is entering the crypto ecosystem, a bullish signal that could precede renewed buy-side pressure across the market.Price Snapshot (As of Asian Morning, August 8, 2025)TokenPrice24H ChangeBitcoin (BTC)$114,570—Ethereum (ETH)$3,650—XRP$2.97+2%Solana (SOL)$170.04+3.5%Dogecoin (DOGE)$0.2065+3.5% Despite low volatility, selected large-cap tokens such as SOL and DOGE led modest gains.Range-Bound Market Awaits Next CatalystWhile the crypto market remains range-bound, analysts see rising stablecoin reserves and institutional buying as long-term bullish signals. However, until macro catalysts or regulatory breakthroughs emerge, the market may remain stuck in a consolidation phase—especially as retail interest in major assets like Bitcoin and Ether appears to wane.Traders are watching:Bitcoin’s behavior around the $114K–$116K zone and its 50-day SMAStablecoin rotation into altcoinsContinued ETF and corporate treasury inflows into BTC and ETH