The ruble-backed stablecoin A7A5, based in Kyrgyzstan, achieved a transaction volume of $9.3 billion in just four months. However, despite having a market cap of $156 million, the high volume was found to be largely generated by a few accounts repeatedly circulating tokens. This has drawn attention to the activity in the stablecoin market. 

Invesco and Galaxy have jointly filed with the SEC for the “Invesco Galaxy Solana ETF.” This initiative is increasing institutional interest in Solana and the broader crypto market. Analysts suggest that the ETF’s approval could boost liquidity for Solana and DeFi projects, positively impacting the market. 

Strong Moves in Bitcoin and DeFi 

The U.S. Dollar Index (DXY) fell to its lowest level since 2022. Amid rising geopolitical risks, Bitcoin has emerged as a safe haven. Analysts highlight a capital shift from traditional finance to crypto assets. Additionally, Metaplanet increased its Bitcoin holdings by 1,234 BTC, bringing the total to 12,345 BTC. This move surpasses Tesla’s Bitcoin position, strengthening the company’s crypto presence. Metaplanet is targeting a 315% return by 2025. 

Cryptocurrencies are now being accepted as reserve assets for home loans. A statement by the U.S. Federal Housing Agency noted that Bitcoin and other cryptos held on regulated exchanges can now be used as assets in mortgage applications. This regulation allows investors to secure loans without liquidating their crypto, accelerating mainstream adoption. 

Market Sentiment and Altcoin Season 

According to CoinMarketCap, the Bitcoin Fear and Greed Index stands at 50, indicating a neutral sentiment. Investors are neither overly fearful nor greedy, showing cautious optimism and market stability. 

Bitcoin’s market dominance is at 64.8%, suggesting growing interest in altcoins and portfolio diversification. Analysts believe the altcoin season has begun and expect the trend to continue. 

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With this latest increase, total inflows over the past seven consecutive weeks have reached $10.9 billion. However, market-wide volatility led to a decline in assets under management, dropping from $187 billion to $177 billion. James Butterfill, Head of Research at CoinShares, attributed this decline to uncertainties surrounding U.S. tariffs. In particular, the decision by the U.S. International Trade Court to declare former President Donald Trump’s tariffs unconstitutional caused market fluctuations. 

During this period, Bitcoin’s price fell sharply. Starting at $110,000, it dropped to a weekly low of $103,400. According to CoinGecko data, this marks a 6% decrease. Despite this, investment products continued to see strong inflows, indicating sustained investor interest in the market. 

Ethereum ETPs Lead Inflows, Bitcoin and XRP See Outflows 

Ethereum (ETH) ETPs led last week’s total inflows. These products received $321 million in investments, marking their strongest performance since December 2024. Ethereum is trading at 2,481.26 USDT.

In contrast, Bitcoin ETPs saw outflows of $8 million. Butterfill noted that this decline followed the New York court ruling declaring U.S. tariffs illegal. XRP investment products experienced the largest outflows of the week. An 80-week streak of inflows came to an end, with $28 million pulled from XRP products. Additionally, the drop in active XRP addresses and weakness in derivative markets led investors to adopt a more cautious stance. 

This marks the second consecutive week of losses for XRP, suggesting that investors are shifting their short-term positions. 

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