The crypto market is on the rise: Bitcoin is storming toward $77K, and stablecoins are conquering emerging markets
While most market participants were resting, the crypto industry continued to move actively. Bitcoin firmly established itself above $77,000, stablecoin neobank Fasset attracted a major investment round, and Tether's CEO spoke about the growing role of USDT in emerging market economies. We break down the key events of the past 24 hours.
Market dynamics: bullish momentum gains strength
At the time of analysis, at 08:50 Moscow time, Bitcoin was trading near the $77,050 mark, demonstrating a confident upward trend. Over the past 24 hours, the flagship cryptocurrency's price fluctuated in the range of $75,600 – $77,800, gaining 1.10% in a day and an impressive 21.41% over the week. This suggests that buyers are in control, and short-term corrections are perceived by the market as opportunities to enter long positions.
Ether (ETH) is also showing strength: the price rose by 2.90% in a day and 28.87% over the week, reaching $2,447. Overnight trading occurred in the range of $2,360 – $2,480, indicating high volatility and active struggle between bulls and bears at this level.
Among the top-25 altcoins, the growth leaders were Zcash (ZEC) with a gain of 6.51%, Sui (SUI) — 4.56%, and Hedera (HBAR) — 4.41%. At the same time, UNUS SED LEO (LEO) and Monero (XMR) corrected by 1.85% and 3.03%, respectively.
In the top-100 by market capitalization, weekly results are impressive: Ethena (ENA) surged by 99.54%, Stacks (STX) rose by 93.91%, and Official Trump (TRUMP) gained 76.33%. The week's laggard was JUST (JST), losing 7.59%.
Institutional inflows and liquidations
Analysis of flows into spot ETFs over the past week revealed sustained institutional interest. Bitcoin funds attracted approximately $1.92 billion, Ethereum products — $697.18 million, XRP — $39.78 million, Solana — $28.34 million, Chainlink (LINK) — $13.35 million, Hyperliquid (HYPE) — $3.89 million, Avalanche (AVAX) — $1.30 million, and Dogecoin (DOGE) — $654,000. The only asset with outflows was BNB funds, which lost about $262,000.
Over the past 24 hours, positions totaling $300.38 million were liquidated, affecting 72,982 traders. Short positions accounted for $167.16 million, while long positions accounted for $133.23 million. The largest liquidation order was executed on Binance for the ETHUSDT pair at $6.86 million.
Key overnight events
Stablecoin neobank Fasset raised $68 million in a funding round led by Japan's SBI Group, at a company valuation of $1 billion. Since the beginning of the year, the total amount of funds raised has reached $119 million. According to CEO Mohammad Raafi Hossain, the company processes over $40 billion in transactions on an annualized basis across 125 countries, with revenue growing sixfold compared to last year.
Tether CEO Paolo Ardoino emphasized that USDT usage is growing rapidly in emerging economies. Among key markets, he highlighted Venezuela, Argentina, Bolivia, and Turkey. The stablecoin is increasingly used for domestic and cross-border trade, as well as a digital dollar and a store of value amid the depreciation of local currencies.
Ledger CTO Charles Guillemet reported the elimination of a vulnerability in signing scenarios within the Ethereum application. The issue was discovered by the Ledger Donjon unit, and the fix was released two weeks ago. Users with up-to-date firmware and applications are fully protected.
My view: Current dynamics confirm a shift in market regime — institutional capital is actively entering digital assets, and stablecoins are becoming an integral part of global financial infrastructure. The growth of Fasset and Tether's comments are especially telling: real adoption in developing countries is not a speculative story but a fundamental driver that will support the market in the medium term.