Crypto Market Cap Reaches $3.22 Trillion; XRP Surges; Japan Backs Crypto
The global crypto market capitalization increased by 2% to $3.22 trillion, driven by gains in major cryptocurrencies. XRP led the surge with a 12% increase. Bitcoin rose by 1%, while Ethereum increased by 2%. Institutional interest in crypto is growing, with Bank of America initiating crypto recommendations for wealth clients and Morgan Stanley filing for a Solana Trust with the SEC. Goldman Sachs upgraded Coinbase but downgraded eToro. Japan's finance minister endorsed deeper crypto integration. Vitalik Buterin stated that Ethereum has solved the "Blockchain Trilemma" through its Layer-2 roadmap. Kraken is investigating a potential security exploit, and Ledger users face a data breach.
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