The overall crypto market capitalization reached $2.68 trillion, marking its first positive session after two consecutive red days. This growth occurred despite a decline in US stocks, where the S&P 500 fell 0.58% and the Nasdaq dropped 0.32%. The market is currently positioned 1.02% above its session low, with a resistance level at $2.73 trillion.
Spot Bitcoin ETFs experienced a shift in momentum, recording a net outflow of $46.65 million at the start of the week. This ended a three-week streak of inflows totaling $3.83 billion. Trading volume through these funds decreased to $2.41 billion from $14.50 billion the previous week, while total assets under management dropped to $99.52 billion from $101.25 billion.
Polkadot (DOT) showed significant gains, rising 13% in a single day and 52% over the past month. This surge is linked to a potential native stablecoin, dotUSD, which would be backed by DOT. The proposal involves an initial seed of $2.5 million in minting and $2.5 million in DOT. Current voting results show 2.36 million DOT in favor and 59,900 DOT opposed.
