Crypto market value rises to $3.22 trillion as XRP jumps 12%

The crypto market added ground, with total market value rising 2% to $3.22 trillion as several major tokens moved higher. For retail investors, the move matters because crypto prices are being shaped by two forces at once: stronger token performance and more activity from major financial firms.

Market capitalization, or market cap, is the combined value of a token or market based on current prices. In this case, the global crypto market cap rose as Bitcoin gained 1% to $93,780, Ether climbed 2% to $3,240 and Solana advanced 3% to $139. XRP led the larger names, rising 12% to $2.37.

Among the top movers, RENDER and SUI each rose 18%, while LIT gained 15%.

The crypto Fear and Greed indicator also returned to neutral. That kind of gauge is used to summarize market sentiment, with readings generally meant to show whether traders are acting more cautiously or more aggressively.

Wall Street adds more crypto products and coverage

Bank of America formally launched crypto recommendations for wealth clients, with portfolio allocations of up to 4%, according to the update. A portfolio allocation is the share of an investor’s holdings assigned to a specific asset class, such as stocks, bonds, cash or crypto.

Morgan Stanley filed for a Solana Trust with the U.S. Securities and Exchange Commission, according to the filing activity cited. A trust structure can give investors exposure to an asset without requiring them to directly hold the token, though the exact terms depend on the product and regulatory review.

Goldman Sachs also changed its view on crypto-linked equities, upgrading Coinbase to a “Buy” rating while downgrading eToro. Analyst ratings are opinions from brokerage or investment-bank research teams. They can affect how investors talk about a stock, but they are not guarantees of future performance.

Japan signals support for deeper crypto integration

Japan’s finance minister endorsed deeper crypto integration, including lower taxes and exchange-level reforms. Lower tax treatment could affect how investors and companies account for crypto gains, while exchange reforms would focus on the platforms where customers buy, sell and custody digital assets.

The endorsement adds another policy signal from a major economy at a time when crypto businesses are watching regulation closely. The details, timing and legal path for any changes were not specified.

Ethereum claim and security concerns

Ethereum co-founder Vitalik Buterin said Ethereum has effectively solved the “blockchain trilemma” through its Layer-2 roadmap. The blockchain trilemma refers to the challenge of balancing three goals: decentralization, security and scalability. Scalability means the ability to handle more transactions without slowing down or becoming too expensive.

Layer-2 networks are systems built on top of a main blockchain to process activity more efficiently while still relying on the base chain for settlement or security. Buterin’s claim centers on the idea that Ethereum can improve capacity through these added networks without giving up decentralization.

Security issues also remain in focus. Kraken is investigating reports that customer data is allegedly being sold on the dark web after a potential security exploit. Separately, Ledger users are on alert after the hardware wallet provider faced a data breach involving its e-commerce partner, Global-E, which exposed customer contact details.

This story draws on original reporting from Decrypt.