Here’s what happened in crypto today
Quick snapshot of the day’s biggest moves across crypto markets, NFTs, exchanges and regulation.
Blue‑chip NFTs pull back as Ether cools off
Leading non‑fungible token collections suffered double‑digit weekly declines after Ether reversed from recent highs. Aggregated market data showed several top projects saw their floor prices fall substantially over the past seven days, with some of the hardest‑hit collections including Pudgy Penguins, Bored Ape Yacht Club and Doodles.
Examples from the period covered: Pudgy Penguins lost roughly 17% and traded near 10.3 ETH at its floor, BAYC slipped by about 15% to around 9.6 ETH, and Doodles dropped close to 19% to roughly 0.73 ETH. Other well‑known collections also fell in the low‑to‑mid double digits.
The NFT weakness followed a sharp retreat in Ether after it reached a fresh all‑time high. ETH pulled back by about 12% from its peak — briefly moving from near $4,946 down to roughly $4,342 — before a partial recovery that left it trading in the mid‑$4,400s at the time the article was filed.
Gemini climbs App Store ranks after XRP rewards card launch
Gemini jumped up the U.S. App Store finance rankings shortly after unveiling a metal credit card that offers XRP rewards in partnership with Ripple and Mastercard. The card advertises up to 4% back in XRP on purchases, delivered instantly, and the announcement coincided with a notable rise in Gemini’s app ranking relative to Coinbase.
The App Store movement came despite Coinbase having significantly higher daily trading volume than Gemini, a disparity noted by market observers.
Regulators and exchange groups push back on tokenized stocks
Industry bodies and financial regulators have raised concerns about the rapid spread of tokenized stock products, urging stricter oversight. The groups argue these instruments can mimic equities while lacking investor protections that apply in traditional markets, and they are pressing for clearer regulation to address the associated risks.
The call for action reflects growing attention to tokenized securities on Wall Street and internationally, where proponents tout efficiency and access while critics warn about complexity and investor exposure.
Other market developments
Separately, reports circulated that several large crypto firms and funds are mobilizing capital to increase exposure to specific layer‑1 networks. At the same time, industry conversations continue around market security, compliance and the evolving interplay between centralized exchanges, on‑chain products and traditional financial infrastructure.
