The crypto markets began the brand new week within the inexperienced, with altcoins main the cost Monday morning.
Dogecoin was the very best performer among the many 10 greatest digital property by market capitalization, up 3.4% on the time of writing.
The meme coin’s efficiency may very well be linked to the information that billionaire Dogecoin fan Elon Musk is establishing a brand new political occasion, dubbed “The America Celebration,” which is able to intention to offer an alternative choice to the Democrats and Republicans.
In a late-night tweet session, the world’s richest man confirmed that his new platform will embrace Bitcoin as a result of “fiat is hopeless,” although he failed to say Dogecoin.
Elon Musk and Dogecoin
Musk and the crypto world have a protracted and sophisticated relationship, with the billionaire’s affinity for Dogecoin a recurring theme.
Simply final 12 months, he proposed and led the “Division of Authorities Effectivity,” whose identify fashioned a backronym of Dogecoin’s DOGE ticker.
Monday’s market strikes could point out merchants are hopeful that there will probably be a spot for Dogecoin in Musk’s political occasion—or on the very least, that he’ll put up about it once more.
Solana pops following staking ETF launch
Different sturdy performers amongst main altcoins embrace Solana and Ethereum, which have risen by 3.1% and 1.9% respectively at time of publication.
Wednesday noticed an exchange-traded fund providing publicity to Solana launch for the primary time within the U.S.—with a REX Shares and Osprey Funds spokesperson telling Decrypt it generated $12 million in inflows on day one.
Quantity in $SSK now at $20m, which is basically sturdy, prime 1% for a brand new launch. For context, $SOLZ did $1m on Day One, and that is fairly good. Additionally, the $25m in seed property makes $SSK already greater than $SOLZ. https://t.co/ibiKxizeeQ
— Eric Balchunas (@EricBalchunas) July 2, 2025
Bloomberg analyst Eric Balchunas famous it had a “wholesome begin to buying and selling” that put the fund throughout the prime 1% of recent launches.
Nonetheless, the Securities and Trade Fee is but to determine on whether or not to present the inexperienced mild to ETFs monitoring the spot worth of SOL and different altcoins, which might probably drive billions of {dollars} of institutional funding.
Altcoins are significantly outperforming Bitcoin at time of publication, with the alpha crypto comparatively flat, rising simply 0.5% over the previous 24 hours.
