This crypto market review begins with three notable events of the morning: users from the US became the largest group on Polymarket’s political markets despite restrictions, Bitwise questioned Strategy’s former role as the key Bitcoin buyer, and Chris Larsen from Ripple Labs invested in a crypto exchange linked to the son of Senator Kirsten Gillibrand.
Crypto Market on the Morning of July 3: Bitcoin and Ethereum Move Without Sharp Surges
Bitcoin started the day in a sideways range. According to TradingView, as of 08:03 Moscow time, the main cryptocurrency was trading around $61,365, and the price per token in rubles was about ₽4,763,337. Over the past 24 hours, the BTC low was $60,038, and the high reached $62,117. Quotes, like most market benchmarks, are presented in US dollars.
Ethereum, the second largest cryptocurrency by market capitalization, also did not show strong directional movement at the start of the day. At the time of writing, the coin was trading at $1,701, which was about ₽132,043 per token.
In the top ten largest cryptocurrencies after BTC and Ethereum, attention shifted to altcoins. Hyperliquid showed the best daily result: the asset rose by 4.78%. For the week, Solana led with an 18.67% increase. All coins in the top 10, except stablecoins, gained over the day, and the most notable weekly drop in this group was Tron: minus 1.40%.
Among the 100 largest cryptocurrencies, MemeCore stood out the most: the token rose by 29.72% in a day and by 110.39% in a week. On the opposite side of the market was Morpho, which lost 7.48% over the past 24 hours. For the week, the biggest drop was recorded by Worldcoin: the asset fell by 12.00%. For investors tracking the market through Binance, Coinbase, and other platforms, this dynamic shows that interest in risky altcoins remains, although volatility is still high.
Users From the US Remain the Main Audience on Polymarket
Users from the United States of America remain the largest group of participants in political markets on Polymarket, even though the platform has officially closed access for them. This conclusion was reached by Allium analysts who studied activity on the platform.
According to their data, American users bypass geographic blocks. This refers specifically to the global version of Polymarket, not the regulated Polymarket US. Unlike a regular bank transaction, user behavior on blockchain platforms can be assessed by a wider range of activity traces, including market selection and participation volume.
The interests of the American audience differ significantly from the preferences of other groups. Five out of twelve of the most popular markets among US users are related to the war in Iran. At the same time, election topics interest them less than other Polymarket participants.
Bitwise: Strategy May Lose Status as Main Bitcoin Buyer
Strategy risks losing its role as the world’s largest Bitcoin buyer. Bitwise Chief Investment Officer Matt Hougan believes that the previous demand model, where Strategy for years acted as the dominant and almost one-sided BTC buyer, is nearing its end.
According to Matt Hougan, new demand for Bitcoin will be formed by other major players: investment banks, asset managers, pension funds, and sovereign funds. For the market, this is an important shift: if previously one large participant significantly influenced the demand balance, now the buyer structure may become broader.
The doubts were triggered by issues around STRC. This is Strategy’s perpetual preferred share; in finance, such an instrument requires trust in the issuer’s ability to maintain payments. At the end of June, STRC plummeted from $100 to below $75. The drop heightened concerns that the company’s dividend model may be unsustainable.
The STRC crash coincided with Bitcoin’s fall to a 21-month low. For Strategy, Bitcoin remains a key asset on the company’s balance sheet, so any doubts about the stability of its financial structure are quickly reflected in the perception of the entire BTC accumulation strategy.
Chris Larsen of Ripple Labs Invested in Senator’s Son’s Project
Ripple Labs co-founder and executive chairman Chris Larsen was among the investors in American Perpetuals Exchange Corp., or APEC. This derivatives exchange was founded by Theodore Gillibrand, son of US Senator Kirsten Gillibrand.
The exact amount of Chris Larsen’s investment is not disclosed. Most investors who participated in the round contributed between $5,000 and $10,000. In total, APEC raised $30 million. For a young crypto exchange, such investments can be an important stage in launching and developing the product.
The situation drew attention because of Kirsten Gillibrand’s role in discussing the ethical provisions of the CLARITY bill, which is supposed to define the structure of the crypto market in the US. This document could seriously affect crypto companies operating in the US jurisdiction, including Ripple Labs.
Earlier, Kirsten Gillibrand said that members of Congress and officials should not be allowed to profit personally from insider positions. Against this backdrop, Chris Larsen’s investment in a project linked to her son stands out as a particularly notable episode for the crypto industry.
The morning of July 3 showed that the crypto market remains sensitive not only to BTC and Ethereum prices, but also to regulation, the behavior of major investors, and trust in the financial instruments of companies connected to digital assets.
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