This crypto market overview covers the main events of the morning of July 2: Eric Voorhees’s Venice AI reached a $1 billion valuation, the Trump family-linked mining company American Bitcoin hit a new all-time low, and Robinhood launched its own blockchain, Robinhood Chain.
- Venice AI, Eric Voorhees’s project, joined the unicorn club
- American Bitcoin shares dropped to a record low after a reverse consolidation decision
- Robinhood announced the launch of Robinhood Chain, a layer 2 network based on Arbitrum
The Largest Cryptocurrencies Start the Day Without Sharp Moves
According to TradingView, Bitcoin started the morning trading sideways. As of 07:43 Moscow time, the cryptocurrency was trading around $60,710, equivalent to about 4,704,406 rubles per token. Over the past 24 hours, Bitcoin’s low was $58,263 and its high was $61,223.
The US dollar remains the key settlement base for assessing market dynamics: the main quotes for Bitcoin, Ethereum, and other major coins are pegged to it. For investors, this picture is important not only in the context of speculation but also when assessing how a digital asset is reflected in accounting and affects investments.
Bitcoin price chart. Source: TradingView.
Ethereum, the second-largest cryptocurrency by market capitalization, also started without a clear trend. At the time of writing, the coin was trading at $1,629, or about 126,740 rubles per token.
Ethereum price chart. Source: TradingView.
Among the top ten largest cryptocurrencies, Solana showed the best daily result, gaining 3.51%. It also led the week with a 15.53% increase. Hyperliquid was the weakest performer of the day, losing 3.04%, while Dogecoin fell the most over the week, down 3.70%.
Top 10 cryptocurrencies by market capitalization. Source: CoinMarketCap.
In the top 100 by market capitalization, the most notable daily leader was MemeCore, which rose 60.62%. The best weekly result was Velvet, which grew by 206.72%. At the other end of the list, Audiera fell 21.69% in 24 hours and Worldcoin lost 25.99% over the week.
The near-term market dynamics largely depend on whether Bitcoin and Ethereum break out of their sideways range. If major coins maintain calm movement, attention may remain on individual altcoins with strong short-term dynamics. If pressure increases, investors are likely to focus again on liquidity, regulatory news, and the behavior of major platforms.
Eric Voorhees’s Venice AI Raises $65 Million and Reaches $1 Billion Valuation
Venice AI, founded by Eric Voorhees, held a Series A round for $65 million and reached a $1 billion valuation. After this, the company can be considered a “unicorn.”
Dragonfly was the lead investor in the round. Coinbase Ventures, F-Prime, North Island Ventures, and Morgan Creek also participated. For Venice AI, this is the first external capital raise since its launch in 2024.
The project’s main focus is privacy when working with artificial intelligence. The platform provides access to more than 200 AI models via proxy infrastructure that hides the IP address, account, and user session data. Interest in this approach is growing amid concerns about the privacy of AI services, especially in the United States, where user data protection remains a hot topic.
Trump Family’s American Bitcoin Falls to All-Time Low
Shares of American Bitcoin, a mining company linked to the Trump family, fell 8.4% to 62 cents. This is a new all-time low for the company’s stock.
Pressure on the stock increased after the announcement of a 1-for-15 reverse stock split. The company hopes to formally raise its share price and maintain its Nasdaq listing. According to exchange rules, an issuer risks being delisted if its shares trade below $1 for 30 consecutive trading days.
After the consolidation, the number of American Bitcoin shares should decrease from more than 1 billion to about 73 million. In the market, such steps are often seen as a warning sign: a reverse split usually signals business pressure and weak stock performance.
American Bitcoin remains the only public crypto company associated with the Trump family’s interests. For investors, the situation is telling: even when it comes to mining and crypto infrastructure, the share price remains the main indicator of market confidence.
Robinhood Launches Robinhood Chain Based on Arbitrum
Robinhood, a platform for trading stocks and cryptocurrencies, announced the launch of Robinhood Chain. This is a layer 2 network based on Arbitrum, which the company describes as “AI-native” infrastructure focused on real-world assets.
The network had been in testing since February. Now Robinhood is taking the next step toward blockchain products and expanding its crypto business. The company’s plans include launching crypto trading in the UK and developing a line of DeFi services.
This launch is also important for the market because Robinhood has long operated at the intersection of traditional finance and crypto. Users accustomed to bank transactions via classic financial infrastructure are getting more alternatives in the form of blockchain networks, tokenized assets, and DeFi tools.
Amid Robinhood’s activity, investors’ attention also remains focused on major crypto platforms and infrastructure players. Binance and Coinbase continue to be important market benchmarks, and Coinbase Ventures’s participation in the Venice AI round highlights major industry players’ interest in projects at the intersection of crypto and artificial intelligence.
Previously, Standard Chartered and Robinhood supported Morpho, adding to the overall picture: major financial and crypto companies continue to seek growth points in DeFi, tokenization, and digital asset infrastructure.
How the Crypto Market Works: Prices, Capitalization, and Types of Assets
Cryptocurrency is a digital asset that operates on a blockchain and does not require a single control center. Transactions are confirmed by network participants, and security is maintained by mechanisms such as mining or staking. In practice, this means a transfer can occur without a bank, but responsibility for storage and operations usually lies with the user.
The price of a cryptocurrency is formed by supply and demand, news, regulation, technological updates, liquidity, and overall market sentiment. It is convenient to track quotes via TradingView and CoinMarketCap: the former helps view charts, the latter quickly compares capitalization, trading volumes, and a coin’s market position.
Market capitalization shows the size of a cryptocurrency: it is the coin price multiplied by the number of coins in circulation. The higher the capitalization, the easier it is to assess the asset’s scale and compare it to others. However, high capitalization does not eliminate risks, and low capitalization often means more volatile price swings.
The main types of assets differ in their purposes. Bitcoin is often seen as the base crypto asset, altcoins compete for technological niches, stablecoins are pegged to more stable assets, and tokens can provide access to services, DeFi products, or specific ecosystems.
Investing, Earning, and Safe Storage of Cryptocurrency
You can earn on cryptocurrency in various ways: through trading, long-term investments, staking, mining, DeFi tools, NFTs, and participating in new project ecosystems. But returns always come with risk: the price can change sharply, a platform may restrict operations, and mistakes in transferring or storing funds can sometimes lead to losses.
Investment decisions should be tied to your time horizon, acceptable risk, liquidity, capitalization, news background, and understanding of the project itself. For basic analysis, investors usually start with major assets like Bitcoin and Ethereum, then look at more volatile altcoins such as Solana or Dogecoin. The greater the potential movement, the more important it is to know in advance where to exit a position and how much you can afford to lose.
Safe buying starts with a simple order of actions:
- choose a platform with clear trading and withdrawal terms
- check fees, limits, and available deposit methods
- buy a small amount to test before a large transaction
- withdraw assets to your own wallet if planning long-term storage
- store your seed phrase separately from your phone, email, and cloud services
Crypto wallets can be hardware, software, mobile, or paper. For large amounts, hardware storage is usually chosen; for everyday operations, mobile or software wallets are preferred, while paper wallets require especially careful handling of the physical medium. When choosing, it is important to control private keys, have a backup of the seed phrase, use two-factor protection, update regularly, and consider the developers’ reputation.
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