Crypto Market Update Today: Impact of Coinbase, Vanguard, Kalshi News

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3 trillion, marking a 0.8% decline in the last 24 hours.

• Daily trading volume reached $181.7 billion

• Bitcoin remains the leader with a 57.3% dominance, while Ethereum holds a 11.2% share.

• A total of 19,318 cryptocurrencies are currently being tracked.

• The largest gainers in the industry are Polkadot and XRP Ledger Ecosystem.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin (BTC) and Ethereum (ETH) Price:

• Bitcoin price is at $86,768.35, down 0.88% in the past 24 hours, with a market cap of $1.73 trillion and a 24-hour trading volume of $81.6 billion.

• Ethereum is priced at $2,805.42, falling 1.72% over the last day, holding a market cap of $338.6 billion and a 24-hour trading volume of $32.5 billion.

Top 5 Trending Coins in 24 Hours:

• Rayls (RLS) is trading at $0.02596, down 63%, with a strong trading volume of $53.58 million.

• Bitcoin (BTC) is priced at $86,735.23, slipping 0.69%, and recording $81.57 billion in trading volume.

• DeMCP (DMCP) is trading at $0.0001304, down 3.97%, with a trading volume of $16.4K.

• Yooldo (ESPORTS) is trading at $0.4497, down 1.81%, with $237.09 million in trading volume.

• Ethereum (ETH) is priced at $2,804.19, dropping 1.6%, with $32.5 billion in trading volume.

Top 3 Gainers in 24 hours:

• Nexo (NEXO) is trading at $0.9549, up 3.98%, with a TV of $25.75M.

• MYX Finance (MYX) has risen 3.59% to $2.94, with a TV $75.59M

• JUST (JST) is priced at $0.04391, gaining 2.84%, with a TV of $106.77M.

Top 3 Losers in 24 hours:

• AB (AB) at $0.005289, down 11.80%, with a TV of $18.4M.

• Zcash (ZEC) at $346.02, down 11.21%, with a TV of $1.44B.

• Polygon (POL, previously MATIC) at $0.1176, down 6.70%, with a TV of $123.25M.

Stablecoins and Defi Update:

• Stablecoins hold a market cap of $309.9 billion with $128.4 billion in trading volume, representing 0.1% positive change.  

• The DeFi market cap stands at $105 billion, down 5.4% in the last 24 hours, with a trading volume of $7 billion. DeFi dominance remains at 3.5%.

Fear and Greed Index Today

Source: Alternative Me

Today’s Fear & Greed Index shows Extreme Fear at 23, slightly lower than yesterday. This drop reflects uncertainty caused by recent price volatility, aggressive sell-offs, and investors avoiding risk. Continued fear signals weakened confidence and cautious trading behaviour across the industry.

Latest Cryptocurrency Market News Today, Dec 2

1. Kalshi Activates Tokenized Event Contracts on Solana

Kalshi has enabled tokenized event contracts on Solana, letting users trade them anonymously on-chain. DFlow and Jupiter will bridge Kalshi’s off-chain orderbook to Solana, boosting institutional liquidity access.

2. Vanguard Finally Opens Doors to Crypto Funds

Vanguard will allow Bitcoin, Ether, XRP, Solana and other regulated crypto ETFs and mutual funds to trade from December 2, 2025, ending its anti-crypto stance while excluding memecoin-linked products.

3. Coinbase to Launch Spot Trading for Plasma (XPL)

Coinbase announced that spot trading for Plasma (XPL) will begin on December 2, 2025. The XPL-USD pair will open at or after 9 AM PT, depending on liquidity.

4. Coinbase Reports Sharp Rise in Global Data Requests

Coinbase’s 2025 Transparency Report shows 12,716 government data requests, up 19% year-on-year. Over half came from outside the U.S., with France posting the biggest surge at 111%.

5. Europe Shuts Down Major Bitcoin Mixer

Germany and Switzerland have shut down Cryptomixer, a Bitcoin mixing service that laundered $1.4B. Authorities seized $27M and key servers. Experts say ransomware groups will quickly move to other laundering methods.

6. BitMine Immersion Reports $12.1B in Holdings

BitMine Immersion announced total holdings of $12.1B, including 3.73M ETH and $882M cash. The company will host its annual shareholder meeting on January 15, 2026, in Las Vegas.

7. Strategy Inc. Sets $1.44B Reserve to Stabilize Payouts

Strategy Inc. has created a $1.44B reserve from at-the-market stock sales to secure 12 months of dividends and interest. Holding 650,000 BTC, it aims to manage market volatility effectively.

8. CNB Governor Highlights Bitcoin’s Strong Return Potential

The CNB governor said a 2.5% Bitcoin ETF allocation could match raising U.S. equity exposure with less volatility. A 5% BTC stake over the decade would’ve boosted returns but doubled volatility.

9. Yorkville, TMTG & Crypto.com Plan CRO-Focused Digital Asset Vault

Yorkville Acquisition, Trump Media, and Crypto.com will merge to form a CRO-staking digital asset vault. The deal includes buying 684.4M CRO, with completion expected early 2026 as CRO drops 30%.

10. Forward Industries Names Ryan Navi as New CIO

Solana vault firm Forward Industries has appointed ex-ParaFi executive Ryan Navi as CIO, overseeing SOL vault and staking strategies. The firm now holds 6.91M SOL as its stock drops sharply.

CoinGabbar’s Opinion

Based on today’s cryptocurrency update, investors should exercise caution. The overall markets show a 0.8% decline, with the Fear & Greed Index at Extreme Fear (23), indicating heightened uncertainty. Major coins are falling, and regulatory actions and institutional developments are shaping volatility. Stablecoins and established DeFi projects appear safer, while high-risk tokens may face continued turbulence.

Disclaimer: This is not financial advice. Please DYOR before investing. CoinGabbar is not responsible for any financial losses.