24 Hour Crypto Recap: Here’s What Happened in the Market

• BlackRock, Goldman Lampe and other institutions stayed active despite the broader market weakness. 
• Open Standard’s Open USD announcement intensified stablecoin competition.
• Knaken faces bankruptcy while Binance battles a £150M UK lawsuit over crypto derivatives. 

While Bitcoin struggled below $60,000, the total crypto market cap remained flat, at $2.05 trillion. Meanwhile, Ethereum held $1,500, and among the altcoins, Solana (SOL) outperformed, up more than 1% in the past 24 hours.

On the other hand, Stellar (XLM) was up by 7% while Cardano (ADA) soared 4%, breaking the broader bearish market trend. Bitcoin Cash (BCH) was also up 3% on the day, according to CoinMarketCap.

Institutional Money Keeps Moving Despite Market Weakness

BlackRock transferred another 4,385 BTC worth about $260 million and 30,725 ETH valued at roughly $48.6 million to Coinbase. Over…

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