The global cryptocurrency market cap currently stands at US$2.91 trillion

Bitcoin continues to hold the largest share of the market, commanding 63.4% dominance, followed by Ethereum at 7.2%.

The global cryptocurrency market cap now stands at US$2.91 trillion, reflecting a minimal 0.04% drop over the last 24 hours. Despite this slight decrease, the market remains robust with an impressive 24-hour trading volume of US$94.01 billion.

Bitcoin continues to hold the largest share of the market, commanding 63.4% dominance, followed by Ethereum at 7.2%. In terms of trending coins, SUI has gained notable attention, rising by 9.61% to $3.31, while ONDO saw a 6.29% increase, priced at US$0.9559.

SUI, ONDO, INIT, ADA, and POL lead the charge in trending cryptocurrencies. Among them, INIT has posted the most significant growth, surging 19.41% to reach US$0.7753.

The Fear & Greed index remains neutral at 52, suggesting that the market is exhibiting indecision as traders await further signals.

Altcoin season has cooled off, scoring a 17 out of 100, highlighting Bitcoin’s continuing dominance over altcoins.

In other news, a new Bitcoin giant, Twenty One Capital, is launching with over 42,000 BTC (worth US$3.6 billion) in funding from Tether and SoftBank. The firm, headed by Strike's Jack Mallers, will be going public later this year under the ticker XXI.

This initiative is aiming to rival Michael Saylor's Bitcoin strategy.

The firm's launch will be interesting to watch as the competition in the crypto space continues to escalate.

Despite slight drops and shifts, the crypto market is still moving with coins like SUI, INIT, and POL gaining momentum. As Bitcoin continues to reign supreme, the overall crypto market sentiment remains neutral as traders await more developments, especially with the emergence of Twenty One Capital.