Crypto News Today (July 2): BTC Can’t Reclaim $60K, Solana Sets Fresh Network Records, June Crypto Losses Top $76M

In crypto news today (July 2), Bitcoin is sitting at $58,600, down another -1.2% over the past 24 hours as July continues to lean bearish for crypto. However, there was a brief rally overnight, which caused daily liquidations to spike to $448M, with $265M of that figure coming from short positions, highlighting that overleveraged bears were the biggest victims.

ETF flows are still bleeding heavily, with yesterday seeing a further -$296M in Bitcoin sold across various products, with BlackRock’s IBIT ETF accounting for $219M of that total. With IBIT selling more than $2.1Bn worth of BTC over the past 10 sessions, the worlds largest asset manager is firmly in control of current price action.

While nearly every major cap token is currently in the red over the past 24 hours, Stellar (XLM) and Cardano (ADA) are two of the more prominent projects in the green today, up +11% and +4.5% respectively. Daily trading volume continues to decline, currently at $75Bn, down from $82Bn yesterday.

With the brief overnight rally across crypto, the Fear & Greed Index spiked to 19/100, up from 11/100 yesterday, although most tokens have already retraced the move, which is likely to cause a drop back toward single digits on the next update.

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Crypto News Today: SOL USD Spikes on News of Record Network Activity

Solana is continually setting new records for network activity and ecosystem revenue. However, broader weakness in the cryptocurrency market is preventing these strong fundamentals from translating into sustained price growth.

A significant recent development is the launch of Solana Governance Proposals (SGP), a new on-chain governance system that enables validators and delegators to directly participate in decisions regarding the network’s future.

This initiative represents one of Solana’s most important steps towards greater decentralization and is expected to make the ecosystem more appealing to institutional investors.

Meanwhile, the network’s core metrics continue to reach new heights. Over the past 30 days, Solana processed 3.77 billion non-vote transactions, marking the highest monthly total in the blockchain’s history.

Furthermore, applications built on Solana generated $257 million in revenue during the second quarter, allowing the network to maintain its position as the leading Layer 1 blockchain by dApp revenue for the ninth consecutive quarter.

Despite these robust fundamentals, the SOL token has not yet experienced a significant rally. The primary reason for this stagnation is the overall weakness in the cryptocurrency market and the ongoing outflow of institutional capital from digital assets.

THE TOKENIZATION TREND IS HARD TO IGNORE.

June tokenized equities volume:

Solana: $3.31B (95.6% market share)
Base: $81.0M
BNB: $59.6M
Ethereum: $2.0M

solana:So11111111111111111111111111111111111111112 network processed over 40x Base's volume and more than… pic.twitter.com/t4Lq1mLwM0

— CryptosRus (@CryptosR_Us) July 2, 2026

Crypto Hackers Make Off With Nearly $76M in June as Attacks Slow: Sign of an Exhausted Market?

​In other crypto news today, hackers stole approximately $75.9M in June across 40 major crypto incidents. According to blockchain security firm PeckShield, this figure represents a 7.1% decrease from May, when losses totaled $81.7M.

As reported by The Block, the largest incident of the month was the Humanity Protocol exploit, which PeckShield estimates accounted for $31M. On-chain analyst Specter was the first to reveal that wallets linked to the project lost over $31M on June 9.

However, Humanity Protocol’s own investigation later reported the damage to be closer to $36M. Project founder Terence Kwok stated that the attack resulted from a compromised private key.

The second-largest incident involved the $10M Syscoin Bridge exploit. PeckShield noted that the attacker exploited a validation flaw, enabling them to mint billions of unbacked SYS tokens without burning the corresponding assets.

Another notable victim was a bot associated with the address JaredFromSubway.eth, known for conducting MEV sandwich attacks. PeckShield estimated that the bot itself was exploited for $7.5M.

Other significant incidents in June included attacks on Secret Network, Polymarket users, SecondFi, and TESSERA, with losses ranging from $2.4M to $4.67M.

CRYPTO HACKS HIT $75.9M ACROSS 40 INCIDENTS IN JUNE, DOWN FROM MAY!

According to PeckShield data, hackers stole roughly $75.9 million from crypto projects in June across 40 separate incidents, a 7% drop from May’s $81.7 million.

The biggest loss came from the Humanity… pic.twitter.com/tNcFIoyoC8

— Crypto Banter (@crypto_banter) July 1, 2026

The post appeared first on 99Bitcoins.