Crucial Crypto News Today: Polymarket, NFT Market Decline, and Gemini XRP Dominate Headlines

The world of digital assets constantly evolves. Staying informed about the latest **crypto news today** is essential for every enthusiast. This report delves into the significant events shaping the market, from political figures entering the Web3 space to shifts in major asset classes. Discover the key developments impacting Bitcoin price, blockchain, DeFi, NFTs, Web3, and crypto regulation.

Polymarket and Donald Trump Jr. Spark New Interest

Prediction market Polymarket recently made significant headlines. Donald Trump Jr. officially joined its advisory board. This move follows a strategic investment from 1789 Capital. The fund describes itself as a politically aligned vehicle. It supports companies that advance ‘American exceptionalism.’

While financial terms remain undisclosed, Axios estimated the investment at ‘double-digit millions of dollars.’ Trump Jr. became a partner in the fund in 2024. He stated on Tuesday that ‘Polymarket cuts through media spin and so-called ‘expert’ opinion.’ He believes it lets people bet on actual world events. This development highlights the growing intersection of politics and decentralized platforms.

Polymarket aims for a regulated return to the US market. The Commodity Futures Trading Commission (CFTC) previously forced it to block American users. In 2022, the CFTC fined the company $1.4 million. It cited the operation of an unregistered swaps platform. To regain a legal foothold, Polymarket acquired QCEX in July 2025 for $112 million. QCEX is a CFTC-licensed derivatives exchange. This acquisition coincided with the closure of CFTC and Department of Justice investigations. This pivotal moment could redefine the future of prediction markets in the US, especially with a figure like **Polymarket Donald Trump Jr** now involved.

Understanding the Recent NFT Market Decline

Blue-chip non-fungible token (NFT) collections recently experienced steep weekly declines. This downturn occurred as Ether (ETH) pulled back from its all-time highs. Data from decentralized finance aggregator DefiLlama confirmed this trend. Top projects saw their floor prices sink by double digits over the last seven days. This **NFT market decline** affected several prominent collections significantly.

Blue-chip NFT collections such as Pudgy Penguins, Bored Ape Yacht Club (BAYC), and Doodles were among the hardest hit. Pudgy Penguins, a leader in 24-hour and 7-day volume, saw a 17.3% drop. Its floor price fell to 10.32 Ether (ETH). BAYC also shed 14.7%, reaching 9.59 ETH. Doodles recorded one of the sharpest corrections, dropping 18.9% to 0.73 ETH. Other major collections, including Moonbirds and Lil Pudgys, experienced declines of 10.5% and 14.6% respectively.

The drop in NFT floor prices directly followed a sharp ETH retracement. On Monday, CoinGecko data showed ETH hitting a new all-time high of $4,946. However, ETH dropped 12% on Tuesday, settling at $4,342. It recovered slightly later. At the time of writing, the crypto asset traded at $4,433. These movements underscore the strong correlation between Ether’s performance and the broader NFT market.

Gemini’s Strategic Leap with XRP Mastercard

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, achieved a significant milestone. It surpassed Coinbase in the app store charts. This surge followed the launch of an XRP-rewards credit card. The card is a collaboration with Ripple Labs and Mastercard. This innovative product quickly captured user attention.

Gemini announced the card on Monday via an X post. They stated, ‘This limited edition metal card gives up to 4% back in XRP instantly. No waiting, just stacking.’ This immediate rewards system appeals strongly to crypto enthusiasts. On August 6, Gemini ranked 117th in the finance category. Coinbase, conversely, sat at 26th. However, the new card dramatically altered these positions.

Sensor Tower data confirmed Gemini’s rapid ascent. Gemini overtook Coinbase in the US finance category rankings after the announcement. At the time of publication, Gemini held 16th place. Coinbase dropped to 20th. Tyler Winklevoss, Gemini’s co-founder, remarked on X, ‘The flippening is accelerating.’ This event is particularly noteworthy. Coinbase typically boasts over three times the daily trading volume of Gemini, according to recent Messari data. The success of the **Gemini XRP** Mastercard demonstrates the power of innovative product offerings in the competitive crypto exchange landscape.

Navigating Cryptocurrency Trends and Market Shifts

Today’s events highlight the dynamic and often unpredictable nature of the crypto market. From political endorsements influencing prediction platforms to the ebb and flow of NFT valuations, the sector remains in constant motion. The introduction of new financial products, like the **Gemini XRP** Mastercard, also demonstrates ongoing innovation and competition among exchanges. These factors collectively shape broader **cryptocurrency trends**.

Investors and enthusiasts must stay vigilant. Market sentiment can shift quickly. Regulatory actions, technological advancements, and new partnerships continually redefine the landscape. The developments surrounding Polymarket, the **NFT market decline**, and Gemini’s strategic product launch all contribute to a complex yet fascinating ecosystem. Observing these daily changes helps in understanding the market’s trajectory. Ultimately, continuous learning and adaptation are key to navigating the exciting world of digital assets effectively.