Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A memecoin launched by Former New York City Mayor Eric Adams sparked controversy Monday after it pumped and dumped, inviting allegations of a rug pull. NYC Token’s Rollercoaster Ride The NYC Token (NYC) launched on the Solana (CRYPTO: SOL) blockchain to fight what Adams described as growing “antisemitism and anti-Americanism” in the country and in New York City. The memecoin started with a bang and swift ...

On Monday night, hours after announcing his “NYC Token” at a press conference in Times Square, former New York City Mayor Eric Adams launched his cryptocurrency. The purpose of the token was unclear—beyond a vague promise by Adams that it would combat antisemitism—but investors bought it up anyway, briefly sending its market cap to $600 million. Then it crashed. It didn’t take long for crypto observers to declare NYC Token had all the hallmarks of a dreaded rugpull—a common scam where someone launches a ...

Market Overview - The total cryptocurrency market capitalization has increased by approximately 1.7% over the past 24 hours, reaching around $3.22 trillion [1][7] - Total 24-hour trading volume is approximately $115.6 billion, indicating steady but restrained market activity compared to recent peaks [1] Major Cryptocurrencies Performance - Bitcoin (BTC) is trading near $92,169, up about 1.7% in the last 24 hours, contributing positively to the overall market [3][7] - Ethereum (ETH) has risen 0.7% to around $3,136, although it remains lower on a weekly basis [3][7] - Solana (SOL) has shown strong performance, climbing 3.0% to roughly $141.79 [3] - TRON (TRX) gained 2.3%, trading near $0.299, while BNB (BNB) posted a modest increase of 0.1% to around $908.50 [3] Underperformers - XRP (XRP) is the weakest performer, down 11.5% over the past week, trading near $2.06 [4] - Dogecoin (DOGE) has dropped 6.8% on the week to about $0.1396, and Cardano (ADA) is down 5.3%, currently priced near $0.393 [4] Notable Gainers - Monero (XMR) has surged more than 50% over the past week, trading around $671.61 [4] - Dash (DASH) has risen nearly 37% over the past week to approximately $51.08 [5] - Other top gainers include Pirate Chain (ARRR) and Dolomite (DOLO), both posting gains of more than 50% [5] Market Sentiment and Future Outlook - VanEck has declared 2026 a "risk-on" year for investors, highlighting clearer fiscal and monetary policy visibility [5][6][7] - The Fear & Greed Index currently stands at 41, indicating a neutral sentiment in the crypto market [7] - US BTC spot ETFs have seen net inflows of $116.67 million, bringing cumulative inflows to $56.52 billion, while US ETH spot ETFs posted modest inflows of $5.04 million [7]