BTC is developing a bullish trend

Hot projects + Market overview

I. Mainstream exchange news

• Coinbase has added three board members, including a high-ranking executive at OpenAI.
• Coinbase International will enable perpetual futures trading for Dymension (DYM), Maker (MKR), and Aave (AAVE).

II. Mainstream projects and trending events

• Liquidity restaking protocol Renzo has proposed allocating 500 million REZ tokens for community incentives over the next five months.
• US New Jersey Jersey City Mayor Steven Fulop has announced plans to invest a portion of the city's pension fund into Bitcoin ETFs.
• US presidential candidate Robert F. Kennedy Jr. has said that if he gets elected, he will advocate for the federal government to purchase $615 billion in Bitcoin, aligning its reserves with gold.
• Robert Mitchnick, Head of Digital Assets at  BlackRock, stated at the Bitcoin 2024 conference that BTC and ETH are not competitors but complementary assets, noting that customers who purchase ETH ETFs typically increase their overall crypto holdings rather than selling their BTC.
• Vice President Kamala Harris said she is ready for a debate with presidential candidate Donald Trump on September 10. The crypto sector is expected to be a hot topic.
• Solana DEX aggregator Jupiter has released an ecosystem token API and standards.
• Blockchain game Illuvium will launch its mainnet on July 26.
• The Jito Foundation has announced the launch of a new infrastructure platform, Jito Restaking.
• Wenia, a digital asset company under the Colombian banking group, has integrated Chainlink to provide transparency for the underlying assets of its COPW stablecoin.

III. Funding news

• DePIN project Multiple Network has completed a $2 million seed funding round.
• On-chain order book exchange Kuru has raised $2 million in a seed funding round, led by Electric Capital.
• OKX Ventures has invested in Monad Network's MEV-supported liquid staking platform aPriori.
• Liquid staking protocol Kintsu has raised $4 million in seed funding, with participation from Animoca Ventures.
• Web3 community platform OpenSocial Protocol has completed a $6 million strategic funding round, led by Framework Ventures.
  

IV. Regulatory news

• Crypto-friendly bank Revolut has obtained a UK banking license.
• India will announce its stance on crypto policy by September after consulting with stakeholders.
• Deutsche Telekom plans to expand its Web3 services to the XDC network.

V. Popular projects 

Market overview

BTC hit a low of $63,456 in the last 24 hours, down 7.3% from a recent high of $68,474, and then rebounded. 

The expected resistance level for the rebound is $68,500, with a strong rebound potentially reaching $71,546. 

BTC's moving averages indicate a nascent bullish alignment, warranting close attention to its future trajectory.

US BTC Spot ETF Updates - July 25

Overall Data:

Total Net Inflows: $17.54 billion

Daily Net Inflows: $31.56 million

Single-Day Turnover: over $1.51 billion

Proportion of BTC’s Market Value: 4.59%

Breakdown by ETF:

GBTC:

Net Asset Value: $17.5 billion (-0.23%)

Single-Day Net Outflows: $39.59 million

Cumulative Net Outflows: $18.79 billion

Single-Day Turnover: $228 million

FBTC:

Net Asset Value: $11.72 billion (0%)

Single-Day Net Inflows: $0

Cumulative Net Inflows: $9.99 billion

Single-Day Turnover: $270 million

BITB:

Net Asset Value: $2.51 billion (0%)

Single-Day Net Inflows: $0

Cumulative Net Inflows: $2.09 billion

Single-Day Turnover: $72.15 million

ETH Spot ETF Updates - July 25

Overall Data:

Total Net Outflows: $178.68 million 

Daily Net Outflows: $152.3 million

Single-Day Turnover: $955 million

Proportion of ETH’s Market Value: 2.36%

Breakdown by ETF:

ETHE:

Net Asset Value: $7.12 billion (-4.64%)

Single-Day Net Outflows: $346 million

Cumulative Net Outflows: $1.16 billion

Single-Day Turnover: $507 million

ETHW:

Net Asset Value: $229 million (+7.69%)

Single-Day Net Inflows: $16.34 million

Cumulative Net Inflows: $250 million

Single-Day Turnover: $29.50 million

FETH:

Net Asset Value: $170 million (+25.29%)

Single-Day Net Inflows: $34.32 million

Cumulative Net Inflows: $180 million

Single-Day Turnover: $78.40 million

MUMU is up 97%

MUMU, a memecoin featuring a bull, has surged 97% in a day.

The MUMU token has reached a market cap of $166 million, with on-chain liquidity of $3.03 million.

SATS is up 22%

SATS, a BRC-20 token that pays homage to Satoshi, has seen a 22% increase in the past 24 hours. 

As a notable token already listed on exchanges, the sustainability of SATS' rise warrants close attention. 

The market cap of SATS is $696 million, with a 24-hour trading volume of $130 million.

SLND is up 30%

The price of Solend (SLND) has surged 30% in the last 24 hours following its announcement of rebranding to Save and the launch of three new products.

This rebranding and the introduction of new products have significantly increased market attention, with expectations of more projects adopting similar strategies.

On-chain Daily

1. PC (Playable Coin): PC is a memecoin on the Ethereum chain, with the slogan, "We heard that 95% of the world are NPCs who follow all commands and narratives. So, who are the remaining 5%? Escape the matrix, join the PC movement."

Current Price: $0.006951

Historical High: $0.008891

24-Hour Change: +113%

Current Market Value: $6.9M

Official Twitter: https://x.com/Playablecoin

2. BAR (Gold Standard): BAR stands for Gold Standard, with a logo featuring Ethereum's symbol inscribed on gold. It uses a deflationary bonding curve, with a total supply of 999,999, a reserve supply of 77,700 (7.77%), and a circulating supply of 922,299. The details of the deflationary bonding curve have yet to be announced.

Current Price: $3.8

Historical High: $3.8

24-Hour Change: +92.9%

Current Market Value: $3.5M

Official Twitter: https://x.com/GOLDSTANDARDETH

3. Linken: Linken is a political memecoin on the Solana chain, named as a play on Abraham Lincoln. The concept reflects the American desire for Lincoln's god-like return to save the nation, contrasting with the perceived antics of Trump and Biden.

Current Price: $0.0153

Market Value: $1.5M

Liquidity: $2.6M

24-Hour Change: +28.32%

Official Twitter: https://x.com/Linken_SOL

4. WOLF: WOLF is a memecoin on the Solana chain, derived from the character Landwolf in Matt Furie's Boy’s Club comic. The character is depicted as a degenerate who loves pizza, marijuana, and green candles.

Current Price: $0.01383

Market Value: $137M

24-Hour Change: +37.1%

Historical High (1 month ago): $0.02353

Official Twitter: https://x.com/TheBoysClubWolf

5. MIGGLES: MIGGLES is a memecoin on the Base chain, claiming to be the mascot of Coinbase. It is not officially related to Coinbase or Base but is one of the few fundamentally sound memecoins on Base.

Current Price: $0.09033

24-Hour Change: +23.46%

Market Value: $86.6M

Official Twitter: https://x.com/MrMigglesOnBase

6. TIMI: TIMI is a memecoin featuring a green dinosaur wearing a Coinbase logo outfit, holding a flag with the Coinbase logo, and perched on the bald head of Coinbase CEO Brian Armstrong.

Current Price: $0.004223

Market Value: $3.9M

24-Hour Change: +11.98%

Official Twitter: https://x.com/ThisIsMyIguana

Daily Rune Observation

Gas Fee Change:

The current BTC transaction fee is 4 satoshis/byte, remaining low regardless of price fluctuations, and has been consistently low for the past two weeks.

Today's Popular Projects:

1. BRIDGE•OP•CAT•RUNES

Fully Minted

Market Value: $308K

24-Hour Trading Volume: $9,214

24-Hour Change: +33%

Holding Addresses: 1,081

2. RUNES•X•BITCOIN

Fully Minted

Market Value: $14.6M

24-Hour Trading Volume: $42,225

24-Hour Change: +27%

Holding Addresses: 105,385

3. NICOLAS•PI•RUNES

Fully Minted

Market Value: $5.4M

24-Hour Trading Volume: $125,591

24-Hour Change: +12%

Holding Addresses: 9,151

Top Rune Projects Tracking:

1. DOG•GO•TO•THE•MOON: Rune #3, airdrop Runes of Runestone

Current Price: 6.16 Sats

24-Hour Change: +6.2%

Current Market Value: 6,160 BTC

2. BAMK•OF•NAKAMOTO•DOLLAR: Synthetic dollar protocol on Bitcoin L1

Current Price: 6.5 Sats

24-Hour Change: -12.7%

Current Market Value: 1,360 BTC

3. RSIC•GENESIS•RUNE: Rune #8, from RSIC inscription mining project

Current Price: 5.45 Sats

24-Hour Change: 0%

Current Market Value: 1,140 BTC

Performances of Today's Top Three Tracks

Meme Sector: An overall daily increase of 4.9%

Top Gainers:

1. Mumu: MUMU is a memecoin on the Solana chain. Mumu serves as a bullish mascot, representing the opposite of Bobo Bear (a bearish meme).

   - Daily Increase: 100%

   - Current Price: $0.000071

   - Market Cap: $167M

   - 24-Hour Trading Volume: $58M

2. Miggles: Miggles is a memecoin on the Base chain. It claims to be Coinbase’s mascot meme coin, although it is not officially affiliated with Coinbase or Base.

   - Daily Increase: 27%

   - Current Price: $0.088

   - Market Cap: $85M

   - 24-Hour Trading Volume: $22M

3. SATS: SATS is a BRC-20 token honoring Satoshi Nakamoto, the smallest unit of Bitcoin (1 satoshi = 0.00000001 BTC). This meme token has been recently adopted as the gas token for BTC L2 announced by Fractal Bitcoin.

   - Daily Increase: 24%

   - Current Price: $0.0000336

   - Market Cap: $706M

   - 24-Hour Trading Volume: $125M

DeFi Sector: An overall daily increase of 3.2%

Top Gainers:

1. CVP: PowerPool Concentrated Voting Power is a protocol that facilitates the pooling, lending, and borrowing of governance tokens on Ethereum to earn income and accumulate governance power.

   - Daily Increase: 130%

   - Current Price: $0.52

   - Market Cap: $16.8M

   - 24-Hour Trading Volume: $118M

2. BOND: Its first application, SMART Yield, offers fixed and leveraged variable yields on stablecoins deposited in lending markets like Aave and Compound. Its second application, SMART Exposure, manages user positions between any two ERC-20 assets at a set ratio.

   - Daily Increase: 44%

   - Current Price: $2.15

   - Market Cap: $20.8M

   - 24-Hour Trading Volume: $2M

3. HARD: KAVA Lend is a decentralized money market on the Kava platform enabling cross-chain asset lending and borrowing.

   - Daily Increase: 28%

   - Current Price: $0.107

   - Market Cap: $14.5M

   - 24-Hour Trading Volume: $20.7M

Layer 2 Sector: An overall daily increase of 2.8%

Top Gainers:

1. STX: Stacks is Bitcoin’s Layer 2 solution, enabling smart contracts and DApps on Bitcoin without altering its core, leveraging Bitcoin’s security and stability.

   - Daily Increase: 10.7%

   - Current Price: $1.85

   - Market Cap: $2.74B

   - 24-Hour Trading Volume: $65M

2. MERL: Merlin is an innovative L2 designed for Bitcoin, enhancing scalability and efficiency while maintaining the primary Bitcoin network’s security measures.

   - Daily Increase: 7%

   - Current Price: $0.27

   - Market Cap: $98M

   - 24-Hour Trading Volume: $29.7M

3. TT (ThunderCore): ThunderCore is an EVM-compatible blockchain with its native currency, Thunder Token, founded by Chris Wang in Silicon Valley in 2017.

   - Daily Increase: 6.9%

   - Current Price: $0.0036

   - Market Cap: $39.4M

   - 24-Hour Trading Volume: $10M

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