BTC has indicated a potential upward trend towards $66,000
Hot projects + Market overview
I. Mainstream exchange news
- Binance users grew to 210 million, with institutional registrations up by over 36% in H1 2024.
- OKX Web3 Wallet has launched tools for splitting and merging Runes assets.
II. Mainstream projects and trending events
- Alpha Vault, an activity of Solana project SEND, has concluded with total deposits exceeding 720,000 SOL.
- SHIB plans to transfer project control to the community by the end of 2024.
- The odds of Donald Trump winning the presidential election, according to the decentralized prediction platform Polymarket, have surged to 70%.
- FTX, a bankrupt cryptocurrency exchange, has reached a tentative $4 billion settlement with the US Commodity Futures Trading Commission (CFTC).
- Stacks, a Bitcoin Layer 2 network, has completed the code for its Nakamoto upgrade to enhance the network functionality and security.
- BlackRock, Securitize, and Ondo Finance are interested in participating in MakerDAO's $1 billion treasury tokenization program.
- The Japanese subsidiary of Phillip Securities and BlackRock-backed Securitize are collaborating to issue securitized tokens for Sony's new movie.
- The US SEC has dropped its investigation into blockchain software developer Hiro Systems.
- Perp aggregator Rage Trade will issue RAGE tokens on the Layer 1 blockchain Hyperliquid.
- MakerDAO has launched the Spark Tokenization Grand Prix, a competition aimed at tokenizing $1 billion in real-world assets (RWA).
III. Funding news
- XYRO, a gamified social trading platform, has received a strategic investment from Animoca Brands.
- ZAP, a token distribution protocol, has raised a total of $15.1 million at a $100 million valuation.
- Tapi, an Argentine fintech company, has raised $20 million in a Series A funding round, with investment from a16z.
- Aidatify, an all-chain DEX data AI aggregator, has completed an $8.3 million funding round, valuing the company at $150 million.
IV. Regulatory news
- South Korea is considering delaying the taxation of gains from cryptocurrency investments.
- Crypto advocates in Nigeria suggest regulating Bitcoin and Ethereum as commodities.
- Russia's Finance Ministry has proposed allowing qualified investors to conduct limited cryptocurrency transactions.
V. Popular projects
Market overview
After surpassing the $59,650 level, BTC appears to be forming a leading wedge pattern, suggesting a potential upward target of $66,000.
This week, the decision on the ETH ETF is expected, with approval likely. ETH has rebounded 18% from its low, targeting $3,405 if the ETH ETF is approved. In this case, the SOL ETF is also expected to attract significant trader attention.
US BTC Spot ETF Updates - July 12
Overall Data:
Total Net Inflows: $15.81 billion
Daily Net Inflows: $310 million
Single-Day Turnover: over $1.15 billion
Proportion of BTC’s Market Value: 4.52%
Breakdown by ETF:
GBTC:
Net Asset Value: $15.73 billion (+0.14%)
Single-Day Net Inflows: $23.01 million
Cumulative Net Outflows: $18.64 billion
Single-Day Turnover: $149 million
IBIT:
Net Asset Value: $18.32 billion (+0.65%)
Single-Day Net Inflows: $120 million
Cumulative Net Inflows: $18.26 billion
Single-Day Turnover: $559 million
FBTC:
Net Asset Value: $10.24 billion (+1.13%)
Single-Day Net Inflows: $115 million
Cumulative Net Inflows: $9.72 billion
Single-Day Turnover: $213 million
ARKB:
Net Asset Value: $2.77 billion (+0.47%)
Single-Day Net Inflows: $13.02 million
Cumulative Net Inflows: $2.5 billion
Single-Day Turnover: $98.68 million
SEND has raised over 720,000 SOL
Solana Blinks ecosystem meme project SEND has recently completed its Alpha Vault deposits, with total deposits exceeding 720,000 SOL, far surpassing the cap of 999 SOL by over 700 times.
SEND has a total supply of 1 billion tokens, with 25% allocated for airdrops to Blinks’ builders, Send it NFT holders, and top Solana communities.
Memecoin Ecosystem
The market rebound has led to a quick rise in leading memecoins. In the ETH ecosystem, notable tokens gaining attention include WOJAK, ANDY, and WOLF, all related to PEPE, as well as MOG, a leading cat-themed memecoin yet to be listed on Binance.
In the Solana ecosystem, notable tokens include MICHI, BILLY, and POPCAT.
RWA Ecosystem
MakerDAO has launched the Spark Tokenization Grand Prix, to tokenize $1 billion in real-world assets (RWA). This initiative has attracted interest from issuers such as BlackRock's BUIDL and Ondo Finance.
If the US SEC approves an ETH ETF application, which is expected to happen this week, BlackRock is expected to accelerate its asset tokenization efforts. Notable tokens gaining attention include MKR, ONDO, TOKEN, GFI, and CFG.
Significant token unlocks this week
This week, tokens worth over $170 million are set for unlockings, including:
Arbitrum (ARB) is set to unlock approximately 92.65 million tokens on July 16th, representing 2.87% of the current circulating supply, valued at about $65 million.
Starknet (STRK) will unlock around 64 million tokens on July 15th, accounting for 4.92% of the current circulating supply, valued at approximately $35.6 million.
Optimism (OP) is scheduled to unlock roughly 10 million tokens on July 15th, representing 0.89% of the current circulating supply, valued at around $17 million.
Axie Infinity (AXS) will unlock about 2.45 million tokens on July 16th, representing 1.66% of the current circulating supply, valued at approximately $13.4 million.
Pixels (PIXEL) will unlock approximately 54.38 million tokens on July 19th, representing 7.05% of the current circulating supply, valued at about $10.1 million.
On-chain Daily
1. Fight: Fight is a memecoin on the Ethereum chain, themed around an incident where US presidential candidate Donald Trump was shot during a campaign rally in Pennsylvania. After being hit in the right ear, he stood up and shouted "FIGHT" three times, which became the token's inspiration.
Current Price: $0.009
Historical High: $0.0136
24-Hour Change: +676%
Current Market Value: $9M
Official Twitter: https://x.com/Fight2Maga](https://x.com/Fight2Maga
2. MAPE: MAPE is a variant of Pepe, combined with the MAGA (Make America Great Again) concept to support Trump.
Current Price: $0.0(5)651
Historical High: $0.0(4)103
24-Hour Change: +40107%
Current Market Value: $2.7M
Official Twitter: https://x.com/MapeOnEth](https://x.com/MapeOnEth
3. FIGHT: FIGHT is a memecoin on the Solana chain, themed around Donald Trump's shooting incident.
Current Price: $0.01
Historical High: $0.013
24-Hour Change: +383%
Current Market Value: $10M
Official Twitter: https://x.com/fightcoin_sol](https://x.com/fightcoin_sol
4. LANDLORD: LANDLORD is a memecoin on the Solana chain, representing the landlord of Pepe, Andy, and Landwolf.
Current Price: $0.00323
Historical High: $0.022
24-Hour Change: +46%
Current Market Value: $2.6M
Official Twitter: https://x.com/LandlordRonald](https://x.com/LandlordRonald
5. KENZO: KENZO is a memecoin on the Solana chain, themed around a Japanese bulldog. It's now taken over by the community (CTO).
Current Price: $0.000514
Historical High: $0.00103
6-Hour Change: +152% (Token Launch Time: 7/14, 20:15 UTC)
Current Market Value: $482K
Official Twitter: https://x.com/KENZOCTO](https://x.com/KENZOCTO
6. WEWE: WEWE is a memecoin on the Base chain, launched by Thorchain ($RUNE) founder @JPTHOR, to test the Vultisig ($VULT) multi-sig cross-chain vault protocol.
Current Price: $0.0(4)74
Historical High: $0.0(4)799
24-Hour Change: +38%
Current Market Value: $7.4M
Official Twitter: https://x.com/weweonbase](https://x.com/weweonbase
Daily Rune Observation
Gas Fee Change: The current BTC transaction fee is 5 bytes/satoshi, remaining low overall.
Today's Popular Projects
AMAZING•PYRAMID•NUMBER
Total pieces: 166,667
Reserved: 14%
Currently minted: 104,562
In memory pool: 300
Minting progress: 78%
Holding addresses: 13,504
THERE•IS•NO•SECOND•BEST
Minting: Completed
A popular project with a market value of $645K
24-hour trading volume: $1,620 (46% increase)
Holding addresses: 543
NIKOLA•TESLA•GOD
Minting: Completed
A popular project with a market value of $6.17M
24-hour trading volume: $21,860 (18% increase)
Holding addresses: 1,053
Top Rune Projects Tracking
DOG•GO•TO•THE•MOON: Rune #3, also known as the airdrop Runes of Runestone.
Current price: 7.7 Sats
24-hour change: +0.5%
Current Market Value: 7,740 BTC
BAMK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1.
Current price: 7.7 Sats
24-hour change: -2.5%
Current Market Value: 1,620 BTC
RSIC•GENESIS•RUNE: Rune #8, established by the prominent inscription mining project RSIC.
Current price: 6.8 Sats
24-hour change: +2.4%
Current Market Value: 1,430 BTC
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