Grayscale's decentralized AI fund announcement boosted AI token prices.

Hot projects + Market overview

I. Mainstream exchange news

• OKX will cease servicing Nigeria due to regulatory issues.
• Binance will launch the BNX/TRY and ETH/ARS spot trading pairs on July 18.
• OKX will delist the CEL, OMG, SPELL, APM, LHINU, POLS, and DCR spot trading pairs.

II. Mainstream projects and trending events

• ETF issuer Direxion has launched two ETFs, LMBO and REKT, tracking the performance of US crypto stocks.
• Cryptocurrency custody service provider Copper has obtained a Trust or Company Service Provider (TCSP) license in Hong Kong.
• Sei Foundation has launched a $50 million Japanese ecosystem fund focusing on Web3 gaming, social, and entertainment.
• The US SEC has given preliminary approval to Grayscale's Ethereum Mini Trust and ProShares Spot Ethereum ETF for trading on NYSE Arca. Issuers still need to wait for the final decision on their respective S-1 applications.
• Nine out of ten spot Ethereum ETFs have announced their fees, with BlackRock's fee at 0.25%.
• The TON Foundation has announced the upcoming launch of the Bitcoin network bridge, TON Teleport BTC.
• Grayscale announced the launch of a decentralized AI fund, leading to a significant rise in the prices of AI-related tokens.
• A CryptoQuant analyst reported that 36% of Mt. Gox's Bitcoin has been distributed to creditors.
• President of the Federal Reserve Bank of New York, John Williams hinted at an upcoming rate cut but clarified it would not happen in two weeks.
• XBTO, a platform for digital asset services, has established a tokenization team focusing on real-world assets.
• Decentralized prediction platform Polymarket has reached $118 million trading volume in July, setting a monthly record.
• MakerDAO has introduced the NewGovToken activation feature, with activators receiving 15% of all SPK token rewards.

III. Funding news

• AI company Anthropic has launched a $100 million AI fund called Anthology Fund.
• Owlto Finance, an intent-centric interoperability protocol, has completed a new funding round at a $150 million valuation, participated in by Matrixport.

IV. Regulatory news

• The Hong Kong Monetary Authority is processing "sandbox" applications for stablecoin issuers and will soon announce the participants. Issuers must maintain 100% reserves and cannot offer interest to fiat-backed stablecoin users through third parties.
• The Basel Committee has released the final disclosure framework for banks' crypto-asset exposures and targeted revisions to crypto-asset standards.
• Hong Kong regulators plan to establish a licensing regime for stablecoin companies.

V. Popular projects 

Market overview

BTC has encountered resistance near $66,000 and failed to break through. A short-term pullback is necessary to release buying pressure. 

Key levels to watch are $64,000 and $62,000. BTC holding above $64,000 would indicate stronger upward momentum, while it hovering between $62,000 and $64,000 would suggest normal momentum, and dropping below $62,000 would indicate weaker momentum. 

As long as BTC stays above $62,000, the overall uptrend remains intact.

US BTC Spot ETF Updates - July 17

Overall Data:

Total Net Inflows: $16.59 billion

Daily Net Intflows: $53.35 million

Single-Day Turnover: $1.79 billion

Proportion of BTC’s Market Value: 4.57%

Breakdown by ETF:

GBTC:

Net Asset Value: $17.57 billion (-0.31%)

Single-Day Net Outflows: $53.82 million

Cumulative Net Outflows: $18.69 billion

Single-Day Turnover: $189 million

FBTC:

Net Asset Value: $11.54 billion (+0.02%)

Single-Day Net Inflows: $2.83 million

Cumulative Net Inflows: $9.82 billion

Single-Day Turnover: $234 million

ARKB:

Net Asset Value: $3.23 billion (0%)

Single-Day Net Inflows: $0

Cumulative Net Inflows: $2.65 billion

Single-Day Turnover: $74.25 million

ALICE is up 26%  

My Neighbor Alice (ALICE), often described as the blockchain version of "Animal Crossing," is one of the first gaming tokens listed on Binance.

With the market heating up, funds are flowing into the GameFi sector. Early gaming tokens like ALICE, PIXEL, YGG, and GODS are gaining market attention.

PEIPEI is up 22%

PEIPEI, the Chinese version of Pepe, has reached a new all-time high. The token's market cap is $150 million, with over 31,000 holding addresses. It has on-chain liquidity of $3.72 million and a 24-hour trading volume of $75.5 million.

BANANA reaches all-time high

Bananagun (BANANA) is a Telegram trading bot offering unique snipe purchase features, allowing users to quickly buy newly launched tokens. 

As the usage of TG BOTs increases, Bananagun's annual revenue has reached $57.76 million, driving the token price to continuous new highs. 

The token reached a new all-time high of $60.32 on July 17, a 92-fold increase from its presale price of $0.65.

On-chain Daily

1. FEARNOT: On July 14, US presidential candidate Donald Trump was shot in the ear and subsequently posted on Truth Social, saying, "We Will Fear Not." This token was launched on July 16 as a tribute.

FEARNOT has fully locked liquidity. The current price is $0.00004109, with a market cap/FDV of $17.2M, and has surged over 140% in the past 24 hours, reaching a high of $0.00008973 yesterday.

Current Price: $0.0(4)4109

Historical High: $0.0(4)8973

24-Hour Change: +140%

Current Market Value: $17.2M

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

2. SWAG: SWAG is a memecoin featuring several celebrities, including Trump, with laser eyes.

Current Price: $0.09646

24-Hour Change: +60%

Current Market Value: $9.6M

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

3. Peipei: Peipei is the Chinese version of PEPE, characterized by its red body and a hat. It has shown strong performance today, hitting a new all-time high.

Current Price: $0.0(6)3565

Historical High: $0.0(6)3939

Current Market Value: $150M

Official Twitter: https://x.com/Peipeierc20

4. PEEP: PEEP is a memecoin on the Solana chain, featuring a brother living in the shadow of PEPE.

Current Price: $0.0001735

24-Hour Change: +84%

Current Market Value: $17.5M

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

5. MIGGLES: MIGGLES is a memecoin on the Base chain. It claims to be the mascot of Coinbase, though it is unrelated to Coinbase or Base. 

Current Price: $0.02263

24-Hour Change: +995%

Current Market Value: $21.6M

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

6. WEWE: WEWE is a memecoin on the Base chain, with the full name “Upside Down Meme”. It was launched by Thorchain ($RUNE) founder @JPTHOR to test Vultisig ($VULT).

Current Price: $0.0(4)6516

24-Hour Change: -4.42%

Current Market Value: $6.5M

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

Daily Rune Observation

Gas Fee Change: The current BTC transaction fee is 5 satoshis/byte, remaining low despite Bitcoin's price recovery.

Today's Popular Projects:

SPARKY•RUNEDOG

Rune #264, deployed 2 months ago, fully minted with a premine ratio of 2%. 

Current Price: 3.89 sats

24-Hour Change: +73.77%

Current Market Value: $2.51M

Holding Addresses: 1,102

TRUMP•FEAR•NOT

Rune #88312, deployed 2 days ago, with zero pre-mine, fully minted. 

Current Price: 0.11 sats

24-Hour Change: +89.6%

Current Market Value: $87,940

Holding Addresses: 598

AMAZING•PYRAMID•NUMBER

Rune #796, deployed 2 months ago, with a 14.286% premine, fully minted. There are 21 in the mempool. 

Current Price: 117 sats

24-Hour Change: +14.75%

Current Market Value: $75,000

Holding Addresses: 14,107

Related to Runecoin.

Top Rune Projects Tracking:

DOG•GO•TO•THE•MOON: Rune #3, also known as the airdrop Runes of Runestone.

Current Price: 6.54 Sats

24-Hour Change: -9.17%

Current Market Value: 6,540 BTC

BAMK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1.

Current Price: 8.5 Sats

24-Hour Change: +13.33%

Current Market Value: 1,790 BTC

RSIC•GENESIS•RUNE: Rune #8, established by the prominent inscription mining project RSIC.

Current Price: 6.448 Sats

24-Hour Change: -7.4%

Current Market Value: 1,350 BTC

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