PurpleMistLily

Cointelegraph news: After Cardano founder Charles Hoskinson reached a partnership with Japanese financial giant SBI Holdings and the Solana Foundation, he responded to community questions. Many Cardano supporters were dissatisfied with why Japan would back a rival like Solana, especially since Japan contributed nearly 90% of the funding in Cardano’s early financing. Hoskinson said that commercial cooperation requires capital and clear authorization, and advised the community to use Cardano’s treasury to fund the organizations responsible for signing commercial agreements. Meanwhile, ADA fell 11.5% this week; its current price is about $0.1586, with a key resistance level at $0.1640 and a support level at $0.1427.

Coin Circle News reports that the hacker attacked Hedera’s Sauce protocol by manipulating price oracles, stealing more than $5 million. The attack caused the HBAR price to drop by nearly 3%. After quickly swapping multiple assets once the stolen funds were bridged to Ethereum via the LayerZero bridge, according to PeckShield data, the attacker borrowed nearly $6.6 million worth of USDC and 35 million HBAR, and used SauceSwap to perform token swaps. The attacker’s Ethereum wallet currently holds about 2,068 ETH worth nearly $3.7 million, along with 15.58 WBTC, bringing the total stolen assets to more than $5 million. The incident has raised security concerns about decentralized finance (DeFi) applications, and the Hedera network team has not yet released an official statement.

Biquan News: The Federal Security Service of Russia said it thwarted a terrorist attack using drones on a military airport in Rostov Oblast, Russia.

According to Cryptopolitan, FBI complaint data shows that about 1,200 people in Texas lost a total of $56.8 million to cryptocurrency kiosk scams last year, the highest in the nation and roughly twice that of Florida. Texas currently has no regulatory rules for crypto ATMs, and prosecutors and sheriffs are pushing state lawmakers to regulate or directly ban them. The Texas Financial Crime Intelligence Center says victims typically have only 36 to 48 hours to recover funds. The city of San Antonio has required all 193 kiosks to post bilingual warning signs in English and Spanish as of July 1, with violators facing fines of $100 to $500 per machine per day.

#GTBurns2.57MInQ2 🔥
GateToken (GT) Burns 2.57 Million Tokens in Q2 – What Does It Mean for Investors?
GateToken (GT), the native utility token of the Gate ecosystem, has completed another major quarterly burn.
During Q2, a total of 2.57 million GT tokens were permanently removed from circulation.
Token burns are one of the most closely watched events in the crypto market because they directly reduce the circulating supply.
Why is this important?
When a project burns tokens, those tokens are sent to an unrecoverable blockchain address, making them impossible to use again.
This creates scarcity. If demand remains the same or increases while supply decreases, the token can potentially gain value over time.
Key Highlights
2.57 Million GT Burned in Q2
- Millions of GT permanently removed from circulation.
- Reduced supply strengthens the tokenomics.
- Demonstrates Gate's long-term commitment to its ecosystem.
Bullish Signal
Many investors view regular token burns as a positive sign because they show the project is actively managing supply rather than allowing unlimited inflation.
Long-Term Impact
Lower circulating supply may support higher valuations if trading volume, adoption, and demand continue to grow.
What Traders Should Watch
Price reaction after the burn announcement.
Trading volume over the coming days.
Whale accumulation or distribution.
Overall crypto market sentiment, especially Bitcoin's trend.
Bullish Scenario
If the market remains positive and buying pressure increases, GT could benefit from:
- Higher investor confidence.
- Reduced selling pressure.
- Increased scarcity.
- Stronger long-term fundamentals.
Bearish Scenario
Even significant token burns don't guarantee immediate price increases. GT could still face pressure if:
- The overall crypto market declines.
- Bitcoin experiences a sharp correction.
- Investor sentiment weakens.
- Trading volume remains low.
Investor Takeaway
Token burns are generally considered healthy for a cryptocurrency's long-term economics, but they should always be evaluated alongside adoption, revenue, ecosystem growth, and market conditions. A burn alone is not a guarantee of future price appreciation.
Final Thoughts
The 2.57 million GT burn in Q2 is another milestone for the Gate ecosystem.
Whether this becomes a major catalyst for price growth will depend on demand, market momentum, and continued ecosystem expansion.
Smart investors should combine tokenomics with technical analysis and risk management before making investment decisions.

Wu stated that, according to SoSoValue data, during this trading week (Eastern Time June 29 to July 2), Bitcoin spot ETFs saw a net outflow of $527 million, marking a net outflow for 8 consecutive weeks. Ethereum spot ETFs saw a net outflow of $13.67 million, also a net outflow for 8 consecutive weeks. SOL spot ETFs saw a net inflow of $5.7467 million. XRP spot ETFs saw a net inflow of $17.19 million. HYPE spot ETFs saw a net inflow of $4.3157 million.

CoinWorld news, according to Bloomberg, dozens of financial institutions including Visa, Stripe, Mastercard, BlackRock, and Coinbase are preparing to launch the stablecoin OUSD, aiming to build institutional-grade on-chain payment infrastructure. OUSD operates under a consortium model, with participating institutions sharing reserve yields and revenue splits.

Gate.io news: OnchainLens reports that recently, a total of 4 wallets sold 37,598 ETH, with a total transaction value of $586,900 and an average price of $1,560. Of these, another 2 wallets sold 20,000 ETH, worth approximately $314,400.

CoinWorld news, the U.S. Commerce Department released data on Thursday showing that the U.S. May PCE price index annual rate recorded 4.1%, the first time it has exceeded 4.0% since April 2023. The conflict in the Middle East has pushed up energy prices, while consumers are also dealing with price increases triggered by Trump's massive import tariffs. The Federal Reserve left interest rates unchanged last week at the 3.50%-3.75% range, with updated quarterly projections indicating that policymakers expect to raise interest rates this year. Financial markets are betting on a rate hike as early as September, followed by another rate hike thereafter.

CryptoWorld News reports that, according to CryptoQuant, Bitcoin network activity has surged, and the share of small transactions below 0.01 BTC has reached 80%, up from 50% in 2023. This increase is mainly driven by Runes, Ordinals, and Inscriptions. OP_RETURN usage is close to its historical peak, indicating that activity has risen rather than value being the driver.

CryptoWorld News reports that Cointelegraph states that Anthropic CEO Dario Amodei calls for AI regulation similar to the aviation industry, emphasizing the need for safety testing and granting governments the authority to block the release of high-risk models.

CryptoWorld News reports that, according to Lookonchain data, more than 343,000 ETH—worth approximately $547 million—are nearing liquidation in decentralized finance (DeFi) protocols.

⬛ FORTUNE AI QUANT | $XPL
🔲 Directional Bias: Bearish
⚡ Spot Synthesis: Price shows a downward move while trading volume is weakening, indicating weakening spot demand; the mineable fundamental does not offset the negative price and volume trends.
🩸 Leverage Profile: Open interest remains elevated, yet the funding rate is negative, pointing to a leveraged environment where short‑side pressure is present; without additional liquidation or long‑short ratio data, the leverage stance leans bearish.
📉 Narrative Catalyst: The mineable tag does not appear to be driving the current volume profile, as the token’s activity is declining despite the narrative.

CryptoWorld News reports that at today’s AI Industry Application Conference, Tencent Cloud revealed that Tencent Cloud General Manager and TokenHub head Gao Hang disclosed that the TokenHub large model service platform has been online for 3 months, maintaining a monthly doubling growth trend, and that the current daily Token consumption has already exceeded 5 trillion.