Crypto Assets Industry News

Important News

A certain trading platform plans to launch a Bitcoin ETF in Hong Kong on July 18, becoming the first product of its kind this year. The ETF will closely track the price of Bitcoin, and investors can subscribe and redeem through cash or physical means.

PayPal co-founder Peter Thiel holds a 9.1% stake in BitMine through related entities. BitMine recently disclosed that it holds approximately 163,100 ETH, valued at over $500 million.

The U.S. House of Representatives will hold a crucial procedural vote tomorrow at 12:20 PM (Eastern Time). If approved, it will move into the debate and final voting phase.

The UK government has released a digital strategy for wholesale financial markets, supporting the application of distributed ledger technology ( DLT ) and asset tokenization in the financial sector. The government will promote the industry's identification of the best application scenarios for DLT and support asset tokenization and the digitization of post-trade processes.

Market Viewpoint

A partner at an investment firm stated that after Bitcoin breaks $123,000, altcoins may have a 1-2 month opportunity for catch-up growth. He expects Bitcoin to challenge the $150,000 mark. Payment tokens like XRP and XLM have started to rise, while large-cap coins such as BNB, LINK, and ADA remain at low levels, potentially becoming the next target for capital rotation.

The founder of a trading platform believes that "Ethereum Season" has arrived, and the DeFi and NFT markets are expected to benefit and welcome a new round of development. He also changed his social media avatar to a CryptoPunk, showcasing his optimism for the Ethereum ecosystem.

Project Dynamics

A trading platform announced the launch of the 27th airdrop project Caldera (ERA). Users can receive ERA airdrops by purchasing coin products through BNB within the specified time. ERA trading will go live on July 17, supporting various trading pairs.

A certain payment platform has updated its Crypto Assets service terms, clearly supporting the issuance and use of the PYUSD stablecoin on the Arbitrum, Ethereum, and Solana networks. PYUSD is issued by Paxos and is fully backed by USD and other high liquidity assets.

Hyperion announced the RION token economics: airdrops account for 5%, liquidity incentives account for 30%. RION is the platform's native transferable utility coin, while xRION is the non-transferable governance coin.

Market Data

The Bitcoin spot ETF saw a net inflow of $403 million yesterday, recording a net inflow for the 9th consecutive day. The total net asset value of the ETF is $149.657 billion, accounting for 6.46% of Bitcoin's market value.

The Ethereum spot ETF saw a net inflow of $192 million yesterday, marking the 8th consecutive day of net inflows. The total net asset value of the ETH spot ETF has reached $14.218 billion, accounting for 3.87% of Ethereum's market capitalization.

A certain institutional investor has reduced its holdings by 15,000 coins of ETH (approximately 46 million USD) through the exchange in the past 8 hours. This institution began buying ETH in batches since mid-June and has realized a profit of 21.17 million USD, still holding 45,000 coins of ETH.

Institutional Dynamics

SharpLink Gaming announced that its ETH Concentration metric has increased from 2.00 to 2.46, a growth of 23%. The company currently has approximately $257 million in funds available for subsequent ETH acquisitions.

According to reports, a financial institution is negotiating a Bitcoin acquisition deal worth over $4 billion with early Bitcoin supporters. The deal plans to acquire more than 30,000 coins and may further increase holdings through external financing.