Today's News Overview

Regulation and Macroeconomics

A Hong Kong-listed company announced the establishment of a new division to accelerate the layout of Web3 and RWA-related businesses. This division will coordinate all Web3 and cryptocurrency-related operations of the company, including mainstream cryptocurrency asset management and equity investment management. The company plans to increase investment in areas such as cryptocurrency asset allocation, Web3 project incubation, content ecosystem development, and international cooperation. The latest data shows that the company's stock price has risen by 25.5% within 24 hours.

Another Hong Kong-listed company announced that it plans to place a maximum of 20 million shares, expecting to raise a net amount of HKD 746 million. The funds will be used to develop on-chain financial resources, invest in RWA underlying assets, digital asset exchanges, digital asset trust banks, and stablecoin operators, among others. The company will also lay out digital asset services and build the underlying infrastructure for related trading and asset management.

The first approved Bitcoin ETF product in Hong Kong will officially be listed on the Hong Kong Stock Exchange on July 18. This ETF closely tracks the price of Bitcoin, allowing investors to trade through cash or physical redemption methods, providing local investors with a new compliant digital asset investment tool.

The latest disclosure from the SEC shows that a well-known technology entrepreneur holds 5,094,000 shares of common stock in a certain publicly traded company through related entities, accounting for 9.1% of the company's outstanding shares. The company previously disclosed that it holds approximately 163,100 ETH, valued at over $500 million.

The U.S. House of Representatives plans to conduct a new round of procedural voting tomorrow around 12:20 PM local time. If the vote passes, it will then move on to the debate and final voting stage.

The UK government has released a digital strategy for the wholesale financial market, clearly supporting the application of distributed ledger technology and asset tokenization in the wholesale financial sector. The government will promote the industry's identification of the best application scenarios for DLT, support the tokenization of financial assets and the digitalization of post-trade processes, and test various digital payment solutions, including stablecoins, through a "digital securities sandbox."

Market Viewpoint

A partner at an investment firm believes that after Bitcoin breaks $123,000, altcoins may experience a 1 to 2 month window for a rebound. He expects Bitcoin to challenge the $150,000 mark. The individual reviewed Bitcoin's performance following several key breakthroughs in the past, noting that after each major surge, altcoins typically have a rapid appreciation opportunity of 3 to 5 weeks. He advises investors to pay attention to payment tokens, large-cap coins, and emerging projects, while remaining cautious to avoid blindly chasing gains.

The founder of a well-known cryptocurrency exchange stated in a post that "Ether Season" has arrived, and the DeFi and NFT markets are expected to benefit and usher in a new round of development. He also changed his social media avatar to a CryptoPunk, expressing optimism for the Ethereum ecosystem.

Project Updates

A trading platform has launched a new airdrop project Caldera (ERA). Users can obtain ERA airdrop allocations by subscribing through specific products within a designated time frame, with a total amount of 20 million ERA, accounting for 2% of the maximum supply. ERA will be listed for trading on July 17, supporting multiple trading pairs. The total supply of the ERA genesis token is 1 billion, with a circulating supply of 148.5 million ERA.

A large payment platform has updated its cryptocurrency service terms, explicitly supporting the issuance and use of its stablecoin PYUSD on the Arbitrum, Ethereum, and Solana networks. PYUSD is issued by a third-party organization and is fully backed by U.S. dollars and highly liquid assets, with a fixed price of 1 dollar.

The Hyperion platform has released its tokenomics, which includes two types of tokens: RION and xRION. RION is a transferable utility token, while xRION is a non-transferable governance token. In the distribution of RION, liquidity incentives account for 30%.

On-chain data shows that Pump.Fun has allegedly transferred 98,000 SOL to the buyback address, worth approximately $16 million. Earlier, there were market rumors that the project had initiated its first round of token buybacks.

Important Data

According to on-chain monitoring, a certain institution sold 48,946 ETH (approximately $151 million) today to repay its loans on a lending platform. This institution had previously purchased a total of 184,115 ETH between February 26 and June 20, with a total cost of approximately $390 million and an average purchase price of about $2,118.

Data shows that Bitcoin spot ETFs saw a net inflow of $403 million yesterday, marking the 9th consecutive day of net inflows. The current 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 reached $14.218 billion, accounting for 3.87% of the Ethereum market capitalization.

According to reports, a large whale/institutional account has reduced its holdings by 15,000 ETH (approximately $46 million) through a certain market maker in the past 8 hours. This account purchased 132,000 ETH at an average price of $2,540 from June 11 to 22, and began to take profits in batches starting July 9. So far, it has realized profits of $21.17 million and still holds 45,000 ETH.

Institutional Dynamics

A certain cryptocurrency game company announced that since launching its ETH strategy on June 13, its ETH Concentration indicator has increased from 2.00 to 2.46, a growth of 23%. This indicator measures the Ethereum backing value behind every 1,000 shares of the company's stock. The company stated that there is still approximately $257 million in funds available for subsequent ETH acquisitions.

According to reports from British media, a financial services company is in late-stage negotiations with early Bitcoin supporters regarding a Bitcoin acquisition deal worth over $4 billion. The deal involves a SPAC company that plans to acquire more than 30,000 Bitcoins and further increase its holdings of digital currency through external financing.