Top News

1.Trump Family Crypto Project 'WLFI Token Tradable' Proposal Approved

2.Coinbase Announces Launch of 'Universal App' Base App to Replace Coinbase Wallet

3.Upexi CSO: Solana Is the 'Ultimate High-Performance Blockchain,' Upexi Will Not Use Excessive Leverage or Engage in On-Chain Speculative Activities

4.Yesterday's REX-Osprey SOL Spot ETF Net Flow Was 0

5.Kaito AI May Launch Project Launchpad

Articles & Threads

1. "ETH's Exchange of Power: From Retail Consensus to Wall Street Conspiracy?"

ETH at the beginning of the year was like a derailed high-speed train, soaring and then plummeting off a cliff. From the end of 2024 to April 2025, ETH's price dropped from $4000 to $1500, halving and halving again, underperforming BTC, SOL, and even lagging behind a bunch of meme coins. Just as retail investors lamented and key opinion leaders (KOLs) shorted, and institutions remained silent, a quieter, more covert script was unfolding backstage: a classic shakeout. When those who had once proudly waved the E-flag began to stop-loss and flee, the new buyers were no longer another group of retail investors but rather more silent, disciplined funds: as if a group of well-dressed Wall Streeters had entered. They didn't shout "long ETH" on social media, nor did they dramatically build positions; instead, they quietly entered through fundraising in U.S. small-cap companies, market-making accounts, and structured arbitrage funds. By the time everyone was asking "is this the bottom," the real accumulation had been completed. Looking back, the crash from $4000 to $1500 was not a signal of decline but more like a transfer of narrative power. Ethereum no longer belongs to the KOLs or speculators. But this time, are the new buyers really from Wall Street?

2.《'Stock Tokenization' Launches for Two Weeks: Heavy Speculation, Tracking Amazon Token Price is 4 Times Stock Price》

The blockchain technology is attempting to disrupt the traditional stock market, but reality is more complex than ideal. The start of tokenized stocks has not been smooth. Currently, digital tokens designed to track popular stocks such as Amazon and Apple have shown significant price deviations from the underlying stocks since their launch two weeks ago. Robinhood Markets is facing scrutiny from European regulators after previously launching a token allowing investors to bet on OpenAI without permission from the AI startup. According to The Wall Street Journal, industry insiders are concerned that these 'tokenized' stocks create opportunities for bad actors to engage in insider trading and market manipulation, and are difficult to detect. At the end of June, several cryptocurrency exchanges including Robinhood, Kraken, Gemini, and Bybit released blockchain-based versions of U.S. stocks and exchange-traded funds for non-U.S. customers. Cryptocurrency executives say this is a way for global investors to invest in popular securities like Tesla, NVIDIA, SPDR S&P 500 ETF, especially in countries where it is difficult to buy U.S. stocks through local brokers.

Market Data

Daily Marketwide Fund Heat (Reflected by Funding Rate) and Token Unlocks

Data Source: Coinglass, TokenUnlocks

Funding Rate

Token Unlocks

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