BlockBeats will summarize the key industry news of the week (7.21-7.27) in this article and recommend in-depth articles to help readers better understand the market and grasp industry trends.

Important News Recap

This Week's Crypto Market Surge Followed by Correction: ETH Nears $4000, BNB Breaks $800 to Hit an All-Time High, Both Now Retracing

The recent crypto market has seen significant volatility, with a clear divergence between mainstream and altcoin trends. On July 21, Ethereum briefly broke through $3800 but fell below $3600 the next day, with a 1.70% decrease in 24 hours. On the 23rd, BNB showed strong performance, reaching $800, setting a new all-time high with a 3.92% daily increase. On the 25th, Bitcoin briefly dropped below $115,000 before a slight rebound. Meanwhile, altcoins continued to decline broadly, with SPK plunging over 32% in 24 hours, SAHARA dropping over 30%, and PENGU falling by more than 13%. Related Reading: "Ethereum Surges Towards $4000: What Happened?", "Multiple Altcoins Finally Hit New Highs, Is the Crypto Rally Sustainable?"

NFT Market Shows Slight Recovery, Blue-Chip NFTs like Taproot Wizards and Fat Penguins See Price Rises

On July 21, according to CoinGecko data, the 24-hour total NFT trading volume reached $31.085 million, a 195.1% increase. At the same time, the total NFT market cap exceeded $6 billion, with a 24-hour increase of 18.1%. Taproot Wizards saw a daily increase of over 30%, Node Monkeys rose by 28.2% in a day, and Fat Penguins recorded a daily increase of 15.6%. Related Reading: "Is the NFT Summer Back? Check Out What the Established Projects Are Up To", "Blue-Chip NFTs Rally Together, Is Market Confidence Truly Returning this Time?"

The "8,000 BTC Ancient Whale" Has Sold All Its Bitcoin, With a Market Value Exceeding $9 Billion

This week, an early BTC investor from the "Satoshi era" completed the sale of over 80,000 bitcoins through Galaxy Digital Inc., with a total value exceeding $9 billion at current market prices. This is also one of the largest nominal value Bitcoin transactions in cryptocurrency history, and these bitcoins are reportedly part of the investor's estate planning strategy. Since July 15, there has been activity in this ancient whale address, with 80,000 BTC being sold through Galaxy Digital's custody, likely through secondary market sales and OTC.

Ethereum Launches The Torch NFT to Celebrate Its Tenth Anniversary, Commemorative NFT Minting Open to All Users on July 30

On July 21, Ethereum launched "The Torch" NFT to honor those who have shaped its development and values in the first decade of Ethereum, contributing to the platform's future. In the 10 days leading up to Ethereum's tenth anniversary, this Torch NFT will symbolically pass between wallets. On July 30, The Torch NFT will be burned to commemorate Ethereum's tenth anniversary, and on that day, anyone can mint a commemorative NFT.

SEC Chairman: ETH Is Not a Security

On July 22, U.S. Securities and Exchange Commission Chairman Paul Atkins stated in an interview with CNBC that ETH is not a security. He also expressed his enthusiasm for seeing public companies adopt Bitcoin and cryptocurrency as part of their treasury reserve assets.

TRON Founder Justin Sun to Participate in Blue Origin's NS-34 Space Mission

On July 21, according to official sources, Blue Origin announced the list of six passengers for the NS-34 mission, including: Arvi Bahal, Gökhan Erdem, Deborah Martorell, Lionel Pitchford, J.D. Russell, and Justin Sun, who secured the first seat on New Shepard through a $28 million auction bid in 2021. The proceeds from this auction have been donated to 19 space-themed charitable organizations to inspire the next generation to engage in the STEAM (Science, Technology, Engineering, Arts, Mathematics) fields and drive the future of space living.

Coinbase Officially Launches Crypto Perpetual Contract Trading for U.S. Users This Week

On July 22, Coinbase announced that as of July 21, 2025, U.S. users could trade CFTC-regulated perpetual futures on the Coinbase Financial Markets platform, marking the debut of this globally largest traded derivative type on the platform. Coinbase stated that for years, U.S. cryptocurrency traders could only watch their international peers use one of the most popular tools in the digital asset market — perpetual futures. Due to a complex regulatory environment, U.S. traders have been unable to participate. However, this situation is about to change.

First White House Cryptocurrency Report to Be Released by End of This Month

On July 22, crypto journalist Eleanor Terrett posted an update stating, "White House officials tell me the White House cryptocurrency report will be made public before the end of this month." The report is expected to include regulatory and legislative recommendations, but the specific details are still unclear. This report is the result of months of collaboration by the working group led by David Sacks, Bo Hines, and high-level officials from the Treasury, Commerce Department, SEC, CFTC, and other departments, aimed at implementing the executive order signed by President Trump in January to strengthen the U.S.'s leadership in the cryptocurrency space. The working group's original tasks included developing a federal digital asset framework covering stablecoins (Congress has initiated related procedures) and exploring the establishment of a national digital asset reserve (established by Trump in March).

Overview of Institutional Ethereum Whale Holdings Changes in the Last 30 Days: Bitmine Holds 566,800 ETH Regaining the Top Spot

On July 25, according to Strategicethreserve data, the treasury companies and institutions with significant Ethereum holdings changes in the last 30 days are as follows: Bitmine Immersion Tech (BMNR) ranks first, currently holding 566,800 ETH, worth approximately $21.1 billion, with a 247.41% increase in holdings in the last 30 days; SharpLink Gaming (SBET) ranks second, currently holding 360,800 ETH, worth approximately $13.5 billion, with a 91.43% increase in holdings in the last 30 days; the Ethereum Foundation ranks third, holding 237,500 ETH, worth approximately $8.86 billion, with an 8.09% decrease in holdings in the last 30 days;

Tether Reveals Partial Investment Portfolio: Invested in Over 120 Companies, with a Focus on Bitcoin, Payments, and Other Areas

On July 23, Tether's CEO Paolo Ardoino stated that Tether has disclosed some of its investment/venture capital portfolio. Overall, Tether has invested in over 120 companies, and this number is expected to grow significantly in the coming months and years. The invested companies include Juventus, Bitdeer, Crystal Intelligence, Rumble, Shiga Digital, among others. These investments are funded from Tether's own profits (estimated at $13.7 billion by 2024) and do not involve the reserve assets of USDT (and other stablecoins), falling under Tether's investment division. The key areas of focus include payment infrastructure, renewable energy, Bitcoin, agriculture, artificial intelligence, and tokenization.

Trump Visits Fed Headquarters This Week, Personally Asks Powell for Rate Cut

On July 25, U.S. President Trump, during his visit to the Fed headquarters, participated in a media interview alongside Fed Chair Powell. When responding to how he had walked back his criticisms of Powell, Trump expressed his desire for a rate cut from Powell and stated he would watch the committee's rate decision. Trump also remarked, "Generally speaking, I would fire a project manager who went that far over budget." As Trump referenced renovation budget data for the Fed headquarters, Powell stood by, shaking his head. Trump also teased that renovating the building was a monumental task. Trump forcefully patted Powell on the back and said to him, "I hope he lowers the rate," to which Powell awkwardly chuckled. Related Reading: "Trump Gets Up Close and Personal at the Fed, Urging Rate Cut; Powell: Seen, Not Responded"

PolyMarket Acquires Small Derivatives Trading Platform QCX to Regain Legal Access to U.S. Market; Market Speculates It May Be Preparing for Token Issuance

On July 21, according to Bloomberg citing insiders, the cryptocurrency prediction platform PolyMarket is acquiring a small derivatives exchange called QCX. This move will enable PolyMarket to regain legal access to the U.S. market. The acquisition will officially reopen to U.S. users. Earlier this month, the U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC) concluded their investigation into PolyMarket. Insiders stated that PolyMarket will acquire QCX for $112 million. QCX applied for a license from the CFTC in 2022 and was only approved to operate on July 9 of this year. A PolyMarket spokesperson confirmed the acquisition. Related Reading: "A $100 Million Ticket, Prediction Giant 'Storms' Back to the U.S.", "Clearing Obstacles for Token Issuance? PolyMarket Splurges $112 Million to Acquire QCEX and Obtain Legal License"

Market speculation also suggests that the acquisition may indicate a token issuance plan. On July 23, sources claimed that PolyMarket is deciding whether to launch its custom stablecoin or enter into a revenue-sharing agreement with Circle based on the amount of USDC held on the platform. The source indicated that the motivation behind PolyMarket creating its own stablecoin is solely to have a reserve of earnings. A representative from PolyMarket stated that no decision has been made regarding the stablecoin issue. Related Reading: "Expected Losses, High Betting Threshold: Is the PolyMarket Airdrop Worth the Rush?"

StablecoinX to Invest $260 Million to Launch ENA Treasury Strategy, Plans to List on Nasdaq with Ticker Symbol "USDE"

On July 21, according to official sources, stablecoin issuer StablecoinX announced the completion of a $360 million financing round to acquire ENA tokens, with plans to list Class A common stock on the Nasdaq Global Market under the ticker symbol "USDE." The Ethena Foundation will contribute $60 million worth of ENA tokens. To kickstart the acquisition plan, StablecoinX will use the $260 million in net cash proceeds (after deducting relevant expenses) from the financing to purchase locked ENA tokens from a subsidiary of the Ethena Foundation. Starting today, a subsidiary of the Ethena Foundation (through a third-party market maker) will strategically acquire ENA tokens on public trading platforms using the full $260 million cash obtained from the token sale over the next few weeks, aligning the foundation's interests with StableCoinX shareholders. In response to this news, ENA experienced a temporary price spike of over 20% during the day.

Market News: Crypto Company BitGo Files IPO Application in the US

On July 21, according to market reports, long-standing cryptocurrency custody platform BitGo Holdings has confidentially submitted a registration statement draft to the U.S. Securities and Exchange Commission, planning an initial public offering (IPO) of Class A stock. Following stablecoin issuer Circle's listing on the New York Stock Exchange in June, this could be another significant cryptocurrency listing in the United States. Related Read: "IPO Wave Is Officially Here, Veteran Asset Management BitGo Secretly Submits IPO"

Approximately $26.4 Billion in ETH Queued to Exit Ethereum PoS Network as New Staking Demand Begins to Decline

On July 27, according to the Validator Queue Tracker website validatorqueue data, the current Ethereum PoS network exit queue has increased to 694,000 ETH, with a recent peak of 744,000 ETH, whereas this number was only 1,920 ETH on July 16, and there was no queue for exiting on July 15. Based on the current price, approximately $26.4 billion worth of ETH is exiting the PoS network, and the withdrawal delay has extended to 12 days and 1 hour. Meanwhile, after a recent phase of increase, the staking demand from new validators has reached a turning point. On July 17, there were 435,000 ETH queued to enter the network, but today the entry queue has dropped to 220,000 ETH, valued at approximately $8.36 billion, with a current queue time of 3 days and 20 hours. Andy Cronk, co-founder of staking service provider Figment, previously stated: "During price increases, people unstake and sell to lock in profits, and both retail and institutional participants have followed this pattern over multiple cycles." Related Read: "ETH Unstaking Queue Hits New High: Institutional Long vs. Short, How Will Retail Respond?" • "520K ETH Unstaking Underway, Can the Market Handle It?"

Analysis: pump.fun to Launch Trading Volume Incentive Plan with PUMP Token as Incentive; Pump.fun Co-founder States Airdrop Will Not Happen Immediately

On July 24, Pump.fun co-founder Alon stated in a livestream that "We are eager to reward the community that has been supporting our platform for the past year and a half. Our goal is to ensure that this airdrop activity goes smoothly and is meaningful. This will provide us with a great opportunity to strengthen our ecosystem, increase trading volume, and maintain activity over a longer period. This is crucial for rekindling interest and sparking new interest. Although the PUMP airdrop will not happen immediately, we will share the schedule and details as soon as possible." Related reading: "A Livestream that Completely Crashed pump.fun"

On July 27, according to the crypto research firm Dumpster DAO, "pump.fun may be preparing to launch a trading volume incentive plan lasting at least 30 days, with the reward token being PUMP. The official Pump SDK has recently been updated to support the incentive mechanism, adding an admin function to set incentive parameters including how much PUMP token is distributed daily. It has also introduced relevant methods for tracking user trading volume and claiming PUMP rewards. The current incentive scheme is based on a 30-day incentive period, but this mechanism can also be reused or extended if the team wishes. The IDL (Interface Description Language) of the Pump bonding curve program was also updated a few hours ago, indicating that trading volume based on the bonding curve may also be included in the incentive reward.

The total reward token amount for this incentive plan is currently unclear. In an updated SDK test version, it is set to distribute 10 billion PUMP tokens per day. However, this is only a test file, and at this rate, 3% of the total supply would be distributed in a month, which seems too high, and the actual distribution ratio may be adjusted. These changes have not yet been officially launched. However, given that Pump's trading volume has significantly declined compared to competitors such as BONK.fun, the team seems to be attempting to regain market share through the incentive plan."

BlockBeats Note: This news has not yet been officially confirmed by pump.fun and is only discovered by the community through SDK updates. More information awaits official disclosure.

FTX Next Round of Compensation Distribution Expected to Start Around September 30

On July 24, according to Reuters, FTX announced that for holders of the approved 5 classes of customer equity claims and 6 classes of general unsecured claims (definitions see the plan) as well as convenience claims that have been approved but not yet allocated since the previous record date, the registration date for the next distribution is expected to be August 15, 2025, and the next distribution is expected to start around September 30, 2025. The next distribution will be carried out by FTX's distribution service providers BitGo, Kraken, and Payoneer. FTX also announced that it has obtained bankruptcy court authorization to reduce the disputed claim reserve by $1.9 billion, from $6.5 billion to $4.3 billion, releasing cash to be distributed to approved creditors in the next distribution.

Sotheby's Subsidiary Establishes Cryptocurrency Real Estate Division

On July 25, according to The New York Times, Sotheby's International Realty, one of the largest luxury real estate brokerage firms in the United States, is establishing a dedicated department to allow buyers to purchase real estate using digital currency. This will be the first mainstream real estate brokerage firm to establish a dedicated team to handle transactions using purely cryptocurrency payments. The team consists of lawyers, analysts, and cryptocurrency experts, specifically responsible for transactions where both buyers and sellers rely solely on digital currency, without any dependence on banks. Aaron Kirman, CEO of Sotheby's Los Angeles subsidiary, stated that he is currently in talks with several major banks to facilitate the acceptance of cryptocurrency as a payment method for real estate transactions requiring financing. He expects that within five years, cryptocurrency transactions will account for over a third of the total U.S. residential real estate transaction volume. Related reading: "Sotheby's Opens Cryptocurrency Homebuying Channel, Wealthy Assets Enter 'Stealth Mode'"

Takashi Murakami to Release Collectible Trading Card NFT Series 108 Flowers Revised on Base Chain

On July 24, renowned contemporary artist Takashi Murakami announced on social media that his collectible trading card NFT series "108 Flowers Revised," inspired by physical art pieces, will officially launch during the Onchain Summer event. The series is now on-chain, and users can mint directly through the Base app. The minting will officially begin at 9 a.m. on August 1st Japan time. Related reading: "Takashi Murakami's New NFT Work to be Launched on Base, Will the Previous Work be Revived for Another Harvest?"

Tron Inc. Rings the Opening Bell at Nasdaq this Thursday

On July 24, Tron Inc. (Nasdaq: TRON), referred to herein as the "Company," a leading innovator at the intersection of blockchain, entertainment, and digital assets, rang the opening bell at the Nasdaq Stock Market. The ceremony took place at the Nasdaq MarketSite in Times Square, New York City, and was hosted by Justin Sun, founder of the TRON blockchain and global advisor to Tron Inc., marking an important step for the company towards next-generation technology and digital innovation.

Crypto Influencer Crypto Beast Exposed for Manipulating ALT Price Crash Event, Allegedly Cashing Out Over $11 Million

On July 22, crypto sleuth ZachXBT posted alleging that crypto KOL "Crypto Beast" had orchestrated and manipulated the ALT token from a $190 million market cap to $3 million event. On July 14, a large number of internal wallets rapidly sold over $11 million worth of $ALT, causing the price to plummet from $0.19 to $0.003. According to on-chain analysis, Crypto Beast had actively promoted ALT on Twitter and Telegram, sharing their public wallet address in posts (now deleted). Tracking through transaction time comparisons revealed that the address was directly linked to several side wallets transacting through Celestia, involving flows to multiple instant exchanges such as KuCoin and Binance. Over 45 wallets were associated with Crypto Beast, collectively dumping the token on July 14. Additionally, similar tactics were used in multiple projects, indicating potential involvement in rug-pulling multiple tokens such as ALPHA, RICH, YE, among others.

Hong Kong Customs Busts $1.15 Billion Money Laundering Case Involving Virtual Asset Trading and Cash Smuggling

On July 22, according to the Sing Tao Daily, Hong Kong Customs busted a case suspected of laundering black money through cash smuggling and virtual assets, involving approximately $1.15 billion HKD. One local man and one non-local man were arrested. Customs earlier targeted a 37-year-old local man and a 50-year-old non-local man based on intelligence and conducted a financial investigation. It was discovered that the two men were suspected of smuggling cash out of the country and frequently engaging in large-scale stablecoin and fiat currency transactions at a rapid pace, with untraceable fund sources, implicating money laundering. During the operation, Customs seized multiple phones, tablets, bank cards, and other items related to the case. The investigation is still ongoing, and the two men are currently on bail pending further inquiries, with the possibility of more arrests.

Chinese Hubei Court Sentences Virtual Currency Theft Case Perpetrator for Fraud Using Backdoor Code, Involving Approximately 77.76 Million RMB

On July 25, it was reported that in March 2025, Yunmeng County Court in Hubei Province issued a first-instance judgment on a major virtual currency fraud case, sentencing four individuals, including He, to three to thirteen years in prison for fraud and fines ranging from 20,000 to 300,000 RMB. Recently, the second-instance court rejected the appeal and upheld the original verdict. It is reported that He and others developed and launched a so-called "decentralized" virtual currency trading platform in 2020 and issued a complementary token called "D Coin." From October to November 2020, He and others manipulated the price of D Coin multiple times to create a frenzy, then forcibly swapped user assets for high-priced D Coins, transferred the virtual currency to personal accounts, and subsequently crashed the coin price, causing a significant loss of user assets that could not be withdrawn. It was found that the platform had defrauded a total of 103 investors, involving an amount equivalent to over 77.76 million RMB.

Top Funding This Week: Soluna, Poseidon, DSRV, Gaia, Lightyear

On July 22, according to reports, data center developer Soluna Holdings, Inc. (NASDAQ: SLNH) today announced the completion of its latest round of funding, with funds provided by Spring Lane Capital (SLC) to support the expansion of its Kati project in Texas to 35 megawatts and the official launch of the Kati 1 project.

On the 23rd, according to reports, full-stack AI data layer startup Poseidon completed a $15 million seed round of funding, led by a16z Crypto. Poseidon aims to address the scarcity of high-quality, IP-clear authorized training data in AI development.

On the 23rd, South Korean blockchain infrastructure service provider DSRV announced the completion of approximately 16 billion Korean won (about $11.6 million) in Series B round financing. This round of financing was participated in by mainstream Korean investment institutions such as Intervest and NH-SK Securities. The second round of financing is expected to start at the end of next month, with more financial institutions joining.

On the 23rd, decentralized AI inference platform Gaia announced the completion of a $20 million seed round and Series A financing led by ByteTrade, SIG, Mirana, and Mantle, with participation from Outlier Ventures, NGC, Taisu Ventures, Consensys Mesh, among others.

On the 24th, it was reported that the European investment app Lightyear completed a $23 million financing round, led by NordicNinja with participation from Markus Villig, co-founder of the ride-hailing unicorn Bolt, and other Estonian technology entrepreneurs. This startup aims to become the "European version of Robinhood" and enter the commission-free trading market.

This Week's Popular Articles

"What Impact Would BlackRock's ETH Staking ETF Have on Ethereum?"

BlackRock plans to introduce staking functionality for its Ethereum ETF, sparking high market attention to the transformation of ETH investment logic. Staking ETFs will transition ETH from a purely speculative asset to a financial instrument with income attributes, driving new demand from institutions and retail investors. To address the liquidity issue of staked assets, liquidity staking protocols (such as Lido's stETH) and centralized platforms (such as Coinbase's cbETH) have become key solutions, leading to increased funding for related projects and tokens. With regulatory progress and infrastructure maturation, Ethereum staking rewards are expected to become a core pivot point for the integration of traditional finance and crypto.

"A Livestream That Completely Ruined pump.fun"

In the early hours of July 19, pump.fun co-founder alon's interview on Twitch triggered a PR disaster, causing $PUMP to plummet by nearly 20% on the same day. Despite reiterating the airdrop commitment and claiming to inject liquidity into the ecosystem, the lack of a clear timeline and repeated "cannot disclose" attitude sparked strong community dissatisfaction. Meanwhile, competitor Bonk quickly announced that platform revenues would support top meme coins, highlighting pump.fun's sluggish response. The interview failed to appease emotions but rather further shook market confidence, making pump.fun, with substantial funds, appear both non-transparent and insincere.

"Bullish, Spun Out from EOS, Officially Sprints Towards NYSE"

Crypto exchange platform Bullish has officially submitted its IPO filing to the SEC, planning to list on the NYSE under the code "BLSH." This marks another compliance-focused crypto company entering the U.S. stock market following Coinbase and Circle. Bullish, backed by EOS's parent company Block.one, previously set a $4.2 billion ICO record in 2017 before shifting focus to traditional finance, receiving support from heavyweight investors like Peter Thiel. It is worth noting that Bullish's rise has been accompanied by a complete rift from the EOS community, with Block.one being accused of abandoning its ecosystem commitments by redirecting resources to new projects, sparking strong community discontent. Now, holding 160,000 BTC and valued at up to tens of billions of dollars, Bullish is attempting to reshape its positioning as the "Wall Street Regiment of the Crypto World," showcasing the typical path of crypto projects transitioning from a technical narrative to deep-rooted capital investment.

"Next Hundredfold Opportunity? A Look at 2025's Most Anticipated Unlaunched Coin Perp DEX Dark Horses"

The Perp DEX track, led by Hyperliquid, is poised for explosive growth in 2025, with the HYPE token driving wealth effects. The high-growth potential of on-chain derivative trading has attracted numerous projects to join the competition. Five major yet-to-launch dark horse projects—edgeX, Lighter, Aster, Ethereal, and Paradex—each have their own unique features, covering areas such as high-performance matching, zero fees, Binance ecosystem integration, USDe support, and options integration. With the backing of technology and capital, they have become key focuses in this round of rug pulling and investment frenzy.

"Peter Thiel Quietly 'Controls' BitMine, the PayPal Godfather Bets on Ethereum"

Peter Thiel has quietly become the largest shareholder of BitMine, signaling a comprehensive shift from Bitcoin to Ethereum deployment: not only building an ETH treasury through BitMine but also making extensive investments in critical infrastructure such as stablecoins (Paxos, Ubyx), derivatives (Avantis), Layer2 (Caldera), and more. With a focus on funding Vitalik, supporting Bullish's listing, and driving Erebor Bank, he is in the process of constructing his own crypto empire through a protocol-first strategy, viewing Ethereum as the cornerstone of a new financial order, reigniting PayPal's unfinished currency revolution dream.

"The Truth About SOL: 0.33% Wallet Control, 54% Token Distribution, Lockup and Staking Mysteries Await Resolution"

Currently, about 88% of SOL has entered circulation, with 71% in active staking, significantly higher than ETH's 30%. While there are discrepancies in the data sources regarding the lockup ratio, almost all tokens have been unlocked, with only FTX holding about 600,000 tokens still locked. According to Arkham data, the top ten holders collectively hold over 20% of the supply, and the Solana Foundation has entrusted 35.6 million SOL for decentralized validation. Although only 14.3% of staked SOL comes from liquid staking tokens, an increase in this ratio could unlock significant potential for Solana's DeFi ecosystem. Overall, 0.33% of wallets control over half of the supply, with 97.4% of wallets holding less than 1,000 SOL, highlighting a landscape of concentration alongside widespread retail participation.

"The ETH Bull Market Through the Eyes of 24 Crypto Experts: End-of-Year Target at $4,000 – Is It the Starting Point or the End Point?"

Most experts predict Ethereum to reach around $4,308 by the end of 2025, and rise to $10,882 and $22,374 in 2030 and 2035, respectively, showcasing strong long-term bullish sentiment. Despite a significant price fluctuation range in 2025 ($1,940 to $4,746), 57% of experts believe it is currently a buying opportunity, with 43% considering ETH to be undervalued. Ethereum is seen as the most promising crypto infrastructure due to its positioning in DeFi, real-world asset tokenization, and institutional adoption, with ETF drives and large enterprise applications reinforcing its growth narrative.

"ZORA's 5x Surge in 10 Days: Value Discovery of Content Tokens"

Zora is evolving from a content minting platform into a high-frequency consumer-grade application centered on the creator economy, integrating on-chain token mechanisms. Despite the token's price decline, its creator coin mechanism, protocol revenue model, and user engagement continue to improve. Through a TikTok-like interface and deep Base integration, it has built a quantifiable on-chain attention monetization loop. Zora Labs is seen as the protocol's growth engine, and if it can integrate the native ad system in the future, bringing brand funds into the token system, it could establish a long-term moat and become a key infrastructure player in the crypto consumer space.

"Ethereum ETF One-Year Anniversary: Net Inflows Increase for Ten Consecutive Weeks, Reserve Asset Strategy Key Driver"

Since its launch last year, the Ethereum ETF has experienced a downturn. However, inflows have reached a historic high, and the assets under management have doubled in size. Institutions are significantly increasing their ETH holdings through ETFs and reserve asset strategies, with companies like SharpLink and BitMine now holding over 700,000 ETH. With BlackRock pushing for a staking ETF, U.S. regulators may approve staking functionality within the year, injecting strong expectations into Ethereum. ETH is transitioning from an "application-based network" to an institutional-grade digital infrastructure asset coveted by institutions.

"Arthur Hayes: Trump and Bezos Join Forces in Market Making, BTC Could Reach $250,000 by Year-End?"

Hayes analogizes the investment market to the rhythm of dance and music, emphasizing that understanding fiat credit expansion is key to asset price appreciation, especially for fixed-supply assets like Bitcoin. He believes the U.S. is slowly moving towards a "fascist-style" economy centered around state intervention and war, stimulating industrial expansion through government guarantees and bank credit, ultimately creating asset bubbles to maintain economic and social stability. The crypto market, particularly Ethereum, will become a new policy tool and core of the asset bubble under the Trump administration, forming a closed-loop financial ecosystem through credit injection, stablecoin custody, and government bond underwriting. His investment strategy clearly favors Ethereum and its ecosystem, seeing it as the best dance step in the current credit rhythm.

"Diamond Hand Final Chapter: Four Altcoin Investment Opportunities I Am Bullish On"

This article shares insights on the four most promising Beta-level assets in the current cycle: AAVE, known for its integration with traditional finance and long-term value in the RWA trend; Pendle, the undisputed leader in yield asset securitization, poised to ride another wave through RWA; Hyperliquid, at its peak issuance, remains a hidden gem due to its strong liquidity and ecosystem scalability; Bittensor, once criticized for being "self-feeding," holds platform potential akin to ETH in the Crypto+AI narrative, with halving nodes deserving special attention. The overall trend is shifting from Alpha to Beta, capturing both long-term beliefs and practical considerations in the current market.

"LTC Takes the Wall Street Stage: MEI Pharma's 'Litecoin Treasury' Surges Over 80%"

U.S. biotech company MEI Pharma announced the inclusion of Litecoin (LTC) in its corporate treasury, becoming the first publicly traded company to hold LTC and appointing Litecoin's founder, Charlie Lee, to its board, leading to a surge in stock price. This strategic shift received over $100 million in funding commitments and the support of GSR and the Litecoin Foundation, signaling LTC's formal entry into institutional asset allocation considerations. With the increasing likelihood of an ETF and the MicroStrategy model replication, Litecoin's financial status and market value are undergoing a reassessment, accelerating the institutionalization of altcoins.

"Grayscale: After the 'GENIUS Act' Lands, Stablecoins Will Reshape the Starting Point of the Global Payment Network"

Stablecoins, as digital assets pegged to the U.S. dollar and deployed on the blockchain, are evolving from a core tool of crypto transactions to a potential disruptor of the global payment system. Their low cost, high transparency, and programmability give them a significant advantage in scenarios such as cross-border payments, domestic U.S. payments, and AI-driven payments. Despite stablecoins' monthly transaction volume surpassing 1 billion, their share in the traditional payment market remains small. The passage of the "GENIUS Act" provides a clear regulatory framework for stablecoins in the U.S., enhancing financial stability and compliance, and bringing long-term benefits to the Ethereum and other blockchain ecosystems. In the future, stablecoins are expected to compete with traditional fintech, tokenized deposits, and central bank digital currencies, becoming a key driver of digital payment innovation.

"Circle's Chief Strategy Officer Dialogue: After the 'GENIUS Act' Lands, the Competition Between Banks and Non-Bank Institutions Has Just Begun"

The U.S.'s first stablecoin federal bill, the "GENIUS Act," successfully passed in the political arena, providing a clear legal path and compliance framework for the crypto industry. Circle's Chief Strategy Officer Dante Disparte believes that this act not only legitimizes the crypto industry but also places stablecoins at the core of global financial competition, helping to strengthen the U.S. dollar's position. The act introduces an international reciprocity mechanism, giving the U.S. Treasury the power to promote its domestic regulatory model globally and setting strict requirements for stablecoin issuers, promoting market transparency and security. Circle is engaging in regulatory competition with large banks by applying for a National Trust Charter, aiming to build a blockchain-based global financial infrastructure.

"a16z: Stablecoin Landing is Just the First Step, CLARITY Act is the Key"

The CLARITY Act has passed the House with strong support, aiming to establish a clear and actionable regulatory framework for the U.S. crypto market. It defines the regulatory boundaries of digital assets and decentralized systems through a "control-based" maturity model, gradually shifting regulatory authority from the SEC to the CFTC, and establishing corresponding regulations for exchanges, project teams, DeFi, and more. This Act not only enhances transparency, limits insider trading, and protects consumer rights but also complements the GENIUS Act related to stablecoins, jointly driving the crypto industry towards regulatory compliance and maintaining the U.S.'s leading position in the global blockchain infrastructure competition.

"Top 8 Public Chain Quarterly Data Faceoff: Ethereum Leads the Pack, Base and Hyperliquid Emerge as Dark Horses"

Over the past three months, the crypto market has experienced a significant recovery, with prices of various mainstream public chain tokens soaring. However, on-chain data performance varies: Ethereum's price doubled with the support of ETFs and institutional buying, TVL increased but ETH holdings decreased; Solana saw decreases in activity and fund flows, with ecosystem enthusiasm focused on Pump.fun; BSC experienced a significant increase in daily active users and trading volume but suffered net outflows of funds; Base saw a surge in activity but funds flowed back to Ethereum; Arbitrum's data remained stable but price rebounded significantly; Sui and Hyperliquid saw price and on-chain metrics rise, with impressive performance; Aptos lagged behind relatively. Overall, this round of price surge seems more like a lead by capital, and ecosystem development still needs validation.

"IOSG: Are SBET Coin Stocks an Innovation Narrative or Ethereum Leverage?"

Bitcoin and Ethereum strategic reserves have become a popular strategy for publicly traded companies, especially following the MicroStrategy demonstration effect. Companies like Metaplanet, Twenty One, and SharpLink quickly built their positions through convertible bonds, SPACs, PIPEs, and other complex financing means, forming competitive barriers through tax arbitrage, staking rewards, and strategic partnerships. However, the industry is highly homogenized, with many projects lacking sustained advantages in the long term. Valuation bubbles are evident, facing rapid pullback risks in a market downturn. Ethereum reserves are particularly active, and companies like SharpLink, BTCS, and BitMine are strengthening their revenue models through staking, DeFi lending, and attracting top VCs and founders to enter the field, empowering the enterprises.

"Cryptocurrency Economic Trilogy Finale: Interest Rate"

The Federal Reserve's interest rate policy has become a key variable in the cryptocurrency market, as rate hikes or cuts not only impact dollar liquidity but also significantly affect the trends of digital assets such as Bitcoin. Interest rate changes, through their impact on US Treasury yields, the US Dollar Index, gold and oil prices, and the Renminbi exchange rate, further feedback into the global financial market. Rate cuts typically unleash liquidity, boost risk appetite, and drive up cryptocurrency prices. However, this impact is also influenced by a myriad of factors such as economic fundamentals, market sentiment, and policy expectations, and is not linear or one-way. In the current highly interconnected market, understanding the interest rate cycle and capital behavior logic is essential to grasp the rhythm and seek returns while managing risks amid volatility.

"Pantera Partner: Washington D.C.'s 'Crypto Week' Three Heavy Blows, Is US Crypto Hegemony Secure?"

The US has recently reshaped the regulatory landscape of the cryptocurrency industry through three key bills. The "GENIUS Act" has been signed into law, establishing a uniform compliance standard for stablecoin issuance, promoting active pilot projects between banks and tech giants, and significantly boosting market confidence and capital inflows. The "CLARITY Act" clarifies the regulatory boundaries between the SEC and CFTC, providing a clear legal pathway for decentralized projects and encouraging projects to evolve towards mature blockchain standards. The "Anti-CBDC Act," included in the "National Defense Authorization Act," prevents the launch of central bank digital currencies without congressional approval, upholding financial privacy and strengthening policy support for decentralized systems. The combination of the three acts signifies that the US is officially embracing dominance in the cryptocurrency industry, and stablecoins, open finance, and on-chain payments will accelerate their development within its regulatory framework.

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