Hot projects + Market overview
I. Mainstream exchange news
- Binance will remove AI/TUSD, BTC/AEUR, CHR/BNB, ETH/AEUR, GAS/FDUSD, and LQTY/FDUSD spot trading pairs.
- Binance has added ZRX, CHR, RAY, REZ, and TRB to its borrowable assets for staking and borrowing.
- Indian crypto exchange CoinDCX has acquired BitOasis to expand in the Middle East and North African (MENA) region.
II. Mainstream projects and trending events
- Crypto investment firm DWF Labs has launched a $20 million crypto-native fund called ‘Cloudbreak’ to target high-quality Chinese projects.
- Galxe, a blockchain identity protocol, will migrate its GAL token to the G token on July 9th.
- Aptos Labs has launched a self-custody wallet Aptos Connect.
- Asset management firm Bitwise has said it plans to waive fees for its Ethereum spot ETF for a limited time.
- According to the latest US Fed meeting minutes, the Fed is waiting for “more information” before deciding on whether to cut interest rates.
- Decentralized AI network Bittensor has proposed burning 10% of the TAO token supply to stabilize its price.
- US June ADP employment has increased by 150,000, the smallest rise since January 2024.
- LST liquidity aggregation protocol Sanctum will airdrop its CLOUD token, allocating 5% each to Wonderland XP and Earnestness.
III. Funding news
- AI and RWA project Compute Labs has raised $3 million in a pre-seed funding round, led by Protocol Labs and participated in by HashKey Capital and OKX Ventures.
- Bitcoin scaling protocol QED has raised $6 million in a seed round from Blockchain Capital.
- On-chain reputation network Ethos Network has raised $1.75 million in a pre-seed funding round.
IV. Regulatory news
- US District Judge Mary Rowland of Illinois has sided with the CFTC ruling that OHM and Klima are commodities. However this may not have major implications, since the SEC could still classify them as securities, The Block reports.
- The Basel Committee has approved a framework that requires banks to disclose crypto-asset exposures.
V. Popular projects
Market Overview
BTC dropped below $60,000 and hit a low of $57,800. The key stages of BTC's recent movement include:
1. Initial drop to $64,060: This met the minimum requirement for a high point correction from $71,997. BTC needs to stabilize above $66,000 to confirm consolidation.
2. Breakthrough and reversal: BTC surpassed $66,000 but quickly fell below $65,000 due to selling pressure, indicating that $66,000 is not a short-term bottom.
3. Key support levels: $63,000 to $62,000 is a crucial support range. BTC’s dip to $58,402 below this range could lead to two core movements:
Scenario 1: If BTC stands above $64,000, it will oscillate between $61,000 and $62,000 with a rebound expected after a 5-wave adjustment.
Scenario 2: If BTC falls below $56,400, it may hit a new low, potentially followed by a significant rebound.
4. Recent decline: BTC's rebound to $63,861 failed to hold above $64,000, indicating short-term weakness. A drop below $61,000 increases the likelihood of a new low. The recent low is $57,800, with support around $55,000.
US BTC Spot ETF Updates - July 3
Overall Data:
Total Net Inflows: $14.62 billion
Daily Net Outflows: $20.45 million
Single-Day Turnover: over $368 million
Proportion of BTC’s Market Value: 4.4%
Breakdown by ETF:
GBTC:
Net Asset Value: $16.35 billion (-0.06%)
Single-Day Net Outflows: $26.99 million
Cumulative Net Outflows: $18.57 billion
Single-Day Turnover: $93.3 million
FBTC:
Net Asset Value: $10.10 billion (+1.41%)
Single-Day Net Inflows: $6.55 million
Cumulative Net Inflows: $9.24 billion
Single-Day Turnover: $151 million
ARKB:
Net Asset Value: $2.77 billion (+1.47%)
Single-Day Net Inflows: $0
Cumulative Net Inflows: $2.42 billion
Single-Day Turnover: $55.91 million
BILLY is up 30% in a day
BILLY is a memecoin on the Solana network featuring an image of a cute dog.
The token price has increased by 30% and hit a new high with a market cap of $129 million, on-chain liquidity of $3.48 million, and trading volume of $42.37 million in the last 24 hours.
HONEY is up 45% in a day
Hivemapper (HONEY) is a blockchain-based map network aiming to create a decentralized global map that rewards contributors. Contributors can collect data using Hivemapper dash cams and earn HONEY tokens as rewards.
Hivemapper announced its listing on Kraken on July 3rd. The token has experienced a 46% increase in the last 24 hours.
On-chain Daily
1. WYNN: WYNN is a memecoin on the Ethereum chain launched by a well-known memecoin player James Wynn, who previously earned over $25 million through Pepe. Wynn has a controversial reputation for promoting other memecoins while selling them.
Current Price: $0.00427
Historical High: $0.00858
6-hour Change: +35% (Token Launch Time: 7/3, 10:00 UTC)
Current Market Value: $4.2M
2. USPEPE: USPEPE is a Pepe-themed token with an American twist, notable for its contract address starting with 0x704, representing Independence Day.
Current Price: $0.0(8)542
Historical High: $0.0(8)803
6-hour Change: +177% (Token Launch Time: 7/3, 16:45 UTC)
Current Market Value: $2.2M
3. WAT: WAT is an Ethereum-based memecoin featuring Matt Furie's pet mouse that appeared in his comic "The Night Riders."
Current Price: $0.0(4)44
Historical High: $0.0(4)54
24-hour Change: +14%
Current Market Value: $18.5M
4. BILLY: BILLY is a Solana-based memecoin featuring a cute dog with the slogan "Send Billy to billions."
Current Price: $0.128
Historical High: $0.152
24-hour Change: +32%
Current Market Value: $128M
5. KAMA: KAMA is a Solana-based memecoin featuring the likeness of current US Vice President Kamala Harris.
Current Price: $0.0105
Historical High: $0.0222
24-hour Change: +25%
Current Market Value: $10.5M
6. BSB: BSB is a memecoin on the Base chain, inspired by Wall Street Bets.
Current Price: $0.0(4)164
Historical High: $0.0(4)198
24-hour Change: -7%
Current Market Value: $1.6M
Daily Rune Observation
Gas Fee Change
The current BTC transaction fee is 7 bytes/satoshi, remaining low due to Bitcoin's downturn.
Today's Popular Projects
BYZANTINE•GENERAL
Minting: Completed
A popular project with a market value of $125K
24-hour trading volume: $14,000 (88% increase)
Holding addresses: 561
BONES•OF•BITDOG
Minting: Completed
A popular project with a market value of $6M
24-hour trading volume: $13,400 (77% increase)
Holding addresses: 2,998
NICOLAS•PI•RUNES
Minting: Completed
A popular project with a market value of $6.6M
24-hour trading volume: $178,800 (15% increase)
Holding addresses: 7,363
Top Rune Projects Tracking
DOG•GO•TO•THE•MOON: Rune #3, also known as the airdrop Rune of Runestone.
Current price: 9.23 Sats
24-hour change: -1.5%
Current Market Value: 9,229 BTC
BAMK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1.
Current price: 8.3 Sats
24-hour change: -10%
Current Market Value: 1,743 BTC
RSIC•GENESIS•RUNE: Rune #8, established by the prominent inscription mining project RSIC.
Current price: 7 Sats
24-hour change: -8%
Current Market Value: 1,465 BTC
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