BTC risks further decline if it doesn't break $59,000 and $61,000
Hot projects + Market overview
I. Mainstream exchange news
- Binance has merged the OCEAN, AGIX, and FET tokens, naming the new token ASI.
- Binance will remove AMB/BTC, IOST/BTC, and LINA/BTC spot trading pairs.
II. Mainstream projects and trending events
- Tether CEO Paolo Ardoino has said that the company is developing a decentralized AI model.
- UniSat will launch in September, Fractal Swap, a scaling solution that will include an incentive mechanism.
- Nate Geraci, president of the ETF Store has predicted that an Ethereum spot ETF is likely to launch the week of July 15th.
- EVM-compatible blockchain Celo has launched the L2 testnet Dango, built on OP Stack.
- The Lido community has proposed hiring a legal counsel for a collective lawsuit involving Lido DAO.
- Mining companies Bit Digital and Iris Energy have reported a decline in Bitcoin production for Q2.
- The US Federal Reserve's semi-annual monetary policy report indicates that more confidence in controlling inflation is needed before rate cuts can be considered.
- Ethereum Layer 2 Zircuit will release its mainnet soon, with the first-quarter points snapshot scheduled for July 7th.
- Creditors of defunct crypto exchange Mt. Gox could wait up to three months before receiving their Bitcoin.
- The largest ETH bulk options trade today involved buying a $3,200 call option and selling a $4,200 call option, both expiring at the end of this year, data from Deribit has shown.
IV. Regulatory news
- South Korea has delayed the implementation of virtual asset tax regulations until 2025.
- The European Union has introduced new regulations requiring crypto exchanges to comply with travel rule guidelines and enhance anti-money laundering measures starting December 30th.
V. Popular projects
Market Overview
After hitting a new low of $53,485 over the weekend, BTC began to rebound and peaked at $58,475.
To confirm an upward trend and end the correction from $71,997, BTC needs to stabilize and break two critical levels: $59,000 and $61,000.
If BTC fails to quickly surpass these levels, there is still a risk of further decline. The support level is at $51,500.
US BTC Spot ETF Updates - July 5
Overall Data:
Total Net Inflows: $14.76 billion
Daily Net Outflows: $143 million
Single-Day Turnover: over $2.81 billion
Proportion of BTC’s Market Value: 4.42%
Breakdown by ETF:
GBTC:
Net Asset Value: $15.46 billion (-0.18%)
Single-Day Net Outflows: $28.57 million
Cumulative Net Outflows: $18.6 billion
Single-Day Turnover: $390 million
IBIT:
Net Asset Value: $17.36 billion (0%)
Single-Day Net Inflows: $0
Cumulative Net Inflows: $17.74 billion
Single-Day Turnover: $1.5 billion
FBTC:
Net Asset Value: $9.65 billion (+1.23%)
Single-Day Net Inflows: $117 million
Cumulative Net Inflows: $9.36 billion
Single-Day Turnover: $526 million
ARKB:
Net Asset Value: $2.63 billion (+0.43%)
Single-Day Net Inflows: $11.3 million
Cumulative Net Inflows: $2.43 billion
Single-Day Turnover: $174 million
UDS is up 28% in a day
Undeads (UDS) is an MMORPG survival game based on the Ethereum blockchain and in-game NFTs. Since its launch in May, the UDS token has shown strong performance despite minor fluctuations. 84.2% of the UDS tokens are locked in contract addresses, limiting the token market circulation
The token price has surged 28% in a day to a new high, with a current market cap of $26.61 million.
SATS is up 20% in a day
UniSat has made progress in systematically scaling Bitcoin with a method called Fractal Bitcoin. This approach utilizes Fractal Swap, a swap product similar to the mainnet swap module, to ensure projects have good liquidity from the outset.
SATS will be used as the gas fee within the process, leading to a notable 20% daily rebound in SATS prices.
On-chain Daily
1. MOJO: MOJO is claimed to be the first recorded artwork by Matt Furie.
Current Price: $0.0(8)64
Historical High: $0.0(7)112
24-hour Change: +28%
Current Market Value: $2.6M
Official Twitter: https://x.com/MojoByMattFurie
2. SPIKE: Spike is a creation by Matt Furie from 1984. The token's distinctive feature is its address starting with 0x1984.
Current Price: $0.0(4)211
Historical High: $0.0(4)275
24-hour Change: +37%
Current Market Value: $8.3M
Official Twitter: https://x.com/SpikeFurie
3. SHIBA: SHIBA is the American version of the Shiba Inu token.
Current Price: $0.0(8)169
Historical High: $0.0(8)228
6-hour Change: +28% (Token Launch Time: 7/7, 20:30 UTC)
Current Market Value: $861K
Official Twitter: https://x.com/americanshib?s=21&t=g39zXlKHlUmuL9k26cHZbg
4. BODP: BODP is a memecoin on the Solana chain, named Book of Dump. It refers to the recent market crash caused by the German government and Mt.Gox selling BTC.
Current Price: $0.0271
Historical High: $0.0298
24-hour Change: +5.5%
Current Market Value: $2.6M
Official Twitter: https://x.com/Germany_DUmp
5. Doogle: Doogle is a memecoin on the Solana chain, featuring a character created by Matt Furie in 2018.
Current Price: $0.00849
Historical High: $0.0114
24-hour Change: +57%
Current Market Value: $8.5M
Official Twitter: https://x.com/DoogleOnSolana
6. HOPPY: HOPPY is a memecoin on the Base chain, featuring the main character from Matt Furie's first comic book "The Night Riders."
Current Price: $0.0217
Historical High: $0.0315
24-hour Change: +565%
Current Market Value: $21.7M
Official Twitter: https://x.com/hoppy_on_base
Daily Rune Observation
Gas Fee Change: The current BTC transaction fee is 6 bytes/satoshi, remaining low due to Bitcoin's downturn.
Today's Popular Projects
HAWK•TUAH•FOR•PRESIDENT
- Total pieces: 50,000
- Reserved: 0%
- Currently minted: 17,239
- In memory pool: 645
- Minting progress: 35%
- Holding addresses: 184
THE•DONALD•TRUMP
- Minting: Completed
- A popular project with a market value of $4.7M
- 24-hour trading volume: $4,803 (1% increase)
- Holding addresses: 3,065
NICOLAS•PI•RUNES
- Minting: Completed
- A popular project with a market value of $4.7M
- 24-hour trading volume: $99,900 (0.1% increase)
- Holding addresses: 7,662
Top Rune Projects Tracking
DOG•GO•TO•THE•MOON: Rune #3, also known as the airdrop Runes of Runestone.
- Current price: 7.9 Sats
- 24-hour change: -9%
- Current Market Value: 7,953 BTC
BAMK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1.
- Current price: 10.4 Sats
- 24-hour change: +4%
- Current Market Value: 2,184 BTC
RSIC•GENESIS•RUNE: Rune #8, established by the prominent inscription mining project RSIC.
- Current price: 6.9 Sats
- 24-hour change: -3.7%
- Current Market Value: 1,465 BTC
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