Cypherpunk Holdings holds $10 million worth of SOL tokens.

Hot projects + Market overview

I. Mainstream exchange news

• Binance has launched a three-month zero-fee promotion for its dollar-cost averaging plan.
• OKX Web3 wallet trading section has started supporting PoW Layer 1 Kaspa (KAS).

II. Mainstream projects and trending events

• Polygon modular blockchain project Avail announces the establishment of a foundation, to ensure the long-term sustainability and growth of the ecosystem.
• US presidential candidate Donald Trump has stated he will not seek to remove Federal Reserve Chairman Powell before his term ends; if elected, he will consider appointing J.P. Morgan CEO as Treasury Secretary.
• Donald Trump has announced plans to launch a fourth NFT series.
• Canadian-listed investment company Cypherpunk Holdings has increased its SOL holdings, now exceeding 63,000 tokens.
• The Block has reported that FTX has agreed to a $12.7 billion settlement with the US CFTC, pending approval from the bankruptcy judge.
• Deribit will launch Bitcoin and Ethereum options expiring on November 8, enabling investors to speculate on and hedge against the impact of the November 5 US election on the crypto market.
• Reuters has reported that the US SEC has preliminarily approved BlackRock, VanEck, and Franklin Templeton to start trading spot Ethereum ETFs next Tuesday, July 23.
• The Uniswap extension is now open to all users via Google's Chrome Web Store, allowing them to set up a new wallet or import an existing one.
• Polygon has introduced a new ZK-proof system Plonky3 as an open-source toolkit.
• Ripple Labs has donated $1 million to support lawyer John Deaton's campaign for a state senate seat in Massachusetts.
• Ethereum Layer2 network Movement has announced the upcoming launch of its testnet.

III. Funding news

• Privy, a Web3 identity verification and private key management tool has secured strategic investment from Coinbase Ventures.
• PEXX, the stablecoin cross-border payment platform has raised $4.5 million from a seed round.

IV. Regulatory news

• The South Korean government has issued a revised bill allowing prosecutors to investigate virtual asset crimes.

V. Popular projects 

Market overview

BTC continues to hit new highs, reaching $66,128, meeting the previously predicted target price. Despite a brief $2,500 drop due to the Mt. Gox event, BTC quickly recovered, indicating strong buying momentum. Key factors driving this include:

1. Potential Rate Cuts: Speculation about a potential rate cut in July and a confirmed cut in September, as Goldman Sachs and J.P. Morgan signaled.
2. Trump Concept: Trump's running mate, Vance, holds BTC. If elected, Trump may appoint JPMorgan's CEO as Treasury Secretary, which could lead to more supportive policies for the crypto sector.
3. Mt. Gox Distributions: The distribution of BTC and BCH to Mt. Gox creditors has begun, potentially leading to continuous BTC sales. However, if the market perceives that these sales have a limited impact on BTC prices, sentiment may quickly turn bullish.

BTC's short-term movement is difficult to predict, but as long as it remains above $64,000, the uptrend from $53,485 is expected to continue.

US BTC Spot ETF Updates - July 16

Overall Data:

Total Net Inflows: $16.27 billion

Daily Net Inflows: $162 million

Single-Day Turnover: $737 million

Proportion of BTC’s Market Value: 4.55%

Breakdown by ETF:

GBTC:

Net Asset Value: $17.8 billion (0%)

Single-Day Net Inflows: $0

Cumulative Net Outflows: $18.64 billion

Single-Day Turnover: $203 million

FBTC:

Net Asset Value: $11.59 billion (+0.52%)

Single-Day Net Inflows: $61.05 million

Cumulative Net Inflows: $9.82 billion

Single-Day Turnover: $255 million

ARKB:

Net Asset Value: $3.25 billion (+0.92%)

Single-Day Net Inflows: $29.85 million

Cumulative Net Inflows: $2.65 billion

Single-Day Turnover: $105 million

GODS is up 50% in a day 

Gods Unchained (GODS) is a free-to-play, play-to-earn card game on the Ethereum chain and built on Immutable. 

With the market improving, funds are flowing into GameFi. GODS had a market cap of $45 million before the surge, making it relatively easy to pump. The token has surged 50% in a day, with a 24-hour trading volume of $15.02 million.

XPLA is up 12% in a day

XPLA, a gaming-focused PoS L1 blockchain built on Cosmos, was developed by Metamagnet in partnership with Com2uS Group, one of Korea's largest game studios. 

XPLA has surged 15% in a day, with a 24-hour trading volume of $1.5 million.

GOG is up 18% in a day 

Guild of Guardians (GOG) is a mobile multiplayer blockchain RPG game inspired by games like Diablo and Dungeons & Dragons.

Published by Immutable and developed by Mineloader, GOG has a market cap of $40.58 million and a 24-hour trading volume of $1.45 million.

BLOCK is up 35% in a day 

Blockasset (BLOCK) is an NFT platform connecting fans with their favorite athletes. It announced a partnership with the UFC on June 27 and was mentioned by the UFC on X on June 23.

The BLOCK token has surged 35% in a day, with a market cap of $28.28 million and a 24-hour trading volume of $880,000.

On-chain Daily

1. FIGHT: Fight is a memecoin on the Ethereum chain, themed around an incident where US presidential candidate Donald Trump was shot during a campaign rally in Pennsylvania. After being hit in the right ear, he stood up and shouted "FIGHT" three times, which became the token's inspiration.

After the shooting incident, the market value of FIGHT has surged from $300K to the current $82M, achieving a 270-fold increase.

Current Price: $0.082 (historical high)

24-Hour Change: +535%

Current Market Value: $82M

Official Twitter: https://x.com/Fight2Maga

2. MAPE: MAPE is a variant of Pepe with the combination of MAGA to support Trump.

Current Price: $0.00022

Historical High: $0.00247

24-Hour Change: +138%

Current Market Value: $9.3M

Official Twitter: https://x.com/MapeOnEth

3. MAGOA: MAGOA stands for "Make America Great Once Again." This is the official slogan of the 2024 Republican National Convention.

Current Price: $0.00178

Historical High: $0.00212

6-Hour Change: +133%

Token Launch Time: 7/16, 4:00 UTC

Current Market Value: $7.2M

Official Twitter: https://x.com/MAGOAeth

4. Ponke: Ponke is a memecoin on the Solana chain, featuring a monkey. Unlike typical projects, Ponke excels in spreading through animations, reaching more Web2 audiences. Currently, it has 340K followers on Instagram.

Current Price: $0.62

Historical High: $0.68

24-Hour Change: +25%

Current Market Value: $311M

Official Twitter: https://x.com/ponkesol

5. POPDOG: POPDOG is a memecoin on the Solana chain, featuring an open-mouthed dog similar to Michi. It also pays homage to the Solana memecoin Popcat.

Current Price: $0.0016

Historical High: $0.0057

24-Hour Change: +72%

Current Market Value: $1.6M

Official Twitter: https://x.com/popdogsolcto

6. MUMU: MUMU is a memecoin on the Solana chain. It's also a mascot memecoin representing a bull market, opposite to Bobo Bear (bearish market sentiment).

Current Price: $0.00037 (historical high)

24-Hour Change: +27%

Current Market Value: $88M

Official Twitter: https://x.com/mumu_bull

Daily Rune Observation

Gas Fee Change: The current BTC transaction fee is 6 bytes/satoshi, remaining low overall despite Bitcoin's price recovery.

Today's Popular Projects

USA•USA•USA•USA

Total pieces: 20,000

Reserved: 0%

Currently minted: 16,590

In memory pool: 2,156

Minting progress: 83%

Holding addresses: 168

FIGHT•FIGHT•FIGHT

Minting: Completed

A popular project with a market value of $531K

24-hour trading volume: $117,310 (1242% increase)

Holding addresses: 462

ALETHEIAS•AGORA

Minting: Completed

A popular project with a market value of $1M

24-hour trading volume: $58,800 (102% increase)

Holding addresses: 717

Top Rune Projects Tracking

DOG•GO•TO•THE•MOON: Rune #3, also known as the airdrop Runes of Runestone.

Current price: 7.38 Sats

24-hour change: -7.7%

Current Market Value: 7,380 BTC

BAMK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1.

Current price: 8 Sats

24-hour change: +7.37%

Current Market Value: 1,680 BTC

RSIC•GENESIS•RUNE: Rune #8, established by the prominent inscription mining project RSIC.

Current price: 6.98 Sats

24-hour change: +7.4%

Current Market Value: 1,460 BTC

Disclaimer

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available at the time of writing and may be subject to change.

Please note that this article includes references to third-party websites and data, which are provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.

Cryptocurrencies, staking, and restaking involve significant risk and may not be suitable for all investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.

We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies or staking. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.