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PayPal stablecoin PYUSD market cap hits $500 million.

PayPal stablecoin PYUSD market cap hits $500 million.

Hot projects + Market overview

I. Mainstream exchange news

  • Coinbase has added Stader to its listing roadmap.
  • Coinbase will re-enable the trading of Stargate Finance (STG) on the Ethereum network.
  • Upbit will list the Ethereum Name Service (ENS) token on its Korean Won market.
  • Bithumb will enable trading pairs BRETT and TAIKO on its Korean Won market.

II. Mainstream projects and trending events

  • US Federal Reserve Chairman Jerome Powell has said that high inflation is no longer the only risk to the US economy, and he does not anticipate a rate hike at the next meeting.
  • BlackRock and Invesco Galaxy have submitted 8-A12B forms to the US SEC for Ethereum spot ETFs.
  • Crypto payment startup Kulipa has partnered with Mastercard and Argent to launch a debit card to bridge traditional finance and crypto.
  • TON blockchain will release a new Layer2 network based on Polygon technology, enhancing scalability and user experience.
  • The USDC Treasury has minted an additional 250 million USDC on the Solana network.
  • "We are now addressing the increasing investor interest in Solana," said Rob Marrocco, global head of ETP Listings at Cboe.
  • John Crain, co-founder of SuperRare, has announced that the RARE token and protocol contracts will soon be launched on the Base network.
  • Circle, a stablecoin issuer, plans to introduce its Euro stablecoin, EURC, to the Base network.
  • PayPal's stablecoin PYUSD has seen a 90% increase in supply and crossed a market cap of $500 million after expanding to the Solana network.

III. Funding news

  • ​​Multichain search engine Dora has raised $5.5 million from a round led by Dragonfly and Lemniscap.
  • Layer2 project BOB has raised $1.6 million in a strategic funding round led by Ledger Venture.
  • Fixed-rate lending protocol Term Finance has raised $5.5 million in a strategic funding round.
  • All-chain stablecoin protocol Satoshi Protocol has raised $2 million in a seed funding round.
  • Blockchain startup Rome has raised $9 million to provide services on Solana for Ethereum Layer2 solutions to enhance cross-chain functionality.
  • Web3 identity layer idOS has raised $4.5 million in a funding round led by Fabric Ventures.
  • Coinbase Ventures has invested $1 million in Ampleforth Foundation's decentralized low-volatility commodity currency, SPOT.

IV. Regulatory news

  • Nigeria's Finance Minister has urged the country's SEC to address the complexities of regulating cryptocurrencies, emphasizing the need for stringent oversight to maintain market integrity.

V. Popular projects 

Market Overview

As of July 5th, BTC reached a new low. It has been in an adjustment phase for the past four days. It has yet to surpass the $59,000 mark, and the faster it does, the stronger the reversal signal.

Although BTC has hit $58,000 multiple times without breaking through, the base level continues to rise.

US BTC Spot ETF Updates - July 8

Overall Data:

Total Net Inflows: $15.15 billion 

Daily Net Inflows: $95.3 million

Single-Day Turnover: over $596 million

Proportion of BTC’s Market Value: 4.44%

Breakdown by ETF:

GBTC:

Net Asset Value: $15.83 billion (-0.24%)

Single-Day Net Outflows: $37.5 million

Cumulative Net Outflows: $18.62 billion

Single-Day Turnover: $173 million

FBTC:

Net Asset Value: $10.02 billion (+0.92%)

Single-Day Net Inflows: $90.95 million

Cumulative Net Inflows: $9.51 billion 

Single-Day Turnover: $235 million

ARKB:

Net Asset Value: $2.74 billion (+1.61%)

Single-Day Net Inflows: $43.3 million

Cumulative Net Inflows: $2.48 billion

Single-Day Turnover: $76.97 million

SD is up 60% in a day

 

The price of Stader (SD), a non-custodial staking platform, has increased by 60% in the last 24 hours. The platform uses smart contracts to help users easily discover and access staking solutions, maximizing their returns. Currently, Stader has a Total Value Locked (TVL) of $559 million and cumulative earnings of over $25 million.

 

On June 25th, Stader announced the burning of 30 million tokens, reducing the total supply from 150 million to 120 million.

 

On July 10th, Coinbase added SD to its listing roadmap, which led to a significant price surge. The current market cap of SD is $26.51 million.

Purr is up 22% in a day

The price of Purr, an experimental memecoin launched by Hyperliquid, has recently surged by over 200% from its low point, nearing its all-time high.

The price of Purr has increased by 22% within 24 hours and reached a daily trading volume close to $20 million. 

More projects will likely launch memecoins to test market interest or use meme-driven campaigns to boost project visibility.

HPO is up 9% in a day

Hippocrat (HPO) provides personalized healthcare solutions using blockchain and zero-knowledge proof, giving individuals control over their health data and enhancing healthcare quality. 

Its first application, Hippo, is a universal telehealth service that ensures equal access to healthcare, regardless of background, location, or language. HPO's primary trading volume occurs on the Upbit exchange, with a daily trading volume of $50.55 million.

AZUR is up 25% in a day

Azuro (AZUR) offers on-chain prediction infrastructure and liquidity layers with a unique liquidity pool design called the liquidity tree to maintain market liquidity.

Azuro has raised $11 million from a funding round, participated in by SevenX Ventures and Fenbushi Capital. 

The price of the AZUR token has increased by 25% in the last 24 hours with a market cap of $21.26 million.

On-chain Daily

1. MATT: MATT features Matt Furie, the creator of Pepe. The token's contract address begins with 0x790814, corresponding to Furie's birthday on August 14, 1979.

Current Price: $0.0(4)212 (Historical High)

6-hour Change: +46% (Token Launch Time: 7/9, 05:00 UTC)

Current Market Value: $8.9M

Official Twitter: https://x.com/MattFurie0x79

2. SKULL: SKULL features a character from Matt Furie's book "Mindviscosity."

Current Price: $0.0(5)794

Historical High: $0.0(4)105

24-hour Change: +357%

Current Market Value: $3.2M

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

3. Rocky: Rocky is a memecoin on the Solana chain, featuring a cute rock.

Current Price: $0.00839 (Historical High)

24-hour Change: +850%

Current Market Value: $8.3M

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

4. GIGA: GIGA is a memecoin on the Solana chain, featuring a group of successful-looking men (Chads).

Current Price: $0.0122

Historical High: $0.019

24-hour Change: -5%

Current Market Value: $118M

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

5. BANKSY: BANKSY is a memecoin on the Solana chain, inspired by the famous artist Banksy.

Current Price: $0.000288

Historical High: $0.000547

6-hour Change: +43% (Token Launch Time: 7/9, 10:30 UTC)

Current Market Value: $211K

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

6. BENJI: BENJI is named after the Basenji dog breed, fitting the Base theme.

Current Price: $0.052

Historical High: $0.106

24-hour Change: +13%

Current Market Value: $52.4M

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

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

NIKOLA•TESLA•GOD

- Minting: Completed

- A popular project with a market value of $2.6M

- 24-hour trading volume: $14,431 (77% increase)

- Holding addresses: 933

WANKO•MANKO•RUNES

- Minting: Completed

- A popular project with a market value of $7.8M

- 24-hour trading volume: $11,000 (55% increase)

- Holding addresses: 6,018

RARE•PUPS•PUPCASH

- Minting: Completed

- A popular project with a market value of $1.15M

- 24-hour trading volume: $10,760 (38% increase)

- Holding addresses: 1,253

Top Rune Projects Tracking

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

- Current price: 7.8 Sats

- 24-hour change: -3.3%

- Current Market Value: 7,890 BTC

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

- Current price: 9 Sats

- 24-hour change: -17%

- Current Market Value: 1,890 BTC

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

- Current price: 6.9 Sats

- 24-hour change: -3%

- Current Market Value: 1,450 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.

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