The US SEC has approved nine Ethereum spot ETFs, but ETH prices remain unchanged

Hot projects + Market overview

I. Mainstream exchange news

• OKX has launched a Meme mode for its Web3 wallet on mobile devices.
• Binance will suspend deposits and withdrawals for CTK and RIF networks to support their network upgrades and hard forks.
• OKX has introduced OKXRacer, a Telegram mini-App where users can predict price movements to win points.

II. Mainstream projects and trending events

• Crypto exchange WOO X has enabled users to withdraw daily interest from its US Treasury-backed yield vault.
• The US SEC has approved spot Ethereum ETF forms from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, Invesco Galaxy, and the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust.
• Crypto algorithmic trading firm Wintermute predicts that Ethereum ETFs could attract up to $4 billion in inflows within a year. 
• Bitwise, which has received listing approval for its Ethereum spot ETF from NYSE Arca, has also announced a future donation of 10% of its ETHW fund profits to Ethereum open-source developers.
• Cryptocurrency ETP provider 21Shares has filed an S-1 document for a Solana spot ETF.
• Lumio, a rollup technology suite, has announced the launch of its Layer 2 solution, which will eventually support parallel EVM, on Solana's public devnet.
• US Senator Cynthia Lummis has hinted at a major Bitcoin-related announcement this week in a tweet.
• Blockchain-based asset management firm Superstate has launched a new tokenized fund that profits from arbitrage trading in BTC and ETH.
• Vitalik Buterin praised the decentralized prediction platform Polymarket for its impressive performance and contribution to collective decision-making.
• TON chain active addresses have reached 373,000, marking a year-over-year increase of 5360%.
• The TON Foundation has partnered with Animoca Brands' Mocaverse to launch a $20 million ecosystem development fund.
• Bitcoin staking protocol Babylon plans to launch its mainnet between the end of July and early August.
• A new proposal on decentralized perpetual exchange GMX suggests changing the profit distribution model from "buy back ETH and distribute ETH" to "buy back GMX and distribute GMX".

III. Funding news

• zkRollup network Zircuit has completed its mainnet funding with investments from companies including Binance Labs, and Amber Group.
• NPC Labs, a Web3 gaming infrastructure company founded by a former Coinbase employee, has raised $21 million in two funding rounds.

IV. Regulatory news

• Arkham data shows that an address labeled "U.S. Government: Ryan Farace Seized Funds (3B2jE)" deposited 58.742 BTC (about $3.96 million) into a Coinbase Prime Deposit address.

V. Popular projects 

Market Overview

The approval of the ETH ETF has already been factored into market prices. The major upcoming events that could impact the market are:

1. Donald Trump and Elon Musk's participation in the BTC conference on July 27, might bring significant BTC-related announcements.

2. The expected BTC price drop due to the ongoing Mt. Gox repayment.

BTC faces resistance in the $71,000-$72,000 range. Currently, BTC is more likely to undergo a correction to the $64,000-$65,000 range to consolidate gains from $61,000 to $68,474.

With the approval of ETH spot ETFs, ETH may have the potential to approach or exceed its historical high, potentially nearing a price of $5,000, with a future goal of $9,000.

BTC Spot ETF Updates - July 22

Overall Data:

Total Net Inflows: $17.59 billion

Daily Net Inflows: $533.57 million

Single-Day Turnover: $1.62 billion

Proportion of BTC’s Market Value: 4.63%

Breakdown by ETF:

GBTC:

Net Asset Value: $18.57 billion (0%)

Single-Day Net Inflows: $0

Cumulative Net Outflows: $18.69 billion

Single-Day Turnover: $199 million

IBIT:

Net Asset Value: $22.72 billion (+2.37%)

Single-Day Net Inflows: $526.7 million

Cumulative Net Outflows: $19.5 billion

Single-Day Turnover: $927.78 million

FBTC:

Net Asset Value: $12.28 billion (+0.19%)

Single-Day Net Inflows: $23.72 million

Cumulative Net Inflows: $9.99 billion

Single-Day Turnover: $297 million

HEHE is up 87%

HEHE, a cat-themed memecoin on the Solana chain, has surged 87% in the last 24 hours. 

The total supply of HEHE tokens is 840 million, with 0% tax fees. On-chain liquidity stands at $1.09 million, with 24-hour trading volume of $5.95 million. HEHE has 2,760 holding addresses and a market cap of $21.96 million.

CAT is up 60%

CAT, a cat-themed memecoin on the Ethereum and BSC chains, has surged 60% in a day. 

With the slogan "The era of dogs is over, now it's $CAT's turn to rule," the token features 0% tax fees and locked liquidity (LP). 

On-chain liquidity stands at $859,000 (BSC), with 24-hour trading volume of $2.58 million. CAT has 9,276 holding addresses and a market cap of $18.04 million.

WAFFLES is up 30%

The price of WAFFLES, a cat-themed memecoin inspired by early Bitcoin investor Davinci Jeremie’s cat, has surged 30% in a day.

In 2013, Davinci Jeremie encouraged people on YouTube to invest at least $1 in Bitcoin when its price was below $100. 

The token's LP is locked, with on-chain liquidity of $1.12 million. There are 25,800 holding addresses, and the 24-hour trading volume is $2.68 million.

JLP has reached new highs

JLP, a liquidity provider token launched by Jupiter, has hit a new high of $3.27. 

Assets in the pool serve as counterparties for traders who borrow tokens to open leveraged positions. In return, liquidity providers earn fees from these leveraged trades, borrowing fees, and swap yields. Additionally, 75% of all trading fees are distributed to JLP users.

With a current APY of 35.37%, JLP is an excellent choice for those seeking exposure to BTC, ETH, and SOL while earning yields. Since its launch in February, JLP has risen by over 55%.

On-chain Daily 

1. PEEZY: PEEZY is a memecoin on the Ethereum chain launched on July 17, featuring Young Peezy, another character from Matt Furie's 'Boy’s Club' comic series.

Current Price: $0.000072804

Historical High: $0.00007595

Current Market Value: $11.8M

24-Hour Change: +94.42%

Official Twitter: https://x.com/peezycoineth](https://x.com/peezycoineth

2. DRAGGY: Similar in concept to Hoppy, Wat, and FLAPPY, DRAGGY is a memecoin featuring a character from 'The Night Riders' comic series. The project is now taken over by the community(CTO).

Current Price: $0.00001782

Historical High: $0.00003577

24-Hour Change: +48.43%

Current Market Value: $7.4M

Official Twitter: https://x.com/DraggyCTO](https://x.com/DraggyCTO

3. Boden: Boden is a political memecoin on the Solana chain. On July 22, TPUSA founder Charlie Kirk posted that US president Joe Biden was rumored to be in a sudden emergency, possibly dying or already dead. Biden also announced his withdrawal from the election via X.

Current Price: $0.02267

Current Market Value: $15.2M

24-Hour Change: +143%

Official Twitter: https://x.com/boden4pres](https://x.com/boden4pres

4. ikigai: ikigai is a memecoin on the Solana chain. "ikigai" is Japanese for things that make life worthwhile. Its logo features a round-headed transparent person accompanied by cats and dogs.

Current Price: $0.001711

Current Market Value: $1.5M

24-Hour Change: +42.52%

Official Twitter: https://x.com/ikigaionsolana](https://x.com/ikigaionsolana

5. BRETT: BRETT is a memecoin on the Base chain, featuring a character from Matt Furie's 'Boy’s Club'. This token aims to replace Pepe. 

Current Price: $0.1376

Current Market Value: $1.36B

24-Hour Change: -4.47%

Official Twitter: https://x.com/BasedBrett](https://x.com/BasedBrett

6. BENJI: BENJI is a memecoin on the Base chain, short for Basenji. It claims to be the oldest dog breed in history.

Current Price: $0.04

Current Market Value: $40M

24-Hour Change: -4.21%

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

Daily Rune Observation

Gas Fee Change:

The current BTC transaction fee is 5 satoshis/byte, with Bitcoin's price rebounding, but fees remain low.

Today's Popular Projects:

1. NICOLAS•PI•RUNES

   - Fully minted

   - Market Value: $5.56M

   - 24-Hour Trading Volume: $163,574

   - 24-Hour Change: +27%

   - Holding Addresses: 8,801

2. KAMALA•HARRIS

   - Fully minted

   - Market Value: $167K

   - 24-Hour Trading Volume: $12,838

   - 24-Hour Change: +15%

   - Holding Addresses: 311

3. RSM•RUNES•STATE•MACHINE

   - Fully minted

   - Market Value: $1.88M

   - 24-Hour Trading Volume: $5,903

   - 24-Hour Change: +11%

   - Holding Addresses: 3,011

Top Rune Projects Tracking:

- DOG•GO•TO•THE•MOON: Rune #3, airdrop Runes of Runestone

  - Current Price: 6.48 Sats

  - 24-Hour Change: -8.47%

  - Current Market Value: 6,490 BTC

- BAMK•OF•NAKAMOTO•DOLLAR: Synthetic dollar protocol on Bitcoin L1

  - Current Price: 7 Sats

  - 24-Hour Change: 0%

  - Current Market Value: 1,470 BTC

- RSIC•GENESIS•RUNE: Rune #8, from RSIC inscription mining project

  - Current Price: 5.4 Sats

  - 24-Hour Change: -5.9%

  - Current Market Value: 1,140 BTC

Performances of Today's Top Three Tracks

The whole market saw an overall decline, only the payment sector outperforms BTC and ETH.

Payment: An overall daily increase of 0.51%

Upward Projects:

1. ECOX: ECOx is a wallet allowing users to spend, send, save, and earn simultaneously. With ECOx , users can earn 5% annually on deposits and get 5% cash back on purchases at sites like Amazon and Uber. $ECOX is a secondary token designed to guide system governance and liquidity.

   - Daily Increase: +25%

   - Current Price: $0.117

   - Current Market Value: $40M

   - 24-Hour Trading Volume: $80K

2. RUBY: RUBY is a Web3 account and access layer focused on intent. Their services include account abstraction (AA), asset bridges (AB), access control (AC), and more, aimed at accelerating Web3 development and adoption.

   - Daily Increase: +17%

   - Current Price: $0.0309

   - Current Market Value: $258K

   - 24-Hour Trading Volume: $130K

3. ZPAU: ZPAU provides a range of end-to-end crypto payment solutions for online and in-store shopping. For retail customers, ZoidPay allows them to purchase products and services from online retailers like Amazon, Walmart, and eBay using cryptocurrencies.

   - Daily Increase: +12%

   - Current Price: $0.02

   - Current Market Value: $7.96M

   - 24-Hour Trading Volume: $419K

CeFi: An overall daily increase of 1.6%

Upward Projects:

1. HT: HT is Huobi Exchange’s platform token.

   - Daily Increase: +12%

   - Current Price: $0.64

   - Current Market Value: $103M

   - 24-Hour Trading Volume: $42M

2. ASD:ASD is AscendEx Exchange’s platform token.

   - Daily Increase: +3.7%

   - Current Price: $0.041

   - Current Market Value: $31M

   - 24-Hour Trading Volume: $1.38M

3. SOLO: SOLO is Sologenic’s platform token.

   - Daily Increase: +3.1%

   - Current Price: $0.105

   - Current Market Value: $42M

   - 24-Hour Trading Volume: $169M

Layer 1: An overall daily increase of  2.1%

Upward Projects:

1. CTK:Shentu is a cross-chain protocol with security scoring and decentralized reimbursement functions, used to build secure dApps.

   - Daily Increase: +27.2%

   - Current Price: $0.85

   - Current Market Value: $115M

   - 24-Hour Trading Volume: $34M

2. KAI: KardiaChain is one of Southeast Asia's leading blockchain ecosystems. Aiming for large-scale Web3 adoption, KardiaChain seeks to introduce products that will help millions of users into Web3 and blockchain technology.

   - Daily Increase: +7.6%

   - Current Price: $0.0031

   - Current Market Value: $15M

   - 24-Hour Trading Volume: $63K

3. NYM: NYM is a privacy platform providing robust network-level privacy against sophisticated end-to-end attackers. Nym protects network privacy by encrypting and relaying users' network traffic through a multi-layer network called mixnet.

   - Daily Increase: +4.4%

   - Current Price: $0.106

   - Current Market Value: $85M

   - 24-Hour Trading Volume: $1.6M

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