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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