● U.S. June ADP employment decreased by 33,000
According to PANews, U.S. June ADP employment decreased by 33,000, marking the largest drop since March 2023.
● SEC Chairman: Stock tokenization is on the rise
According to ChainCatcher, SEC Chairman Paul Atkins discussed the rise of stock tokenization on CNBC. He stated that stock tokenization technology will make private markets more accessible to the public. He also mentioned that the SEC will study SPAC rules to regulate private markets and enhance their accessibility.
● SEC halts Grayscale Digital Large Cap Fund's conversion to ETF plan
According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) has halted the Grayscale Digital Large Cap Fund's plan to convert to an exchange-traded fund (ETF), placing it under further review.
The fund was originally planned to be listed on the New York Stock Exchange Arca platform, becoming a spot ETF covering various assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA).
● Trump: Vietnam will pay 20% tariff on exports to the U.S., fully opening the market to America
According to ChainCatcher, U.S. President Trump stated that the United States has reached a trade agreement with Vietnam. Vietnam will pay 20% tariffs on goods entering the U.S. and impose a 40% tariff on transshipped goods.
In return, Vietnam will fully open its market to the U.S., allowing American products to be sold at zero tariffs. Trump believes that SUVs perform well in the U.S. market and will be a great addition to the Vietnamese market.
According to ShenChao TechFlow, on July 2, Goldman Sachs's research report indicated that if the Federal Reserve shifts to a dovish stance, four market scenarios could emerge: pure dovish policy shock, declining growth expectations, coexistence of dovish and declining growth, and dovish and growth rising in parallel.
Analysis shows that falling U.S. Treasury yields, strengthening Euro/Yen/Swiss Franc, and rising gold prices are the most stable trends across scenarios, while U.S. stock performance depends on growth prospects. The "dovish + growth rising" scenario is most favorable for risk assets. If summer employment and inflation data worsen, it may reignite growth concerns. The market has begun pricing in the Federal Reserve's easing policy, and future trends will depend on economic data performance.
● Traders increase bets on at least two rate cuts by the Fed before the end of 2025
According to BlockBeats, on July 2, following the release of ADP data, traders increased their bets on at least two rate cuts by the Fed before the end of 2025. U.S. federal funds futures raised the likelihood of a rate cut in July from about 20% before the data release to 27.4%.
● Current mainstream cryptocurrency funding rates return to neutral
According to ChainCatcher, Coinglass data shows that current funding rates for mainstream CEX and DEX have basically returned to neutral, no longer exhibiting an overall bearish sentiment. Funding rates are used to maintain the balance between contract prices and the underlying asset prices. A funding rate of 0.01% is the baseline, greater than 0.01% indicates a bullish market, and less than 0.005% indicates a bearish market.
