When volatility becomes the norm, consensus is forged in silence, reaching new highs.
1. Bitcoin: Key level battle, mining companies hoarding coins is becoming the norm
Price stalemate: BTC currently at 108,000, with the 4-hour chart constrained by strong resistance at 110,500 and short-term support at 107,200. The technical outlook shows that the upward trend line has not been broken, but momentum indicators reveal fatigue, and the narrowing Bollinger Bands signal an imminent shift—breaking 110,600 or falling below 107,000 will determine the direction.
Mining companies 'reluctant to sell': Publicly listed mining firms saw a surge in May production but collectively hoarded coins:
MARA produced 950 BTC, with holdings reaching 49,179;
CleanSpark produced 694 BTC, selling only 293;
Riot Platforms has almost entirely sold 514 BTC for $51.3 million, but their long-term reserve strategy remains unchanged.
Sovereign reserves heating up: El Salvador's holdings exceed 6,228 BTC; American Bitcoin, backed by the Trump family, holds 215 BTC, claiming 'Bitcoin is a core asset for the long term.'
Ethereum: The wave of staking reshapes value, with institutions betting on 'yield-bearing assets'
Staking revolution: 28% of ETH in the network is staked, hitting a historic high. Liquid staking protocols eliminate liquidity dilemmas, allowing users to earn returns while participating in DeFi, driving a 35% increase in staking rates over six months.
Institution 'MicroStrategy Moment':
Publicly listed company BitMine raises $250 million specifically to purchase ETH, emulating Bitcoin reserve strategies;
SharpLink Gaming will stake 198,000 ETH 100%, with ETH recognized as a 'cash flow asset' by institutions.
Technical breakout: ETH stabilizes at 2,462, with exchange supply dropping to 17.1 million coins. If it breaks 2,550, the short-term target is 2,650; if it falls below 2,420, it may retrace to 2,200.
Web3 and regulation: A tale of two extremes
Solana leads DEX explosion: Q2 on-chain Bitcoin trading volume exceeds $8.47 billion, with Orca capturing 50% market share. Low fees and high throughput drive the penetration of Web3 exchanges.
Regulatory crackdown:
Norway plans to investigate the 'mining ban' in the fall to alleviate power shortages;
Ukraine arrests a hacker who caused $4.4 million in damages by hijacking 5,000 servers for mining.
Policy benefits: Ohio passes the Bitcoin Rights Act, ensuring self-custody and mining freedoms, establishing a $200 tax-free transaction limit.
New forces: Lightchain AI's ambitions
Decentralized AI platform Lightchain AI will launch its mainnet at the end of July, drawing attention with three major initiatives:
Cancel team allocations, converting 5% of tokens entirely to a development incentive fund;
Establish a $150,000 dApp innovation pool to support ecological applications;
Integrating zero-knowledge proofs to provide verifiable privacy for AI tasks.
Tang Seng's viewpoint:
Bitcoin's sideways movement is a breather for institutions, not a turning point—mining companies are hoarding coins, and state reserves form a 'non-selling consensus,' with 100,000 becoming the new baseline. The soaring Ethereum staking rate reveals deeper transformations: ETH is evolving from a speculative asset to 'digital treasury bonds,' with institutions building a yield matrix through staking and re-staking. The paradox of Web3 exchanges exploding while Momint collapses warns: the next round of reshuffling lies not in technology but in sustainable models.
If Bitcoin fails to break through, will Ethereum reverse its fortunes with staking yields? Can Lightchain AI's ZKP+AI shake Solana's DEX throne?
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