Daily market update (July 9, 2025, 10:20 AM)
ChainDD reported on July 9 that the comprehensive Dede Index and CoinMarketCap quotes are:
BTC is priced at $108,686.25, up about 0.41% in the last 24 hours;
ETH is priced at $2,572.54, up about 0.64% in the last 24 hours;
BNB is priced at $660.53, down about 0.13% in the last 24 hours;
DOGE is priced at $0.1703, up about 0.44% in the last 24 hours;
SOL is priced at $152.01, up about 0.14% in the last 24 hours.
Crypto market news
SEC considers establishing a new framework for expedited ETF approvals, draft may be announced this month
The U.S. Securities and Exchange Commission (SEC) is considering establishing a new framework to expedite the approval process, with a draft expected to be announced this month. Several crypto spot ETFs are expected to be approved in succession. Previously, crypto journalist Eleanor Terrett revealed that this framework may allow exchanges to directly list eligible crypto ETFs based on uniform standards, without having to submit 19b-4 filings one by one and wait for a 75-day approval cycle. Bloomberg ETF analyst James Seyffart expects that this new regulation could be officially implemented as early as September or October, at which point more crypto asset ETFs could see a wave of approvals.
Mizuho gives Circle stock a 'Underperform' rating, questioning USDC's medium-term growth expectations
Japan's Mizuho Securities initiates coverage of Circle (CRCL) stock with an 'Underperform' rating and a target price of $85, indicating significant downside potential compared to the current price of approximately $205. Mizuho analysts believe that the market has overestimated USDC's medium-term growth potential, with major risks including interest rate cuts, stagnation in USDC circulation, and high distribution costs. Circle's USDC market cap is approximately $62 billion, ranking second globally, only behind Tether.
Mizuho pointed out that Circle's projected revenue target of $4.5 billion in 2027 may be overestimated by 25%-30%. Although Circle has applied for a banking license and strengthened compliance transparency, new regulations such as the GENIUS Act may intensify competition. Bernstein, on the other hand, remains optimistic, setting a target price of $230, viewing its potential as the 'internet dollar network' of the next decade.
Trump: South Korea should pay for its own defense costs
On August 8 local time, U.S. President Trump stated in a Cabinet meeting at the White House that South Korea should pay for its military defense costs and hinted that South Korea needs to pay more for the U.S. troops stationed in South Korea. Trump stated that the presence of U.S. troops brings significant economic benefits to South Korea, while it is a huge loss for the U.S., which is very unfair.
Trump stated that he had previously gotten South Korea to agree to pay more for U.S. troops stationed in South Korea during his first term, but 'the previous President Biden canceled this agreement.' Trump stated that the U.S. provides supplies for the militaries of many very successful countries, but they should pay for their own troops. It is reported that approximately 28,500 U.S. troops are currently stationed in South Korea.
Trump: Losing the standard dollar is like losing a war
U.S. President Trump stated: 'If we lose the standard dollar, it's like losing a war. If people want to challenge the dollar, there will be a price to pay.'
Trump: August 1 is not a tariff extension; reaching an agreement takes too long
U.S. President Trump stated: 'August 1 is not a (tariff) extension, it may just be a clarification. The tariff deadline has always been August 1, and the motivation is to encourage countries to do business with the U.S. The statements regarding tariffs are selecting a figure that is both low and fair, with most tariff rates being lower than those imposed by the U.S. Reaching an agreement takes too long, it could take years to finalize an agreement, we are not being tough.'
U.S. Treasury Secretary Besant: $100 billion in tariffs have been collected so far
U.S. Treasury Secretary Besant stated that $100 billion in tariffs have been collected so far, and tariff revenue is expected to increase to $300 billion by the end of the year.
Bloomberg: Tether holds $8 billion worth of gold in a secret vault in Switzerland
Stablecoin issuer Tether Holdings SA has its own vault in Switzerland, holding $8 billion worth of gold, and is looking to expand its gold reserves.
This cryptocurrency company based in El Salvador claims to currently hold nearly 80 tons of gold, most of which is held directly by Tether, making it one of the largest holders of gold globally, besides banks and nations.
Tether CEO Paolo Ardoino stated: 'We have our own vault. I believe it is the safest vault in the world.' The facility is located in Switzerland, but for security reasons, the company refused to disclose its exact location and establishment date.
Musk's establishment of a new party raises concerns among investors, but is supported by Ark Invest founder Cathie Wood
After Tesla's stock price suffered severe fluctuations on Monday, long-time supporter of Musk, Ark Invest founder Cathie Wood, defended him again. She pointed out that Musk has recently refocused on the company's operations, especially after personally taking over sales affairs in the U.S. and Europe, indicating that his investment in the company is deepening during this critical period. 'When he truly focuses on something, he usually succeeds in completing the task. Therefore, I believe he is much more focused now compared to the past when he was busy in the White House all day.'
