Market Dynamics:
The Bitcoin trend fluctuates in tandem with the US stock market, with the current market focus on the compliance sector. The US stock market has recently shown a volatile trend, and Trump has extended the tariff deferral period to August 1.
Market Highlights:
1. The public chain Ethereum (ETH) is rising, with the ETH/BTC exchange rate continuing to strengthen. This is mainly due to the relaxation of regulatory environments in stablecoins, DeFi, and RWA sectors.
2. The platform token HSK is increasing. After Hong Kong opened stablecoin licensing, related cryptocurrency businesses saw significant increases. HashKey, as one of the only two compliant exchanges in Hong Kong, holds over 80% market share. The employee salary payout at the beginning of each month is a major source of selling pressure.
3. On-chain US stocks MCDX surged tenfold after a spike, with Gate exchange attracting attention due to insufficient liquidity. Additionally, Bybit has also launched on-chain US stock products for XStock.
4. The stablecoin USDF experienced a significant de-pegging drop; this stablecoin is issued by DWF, which claims that 89% of its underlying assets are stablecoins and Bitcoin.
5. The Trump family's DeFi project WLFI received a $250 million investment from BN Lab and is likely to launch on Binance (BN).
