Major Events in the Crypto World: Market Trends and Important Updates
1. Market Dynamics
U.S. stocks hit new highs, with Nvidia's market value surpassing $4 trillion. $BTC follows the rise of U.S. stocks, breaking through $112,000, but altcoins lag behind, with $BTC dominating the market.
Analysis: $BTC is highly correlated with U.S. stocks, and altcoins are performing weakly, so caution is needed for market correction risks.
2. Ethereum ($ETH) Ecosystem Booming
$ETH is rising, and the $ETH/$BTC exchange rate is strengthening, driving up ecosystem projects like $ETHFI, $UNI, $AAVE, and $Neiro.
Latest News: The U.S. SEC has delayed the approval of BlackRock's spot $ETH ETF physical redemption method but confirmed the physical redemption amendment for Bitwise's spot $BTC and $ETH ETFs. The expectations for the $ETH ETF still support market sentiment.
Analysis: The $ETH ecosystem benefits from DeFi enthusiasm and ETF progress, but attention is needed on the resistance level of $2,700-$2,850.
3. DeFi Turbulence: $GMX Hacked
$GMX (on-chain contract exchange) was attacked by hackers, losing about $42 million, with the vulnerability stemming from a V1 design flaw. Hackers laundered funds across chains, with some converted to $DAI. $GMX has proposed a 10% bounty scheme, which has yet to receive a response.
Analysis: DeFi security issues are prominent; investors need to choose protocols cautiously.
4. $BN Alpha and $PumpFun Updates
$BN Alpha's $BR plummeted by 50%, with project operations suspected to be harvesting, similar to the $ZKJ model.
$PumpFun plans to publicly raise 33% on July 12 (not open to U.S. and European users), with a total market cap of $4 billion. $BN will list perpetual contracts on July 10 before the market opens, while Meme coins on the $SOL chain (such as $Useless, $Chillhouse) are rallying.
Analysis: The enthusiasm for Meme coins is high, but project risks are significant, requiring vigilance against manipulation.
5. Macroeconomics and Regulation
The probability of the Federal Reserve maintaining interest rates in July is 93.3%, with market expectations stable.
The U.S. SEC statement: Blockchain technology opens new models for tokenizing securities, with a more open regulatory attitude.
Analysis: A stable interest rate environment is favorable for risk assets, and the trend of tokenization may promote the expansion of blockchain applications.
Summary: $BTC and $ETH lead the way, with risks in DeFi and Meme coins coexisting, while regulatory progress injects confidence into the market. Investment requires caution and attention to macro and technical changes!
