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 in 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 the underperformance of altcoins poses a risk of market correction.
2. Ethereum (SETH) Ecosystem Booms
SETH rises, with the $ETH/$BTC exchange rate strengthening, leading other ecosystem projects like $ETHFI, SUNI, $AAVE, and $Neiro to follow suit.
Latest news: The U.S. SEC has delayed the approval of BlackRock's spot SETH ETF redemption method, but confirmed the physical redemption amendment for Bitwise's spot $BTC and $ETH ETFs. The expectation of the SETH ETF still supports market sentiment.
Analysis: The SETH ecosystem benefits from the DeFi hype and ETF progress, but the resistance level of $2700-$2850 needs attention.
3. DeFi Turmoil: $GMX Hacked
$GMX (on-chain contract exchange) was hacked, resulting in a loss of approximately $42 million, with the vulnerability stemming from a V1 design flaw. The hacker laundered funds through cross-chain methods, with some converted to $DAl. $GMX has proposed a 10% bounty plan but has not received a response.
Analysis: DeFi security issues are prominent, and investors should carefully choose protocols.
4. $BN Alpha and $PumpFun Dynamics
SBN Alpha's SBR plummeted by 50%, with project operations suspected of being a scam, similar to the $ZKJ model. $PumpFun plans to publicly raise 33% on July 12 (not open to users in the U.S. and Europe), with a total market value of $4 billion. $BN will launch perpetual contracts before trading on July 10, while meme coins on the $SOL chain (such as $Useless, $Chillhouse) are rallying.
Analysis: Meme coins are highly popular, but project risks are significant, and manipulative behaviors should be watched closely.
5. Macroeconomics and Regulation
The probability of the Federal Reserve maintaining interest rates in July is 93.3%, and market expectations are stable. The U.S. SEC stated that blockchain technology opens new models for securities tokenization, indicating a more open regulatory attitude.
Analysis: A stable interest rate environment is beneficial for risk assets, and the trend of tokenization may promote the expansion of blockchain applications.
Summary: SBTC and SETH lead the way, while DeFi and meme coin risks coexist, with regulatory progress injecting confidence into the market. Investment should be cautious, paying attention to macroeconomic and technical changes!
