Today's news highlights:
The Shanghai State-owned Assets Supervision and Administration Commission held a group study meeting to discuss the development trends and response strategies of cryptocurrencies and stablecoins.
Sentora: The holding cost of about 4.1 million Ethereum addresses is around $3100, which may lead to significant sell-offs.
Arthur Hayes: Previously somewhat pessimistic about the market due to TGA, the market is about to witness a wave of 'altcoin season'.
Upbit will launch the ENA token in the KRW, BTC, and USDT markets.
HYPER trading volume on Upbit ranks first, exceeding the second place by nearly five times, with HYPER up 455% in 24 hours.
A user suffered a single loss of $88.55 million in a BTC/USDT trade.
Whale AguilaTrades has increased its BTC long position to $347 million, currently with an unrealized profit of $20.11 million.
Ethereum spot ETF saw a total net inflow of $383 million yesterday, the second highest in history.
Regulation/Macro
Robinhood launched ETH and SOL staking services for US users, with a minimum participation threshold of $1.
According to Cryptoslate, Robinhood launched ETH and SOL staking services for US customers on July 10, allowing users to earn staking rewards with a minimum of $1 in cryptocurrency. The new feature expands its staking service beyond Europe, allowing US customers to participate in blockchain validation without directly running validators. For Ethereum staking, Robinhood uses batch processing to pool customer tokens to meet the minimum validator requirement of 32 ETH, with users receiving 50% to 100% of the protocol rewards. SOL staking service is also live, with Robinhood managing the technical process to simplify retail participation. However, due to regulatory restrictions in various states, residents of California, Maryland, New Jersey, New York, and Wisconsin cannot currently use the staking service. Starting in October 2025, Robinhood plans to charge a 25% commission on staking rewards, in addition to third-party service provider fees.
US media: Trump plans to impose a blanket tariff of 15% or 20% on most trading partners, dismissing inflation concerns.
According to Jinshi, Trump stated in an NBC interview on Thursday that he plans to impose a blanket tariff of 15% or 20% on most trading partners, dismissing concerns that further tariffs could negatively impact the stock market or drive inflation. 'All remaining countries will pay, whether it's 20% or 15%. We will solve this issue now. I believe these tariffs are welcome. The stock market has reached new highs today,' Trump said. 'Not everyone needs to receive a letter. You know, we are just setting tariffs,' Trump said. The current blanket tariff in the US is 10%.
REX Shares has submitted application documents related to a TRON leveraged ETF to the SEC.
According to The Block, REX Shares has submitted application documents for the 'T-REX 2X Long TRON Daily Target ETF' to the SEC. The document states that the fund 'aims to achieve daily leveraged investment returns', significantly differing from other ETFs. The document indicates: 'As a result, the risk of this fund may be higher than similar products that do not adopt a leveraged strategy, as its goal is to amplify (200%) the daily performance of TRON.' The document also mentions that 'the fund will utilize total return swap agreements to gain risk exposure to ETFs or other exchange-traded products that invest in TRON spot or TRON derivatives (such as swaps or futures contracts).' The fund is initiated by REX Shares, LLC, and no custodian has been listed yet.
The Shanghai State-owned Assets Supervision and Administration Commission held a group study meeting to discuss the development trends and response strategies of cryptocurrencies and stablecoins.
The Shanghai State-owned Assets Supervision and Administration Commission held a group study meeting on July 10, focusing on the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the State-owned Assets Supervision and Administration Commission, pointed out the need to fully implement the spirit of the seventh plenary session of the 12th Municipal Committee, adhere to innovation-driven development, maintain keen awareness of emerging technologies, and strengthen research and exploration of digital currencies. It is necessary to adhere to the integration of production and data, exploring the application of blockchain technology in cross-border trade, supply chain finance, and asset digitization. It is also crucial to enhance strategic agility and proactive capabilities, further promote the deep integration of technology, finance, and industry, and better leverage the important role of state-owned assets and enterprises in technological innovation, industrial control, and safety support, making new and greater contributions to the construction of Shanghai as a 'five-center'.
Viewpoint
Sentora: The holding cost of about 4.1 million Ethereum addresses is around $3100, which may lead to significant sell-offs.
According to Sentora data, Ethereum faces little resistance between $3000 and $3100, but if it breaks $3100, a massive sell-off may occur. The reason is that about 4.1 million addresses holding ETH have been in a loss state for the past six months, and the price reaching $3100 will break even.
Analysis: Although Bitcoin has reached a new high, the market has not fully digested the positives, and there is still room for further price increases.
Matrixport released a report this week stating that Bitcoin prices have broken historical highs, with this rise not driven by leverage but primarily by ETF capital inflows and corporate demand. Data shows that Bitcoin ETFs have attracted a cumulative $49 billion in funds, with institutions steadily entering the market. Additionally, July has historically been a strong month for Bitcoin, coupled with Washington's 'Crypto Policy Week', the market welcomes a resonance of policy and macroeconomic positives. The review progress of the (GENIUS Act) in the US Congress has accelerated, and it is expected to positively impact stablecoin regulation and digital asset promotion. On the Federal Reserve side, recent CPI data releases have all been below market expectations, easing inflationary pressures. Meeting minutes from June indicate that Federal Reserve officials tend to initiate rate cuts this year, with the market expecting possibly two rate cuts by the end of the year, with the first cut potentially in September. If next week's inflation data continues to show moderate results, Fed Chair Powell may face greater pressure to cut rates. Matrixport states that although prices have reached new highs, the capital and position structure indicates that the market has not fully digested these positives, and there is still room for further upward movement.
Arthur Hayes: Previously somewhat pessimistic about the market due to TGA, the market is about to witness a wave of 'altcoin season'.
BitMEX co-founder Arthur Hayes tweeted that he was previously somewhat pessimistic about the market due to the US government's 'saving money' (TGA fund replenishment) issue, but the situation has now changed. Bitcoin has broken historical highs, and trading volume is also very strong; Ethereum follows closely and may perform even better. He believes the market is about to witness a wave of 'altcoin season'. Additionally, he mentioned that the market expects Trump may adjust tariff policies, which boosts investor confidence.
Project updates
Grayscale updated its 'proposed asset list', adding 31 tokens for consideration.
Grayscale updated its 'proposed asset list' and 'existing product holding asset list', including new projects under consideration: 1. Smart contract platforms: Aptos, Arbitrum, Celo, Mantle, Toncoin, MegaETH, Monad; 2. Financial: Aerodrome, Binance Coin, DeepBook, Ethena, Euler, Hyperliquid, Jupiter, Kamino Finance, Lombard, Maple Finance, Morpho, Pendle, Plume Network; 3. Consumer and culture: Bonk, Playtron; 4. Artificial intelligence: Aixbt, Grass, Prime Intellect, Story, Virtual; 5. Utilities and services: Jito, LayerZero, Walrus, Wormhole. Grayscale indicates that this list will be updated quarterly, and whether assets are included will depend on internal controls, custody, regulation, and other considerations, and users should not view the list as a commitment to future products.
The winners of the USD1 $100 million incentive campaign are EGL1, Liberty, Tagger, and Lorenzo.
According to official news from BUILDon, the USD1 $100 million incentive campaign has created approximately $299.1 billion in USD1 trading volume during the campaign period, accounting for over 70% of the total USD1 trading volume on the BNB Chain. The winners include: emerging meme project categories EGL1 and Liberty; existing project categories: Tagger and Lorenzo. The event is co-hosted by BUILDon, World Liberty Finance, PancakeSwap, and Four Meme.
Users holding more than 190 Binance Alpha points can claim an airdrop of 500 TALE tokens.
Binance announced that it will be the first trading platform to launch PrompTale AI (TALE), with trading officially starting at 18:00 Beijing time on July 11, 2025. Additionally, users holding at least 190 Binance Alpha points can claim an airdrop of 500 TALE tokens.
Sunrise has opened the $RISE airdrop claim channel, which needs to be completed by July 15 and will have its TGE in Q3.
The dedicated DA layer protocol Sunrise announced that the $RISE airdrop claiming event has launched, with eligible users required to complete the claim before 7:59 Beijing time on July 15. The airdrop targets include Gluon / UnUniFi (GUU) stakers, Celestia / LST ($milkTIA + $stTIA) stakers, Sunrise testnet users, Galxe/Cubquest/Intract task participants, as well as multiple NFT holders, with the specific list confirmed through snapshots. The claimed $RISE tokens will not be transferable and tradable until the mainnet and TGE in the third quarter of 2025. It is reported that the dedicated DA layer protocol Sunrise announced the completion of a $3 million seed round financing on June 4, with investments from Decima, Animoca Brands Japan, Hyperithm, Cogitent Ventures, MZ Web3 Fund, V3V Ventures, Connectico Capital, MH Ventures, etc.
Upbit will launch the ENA token in the KRW, BTC, and USDT markets.
According to official announcements, South Korean crypto exchange Upbit will launch the ENA token in the KRW, BTC, and USDT markets.
Important data
HYPER trading volume on Upbit ranks first, exceeding the second place by nearly five times, with HYPER up 455% in 24 hours.
According to Upbit platform data, the HYPER/KRW trading pair ranks first with a trading volume of 26,019.7 billion KRW, approximately five times the trading volume of the second-ranked XRP/KRW (5448.97 billion KRW). According to Binance market data, HYPER is up 455% in 24 hours, currently quoted at $0.649, with a peak of $0.6899. Previously, it was reported that Upbit would launch HYPER in the KRW market and BABY in the BTC and USDT markets.
A TRUMP team-associated wallet deposited TRUMP tokens valued at $7.03 million into Coinbase.
According to Onchain Lens monitoring, a wallet associated with the TRUMP team deposited 722,010 TRUMP (valued at $7.03 million) into Coinbase.
Over the past 24 hours, liquidations across the network reached $1.06 billion, with a user suffering a single loss of $88.55 million in a BTC/USDT trade.
According to Onchain Lens monitoring, over the past 24 hours, the total liquidation amount across the network reached $1.06 billion, with one user suffering a single loss of $88.55 million in a BTC/USDT trade on the HTX platform.
Whale AguilaTrades has increased its BTC long position to $347 million, currently with an unrealized profit of $20.11 million.
According to on-chain analyst @ai_9684xtpa, whale AguilaTrades reopened a BTC 20x long position on July 9, and over the past day, he has increased his position to 3000.35 BTC, valued at $347 million, with an opening price of $109,000.3 and a liquidation price of $108,430, currently yielding an unrealized profit of $20.11 million.
A new wallet opened a 20x leveraged short position on 1021 bitcoins, valued at approximately $120.3 million.
According to Lookonchain monitoring, someone created a new wallet address 0x89Da and withdrew 12 million USDC from Bybit to the Hyperliquid exchange. Subsequently, the address used these funds to open a 20x leveraged short position on 1021 bitcoins, totaling approximately $120.3 million.
GMX hacker has returned $10.49 million in FRAX, with $32 million exchanged for ETH yielding $3 million in profit.
According to Lookonchain monitoring, the GMX protocol previously suffered a hacker attack, and the hacker has chosen to return $42 million in stolen assets and accept a $5 million white-hat bug bounty. Currently, $10.49 million in FRAX has been returned. Meanwhile, the hacker exchanged another $32 million in assets for 11,700 ETH, currently valued at about $35 million, with a profit of about $3 million. It is still unclear whether the hacker will return all 11,700 ETH (valued at...
Options with a nominal value exceeding $5 billion for BTC and ETH will expire today.
Greeks.Live macro analyst Adam posted on X platform that today, 37,000 Bitcoin options will expire, with a put/call ratio of 1.05, and the maximum pain point is at $108,000, with a nominal value of $4.3 billion. At the same time, 240,000 Ethereum options will also expire, with a put/call ratio of 1.11, and the maximum pain point at $2,600, with a nominal value of about $710 million.
Ethereum spot ETF saw a total net inflow of $383 million yesterday, the second highest in history.
According to SoSoValue data, yesterday (Eastern Time July 10), the total net inflow of Ethereum spot ETFs was $383 million. The Ethereum spot ETF with the highest net inflow yesterday was Blackrock's ETF ETHA, with a net inflow of $301 million in a single day, bringing the historical total net inflow of ETHA to $6.154 billion. Following closely was Fidelity's ETF FETH, with a net inflow of $37.2762 million yesterday, bringing the historical total net inflow of FETH to $1.814 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is $12.504 billion, with an ETF net asset ratio (market value compared to Ethereum's total market value) of 3.67%, with a historical cumulative net inflow reaching $5.101 billion.
The Bitcoin spot ETF saw a total net inflow of $1.179 billion yesterday, the second highest in history.
According to SoSoValue data, yesterday (Eastern Time July 10), the total net inflow of Bitcoin spot ETFs was $1.179 billion. The Bitcoin spot ETF with the highest net inflow yesterday was Blackrock's ETF IBIT, with a net inflow of $448 million in a single day, bringing the historical total net inflow of IBIT to $53.451 billion. Following closely was Fidelity's ETF FBTC, with a net inflow of $324 million yesterday, bringing the historical total net inflow of FBTC to $18.14 billion.
Financing/acquisition
Robinhood's CEO's AI math company Harmonic completed $100 million in Series B financing, reaching a valuation of $875 million.
According to Bloomberg, Harmonic, the AI math company co-founded by Robinhood CEO Vlad Tenev, announced the completion of $100 million in Series B financing, with a valuation of $875 million. This round was led by Kleiner Perkins, with participation from Sequoia Capital, Index Ventures, and Paradigm. The company was founded by Tenev and former Helm.ai CEO Tudor Achim in 2023, aiming to build an artificial intelligence system capable of solving complex mathematical problems, creating what the company calls 'mathematical superintelligence'. Harmonic plans to open its flagship AI model Aristotle to researchers and the public later this year.
Pump.fun has acquired the Solana on-chain wallet tracker Kolscan.
According to The Block, Pump.fun announced the acquisition of the Solana on-chain wallet tracker Kolscan, marking the platform's first acquisition transaction. Kolscan primarily provides real-time profit and loss data and performance rankings for on-chain traders, though the acquisition amount has not been disclosed. Pump.fun co-founder Alon Cohen stated that in the future, Kolscan's features will be deeply integrated into the platform, including improved copy trading analysis modules and ranking systems. Cohen emphasized that after the acquisition, all of Kolscan's services will become free, having previously accumulated tens of thousands of users.
The game development platform Remix completed a $5 million seed round financing, with participation from Coinbase Ventures and others.
The game development platform Remix completed a $5 million seed round financing, led by Archetype, with participation from Variant, Coinbase Ventures, Lemniscap, and Zynga co-founder Justin Waldron, bringing the total financing amount to $6.75 million. The platform combines AI code generation with hyper-casual games, and currently, 570,000 players have experienced 800 games on the platform. Remix, formerly known as Farcade, is characterized by allowing creators to quickly generate games through text prompts and enabling remixes of existing games. The platform plans to monetize through in-game ads and item sales and will soon launch on-chain monetization tools. It currently supports Telegram (based on TON network) and World App, with plans to launch on the new Coinbase wallet.
NEXBRIDGE completed an $8 million Series A financing, led by Fulgur Ventures.
NEXBRIDGE and its trading platform NEXPLACE completed an $8 million Series A financing led by Fulgur Ventures, aiming to expand the compliant digital asset issuance and trading ecosystem based on the Bitcoin Liquid network. NEXBRIDGE has previously launched the first compliant digital asset USTBL backed by US Treasury bonds, and this round of financing will accelerate the launch of more assets and cross-licensed platform distribution. The two platforms will fully integrate in the second half of 2025, enhancing regulatory compliance and asset transparency structure.
Institutional increase
K Wave Media secured $1 billion in capital to drive its Bitcoin vault strategy.
According to GlobeNewswire, K Wave Media (Nasdaq code: KWM) announced that it has secured a total capital capacity of $1 billion to advance its Bitcoin vault strategy. The company signed a $500 million convertible note agreement with Anson Funds, with the first issuance of $15 million in senior secured convertible notes and warrants, with at least 80% of the net proceeds used to purchase Bitcoin. Additionally, K Wave Media has completed the acquisition of the first 88 bitcoins and plans to expand its holdings to 10,000 bitcoins. The company stated that this move will not only enhance its financial strength but also promote the deep integration of its Korean cultural content and Web3 economy.
KULR purchased 90 bitcoins for about $10 million.
KULR purchased 90 bitcoins for about $10 million, with a unit price of approximately $108,884. As of July 9, 2025, KULR holds a total of 1,021 bitcoins, with a cumulative purchase amount of about $101 million, and an average purchase price of approximately $98,627, with a Bitcoin yield of 291% this year.
Publicly listed company SharpLink Gaming today increased its holdings by 12,648 ETH, valued at $35.31 million.
According to on-chain analyst Yu Jin, publicly listed company SharpLink Gaming (Nasdaq code: SBET) continued to purchase 12,648 ETH (valued at $35.31 million) five hours ago. Since adopting a similar ETH reserve strategy as MicroStrategy in early June, the institution has accumulated 222,000 ETH within a month, with an average purchase cost of about $2617, currently yielding an unrealized profit of $72.62 million.
Remixpoint purchased 116.72 bitcoins, with total holdings exceeding 1168 coins.
Remixpoint announced today the purchase of 116.72016341 bitcoins for 17.135 million yen each, totaling 2 billion yen, in accordance with the previously issued use of funds for the 4th round of unsecured private placement bonds. The company's total bitcoin holdings currently amount to 1168.28219616 coins, with an average purchase price of about 14.6579 million yen. Earlier news indicated that Remixpoint raised 31.5 billion yen to purchase bitcoin, planning to increase its holdings to...
