Headlines
▌XRP's total market cap has risen to $167 billion, becoming the third-largest cryptocurrency
XRP surged to $2.84, with a weekly increase of 27.9%, and its market cap climbed to $167 billion, surpassing Tether to become the third-largest cryptocurrency. In the past 24 hours, XRP's trading volume reached $14.24 billion, with an intraday price range between $2.61 and $2.91.
▌PUMP pre-contract briefly surpassed $0.0072, with a 24-hour increase of 23.79%
According to market data, PUMP briefly surpassed $0.0072 in the Hyperliquid pre-contract market, currently reported at $0.006837, with a 24-hour increase of 23.79%. The open contract volume is now $344 million, with a 24-hour contract trading volume of $622 million. Additionally, in the Binance pre-contract market, it briefly surpassed $0.0071, currently reported at $0.00678, with a 24-hour trading volume of $1.17 billion.
Market
As of the time of publication, according to CoinGecko data:
BTC price is $117,611, with a 24-hour change of -0.1%;
ETH price is $2,951.81, with a 24-hour change of -0.3%;
BNB price is $687.20, with a 24-hour change of -1.0%;
SOL price is $161.21, with a 24-hour change of -1.4%;
DOGE price is $0.1987, with a 24-hour change of -1.9%;
XRP price is $2.76, with a 24-hour change of -2.1%.
TRX price is $0.3024, with a 24-hour change of -0.6%.
Policy
▌Tornado Cash co-founder Roman Storm will stand trial in New York on Monday
According to Decrypt, former SEC Chairman Jay Clayton is currently overseeing the trial of Tornado Cash developer Roman Storm, which will begin on Monday, on charges of conspiracy to launder money and evade US sanctions.
▌French President: Expresses 'strong' opposition to the US's decision to impose tariffs
French President Macron stated that France is aligned with the European Commission President and strongly opposes the US's announcement of a comprehensive 30% tariff on EU exports starting August 1. Prior to this statement, the European Commission had engaged in intensive negotiations with the US over the past few weeks, during which solid proposals were made in good faith. Based on European unity, the EU Commission must firmly defend EU interests. This particularly means that if an agreement cannot be reached before August 1, preparations for credible countermeasures must be accelerated, mobilizing all available means, including (anti-coercion tools). On this basis, France will fully support the EU Commission's position in negotiations. Negotiations will intensify in order to reach an agreement acceptable to both sides before August 1, reflecting the mutual respect that should exist between the EU and the US as trade partners, and safeguarding the common interests and close value chains of both parties.
▌Two Democratic congresswomen have launched 'Anti-Crypto Corruption Week' to oppose three cryptocurrency bills supported by the Republican Party
California Democratic Congresswoman Maxine Waters and Massachusetts Democratic Congresswoman Stephen Lynch announced July 14 as 'Anti-Crypto Corruption Week'. During this period, Democrats will oppose three cryptocurrency bills supported by the Republican Party: the 'CLARITY Act', the 'GENIUS Act', and a proposed ban on central bank digital currencies. Waters pointed out that the primary concern is the lack of regulations preventing former President Trump from engaging in lucrative cryptocurrency business during his term.
Applications
▌Aethir: Node license transfer system is online
Aethir officially announced on platform X that the Checker Node license transfer system is now online. Users can officially transfer their Checker Node NFT licenses on-chain. It is worth noting that rewards before the transfer will remain in the original wallet: tasks completed on the day of the transfer will be voided by the original wallet; rewards will be distributed proportionally based on the base rewards within the quarter. Checking nodes will automatically release delegation during the transfer process. Users can transfer licenses through platforms such as OpenSea, NodeStore.com, node.impossible.finance, etc.
Cryptocurrency
▌Bitcoin mining heat map shows that the US currently leads, but Russia is experiencing rapid growth
According to the global Bitcoin mining heat map released by hashrateindex.com, the US currently has a hashrate of 323.4 EH/s; although its share of hashrate has slightly declined, it still maintains the overall leading position. Russia's share grew by 6.12%, soaring from 15.652% to 16.61%, currently holding an original hashrate of up to 150 EH/s, ranking second. China's share slightly increased from 13.727% to 13.84%, currently holding a hashrate of 125 EH/s, ranking third. Paraguay's share accounts for 3.87% of the global total, equivalent to 35 EH/s; the UAE's share is 3.54%, with a hashrate of about 32 EH/s.
▌The stablecoin market increased by $2.7 billion in the past week
Stablecoins increased by $2.7 billion within a week, pushing the market size to $257.7 billion, with USDT firmly in the lead, but USDC saw the largest increase. • USDC supply increased by $1.31 billion. • USDT reached $160.15 billion. • Tron’s USDD increased by 19.28%.
▌PUMP pre-contract increased over 14% in 2 hours, currently reported at $0.006110
On July 13, according to market data, the PUMP pre-contract price increased over 14% in 2 hours, currently reported at $0.006110. Earlier, the public sale of PUMP tokens worth $500 million was completed in just 12 minutes.
▌A certain address has shorted PUMP with unrealized losses exceeding $1.3 million, with a liquidation price of $0.00889
According to Arkham monitoring, a certain address has shorted PUMP and has unrealized losses exceeding $1.3 million. This address holds the largest on-chain short position in PUMP, amounting to $8.5 million, with unrealized losses (uPnL) currently reaching $1.32 million. The opening price was $0.005362, and the liquidation price is $0.00889.
▌Bybit: The PUMP token sale experienced oversubscription due to unexpected API delays
According to an announcement by Bybit, the PUMP token sale has ended, and the allocation results are under review due to oversubscription. Due to unexpected API delays, there was oversubscription in this issuance; some users successfully received token allocations, while others did not. For users who submitted subscriptions but whose funds remain frozen, the final allocation results are currently being verified. Users who did not receive allocations will be fully refunded, a situation caused by unexpected API delays.
Important economic dynamics
▌The EU states that the 30% tariffs imposed by the US harm the interests of both sides and will take countermeasures if necessary
On the 12th local time, European Commission President Ursula von der Leyen stated that the EU has noted a letter from US President Trump outlining the revised tariff rates and new timetable. The statement said that the US's 30% tariffs on EU export products would disrupt important supply chains across the Atlantic, harming the interests of businesses, consumers, and patients on both sides. The statement emphasized that globally, few economies can match the EU in terms of openness and adherence to fair trade rules. The EU has always been committed to resolving differences with the US through negotiation. The statement said the EU remains prepared to continue efforts to reach an agreement before August 1. At the same time, all necessary measures will be taken to safeguard the interests of the EU, including taking proportional countermeasures when necessary. Meanwhile, the EU will continue to deepen global partnerships and firmly base its actions on the principles of rules-based international trade. (CCTV)
▌President of the European Council: The EU continues to fully support efforts to reach a fair agreement with the US
European Council President Costa: Free and fair trade drives prosperity, creates jobs, and strengthens supply chains. The EU will continue to build strong trading partnerships globally and fully supports efforts to reach a fair agreement with the US. (Golden Ten)
▌Strategist: The EU will have to accept a 10% tariff
BCARESEARCH's chief strategist for Europe, Mathieu Savary, stated that Trump's strategy is to make outrageous demands, then let those demands fall through, and then make another effort to win some last-minute concessions before reaching a trade agreement. We remember a framework during Trump's first presidential term, and that is what is happening now. What is said now doesn't matter; what matters is where we land. The EU is expected to ultimately 'have to accept a 10% tariff, but that is something the EU can actually handle.' Previously, US President Trump announced a 30% tariff on EU goods starting August 1. Three EU officials stated that Trump's threat of a 30% tariff on EU goods starting August 1 is a negotiation tactic.
Encyclopedia
▌How do trade wars affect the stock and crypto markets?
Tariffs have raised the cost of imported goods, squeezing the profit margins of companies that rely on international supply chains. When automotive manufacturers or electronics brands have to pay higher parts costs, these costs either erode profits or are passed on to consumers. In either case, it's bad news for profits, which are a key factor in stock valuations. There is also a fear factor. Trade wars inject tremendous uncertainty into the economy. Will more tariffs be imposed next? Will other countries retaliate? This unpredictability can lead businesses to delay investments and hiring, while consumers may begin to cut back on spending. This manifests as increased market volatility. Tariffs have also impacted cryptocurrencies, but the market rebounded days later, reflecting the volatility and sensitivity of cryptocurrencies during times of global uncertainty. When uncertainty escalates—such as a sudden escalation in global trade tensions—investors tend to choose to play it safe. This means investors will pull out of volatile assets, including cryptocurrencies, in favor of cash or bonds, which are viewed as safer assets. This is a typical 'hedging' strategy. However, cryptocurrencies will not remain depressed for long. For many investors, despite the volatility, cryptocurrencies are increasingly being viewed as a valuable hedging tool, unaffected by any government or policy decisions.
