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Yesterday's market dynamics
BTC price briefly broke through $110,000 this morning, setting a new historical high.
BTC price briefly broke through $110,000 this morning, peaking at $110,741, setting a new historical high, and has now dropped to $109,645.00, with a 24-hour increase of 0.63%.
Former FOX reporter: (GENIUS Bill) has voted to move to the amendment process.
Stablecoins (GENIUS Bill) passed the debate motion with 69 votes in favor and 31 against, moving into the amendment process.
Wu Jiezhang: The Hong Kong Legislative Council passed the (Stablecoin Regulatory Bill) in the third reading, which will accept applications from issuers before the end of the year.
Wu Jiezhang stated that Hong Kong's stablecoins will use fiat currency as the underlying asset, welcoming companies and institutions interested in issuing stablecoins to apply in Hong Kong. He emphasized that stablecoin issuance is only the first step in Web3 infrastructure, and future efforts will focus on two directions: first, creating more use cases for stablecoins, including retail and cross-border trade; second, improving the market attributes of stablecoins, including releasing interest to holders to enhance market competitiveness.
The Texas House of Representatives passed the Strategic Bitcoin Reserve Bill SB 21, which has been sent to the governor for signature.
According to Bitcoinlaws, the Texas House of Representatives passed SB 21 for the third reading with 101 votes in favor and 42 against. The bill aims to establish a 'Texas Strategic Bitcoin Reserve' for investing in crypto assets with a market value of no less than $500 billion, and it has now been submitted for the governor's signature.
Solana Mobile announced that the Seeker phone will ship on August 4, launching the native token SKR.
According to official news, Solana Mobile announced that its second phone, Seeker, will start shipping on August 4, 2025. Additionally, Seeker will launch the SKR token, which is the native asset of the Solana mobile economy. SKR tokens will be directly distributed to developers and users participating in the ecosystem.
Worldcoin completed $135 million in financing, with a16z and Bain Capital Crypto participating.
According to official news, Worldcoin project affiliate World Foundation's subsidiary World Assets raised $135 million by selling WLD tokens at market price to Andreessen Horowitz and Bain Capital Crypto to support the expansion of the World network in the United States and globally.
Yesterday's market:
Bitcoin: Lowest point 106140 Highest point: 110814 Range 4673 points
Ethereum: Lowest point 2452 Highest point: 2616 Range 162 points
Summary of yesterday: Bitcoin repeatedly challenged new highs, with significant volatility cleaning out weak hands.
Today's market:
Ethereum: Multiple downward spikes, all found support at 2500 recently, with strong support. Brothers who haven't entered at this position should continue to build their positions.
Bitcoin: Owe no one.
Summary of today: The bullish market continues, with a distance of 1 million RMB per coin. It's within reach; years ago, the slogan of one coin for one model and one coin for one villa has become a reality.
Final thoughts
Please always remember that in the cryptocurrency market, only a few people can make money, while the vast majority lose money.
With the bull market arriving, consider one thing: who profits in a bull market, and who provides the money? A major bull market is a significant wealth transfer, and the greater probability is that it shifts your limited funds to others. Retail investors should approach the bull market with respect.
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