Introduction:
1. Circle up 7.56%, market cap of 47.54 billion, Coinbase's market cap surged, up 5.54%, market cap of 95.53 billion.
2. The Director of the US Federal Housing Finance Agency stated that he has requested Fannie Mae and Freddie Mac to study the inclusion of cryptocurrencies like Bitcoin in mortgage evaluation systems.
3. Trump's crypto project Trump received a $100 million investment from a UAE fund. [News has almost no impact on coin prices]
4. Bybit TradFi upgrade launched: trading gold, foreign exchange, commodities, and US stock CFDs.
1. Macro Market
(1) Traditional Market
1. US Stocks: Dow Jones down 0.94%, Nasdaq down 0.97%, S&P down 0.80%, Circle up 7.56%, market cap of 47.54 billion, Coinbase's market cap surged, up 5.54%, market cap of 95.53 billion.
2. US Treasuries, US Dollar: 10-year US Treasury down 1.05% to 4.259%, US Dollar Index down 0.37% to 97.37.
3. Gold: dropped to 3314.3.
4. The US GDP for the first quarter of 2025 has been revised down by 0.3 percentage points to -0.5%, confirming the first quarterly contraction since the first quarter of 2022. Core PCE is higher than expected. Personal consumption is revised down by 0.7 percentage points to +0.5%, marking the weakest quarter since the COVID-19 outbreak in 2020.
5. Yu7 made a large order of 200,000 units in 3 minutes, and a large order of 289,000 units in 1 hour.
(2) Policy Direction
1. Related to the Federal Reserve
(1) Morgan Stanley estimates that the Federal Reserve's plan to relax leverage rules could release $185 billion in capital and unlock nearly $6 trillion in asset balance sheet capacity.
2. July interest rate cut expectations have dropped to 20.7%.
2. President Trump's 90-day tariff suspension period now has only 13 days left.
3. Bill Pulte, Director of the US Federal Housing Finance Agency (FHFA), stated that he has requested Fannie Mae and Freddie Mac to study the inclusion of cryptocurrencies like Bitcoin in mortgage evaluation systems. This means that cryptocurrencies will not need to be converted to USD but will be included as reserves in spot form. Additionally, according to relevant requirements, only cryptocurrencies listed on US-regulated exchanges are eligible to be included in Fannie Mae and Freddie Mac's mortgage reserves, and relevant assets must also take volatility protection measures.
(3) Regulatory Dynamics
1. A US Senator stated that there will be a draft bill on crypto market structure in the Senate, aiming to be published before the August recess and reviewed in September.
2. According to disclosures from the Hong Kong Securities and Futures Commission, as of June 24, a total of 40 institutions upgraded to License 1, which means upgrading the existing securities trading license to provide virtual asset trading services through a comprehensive account arrangement, including 38 brokerages, 1 bank, and 1 internet company.
3. White House digital asset policy advisor: The US is working on building the infrastructure for a strategic Bitcoin reserve.
(4) Government & Crypto Dynamics
Trump's crypto project Trump received a $100 million investment from a UAE fund.
[News has almost no impact on coin prices]
2. Market Review
1. Market Data: BTC market cap share breaks historical high, reaching 65.94%.
2. Stablecoin inflow data: $468 million inflow, USDT inflow of $556 million, USDC outflow of $64 million.
3. ETF Data: On the 24th, BTC inflow was 548 million, ETH inflow was 60 million.
4. Institutional Dynamics
(1) Nasdaq-listed company Upexi (stock code: UPXI) stated that it will tokenize its shares registered with the US Securities and Exchange Commission (SEC) and deploy them on the Solana network. The company has adopted a Solana-centric crypto asset treasury strategy. In the past month, it has added approximately 56,000 SOL, with total Solana holdings currently at 735,692 SOL, valued at approximately $105 million at the current price.
(2) Canadian listed company SOL Strategies announced the establishment of a Strategic Ecological Reserve (SER) and initially acquired 52,181.564 JTO tokens.
3. Industry Hotspots
1. Exchange Actions: Bybit TradFi upgrade launched: trading gold, foreign exchange, commodities, and US stock CFDs.
2. Kraken has launched a blockchain-driven global financial application called Krak, allowing users to achieve near-zero-cost cross-border instant transactions while earning competitive returns on account balances.
The app allows users to conduct peer-to-peer money transfers across 110 countries globally, supporting over 300 assets, including cryptocurrencies, stablecoins, and fiat currencies, without the need to fill in bank information or cryptocurrency wallet addresses.
4. Alpha
(1) Binance Alpha
On the 26th, the number of people brushing points began to rise, increasing by 10,000 people.
(2) Binance Alpha
1. Sahara, public offering at 0.06, can be sold at 0.14.
Sahara AI has a total token supply of 10 billion, with only 5.77% in circulation, launched all at once on all top exchanges, a grand slam.
2. @fragmetric can check for airdrops.
Link: https://airdrop.fragmetric.xyz
