Daily Market Update (July 4, 2025, 20:30)
ChainDD's market data on July 4 shows a comprehensive index and CoinMarketCap quotes:
BTC is reported at $107,357.72, with a 24-hour increase of approximately 0.71%;
ETH is reported at $2,443.17, with a 24-hour decrease of approximately 0.22%;
BNB is reported at $656.49, with a 24-hour increase of approximately 0.62%;
DOGE is reported at $0.1609, with a 24-hour increase of approximately 0.21%;
SOL is reported at $148.01, with a 24-hour decrease of approximately 0.59%.
Cryptocurrency Market Updates
Vitalik: The success of Ethereum has exceeded anyone's expectations.
Ethereum co-founder Vitalik Buterin stated: The success of Ethereum has exceeded anyone's expectations.
The central bank is publicly soliciting opinions on the 'Rules for Cross-Border Payment System', better meeting the needs of CIPS business development.
The People's Bank of China is publicly soliciting opinions on the 'Rules for Cross-Border Payment System Business (Draft for Comments)'. The rules clarify the detailed processes for account management, funding, and settlement for CIPS participants. With the ongoing optimization of CIPS functions and services, it is necessary to adjust the relevant content of the rules to only propose principled requirements for participant business behaviors, ensuring the forward-looking and scientific nature of normative documents, effectively adapting to the needs of CIPS business development and functional upgrades.
Hong Kong Financial Secretary: The stablecoin licensing system will be implemented next month, strengthening the construction of the digital asset ecosystem.
The Secretary for Financial Services and the Treasury of Hong Kong, Xu Zhengyu, stated at the 'Hong Kong Digital Finance Awards 2025' that the licensing system for stablecoin issuers will officially be implemented next month, marking further improvement in Hong Kong's digital asset regulatory framework. The 'LEAP' four major pillars proposed in the 'Hong Kong Digital Asset Development Policy Declaration 2.0' are also being promoted, including legal regulatory optimization, tokenized product expansion, cross-border application scenario development, and talent cooperation, aiming to accelerate Hong Kong's transformation into a trusted and sustainable digital asset center in Asia.
Opposing the 'Big and Beautiful' bill, Musk calls for the release of the Epstein files.
According to the U.S. (Beast Daily) website, amid escalating disputes with U.S. President Trump over the 'Big and Beautiful' tax and spending bill, entrepreneur Elon Musk called on the U.S. government to fully disclose all documents related to the sexual assault scandal involving the late businessman Jeffrey Epstein. Previously, Musk had hinted at a connection between Trump and the 'Epstein case'.
It was reported that hours before the vote on the 'Big and Beautiful' bill in the U.S. House of Representatives, on the morning of July 3 local time, in response to a post on social media calling for the release of the 'uncensored Epstein files', Musk stated that he 'agreed'.
The central bank: Increase efforts to replicate and promote the 'Shanghai experience', supporting the promotion of innovative applications of the digital renminbi to relevant free trade pilot zones.
Ji Min, head of the Research Bureau of the People's Bank of China, stated on July 4 at a regular press briefing by the State Council that the next step is for the People's Bank, in conjunction with relevant departments and other financial regulatory bodies, to continue supporting the deepening of the free trade pilot zones in aligning with international high-standard economic and trade rules and promoting a higher level of institutional opening. On the one hand, further deepen financial opening and innovation in the Shanghai Free Trade Zone. Not long ago, eight supporting policies were announced at the Lujiazui Forum, including developing offshore bonds in the free trade area, optimizing and upgrading the functions of free trade accounts, and carrying out comprehensive reforms of offshore trade financing services. On the other hand, increase efforts to replicate and promote the 'Shanghai experience', supporting the promotion of innovative applications of the digital renminbi and measures to optimize electronic payment services nationwide, exploring practical paths for the open and innovative development of the financial sector in our country, and accumulating more replicable and promotable experiences.
FTX creditors' representative: Chinese users may risk losing their claims.
FTX creditors' representative Sunil posted on platform X, stating that FTX is seeking legal advice to allocate to restricted foreign jurisdictions. However, if it is determined that users belong to restricted foreign jurisdictions, claims will be disputed, and if the issues are not resolved, (users) will lose their allocation rights. Sunil indicated that 5% of claims involve restricted countries, and 82% of the claims funds belong to Chinese users.
Japan's Minna Bank launches a stablecoin research project.
Japan's first digital bank, Minna Bank, announced a joint research project with Fireblocks, Solana Japan, and TIS to explore the feasibility of issuing stablecoins based on the Solana blockchain and assess its practical application potential in cross-border payments, physical asset transactions, and daily financial services. The project will also examine how Web3 wallets can enhance the user payment experience. As the global stablecoin market cap surpasses $250 billion, traditional institutions in Japan, including SMBC, are also accelerating their layout, intending to enhance fund settlement efficiency and serve trade finance needs with stablecoins.
