Introduction:
1. 30-year Japanese bonds broke through 3%, and 10-year US Treasury bonds re-broke 4.4%. The linkage between US and Japanese bond yields may exacerbate global interest rate volatility, potentially putting pressure on risk assets including Bitcoin.
2. Truth Social submitted a cryptocurrency blue-chip ETF S-1 filing application. Includes BTC, ETH, SOL, XRP, CRO
3. Since the SOL ETF began trading on July 2, it has seen inflows of $41.2 million.
4. In the generally cold BYC ecosystem, Ego Death Capital has completed a $100 million raise, focusing on supporting the expansion of Bitcoin ecosystem enterprises.
5. Previously, the USDF mining in cooperation with OneKey has decoupled, currently restored to 0.995
6. Wang Xiaoer’s view on participating in pumpfun, currently not considering participation, completely different thinking from 0xsun
1. Macro market
(1) Traditional markets
1. US stocks: Nasdaq up 0.03%, S&P down 0.07%, Dow down 0.37%, Tesla stops falling, up 1.32%
2. US Treasury, USD: 10-year US Treasury up 0.46%, breaking through 4.4% again, DXY reported at 97.5
3. Gold: down 1.11% to 3306
4. The yield on Japan's 30-year government bonds has risen over 30 basis points in the past three days, breaking through the 3% mark, reaching its highest level since May 23. The linkage between US and Japanese bond yields may exacerbate global interest rate volatility, potentially putting pressure on risk assets including Bitcoin.
5. Data from the Tokyo Stock Exchange for June shows that the Japanese listed company Metaplanet, which has continuously increased its Bitcoin holdings, recorded a trading volume of 18.7 trillion yen (approximately $11.6 billion), an increase of nearly 87% from May's 997.6 billion yen, surpassing traditional giants like Toyota (1.64 trillion yen) and Sony Group (1.32 trillion yen). Since November 2024, Metaplanet has remained at the top of the standard market trading volume for 8 consecutive months.
(2) Government & crypto dynamics
1. Truth Social submitted a cryptocurrency blue-chip ETF S-1 filing application.
The trust's assets are mainly composed of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO) held by the custodian for the trust.
[The inclusion of CRO makes this ETF very strange]
(3) Tariffs
US Treasury Secretary Janet Yellen stated on the 7th local time that she expects to meet with Chinese officials in the coming weeks to promote discussions on trade and other issues between the US and China.
2. Market overview
1. Market data: trading volume continues to dwindle
2. Stablecoin data outflow 0.49 billion, USDC inflow 0.35 billion
3. ETF data 7-day BTC ETF inflow 2.17 billion, ETH ETF inflow 0.62 billion
8th day sol etf inflow 0.21 billion
4. Institutional dynamics
(1) SharpLink Gaming (SBET) announced the purchase of 7,689 ETH for $19.2 million, increasing its total ETH holdings to 205,634 (approximately $533 million). SharpLink stated that of the $64 million raised through stock issuance last week, $37.2 million will be used to continue increasing ETH holdings. The company also launched a new metric, ‘ETH Concentration,’ showing that every 1,000 shares of circulating stock corresponds to 2.37 ETH.
(2) Nasdaq-listed DeFi Development Corp. (NASDAQ: DFDV) announced an increase of 47,272 SOL, approximately $7.19 million.
(3) BTCS Inc., a company focused on blockchain technology (NASDAQ: BTCS), today announced its strategic plan to raise $100 million for acquiring Ethereum by 2025.
(4) [Funds focusing on the BTC ecosystem are still quite rare; currently, the BTC ecosystem is as cold as it can get.] Ego Death Capital’s second fund has completed a $100 million raise, focusing on supporting the expansion of Bitcoin ecosystem enterprises.
The typical target company's annual revenue for this fund is between $1 million to $3 million, but due to limited funding, growth is hindered. This new fund will mainly focus on the A-round financing stage, assisting already validated companies in scaling up, while also reserving a small amount of funds for promising early-stage projects (seed round) investments.
3. Industry hotspots
1. According to data compiled by DappRadar, NFT trading volume in the second quarter dropped to $823 million, down from $4 billion in the same period last year. Although total NFT trading volume in 2024 has decreased by 19%, marking the worst year on record for the sector, this year's data indicates that the market slump has yet to hit bottom.
[From this perspective, there's no need to participate in OpenSea's airdrop activities]
OpenSea has acquired Rally, a company that develops the Rally wallet and mobile-first Web3 application experience.
This acquisition aims to strengthen OpenSea's expansion into the token trading field, and this feature now covers 19 blockchains.
4. Alpha
1. Previously, the USDF mining in cooperation with OneKey has decoupled, currently restored to 0.995
DWF Labs Executive Partner Andrei Grachev responded to the 'temporary decoupling of stablecoin USDF,' noting that the stablecoin USDF and BTC collateral account for about 89% (approximately $565 million), while altcoins account for about 11% ($67.5 million), with an over-collateralization rate of 116%. Every USDF minted must be backed by a stablecoin or equivalent hedging position with no directional risk.
In terms of yield, the composition of protocol earnings is as follows: basis trading income accounts for 44%, arbitrage trading income accounts for 34%, staking income accounts for 22%.
2. Phantom announced the direct launch of perpetual contract trading functionality within the Web3 wallet, supported by Hyperliquid, initially targeting EU customers. This product uses permissionless integration with the Hyperliquid API to access the market, allowing eligible users to trade perpetual contracts directly within the Web3 wallet while retaining non-custodial control over their positions. The user experience is similar to the intuitive extension of the Phantom core interface, offering leverage of up to 40 times, stop-loss, profit-taking, and real-time alerts.
[Integrating Hyperliquid contracts was unexpected]
3. Wang Xiaoer’s view on participating in pumpfun, currently not considering participation.
Comparing with 0xsun, these are two completely different approaches.
Dayu's summary of pumpfun is very accurate.
4. Elon Musk announced on the X platform that his AI project Grok 4 will be officially launched via live stream at 8 PM Pacific Time on Wednesday (11 AM Beijing time on July 11).
5.
