This week's data week saw significant market fluctuations, so it's best to hold your ground and avoid any trades!
Let's see what new market events are worth watching today!
1️⃣ The SEC took two actions: postponing the review of the Truth Social Bitcoin ETF and the Grayscale Solana spot ETF; but it also just approved the physical redemption mechanism for the BTC and ETH ETFs, resulting in a lukewarm short-term market reaction.
2️⃣ Yesterday's market fell across the board, with significant outflows of funds from major CEX currencies. Short-term speculation intensified, and sentiment remained cautious. Reserve-focused stocks BMNR and SBET (#ETH ) fell over 8%, possibly driven by the pullback in US crypto stocks.
3️⃣ $CFX and CKB fell after rising yesterday, possibly due to the upcoming implementation of Hong Kong's stablecoin regulatory regime on August 1st, leading to significant hot money speculation.
4️⃣ The $DEGEN Foundation plans to gradually destroy 32.5% of the total supply to alleviate inflation and dilution concerns, emphasizing long-term sustainability rather than airdrops as a stimulus.
5️⃣ $HOME launched a buyback of 1 billion tokens; $Pumpfun transferred 12,000 SOL to the buyback address. $PUMP's market capitalization reached 2.78 billion, showing clear signs of short-term resistance. However, with declining revenue and no new initiatives, its ability to take off will depend on execution.
6️⃣ Plasma's public offering concluded, with subscriptions reaching $373 million, exceeding the target by 7 times.
7️⃣ The Korean exchange's new offering, $OMNI , saw a threefold increase, demonstrating the continued effectiveness of the Korean exchange. Coinbase added $BIO and $EUL to its roadmap, and listed TREE and $BNKR. The former reached a peak of $1.5 billion in FDV on Binance last night.
8️⃣TRON Inc. submitted a hybrid offering plan of up to $1 billion to the US SEC; Binance announced that it will launch the Treehouse airdrop program for HODLers on July 29th ($TREE ).
