Market Overview

This week, the crypto market faced a downturn, with Bitcoin (BTC) falling by 1.6% and Ethereum (ETH) dropping by 1.7%. Bitcoin dominance also decreased, peaking at 52.25% before settling at 51.2%.

Market Reaction to Trump Shooting:

• On Polymarket, Trump’s chance of winning surged from 60% to 70%.
• The $MAGA token experienced a 40% pump on substantial trading volume.

DeFi News

• CFTC Chair Statement: The CFTC Chair revealed that 70-80% of cryptocurrencies are non-securities, potentially impacting future regulatory frameworks.
• Tron’s Gas-Free Solution: Justin Sun announced a groundbreaking solution for gas-free stablecoin transfers on the Tron blockchain.
• Trump at Bitcoin 2024: Donald Trump is slated to speak at the Bitcoin 2024 conference, garnering significant attention from the crypto community.
• Zero1 Labs’ Mainframe Launch: Zero1 Labs introduced Mainframe, a platform designed to educate users about Crypto AI projects.
• pSTAKE Finance Developments: pSTAKE Finance unveiled plans for BTC yield solutions and a points program to reward users.
• Fluid’s wBTC Markets: Fluid launched wBTC markets featuring high Loan-to-Value (LTV) ratios and attractive rewards.
• Solv Protocol’s SolvBTC.BBN: Solv Protocol introduced SolvBTC.BBN, a liquid staking token for Bitcoin.
• Starknet and Debank Proposals: Starknet proposed native token staking, while Debank launched its XP points program.
• EtherFi and Sentient News: EtherFi’s card pre-orders are live, and Sentient, an open AGI development platform, raised $85 million.
• IntentX and Rage Trade: IntentX launched advanced trader tools, and Rage Trade announced the forthcoming launch of its $RAGE token.

Other News

• Spot ETH ETFs: The introduction of spot ETH ETFs is imminent, with Goldman Sachs planning three tokenization projects. The minimum holdings of U.S. Spot Bitcoin ETFs reached an all-time high.
• Binance and Gopax: Binance is selling most of its shares in the South Korean crypto exchange Gopax.
• Bitwise Inflows: Bitwise CEO reported $47 million in inflows this week.
• U.S. House and SEC Bulletin: The U.S. House failed to override President Biden’s veto on SEC Staff Accounting Bulletin No. 121.
• Partior’s Series B Funding: Partior raised $60 million in Series B funding.
• Coinbase Wallet App: Coinbase launched an app to manage multiple on-chain wallets.
• Iggy Azalea’s MOTHER Token: The MOTHER token saw a 50% increase after a collaboration with DWF Labs.
• Bitcoin and $TRUMP Altcoins: Bitcoin surged 5%, with $TRUMP-themed altcoins pumping.
• U.S. Spot Bitcoin ETF Holdings: U.S. Spot Bitcoin ETFs increased their holdings by 18,420 BTC this week.
• Sentient AGI Fundraising: Sentient AGI raised $85 million in a seed round.
• TON Blockchain Developments: OrangeX Exchange integrated $USDT on the TON blockchain, and $HMSTR became available on various exchanges. TON Society welcomed Luke Belmar, and @evaaprotocol plans to remove jUSDT and jUSDC from the TON ecosystem. The TON Open League Season 5 offers $1.15 million in prizes, with over 1 billion TON locked in the TON Believer Fund.

Next Week’s Token Unlocks

Upcoming token unlocks include $RNDR, $OP, $STRK, $AXS, and APE, each with varying supply increases.

Alpha of the Week

• $ARB Unlock: Scheduled for July 16.
• $XDEFI Wallet Rebranding: Expected next week.
• $ATOM Cosmos Upgrade: Scheduled for July 17.
• $CLOUD Sanctum Token Launch: Set for July 16.
• $RDNT Radiant Launch: Launching on the Base network this month.

Best Performing Tokens

Check out the best performing tokens over the last 30 days: CryptoStreamHub.

Stay tuned for more updates and insights from the ever-evolving world of cryptocurrencies. For more detailed analysis and news, follow Bestla VC’s blog and social media channels.