Crypto Assets Market Dynamics and Trend Analysis

Important News

The US SEC has approved the physical redemption of Crypto Assets ETPs, marking that spot ETPs such as Bitcoin and Ethereum can adopt a physical redemption method. This move will enhance product efficiency and reduce costs, helping to establish a more reasonable regulatory framework for Crypto Assets.

The Vice President of the Hong Kong Monetary Authority, Chen Weimin, stated that the first stablecoin issuer license is expected to be issued early next year. Stablecoin issuers can apply for a stablecoin license linked to a single or a basket of fiat currencies.

The Indonesian Ministry of Finance announced an increase in the tax rate for Crypto Assets trading starting from August 1. The seller tax rate for domestic exchanges will rise from 0.1% to 0.21%, while for overseas exchanges it will increase from 0.2% to 1%.

Market View

Renowned trader Eugene has stated that he has exited most of his long positions and holds a defensive attitude towards the August market. He believes that this "altcoin season" may be the weakest in history and suggests continuing to focus on ETH investments.

Project Updates

Radix network founder Dan Hughes has passed away unexpectedly. The team is committed to continuing his vision and ensuring a stable transition for the project.

Linea announced the token distribution details, with 9% distributed to users through airdrops. The project uses a dual destruction mechanism, with all Gas fees paid in ETH, 20% used to destroy ETH, and 80% used to destroy LINEA.

A trading platform has announced the launch of BankrCoin on the Base network (BNKR). If liquidity conditions are met, trading will begin on July 30, 2025.

Data Analysis

A certain digital asset platform accumulated the purchase of 10,141 BTC within 9 hours, with a total value of approximately 1.19 billion US dollars.

Multiple addresses have accumulated a total of 648,000 ETH within half a month, worth 2.44 billion dollars.

The Ethereum spot ETF saw a net inflow of 219 million USD yesterday, marking 18 consecutive days of net inflow. The total net asset value reached 21.613 billion USD, accounting for 4.75% of Ethereum's total market capitalization.

Investment and Financing Dynamics

The RWAiFi project GAIB has completed a $10 million financing round, led by a certain trading platform.

Decentralized AI infrastructure Manifold completes $10.5 million Series A financing, led by OSS Capital.

The TON ecosystem STON.fi has completed a $9.5 million Series A financing round, led by Ribbit Capital and CoinFund.

A certain digital asset trading platform is seeking $500 million in funding with a valuation of $15 billion.

Changes in Institutional Holdings

A listed company completed a financing of $2.521 billion and acquired 21,021 coins, with an average price of about $117,256.

A certain trading platform disclosed that its total holdings of Ethereum have increased to approximately 438,000 ETH.

A certain company announced an increase in its holdings of approximately 180,000 SOL, bringing the total holdings to about 1,180,000 coins.

A listed company will raise $75 million through a rights issue to purchase Bitcoin and other Crypto Assets.