Event Calendar
President Trump of the United States once proposed to repay US $35 trillion of treasury bond with Bitcoin. At present, the scale of US treasury bond has reached US $40 trillion. （Bitcoin Archive）
The US Securities and Exchange Commission has cancelled the scheduled vote on Friday regarding exemptions for cryptocurrency financing for startups due to scheduling issues. （Cointelegraph）
The first major crypto rule to be proposed by the U.S. Securities and Exchange Commission will have to wait a bit longer after a sudden postponement.
CryptoQuant analysts pointed out that due to miners turning to the AI field, Bitcoin's computing power has decreased by 17% from its historical high. （Cointelegraph）
[Baltimore City Government Sues Kalshi, Accuses Robinhood, Webull, and Coinbase of Involvement in Illegal Sports Betting] According to Cointelegraph, the Baltimore City Government has filed a lawsuit against the prediction market platform Kalshi, accusing it of violating local gambling laws and engaging in fraudulent trade practices. The complaint names Robinhood, Webull, and Coinbase as Kalshi's partners, alleging that these companies are involved in illegal sports betting operations. The Baltimore City Government asserts that the platforms have provided sports betting services to residents without complying with local regulations and is requesting the court's intervention in the matter.
【】 The White House plans to hold a meeting with cryptocurrency industry executives next week. （Watcher.Guru）
The S&P 500 index closed at a historic high of 7799 points. （Watcher.Guru）
The three major US stock indices collectively closed higher, with the Dow Jones Industrial Average up 0.14%, the Nasdaq up 1.34%, and the S&P 500 index up 0.75%. Cryptocurrency concept stocks generally rose, with Coinbase up 3.25% and Robinhood up 4.40% within the day.
X. The discussion on terms such as' dead ',' dying ',' over ',' ended ',' ending ', and' finished 'is increasing in Reddit, Telegram, and other cryptocurrency channels. Santiment data shows that this phenomenon often occurs during periods of retail patience depletion and price stagnation. （Santiment）
The United States accuses over 40 countries, including Japan, Canada, and Mexico, of assisting China in illegally evading US tariffs. （Watcher.Guru）
KPMG U.S. examined Tether's books and even counted its gold bars as the $180 billion USDT issuer said it completed its long-promised financial audit.
MSCI is evaluating whether to remove Michael Saylor's Strategy and Metaplanet from its index, and the decision is expected to be announced in October. （Bitcoin Archive）
【】 Cryptocurrency organizations warn that the Federal Reserve may use bank access rights to restrict digital asset companies. （Decrypt）
Analyst James Check pointed out that the 30 day price fluctuation range of Bitcoin is only 5.6%, which is at a historically low level, and this pattern occurs at the end of a bear market or the beginning of a bull market. （CoinDesk）
Hyperliquid destroyed 19750 HYPE tokens worth approximately $1.13 million in the past 24 hours, resulting in a processing fee of $1.6 million during the same period. Hyperliquid has destroyed 47.67 million HYPE tokens worth approximately $2.75 billion, accounting for 4.77% of the maximum supply of 1 billion tokens. （Onchain Lens）
[Standard Chartered: Robinhood Chain TVL Approaches $1 Billion, Driving Uniswap Token Burn] According to a report by Cointelegraph, Standard Chartered analyst Geoffrey Kendrick noted that the total value locked (TVL) of Robinhood Chain is approaching $1 billion, with its liquidity needs being met by Uniswap V2, V3, and V4 versions. Since the activation of the fee mechanism on July 27, the annualized burn rate of UNI tokens is approximately $90 million. At a price of $3.5 per token, this translates to an annual burn of about 25 million UNI, accounting for over 4% of the circulating supply. Robinhood Chain went live on July 1, with 194,000 daily active users in its first week.
On Friday, BTC and ETH options expired, with BTC's nominal open interest contracts of approximately $1.28 billion and a maximum pain point of $64000. Call options were concentrated at $68000 and $70000 to $72000; The nominal open interest contract for ETH is approximately $161 million, with a maximum pain point of $1900. Call options are concentrated at $1950 and $2000, while the open interest contract ratio for BTC put/call options is 0.85 and ETH is 0.94.
Bitwise Chief Investment Officer Matt Hougan stated that there are two mistakes when evaluating DeFi applications: one is mistaking the $2 trillion cryptocurrency market for the target market, when in fact the target is the $500 trillion asset market; The second is underestimating the ability to capture the value of transaction fee income. Hyperliquid, Uniswap, Aave, Morpho, Aerodrome, Lighter, Pump and other projects have larger TAMs and stronger pricing power than expected.
Bitcoin fell below $63000, and the cryptocurrency market experienced $48 million in liquidation within the past hour, with multiple liquidation amounts reaching $45.7 million. （Cointelegraph）
According to Bloomberg, World Liberty Financial and its partners have postponed the sale of digital tokens related to the Trump branded Maldives resort. The token was originally planned to be launched this spring, and investors can obtain partial income rights to fund the resort's loan project after purchasing it. The Iran War has affected travel activities in the Middle East and surrounding areas.