BTC is currently trading around $96,800 and ETH around $2,650. Notable gainers in the last 24 hours are ADA, KAS, and S. The global crypto market cap is $3.31T, down 0.2% over the last day. DeFi Total Value Locked is ~$109b and BTC dominance is around 61%.
Equities and crypto prices are little changed ahead of Fed Chair Powell’s testimony before Congress today and key inflation readings later this week. Of note, Trump followed through on his weekend announcement and signed an order levying 25% tariffs on steel and aluminum imports.
Notable news includes: The US SEC and Binance jointly requested a 60-day suspension of their ongoing lawsuit citing the potential for the SEC’s Crypto Task Force to influence the outcome; Acting CFTC Chair Pham announced that the CFTC will end regulation by enforcement; an Alabama man will pled guilty in the SEC’s X account hack that falsely announced the agency had approved spot Bitcoin ETFs; the former South Korean lawmaker at the center of the Coin Gate scandal was found not guilty; Ukraine lawmakers stated plans to legalize crypto by this summer; Russia blocked access to widely-used crypto OTC trading platform BestChange; North Carolina submitted legislation to create a state-level strategic Bitcoin reserve; MetaPlanet announced a bond issuance to purchase Bitcoin; Japanese gaming firm Gumi purchased $6m of Bitcoin; KULR purchased another $10m of Bitcoin; Ethereum investment product inflows outpaced those of Bitcoin last week; Bloomberg ETF analysts released 2025 US spot digital asset ETF approval odds at 90%, 75%, 70%, and 65% for LTC, DOGE, SOL, and XRP, respectively; Grayscale filed to launch a Cardano ETF; hacked crypto exchange WazirX completed its rebalancing and will return 85% of customer funds valued as of July 18; Unichain went live on mainnet; TON partnered with LayerZero for improved cross-chain functionality; RWA protocol Superstate chose Plume to power its multichain expansion; blockchain sleuths claimed that Base is sending all L2 fees to Coinbase; Ethereum NFT project Goblintown revealed Really Hard Driving Game; layer one Injective launched a tradfi equities index onchain; Story Protocol confirmed it will launch its mainnet this week; and, rapper Bhad Bhabie released a memecoin to fund cancer research.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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