4E: USDT market value exceeds 160 billion US dollars, Bullish plans to go public in the United States, and the global crypto financial landscape is being reshaped

Mars Finance News, according to 4E observations, the crypto market has recently welcomed several milestone developments, with stablecoins, IPOs, on-chain data, and regulatory expectations comprehensively heating up, and institutional participation and policy evolution are jointly driving deep transformation in the crypto industry. According to Tether's official announcement, USDT's market value has exceeded $160 billion, hitting a historic high, with CEO Paolo Ardoino stating this is a "key node in global financial liquidity restructuring". Simultaneously, the total contract holdings on the Ethereum chain broke through $52 billion on July 20, refreshing historical records, with on-chain activity continuously climbing. The crypto industry is also ushering in a new wave of IPOs. The exchange and media giant Bullish has submitted a prospectus to the US SEC, planning to list on the New York Stock Exchange. Bullish, founded by Block.one together with Silicon Valley veteran investor Peter Thiel, has a shareholder lineup including founders' funds, Thiel Capital, Alan Howard, and Nomura Securities. This move is seen as an important signal of further opening of the US capital market to the crypto industry. On the institutional front, Bitwise data shows that by Q2 2025, 125 listed companies collectively hold 84,700 BTC, with a total value of $91 billion, with 46 new companies entering this quarter, at an average holding price of $107,754, reflecting that Bitcoin allocation needs are penetrating mainstream financial assets. On the policy front, the US House of Representatives has fully passed the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance National Act, with the GENIUS Act about to be signed into law by Trump. The White House will also release its first crypto policy report on July 22, with Treasury Secretary Bezos even stating that the "dollar is about to go on-chain", which will strengthen the dollar's crypto continuation as a global reserve currency. Federal Reserve Chairman Powell and ECB President Lagarde will deliver important policy speeches this week, with the market closely watching whether they will respond to recent inflation, tariffs, and digital currency policies. Meanwhile, the Altcoin seasonal index has risen to 52, signaling further fund diversion, with Bitcoin social media discussion exceeding 43%. Analysts caution about the need to watch short-term correction risks. 4E reminds investors: with bullish and bearish market information intertwined, be wary of short-term mispricing caused by emotional fluctuations, and rationally grasp medium to long-term structural opportunities.