Bitcoin Market Cap Falls Below 60%
Coingecko data shows that Bitcoin's market cap has fallen below 60%, currently at 58.5%. Additionally, Ethereum's market cap is currently 11.4%.
Whale Seemingly Sells 700 WBTC in Past 3 Days, Worth $82.4 Million
According to on-chain analyst @ai_9684xtpa's monitoring, an address that bought 1,074 WBTC at an average price of $10,708 four years ago has seemingly sold 700 WBTC (worth $82.4 million) over the past three days at an average price of $117,697. If this portion has been sold, it would generate a profit of $74.89 million; currently, over half of the four-year-old position has been sold, with the wallet still holding 800 WBTC.
[The translation continues in the same manner for the rest of the text, maintaining the specified translations for specific terms and preserving the structure of the original text.]According to The Block, the lawyer of Tornado Cash co-founder Roman Storm is considering requesting a trial invalidation after expressing concerns about the government's evidence. A previously summoned witness, Hanfeng Ling, claimed that some funds from a 2021 pig-butchering scam were laundered through Tornado Cash, but the defense lawyer's investigation found it impossible to trace the funds to the mixer. Ethereum security expert Taylor Monahan also posted on X platform last weekend, stating that scammers do not use Tornado Cash and elaborating on why funds did not pass through the mixer, describing the tracking process as chaotic and asserting that the funds were not involved with Tornado Cash at all. Storm's trial began last week at a federal court in Manhattan. In 2023, Storm was charged with conspiracy to launder money and violating sanctions for operating the Tornado Cash company. If all charges are proven, he could face up to 45 years in prison, and the defendant has pleaded not guilty.
According to Reuters, Ether Reserve, a new crypto enterprise supported by prominent crypto investors, will go public on Nasdaq by merging with a blank check company Dynamix Corporation, expecting to raise over $1.6 billion. The merged entity will be named "Ether Machine", with the goal of holding over 400,000 Ethereum on its balance sheet, making it the largest public tool for institutional exposure to the world's second-largest cryptocurrency. Dynamix's stock rose nearly 28% in early trading. This deal highlights the growing institutional interest in holding cryptocurrencies on corporate balance sheets, with several projects announcing plans for public listing in recent months, aiming to package crypto assets as stocks to attract traditional investors.
According to The Block, Nasdaq-listed Mercurity Fintech Holding has signed a $200 million equity credit agreement with Solana Ventures to advance its Solana funding strategy. Mercurity plans to accumulate a large number of Solana (SOL) tokens through this agreement, generating returns via staking, validator nodes, and Solana DeFi protocols, while investing in Solana-based projects, including tokenized assets and real-world asset platforms. The company's Chief Strategy Officer, Wilfred Daye, stated that this Solana strategy is a new addition and does not replace the previous $800 million Bitcoin reserve plan, with each having different fund management and yield characteristics.
According to Zoomer, Justin Sun is set to board a Blue Origin rocket for a space launch mission. According to Jin Shi, Blue Origin announced that the NS-34 mission will carry six passengers, including crypto entrepreneur Justin Sun.
According to Bloomberg, crypto prediction platform Polymarket will legally return to the US market after reaching an acquisition agreement with QCX. Previously, Polymarket was required to operate offshore due to being unregistered, but the US Department of Justice and Commodity Futures Trading Commission have recently terminated their investigation. This acquisition will enable Polymarket to obtain regulatory permission and officially open to US users. Reportedly, Polymarket will acquire derivatives exchange QCX for $112 million, which received CFTC approval to operate on July 9.
Spot gold broke through $3,400 per ounce, rising 1.48% intraday.
Amber Group's Web3 accelerator amber.ac has officially launched its second global hackathon, BUIDL_QUESTS 2025, with total incentives exceeding $10 million, focusing on the AgentFi field to help build the next-generation crypto economy driven by autonomous agents. Incentives include cash bonuses, ecosystem rewards, potential investment opportunities, cloud service resources, and TVL liquidity support. Participating projects will have the chance to receive mentorship from Amber Group, financing opportunities, and showcase at Token2049. Additionally, the agent economy representative MIA will serve as the event ambassador for content co-creation and community interaction. Registration is now open, with details available on the amber.ac website or by joining the official Telegram community.
US stocks opened with the Dow up 0.06%, S&P 500 up 0.16%, and Nasdaq up 0.31%. Ethereum-related stocks strengthened, with Gamesquare Holdings up 3.9% and BTCS up 13%. Trump Media & Technology Group (DJT.O) rose 5.7%, having previously announced a total Bitcoin reserve purchase of $2 billion.
According to Globe Newswire, TLGY Acquisition Corp. announced a business merger agreement with StablecoinX Assets Inc., forming StablecoinX, a company focused on the Ethena stablecoin ecosystem, with plans to list on Nasdaq under the "USDE" code. The deal is supported by approximately $360 million in PIPE financing, including $60 million from the Ethena Foundation. Simultaneously, the Ethena Foundation will immediately initiate a $260 million token buyback plan to further promote ecosystem development.
According to BusinessWire, crypto custody company BitGo has confidentially submitted an S-1 draft registration statement to the US Securities and Exchange Commission (SEC) for its Class A common stock initial public offering (IPO). The number of shares and pricing range are yet to be determined. The IPO is expected to proceed after the SEC completes its review process, with timing dependent on market and other conditions.
Trump Media & Technology Group (DJT.O) currently holds Bitcoin assets accounting for approximately two-thirds of its approximately $3 billion total liquid assets. The stock was up 5% pre-market.
Trump Media & Technology Group (DJT.O) announced that its total Bitcoin reserve purchases have reached $2 billion. The group plans to continue acquiring Bitcoin and related assets, converting options to spot Bitcoin. Approximately $300 million of additional capital is allocated to an options acquisition strategy for Bitcoin-related securities.
Strategy (formerly MicroStrategy) purchased 6,220 Bitcoins between July 14-20 at an average price of $118,940 per Bitcoin, with a total investment of approximately $739.8 million. As of July 20, 2025, the company holds 607,770 BTC, with a total purchase cost of approximately $43.61 billion, at an average cost of $71,756.
According to GlobeNewswire, blockchain technology company BTCS Inc. (Nasdaq: BTCS) announced that its current market total value of 55,788 Ethereum (ETH), cash, and other liquid assets is approximately $242 million (calculated at an ETH price of $3,600). Additionally, BTCS has agreed to issue convertible notes of approximately $10 million at $13 per share, which is 198% premium to the July 18 closing price. The company has raised $189 million this year through its DeFi/TradFi Accretion Flywheel strategy and plans to continue expanding ETH holdings through decentralized and traditional financial instruments to enhance shareholder value.
Jingwei Tiandi: Launches Self-Developed Global Stablecoin Payment Platform
Jingwei Tiandi announced on the Hong Kong Stock Exchange that the company is entering the crypto payment field and will release its first mobile application "Fopay" on July 21, 2025, providing a one-stop payment platform. Fopay is developed based on the stablecoin crypto payment concept, currently offering stablecoin custody and prepaid card payment functions through several licensed partners. The board believes that launching Fopay and the new business segment can explore more business opportunities and benefit shareholders overall.
23 Whales and Institutions Have Accumulated Over 680,000 ETH This Month
According to Lookonchain statistics, on-chain data shows that approximately 23 whales or institutions have collectively bought 681,103 ETH since July 1, valued at around $2.57 billion.
Sequans Adds 1,264 BTC for $150 Million
According to Bitcoin Magazine, the French listed company Sequans purchased 1,264 BTC for $150 million, bringing its total BTC holdings to 2,317 BTC.
Binance Alpha to List Alliance Games (COA)
According to Binance, Binance Alpha will become the first platform to list Alliance Games (COA) on July 23. Eligible users can claim airdrops using Binance Alpha points on the Alpha activity page after trading opens.
The Ether Machine Raises $1.5 Billion with Support from Pantera, to List and Hold Over 400,000 ETH
According to the official website, The Ether Machine, Inc., focused on Ethereum staking yields, announced a final business merger agreement with blank check company Dynamix Corporation (NASDAQ: DYNX), officially launching its listing process. After the merger, the company will trade on NASDAQ under the code "ETHM". Ether Machine co-founder Andrew Keys will serve as chairman. The Ether Machine is expected to launch with over 400,000 ETH, becoming the world's largest institutional public asset management platform for Ethereum. This merger has committed over $1.5 billion in funding, including approximately $645 million (169,984 ETH) subscribed by co-founder and chairman Andrew Keys, and over $800 million from top institutions and strategic investors like Pantera, Kraken, and Electric Capital. The total financing is expected to reach $1.6 billion, including the committed funds and up to $170 million in cash from the Dynamix trust account. The company will focus on Ethereum staking, re-staking, and DeFi strategies, aiming to provide safe, transparent, and compliant ETH yields. The transaction is expected to complete in the fourth quarter of 2025, subject to shareholder approval and relevant regulatory procedures.
