Author: TechFlow
Market Dynamics Yesterday
US and EU Close to Reaching 15% Tariff Agreement
According to Jinshi Data, citing the Financial Times, the US and EU are close to reaching a 15% tariff agreement.
Block Officially Included in S&P 500 Index
According to CNBC, payment giant Block Inc. will officially join the S&P 500 index today. Block currently holds 8,584 bitcoins on its balance sheet.
BitMine Lists Options Trading on NYSE, Plans to Acquire 5% of Total ETH Supply
According to The Block, BitMine Immersion (ticker: BMNR), an Ethereum inventory and crypto mining company associated with Peter Thiel, has started ordinary stock options trading on the New York Stock Exchange and disclosed plans to acquire 5% of the total ETH supply.
Aspecta Announces Tokenomics: Total Supply of 1 Billion Tokens, 45% Allocated to Community and Ecosystem Development
According to the official announcement, Aspecta has published its tokenomics, with a total supply of 1 billion tokens: 45% allocated to community and ecosystem (7.6% airdropped to users and community supporters at TGE; 6.7% allocated to market and broader blockchain users; 0.7% allocated to pre-market price discovery; 30% allocated to community and ecosystem growth); 20% allocated to investors; 15% allocated to early contributors; 3% for liquidity; 17% allocated to the foundation. Aspecta will open airdrop check at 15:00 Beijing time on July 24, and open airdrop claiming at 18:00 during TGE.
Analysis: 620,000 ETH Batch Unstaking May Be Related to Large ETH Withdrawals on Aave Platform Causing Borrowing Rates to Surge
According to on-chain analyst Ai Yi, citing crypto blogger darkpool's analysis, the 620,000 ETH batch unstaking event may be related to large ETH withdrawals on the Aave platform causing borrowing rates to surge. Massive ETH deposits were withdrawn in a short time, causing borrowing rates to spike, forcing loop trading players who were previously profiting from interest spreads to suffer losses and be forced to redeem stETH for deleveraging.
Aave ETH borrowing APR once soared to 10%
Lido $stETH exit waiting period has been extended to 21 days (normally within a week)
On-chain stETH to ETH exchange still has a discount of nearly four thousandths
Regarding the implementation of loop trading, Aave's collateralization rate for ETH is 93%, meaning arbitrage players can use up to 14x leverage to obtain interest spread returns, with an annualized return on principal of around ~7% under normal circumstances.
Previous news indicated that 620,000 ETH was waiting to be unstaked, with a net redemption of about 271,000 ETH.
20 Billion PUMP Tokens Suspected to Be Transferred Back from Binance Hot Wallet to Project Party's Associated Address
According to on-chain analyst Ai Yi (@ai_9684xtpa), 20 billion PUMP tokens are suspected to have been transferred back from Binance's hot wallet to the project party's associated address.
It is reported that these tokens were deposited into Binance a week ago and transferred to address 9SnqX...seSGz, and were then transferred back in batches from this address half an hour ago. The analyst stated that tomorrow is the expected airdrop date.
Arthur Hayes: Predicts Bitcoin Will Reach $250,000 and Ethereum $10,000 by Year-End
According to Cointelegraph, Arthur Hayes predicts that Bitcoin's price will reach $250,000 and Ethereum will touch $10,000 by the end of the year. Hayes noted that the Trump administration's wartime economic policies are creating credit growth flowing into the cryptocurrency market, and the model of stablecoin issuers buying Treasury bonds to finance government deficits will further drive market growth.
FTX: Next Distribution Scheduled for September, Disputed Claim Reserve Reduced by $1.9 Billion
FTX announced that the next fund distribution will begin on September 30, 2025, with the record date on August 15. This distribution is for eligible customers, general unsecured claim holders, and previous non-distributed convenience claim holders.
The bankruptcy court has approved FTX's reduction of disputed claim reserves from $6.5 billion to $4.3 billion, releasing approximately $1.9 billion for this distribution.
The distribution will be conducted through three service providers: BitGo, Kraken, and Payoneer. FTX reminds users to complete KYC verification and tax form submission, and to be wary of potential phishing scams.
Crypto Mining Company MARA to Issue $850 Million Convertible Notes to Buy More Bitcoin
According to the official announcement, Bitcoin mining company MARA Holdings announced the issuance of $850 million of 0% convertible notes to purchase more Bitcoin (and repay $50 million of old notes and for general corporate purposes).
MEI Pharma Completes $100 Million Private Placement, Incorporates Litecoin into Financial Reserves
According to BusinessWire, MEI Pharma (NASDAQ: MEIP) announced the completion of a $100 million private placement, planning to use the funds to purchase Litecoin (LTC) as a financial reserve asset. The report suggests that this makes MEI the first company listed on a national exchange to hold Litecoin. Litecoin founder Charlie Lee joined MEI's board of directors, and digital asset institution GSR was hired as a financial management advisor. The placement issued approximately 29.24 million shares at $3.42 per share, with participants including the Litecoin Foundation and multiple investment institutions.
Market Dynamics
Recommended Reading
This article focuses on the GENIUS Act, the first federal law in the US regarding the crypto industry, aimed at establishing clear rules for the market, promoting growth, competition, and consumer protection. The bill, supported by bipartisan cooperation, will have far-reaching impacts on cryptocurrencies, stablecoins, and the global financial system, while also consolidating the US dollar's position in the global economy.
Ethereum's $1.9 Billion Unstaking Tide: Profit-Taking or a New Ecosystem Starting Point?
The article discusses Ethereum validators experiencing an unstaking wave worth approximately $1.9 billion, raising market concerns about ETH prices. Despite the large unstaking volume, it does not necessarily mean direct selling pressure. Some institutional behaviors and on-chain arbitrage opportunities mitigate potential risks, and unstaking is more of an internal ecosystem adjustment rather than a selling signal. Additionally, institutions like BlackRock increasing ETH holdings are driving its financialization process.
Arthur Hayes' Latest Prediction: Bitcoin at $250,000, Ethereum at $10,000, See You by Year-End
The article explores how the Trump administration's fascist economic policies are driving cryptocurrency market growth to support US economic and defense needs. It analyzes the impact of credit supply expansion on Bitcoin and the crypto market, and predicts potential cryptocurrency price trends. The author also elaborates on the role of cryptocurrencies and stablecoins in financing US fiscal deficits and offers investment strategy recommendations for cryptocurrencies.
Bullish, Emerging from EOS, Officially Charges Towards NYSE
The article provides a detailed introduction to the development history, operating model, and complex relationship between cryptocurrency trading platform Bullish and EOS. It also discusses Block.one's fund usage and Bullish's challenges and efforts in compliance and listing. Additionally, the article explores Bullish's technical positioning, market strategy, and collaboration with stablecoin USDC.
IOSG: Crypto Stock Battle, Are SBET and BTCM Innovations or Bubbles?
This article discusses the trend of corporate crypto asset reserves, focusing on innovative initiatives in Bitcoin and Ethereum reserve strategies, including financing structures, tax optimization, staking yields, and integration with the DeFi ecosystem, while revealing the market performance and challenges of related enterprises.
