Key Takeaways
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Macro Environment: Federal Reserve officials adopted a dovish tone, keeping the probability of a September rate cut above 93%. Apple announced a $100 billion U.S. investment plan to circumvent potential tariffs, surging 5% on the news. Tech stocks buoyed the broader U.S. equity markets, leading to gains across all three major indexes, while small-cap stocks lagged.
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Crypto Market: Following the White House’s announcement of Apple’s $100 billion plan, Bitcoin rose in tandem with U.S. equity indices, closing up 0.74% on the day. Ethereum’s strong performance was supported by corporate reserve strategies, with total reserves surpassing net inflows of ETH ETFs. ETH/BTC rebounded to 0.032. Altcoins showed broad-based appreciation against fiat currencies.
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Outlook for Today:
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Trump's reciprocal tariffs delayed by one week, now effective August 7
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Hong Kong RWA registration platform to launch on August 7
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Bank of England interest rate policy decision
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Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,345.05 | +0.73% |
| NASDAQ | 21,169.42 | +1.21% |
| BTC | 114,979.70 | +0.74% |
| ETH | 3,682.27 | +1.95% |
Crypto Fear & Greed Index: 62 (up from 54 in the past 24 hours), current sentiment: Greed
Project Highlights
Trending Tokens: MYX, CAKE, PROVE
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SEC Stance: The U.S. SEC stated that liquid staking activities are not considered securities, leading to gains in protocols like LDO and RPL.
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CAKE (+7%): PancakeSwap launched perpetual contracts for U.S. stocks.
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PUMP (+6%): pump.fun introduced an incentive and buyback program; token issuance has now surpassed Letsbonk.
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ORCA (+4%): Orca DAO proposed using treasury funds for ORCA buybacks and validator staking; the proposal is now in the on-chain voting phase.
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MYX (+90%): Funding rate remains negative at -1%; 24-hour futures trading volume exceeded $5.8 billion, driving another short squeeze with a 90% price surge.
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PROVE (-1.5%): Brief spike after listing on a Korean exchange, followed by a pullback.
Macro Economy
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Mary Daly (Fed): Labor market is slowing; tariffs have only short-term effects. Fed likely to cut rates soon.
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Neel Kashkari (Fed): Two rate cuts this year still seem appropriate.
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White House: Trump to impose a 25% tariff on Indian goods.
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White House: Apple commits to an additional $100 billion in U.S. investments.
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Trump: May impose tariffs on select countries.
Industry Highlights
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Cosmos Health secures $300 million in financing to initiate Ethereum treasury strategy
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CBOE files to allow staking for VanEck’s Ethereum ETF
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Vitalik: Ethereum will eventually enable instant native asset transfers across L2s via L1
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Backed’s tokenized stock trading volume surpasses $2 billion
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Parataxis merges with SPAC to form a $640 million Bitcoin treasury company
This Week’s Outlook
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August 7: Trump’s reciprocal tariffs take effect (postponed by a week); Hong Kong RWA registration platform launch; Bank of England policy decision
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August 8: U.S. deadline for Russia and Ukraine to reach agreement; IMX unlock (~1.3% of supply, valued at ~$12.2 million)
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