Key Takeaways
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Macro Environment: U.S. retail sales for June exceeded expectations, showcasing economic resilience and once again dampening rate cut expectations. The U.S. dollar and Treasury yields rose. TSMC’s earnings report boosted AI confidence, lifting tech stocks—both the S&P and Nasdaq continued to hit new record highs.
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Crypto Market: The U.S. House of Representatives passed three major crypto bills: the CLARITY Act and Anti-CBDC Surveillance State Act are now headed to the Senate, while the GENIUS Act will be signed by Trump on Friday. The legislation lifted market sentiment, pushing BTC back to $120,000, up 0.45%. The Stablecoin Act and BlackRock’s ETH staking application further boosted ETH, which surged past $3,600. The ETH/BTC ratio climbed to 0.03. BTC dominance fell for the fifth consecutive day to 62.25%. The CLARITY Act triggered significant gains in tokens previously labeled as securities by the SEC, such as HBAR, XRP, ALGO, ADA.
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Today's Outlook: TRUMP Token: Unlocks 45% of circulating supply, valued at ~$878 million，MELINIA Token: Unlocks 4.07% of supply, valued at ~$5.2 million
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,297.35 | +0.54% |
| NASDAQ | 20,884.27 | +0.74% |
| BTC | 119,176.70 | +0.45% |
| ETH | 3,476.98 | +3.13% |
Crypto Fear & Greed Index: 73 (down from 74), classified as Greed
Project Highlights
Trending Tokens: ETH, LDO, XRP, HBAR, ERA
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CLARITY Act Impact: HBAR, XRP, ALGO, and ADA—previously labeled as securities—saw substantial increases.
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LDO / RPL: BlackRock’s iShares Ethereum ETF staking application drove liquid staking tokens LDO (+17%) and RPL (+26%) higher.
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INJ: CANARY filed an S-1 form for a Staked INJ ETF.
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ACH: Alchemy Pay secured Hong Kong licenses Type 1, 4, and 9.
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ERA: After listing on major global and Korean exchanges, ERA surged 76%.
Macro Economy
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Trump once again posted urging the Fed to cut interest rates.
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Fed's Mary Daly: Two rate cuts in 2025 are a reasonable expectation.
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U.S. June Retail Sales: Rose 0.6% MoM, beating forecasts.
Industry Highlights
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U.S. House of Representatives passed all three key crypto-related bills: CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act. The first two will proceed to the Senate, while the GENIUS Act will be signed by Trump on Friday.
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The Trump administration reaffirmed its support for tax-free small crypto transactions and plans to push relevant legislation.
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Trump also plans to issue an executive order allowing crypto assets in 401(k) retirement plans.
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Russia’s largest bank, Sberbank, plans to offer custody services for crypto assets.
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BlackRock’s iShares Ethereum ETF submitted a staking application.
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Wintermute’s founder: There is virtually no ETH available on OTC platforms.
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SharpLink plans to sell another $5 billion in shares to accumulate Ethereum.
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Bit Origin, a U.S.-listed firm, raised $500 million and announced a Dogecoin treasury strategy.
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