Key Takeaways
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Macro Environment: On Friday, reports indicated that Trump is pushing for higher tariffs on the EU. However, soft inflation expectations and improved consumer sentiment data boosted confidence. U.S. equities closed mixed. Tech stocks outperformed, helping the Nasdaq notch a modest gain and another intraday all-time high.
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Crypto Market: Trump officially signed the Stablecoin Bill, but Bitcoin logged its third consecutive daily decline. Capital rotated into ETH, as ETH spot ETFs saw a record net inflow of $2.18 billion last week, driving an 8-day winning streak for ETH, with a high above $3,800. The ETH/BTC ratio rebounded to 0.032. Bitcoin's market dominance fell below 61%, while confidence in altcoins recovered, especially ETH and stablecoin-related projects.
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Today's Outlook: Berachain proposed to reallocate 33% of PoL rewards initially meant for BGT to the BERA yield module. EV company Volcon is expected to raise over $500 million around July 21 to initiate a Bitcoin treasury strategy.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,296.78 | -0.01% |
| NASDAQ | 20,895.66 | +0.05% |
| BTC | 117,263.90 | -0.50% |
| ETH | 3,756.99 | +4.59% |
Crypto Fear & Greed Index: 71 (previous 24 hours: 72), level: Greed
Project Highlights
Trending Tokens: ETH, CFX, ENA
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CFX (+104%): Conflux's Tree-Graph public chain 3.0 will officially launch in August. An article published by the Shanghai municipal government endorsed the project. The CFX price has doubled.
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ENA (+12%): USDE supply exceeded $6 billion, hitting a new all-time high.
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ACH (+16%): Alchemy Pay received investment and obtained Type 1, 4, and 9 licenses in Hong Kong.
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INJ (+5%): CANARY submitted an S-1 filing for a Staked INJ ETF.
Macro Economy
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The U.S. Department of Commerce announced a 93.5% anti-dumping duty on Chinese anode-grade graphite.
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U.S. July 1-year inflation expectations (preliminary): 4.4%, vs. expected 5.00%
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U.S. July University of Michigan Consumer Sentiment Index (preliminary): 61.8, vs. expected 61.5
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President Trump is pushing to impose a 15%-20% minimum tariff on all EU goods.
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U.S. Commerce Secretary: Small countries must pay a 10% base tariff.
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Trump administration reviewing contracts of Elon Musk’s companies.
Industry Highlights
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Trump signed the GENIUS Act.
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Trump: Stablecoins are a revolution in fintech; pledged never to allow the creation of a CBDC in the U.S.
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The White House: The GENIUS Act will pave the way for the U.S. to lead the global digital currency revolution.
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Michael Saylor posted another update on Strategy's BTC holdings, with a possible purchase update next week.
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The Ethereum Foundation announced a global community event on July 30 to celebrate Ethereum's 10th anniversary.
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On Polymarket, the odds of Trump attempting to fire Powell before the end of August rose to 21%.
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Nasdaq-listed MEI Pharma plans to invest over $100 million to establish an LTC treasury.
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WLFI: Token tradability has been approved; full rollout expected in 6–8 weeks.
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SharpLink Gaming filed to resell $5 billion worth of stock, aiming to buy ETH.
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Bloomberg analysts: BlackRock’s ETH staking approval deadline is April next year, but approval could come as early as Q4 2025.
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