Key Takeaways
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Macro Environment: Reports suggest the US and EU are close to reaching a 15% tariff agreement, boosting market risk appetite. US stock markets closed higher across the board, with the S&P 500 and Nasdaq hitting new all-time highs, and the Russell 2000 index rising by 1.53%. Tesla's Q2 earnings disappointed with the largest sales drop in a decade, causing its stock to fall over 5% after hours. In contrast, Google's parent company exceeded expectations for Q2, with its stock up 3.4% after hours.
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Crypto Market: Bitcoin fell under pressure during the Asian session but recovered during the US trading session. The Coinbase Premium Index remained positive, indicating strong US buying interest. Ethereum extended its correction, falling 3.15% on the day and logging its second consecutive daily decline. Bitcoin's market dominance rose to 61.8%, signaling a contraction in market risk appetite as altcoins broadly pulled back.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,358.90 | +0.78% |
| NASDAQ | 21,020.02 | +0.61% |
| BTC | 118,747.20 | -1.01% |
| ETH | 3,628.15 | -3.15% |
Crypto Fear & Greed Index: 71 (previously 74 24 hours ago), categorized as "Greed"
Project Highlights
Trending Tokens: SAHARA, SPK, RUDI
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Recent Gainers: Newly listed tokens such as SPK, SAHARA, C, ERA saw collective price increases
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A: Vaulta secured $6 million in strategic funding from WLFI
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XRP: Nature's Miracle Holding announced a $20 million enterprise XRP treasury initiative
Macro Economy
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US Treasury Secretary: Trade talks with China are back on track; decoupling is not the goal
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The US and EU are nearing a 15% tariff agreement, but the EU is preparing a retaliatory tariff package worth up to €93 billion, with rates up to 30%, in case no deal is reached before August 1
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Trump: Plans to impose simple tariffs of 15% to 50% on most countries
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Trump: Willing to scrap tariffs if major countries open their markets to the US
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Trump criticized Powell, stating the FOMC should take action
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Treasury Secretary Bessent: Trump said he won’t fire Powell; a new Fed Chair nominee may be announced in December or January
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The White House released Trump’s AI Action Plan
Industry Highlights
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The Trump administration’s Digital Asset Working Group will publish its 180-day report on July 30
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Fidelity submitted an amendment to its spot Bitcoin ETF filing to allow in-kind creation and redemption
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Mining firm MARA to issue $850 million in convertible notes to purchase Bitcoin
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Canadian-listed company Matador raised $100 million to build Bitcoin reserves
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CNBC: Goldman Sachs and BNY Mellon to launch a tokenized money market fund
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WLFI increased holdings by 560.71 ETH at an average price of $3,567
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FTX to initiate its next round of creditor repayments on September 30, with a nearly $2 billion cut in disputed claims reserves
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LetsBONK allocate 1% of total protocol revenue for buybacks of top-tier meme tokens within its ecosystem
This Week’s Outlook
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July 25: ALT token unlock (6.39% of supply, ~$8.9M)
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