Key Takeaways
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Macro Environment: U.S. Core PCE for June came in lower than expected, indicating mounting inflationary pressure. Meanwhile, with the tariff deadline approaching, former President Trump plans to raise tariffs on Canada and other countries. Rising risk-off sentiment led to a broad decline across the three major U.S. stock indexes.
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Outlook for Today:
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U.S. July Nonfarm Payrolls (NFP) data release
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Trump had previously extended the “reciprocal tariffs” grace period until August 1 and has stated there will be no further extension
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Hong Kong to begin enforcing the Stablecoin Regulation Ordinance from August 1 — promoting public awareness that unlicensed stablecoin promotion will be considered illegal
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SUI token unlock: 1.27% of total supply, valued at ~$188M
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GPS token unlock: 20.42% of total supply, valued at ~$11.6M
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Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,339.38 | -0.37% |
| NASDAQ | 21,122.45 | -0.03% |
| BTC | 115,770.20 | -1.76% |
| ETH | 3.699.16 | -2.92% |
Crypto Fear & Greed Index: 65 (vs. 72, 24 hours ago) — Level: Greed
Project Highlights
Trending Tokens: BNKR, IP, TON
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BNKR (+46%): Listed by Coinbase
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IP (+1.1%): Grayscale launched a Story Protocol Trust
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SUI (-6.5%): After completing a $450M private placement, Mill City purchased 76.3 million SUI at an average price of $3.6389 per token
Macro Economy
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U.S. June Core PCE YoY: 2.8%, a new high since February; market expected 2.7%
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Trump plans to impose higher tariffs on countries failing to reach trade agreements by Friday’s deadline
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Canada tariffs to rise from 25% to 35%
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Bank of Japan kept rates unchanged, in line with expectations
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China Ministry of Commerce: U.S. and China will continue to extend the suspended 24% U.S. reciprocal tariffs and China’s countermeasures by 90 days
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U.S. Treasury Secretary Bessent expects the Fed chair nomination to be announced by year-end
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Amazon and Apple reported Q2 revenues exceeding market expectations
Industry Highlights
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SEC Chair: Most crypto assets are not securities; instructed staff to draft clear regulations aligned with White House crypto recommendations; new framework to enable parallel trading of crypto and non-crypto securities
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SEC launched Project Crypto to push for on-chain integration in financial markets
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Tether: Holds $127B in U.S. Treasuries, Q2 net profit approx. $4.9B
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Strategy: Q2 revenue hit a record high, aims to raise $4.2B to purchase more Bitcoin
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Several firms submitted revised S-1 filings for SOL ETFs
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Coinbase: Acquired 2,509 BTC in Q2; revenue was $1.5B, slightly below expectations
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SharpLink Gaming: Purchased 11,259 ETH, worth approx. $43.09M
This Week’s Outlook
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August 1: U.S. July Nonfarm Payrolls; Trump’s delayed “reciprocal tariffs” set to expire unless further extended; Hong Kong to enforce the Stablecoin Bill — promoting unlicensed stablecoins will be deemed illegal;
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SUI unlock (1.27%, ~$188M)
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GPS unlock (20.42%, ~$11.6M)
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Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
