Headline News: Ethereum ETFs set Record Inflow
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Bitcoin increased by 8.98% last week and set another new all-time-high of $119,400 on July 13, position itself to challenge the $120,000 psychological price level ahead of Crypto Week. Meanwhile, Ethereum increased by 15.55% in the same period, exhibiting strong momentum as stablecoin and tokenisation adoption kicks in. The Ethereum spot ETF net inflow hit a new record high of $907.99 million last week.
Macro-Outlook: All Eyes on Inflation Data
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President Trump announced 30% tariffs on the EU and Mexico goods, effective on August 1. Trump also previously threatened to increase tariffs to 35% on Canadian goods and 50% on Brazilian goods, both effective on August 1.
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The Chairman of the board of Fannie Mae and Freddie Mac, William Pulte, released a statement stating he is encouraged that Jerome Powell is considering resigning.
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The June FOMC minutes showed a small level of split among the officials. Most officials considered lowering the policy rate in 2025 would be appropriate, while some would keep the rate unchanged in 2025. A couple of officials noted they are willing to cut rates in July if the data changed as they had anticipated.
Upcoming Economic Calendar including,
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Tuesday, July 15, 8:30pm: US Inflation Rate in June
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Wednesday, July 16, 8:30pm: US PPI in June
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Thursday, July 17, 8:30pm: US Retail Sales in June
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Friday, July 18, 10:00pm: Michigan Consumer Sentiment Preliminary Reading in July
Weekly-Cryptos-Overview: Increase Communication on Alt-ETFs Application between Regulators and Applicants, GMX Hack, PUMP Launch
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The SEC reportedly asked Solana spot ETF issuers to submit revised S-1 documents by the end of July.
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HSBC announced testing of Project e-HKD+ on Arbitrum, Ethereum, Linea and Polygon.
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Spain’s second largest bank, BBVA, announced offering Bitcoin and Ethereum trading and custody services to retail customers.
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Coinbase acquired the leadership of the decentralised option protocol, Opyn.
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Zerohash, a crypto and stablecoin infrastructure startup, raised $100 million with $1 billion valuation, led by Interactive Broker.
Layer 1 and Layer 2s
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BNB Chain’s FastFinality upgrade is now live, reducing the finality of a transaction from 180 seconds to 3.75 seconds.
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Polygon completed Heimdall v2 upgrade on Polygon PoS, reducing the finality from 90 seconds to average 5 seconds and cut the block time to 2 seconds. NRWBANK, Germany’s largest regional development bank, launched €100 million tokenised bond on Polygon.
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Monad acquired Portal, an infrastructure platform that facilitates stablecoin payments from businesses, banks and more.
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Eigen Labs laid off 25% of his employees to focus on EigenCloud and emphasised it was not motivated by financials.
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Ink announced acquisition of Vertex Protocol to build on Ink Layer-2. As a result, the current Vertex EVM and VRTX token will both be sunsetted, VRTX holders will be allocated with 1% of INK airdrop instead.
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Oasys partnered with GATES Inc to tokenise $75 million of Japan real estate on Oasy Chain, with plans to expand to over $200 billion worth of real estate.
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Sei Network announced integrating native USDC and CCTP v2 soon.
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Solayer adopted Telegram to deliver real-time notifications to Emerald card transaction information.
Dapps
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GMX v1 was exploited for $42 million due to a re-entrancy attack, inflating the GLP price by over 18x. The fund was later returned to GMX after $5 million paid as bounty.
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Pump.fun launched its PUMP token public sales and completed the sales in 12 minutes. The token will be distributed and becomes tradable soon. Based on the perpetual market, PUMP is traded at approximately $6 billion in FDV.
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Hyperliquid launched the CoreWriter contract on HyperEVM, enabling users to interact with the HyperCore seamlessly on HyperEVM with smart contracts.
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Solana mainstream wallet, Phantom, launched Phantom Perps, offering perpetual trading up to 40x leverage powered by Hyperliquid.
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Pendle LP can now be deposited on Morpho as collateral, offering attractive leverage opportunity to provide liquidity on Pendle.
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OpenSea acquired Rally, a user friendly crypto social trading mobile app.
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Limitless, a 0DTE trading platform on Base, launched Limitless Points Program to incentive trading.
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World partnered with Story Protocol to add a trusted layer to IP tokenisation.
Upcoming Alpha and Governance
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LFJ is expected to launch Token Mill V2, a bonding curve AMM on July 15.
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Coinbase is expected to announce “the next chapter of Base” on July 16.
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The Trump administration’s Working Group on Digital Asset Markets is expected to deliver the crypto policy report and potentially budget neutral funding strategy for Bitcoin reserve on July 22.
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Hong Kong Monetary Authority’s Stablecoin Ordinance will take effect on August 1 and the stablecoin license application will be opened as well.
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NEAR is voting to reduce its inflation target from 5% to 2.5%. The vote ends on August 1 and currently 31% stake voted for Yea.
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Cookie is expected to launch Deep Research soon, enabling users who stake at least 100,000 COOKIE at access real-time information and fresh signals of a protocol. Cookie also announced tokenomic updates, where every Snaps Campaign now contributes 10% to 20% of its reward pool to COOKIE stakers, discontinuing COOKIE emissions, 10% burn when stakers unlock from Multi-Airdrop Farming and more.
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Stargate proposed to allocate $20 million to intent-based bridging systems, creating a Protocol Owned Liquidity and offering solver better spread with large size order.
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Ethereum announced plans to launch zkEVM on the mainnet by the end of November 2025, enabling less than 10 seconds in proving with modest hardware setups.
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Falcon Finance founder announced USDf holders will be able to redeem physical gold with USDf in UAE soon.
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Dabba Network, the decentralised hotspot protocol, announced it will launch DBT TGE on Bonk.live launchpad soon.
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Defi.app passed the proposal to use 80% of the protocol revenue to buyback HOME tokens using TWAP.
Token Unlock
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STRK token unlocked on July 15, amount representing 3.81% of the token supply.
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ARB token unlocked on July 16, amount representing 1.87% of the token supply.
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VANA token unlocked on July 16, amount representing 1.47% of the token supply.
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DBR token unlocked on July 17, amount representing 20.3% of the token supply.
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SOLV token unlocked on July 17, amount representing 20% of the token supply.
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APE token unlocked on July 17, amount representing 1.92% of the token supply.
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CLOUD token unlocked on July 18, amount representing 69.7% of the token supply.
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ZK token unlocked on July 19, amount representing 2.42% of the token supply.
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MERL token unlocked on July 19, amount representing 4.98% of the token supply.
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ZRO token unlocked on July 20, amount representing 22.2% of the token supply.
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PLUME token unlocked on July 21, amount representing 4.26% of the token supply.
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AVAIL token unlocked on July 23, amount representing 38.3% of the token supply.
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INIT token unlocked on July 24, amount representing 1.58% of the token supply.
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ALT token unlocked on July 25, amount representing 6.4% of the token supply.
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H token unlocked on July 25, amount representing 5.01% of the token supply.
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SAHARA token unlocked on July 26, amount representing 4.12% of the token supply.
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RON token unlocked on July 27, amount representing 4.83% of the token supply.
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