BTC could rebound to $71K-72K and $400 million in BTC could be liquidated

Hot projects + Market overview

I. Mainstream exchange news

• Binance has updated the collateral rates for some assets including PEPE, NOT, and BONK, in its unified account.
• Binance Web3 Wallet has started supporting Mantle, Cyber, Gravity, and BOB networks.
• Binance has completed the token swap and rebranding of Render (RNDR) to Render (RENDER).
• OKX will list L3, the token for Layer3, an interactive crypto learning platform.

II. Mainstream projects and trending events

• The University of Wyoming will launch a Bitcoin Research Institute in August, accepting Bitcoin donations for research purposes.
• Presidential candidate Donald Trump, speaking at the Bitcoin conference, promised to make the US a "Bitcoin mining powerhouse," urged supporters not to sell their Bitcoin, and pledged to replace SEC Chair Gary Gensler with a pro-innovation leader on his first day in office.
• Airstar Bank, a Hong Kong virtual bank, is collaborating with JD Blockchain to explore cross-border payment solutions based on stablecoins.
• Hong Kong legislator Wu Jiezhuang has suggested considering Bitcoin as part of strategic financial reserves.
• US Presidential candidate Kamala Harris's campaign team has reached out to key figures in the crypto industry, including Coinbase and Circle.
• Fourteen lawmakers including Rep. Josh Gottheimer (D-N.J.)  signed the letter to the Democratic National Committee requesting a "forward-looking approach" to digital assets, and a "pro-innovation" SEC chair.”
• According to Trade T, the Michigan State Pension Fund purchased $6.6 million worth of ARKB Bitcoin spot ETF in the second quarter.
• Standard Chartered predicts the tokenization market could reach approximately $30 trillion by 2034.
• The Sats Network, a Bitcoin Layer 2 network built on the BEVM-Stack and utilizing BRC20 inscriptions Sats as gas, has been launched.

III. Funding news

• CeDeFi platform BitFi has completed a seed round of funding with participation from IBC Group Ventures.
• Roxom, a trading services platform priced in Bitcoin, has raised $4.3 million in a pre-seed round.
• Metabit Network, a blockchain platform based on Proof of Activity and Stake (PoAS), has completed a $10 million strategic funding round to develop its blockchain ecosystem.
• Bitcoin scaling network Mezo has completed a $7.5 million strategic round of funding.
• DeFi solutions provider LayerPixel has raised $2 million in a seed round.

IV. Regulatory news

• The Swiss Financial Market Supervisory Authority (FINMA) has issued guidelines on stablecoins. In it, FINMA commented on the associated risks and possible reputational damage to the Swiss financial sector.
• A Hong Kong legislator suggests the government should focus on developing products that link virtual assets with underlying real assets.
• The Central Bank of the Philippines (BSP) plans to launch a wholesale central bank digital currency (CBDC) by 2029.

V. Popular projects 

Market Overview

Bitcoin rebounded after reaching a low of $66,650, following Donald Trump's official speech at the Bitcoin conference on July 27.

The rebound target remains at $71,000-$72,000. If BTC surpasses $71,000, it could trigger significant short position liquidations amounting to about $400 million. 

US BTC Spot ETF Updates - July 26

Overall Data:

Total Net Inflows: $17.59 billion

Daily Net Inflows: $51.66 million

Single-Day Turnover: over $2.04 billion

The proportion of BTC’s Market Value: 4.67%

Breakdown by ETF:

GBTC:

Net Asset Value: $18.38 billion (%)

Single-Day Net Outflows: $26.55 million

Cumulative Net Outflows: $18.81 billion

Single-Day Turnover: $269 million

IBIT:

Net Asset Value: $22.95 billion (%)

Single-Day Net Inflows: $23.16 million

Cumulative Net Inflows: $19.73 billion

Single-Day Turnover: $1.12 billion

FBTC:

Net Asset Value: $12.30 billion (%)

Single-Day Net Inflows: $4.45 million

Cumulative Net Inflows: $9.99 billion

Single-Day Turnover: $422 million

BITB:

Net Asset Value: $2.66 billion (%)

Single-Day Net Inflows: $31.41 million

Cumulative Net Inflows: $21.2 billion

Single-Day Turnover: $85.65 million

ETH Spot ETF Updates - July 26

Overall Data:

Total Net Outflows: $341 million

Daily Net Outflows: $162 million

Single-Day Turnover: $933 million

Proportion of ETH’s Market Value: 2.36%

Breakdown by ETF:

ETHE:

Net Asset Value: $7.11 billion 

Single-Day Net Outflows: $356 million

Cumulative Net Outflows: $1.51 billion

Single-Day Turnover: $485 million

ETHW:

Net Asset Value: $255 million (%)

Single-Day Net Inflows: $15.96 million

Cumulative Net Inflows: $265 million

Single-Day Turnover: $25.93 million

FETH:

Net Asset Value: $218 million (%)

Single-Day Net Inflows: $39.26 million

Cumulative Net Inflows: $219 million

Single-Day Turnover: $78.56 million

ETHA:

Net Asset Value: $439 million (%)

Single-Day Net Inflows: $87.22 million

Cumulative Net Inflows: $442 million

Single-Day Turnover: $204 million

Neiro gains market traction

Atsuko Sato, the owner of Kabosu,  the Shiba Inu behind the original Doge meme, has posted a new photo of a dog named Neiro, leading to a swift rise in the NEIRO token. 

Currently, there are two NEIRO tokens in the market. The one with the contract ending in Z6UL has the largest market cap and highest market interest, driving the speculation. Another NEIRO token, with a contract ending in the pump, claims to be the earliest created but has a lower market cap.

DOG is up 14%

DOG, a doge-related memecoin, has surged 14% in the last 24 hours, following the endorsement of Atsuko Sato, the owner of the original Doge.

Sato stated on X that she exclusively endorses the DOG project by Own The Doge. 

The DOG tokens originated from the Doge NFT, based on the image posted by Sato in 2010. In 2021, PleasrDAO acquired the original Doge meme's NFT and fractionalized it into DOG tokens.

The current market cap of DOG is $117 million.

Significant token unlocks this week

This week, tokens worth over $300 million are set to unlock, including:

Optimism (OP) is set to unlock about 31.34 million tokens on July 31, representing 2.79% of the current circulating supply, valued at about $54.5 million.

ZetaChain (ZETA) will unlock around 53.89 million tokens on August 1, accounting for 18.92% of the current circulating supply, valued at approximately $34.8 million.

Sui (SUI) is set to unlock roughly 64.19 million tokens on August 1, representing 2.56% of the current circulating supply, valued at around $50.6 million.

Wormhole (W) will unlock about 600 million tokens on August 3, representing 33.33% of the current circulating supply, valued at approximately $174 million.

On-chain Daily

1. NEIRO: NEIRO is a memecoin on the Ethereum chain, inspired by the new dog owned by Doge's owner. It has sparked interest across various chains, with tokens distinguished by case sensitivity (NEIRO and neiro). When NEIRO (all caps) rises, neiro (in small letters) falls, and vice versa.

- Current Price: $0.0146

- Historical High: $0.0189

- 24-Hour Change: +816%

- Current Market Value: $14.4M

Official Twitter: https://x.com/neiro_ethereum

2. Fluffy: Fluffy is a memecoin on the Ethereum chain, featuring a white cat from Matt Furie’s “Mindviscosity.”

- Current Price: $0.0000466

- Historical High: $0.000077

- 6-Hour Change: +266%

- Market Value: $1.9M

Official Twitter: https://x.com/thefluffytoken?s=11

3. Neiro: Neiro is a memecoin on the Solana chain launched through the pump.fun, backed by well-known Solana KOL Ansem. The coin's value fluctuated dramatically due to his involvement.

- Current Price: $0.0554

- Historical High: $0.123

- 24-Hour Change: -35%

- Current Market Value: $55M

Official Twitter: https://x.com/neirosol

4. Mumu: Mumu is a memecoin on the  Solana chain, featuring a bullish mascot.

- Current Price: $0.0000846

- Historical High: $0.000108

- 24-Hour Change: +20%

- Current Market Value: $197M

Official Twitter: https://x.com/mumu_bull

5. SCF: SCF is a cult-style memecoin on the Solana chain, featuring a smoking salmon trapped inside a chicken.

- Current Price: $0.0628

- Historical High: $0.095

- 24-Hour Change: +27%

- Current Market Value: $62M

Official Twitter: https://x.com/churchofthescf

6. Colorpepe: Colorpepe is a memecoin on the Base chain derived from $PEPE. Holders of $colorpepe receive NFTs through the BC-404 token standard, which utilizes a bonding curve model.

- Current Price: $0.1122

- Historical High: $0.22

- 24-Hour Change: +20%

- Current Market Value: $4.7M

Official Twitter: https://x.com/Color_pepe

Daily Rune Observation

Gas Fee Change:

The current BTC transaction fee is 4 satoshis/byte, remaining low despite price fluctuations and persisting for three weeks.

Today's Popular Projects:

1. TUBBY•MOUSE•EATS•CATS

   - Total Supply: 21,000

   - Reserved: 0%

   - Currently Minted: 20,500

   - In Mempool: 202

   - Minting Progress: 98%

   - Holding Addresses: 616

2. COOK•THE•MEMPOOL

   - Fully minted

   - Market Value: $2M

   - 24-Hour Trading Volume: $2,009

   - 24-Hour Change: +6.28%

   - Holding Addresses: 28,481

3. JOKER•RUNES•COIN

   - Fully minted

   - Market Value: $722K

   - 24-Hour Trading Volume: $3,163

   - 24-Hour Change: +5.6%

   - Holding Addresses: 10,170

Top Rune Projects Tracking:

- DOG•GO•TO•THE•MOON: Rune #3, airdrop Runes of Runestone

  - Current Price: 5.97 Sats

  - 24-Hour Change: -1.95%

  - Current Market Value: 5,970 BTC

- BAMK•OF•NAKAMOTO•DOLLAR: Synthetic dollar protocol on Bitcoin L1

  - Current Price: 5.8 Sats

  - 24-Hour Change: -14%

  - Current Market Value: 1,220 BTC

- RSIC•GENESIS•RUNE: Rune #8, from RSIC inscription mining project

  - Current Price: 4.35 Sats

  - 24-Hour Change: -9.4%

  - Current Market Value: 911 BTC

Performances of Today's Top Three Tracks

Broad Gains Across Leading Sectors

Layer1: An overall daily increase of 2.78%

1. QKC (Quarkchain): Aims to achieve 1 million transactions per second (TPS) using sharding.

   - Daily Gain: 43.19%

   - Current Price: $0.01155

   - Market Cap: $81.5M

   - 24-Hour Trading Volume: $141M

2. OMN (Omega Network): Decentralized social platform focusing on communication, information sharing, secure payments, and DApp construction. Launched in June 2023.

   - Daily Gain: 33.72%

   - Current Price: $0.00337

   - Market Cap: $200K

   - 24-Hour Trading Volume: $100K

3. ARDR (Ardor): Blockchain-as-a-Service (BaaS) provider offering customizable subchains.

   - Daily Gain: 10.48%

   - Current Price: $0.08

   - Market Cap: $79.88M

   - 24-Hour Trading Volume: $48.93M

AI: An overall daily increase of  2.26%

1. TRAC (OriginTrail): Decentralized Knowledge Graph (DKG) and blockchain-based supply chain protocol.

   - Daily Gain: 19.89%

   - Current Price: $0.7765

   - Market Cap: $315M

   - 24-Hour Trading Volume: $1.77M

2. AGIX (SingularityNET): Decentralized AI network. Recently merged with Fetch.ai and Ocean Protocol to form the ASI alliance.

   - Daily Gain: 6.99%

   - Current Price: $0.6141

   - Market Cap: $790M

   - 24-Hour Trading Volume: $1.32M

3. OCEAN (Ocean Protocol): Data economy protocol for data and AI/ML model exchange. Part of the ASI alliance.

   - Daily Gain: 6.84%

   - Current Price: $0.6123

   - Market Cap: $397M

   - 24-Hour Trading Volume: $1.53M

Memecoins: An overall daily increase of 2.34%

1. SILLY (Silly Dragon): Solana-based memecoin inspired by Solana co-founder toly’s appearance at the Breakpoints conference in a silly dragon costume.

   - Daily Gain: 21.33%

   - Current Price: $0.01792

   - Market Cap: $17.92M

   - 24-Hour Trading Volume: $4.39M

2. MUMU (Mumu the Bull): Solana-based memecoin symbolizing a bull market mascot.

   - Daily Gain: 17.44%

   - Current Price: $0.00008445

   - Market Cap: $196M

   - 24-Hour Trading Volume: $18.08M

3. COQ (Coq Inu): Avalanche-based memecoin, one of the community tokens held by the Avalanche Foundation.

   - Daily Gain: 17.38%

   - Current Price: $0.000002438

   - Market Cap: $169M

   - 24-Hour Trading Volume: $3.79M

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