BTC could retest its all-time high of $73,777 following the current correction

Hot projects + Market overview

I. Mainstream exchange news

• Coinbase Asset Management is planning to launch a tokenized money-market fund, according to CoinDesk.
• Coinbase has listed gaming token BLOCKLORDS (LRDS).
• Binance will remove spot trading pairs including AVAX/TUSD and MATIC/TUSD on July 26.
• OKX Jumpstart will launch Matr1x (MAX) mining on July 29.

II. Mainstream projects and trending events

• Polymarket, a decentralized prediction market platform, has surpassed $1 billion in total trading volume.
• Decentralized exchange D8X will launch a leveraged trading market based on Polymarket.
• According to FOX Business, US pro-crypto Republican Senator Cynthia Lummis is preparing to announce a new bill at this week's Bitcoin annual conference, proposing that the Federal Reserve hold Bitcoin as a strategic reserve asset.
• Crypto asset management firm Hashdex has submitted an S-1 filing for a crypto index ETF to the US SEC.
• As of July 24, Mt. Gox has compensated over 17,000 creditors.
• Uniswap Labs has announced a major upgrade to the permissionless protocol UniswapX, enhancing the trading experience.
• deBridge, a cross-chain service provider, will issue governance token DBR within the next month, with the activity snapshot already completed.
• Proton, a privacy and security company, has launched a self-custody Bitcoin wallet called Proton Wallet.
• JD.com will issue a stablecoin in Hong Kong, pegged 1:1 to the Hong Kong dollar based on a public blockchain.
• BlackRock's tokenized treasury fund BUIDL fund is discussing with Ethena about a $34 million investment plan.
• Pump.fun has surpassed $70 million in revenue.

III. Funding news

• Yup, a decentralized social platform aggregator, has received investment from Nascent and IDEO CoLab Ventures.
• Redpill, a decentralized AI innovation platform, has completed a $5 million seed round led by Animoca Brands.
• Assisterr, a Web3 AI platform, has completed a $1.7 million pre-seed funding round.
• Caldera, a Web3 infrastructure platform, has raised $15 million in a Series A round led by Founders Fund, with participation from Sequoia Capital.
• Panda Titan, a Web3 gaming project, has received a $3 million investment from Archer Capital.
• DAOBase, an AI-driven data and infrastructure platform, has raised $6 million.

IV. Regulatory news

• ​​The Korean Financial Supervisory Service has met with the top five crypto exchanges to discuss the calculation of deposit utilization rates.
• Thailand's digital wallet registration will be open from August 1 to September 15.

V. Popular projects 

Market Overview

BTC hit a low of $63,800. Key levels for this correction phase are $65,000, $63,500, and $62,500. The more minor the correction, the higher the probability of retesting BTC's previous high of $73,777.

Following this correction, BTC is expected to challenge its previous high.

ETH has been declining since the ETH ETF announcement. Similar to BTC's 20% drop after the approval of BTC spot ETFs, ETH, which peaked at $3,562, might fall to around $2,850, approaching its previous low.

US BTC Spot ETF Updates - July 24

Overall Data:

Total Net Inflows: $17.5 billion

Daily Net Inflows: $44.51 million

Single-Day Turnover: $1.5 billion

Proportion of BTC’s Market Value: 4.61%

Breakdown by ETF:

GBTC:

Net Asset Value: $17.81 billion （-0.15%）

Single-Day Net Outflows: $26.22 million

Cumulative Net Outflows: $18.75 billion

Single-Day Turnover: $241 million

IBIT:

Net Asset Value: $22.2 billion （+0.30%）

Single-Day Net Inflows: $65.99 million

Cumulative Net Inflows: $19.63 billion

Single-Day Turnover: $885 million

FBTC:

Net Asset Value: $11.92 billion （+0.01%）

Single-Day Net Inflows: $1.44 million

Cumulative Net Inflows: $9.99 billion

Single-Day Turnover: $206 million

ETH Spot ETF Updates - July 24

Overall Data:

Total Net Outflows: $26.38 million

Daily Net Outflows: $133 million

Single-Day Turnover: $1.05 billion

Proportion of ETH’s Market Value: 2.35%

Breakdown by ETF:

ETHE:

Net Asset Value: $8.04 billion (-3.9%)

Single-Day Net Outflows: $326 million

Cumulative Net Outflows: $810 million

Single-Day Turnover: $500 million

ETHW:

Net Asset Value: $230 million (-14.79%)

Single-Day Net Inflows: $29.64 million

Cumulative Net Inflows: $233 million

Single-Day Turnover: $50.77 million

FETH:

Net Asset Value: $148 million (+101.25%)

Single-Day Net Inflows: $74.46 million

Cumulative Net Inflows: $145 million

Single-Day Turnover: $114 million

MAGAA is up 30%

The price of MAGAA, a memecoin with the slogan "Make America Great Again, Again," has surged 30% in the last 24 hours. 

The token is linked to the Trump election campaign. 80% of the funds are allocated to user liquidity pools, 10% for CEX listings, and 10% for marketing. 

A 1% tax on buying and selling MAGAA is used for Trump's national campaign and advertising, having raised $300,000 to date. 

The token's on-chain liquidity is $2.18 million, with 3,160 holding addresses.

KENDU is up 14%

KENDU, a memecoin featuring the combination of six native Japanese dog breeds to symbolize peace, life, and unity, has surged 14% in a day. 

Launched on February 21, 2024, it has reached a market cap of $163 million with on-chain liquidity of $2.3 million. The KENDU token has seen a 9000-fold increase from its initial price and currently has 13,000 holding addresses.

CWIF is up 14%

The price of Catwifhat (CWIF), a cat-themed memecoin mimicking WIF, has surged by 14% over the last 24 hours. The project has gained 216,000 followers on X.

The CWIF token's market cap has reached $42.25 million, with on-chain liquidity of $3.16 million. It is not yet listed on major exchanges.  It has been listed on multiple mid-tier exchanges.

On-chain Daily

1. HARRIS: HARRIS is a memecoin on the Ethereum chain featuring the current US Vice President Kamala Harris. Harris is poised to become the first female President of the United States. Influenced by the latest round of Democratic campaign donations raising $81 million in 24 hours, her winning probability on Polymarket has risen to 37%.

Current Price: $0.00002124

Historical High: $0.00003696

24-Hour Change: +68.49%

Current Market Value: $8.9M

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

2. Kendu: Kendu is a memecoin on the Ethereum chain, themed around Japanese-style dogs.

Current Price: $0.0001712

Historical High: $0.000281

24-Hour Change: +19.47%

Current Market Value: $169M

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

3. SELFIE: SELFIE is a memecoin on the Solana chain, featuring a narcissistic Shiba Inu taking selfies, now community-managed.

Current Price: $0.02054

Historical High: $0.035

Yesterday's High: $0.03272

24-Hour Change: +143%

Current Market Value: $20.5M

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

4. SCF: SCF is a memecoin on the Solana chain, with a logo of a chicken body and a smoking fish head.

Current Price: $0.02192

24-Hour Change: +510%

Current Market Value: $22M

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

5. TIMI: TIMI features a green dinosaur wearing a Coinbase Logo outfit and holding a Coinbase Logo flag, with the little dinosaur perched on Coinbase CEO Brian Armstrong's bald head.

Current Price: $0.003886

24-Hour Change: +55.39%

Current Market Value: $3.6M

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

6. Crash: Crash is the official commemorative coin for X user @CrashiusClay69.

Current Price: $0.009531

Historical High: $0.04098

24-Hour Change: -10.99%

Current Market Value: $9.1M

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

Daily Rune Observation

Gas Fee Change:

The current BTC transaction fee is 4 satoshis/byte, consistently low for the past two weeks regardless of Bitcoin's price.

Today's Popular Projects:

1. BYZANTINE•GENERAL

- Fully minted

- Market Value: $1.22M

- 24-Hour Trading Volume: $11,317

- 24-Hour Change: +33%

- Holding Addresses: 700

2. KAMALA•HARRIS

- Fully minted

- Market Value: $228K

- 24-Hour Trading Volume: $9,773

- 24-Hour Change: +7%

- Holding Addresses: 317

3. NICOLAS•PI•RUNES

- Fully minted

- Market Value: $4.9M

- 24-Hour Trading Volume: $106,564

- 24-Hour Change: +5.7%

- Holding Addresses: 9,020

Top Rune Projects Tracking:

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

- Current Price: 5.86 Sats

- 24-Hour Change: -5.17%

- Current Market Value: 5,860 BTC

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

- Current Price: 7.4 Sats

- 24-Hour Change: +3%

- Current Market Value: 1,550 BTC

3. RSIC•GENESIS•RUNE: Rune #8, from the RSIC inscription mining project

- Current Price: 5.45 Sats

- 24-Hour Change: +12%

- Current Market Value: 1,140 BTC

Performances of Today's Top Three Tracks

Payment Sector: An overall daily increase of 0.95%

Gainers:

Cirus: Cirus enables users to turn their data into cryptocurrency, allowing them to control, monetize, and profit directly from their own data.

Daily Increase: 17%

Current Price: $0.01

Current Market Value: $1.4M

24-Hour Trading Volume: $1.2M

ZPAY: ZPAY provides a range of end-to-end crypto payment solutions for online and in-store shopping. It allows retail customers to buy products and services from online retailers like Amazon, Walmart, and eBay using cryptocurrencies.

Daily Increase: 12%

Current Price: $0.02

Current Market Value: $7.9M

24-Hour Trading Volume: $232K

PCI: PCI focuses on making transactions convenient and easy to use in various consumer scenarios, operating within a broader ecosystem.

Daily Increase: 4.7%

Current Price: $0.14

Current Market Value: $144M

24-Hour Trading Volume: $5.95M

AI Sector: An overall daily increase of 3.1%

Gainers:

TRAC: TRAC uses knowledge graphs and blockchain technology to provide an open ecosystem. It operates as a multi-chain decentralized knowledge graph (DKG) on Ethereum, Polygon, and Gnosis blockchains.

Daily Increase: 20%

Current Price: $0.0015

Current Market Value: $315M

24-Hour Trading Volume: $2.67M

AGIX: AGIX's mission is to create a decentralized, democratic, inclusive, and beneficial Artificial General Intelligence (AGI) that operates without reliance on any central entity, allowing multiple AI solutions to collaborate participatively.

Daily Increase: 7%

Current Price: $0.61

Current Market Value: $790M

24-Hour Trading Volume: $842K

OCEAN: OCEAN aims to enable businesses and individuals to exchange data and monetize it. The OCEAN token serves as the medium of exchange in the Ocean Protocol and is used to provide staking rewards.

Daily Increase: 6.8%

Current Price: $0.61

Current Market Value: $397M

24-Hour Trading Volume: $1.25M

Layer 1 Sector: An overall daily increase of 3.2%

Gainers:

G: Developed by Galxe, this Layer 1 blockchain uses ZK technology to support key products like Web3 identity authentication and task systems. It can handle up to 60 million transactions per month and leverages Galxe's existing user base of 20 million. The blockchain ensures robust security through staking and restaking protocols, including Babylon and EigenLayer.

Daily Increase: 7.5%

Current Price: $0.056

Current Market Value: $406M

24-Hour Trading Volume: $69M

FLOW: Created by Dapper Labs, the company behind CryptoKitties, Flow is a blockchain network designed to be fast, secure, and developer-friendly.

Daily Increase: 4.6%

Current Price: $0.63

Current Market Value: $959M

24-Hour Trading Volume: $139M

WIT: Witnet is designed for "autonomous" smart contracts, supporting most DeFi applications such as price feeds, stablecoins, and derivatives, and providing reliable randomness for creating unique NFTs.

Daily Increase: 4.3%

Current Price: $0.0045

Current Market Value: $6M

24-Hour Trading Volume: $103K

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