2025.7.16 (Industry Update)
Summary
• Macro Environment: June CPI data was mixed — both headline and core CPI rose from the previous month, reflecting early tariff impacts, but remained within market expectations, showing only mild growth. The Fed’s key media proxy stated that the report wouldn’t alter the current policy path, with rate cut probabilities in July and September largely unchanged. U.S. stocks were mixed, with Nvidia pushing the Nasdaq to a new high.
• Crypto Market: A transfer of 40,000 BTC by a long-dormant whale to Galaxy Digital weighed on BTC, causing it to drop below the 116k level. ETH outperformed, with ETH/BTC breaking key resistance at 0.026. Bitcoin’s dominance dropped 1.19% week-over-week, while altcoins saw trading volume rise to 53%, indicating higher activity.
Project Updates
• Trending Tokens: ETH, PUMP, THE
• Ethereum Ecosystem: ETH/BTC ratio hit a local high; ecosystem tokens such as ENS, CRV, ARB, ENA, OP, SSV, and ETHFI saw broad gains.
• PUMP: Post-launch, Pump.fun started using fee revenue to buy back PUMP. To date, it has used 111,953 SOL (~$18.34M) to purchase 3.04 billion PUMP at an average price of $0.006. PUMP surged over 15% in 24 hours.
• XRP: NYSE approved the ProShares Ultra XRP ETF; Ripple confirmed it plans to apply for a MiCA license to expand in the EU.
Today’s Preview
• CLARITY Act vote
• U.S. June PPI
• U.S. Beige Book
• House Ways and Means Committee hearing on digital asset taxation
• ARB unlock: 1.87% of supply (~$38.2M)
Major Asset Movement
• Crypto Fear & Greed Index: 70 (down from 73), still in "Greed" territory
Macro Updates
• U.S. June unadjusted CPI YoY: 2.7%, core CPI YoY: 2.9% — both above prior values, in line with expectations
• Fed media proxy: CPI report won’t alter Fed policy direction
• Trump: U.S. to impose 19% tariffs on Indonesian imports — lower than last week's threat
• Trump: New tariff letters to smaller nations coming soon, likely just above 10%
• Nvidia to resume H20 chip sales in China; NVDA up 4%
• U.S. Treasury confirms Powell successor process has begun
Regulatory Developments
• Greenland Securities (Asia) receives upgraded Hong Kong VASP license
• Standard Chartered launches BTC and ETH spot trading for institutions
• UK Treasury to support development of DLT and asset tokenization
• Ghana finalizing crypto trading regulatory framework
• U.S. DOJ ends investigation into prediction market PolyMarket
Industry Highlights
• Whale holding 80,000 BTC for over 14 years transfers 40,000 BTC (~$4.69B) to Galaxy Digital
• Nasdaq-listed Bit Digital raises ~$67.3M via equity placement to continue ETH purchases
• The Blockchain Group completes €6M capital raise for BTC treasury strategy
• OFA Group secures $100M equity funding for building crypto treasury
• Circle applies to become the first U.S. digital currency bank focused on USDC trust and institutional services
• Vitalik: The best way to build L2s is to leverage more L1 functionality
• Tether holds over $127B in U.S. Treasuries as of Q2
This Week’s Outlook
• U.S. House Financial Services Committee: Week of July 14 is "Crypto Week" — reviewing the CLARITY Act, Anti-CBDC Surveillance State Act, and GENIUS Act
• July 16: CLARITY Act vote, U.S. June PPI, Beige Book, House hearing on digital asset taxation, ARB unlock (1.87%, ~$38.2M)
• July 17: GENIUS Act vote, UXLINK unlock (9.17%, ~$14.2M), SOLV unlock (17.03%, ~$11.3M)
• July 18: TRUMP unlock (45%, ~$878M), MELINIA unlock (4.07%, ~$5.2M)
Summary
• Macro Environment: June CPI data was mixed — both headline and core CPI rose from the previous month, reflecting early tariff impacts, but remained within market expectations, showing only mild growth. The Fed’s key media proxy stated that the report wouldn’t alter the current policy path, with rate cut probabilities in July and September largely unchanged. U.S. stocks were mixed, with Nvidia pushing the Nasdaq to a new high.
• Crypto Market: A transfer of 40,000 BTC by a long-dormant whale to Galaxy Digital weighed on BTC, causing it to drop below the 116k level. ETH outperformed, with ETH/BTC breaking key resistance at 0.026. Bitcoin’s dominance dropped 1.19% week-over-week, while altcoins saw trading volume rise to 53%, indicating higher activity.
Project Updates
• Trending Tokens: ETH, PUMP, THE
• Ethereum Ecosystem: ETH/BTC ratio hit a local high; ecosystem tokens such as ENS, CRV, ARB, ENA, OP, SSV, and ETHFI saw broad gains.
• PUMP: Post-launch, Pump.fun started using fee revenue to buy back PUMP. To date, it has used 111,953 SOL (~$18.34M) to purchase 3.04 billion PUMP at an average price of $0.006. PUMP surged over 15% in 24 hours.
• XRP: NYSE approved the ProShares Ultra XRP ETF; Ripple confirmed it plans to apply for a MiCA license to expand in the EU.
Today’s Preview
• CLARITY Act vote
• U.S. June PPI
• U.S. Beige Book
• House Ways and Means Committee hearing on digital asset taxation
• ARB unlock: 1.87% of supply (~$38.2M)
Major Asset Movement
• Crypto Fear & Greed Index: 70 (down from 73), still in "Greed" territory
Macro Updates
• U.S. June unadjusted CPI YoY: 2.7%, core CPI YoY: 2.9% — both above prior values, in line with expectations
• Fed media proxy: CPI report won’t alter Fed policy direction
• Trump: U.S. to impose 19% tariffs on Indonesian imports — lower than last week's threat
• Trump: New tariff letters to smaller nations coming soon, likely just above 10%
• Nvidia to resume H20 chip sales in China; NVDA up 4%
• U.S. Treasury confirms Powell successor process has begun
Regulatory Developments
• Greenland Securities (Asia) receives upgraded Hong Kong VASP license
• Standard Chartered launches BTC and ETH spot trading for institutions
• UK Treasury to support development of DLT and asset tokenization
• Ghana finalizing crypto trading regulatory framework
• U.S. DOJ ends investigation into prediction market PolyMarket
Industry Highlights
• Whale holding 80,000 BTC for over 14 years transfers 40,000 BTC (~$4.69B) to Galaxy Digital
• Nasdaq-listed Bit Digital raises ~$67.3M via equity placement to continue ETH purchases
• The Blockchain Group completes €6M capital raise for BTC treasury strategy
• OFA Group secures $100M equity funding for building crypto treasury
• Circle applies to become the first U.S. digital currency bank focused on USDC trust and institutional services
• Vitalik: The best way to build L2s is to leverage more L1 functionality
• Tether holds over $127B in U.S. Treasuries as of Q2
This Week’s Outlook
• U.S. House Financial Services Committee: Week of July 14 is "Crypto Week" — reviewing the CLARITY Act, Anti-CBDC Surveillance State Act, and GENIUS Act
• July 16: CLARITY Act vote, U.S. June PPI, Beige Book, House hearing on digital asset taxation, ARB unlock (1.87%, ~$38.2M)
• July 17: GENIUS Act vote, UXLINK unlock (9.17%, ~$14.2M), SOLV unlock (17.03%, ~$11.3M)
• July 18: TRUMP unlock (45%, ~$878M), MELINIA unlock (4.07%, ~$5.2M)
❤2
July 17, 2025 (Industry Overview)
Summary
• Macroeconomic Environment: The June PPI hit a one-year low, slightly increasing expectations of a rate cut. Rumors of Fed Chair Powell’s dismissal triggered temporary market turmoil; safe-haven assets like gold and U.S. bonds rose in response. However, Trump later denied the dismissal rumors, leading to a rebound in risk assets. All three major U.S. stock indices closed higher, with the Nasdaq reaching a new record high.
• Crypto Market: Under pressure from Trump, a series of "Crypto Week" bills passed a procedural vote and entered the stage of substantive debate and voting. However, the second round of voting saw confusion, with the ban on CBDCs becoming a key point of contention. On market performance, BTC rebounded alongside U.S. equities, overcoming selling pressure from ancient whales and closing up 0.74%. ETH maintained its strong momentum, breaking above $3,400 and ETH/BTC surpassed 0.028. Bitcoin dominance dropped below 63%, signaling further recovery in altcoin sentiment.
• Project Updates
◦ Trending Tokens: ETH, BONK, FLOKI
◦ ETH: Continued its strong performance, peaking above $3,400; ETH/BTC surpassed 0.028
◦ Meme Sector: Broad rally led by MEW, BONK, FLOKI, CAT, BOME, and FARTCOIN
◦ TRUMP: Trump-themed meme coin TRUMP is reportedly preparing to launch a gaming project
Today's Outlook
• Vote on the "Crypto Week" legislation
• UXLINK: Unlocks 9.17% of circulating supply, worth ~$14.2 million
• SOLV: Unlocks 17.03% of circulating supply, worth ~$11.3 million
Major Asset Changes
Crypto Fear & Greed Index: 74 (up from 70 a day earlier), level: Greed
Macroeconomic Updates
• A U.S. lawmaker revealed Fed Chair Jerome Powell is about to be dismissed, confirmed by White House officials. Some insiders claimed Trump has already drafted a dismissal letter. Trump denied both the intent and the drafting of such a letter, unless Powell is found guilty of fraud in Fed renovations.
• U.S. June PPI rose 2.3% year-over-year, below prior value and expectations
• Fed Beige Book: Economic outlook ranges from neutral to slightly pessimistic
• Fed’s Bostic: Full inflationary impact of tariffs may not be seen until 2026
• Trump: Will introduce a single tariff rate for 150 countries
Regulatory Trends
• The U.S. House of Representatives passed a procedural vote on crypto legislation; a final vote is expected this week. The second round stalled, with some Republicans insisting on including a CBDC ban.
• The SEC delayed decisions on physical redemptions for Bitwise’s Bitcoin and Ethereum ETFs
Industry Highlights
• Proposal to allow trading of WLFI Token, linked to the Trump family crypto project, has passed
• SharpLink Gaming accumulated another 6,377 ETH today (~$19.56M); it still holds ~$257M available for Ethereum purchases
• Paypal plans to expand its PYUSD stablecoin to the Arbitrum chain
• Bank of America plans to launch a stablecoin, pending legal clarity
• Citigroup is exploring the issuance of a stablecoin for cross-border payments
• CME is considering 24/7 crypto trading, explicitly excluding meme coin products
This Week’s Outlook
• July 17: Vote on "Crypto Week" legislation; UXLINK unlock (9.17%, ~$14.2M); SOLV unlock (17.03%, ~$11.3M)
• July 18: TRUMP token unlock (45%, ~$878M); MELINIA token unlock (4.07%, ~$5.2M)
Summary
• Macroeconomic Environment: The June PPI hit a one-year low, slightly increasing expectations of a rate cut. Rumors of Fed Chair Powell’s dismissal triggered temporary market turmoil; safe-haven assets like gold and U.S. bonds rose in response. However, Trump later denied the dismissal rumors, leading to a rebound in risk assets. All three major U.S. stock indices closed higher, with the Nasdaq reaching a new record high.
• Crypto Market: Under pressure from Trump, a series of "Crypto Week" bills passed a procedural vote and entered the stage of substantive debate and voting. However, the second round of voting saw confusion, with the ban on CBDCs becoming a key point of contention. On market performance, BTC rebounded alongside U.S. equities, overcoming selling pressure from ancient whales and closing up 0.74%. ETH maintained its strong momentum, breaking above $3,400 and ETH/BTC surpassed 0.028. Bitcoin dominance dropped below 63%, signaling further recovery in altcoin sentiment.
• Project Updates
◦ Trending Tokens: ETH, BONK, FLOKI
◦ ETH: Continued its strong performance, peaking above $3,400; ETH/BTC surpassed 0.028
◦ Meme Sector: Broad rally led by MEW, BONK, FLOKI, CAT, BOME, and FARTCOIN
◦ TRUMP: Trump-themed meme coin TRUMP is reportedly preparing to launch a gaming project
Today's Outlook
• Vote on the "Crypto Week" legislation
• UXLINK: Unlocks 9.17% of circulating supply, worth ~$14.2 million
• SOLV: Unlocks 17.03% of circulating supply, worth ~$11.3 million
Major Asset Changes
Crypto Fear & Greed Index: 74 (up from 70 a day earlier), level: Greed
Macroeconomic Updates
• A U.S. lawmaker revealed Fed Chair Jerome Powell is about to be dismissed, confirmed by White House officials. Some insiders claimed Trump has already drafted a dismissal letter. Trump denied both the intent and the drafting of such a letter, unless Powell is found guilty of fraud in Fed renovations.
• U.S. June PPI rose 2.3% year-over-year, below prior value and expectations
• Fed Beige Book: Economic outlook ranges from neutral to slightly pessimistic
• Fed’s Bostic: Full inflationary impact of tariffs may not be seen until 2026
• Trump: Will introduce a single tariff rate for 150 countries
Regulatory Trends
• The U.S. House of Representatives passed a procedural vote on crypto legislation; a final vote is expected this week. The second round stalled, with some Republicans insisting on including a CBDC ban.
• The SEC delayed decisions on physical redemptions for Bitwise’s Bitcoin and Ethereum ETFs
Industry Highlights
• Proposal to allow trading of WLFI Token, linked to the Trump family crypto project, has passed
• SharpLink Gaming accumulated another 6,377 ETH today (~$19.56M); it still holds ~$257M available for Ethereum purchases
• Paypal plans to expand its PYUSD stablecoin to the Arbitrum chain
• Bank of America plans to launch a stablecoin, pending legal clarity
• Citigroup is exploring the issuance of a stablecoin for cross-border payments
• CME is considering 24/7 crypto trading, explicitly excluding meme coin products
This Week’s Outlook
• July 17: Vote on "Crypto Week" legislation; UXLINK unlock (9.17%, ~$14.2M); SOLV unlock (17.03%, ~$11.3M)
• July 18: TRUMP token unlock (45%, ~$878M); MELINIA token unlock (4.07%, ~$5.2M)
❤4
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