Crypto Assets Market Recent Trends

Industry Trends

A Hong Kong listed company announced the establishment of a dedicated Crypto Assets division to accelerate its layout in Web3 and physical asset tokenization business. As a result, the company's stock price rose by over 25%.

Another Hong Kong stock company plans to raise approximately 746 million HKD through a rights issue, to invest in stablecoin operations and other digital asset-related businesses.

Hong Kong is set to welcome its first Bitcoin ETF product this year, expected to officially launch and start trading on July 18. This provides local investors with a new compliant channel to participate in the Crypto Assets market.

A well-known technology entrepreneur holds approximately 9.1% of a Bitcoin mining company through related entities. The mining company previously disclosed that it holds over 160,000 Crypto Assets.

The U.S. House of Representatives plans to conduct a procedural vote on cryptocurrency-related legislation in the near future, paving the way for subsequent debates and the final vote.

The UK government has released a digital strategy for wholesale financial markets, supporting the application of distributed ledger technology and asset tokenization in the financial sector, and will promote testing of digital payment solutions, including stablecoins.

Market Views

A partner at an investment firm believes that after Bitcoin breaks $123,000, altcoins may experience a rally for 1-2 months. He expects Bitcoin to potentially reach $150,000, at which point the top 20 tokens by market capitalization may rise collectively.

An industry insider stated that "Ethereum Season" has arrived, and the decentralized finance and non-fungible token markets are expected to benefit and usher in a new wave of development. He also changed his social media profile picture to a CryptoPunk NFT to show his optimism for the Ethereum ecosystem.

Project Progress

A major trading platform announced the launch of a new project token airdrop event, with a total of 20 million coins, accounting for 2% of the maximum supply.

Another new project has postponed the launch time of the token generation activity due to technical reasons.

A certain payment giant has updated the terms of service for its Crypto Assets, clearly supporting the use of its stablecoin across multiple networks such as Arbitrum, Ethereum, and Solana.

An emerging platform has announced its tokenomics plan, which includes two types of tokens: a circulating utility token and a non-transferable governance token.

A certain decentralized project is suspected of transferring nearly 100,000 SOL to the buyback address, worth approximately 16 million US dollars.

Data Tracking

The Bitcoin spot ETF saw a net inflow of over $400 million yesterday, continuing a trend of net inflows for 9 consecutive days. Currently, the total scale of the ETF is about $150 billion, accounting for 6.46% of Bitcoin's market value.

The Ethereum spot ETF saw a net inflow of nearly $200 million yesterday, marking the eighth consecutive day of net capital inflows. The total scale of the ETF reached $14.2 billion, accounting for 3.87% of Ethereum's market value.

A major holder has reduced their holdings by 15,000 ETH through a market maker in the past 8 hours, worth approximately $46 million. This address has realized over $20 million in profits from ETH trading since mid-June.

Institutional Dynamics

A gaming company announced that it will continue to execute its Ethereum acquisition strategy, and currently has approximately $257 million available for subsequent purchases.

A financial services company is negotiating a SPAC deal worth over $4 billion with early supporters of Bitcoin, planning to acquire over 30,000 coins and further increase its holdings.