1. Market trends
▪️ $BTC briefly fell below the 115000 mark but has recovered, currently around 115000, with a 24-hour decrease of about 0.61%.
▪️ After a surge, $ETH is showing a correction trend, currently around 3660, with a 24-hour drop of 0.82%.
▪️ $SOL continues to be under pressure, currently around 169.40, down 1.65% in the last 24 hours.
Altcoins are performing poorly, with nearly all markets in decline; $SUI has dropped over 2.00% in the last 24 hours, while $DOGE has fallen over 1.52%.
1. On-chain news
▪️ The total on-chain TVL is $138.728 billion, down 1.86% in the last 24 hours.
▪️ On-chain difficulty has generally increased, with a few exceptions performing well; $TROLL has gained over 76% in the last 24 hours, reaching a new market cap high of 72M; #USELESS has a market cap of 239.7M, down approximately 27.5%; $BNKR has a significant increase, with a current market cap of 102.72M.
▪️ DEXs have a 24-hour trading volume of 20.081 billion, with ETF outflows reaching $10.3 million, indicating a decline in institutional interest.
1. Hot news
▪️ Pump.fun has recently registered the subdomain fee.pump.fun, which may indicate the upcoming launch of a fee dashboard or a volume-based incentive program.
▪️ Strategic ETH Reserve data shows that the ETH holdings of The Ether Machine, an ETH treasury reserve company, have reached 334,800 coins (approximately $1.24 billion), making it the third entity with holdings surpassing those of the Ethereum Foundation.
▪️ On August 1, the Hong Kong (Stablecoin Regulation) officially came into effect, with the Hong Kong Monetary Authority issuing regulatory guidelines for licensed stablecoin issuers, clarifying the thresholds for issuer license applications. According to the Securities Times, Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), and other issuing banks are expected to be among the first to apply for and obtain stablecoin issuer licenses. Additionally, Chinese banks, sandbox testing companies, large state-owned enterprises, and major internet firms are actively preparing to apply. Initially, securities firms will mainly provide stablecoin trading, custody, and financing services.
▪️ The Hong Kong Monetary Authority has released implementation details for stablecoin regulations, officially starting a 6-month transition period.
▪️ Market news: U.S. President Trump signed an executive order establishing 'reciprocal tariffs' on multiple countries and regions, with specific rates ranging from 10% to 41%.
▪️ SonicLabs officially announced that it has updated the qualification for the first season of empty investment, reducing the minimum claim standard from 200 S to 5 S, with each address eligible for 70 S per Shard.
▪️ Coinbase plans to launch new products for U.S. users in the coming months, including tokenized stocks, prediction markets, and early token offerings, building an 'all-in-one exchange.' The platform aims to enable on-chain trading of all assets. Coinbase will compete in the prediction market space with licensed Kalshi and recently acquired QCEX's Polymarket, challenging platforms like Robinhood that offer tokenized stock services.
▪️ U.S. SEC Chairman Paul Atkins recently delivered a speech announcing the launch of a committee-level initiative called 'Project Crypto' aimed at modernizing securities regulations to drive on-chain transformation in the U.S. financial markets, responding to President Trump's vision of making the U.S. a 'global crypto hub.'
$BTC $ETH $SOL $TROLL $BNKR
