1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: +0.03%
ETH: +0.24%
SOL: +10.47%
XRP: +2.21%
DOGE: +1..18%
BNB: +1.42%
ADA: +4.22%
PENGU: +22.58%
ENA: +0.97%
SUI: +1.44%
24H increase list (data source: OKX):
SPK: +56.03%
ZBCN: +48.01%
UMA: +29.10%
PENGU: +22.58%
MOOENG: +18.10%
DUCK: +17.77%
LOOKS: +17.42%
UXLINK: +16.19%
RAY: +16.14%
MERL: +15.41%
2. 24H hot search currencies
PENGU: PENGU’s market value surpasses TRUMP, becoming the second largest Meme coin on the Solana chain;
SPK: Cookie Snaps campaign’s first collaboration project.
Headlines
According to Eleanor Terrett, a crypto journalist, the White Houses first encryption policy report will be officially submitted on July 22 (local time) and is expected to be released to the public before the end of the month. White House officials have confirmed the relevant schedule.
Market News: pump.fun may issue PUMP airdrops on July 24
The crypto-related account Downsin Jerome (@DeFiDownsin) posted on the X platform that Pump.fun co-founder Alon announced that the Pump airdrop will be issued at 23:00 (UTC+ 8) on July 24, 2025. Alon replied to the article with a picture, but did not make any statement about the airdrop.
The FTX liquidation team has filed an extension application with the Delaware court, seeking more time to respond to more than 90 creditor objections to its plan to freeze $470 million in cross-border repayments. The plan proposes to list 49 jurisdictions, including China, as restricted areas and suspend compensation payments to relevant creditors. FTX said the move was intended to avoid potential legal risks, especially the criminal liability that executives may face. Currently, Chinese creditors account for 82% of the claims (about $380 million). However, the plan has been strongly opposed. Weiwei Ji, a representative of Chinese creditors, said that he has organized hundreds of investors to collectively defend their rights. Another creditor, Sunil Kavuri, revealed that there are still about $1.4 billion in claims pending. The relevant hearing will be held on Tuesday this week. (Cointelegraph)
According to the news released by Blue Origin, a US commercial aerospace company, on July 21, Justin Sun, the founder of TRON, will take the Blue Origin New Shepard rocket to realize his dream of going to space. He also became the youngest Chinese commercial astronaut in history because of this space trip. Justin Sun once said that flying to space has been his dream since childhood. This flight is not only his personal dream journey, but also makes Justin Sun the first Chinese entrepreneur to bring the pioneering spirit of the blockchain industry into space.
Industry News
According to NLNico, Volcon, a US-listed electric car company, announced its first purchase of 280.14 bitcoins and has completed more than $500 million in private financing to support its bitcoin purchase plan. It is reported that the company has previously reached an agreement with a number of institutions and qualified investors to issue 50,142,851 common shares at a price of $10 per share, and it is expected to raise more than $500 million after deducting expenses. The financing was led by Empery, and the participating parties included crypto venture capital companies and traditional financial institutions such as FalconX, Pantera, Borderless, RK Capital, and Relayer Capital. Volcon has previously announced the adoption of a Bitcoin financial strategy and included it in the companys reserve asset allocation.
Nasdaq-listed Bit Origin (ticker: BTOG) announced that it has completed its first purchase of Dogecoin, totaling 40,543,745 DOGE, with an average purchase price of approximately $0.2466 and a total amount of approximately $10 million. The purchase came less than a week after it announced the establishment of an enterprise-level DOGE vault. Bit Origin said it has obtained up to $500 million in equity and debt financing to advance its Dogecoin vault strategy. The company believes that the current market environment is conducive to the evolution of Dogecoin towards decentralized finance, and pointed out that DOGE has good liquidity and recognition worldwide.
Strategy plans to issue 5 million shares of STRC to raise funds for Bitcoin acquisition
According to an official announcement, Strategy (NASDAQ: MSTR, STRK, STRF, STRD) announced plans to issue 5 million shares of variable rate Series A perpetual preferred stock (STRC stock) for the first time. The company said the proceeds will be used for general corporate purposes, especially Bitcoin acquisitions and working capital.
According to official news, Swedish listed company H100 Group announced an increase of 140.25 BTC, bringing its total holdings to 510.28.
According to the official announcement, DeFi Development Corp, a U.S. listed company, announced today that it has increased its holdings by another 141,383 SOLs, bringing its total holdings to 999,999, equivalent to approximately US$192 million.
Trump Media Technology Group (DJT.O) announced that its total Bitcoin reserve purchases have reached $2 billion. The group plans to continue to acquire Bitcoin and related assets and convert options into spot Bitcoin. In addition, its current Bitcoin assets account for about two-thirds of the companys total current assets of about $3 billion. (Jinshi)
Project News
Polymarket acquires a trading platform and plans to return to the US market
Polymarket acquires a trading platform and plans to return to the US market. (Zoomer)
According to official news, Ethena Labs announced a $360 million PIPE transaction for StablecoinX, and its foundation has launched a $260 million ENA open market repurchase plan to support the establishment of ENA reserves. In addition, StablecoinX will seek to be listed on the Nasdaq with the stock code USDE.
Investment and Financing
Bittensor ecosystem company xTAO announced that it will be listed on the Canadian TSX Venture Exchange (TSXV) on July 23, with the stock code XTAO.U. The company has previously completed US$22.8 million in financing, with investors including Digital Currency Group, Animoca Brands, Arca, Borderless Capital and FalconX. xTAO said that the company will be committed to promoting the development of the Bittensor network, focusing on building core products such as data, computing power and machine learning models, and connecting users and enterprises through validator nodes. The companys founder, Karia Samaroo, founded WonderFi and served as CEO before the platform was acquired by Robinhood for US$180 million.
Character*Voice
Robinhood CEO Vlad Tenev recently responded to the controversy caused by the companys launch of OpenAI tokenized shares, stating that it will firmly advance and expand this business.
Previously, OpenAI had publicly opposed the tokenized product, saying that it had not authorized Robinhood to use its name, and the U.S. SEC also warned that tokenized securities still need to comply with federal securities laws. In this regard, Tenev said: Becoming the first platform to tokenize these excellent companies is an important milestone. Whenever you create something meaningful, there will always be some controversy. He also revealed that he plans to expand the model to thousands of private companies and integrate it with the DeFi market.
US Treasury Secretary Benson: If inflation data is low, interest rates should be lowered
U.S. Treasury Secretary Benson said that if inflation data is low, interest rates should be lowered. (Jinshi)
QCP Capital stated in its weekly market report released on July 21 that multiple altcoin season indicators have exceeded 50, reaching the highest level since December last year. In addition, the open interest of ETH perpetual contracts jumped from US$18 billion to US$28 billion in a week, indicating that the altcoin season may have officially begun.
QCP pointed out that the leaders of this cycle are institutional investors. Benefiting from the clarification of the regulatory framework for stablecoins brought about by the implementation of the GENIUS Act, corporate finances have begun to increase their holdings of L1 public chain tokens such as ETH, SOL, XRP and ADA, similar to the role of BTC in the financial configuration of Strategy and Metaplanet. If ETH obtains SEC approval for its pledged spot ETF in the next few months, it may attract funds from BTC ETF to ETH, further releasing the potential for returns. In fact, last week, the daily net inflow of ETH spot ETF has exceeded BTC for two consecutive days, showing a surge in institutional interest in ETH, and BlackRock is also confident in its pledged ETH ETF. In addition, the ETH options market has active call spread trading, and call spread positions expiring in September and December have been established in large volumes, highlighting the markets optimism about the fourth quarter.
Min Jung, a research analyst at Presto Research, said that supported by continued institutional demand (especially demand from cryptocurrency fund management companies), Bitcoin continues to hover near its historical highs, and ETH prices have also benefited from the promotion of institutional investors. More and more listed companies are beginning to include ETH in corporate treasuries. The market is showing early signs of altcoin season, but whether this strong momentum will extend to the broader altcoin market remains uncertain. (The Block)
