24H Hot Coins & Headlines｜Trump Says No Second War with Iran, No Plans for a Protracted Conflict; Bank of Korea Governor Says Rates Need to Be Raised at an Appropriate Time (July 9)
- Core View: The cryptocurrency market showed a divergent trend on the day, with major coins generally falling, while some small and mid-cap coins and on-chain Meme coins performed actively. Meanwhile, macro news (easing Middle East tensions, South Korea's rate hike expectations) and regulatory developments (EU MiCA expansion, US bans) jointly influenced market sentiment.
- Key Elements:
- Major CEX tokens broadly declined: Among the Top 10 trading volume tokens like BTC and ETH, only UNI rose by 3.64%, with the rest falling between 0.7% and 4.15%, led by ADA.
- Some tokens bucked the trend: APE, EIGEN, and other Meme or new-concept coins topped the OKX gainers list, with APE up 12.61%; on-chain Meme coins like BANANACAT were also active.
- Macro sentiment impact: Trump's comments eased US-Iran tensions, with Brent crude rising 5.54% back to $80; the Bank of Korea signaled a rate hike.
- Regulatory progress: The EU is considering expanding MiCA regulation to tokenization and non-EU stablecoins; a US court allowed Tennessee's crypto ATM ban to take effect.
- Institutional moves: Barclays gave Strategy (formerly MicroStrategy) its first "Buy" rating with a $130 price target; crypto VC Paradigm raised $1.2 billion to bet on the convergence of AI and crypto.
1. Hot CEX Tokens
CEX Top 10 by Trading Volume & 24-Hour Change:
- BTC: -1.93%
- ETH: -1.44%
- SOL: -2.21%
- XRP: -1.74%
- BNB: -1.04%
- DOGE: -1.49%
- TRX: -0.70%
- ZEC: -3.63%
- ADA: -4.15%
- UNI: +3.64%
24-Hour Gainers (Data Source: OKX):
- APE: +12.61%
- EIGEN: +11.07%
- KAITO: +9.47%
- MANA: +9.17%
- DYDX: +8.52%
- PROVE: +7.41%
- ACT: +7.20%
- ORBS: +6.96%
- MMT: +6.80%
- 2Z: +6.12%
24-Hour Crypto-Equity Gainers (Data Source: msx.com):
- PENG: +26.26%
- CAN: +25.66%
- BWET: +19.43%
- SNXX: +15.99%
- WULF: +15.07%
- BABA: +12.18%
- SHAZ: +11.97%
- NBIS: +11.05%
- CORZ: +10.07%
- ANET: +8.99%
2. Top 5 Hot On-Chain Memes (Data Source: GMGN):
- bananacat
- BOOP
- Charity
- Cedric
- Golden Doge
Headlines
Trump: No Second War with Iran, No Intention of Protracted Conflict
US President Donald Trump stated his belief that a second war with Iran will not occur. He said any conflict would end quickly, that the US is not seeking a long-term war, and that if attacked, the US would retaliate. Any military action, if it happens, will be swift.
Iran Officially Suspends Negotiations with the US
According to the latest from TASS, a senior Iranian source stated that due to threats from the US side, Iran has officially suspended negotiations with the US regarding a final solution.
Bank of Korea Governor: Need to Raise Interest Rates at Appropriate Time
Bank of Korea Governor Rhee Chang-yong stated that interest rates need to be raised at an appropriate time.
Memory chip company Changxin Memory Technology (CXMT) has received approval from the China Securities Regulatory Commission (CSRC) and officially initiated its IPO process on the STAR Market. The company plans to raise 29.5 billion yuan. Based on the fundraising amount and share issuance, the estimated issue price is around 4.41 yuan per share, with a post-listing total market cap close to 295 billion yuan.
The company projects revenue of 110 billion to 120 billion yuan and net profit of 66 billion to 75 billion yuan for the first half of 2026, returning to profitability from a loss-making position.
According to the issuance schedule, the initial strategic placement ratio reaches 50%, and the offline placement follows the "3+7" rule, with 70% of shares allocated offline locked up for 6 months. Calculations show that approximately 78% of the issued shares will be under lock-up on the first trading day, with the tradable new shares representing an estimated free-float market cap of around 6.5 billion yuan on day one.
Furthermore, online investors need to open STAR Market trading permissions and meet the Shanghai Stock Exchange market value requirements. Some major shareholders have committed to a 36-month lock-up period. The lead underwriter, CICC, holds a 15% over-allotment option to stabilize prices within 30 calendar days after listing.
Industry News
Russia's Largest Private Bank, Alfa-Bank, Plans to Offer Crypto-Related Services
Russia's largest private bank, Alfa-Bank, announced plans to become a digital custodian and offer cryptocurrency-related services to its own clients and other legal entities. Alfa-Bank's Chief Operating Officer, Dmitry Vitman, stated that the bank aims to create investment instruments based on open blockchains to attract foreign investors and develop its own products and tools competitive in international markets. He predicted that after the government's crypto regulatory bill takes effect, retail brokerage services involving Russian and foreign infrastructure might emerge in Russia between late 2026 and early 2027, but expects significant liquidity no earlier than late 2027. Digital custodians are regulated entities responsible under Russian law for monitoring all client crypto transactions and freezing transfers to addresses not approved by the state.
$2.3 Trillion Asset Bank Barclays Initiates Buy Rating on Strategy MSTR, Price Target $130
BitcoinTreasuries.NET reported that Barclays, a bank with $2.3 trillion in assets, has initiated coverage on Strategy (MSTR) with a Buy rating and a price target of $130, classifying it alongside Visa and Mastercard. Wall Street no longer refers to MSTR as a "crypto proxy" but as "FinTech."
Brent Crude Oil Hits $80/Barrel, First Time Since June 22
According to Gate data, Brent crude oil has reached $80 per barrel, the first time since June 22nd, up 5.54% intraday.
BofA Securities released a report on the semiconductor industry, stating that the recent pullback in semiconductor stocks is a normal market correction, not a signal of weakening AI demand. Historical experience shows that semiconductor stocks often consolidate during the summer. After profit-taking and valuation corrections are completed, a new rebound typically emerges in the autumn.
The report estimates that by 2027, global capital expenditure on cloud computing and AI infrastructure will approach $1.5 trillion, an increase of approximately 40% to 50% from current levels. Regarding memory chips, BofA believes that with the continued expansion of demand for HBM, DDR5, and enterprise storage, coupled with AI servers driving demand for DRAM and NAND Flash, the memory industry will remain a significant beneficiary of the AI investment wave, with clear room for valuation recovery. BofA reiterates its 'Buy' rating on Micron and maintains a price target of $1,550, believing the company remains the most attractive investment target in the memory industry at present.
Project News
Zapper to Completely Shut Down on August 3rd; Website, Mobile App, and API Services to Go Offline
Seb Audet, CEO of DeFi portfolio tracker Zapper, announced that after nearly 7 years of operation, the company has decided to fully shut down. All functionalities, including the website, mobile app, and API services, will officially go offline on August 3rd. Founded in 2019, Zapper was a leading portfolio tracking tool in the DeFi space, with features including liquidity pool monitoring, yield farm tracking, DEX aggregation, and NFT support. At its peak, the project boasted 2 million monthly active users and processed over $13 billion in transaction volume. Zapper previously raised a $15 million Series A round led by Framework Ventures, with participation from investors like Mark Cuban. Seb Audet stated that after evaluating various options, the company concluded that an orderly shutdown is the best path forward.
Ondo Perps' Trading Volume Exceeds $2 Billion in First 48 Hours of Public Launch
Ondo Perps' trading volume surpassed $2 billion within 48 hours of its public launch, simultaneously adding Bitcoin (BTC) and Ethereum (ETH) trading markets.
Sharplink Earns 449 ETH in Weekly Staking Rewards, Cumulative Rewards Approach 23,000 ETH
Sharplink, the Ethereum treasury company, disclosed that it earned 449 ETH in staking rewards this week, bringing its cumulative staking earnings to 22,991 ETH.
Investments & Financing
Crypto VC Firm Paradigm Raises $1.2 Billion, Betting on AI and Crypto Convergence
Paradigm, a venture capital firm specializing in crypto, has raised approximately $1.2 billion, planning to increase its investment allocation in projects related to Artificial Intelligence (AI).
According to sources familiar with the matter, this fundraising will focus on AI infrastructure, AI Agents, and the convergence of AI and blockchain technology. Paradigm aims to capture the next wave of technological innovation with the new fund and expand its investment footprint in emerging tech sectors.
Trump Family-Backed Crypto Firm AI Financial Seeks Up to $15 Million in Core Business Sale
AI Financial (formerly Alt5 Sigma, ticker: AIFC), a cryptocurrency company backed by the Trump family, is in talks to sell its core business to blockchain technology firm Perpetuals.com, with discussions around a price tag of up to $15 million.
This news marks a significant strategic reversal for the company—just a year ago, AI Financial acquired a small payment company for $750 million, but that deal has since resulted in losses for nearly everyone except the Trump family. The transaction terms are not yet finalized, negotiations are ongoing, and they could change or collapse.
Regulatory Developments
EU Plans to Expand MiCA Scope to Cover Tokenization and Non-EU Stablecoin Issuers
The European Union is considering revising the Markets in Crypto-Assets (MiCA) regulation. The European Commission is soliciting feedback from stakeholders, with a deadline of September 30th. According to several anonymous sources familiar with the matter, the Commission is evaluating whether to expand MiCA's scope to cover emerging areas like tokenization and non-EU stablecoin issuers. MiCA officially took effect in December 2024, with most service providers given a transition period to complete compliance adjustments, lasting until July 1st of this year.
US Federal Court Rejects Emergency Challenge, Tennessee Crypto ATM Ban Takes Effect
A US federal court has refused to halt Tennessee's cryptocurrency ATM ban before its July 1st effective date. Public Chapter 766 remains enforceable while the constitutional challenge by CoinFlip and Private IT Corporation proceeds. The law makes it a Class A misdemeanor to intentionally install, permit, place, or operate a virtual currency kiosk in Tennessee. Tennessee Attorney General Jonathan Skrmetti stated that crypto ATMs are tools used by fraudsters to target vulnerable residents and are rarely used for legitimate purposes. CoinFlip operates over 5,500 Bitcoin ATMs across 48 US states and multiple countries. Private IT Corporation is a smaller operator that joined the lawsuit after the Tennessee ban threatened its local business.
Kazakhstan Proposes Allowing Enterprises and Government to Use Stablecoins for Cross-Border Payments
Kazakh President Kassym-Jomart Tokayev has signed a decree titled "On Measures to Stimulate and Develop the Digital Assets Industry," proposing to allow enterprises and government agencies to use stablecoins for cross-border payments.
The decree states that researching crypto asset payment mechanisms will open new channels for Kazakhstan's import and export business. Simultaneously, it plans to exempt individuals from personal income tax on crypto transactions conducted through state-regulated infrastructure, encouraging users to transfer digital assets previously held on unregulated overseas platforms to domestic service providers.
Furthermore, the decree restricts the use of associated natural gas for crypto mining, stipulating that it can only be used for digital asset mining when this resource is "not required to meet national needs." The decree was jointly drafted by Kazakhstan's Ministry of Digital Development, Innovation and Aerospace Industry, the National Bank, and the Astana International Financial Centre (AIFC).
Crypto Journalist: Senator Demands Senate Leadership Retain BRCA Provision in Clarity Act
A Fox Business crypto reporter stated that Senator Ron Wyden is demanding that Senate leadership retain the Blockchain Regulatory Certainty Act (BRCA), a provision already passed by the Senate Banking Committee, in any version of the Clarity Act submitted for full Senate consideration. This request comes amid uncertainty about whether key law enforcement groups accept the BRCA language, or if changes are needed to secure their support and the votes of other Democratic senators like Cortez Masto and Mark Warner. In a letter to Thune and Schumer, Wyden stated that the provision would codify existing federal policy, clarifying that non-custodial software developers should not be considered money transmitters merely for publishing software, while preserving DOJ and FinCEN's ability to pursue bad actors. Wyden is the Democratic co-sponsor of the standalone BRCA bill in the Senate, alongside co-sponsor SenLummis.
Notable Voices
Yi He, co-founder of Binance, stated online that her interactions should not be interpreted as market signals. She holds no prejudice against Meme coins but believes that Meme coins on the BNB Chain deserve better aesthetics.
