24H Hot Coins & Headlines | Trump Says No Second War with Iran, Not Planning a Protracted Conflict; Bank of Korea Governor Says Interest Rates Need to Be Raised at Appropriate Time (July 9)
- Core Viewpoint: The cryptocurrency market showed divergence 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 tensions in the Middle East, South Korea's interest rate hike expectations) and regulatory developments (EU's MiCA expansion, US ban) intertwined to influence market sentiment.
- Key Factors:
- CEX major coins mostly decline: Among the top 10 coins by trading volume (BTC, ETH, etc.), only UNI rose by 3.64%, while the rest fell between 0.7% and 4.15%, with ADA leading the decline.
- Some coins buck the trend: APE, EIGEN, and other Meme or new-concept coins topped the gainers list on OKX, with APE rising 12.61%; on-chain Meme coins like BANANACAT were active.
- Macro sentiment impact: Trump's remarks eased US-Iran tensions; Brent crude oil rose 5.54% back to $80; the Bank of Korea signaled a rate hike.
- Regulatory progress continues: The EU considers expanding MiCA regulation to tokenization and non-EU stablecoins; a US court allowed Tennessee's cryptocurrency ATM ban to take effect.
- Institutional moves are positive: Barclays gave Strategy an initial "Overweight" rating with a target price of $130; crypto venture capital firm Paradigm raised $1.2 billion to bet on the convergence of AI and crypto.
1. Popular Tokens on CEXs
Top 10 CEX Trading Volume & 24h 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%
24h 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%
24h Crypto Stock 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 On-Chain Meme Tokens (Data Source: GMGN):
- bananacat
- BOOP
- Charity
- Cedric
- JinGou
Headlines
Trump: No Second War with Iran, Not Seeking a Long Conflict
US President Donald Trump stated that he does not believe there will be another war with Iran. If anything happens, it will be over very quickly. We are not seeking a prolonged war. If Iran attacks, we will retaliate. Any military action, once initiated, will unfold rapidly.
Iran Formally Suspends US-Iran Negotiations
According to the latest report from TASS, a senior Iranian source stated that Iran has officially suspended negotiations with the US on a final settlement due to threats from the American side.
Bank of Korea Governor: Need to Raise Interest Rates at an Appropriate Time
Bank of Korea Governor Rhee Chang-yong stated the need to raise interest rates at an appropriate time.
Chip company ChangXin Memory Technologies (CXMT) has received approval for registration from the China Securities Regulatory Commission and has officially initiated its IPO issuance process on the STAR Market. The plan is to raise RMB 29.5 billion. Based on the fundraising amount and issuance quantity, the estimated issuance price is around RMB 4.41 per share, with the total estimated market capitalization post-listing approaching RMB 295 billion.
The company expects to achieve revenue of RMB 110-120 billion in the first half of 2026, with a net profit of RMB 66-75 billion, marking a turnaround to profitability.
According to the issuance schedule, the initial strategic placement ratio for this issuance is 50%, with the offline placement following a "3+7" rule, where 70% of offline allocated shares are locked up for 6 months. Estimates show that approximately 78% of the issued shares will be in a lock-up state on the first day of listing, with the estimated free float market capitalization on the first day being around RMB 6.5 billion.
Additionally, online investors need to open trading permission for the STAR Market and meet the Shanghai stock market value requirements. Some major shareholders have committed to a 36-month lock-up period. The lead underwriter, CICC, has a 15% over-allotment option, allowing them 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, has announced plans to become a digital custodian and offer cryptocurrency-related services to its own clients and other legal entities. Dmitry Vitman, Chief Operating Officer of Alfa-Bank, stated that the bank aims to create investment instruments based on open blockchains to attract foreign investors and develop proprietary products and tools competitive in the international market. He anticipates that retail brokerage services involving Russian and foreign infrastructure may emerge in Russia between late 2026 and early 2027 after the government's crypto regulation bill takes effect. However, he expects large-scale liquidity to appear no earlier than late 2027. A digital custodian is a regulated entity 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 Coverage on Strategy (MSTR) with Buy Rating, PT $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 rather as a "fintech".
Brent Crude Oil Tops $80/Barrel for First Time Since June 22
According to Gate data, Brent crude oil has topped $80 per barrel for the first time since June 22, up 5.54% on the day.
BofA Reiterates "Buy" Rating on Micron, PT $1,550: Semiconductor Pullback is a Healthy Correction
In its latest semiconductor industry report, BofA Securities pointed out that the recent pullback in semiconductor stocks is a normal market correction, not a sign of weakening AI demand. Historical experience shows that semiconductor stocks often undergo consolidation in the summer. After the market completes profit-taking and valuation adjustments, a new wave of rebound usually arrives in the fall.
The report estimates that global capital expenditure on cloud computing and AI infrastructure will approach $1.5 trillion by 2027, representing an increase of about 40% to 50% from current levels. Regarding memory chips, the firm believes that as demand for HBM, DDR5, and enterprise storage continues to expand, coupled with AI servers driving demand for DRAM and NAND Flash, the memory industry will remain a significant beneficiary of the AI investment wave. Valuation recovery potential is still evident. BofA reiterates its "Buy" rating on Micron and maintains the price target of $1,550, believing the company remains the most attractive investment target in the current memory industry.
Project News
Zapper to Shut Down Completely 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 shut down completely. All functionalities, including the website, mobile app, and API services, will officially go offline on August 3rd. Founded in 2019, Zapper was a mainstream portfolio tracking tool in the DeFi space, offering features such as liquidity pool monitoring, yield farm tracking, DEX aggregation, and NFT support. At its peak, the project had 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 including Mark Cuban. Seb Audet stated that after evaluating various options, the company believes an orderly shutdown is the best choice at this time.
Ondo Perps Surpasses $2 Billion in Trading Volume Within 48 Hours of Public Launch
Ondo Perps surpassed $2 billion in trading volume within 48 hours of its public launch, simultaneously adding Bitcoin (BTC) and Ethereum (ETH) markets.
Sharplink Earns 449 ETH in Staking Rewards in One Week, Cumulative Rewards Nearing 23,000 ETH
Sharplink, an Ethereum treasury company, disclosed that it earned 449 ETH in staking rewards this week, bringing its total cumulative staking rewards to 22,991 ETH.
Investment & Funding
Crypto VC Paradigm Raises $1.2 Billion, Bets on AI and Crypto Convergence
Paradigm, a venture capital firm focused on the crypto space, has raised approximately $1.2 billion, planning to increase its investment layout 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 this new fund and expand its investment footprint in emerging technology fields.
Trump Family-Backed Crypto Firm AI Financial Seeks Up to $15 Million in Sale of Core Business
AI Financial (formerly Alt5 Sigma, ticker: AIFC), a cryptocurrency company backed by the Trump family, is in talks with blockchain technology firm Perpetuals.com to sell its core business for a price 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 resulted in losses for almost everyone except the Trump family. The terms of the transaction are not yet finalized, negotiations are ongoing, and there is a possibility of changes or the deal falling through.
Regulatory Developments
EU Proposes Expanding MiCA Scope to Cover Tokenization and Non-EU Stablecoin Issuers
The European Union is considering amending the Markets in Crypto-Assets (MiCA) regulation. The European Commission is soliciting feedback from relevant stakeholders until September 30th. According to multiple anonymous sources familiar with the matter, the European Commission is assessing 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 receiving a transition period to complete compliance adjustments, which lasts until July 1st of this year.
US Federal Court Denies 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 can still be enforced while the constitutional lawsuit filed by CoinFlip and Private IT Corporation continues. The law makes it a Class A misdemeanor to knowingly install, allow placement, place, or operate a virtual currency self-service terminal in Tennessee. Tennessee Attorney General Jonathan Skrmetti stated that crypto ATMs are tools used by scammers to target vulnerable Tennessee 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 small operator that joined the lawsuit after the Tennessee ban threatened its local business.
Kazakhstan Plans to Allow Businesses and Government to Use Stablecoins for Cross-Border Payments
Kazakhstan's President Kassym-Jomart Tokayev has signed a decree on "Measures to Stimulate and Develop the Digital Asset 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. It also 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.
Additionally, the decree restricts the use of associated natural gas for crypto mining, stipulating that it can only be used for digital asset mining if the resource "is not required to meet national demand." The decree was jointly drafted by Kazakhstan's Ministry of Digital Development, Innovations and Aerospace Industry, the central bank, and the Astana International Financial Centre.
Crypto Journalist: Senator Wyden Asks Senate Leaders to Keep BRCA Provision in the Clarity Act
A Fox Business crypto journalist reported that Senator Ron Wyden has asked Senate leaders to retain the Blockchain Regulatory Certainty Act (BRCA) provision in any version of the Clarity Act brought to the full Senate for consideration. This request comes amid uncertainty over whether key law enforcement groups will accept the BRCA language, or if it needs modifications to gain 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 solely for publishing software, while preserving the ability of the DOJ and FinCEN to pursue bad actors. Wyden is the Democratic co-sponsor of the standalone BRCA bill in the Senate, with SenLummis being the other co-sponsor.
Voices
Yi He, co-founder of Binance, stated online that people should not treat any of her online interactions as market signals. She has no bias against Meme coins but believes that the Meme coins on the BNB Chain deserve better aesthetics.
