● ARB, STRK, OP, etc. will have large amounts unlocked this week
According to TechFlow, according to Token Unlocks data, multiple projects including ARB, STRK, OP, etc. will have a one-time large-scale token unlocking this week.
- Optimism will unlock 10 million OP on July 15, worth approximately $17.1 million, accounting for 0.89% of the circulating supply.
- Starknet will unlock 64 million STRK on July 15, worth approximately $35.57 million, accounting for 4.92% of the circulating supply.
- Arbitrum will unlock 92.65 million ARB on July 16, worth approximately $64.78 million, accounting for 2.87% of the circulating supply.
- Axie Infinity will unlock 2.45 million AXS on July 16, worth approximately $13.48 million, accounting for 1.66% of the circulating supply.
- ApeCoin will unlock 15.6 million APE on July 17, worth approximately $11.39 million, accounting for 2.31% of the circulating supply.
- Manta Network will unlock 6.67 million MANTA on July 18, worth approximately $5.57 million, accounting for 1.97% of the circulating supply.
- Pixels will unlock 54.38 million PIXEL on July 19, worth approximately $10.12 million, accounting for 7.05% of the circulating supply.
● Viewpoint: Bitcoin faces risks of oversupply and lack of market fundamentals
According to ChainCatcher, 10x Research stated in the report that concerns persist due to oversupply and lack of solid market fundamentals, which poses potential risks to medium-term traders.
Last week, Bitcoin appeared to have rebounded from oversold levels ahead of the release of the Consumer Price Index (CPI), which was expected to fall. However, as this expectation was widely known and Bitcoin had already risen, the price could not be sustained.
Although the price of Bitcoin experienced a correction of nearly 20% at its lowest point during the sale of $3 billion worth of Bitcoin in Saxony, the U.S., it has withstood this test. However, a larger sell-off is expected in the coming weeks and months, which could further affect the market.
According to Wu Shuo, this week's macro indicators and analysis: Last week, the US June CPI was lower than expected, Powell said the central bank is paying more attention to when to cut interest rates, and the market is optimistic about a rate cut in September. This week, the focus will be on the ECB's interest rate decision, Powell and other senior Fed officials' collective speeches, and the Fed's Beige Book on economic conditions.
● Analysts expect dovish Fed comments to weaken dollar
According to Jinshi Data, analysts said that the dollar buying caused by Trump's assassination will fade soon. Federal Reserve Chairman Powell is expected to make dovish remarks this week, weakening the dollar. Investors will focus on the size of the first rate cut, and some expect a 50 basis point cut in September. This will encourage some traders to buy short-term U.S. Treasuries. In addition, no matter who wins the presidential election in November, the U.S. sovereign credit rating is unlikely to improve, and traders are cautious about boosting the dollar.
● South Korean government considers postponing taxation of cryptocurrency investment income until 2028
According to a report by Jinshi Data on July 15, South Korea's Economic Daily quoted government sources as saying that the South Korean government and the ruling party are considering including the postponement of taxation on income from cryptocurrency investments in next year's tax revision proposal. Previously, some lawmakers proposed to postpone the taxation case for 3 years. If the bill is passed, the taxation will be postponed from January 1, 2025 to January 1, 2028. The Ministry of Finance said in a statement that no decision has been made on additional tax deferrals.
● BNB Chain completes the second Sunset fork
According to Foresight News, according to official information from BNB Chain, it has completed the second Sunset fork. The second Sunset fork will cause the BNB beacon chain staking function to be migrated to the BNB Smart Chain. All assets need to be migrated from the beacon chain to the BNB Smart Chain. BNB Chain reminds users: 1. Staked BNB: If BNB is staked, it needs to be migrated. If it is not migrated before July 14, it will be automatically unstaked and returned to the user's account within 2 weeks. 2. BNB and other BEP2 assets: These assets also need to be migrated from the beacon chain to the BNB Smart Chain. If the assets are not migrated, they will not be able to be transferred after August 15. If the asset migration has not been completed yet, it needs to be completed before July 14.
