Market trends:

- The performance of Bitcoin (BTC) is weak: Recently, Bitcoin’s rebound has lacked momentum, the price trend has failed to rebound significantly, and the overall market sentiment is biased toward caution.

- Altcoins generally fell: Except for a few individual currencies, most altcoins declined, and the market showed bearish characteristics.

- ETH ETF postponed: The highly anticipated Ethereum ETF approval has been postponed until after July 8. This news will have a certain impact on the short-term volatility of the crypto market.

- US stocks hit new highs: The US stock market continued to strengthen, hitting a record high, and the market began to reflect expectations that Trump might win the election, which further supported the high level of the US dollar index.

Market Focus:

1. ZRO rebound phenomenon: The newly listed ZRO token experienced a rebound. It is worth noting that both ZRO and ZK plan not to release tokens in the next year. After ZRO was listed, its price fell below the market value of 3 billion US dollars during the primary market financing, which attracted market attention.

2. Highlights in the Solana ecosystem: Dog-themed meme coins such as Bonk and Billy on the Solana chain have risen sharply, among which Billy's market value has exceeded US$100 million, showing the potential to become the next round of "hat dogs" (popular meme coins). Currently, the trading volume of centralized exchanges (CEX) has fallen back to the level at the end of last year, while the trading volume of decentralized exchanges (DEX) has remained stable, indicating that on-chain activities are still the main area for finding profit opportunities.

3. Performance of L2 project Blast: After the airdrop, the token price of Layer 2 solution Blast fell by about 30%, and the total value locked (TVL) also decreased by 25%. It is worth noting that throughout July, the industry is expected to face more than $3 billion in token unlocking, which may put some pressure on the market.

To sum up, the current cryptocurrency market is undergoing a series of complex changes. Investors need to pay close attention to market dynamics, especially the impact of regulatory policies, market sentiment and macroeconomic factors, in order to make more informed investment decisions.

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