Headlines
The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 89.6%
CME Fed Watch data shows that the probability of the Fed keeping interest rates unchanged in August is 93.3%, and the probability of a 25 basis point rate cut is 6.7%. The probability of the Fed keeping interest rates unchanged by September is 0%, the probability of a cumulative 25 basis point rate cut is 89.6%, the probability of a cumulative 50 basis point rate cut is 10.2%, and the probability of a cumulative 75 basis point rate cut is 0.3%.
Ethereum spot ETF trading volume reaches $951 million on second day
Ethereum ETFs saw cumulative volume approaching $1 billion on their second day of trading in U.S. markets. Ethereum spot ETFs saw cumulative volume of about $951 million on Wednesday, according to Yahoo Finance data compiled by The Block Pro Research. On Tuesday, the funds saw $1.054 billion in volume on their first day on the market. Grayscale Ethereum Trust (ticker: ETHE) led again, with about $492 million in volume, or about 52% of total volume. It was followed by BlackRock’s iShares Ethereum Trust (ETHA) ($256 million) and Fidelity Ethereum Fund (FETH) ($113 million). The ETFs saw net inflows of $106.7 million on Tuesday, bringing their total assets under management to more than $10 billion, according to SosoValue data. Grayscale Ethereum Trust experienced a net outflow of $484.1 million, making it the only fund to see outflows.
Layer 3 airdrop query page is now online
The Layer 3 Foundation officially announced on X that the airdrop query page for the L3 token has been launched.
ETF Related
Hashdex submits Nasdaq Crypto Index ETF S 1 application to the US SEC
Crypto asset management company Hashdex plans to launch an ETF that directly owns spot Bitcoin and Ethereum, thereby establishing the first index-based cryptocurrency ETF in the United States. Hashdex filed a registration statement (also known as S-1) with the U.S. Securities and Exchange Commission on Wednesday. The fund, called Hashdex Nasdaq Crypto Index US ETF, will hold Bitcoin and Ethereum, but may hold more assets later, depending on the development of the regulatory environment. Bloomberg ETF analyst James Seyffart said that if the fund is approved, it may add other assets.
Fidelity FETH had a net inflow of $74.4 million yesterday, and BitWise ETHW had a net inflow of $29.5 million yesterday
Tree News cited Bloomberg data and said: Franklin EZET had a net inflow of US$3.8 million yesterday; BitWise ETHW had a net inflow of US$29.5 million yesterday; VanEck ETHV had a net inflow of US$19.7 million yesterday; Fidelity FETH had a net inflow of US$74.4 million yesterday.
Industry News
Bitstamp to distribute approximately 10,216 BTC to Mt. Gox creditors
According to on-chain analyst Yu Jin, Bitstamp announced that it will distribute BTC/BCH to creditors who have registered to receive compensation on Bitstamp starting tomorrow (7/25). Currently, Bitstamp will distribute approximately 10,216 BTC (approximately US$676.05 million). These bitcoins were transferred to Bitstamp from the Mt.Gox address yesterday and today.
Galaxy CEO: The launch of Ethereum ETF further confirms that ETH is not a security
Michael Novogratz, CEO of Galaxy Digital Holdings Ltd., a digital asset financial services company, wrote on the X platform that the Ethereum ETF has changed the cryptocurrency industry, not only opening up new channels for Ethereum, but also providing much-needed regulatory clarity, confirming that ETH is not a security.
Lista DAO launches veLISTA and veToken governance models, holders can receive a share of protocol revenue
Lista DAO announces the launch of veLISTA and veToken governance models. LISTA is the governance token of LISTA DAO, distributed to users who participate in various protocol activities. Users can actively participate in protocol governance, including initiating proposals and voting, by locking LISTA to mint veLISTA (lockup period is up to 52 weeks). At the same time, users holding veLISTA are eligible to receive a portion of the protocol revenue based on the number of positions held. Lista DAO's revenue sources include early claim fees from LISTA, lisUSD mining (coming soon) and borrowing fees, and ETH withdrawal fees; Lista DAO's costs include the lisUSD staking pool, Risk Buffer Fund, and operating expenses.
Market Forecast
10x Research: Bitcoin has risen 57% this year, and the crypto market is expected to further consolidate and grow
10x Research said in its latest market analysis report that BlackRock IBIT has received $19 billion in inflows so far this year, making it the fourth-best performing ETF of the year. The top three are: Vanguard's SP 500 ETF with inflows of $49.9 billion, BlackRock's SP 500 ETF with inflows of $34 billion, and Vanguard's Total Stock Market ETF with inflows of $19.7 billion; Invesco's QQQ Nasdaq ETF followed closely with inflows of $18.9 billion. Driven by the spot ETF boom, Bitcoin has risen 57% year-to-date. Looking ahead, there are potentially more transformative events on the horizon, and Bitcoin and the broader crypto market are expected to further consolidate and grow.
Project News
MonoSwap: Has been hacked, do not add liquidity or stake
Blast Ecosystem DEX MonoSwap posted on the X platform that it had been hacked, reminding users not to add liquidity or stake. If there are any staked positions, please withdraw them immediately to avoid capital loss.
Aave security module will release a new version Umbrella, which plans to introduce features such as pledged assets and automatic severance
Aave Safety Module is about to release a new version, Umbrella, which will introduce new features such as Aave aToken as a pledged asset, automatic severance, Per-network pledge, improved incentive mechanism, etc. Ultimately, this SM will eliminate the reliance on using AAVE as a SM-supported asset and bring more "hard" assets into SM.
Solana DEX transaction volume surpassed Ethereum for the first time in the past 30 days, becoming the most commonly used blockchain network
Blockworks Research researcher Ryan Connor wrote on the X platform that Solana has surpassed Ethereum for the first time in decentralized exchange (DEX) trading volume in the past 30 days. By this standard, Solana has become the most commonly used chain.
