Headlines
BTC breaks through $64,500
The market shows that BTC has broken through $64,500 and is now trading at $64,510.99, with a daily increase of 6.06%. The market is volatile, so please do a good job of risk control.
▌Musk: Congratulations to JD Vance for becoming the Republican vice presidential candidate. This is an excellent decision
Musk posted on the X platform: Congratulations to JD Vance for becoming the Republican vice presidential candidate. This is an excellent decision.
According to the Wall Street Journal, if Trump is elected, JD Vance, who will turn 40 in August, will become one of the youngest vice presidents in U.S. history and has only two years of elected experience, but he is the most representative figure of "America First" populism.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $64,766.99, with a daily increase of +6.4%;
ETH's latest transaction price is $3486.57, with a daily change of +7.3%;
BNB's latest transaction price is $586.14, with a daily increase of +7.4%;
SOL's latest trading price is $159.74, with a daily change of +8.2%;
DOGE’s latest trading price is $0.1259, with a daily change of +8.0%;
XPR recently traded at $0.5383, with a daily change of +3.1%.
policy
Coinbase, Ripple, and a16z to attend Republican and Democratic National Conventions
Coinbase, Ripple, and a16z plan to send delegates to the Republican National Convention (RNC), and later to the Democratic National Convention (DNC). Politico said the companies will first "show their attitude to Republican power brokers" and support election results that produce policies that are favorable to the industry, highlighting the Republican Party's broad support for the crypto industry. Attending the RNC and DNC represents each company's continued commitment to bipartisan crypto policies. All three companies are members of the Fairshake Super PAC, which raised $177.9 million and spent $70.9 million during the 2024 election cycle. The super PAC aims to benefit American candidates who support cryptocurrencies regardless of their party membership.
▌US media: Authorities found the suspect 30 minutes before Trump's shooting
According to Pennsylvania WPXI TV, the man who tried to kill Trump was found on the roof nearly 30 minutes before the shooting. According to reports, one of the local Beaver County SWAT team (ESU team) noticed a suspicious man on the roof near the rally at 5:45 pm, so he called the police and took a photo of the man. It is reported that the person in the photo is Thomas Crooks, but it is not clear whether Crooks was carrying a gun at the time. In addition, sources said that a law enforcement officer checked Crooks's site at the time but did not see him appear at the location where the first photo was taken. 26 minutes after law enforcement took the second photo of Crooks and received intelligence, gunshots were heard on the roof of the building. A few seconds later, a Secret Service sniper returned fire and killed Crooks.
▌J.D. Vance, the Republican vice presidential candidate in the United States, has drafted a crypto-friendly bill that may benefit the crypto industry
U.S. Republican vice presidential candidate JD Vance is a potential crypto-friendly figure, and given his previous efforts to enact clearer legislation, the election of the "Hillbilly Elegy" author and venture capitalist would be good for the crypto industry.
According to Politico, JD Vance recently drafted a bill that would reform the way the United States regulates digital assets. Sources said the bill would be more favorable to crypto than a bill passed by the House of Representatives in June.
It is reported that, like the House bill, JD Vance’s plan will overhaul the way the U.S. SEC and CFTC regulate the cryptocurrency market, which is a major priority for cryptocurrency companies and investors who are dissatisfied with Washington’s current policies.
J.D. Vance did not disclose the purchase or sale of any cryptocurrency in his recent Senate financial disclosure.
▌Biden: JD Vance is a replica of Trump on some issues
U.S. President Biden said that Republican vice presidential candidate JD Vance is a replica of Trump on some issues.
▌Crypto-friendly independent US presidential candidate Kennedy: Will not withdraw from the campaign
Crypto-friendly independent US presidential candidate Robert Kennedy confirms meeting with Trump and says he will not drop out of the race.
Earlier news, US presidential candidate Kennedy supported cryptocurrency and bought 21 bitcoins.
Blockchain Applications
Palau and Soramitsu Collaborate on DLT Government Bond Issuance Platform
Palau has contracted DLT firm Soramitsu Labs to develop a government bond issuance platform with the goal of onboarding Palau’s less than 20,000 people as investors. Soramitsu is known for developing Cambodia’s Bakong national payment system and has CBDC projects underway in Laos, the Philippines, and Vietnam.
Palau plans to test the system later this year, with the goal of issuing its first bond next year. Other countries such as the Philippines and Thailand have also used blockchain to issue government bonds to individual investors.
Cryptocurrency
▌Plaintiff files new lawsuit against Tether, alleging manipulation of crypto markets
Plaintiffs in a class-action lawsuit against Tether and Bitfinex have filed a new streamlined complaint alleging the crypto companies manipulated cryptocurrency prices and violated antitrust laws by pushing into the market a stablecoin that is not fully backed by U.S. dollars, USDT. This is the third complaint in the case, which is being overseen by U.S. District Judge Katherine Polk Failla.
The complaint alleges that Tether and Bitfinex drove up cryptocurrency prices by creating the appearance of increased demand, prompting the use of credit and loan funds to make trades. The lawsuit contains transcripts of chats and depositions from the company operators, alleging they admitted to the manipulation.
A Tether spokesperson said the allegations are "completely without merit" and that they are confident they will prevail in the lawsuit. Last year, lawyers for Tether and Bitfinex filed a memorandum opposing the plaintiffs' request to amend the complaint, but Judge Failla ultimately approved the plaintiffs' request.
The lead plaintiffs in the case are U.S. crypto traders Matthew Script, Benjamin Leibowitz, Jason Leibowitz and Pinchas Goldshtein. Lawyers for the plaintiffs did not respond to requests for comment.
▌Kaiko: Spot Ethereum ETF may outperform Bitcoin after launch
A new report from Kaiko suggests that Ethereum could outperform Bitcoin following the launch of the much-anticipated Ethereum exchange-traded fund (ETF) in the United States. The report notes that the current Ethereum-to-Bitcoin price ratio is 0.05, higher than the 0.045 before the Securities and Exchange Commission (SEC) approved the spot Ethereum ETF, indicating that Ethereum’s price is rising relative to Bitcoin.
The report also highlighted that Ethereum’s 1% market depth and exchange reserves are at multi-year lows, which could foreshadow a supply shock due to increased institutional demand, driving ETH prices further up. According to forecasts, a spot Ethereum ETF could be launched by July 23, with institutional investors expected to attract $10 billion in inflows at a rate of about $1 billion per month.
Overall, Kaiko's analysis suggests that with the launch of the spot Ethereum ETF, Ethereum may surpass Bitcoin in market performance.
▌Former US Congressman: Bitcoin is "about freedom" and can be traded the way you want
Former U.S. Congresswoman Tulsi Gabbard said Bitcoin is “about freedom” and being able to trade the way you want.
▌J.D. Vance, the Republican vice presidential candidate, holds up to $250,000 worth of Bitcoin as of 2022
Former U.S. President Donald Trump today named JD Vance as the Republican vice presidential candidate.
The Ohio senator disclosed in his mandatory annual report for the 2022 calendar year, filed in October 2023, that as of 2022, he owned between $100,001 and $250,000 worth of Bitcoin, which he held through Coinbase. In addition, Vance also opened accounts at brokerage firms Robinhood and Charles Schwab.
The vice presidential candidate has not yet filed a financial disclosure for 2023. His current estimated net worth is at least $5 million and at most $10.5 million.
▌Bloomberg ETF Analyst: Spot Ethereum ETF may be launched on July 23
Eric Balchunas, Bloomberg ETF analyst, wrote on X platform: "It is reported that the SEC finally responded to the issuer today, asking them to return the final S-1 document (including fees) on Wednesday and then apply for effectiveness after the close of Monday so that it can be issued on Tuesday, July 23."
▌Meme coins generally rose, PEPE and Floki rose by more than 15% in 24 hours
The market shows that the Meme coin sector has generally risen, including:
PEPE’s 24-hour increase is 17.93%, currently trading at $0.00001037;
FLOKI’s 24-hour increase is 19.89%, currently trading at $0.00017447;
WIF’s 24-hour increase is 13.43%, currently trading at $1.9111;
BOME’s 24-hour increase is 11.17%, currently trading at $0.008625.
The market is volatile, please do a good job of risk control.
Important economic developments
▌The three major U.S. stock indexes closed higher
The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.53%, the Nasdaq up 0.4%, and the S&P 500 up 0.28%. Apple rose more than 1%, setting a new record closing high, with a total market value of $3.59 trillion. Trump-related stocks rose more than 28%.
▌The Fed's bets on rate cuts continue to increase this year
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in August is 94.3%, and the probability of a 25 basis point rate cut is 5.7%. The probability of the Fed keeping interest rates unchanged in September is 0.0%, the probability of a cumulative 25 basis point rate cut is 88.7%, the probability of a cumulative 50 basis point rate cut is 11.0%, and the probability of a cumulative 75 basis point rate cut is 0.3%.
▌Fed's Daly: Inflation has declined, but the target has not been achieved
Fed’s Daly said that she sees policy adjustments in the coming period; people are increasingly confident that they are getting closer to restoring the inflation rate to a sustainable rate of 2%.
Daly said that U.S. economic growth is slowing down; the inflation rate has declined, but the target has not yet been achieved; and the time to achieve the target is getting closer.
Golden Encyclopedia
What is market depth in cryptocurrency trading?
In cryptocurrency trading, market depth describes the ability of a market to withstand a large number of orders without noticeably affecting the price. It is a liquidity indicator that shows the number of buy and sell orders for a given cryptocurrency at different price points. So, how is market depth displayed? Depth charts are often used to illustrate this data. It plots buy orders (bids) on one side and sell orders (asks) on the other side to reflect price levels.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
