Summary
gm, Vitalik Buterin proposed EIP-7983 to implement a 16.77 million gas cap for Ethereum transactions to enhance security and compatibility with zkVMs. Meanwhile, Mercado Bitcoin announced plans to tokenize $200 million in real-world assets on XRP Ledger, highlighting the growing RWA market that Boston Consulting Group projects could reach $19 trillion by 2033. In institutional adoption news, Nasdaq-listed SharpLink Gaming revealed its strategic treasury reserve of nearly 200,000 ETH, emphasizing staking and yield strategies to grow ETH-per-share. Elsewhere, blockchain intelligence firm Arkham reported an $8.6 billion Bitcoin transfer from long-dormant wallets likely related to security upgrades rather than imminent selling pressure, while TON Foundation's UAE Golden Visa program claims triggered skepticism after price surged 12% despite lack of official UAE confirmation.

News Headlines
📊 Bitcoin's Correlation with Wall Street Reaches New Heights

  • Bitcoin's correlation with U.S. equities has risen sharply to 0.48, positioning it as a macro-driven risk asset rather than the anti-establishment, uncorrelated asset once envisioned.
  • The cryptocurrency now demonstrates almost zero correlation with traditional safe havens like gold or the U.S. dollar. Wall Street's increasing influence has shifted perceptions, prompting investors to treat Bitcoin as a risk asset affected by central bank policies and global conflicts.

🎵 Drake References Bitcoin in New Song "What Did I Miss"

  • In his latest song "What Did I Miss," Drake compares the volatility of fake friendships to Bitcoin's price fluctuations, stating "Could be down this week, then I'm up next week." This represents a significant moment as Bitcoin continues gaining mainstream cultural recognition.
  • Drake's involvement with Bitcoin extends beyond lyrics; he has engaged in significant betting on sports events using the cryptocurrency through a partnership with crypto gambling platform Stake, estimated to be worth $100 million annually.

🎮 Earn Bitcoin Through Free Mobile Games

  • A new wave of free-to-play mobile games now offer real Bitcoin rewards, allowing players to accumulate satoshis without any cash investment. These games generate revenue through ads, balancing gameplay with ad viewing.
  • Notable new releases include Bitcoin 2100, launched July 1, 2025, which rewards educational quests, and Bitcoin Miner, which lets users build virtual mining operations while earning actual Bitcoin. Other options include SpaceY, Bitcoin Sudoku, and Idle Mine.

🌍 Crypto Adoption Driven by High-Growth Markets Beyond US

  • While the U.S. is experiencing a crypto boom with increasing institutional adoption, high-growth markets like Indonesia, Vietnam, the Philippines, and Nigeria are seeing substantial crypto adoption driven by necessity rather than speculation.
  • In these regions, crypto serves essential functions like remittances and providing alternatives to volatile local currencies. The global developer landscape is shifting, with more talent moving to areas where blockchain addresses real-world issues.

📈 Bitcoin 'Cup and Handle' Pattern Points to $230K Target

  • Technical analysis suggests Bitcoin could reach $230,000 if it completes a cup and handle breakout pattern, representing a potential 115% gain from current levels.
  • Solana (SOL) is also showing a similar pattern that could lead to a price target of $4,390, requiring gains of nearly 3,000%. Although Bitcoin continues to dominate the market with over 65% dominance, historical patterns suggest an altcoin rally could be approaching.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🌐 UAE Authorities Deny TON's Golden Visa Program Claims

  • The UAE government officially refuted The Open Network's claim that staking $100,000 in TON would qualify applicants for a 10-year golden visa, causing TON coin to drop 6%.
  • UAE regulatory bodies emphasized that digital asset holdings don't qualify for residency visas, highlighting the importance of verified information in the cryptocurrency space to prevent fraud.

💰 Elon Musk Announces Pro-Bitcoin Political Party

  • Elon Musk is launching the "America Party" that will champion Bitcoin, describing fiat currency as "hopeless" and focusing primarily on Congressional races rather than the Presidential election.
  • The party aims to be pro-technology and pro-free speech, reflecting Musk's ongoing commitment to cryptocurrencies previously demonstrated through Tesla and SpaceX investments in Bitcoin.

🔄 BTC Rises as Treasury Secretary Hints at Trade Deals

  • Bitcoin surged over 1% as U.S. Treasury Secretary Scott Bessent suggested imminent trade deals before the July 9 "Liberation Day" tariff deadline.
  • The market response indicates that potential positive trade negotiations and temporary tariff pauses are influencing crypto prices, with XRP, Solana, and Dogecoin also seeing gains.

🏛️ Secret Service Builds Massive Crypto Treasury from Seizures

  • The US Secret Service has confiscated nearly $400 million in digital assets over the past decade, creating one of the world's largest crypto cold wallets through investigations of scams and fraud.
  • The agency's Global Investigative Operations Center (GIOC) uses blockchain analysis to track fraudulent investment platforms and extortion schemes, combatting the leading cause of internet crime losses in the US.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has given a positive signal from the rectangle formation by a break up through the resistance at 107710. Further rise to 115727 or more is signaled. The currency is testing resistance at points 110000. This could give a negative reaction, but an upward breakthrough of points 110000 means a positive signal. The short term momentum of the currency is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Bitcoin. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically slightly positive for the short term.

Ethereum - Investors have accepted lower prices over time to get out of Ethereum and the currency is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency is between support at points 2490 and resistance at points 2770. A definitive break through of one of these levels predicts the new direction. RSI above 70 shows that the currency has strong positive momentum in the short term. Investors have steadily paid more to buy the currency, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically neutral for the short term.