Summary
gm, Goldman Sachs and BNY Mellon prepared to launch tokenized funds, signaling a major shift in traditional finance's approach to digital assets. Meanwhile, Ethena Labs partnered with Anchorage Digital to bring its $1.5 billion USDtb stablecoin to the US market following the passage of the GENIUS Act, which has triggered a $4 billion surge in stablecoin market cap. Ethereum's market position strengthened with BlackRock's Ethereum ETF reaching $10 billion in assets, making it the third-fastest ETF to achieve this milestone, while a notable Satoshi-era Bitcoin whale moved and sold approximately $9.3 billion worth of BTC through Galaxy Digital. On the corporate front, companies continued their crypto treasury strategies with Michael Saylor's Strategy increasing its preferred stock offering to $2.5 billion for additional Bitcoin purchases.

News Headlines
šŸ’ø BitMine Goes From 0 to $2.1 Billion Ether In 16-Day Blitz

  • BitMine Immersion Technologies rapidly acquired 566,776 ETH worth over $2.1 billion in just 16 days, positioning itself as the largest holder among new Ether treasury companies. The firm plans to acquire and stake 5% of the total Ether supply, approximately 6 million ETH valued at $22 billion.
  • Following this aggressive ETH acquisition strategy, BitMine's stock has surged over 3,000%, reflecting the growing competition among corporate entities to secure Ethereum assets in their treasuries.

šŸ“ˆ ETH Price Still on Track for $4K Despite Bitcoin, Altcoins Sell-off

  • Despite Bitcoin's significant drop to $115,000, Ethereum has shown remarkable resilience by maintaining support above $3,500, with its bullish structure remaining intact. New whale wallets have accumulated over 540,000 ETH (worth nearly $2 billion) since July 9.
  • While short-term risks exist with a concentration of buy orders between $3,000-$3,400, breaking above the $3,750 resistance could propel ETH towards $4,000. This performance is backed by significant institutional interest, even amid broader market weakness.

šŸ” MEV Arbitrageurs on Ethereum Increasingly Centralized

  • A research paper reveals that max-extractable value (MEV) arbitrageurs on Ethereum are becoming increasingly centralized, threatening the network's decentralization. These "searchers" are increasingly connected to block builders, exploiting price differences between centralized and decentralized exchanges.
  • With 80% of blocks proposed by just two entities, this concentration of power increases vulnerability to censorship and adversely affects Ethereum's decentralization. The current Proposer-Builder Separation system may unintentionally foster these centralization pressures.

šŸ’ø Ether to Show Bitcoin 'Leadership' as BTC ETFs Lose $285M

  • Recent research by Swissblock highlights that Ether is emerging as a leader in the cryptocurrency market, with Ether ETFs experiencing substantial inflows exceeding $500 million daily while Bitcoin ETFs saw a decline totaling around $285 million over three days.
  • This trend signals a "structural" shift as institutional investors pivot from Bitcoin to Ether during the current bull market. As Bitcoin consolidates, Ether is taking a leadership role, with demand for Ether ETFs aligning with rising market momentum.

šŸ’° US Crypto Legislation Drives $4B Surge in Stablecoin Supply

  • The recently enacted GENIUS Act has triggered a $4 billion surge in the stablecoin market cap, which now exceeds $264 billion. The legislation provides a clear federal framework for fiat-backed stablecoins, requiring issuers to hold full reserves and undergo audits.
  • Major financial institutions, including Bank of America, are exploring stablecoin offerings, while firms like WisdomTree are entering the market with compliant dollar-backed stablecoins. This regulatory clarity signals a significant shift toward institutional adoption.

Market Metrics

Fundraising & VC
1. Satsuma (Undisclosed, $135M) - Blockchain indexing platform
2. Courtyard (Series A, $30M) - Marketplace for tokenized physical collectibles
3. Bloom (Pre-seed, $1.6M) - Social layer for on-chain finance

Regulatory
āš ļø Elizabeth Warren Warns Against GENIUS Act's Potential Harms

  • Senator Elizabeth Warren has criticized the GENIUS Act, claiming Americans will face negative consequences from legislation she believes was heavily influenced by crypto industry lobbying.
  • Warren drew parallels to the Commodity Futures Modernization Act of 2000, warning that allowing the industry to set regulations could lead to outcomes similar to the 2008 financial crisis.

šŸ“± Fintech and Crypto Groups Urge Trump to Protect Open Banking

  • A coalition including the Blockchain Association and Crypto Council for Innovation is urging President Trump to defend open banking rules against legal challenges from large US banks.
  • The organizations claim banks are stifling innovation by suing to block new regulations and imposing data fees on fintech and crypto companies.

šŸŒ Nigeria Opens Doors to Stablecoin Firms Under Regulatory Oversight

  • Nigeria's Securities and Exchange Commission has announced its readiness to welcome stablecoin businesses that comply with local regulations, marking a shift toward supportive crypto policy.
  • SEC Director-General Emomotimi Agama emphasized that regulating stablecoins is crucial for Nigeria's financial progress, with some stablecoin-focused firms already operating in the SEC's regulatory sandbox.

šŸš€ Vietnam Launches National Blockchain Platform

  • Vietnam has officially launched NDAChain, a national blockchain platform designed to enhance the country's digital ecosystem and verify digital transactions and records.
  • The platform features 49 validator nodes operated by both state agencies and private sector firms, using a hybrid data architecture combining centralized and decentralized elements.

āš–ļø DOJ Considering Charges Against Dragonfly Capital Over Tornado Cash

  • The Department of Justice is contemplating charges against crypto venture capital firm Dragonfly Capital Partners regarding their investment in developers behind Tornado Cash.
  • The revelation came during Roman Storm's ongoing criminal trial, where prosecutors disclosed that a Dragonfly partner's devices were seized and residence was raided as part of the investigation.

Technical Analysis
Bitcoin - Investors have paid higher prices over time to buy Bitcoin and the currency is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 107710. The objective at 115727 is now met, but the formation still gives a signal in the same direction. The currency has support at points 110000 and resistance at points 121000. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 2780 points. The volume balance is positive and strengthens the currency in the short term. 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 RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The currency is overall assessed as technically positive for the short term.