Hot News
After Israel and Iran announced a ceasefire, risk appetite in the global market quickly rebounded. Bitcoin rose 7.2% that week, while oil prices fell sharply by 12% and the S&P 500 climbed 3.44%. As tensions in the Middle East ease, investors' focus is expected to shift back to US political trends, especially the progress of the "Big, American Act" and the possible resumption of the reciprocal tax policy.
Macro Outlook
The White House press secretary said the July 9 tariff deadline was " not critical " and could be extended. President Trump said the deadline did not need to be extended , but it could still be extended if necessary. However, Trump insisted on imposing a 25% tariff on Japanese cars and announced the termination of all trade negotiations with Canada , including because Canada's digital service tax on American technology companies displeased Trump. Canada later abolished the digital service tax to advance trade negotiations with the United States.
Federal Reserve Chairman Powell announced the elimination of “reputational risk” provisions in bank inspections, a move that could benefit cryptocurrency-related businesses, which have previously been reluctant to serve due to the threat of a reputational risk downgrade.
U.S. durable goods orders in May increased by 16.4% month-on-month, far exceeding the market expectation of 8.5%, mainly due to a 230.8% surge in orders for non-defense aircraft and parts.
The final value of US GDP in the first quarter fell by 0.5%, lower than the market expectation of a 0.2% decline.
The US core PCE price index rose 0.2% month-on-month in May, slightly higher than the market expectation of 0.1%. Personal income fell 0.4% month-on-month, significantly lower than the market expectation of 0.3% growth; at the same time, personal expenditure fell 0.1% month-on-month, also lower than the market expectation of 0.1% growth.
Upcoming economic calendars include:
July 1, Tuesday at 10pm: US June ISM Manufacturing PMI and May JOLTs Job Vacancies
July 3, Thursday 8:30 p.m.: U.S. June non-farm payrolls and unemployment data
July 3, Thursday at 10pm: US June ISM Services PMI data
Cryptocurrency Market Overview
The U.S. Federal Housing Finance Agency (FHFA) has ordered Fannie Mae and Freddie Mac to include cryptocurrencies in their mortgage loan portfolios.
Kraken exchange has launched a payment app called Krak , which is now available on iOS and Android platforms.
Gemini Exchange has reached a cooperation with Dinari to launchtokenized stocks on its platform, with MicroStrategy (MSTR) being the first listed stock.
Investment platform Republic has announced plans to launch tokenized SpaceX shares on the Solana blockchain.
Eight commercial banks in South Korea (including KB Kookmin Bank, Shinhan Bank, Woori Bank and Agricultural Hyup Bank) are working together with the Open Blockchain DID Association and the Korea Financial Telecommunications Clearing Association to jointly develop the Korean won stablecoin , aiming to compete with the US dollar stablecoin and enhance South Korea's position in the global payment system.
Layer 1 and Layer 2 Public Chains
Aptos has launched a hot storage solution called Shelby , which is built on a dedicated fiber optic network and has high performance characteristics.
ZKsync releasesAirbender, a high-performance open-source RISC-V zkVM solution. This new zkVM can significantly reduce the operating cost of ZKsync Chains, provide near-instant proof generation capabilities, and bring performance improvements to applications.
Led by DRW Trading and Tradeweb, and with participation from financial giants such as BNP Paribas, Circle, Citadel Investments, and Goldman Sachs, Canton Network has completed a $135 million financing. The network is a first-tier network focused on RWA and currently carries $4 trillion in tokenized RWA assets.
Moca Network launches Moca Chain, which is designed specifically for on-chain identity. Developers can now use the AIR Kit toolkit to integrate the Moca identity module into decentralized applications on any blockchain.
Dapps
Chainlink has reached a partnership with Mastercard to provide users with direct cryptocurrency purchase services on platforms such as Zerohash, Swapper Finance, Shift4 Payments and XSwap.
Sky Protocol announced that it will allocate $1 billion in reserve funds to invest in Grove’s tokenized AAA-rated collateralized loan obligation (CLO) fund.
LayerZero launches Fast Preform Optimization ( FAFO ) to scale EVM performance to 1 million TPS at 91% lower cost than slicing solutions.
World Liberty Financial announced that the WLFI token will soon be available for trading .
Moonshot launches Moonshot Create , a service that provides an easy way to quickly create memecoins through Apple Pay.
Maple Finance announced that its platform will accept HYPE tokens as collateral from institutional borrowers.
Gelato and Morpho have jointly launched an embedded crypto asset loan service, allowing each platform to easily integrate lending functions for users.
f(x) Protocol launches sPOSITIONs , a new fixed leverage short position product with no capital requirements.
The non-custodial crypto debit card protocol-based app has launched HyperApp on iOS and Android platforms. The app supports users to trade perpetual contracts and spot on Hyperliquid and spend USDC through Visa cards.
Sahara lists SAHARA tokens on major exchanges, with a current FDV of approximately $1 billion. Sahara is a full-stack AI platform where users can create and monetize AI models, indexed datasets, and professional agents.
Governance/Project Updates
EthCC8 will be held in Cannes, France from June 30 to July 3, and it is expected that several Ethereum ecosystem protocols will make important announcements.
BNB Chain is expected to launch the Maxwell upgrade on June 30, which will reduce the BSC block time from 1.5 seconds to 0.75 seconds and include other performance optimizations.
Byreal, the Solana decentralized exchange built by Bybit, will be launched on the testnet on June 30.
Jupiter Finance expects to launch its token issuance platform Jupiter Studio this week.
Injective announced that it will launch the inEVM public testnet this week. During the Injective Summit, the team also launched the Injective Income Fund (part of the protocol revenue is used to fund developers), the Injective community burning mechanism (expanding the burning contribution of various activities on the chain), and the iBuild code-free building tool.
The NEAR protocol proposed to reduce its maximum inflation rate from 5% to 2.5% . Previously, the co-founders of DWF promised to purchase an additional10 million NEAR tokens in the secondary market if NEAR reduced inflation to 2.5%.
Maple Finance’s syrupUSDC has passed a proposal of intent to be listed on the Aave V3 core instance.
Lido has passed a proposal to activate a dual governance mechanism that allows stETH holders to delay execution of controversial proposals and exit safely.
Sui Domain Name Services (SuiNS) passed a proposal to repurchase and destroy 80% of the agreement revenue.
Token Unlock
SUI tokens will be unlocked on July 1, accounting for 1.72% of the total token supply.
ENA tokens will be unlocked on July 2, accounting for 1.55% of the total token supply.
JTO tokens will be unlocked on July 7, accounting for 3.33% of the total token supply.
IMX tokens will be unlocked on July 11th, accounting for 1.31% of the total token supply.
IO tokens will be unlocked on July 11th, accounting for 8.05% of the total token supply.
APT tokens will be unlocked on July 12, accounting for 1.75% of the total token supply.
STRK tokens will be unlocked on July 15th, accounting for 3.81% of the total token supply.
ARB tokens will be unlocked on July 16, accounting for 1.87% of the total token supply.
VANA tokens will be unlocked on July 16, accounting for 1.47% of the total token supply.
DBR tokens will be unlocked on July 17, accounting for 20.3% of the total token supply.
SOLV tokens will be unlocked on July 17th, accounting for 20% of the total token supply.
APE tokens will be unlocked on July 17, accounting for 1.92% of the total token supply.
CLOUD tokens will be unlocked on July 18th, accounting for 69.7% of the total token supply.
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