A whale/institution that accumulated a total of 1,495 WBTC by the end of last year has recently started selling to take profits

On July 4th, JPMorgan Chase anticipates that by 2028, the growth of stablecoins will merely reach $500 billion. They hold the view that the trillion-dollar forecast is "overly optimistic" as there is scant evidence indicating that USD-pegged cryptocurrency tokens will gain widespread acceptance. Presently, stablecoin payment applications remain restricted, accounting for just 6% of the demand, which is approximately $15 billion, mainly concentrated in cryptocurrency trading, decentralized finance, and collateralized lending. Furthermore, in relation to Ant Group's plan to apply for a stablecoin license in Hong Kong through its overseas subsidiary Ant International (which operates the mobile payment app Alipay), JPMorgan Chase stated that the rapid expansion of the digital yuan and the achievements of Alipay and WeChat Pay do not serve as a template for the future expansion of stablecoins. (Reuters)

On July 4th, based on mempool data, this morning a single Bitcoin miner successfully mined Block 903,883 and received a block reward of 3.173 BTC, which is approximately equivalent to $350,000.

On July 4th, as per CoinPost, a subsidiary of Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation announced the establishment of a new business co-creation facility called "HOOPSLINK" within the Marunouchi Building in Chiyoda-ku, Tokyo. The facility is intended to address a wide range of complex social issues by utilizing advanced technologies in order to stimulate further economic growth in Japan. Sumitomo Mitsui Banking Corporation stated that in the present context, businesses need to leverage emerging technologies like generative AI, Web3, and cybersecurity to address various social challenges. HOOPSLINK will organize workshops and seminars on cutting-edge technologies and drive projects such as the commercialization of stablecoins and the applications of augmented reality glasses.

On July 4th, as per an official announcement, Gate will list CROSS (CROSS) for spot trading at 16:15 (UTC+8) on July 4th. Furthermore, at 16:20 (UTC+8), CROSS perpetual contract trading will start (settled in USDT), with support for 1-20x leverage.

On July 4th, former Ethereum core developer Eric Conner recently composed an article and enumerated the three major impetuses for Ethereum's breakout. Stablecoins continuously infusing dollars into Ethereum: It has witnessed 21 months of continuous growth, and the monthly transaction volume is now on an equal footing with Visa. Stablecoins act as the on-chain cash engine, driving the continuous demand for ETH block space. On the other hand, in June alone, the net inflow of spot ETH ETF reached $1.17 billion. Fund managers anticipate that the size of the ETH ETF in the second half of 2025 will be several times this level. Finally, the CEX balances have dropped to only 9 million ETH, which is the lowest level since 2015. Eric Conner pointed out that Ethereum has been fluctuating between $2400 and $2600 for weeks, with decreasing volume and quietly forming higher lows. Prolonged consolidation periods usually lead to sharp fluctuations. Therefore, if ETH firmly breaks above $2600, the

On July 4th, the Nasdaq-listed company DeFi Development Corp. (with the Nasdaq code: DFDV) declared the acquisition of 17,760 SOL, which is approximately worth $2.7 million. After this transaction, DeFi Development Corp. currently holds approximately 640,585 SOL and its equivalents, including staking rewards, and the total value amounts to around $98.1 million. On July 2nd, DeFi Development Corp. (with the Nasdaq code: DFDV) raised $100 million through convertible notes in order to further augment its SOL holdings and repurchase company stocks.