Matrixport: Cryptocurrency Market Lacks New Catalysts, Retail Trading Enthusiasm Wanes Overall

July 7th. According to official channels, Binance Alpha is scheduled to list RCADE (RCADE) on July 9th. Qualified users can access the Alpha activity page once Alpha trading commences and claim the airdrop by using Alpha Points. More specific details will be provided at a later time.

On July 7th, as reported by cryptoinamerica, the Digital Asset Working Group of the Trump administration is making intensive preparations to submit the first significant cryptocurrency policy report before July 22nd. This report is the outcome of several months of collaboration between the working group led by David Sacks and Bo Hines and high-level officials from the Treasury Department, Commerce Department, SEC, CFTC, and other agencies. Its purpose is to implement the executive order signed by President Trump in January to enhance America's leadership in the cryptocurrency field. The report is expected to contain regulatory and legislative recommendations, but the specific content remains unclear. The original mission of the working group included formulating a federal digital asset framework covering stablecoins (as Congress has initiated relevant procedures) and exploring the establishment of a national digital asset reserve (established by Trump in March). Caroline Pham, a member

On July 7th, the Securities and Futures Commission of Hong Kong (SFC) convened the second Digital Assets Consultation Group meeting today. This meeting involving licensed virtual asset trading platforms encompassed a broad range of topics related to market and regulatory advancements in the Hong Kong digital asset arena. Specifically, it focused on the relevant measures under the SFC's ASPIRe roadmap's Pillar A (Access) and Pillar P (Products). These included proposed regulatory systems for virtual asset trading and custody service providers, as well as measures for market participation and product offerings. (Golden Ten)

On July 7th, as reported by cryptoinamerica, this Wednesday the Senate Banking Committee is set to hold a hearing on establishing a $30 trillion digital asset industry regulatory framework. It is anticipated that a discussion draft of market structure reform proposals will be released later this week. The draft will incorporate provisions from the 2023 Lumis-Gillibrand Responsible Financial Innovation Act and draw on relevant provisions of the recently introduced CLARITY Act in the House. The holding of the hearing and the release of the draft are in line with the committee's goal of introducing market structure legislation before the August recess. The Senate Agriculture Committee, which is responsible for regulating the Commodity Futures Trading Commission, will also play a crucial role in market structure legislation and is expected to hold a special hearing shortly.

Update: As per official information on July 7th, Gate initiated M Perpetual Contract Trading (settled in USDT) with a leverage ranging from 1x to 20x on July 7th.

July 7th. The analyst firm Jyske Markets holds the view that on the eve of the July 9th deadline for the U.S. tariff negotiations, the market exhibited a certain degree of nervousness, yet there was no panic. Jyske mentioned that investors began the week with a certain wait-and-see stance. Trump declared that the tariff letter would be dispatched as early as Monday, notifying countries of new tariffs. Meanwhile, the U.S. Secretary of Commerce stated that the tariffs would not come into effect until August 1st. "Although there is some nervousness today, the market's response to the tariff situation appears to be much more relaxed. Therefore, it is expected that a panic situation similar to the one after April 25th Liberation Day will not occur again." This week, there is relatively light data, with tariffs being the main focus. (FXStreet)