Rise of Shiba Inu and Dogecoin Rivals: MAGIC Surges Over 44.32% in 24 Hours

On July 9th, Smart Money and crypto KOL 0xsun.sol (@0xSunNFT) stated that an increasing number of domestic and foreign whales are choosing to "retire" their main wallets and switch to smaller or new wallets. It is speculated that there are two main reasons for this. Firstly, due to significant pressure from copy-trading. Once the main wallet makes a purchase, various copy-trading bots will quickly drive up the price, causing the purchase to reach the expected price increase instantly. Subsequently, there is no room for further action. Selling will easily attract public criticism, and holding will face selling pressure. Secondly, to avoid being attacked by conspiracy theories, such as emotional burdens brought by unfounded speculations like "insider information," "rug pull," and "dumping from a smaller wallet." 0xSun believes that although this trend can reduce manipulation pressure, it also weakens on-chain transparency, providing more room for market manipulation, which may have a ne

On July 9th, as per the report by Decrypt, New Zealand has completely prohibited cryptocurrency ATMs and set the international cash transfer limit at $5,000 in an effort to combat money laundering and crime financing. As part of a significant reform aimed at curbing money laundering and illegal fund flows, the New Zealand government announced that it will shut down all domestic cryptocurrency ATMs and set a $5,000 limit on international cash transfers. New Zealand's Assistant Minister of Justice, Nicole McKee, on Wednesday presented the government's latest anti-money laundering and counter-terrorism financing regime reform plan in a statement.

On July 9th, as per the monitoring of Onchain Lens, a dormant whale/institution has "awakened" today and transferred 9,000 BTC, which is approximately worth $9.77 billion.
In the past 24 hours, this whale has cumulatively transferred out 17,283 BTC, with a value of approximately $18.8 billion.

On July 9th, based on market data, the US stock GameSquare (GAME) was experiencing a temporary after-hours trading at $1.63, with a 5.84% increase. Previously reported, GameSquare Holdings, Inc. (with a Nasdaq stock code: GAME) announced today that the board of directors has approved the establishment of an Ethereum treasury in phases, with a total amount of up to $100 million.

On July 9th, according to the official website of Huobi HTX, Huobi HTX announced its latest monthly Merkle Tree Proof of Reserves (PoR) audit report on July 1st. As of July 1st, 2025, the overall reserve ratio of the platform has remained above 100%, continuously ensuring the security and transparency of user assets. Among them, the USDT user assets are approximately 1.8 billion, and the platform's reserves exceed 1.82 billion, achieving four consecutive months of asset growth. The specific updated reserve ratios are: BTC (101%), ETH (100%), TRX (105%), USDT (101%), HTX (102%), XRP (100%), DOGE (100%), SOL (100%). As one of the earliest platforms to adopt the Merkle Tree verification mechanism in the industry, Huobi HTX has publicly disclosed reserve data for 33 consecutive months.