BTC rose 2.39% this week, reaching 112,000 USDT and setting a new historical high; ETH surged 8.35%.
The Monad Foundation will acquire stablecoin infrastructure developer Portal Labs.
UK crypto platform Ziglu is facing financial collapse and has entered special administration.
Ripple's stablecoin RLUSD is accelerating its expansion, with circulation surpassing 500 million USD.
RWA locked assets have exceeded 6.1 billion USD, with BlackRock holding nearly 46% market share, leading the sector.
Gate supports the public sale of Pump.fun (PUMP) tokens, with a total subscription amount of 150,000,000,000 PUMP.
BTC Market Overview — This week, BTC rose 2.39%, setting a new historical high. BTC maintained a narrow range between 107,000–108,500 USDT this week, with overall trading volume relatively subdued. Yesterday, there was a noticeable surge, with prices quickly breaking through the range and briefly touching above 112,000 USDT, setting a new historical high. However, there was a slight pullback afterward, indicating some selling pressure at high levels, and in the short term, it may continue to test the strength of the resistance zone above.
ETH Market Overview — This week, ETH surged 8.35%. ETH showed a pattern of initial decline followed by a rise this week, with prices dropping from around 2,630 USDT to near 2,400 USDT, quickly forming a V-shaped reversal, and strongly breaking through yesterday, reaching as high as 2,780 USDT, setting a recent high. However, after the short-term surge, it may face some profit-taking pressure, and attention should be paid to whether it can stabilize at high levels and further expand upward.
Altcoins — This week, mainstream altcoins showed a moderate upward trend, with BONK rising as much as 27.98%, XLM up 23.12%, and SPX and FLOKI rising 22.71% and 17.88%, respectively.
ETF and Contract Market — In terms of ETF funding, BTC and ETH spot ETFs have recorded net inflows for several days, showing continued support from institutional funds. In the contract market, in the last 24 hours, BTC and ETH contracts saw liquidations of 233.5 million USD and 151.36 million USD, respectively.
Macroeconomic Data — The one-year inflation expectation from the New York Fed in the US dropped to 3.02% in June, a five-month low, down from the previous value of 3.20%, indicating a relief in market concerns about future price pressures, while public worries about layoffs have also significantly eased.
Stablecoins — The total market capitalization of stablecoins has risen to 259.7 billion USD, with further inflows of off-exchange funds.
Gas Fee — This week, the Gas fee on the Ethereum network has increased compared to last week. As of July 10, the average Gas fee for the day was 1.219 Gwei.
This week, the cryptocurrency industry overall showed a rebound, with market sentiment being cautiously optimistic, and most mainstream altcoin sectors closing up. According to Coingecko data, the Tokenized Assets, Launchpad, and Directed Acyclic Graph (DAG) sectors all showed upward trends this week, rising 20.2%, 13.8%, and 9.5%, respectively.
The Tokenized Assets sector mainly refers to tokens issued by platforms that provide tools or infrastructure for asset tokenization. Asset tokenization refers to mapping real-world assets, such as real estate, stocks, and bonds, onto the blockchain through smart contracts, forming digital units that can be traded, staked, or collateralized on-chain. — In the past 7 days, this sector rose 20.2%, with PRCL and STBU rising 58.3% and 45.7%, respectively.
Launchpad is a cryptocurrency crowdfunding platform aimed at helping new blockchain projects raise funds and launch tokens. These platforms provide early investors with opportunities to acquire tokens before they are publicly listed on major exchanges. — In the past 7 days, this sector rose 13.8%, with LAUNCH and REVS rising 662.3% and 103.1%, respectively.
The Directed Acyclic Graph (DAG) sector refers to subfields based on DAG or DAG-improved structures as core underlying architectures. DAG is a directed acyclic graph structure used in the blockchain field to replace the traditional linear chain structure of blockchains. Its core features include: a data structure that presents a forking and non-backtracking topological form, where each new transaction or data unit can directly point to one or more existing units without relying on the entire network to synchronize and package blocks, thus enhancing parallel processing capabilities and throughput. — In the past 7 days, this sector rose 9.5%, with XEL and WATER rising 43.1% and 18.1%, respectively.
The official Pump.fun announced on X platform that the Pump.fun token PUMP will officially launch its initial token offering on July 12, with a total token supply of 1 trillion, corresponding to an estimated valuation of about 4 billion USD. This public sale plan will last until a total of 150 billion tokens are sold or until 10:00 PM Beijing time on July 15. It is important to note that during the public sale, PUMP tokens cannot be traded, and the official expects to open transfer functions within 48–72 hours after the sale ends. Additionally, Pump.fun has made it clear that citizens and residents of the US and UK will not be able to participate in this token offering, and related sales will not be open to these two countries and other restricted areas.
The public sale of Pump.fun aims to quickly attract funds and discussion heat while issuing its own tokens, deeply binding the token value with platform activity and improving the internal economic loop. Although it was briefly overtaken by LetsBonk recently, this move may still bring a short-term influx of traffic and funds, forcing competitors to accelerate innovation in gameplay, issuance rhythm, and cross-chain support to respond to Pump.fun's first-mover advantage in brand influence and user stickiness. However, the 4 billion USD valuation behind the public sale has also raised market concerns about funding support and subsequent liquidity, necessitating vigilance against potential bubbles and valuation pressures.
The Monad Foundation announced that it will officially acquire Portal Labs, a developer focused on stablecoin infrastructure. After the transaction is completed, Portal will continue to operate as a subsidiary, and its co-founder and CEO Raj Parekh will join the Monad Foundation to oversee payment and stablecoin-related business. Portal Labs has long been dedicated to providing SDK and API tools for over 100 blockchains, facilitating developers to quickly integrate stablecoin payment capabilities. This acquisition also means that Portal's multi-chain payment solutions will be deeply integrated with Monad's high-performance Layer 1 blockchain, which is expected to officially launch in the second half of 2025.
This acquisition not only allows Monad to fill the gap in stablecoin payment and cross-chain integration on a technical level but also lays a solid payment infrastructure for its future ecosystem. Portal's multi-chain capabilities are expected to help Monad quickly expand application scenarios after the mainnet launch, enhancing its appeal to developers and enterprises. At the same time, this also reveals Monad's strategic focus on practical application landing and liquidity support in public chain competition, rather than merely relying on performance narratives. This may bring new pressure to competitors that also focus on high performance and multi-chain interoperability, prompting the industry to accelerate the shift from "score running" to competing in real payment scenarios and user experience.
UK crypto banking platform Ziglu announced that it has entered special administration due to its inability to repay debts. Ziglu's board has applied to the court for bankruptcy and designated special administration. David Shambrook and Damian Webb from RSM Restructuring Advisory LLP were appointed as special administrators on July 7 to take over asset management and creditor liquidation work. Financial documents show that Ziglu has incurred losses exceeding 20 million pounds over two consecutive years and suffered asset losses of over 4 million pounds due to the collapse of Celsius Network. On June 13 of this year, the UK's Financial Conduct Authority (FCA) ordered it to suspend electronic money issuance and crypto custody services. Currently, the special administrators have announced that as of the end of 2023, Ziglu holds approximately 7.25 million pounds of customer funds, of which about 6.7 million pounds are crypto assets, and customer withdrawals have been completely frozen; the FCA also reminds investors that related crypto businesses are not covered by deposit insurance.
The chain reaction triggered by Celsius's collapse and tightening regulatory policies has become a key factor in Ziglu's downfall. For the entire industry, this is not only another case of centralized platform risk out of control but also a reminder for users to pay attention to asset custody security and third-party funding risks. At the same time, the FCA's swift intervention also shows that UK regulators are taking a stricter stance on user protection, and the market may accelerate its concentration on platforms with complete compliance licenses, larger asset scales, and stronger risk control capabilities in the future.
Since its launch in December 2024, Ripple's USD-pegged stablecoin RLUSD has achieved rapid growth, with circulation exceeding 500 million USD and an average daily trading volume of about 26 million USD, demonstrating robust market acceptance and growth momentum. Currently, RLUSD is issued on both the XRP Ledger and Ethereum chain, successfully entering the top 20 USD stablecoins globally. It adopts a 1:1 USD peg mechanism, fully backed by cash, cash equivalents, and short-term US Treasury bonds, similar in structure to compliant stablecoins like USDC and FDUSD, reflecting Ripple's path towards financial compliance.
Currently, Ripple is actively applying for a national trust bank license in the US. If approved, it will be able to directly hold customer deposits and issue RLUSD, further strengthening its strategic layout in stablecoins and payment scenarios. This will bring it closer to the banking regulatory system and help deepen its integration with the traditional financial system.
As of now, the total market capitalization of USD stablecoins has exceeded 255 billion USD, accounting for over 95% of the global stablecoin market. Although RLUSD's share is still small (about 501 million USD), its rapid rise reflects a strong market demand for compliant, safe, and transparent USD stablecoins. The growth potential of RLUSD and Ripple's regulatory advancement path are worth continuous attention.
Since its official launch on the Chicago Mercantile Exchange (CME) in March 2025, Solana (SOL) perpetual contracts have accumulated a trading volume exceeding 4 billion USD, indicating that it is rapidly becoming one of the core assets of interest for institutional investors. This performance not only highlights SOL's market liquidity and trading depth but also represents its enhanced status within the mainstream financial system.
Currently, Solana ranks sixth in the global cryptocurrency market capitalization, with its ecosystem showing strong development momentum in areas such as DeFi, Meme, DePIN, and NFT. On-chain data indicates that its active user count and daily transaction volume remain high, laying the foundation for the actual trading demand of financial products.
Solana is one of the few non-BTC/ETH public chain assets supported by CME, which means its derivatives market will gain more sources of liquidity and further solidify its strategic position in the eyes of mainstream investors. If CME subsequently launches options and other advanced products, the Solana ecosystem is expected to continue benefiting.
According to Token Terminal data, the total locked value (TVL) of on-chain real-world assets (RWA) has reached a historical high, surpassing 6.1 billion USD, indicating that this sector is rapidly expanding under trends of compliance, asset tokenization, and increased institutional participation. Among them, asset management giant BlackRock holds the top market position with over 46% market share, highlighting its dominant role in the on-chain RWA ecosystem.
Current RWA market participants include several traditional financial giants and emerging platforms, including well-known institutions like Franklin Templeton, WisdomTree, and VanEck, as well as on-chain native projects like Ondo Finance, Superstate, and Blockchain Capital. As more traditional assets (such as US Treasuries, funds, and credit) gradually move onto the blockchain in token form, RWA TVL is experiencing exponential growth, reflecting the acceleration of the integration between capital markets and blockchain technology.
As regulatory frameworks become clearer, RWA is being viewed as a crucial bridge for the integration of Web3 and TradFi, seen as a key breakthrough point for institutional entry in the next phase. If support for chain expansion, settlement mechanism enhancement, and secondary market liquidity improvement follows, this sector is expected to see further explosive growth.
PUMP is the official utility token of the Pump.fun protocol (which includes the Meme token issuance platform and the AMM protocol swap.pump.fun). Users can freely use the protocol without holding PUMP, as the protocol itself remains completely permissionless. PUMP token holders can participate in various promotional activities initiated by the official team. As a utility token, PUMP will develop in synergy with the Pump.Fun brand, used to incentivize user participation and community building within the ecosystem.
The PUMP token subscription activity is initiated by the Pump.fun team, with a total project valuation of 4 billion USD, intending to sell 15% of the tokens, expecting to raise 600 million USD. The final interpretation rights for token issuance, distribution, and related mechanisms are the responsibility of the project party.
Participation Instructions
Gate Account: Register and complete user verification;
Deposit Assets: Ensure there are sufficient USDT in the account, as subscriptions will be settled in USDT;
Subscription Details
Subscription Time: From July 12, 2025, 22:00 to July 15, 22:00 (UTC+8), until sold out;
Subscription Price: 1 PUMP = 0.004 USDT;
Subscription Method: USDT subscription, please visit the [homepage banner or event page] for the subscription entry;
Total Subscription Amount: 150,000,000,000 PUMP;
Distribution Time: Distribution will occur uniformly after the subscription ends, with specific timing subject to official announcements;
Trading Time: The subsequent opening time will be subject to official announcements.
Disclaimer: This PUMP token sale activity is organized/initiated by Pump.fun, and all interpretation and decision-making rights related to token issuance, distribution, and trading mechanisms belong to the Pump.fun team. Gate, as the official partner platform, only provides the purchase entry and distribution technical support services for the token sale and does not participate in project valuation, market operations, or token liquidity management.
Risk Warning
Market Volatility Risk: The token sale activity carries high risks, and the liquidity and value in the secondary market cannot be determined, which may lead to significant price fluctuations and even result in partial or total loss of funds.
Investment Decision Responsibility: Whether the project valuation is reasonable and whether future market performance can meet expectations must be judged by the user. Please carefully assess your own risk tolerance to avoid investments beyond acceptable limits.
Disclaimer: The platform only provides technical services and does not guarantee or promise any market performance, liquidity, or investment returns of the tokens. Your participation is deemed as fully understanding and voluntarily assuming all risks.
According to RootData, from July 4 to July 10, 2025, a total of 15 crypto projects announced the completion of financing or mergers and acquisitions, covering multiple sectors such as infrastructure, Web3 gaming, AI computing, and cloud mining, showing the market's continued focus on underlying capability building and user application expansion. Below is a brief introduction to the top three projects by financing scale this week:
On July 9, it was announced that approximately 54 million USD in financing was completed, with funds to continue increasing Bitcoin investments.
H100 Group is a health technology company from Sweden, focusing on AI-driven longevity and health services. This round of financing indicates that it is gradually incorporating Bitcoin into its balance sheet and long-term strategic layout as one of its core reserve assets. As of now, H100 Group holds 294.5 Bitcoins.
On July 4, it was announced that 30 million USD in financing was completed, co-led by Bitkraft and Brevan Howard.
Distinct Possibility Studios, founded by John Smedley, co-founder of EverQuest, is dedicated to creating an open-world shooting game that integrates MMORPG and FPS elements. Its first AAA title, Reaper Actual, is expected to launch on Steam and Epic Games Store, with funds used for game development and launch, exploring new directions in Web3 gaming.
On July 7, it was announced that 11.6 million USD in Series A financing was completed, led by Paradigm.
Kuru is a full-chain order book DEX built on the Monad public chain, aiming to provide users with a unified on-chain spot asset trading platform that integrates searching, research, and trading functions. The project is committed to fully on-chain matching, settlement, and other core trading logic to enhance the transparency and decentralization of trading. This round of financing will mainly be used to expand the team and promote protocol development, accelerating the implementation of its full-chain trading infrastructure.
According to Tokenomist data, in the next 7 days (July 11, 2025 - July 16, 2025), the market will see significant unlocks of some important tokens. The top three unlocks are as follows:
CONX will unlock tokens worth approximately 135 million USD in the next 7 days, accounting for 201.96% of the circulating supply.
CHEEL will unlock tokens worth approximately 108 million USD in the next 7 days, accounting for 2.08% of the total supply.
APT will unlock tokens worth approximately 52.14 million USD in the next 7 days, accounting for 1.75% of the circulating supply.
Related: Ripple's RLUSD goes live on Transak, with a market cap exceeding 500 million USD
Original text: “Bitcoin (BTC) Hits a New High of 112,000 USDT | Gate Platform Supports Pump.fun Token Public Sale”
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