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JP Morgan Chase: Capital inflows into cryptocurrencies have reached $60 billion so far this year

According to The Block reported that JPMorgan analysts estimated that the inflow of funds in the digital asset sector has reached $60 billion this year, driven by the flow of crypto funds, CME futures trading activities and venture capital financing. Since the end of May, the inflow of funds has increased by nearly 50% and is expected to easily surpass the historical record set last year. Analysts pointed out that the US "GENIUS Act" provides a regulatory framework for stablecoins, while the "CLARITY Act" promotes the classification of digital assets. The improved policy environment is attracting more institutional participation. The report added that Ethereum has become the focus of institutional allocation due to its dominant position in DeFi and smart contracts, and the altcoin ETF with pledge function has also received more attention from asset management companies. Fund flows show that digital assets and hedge funds have performed strongly, in contrast to private equity and credit markets. In addition, since most stablecoins are denominated in US dollars, other countries are stepping up their competition.

Analysis: Bitcoin is expected to continue to consolidate until August, and it is difficult to break through the key resistance level of $122,000 in the short term

Matrixport pointed out in its latest report that Bitcoin may maintain a consolidation trend in the summer. Despite the previous breakthrough of the key trend line and reaching a higher trading range, a technical correction has occurred after the high market sentiment, and Bitcoin has fallen 0.6% in the past week. Technical indicators show that both Bitcoin and Ethereum are overbought, and the risk of further corrections has increased. The report pointed out that as the market enters a quiet period in the summer, traders may begin to close their positions, especially Ethereum's open interest has increased significantly, and the rising cost of funds may weaken market confidence and promote further adjustments. In addition, the profit-taking behavior of early investors has exacerbated the selling pressure. Matrixport believes that it is difficult for Bitcoin to break through the key resistance level of $122,000 in the short term, and the market is expected to continue to consolidate until August. In addition, the White House postponed the release of the cryptocurrency report originally scheduled for July 22 to July 30, which may focus on stablecoin-related policies rather than Bitcoin reserve strategies.

Project Dynamics

REX-Osprey's Solana Staking ETF will integrate JitoSOL and distribute 100% of the rewards to shareholders

According to The Block, REX-Osprey's Solana Staking ETF has incorporated staking rewards through cooperation with JitoSOL, the Solana ecosystem liquidity staking token. This makes it the first and only cryptocurrency ETF to provide staking rewards to US investors. The fund's 100% staking rewards will be "fully distributed to shareholders, and neither REX nor Osprey will retain any share." The REX-Osprey Solana+ Staking ETF went live on July 2 and is the first fund approved for staking assets. According to The Block Research, the fund has accumulated at least $222 million in trading volume since its launch and has a net asset value of over $100 million under management. Greg King, CEO of REX Finance and Osprey Fund, said in a statement: "Now, with the liquidity staking function implemented through JitoSOL, we have improved liquidity while maintaining the US ETF structure and continuing to issue native Solana rewards."

Resolv announced the activation of the protocol fee mechanism, and part of the profits will be used to give back to RESOLV stakers

Resolv announced the activation of the Resolv protocol fee mechanism. Starting this month, Resolv will begin to charge protocol fees and use part of the daily profits for long-term value creation and give back to RESOLV stakers. The fees will increase gradually, and from the first to the fourth week and beyond, they will be charged at 2.5%, 5.0%, 7.5%, and 10.0% of daily profits respectively. The protocol fee will only be charged when there is positive income, and there will be no fee for zero income or losses. The protocol income will be used to enhance the value that Resolv provides to users and stakers, including: supporting new integrations in the DeFi, FinTech and institutional fields; funding ecosystem grants and product development; promoting buybacks and other token alignment programs; in the future, users can track income and its use through a dedicated transparent dashboard.

Upbit will list SYRUP on the KRW, BTC, and USDT markets, and HUMA on the BTC and USDT markets

According to the official announcement, the Korean crypto exchange Upbit will list SYRUP tokens on the KRW, BTC, and USDT markets, and HUMA tokens on the BTC and USDT markets.

Binance Wallet Web Beta Version Launched, Initially Supporting BSC and Solana Chains

Binance announced that its wallet web version Beta version is officially launched, and users can click the "Trade" button on the Binance homepage to start the smart chain trading experience. Initially supporting BSC and Solana chains, it is convenient for users to participate in popular token transactions such as Meme Rush and Binance Alpha.

OKX will launch USELESS/USDT and NEWT/USDT perpetual contracts

OKX announced that it will officially launch USELESS/USDT and NEWT/USDT perpetual contracts on the web, App and API platforms from 6:00 pm to 6:15 pm Beijing time on July 25, 2025. Among them, the USELESS/USDT contract trading opening time is 6:00 pm, and the NEWT/USDT contract trading opening time is 6:15 pm.

Binance Alpha will launch Treehouse (TREE)

According to the official announcement, Binance Alpha will launch Treehouse (TREE) on July 29. Eligible users can use Binance Alpha points to claim the airdrop on the Alpha event page, and they can claim it after trading is open. More details will be announced soon. In addition, the Binance Alpha CEX limit order transaction statistics API has been updated.

Binance: The threshold for claiming LN token airdrops is 200 Alpha points

According to the official announcement, Binance announced that after the Lnfi Network (LN) trading starts, users holding at least 200 Binance Alpha points can claim 600 LN token airdrops. First come, first served. If the event is not over, the score threshold will automatically decrease by 10 points every hour. Please note that claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim on the Alpha event page within 24 hours, otherwise it will be deemed to have given up the airdrop.

Important data

Tether Treasury minted 2 billion USDT on the Ethereum chain in the early morning

According to Whale Alert monitoring, at around 1 a.m. today, Tether Treasury minted a total of 2 billion USDT in two transactions on the Ethereum chain.

Suspected Ripple co-founder Chris Larsen sent about $140 million in XRP to exchanges in 7 days

According to The Block, on-chain investigations show that a wallet long associated with Ripple co-founder Chris Larsen has transferred 50 million XRP, worth about $161 million, since July 17. On-chain investigator ZachXBT said the wallet appears to have transferred about $140 million worth of tokens to three addresses associated with exchanges and deposited another 10 million tokens into two newly created wallets. ZachXBT pointed out that 30 million XRP were transferred to two addresses historically used to transfer assets to trading platforms, while the third recipient received 10 million XRP. The last two addresses each held 5 million XRP, and there was no trading activity before. Data shows that the relevant addresses controlled by Larsen still hold about 2.81 billion XRP, which is worth about $9 billion at today's price of $3.20.

Deribit: More than $15.4 billion in BTC and ETH options are about to expire

According to Deribit official news, this Friday, more than $15.4 billion in Bitcoin and Ethereum options will expire. Among them, the nominal value of Bitcoin options is $12.66 billion, the Put/Call ratio is 0.88, and the maximum pain point price is $112,000; the nominal value of Ethereum options is $2.75 billion, the Put/Call ratio is 0.87, and the maximum pain point price is $2,800.

$18.75 million worth of BONK was transferred from Galaxy Digital to Binance and Coinbase

According to on-chain analyst Yu Jin, half an hour after the Bonk project tweeted that it had repurchased and destroyed 500 billion BONK (US$18.47 million), 510 billion BONK (US$18.75 million) was transferred from Galaxy Digital to Binance and Coinbase. This may have caused BONK to fall by 10%: from US$0.0000365 to US$0.0000325.

3 new wallets bought 74,207 ETH again in the past 10 hours, worth $273 million

According to Lookonchain monitoring, new whale wallets continue to increase their holdings of ETH. 3 new wallets bought 74,207 ETH again in the past 10 hours (worth $273 million). Since July 9, 8 new wallets have accumulated 540,460 ETH (worth $1.99 billion).

Arthur Hayes purchased $1 million worth of ENA tokens through multiple channels in the past 7 hours

According to on-chain analyst Ember, BitMEX co-founder Arthur Hayes purchased $1 million worth of ENA tokens through multiple channels in the past 7 hours: 500,000 USDC was transferred to Binance and 1.08 million ENA was withdrawn; 250,000 USDC was transferred to Galaxy Digital and 560,000 ENA was withdrawn; 250,000 USDC was transferred to Flowdesk and 520,000 ENA was withdrawn. In this market, Arthur Hayes has been "calling" for ETH and ETH ecosystem. His own address has also purchased ETH and ETH ecosystem tokens worth US$12.5 million since July 12: 6 million USDC was used to purchase 2071 ETH (unit price: US$2,897); 3 million USDC was used to purchase 7.764 million ENA (unit price: US$0.386); 1 million USDC was used to purchase 3033 AAVE (unit price: US$330); 1 million USDC was used to purchase 1.125 million LDO (unit price: US$0.89); 1 million USDC was used to purchase 791,000 ETHFI (unit price: US$1.26); 500,000 USDC was used to purchase 38.86 billion PEPE (unit price: US$0.0000128).

Data: Nearly 100 million USDT was transferred from Binance to Galaxy Digital 1 hour ago

According to Whale Alert monitoring, at 15:10 Beijing time, 99,999,998 USDT (about 100 million US dollars) were transferred from Binance to Galaxy Digital.

USDC Treasury destroyed 55 million USDC on the Ethereum chain

According to Whale Alert monitoring, at 15:28 Beijing time, USDC Treasury destroyed 55,000,025 USDC on the Ethereum chain, worth about 54,986,842 US dollars.

Ancient Whale has digested about 68,000 of its 80,000 BTC, and there are still about 12,000 BTC (about 1.38 billion US dollars) unsold

According to Ember's monitoring, since the Ancient Whale commissioned Galaxy Digital to sell 80,000 BTC on July 15, about 68,000 BTC have been transferred to exchanges and independent addresses in batches. Among them, 14,000 entered Binance, 8,975 entered Bitstamp, 7,420 entered Bybit, 7,150 entered OKX, and about 30,400 were transferred to multiple independent addresses (possibly OTC buyers). At present, there are still about 12,000 BTC (about 1.38 billion US dollars) unsold, and it is expected that the remaining part will have limited impact on market liquidity. According to previous news, Galaxy transferred out 5,153 BTC in the past 50 minutes, with a total value of 596 million US dollars.

A certain address bought 6 hoodie CryptoPunks with 808 ETH 2 hours ago, and holds a total of 12 CryptoPunks

According to the data on the Opensea chain, the address 0x8000df...6420 purchased a large number of 6 hoodie CryptoPunks at a total price of 808.4 ETH 2 hours ago. The highest price of a single item in the transaction was 148.5 ETH, and the lowest was 124.99 ETH. This address currently holds a total of 12 CryptoPunks.

Bitcoin spot ETFs had a total net inflow of $227 million yesterday, turning into net inflows after three consecutive days of outflows

According to SoSoValue data, yesterday (July 24, Eastern Time), Bitcoin spot ETFs had a total net inflow of $227 million. The Bitcoin spot ETF with the largest net inflow yesterday was Fidelity ETF FBTC, with a net inflow of $107 million per day. Currently, FBTC's total net inflow has reached $12.427 billion. The second largest was VanEck ETF HODL, with a net inflow of $46.3588 million per day. Currently, HODL's total net inflow has reached $1.116 billion. As of press time, the total net asset value of Bitcoin spot ETFs is $154.446 billion, the ETF net asset ratio (market value to total Bitcoin market value) is 6.54%, and the historical cumulative net inflow has reached $54.692 billion.

Ethereum spot ETFs had a total net inflow of $231 million yesterday, continuing net inflows for 15 days

According to SoSoValue data, yesterday (July 24, Eastern Time), Ethereum spot ETFs had a total net inflow of $231 million. The Ethereum spot ETF with the largest single-day net inflow yesterday was Fidelity ETF FETH, with a single-day net inflow of $210 million. Currently, FETH's total historical net inflow has reached $2.33 billion. The second largest ETF was Grayscale’s Ethereum Mini Trust ETF ETH, with a daily net inflow of $25.3375 million. Currently, ETH’s total net inflow has reached $1.178 billion. The Ethereum spot ETF with the largest daily net outflow yesterday was Grayscale’s Ethereum Trust ETF ETHE, with a daily net outflow of $18.5392 million. Currently, ETHE’s total net outflow has reached $4.267 billion. As of press time, the total net asset value of the Ethereum spot ETF was $20.704 billion, and the ETF net asset ratio (market value to the total market value of Ethereum) reached 4.59%, with a historical cumulative net inflow of $8.882 billion.

Financing/Acquisition

Crypto mining company Bitzero received $25 million in financing, and the first batch of funds will be used to purchase 2,900 Bitmain S21 Pro mining machines

According to The Block, the crypto mining company Bitzero, backed by Kevin O’Leary, recently received $25 million in financing, which is planned to be used to expand its mining operations. The company said that the first batch of funds will be used to purchase 2,900 Bitmain S21 Pro mining machines, which are expected to be deployed within four to six months, and will bring the company about $10 million in new revenue each year. At the same time, Bitzero is committed to using hydropower and low-carbon energy to promote the sustainable development of its data centers in North America and Europe. Mohammed Bakhashwain, president and CEO of the company, said that this financing will accelerate the deployment of leading mining technology and further consolidate Bitzero's leading position in sustainable and profitable data centers.

TON Foundation and Kingsway Capital plan to raise $400 million for TONCoin Treasury

According to Aggr News, TON Foundation and Kingsway Capital plan to raise $400 million for TONCoin Treasury.

Institutional holdings

British AI company Satsuma Technology raises $135 million to build a Bitcoin vault

According to Cointelegraph, British artificial intelligence company Satsuma Technology announced that it has successfully raised $135 million to build one of the largest Bitcoin vaults in the UK. The company said that all the committed funds are expected to be received within the next two weeks. This financing is expected to make Satsuma the second largest corporate Bitcoin holder in the UK, second only to The Smarter Web Company. At the same time, this may also become the largest single Bitcoin purchase record by a British company. Satsuma completed this financing through convertible bonds, aiming to accelerate business growth and promote the deep integration of Bitcoin and artificial intelligence.

Semler Scientific purchased another 175 Bitcoins, and its holdings exceeded 5,000

SEC documents show that Semler Scientific increased its holdings by 175 Bitcoins, with an investment amount of approximately US$21 million. As of now, the company's total holdings of Bitcoin have reached 5,021, and the BTC yield has reached 31.3% since the beginning of the year.

Ruihe Digital Technology Holdings announces HK$80 million cryptocurrency investment plan

According to the announcement of Ruihe Digital Technology Holdings Co., Ltd. (03680.HK), the board of directors has approved a budget of HK$80 million to develop Web3.0 business and invest in cryptocurrency assets in the next two years. The company said that this move is aimed at responding to the Hong Kong government's policy of supporting the development of Web3.0 and cryptocurrency industries. It plans to focus on digital asset services in Greater China and provide funds through internal resources or fundraising activities. The company believes that cryptocurrency asset investment is in line with the global trend of digital asset institutionalization and will help enhance overall competitiveness.

GameSquare acquires CryptoPunk #5577 for $5.15 million and increases holdings by 12,913 ETH

According to Chainwire, GameSquare Holdings (NASDAQ: GAME) announced that it has acquired the rare "Cowboy Ape" CryptoPunk NFT (No. 5577) from DeFi pioneer and Compound founder Robert Leshner for $5.15 million in preferred shares. This is the first time GameSquare has directly invested in NFTs, and plans to include it in the NFT income strategy with an annualized return target of 6-10%. At the same time, the company added 12,913 ETH at an average price of approximately $3,646/ETH, with a total holding of $52 million. GameSquare will also work with Superstate to explore the tokenization of shares based on blockchain, and continue to promote the Web3 strategy and digital asset income plan.

Strategy plans to increase the scale of funds raised for the purchase of Bitcoin to US$2 billion

According to zoomer, Strategy (formerly MicroStrategy) plans to increase the scale of funds raised for the purchase of Bitcoin from US$500 million to US$2 billion.

BitMine's Ethereum holdings exceed $2 billion, with a total of 566,776 ETH

According to PR Newswire, BitMine Immersion Technologies (NYSE AMERICAN: BMNR) announced that its Ethereum (ETH) holdings have exceeded $2 billion, with a total of 566,776 ETH, far exceeding the $250 million in the first private placement completed on July 8. Thomas "Tom" Lee, chairman of the company's board of directors, said that BitMine is one step closer to achieving its goal of holding and staking 5% of the world's total ETH. CEO Jonathan Bates said the company will continue to advance its Ethereum treasury strategy to help the development of the Ethereum ecosystem.

OSL Group intends to raise approximately HK$2.355 billion through rights issue for strategic acquisitions, stablecoin business, etc.

According to Jiemian News, on the morning of July 25, OSL Group announced on the Hong Kong Stock Exchange that on July 25, 2025 (before the trading hours), the company had entered into a placing and subscription agreement, a general authorization subscription agreement and a special authorization subscription agreement. The total amount of proceeds from the transactions to be carried out under these agreements is estimated to be approximately HK$2.35503 billion, and the net proceeds are estimated to be approximately HK$2.33610 billion. The placing price is HK$14.90 per placing share, which is a discount of approximately 15.34% to the closing price of the shares on the last trading day on the Hong Kong Stock Exchange. The company intends to use the total net proceeds for the following purposes: approximately 50% to support the company's strategic acquisition initiatives; approximately 30% to develop global business and new business initiatives (including payment and stablecoin initiatives); and approximately 20% for the group's general corporate purposes.

The Smarter Web Company, a listed company, increased its holdings by 225 bitcoins, bringing its total holdings to 1,825 bitcoins

According to an official announcement, the British listed company The Smarter Web Company disclosed that it has increased its holdings by 225 bitcoins and currently owns a total of 1,825 bitcoins.

Windtree, a listed company, announced that it has obtained $520 million in new financing to expand its BNB funding strategy

According to Globenewswire, biotechnology company Windtree Therapeutics, Inc. (NASDAQ: WINT) announced that it has signed a common stock purchase agreement worth up to $500 million to establish an equity line of credit ("ELOC") and strengthen its BNB cryptocurrency funding strategy. The company also signed an additional stock purchase agreement with Build and Build Corp for $20 million. 99% of the funds raised by ELOC and Build and Build Corp will be used to acquire BNB cryptocurrency.

Tether CEO: Over 550 million users in emerging markets worldwide are using USDT.

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