Weekly highlights: Bonk is on the rise, while Pumpfun is falling; Ancient whales appear, BTC pulls back

  • Market Trends: Bonk cryptocurrency rebounds while Pumpfun's airdrop fails, leading to a drop in market share and price. Bitcoin (BTC) pulls back, causing altcoins to plummet collectively.

  • Macro Perspective:

    • Rolex purchases by the nouveau riche may signal a warning for Bitcoin's bull market.
    • Ethereum regains dominance among public chains, with Base and Hyperliquid showing significant growth.
    • Institutional funds are driving Ethereum's bull market, with increasing market trust.
    • The CLARITY Act aims to create a regulatory framework for cryptocurrencies, becoming more urgent post-GENIUS Act.
    • South Korea's crypto market surges, with Upbit's daily trading volume exceeding $10 billion.
    • Arthur Hayes predicts Bitcoin could reach $250,000 by year-end, fueled by Trump's economic policies.
  • Opportunities:

    • Ethereum's ZK track gains traction, with Succinct enabling decentralized proof generation.
    • DataFi emerges as a new blue ocean, exploring data monetization in Web3.
    • Hedera (HBAR) gains market favor due to ecosystem diversity and strong fundamentals.
    • Bullish crypto trading platform, backed by Peter Thiel, restarts IPO plans with 20,000 BTC reserves.
  • Web3 Developments:

    • Moonbirds NFT rebounds post-ownership change, mirroring past success stories.
    • Conflux token doubles in price amid rumors of offshore RMB stablecoin pilot participation.
    • Charles Schwab enters crypto trading, competing with Coinbase and expanding into stablecoins.
    • Pump.fun's airdrop failure triggers a price crash, with short sellers profiting heavily.
  • Key Updates:

    • Hong Kong cracks down on $1.15B stablecoin money laundering case.
    • PayPal launches "PayPal World" to integrate global payment systems.
    • Ethereum releases The Torch NFT to celebrate its 10th anniversary.
    • Polymarket reportedly acquires QCX for $112M.
Summary

PANews Editor's Note: PANews has selected high-quality content of the week to help you use your weekend time to fill in the gaps. Click on the title to read.

Macro perspective

Rolex: The top warning light of the crypto bull market

When the nouveau riche start showing off their Rolex, it will be dangerous to buy Bitcoin.

A review of the performance of 8 mainstream public chains in the past three months: Ethereum returns as the king, and Base and Hyperliquid data soar

From the price trend, the market seems to be entering a long-lost copycat season. But behind the price, what is the development status of these public chains?

10 pictures reveal the prelude to the Ethereum bull market: institutional funds may become the biggest promoter

The market's trust and confidence in Ethereum is constantly increasing.

a16z: How does the CLARITY Act create a regulatory framework for cryptocurrencies?

With the GENIUS Act signed into law, the need for the CLARITY Act becomes more urgent.

Seoul's Big Gamble: Can Crypto Assets Reshape South Korea's Economic Future?

For millions of young Koreans, cryptocurrencies represent a kind of "financial desperation," as researcher Eli Ilha Yune puts it.

Arthur Hayes' latest prediction: Trump's fascist economy will ignite the crypto bull market, and Bitcoin will reach $250,000 by the end of the year!

Uncover the secret waltz between Trump's "fascist economy" and the crypto bull market.

A quick look at the crypto bull market cycle: When will this bull market end?

The market FOMO caused by the RWA narrative may be a profit-taking signal for this cycle.

The Korean market began to soar: it often doubled in a single day, and Upbit's daily trading volume exceeded 10 billion US dollars

The dormant Korean virtual asset market officially recovered in late July, ushering in an explosive market with "both volume and price rising".

Seize the Opportunity

Ethereum ZK track rises again, a comprehensive exploration of ZK network Succinct

The network connects the requester who needs to generate ZK proofs with the global computing power provider network, and separates transaction execution and verification.

Data is an asset: DataFi is opening up a new blue ocean

Discuss the opportunities and development of DataFi, as well as how to participate in the current popular DataFi project.

Ecological diversity boosts Hedera: How does HBAR win market favor?

Many "hard power" factors have accumulated the actual demand for HBAR and also provided support for its price performance.

Diamond Hand Final Chapter: Betting on Bull Market Beta, Four Major Copycat Targets

From chasing Alpha to defending Beta, lock in four targets, record the current price, and see if it can outperform BTC and drill into the next cycle.

Solo: Based on the zkHE authentication protocol, building a trusted anonymous identity layer for Web3

"Solo is building a "trusted anonymous" on-chain identity system based on its original zkHE architecture, which is expected to break the "impossible triangle" that has long plagued Web3, that is, to achieve both privacy protection, identity uniqueness and decentralized verifiability."

Web3 Things

PA Picture | Comparison of Ethereum version of MicroStrategy

SharpLink Gaming, Bitmine and the newcomer The Ether Machine are massively increasing their holdings of ETH as a strategic reserve asset.

With 400,000 ETH in the market and Pantera leading the investment, Ether Machine has emerged to accelerate the "institutional era" of Ethereum

Andrew Keys: "The biggest beneficiary of the GENIUS Act is Ethereum, because 90% of RWA and stablecoins are deployed on Ethereum, just like 90% of searches in the search market occur on Google, while Yahoo and Bing only account for a small share. Ethereum is a productive asset, and unlike Bitcoin, it can generate intrinsic returns through staking."

Bullish is going public again: With 20,000 Bitcoins in hand, Silicon Valley investment tycoon Peter Thiel takes the lead in supporting

Recently, Bullish, a crypto trading platform under Block.one, has restarted its IPO plan after an unsuccessful attempt to go public many years ago. With the increasingly clear regulatory environment in the United States and the accelerated influx of institutional capital, Bullish has once again launched an impact on the capital market with its rich early Bitcoin reserves and strong traditional capital support, but it still faces difficulties such as revenue pressure and high customer concentration.

Moonbirds rebounded strongly after changing its owner. Can it replicate the success path of the fat penguin?

After a period of dormancy, the old blue-chip NFT Moonbirds rebounded strongly after completing a new round of changes in ownership. Behind this is not only the recovery of the overall sentiment of the crypto market, but also the assistance of new narratives and community reconstruction.

Resurrected? All the cool NFTs are collectively pulled up

It's time to take out the little pictures handed down from your ancestors!

Conflux token price doubled in a single day, will it participate in the offshore RMB stablecoin pilot?

Conflux plans to participate in the "Belt and Road" offshore RMB stablecoin issuance pilot.

From the Hornet Brother NFT to the 10 million RWA, analyzing the double controversy of Hainan Huatie

Hainan Huatie's seemingly innovative gameplay, from NFT to RWA, is actually "wandering" on the edge of law and regulation.

The trillion-dollar asset management giant Charles Schwab made a fierce statement, "It will definitely compete with Coinbase", and stablecoins and tokenization are also being laid out

Charles Schwab is accelerating its expansion into the cryptocurrency field. According to the latest statement by CEO Rick Wurster, Charles Schwab will launch Bitcoin and Ethereum trading services, aiming to provide customers with more comprehensive investment options and directly compete with cryptocurrency platforms such as Coinbase.

Is the "Green Pill" going to end? Airdrop failure exacerbated PUMP's break-even, and three post-00s raked in more than $700 million

While competitor LetsBONK.fun was rising strongly, the long-awaited airdrop failure of Pump.fun became the last straw that broke the camel's back and accelerated the downward spiral of PUMP's coin price. Short sellers took the opportunity to make huge profits, and whales cut their losses and fled.

Key Information

Hong Kong Customs cracked a case of suspected money laundering using stablecoins, involving an amount of about 1.15 billion yuan

Sun Yuchen will take the Blue Origin rocket to space

Zhao Changpeng: The index of the copycat season is rising, and the FOMO season is coming

PayPal will launch a global platform PayPal World to connect payment systems and digital wallets

Analysis: Retail leverage soared before FOMC, key positives may emerge in late summer

Powell did not mention monetary policy in his latest conference speech

Ethereum launches The Torch NFT to commemorate its 10th anniversary, and will be open to everyone for minting on July 30

The US FBI ends investigation into Kraken founder Jesse Powell and returns all seized equipment

Informed sources: Polymarket will spend $112 million to acquire compliant exchange QCX

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Author: 一周精选

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