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Bitcoin once again pushed toward the $120K handle before fading back to the mid-range support near $118K. Price action remains consolidative, with capital rotating into higher-beta names. The broader crypto market is leaning risk-off this morning, and if BTC loses momentum, the next key support sits near the 20-day moving average around $114K, aligned with the CME gap, which could act as support if downside pressure intensifies.
In terms of weekly performance, meme and legacy names outperformed: DOGE +23%, LTC +18%, SOL +16%, and ETH +15%. On the flip side, AAVE lagged -11%, HYPE dropped -10%, and SUI slid -5%.
A standout this week is Fartcoin, a SOL meme coin which now ranks 10th globally in derivatives open interest. With OI exceeding $1B (roughly 65% of its market cap), the setup signals frothy speculative activity in certain corners of the market.
On the prediction markets side, Polymarket, recently valued at over $1B, is weighing the launch of a native stablecoin versus a revenue-sharing agreement with Circle tied to USDC balances on its platform.
Globally, risk sentiment was buoyed after former President Trump confirmed a trade deal with Japan. The agreement includes reciprocal 15% tariffs and raises expectations of further deals, particularly with the EU. Equity futures are trending higher on the back of the news.
The News Room
Public companies now hold $3.2 B worth of Ethereum, swelling past 865,000 ETH
Publicly traded companies have collectively increased their Ethereum holdings to over $3.2 billion, representing more than 865,000 ETH on their balance sheets—a notable influx in corporate interest. This surge reflects growing institutional confidence in Ethereum as a treasury asset, marking a significant milestone in the integration of crypto into traditional corporate finance.
Solana ETF skyrockets to $100 million AUM in just 12 days
The newly launched REX‑Osprey Solana Staking ETF (SSK) has hit $100 million in assets under management just 12 trading days post-launch on July 2. This rapid growth underscores institutional and retail demand for regulated, staking-enabled Solana exposure—helping drive SOL's price above $200 and boost on-chain activity, with over $10 billion in DeFi TVL and significant token deployments.
Dogecoin poised for transformation with zero-knowledge proof proposal
DogeOS has proposed integrating a native zero‑knowledge proof opcode—OP_CHECKZKP—into Dogecoin to enable Ethereum-compatible smart contracts without bloating the base chain. This upgrade promises to unlock cross-chain interoperability, confidential transactions, and scalable dApps while maintaining Dogecoin’s lightweight ethos. As Dogecoin seeks to evolve beyond simple payments, this proposal could be a pivotal step toward building a more versatile ecosystem
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