Son Min

Global cryptocurrency exchange Binance will list Resolve (RESOLV). On the 11th (local time), Binance announced on its official website, "Resolve has been selected as the 21st HODLer Airdrop Project" and added, "The spot trading pair will be listed today at 23:30 (KST)."

It has been revealed that an address presumed to belong to Consensys, an Ethereum (ETH) infrastructure company, has purchased 17,864 ETH. On the 11th (local time), The Data Nerd stated on X (formerly Twitter), "An address presumed to belong to Consensys has purchased 17,864 ETH through a Galaxy Digital over-the-counter (OTC) transaction," adding, "This amounts to approximately $49.67 million." As of 7:26 PM, Ethereum is trading at $2,765 on the Binance USDT market, up 2.7% compared to 24 hours ago.

Global cryptocurrency exchange Binance is listing perpetual futures for Taiko (TAIKO) and SubSquid (SQD). On the 11th (local time), Binance announced on its official website, "We will list the TAIKO/USDT perpetual futures at 21:30 (KST) on the 11th," and added, "On the same day at 21:45 (KST), the SQD/USDT futures will also be listed." Both pairs support up to 50x leverage.

Ethereum (ETH) has broken out of a month-long sideways range, and there is an opinion that $2,700~$2,760 will serve as a strong support level. On the 11th (local time), Glassnode stated on X (formerly Twitter), "Ethereum has exited a month-long sideways range," adding, "According to Cost Basis Distribution (CBD), 1.3 million ETH was accumulated in the $2,700~$2,740 range and 800,000 ETH was purchased in the $2,760 range." They further stated, "A strong support level may form around this price zone," adding, "If this support holds, the price could rise to $3,420." As of 7:15 PM, based on Binance USDT market, Ethereum is trading at $2,765, up 2.62% compared to 24 hours ago.

Japan-listed electric power company Remixpoint has reportedly made an additional purchase of 50 Bitcoin (BTC). On the 11th (local time), Remixpoint announced in a press release, "We have invested ¥793,900,000 to purchase an additional 50BTC." The total amount of Bitcoin accumulated so far has reached 925. Meanwhile, Remixpoint also made a purchase of 44.8BTC on the 6th.

A large Ethereum (ETH) short position has formed, sparking claims that a sharp surge could result from a short squeeze. On the 11th (local time), Jack Lee, the founder of LD Capital, stated on X (formerly Twitter), "The reason for the bullish outlook on Ethereum is simple," adding, "Currently, there are $1.3 billion worth of short positions on the Chicago Mercantile Exchange (CME), $1 billion on Aave (AAVE), and at least $3 billion in total across all exchanges." He said, "A combined $5 billion worth of short positions significantly increases the probability of a short squeeze," and added, "Ethereum could soar to $4,000." He continued, "We have purchased 100,000 Ethereum options according to this scenario." He also described the pro-crypto policies of various countries as positive. Jack Lee said, "With pro-digital asset policies, the Ethereum ecosystem is likely to become the top priority asset for traditional capital inflows," and added, "The Ethereum ecosystem is home to the best projects."

On the Tron (TRX) network, the Trump family-led decentralized finance (DeFi) project World Liberty Financial (WLFI) has issued a dollar-based stablecoin USD1. On the 10th (local time), Justin Sun, founder of Tron, announced on X (formerly Twitter), "The very first USD1 has been officially launched on the Tron network," adding, "It's a small step for USD1, but a giant leap for the stablecoin market." As of 5:22 PM, Tron is trading at $0.2909 on the Binance USDT market, up 1.64% from 24 hours ago.

A bill has been introduced in Ukraine that would allow virtual assets (cryptocurrencies) to be included in the country's strategic reserves. According to Cointelegraph on the 10th (local time), Yaroslav Zhelezniak, a member of the Ukrainian parliament, and others have introduced a bill that permits the National Bank of Ukraine (NBU) to include virtual assets such as Bitcoin (BTC) in its reserve assets. Yaroslav Zhelezniak commented, "This bill could serve as an opportunity for Ukraine to participate in global financial innovation," adding, "If virtual assets are properly accumulated, it could enhance economic stability and promote the development of the digital economy." However, the bill does not mandate the central bank to purchase virtual assets. Zhelezniak further explained, "It does not require the National Bank to necessarily purchase virtual assets," and "how, when, and how much to buy is entirely up to the authorities."

Bitcoin (BTC) is trading near its all-time high, and there are reports that no profit-taking activity is being observed. On the 10th (local time), CryptoQuant stated via X (formerly Twitter), "Currently, Bitcoin is trading at a price level close to its all-time high," and added, "There is no sign of the profit-taking activity observed at previous peaks." They continued, "Investors are waiting for the market to become even more overheated," and "Therefore, it is very likely that Bitcoin will reach a new all-time high before this cycle ends." As of 4:53 PM, based on Binance USDT Market, Bitcoin is trading at $109,496, up 0.21% from 24 hours ago.

William Timmons, a Republican member of the U.S. House of Representatives, has reportedly requested the Securities and Exchange Commission (SEC) to disclose documents regarding how Ethereum (ETH) has been handled. According to Cointelegraph on the 10th (local time), Representative Timmons stated in a letter, "Former SEC leadership did not make clear their views on how securities laws apply to virtual assets (cryptocurrencies)," adding, "The SEC must release specific documents on how it has viewed Ethereum thus far." He continued, "If these documents are disclosed, the public and Congress will be able to better understand the previous leadership's approach." He also expressed a negative view of the SEC's past actions. Timmons said, "The SEC has repeatedly refused to answer the question of whether Ethereum is a security," noting that "millions of virtual asset market participants have suffered instability and confusion as a result."

Tesla CEO Elon Musk has expressed his apologies to former U.S. President Donald Trump. Dogecoin (DOGE) also surged sharply on the news. On the 10th (local time), Elon Musk, Tesla CEO, through X (formerly Twitter), stated, "Some of the posts I made about President Trump last week may have gone too far," adding, "I regret that." Previously, Musk and Trump had engaged in a public dispute through social media services (SNS). Following Musk's apology, Dogecoin soared. As of 4:23 PM, Dogecoin is trading at $0.20429 on the Binance USDT market, up 7.1% from 24 hours earlier.

An analysis suggests that the price increase of Ethereum (ETH) has been led by the perpetual futures market rather than the spot market. On the 10th (local time), Matrixport stated in a report, "The current Ethereum rally is based on leveraged futures trading, not spot trading," adding, "Ethereum open interest (OI) is close to its high from December last year." They further mentioned, "The Ethereum funding rate has also surged to 13.7%," noting that, "This is the highest level since February." However, since this sharp rise is driven by leverage, the risks have also increased. The report explained, "Demand for Ethereum call options has also increased significantly. As a result, Gamma Hedging is occurring, which is creating serious gap risk." The report continued, "This contrasts with Bitcoin (BTC), which continues to rise based on spot demand." Meanwhile, according to The Block, a media outlet specializing in digital assets (cryptocurrencies), Ethereum derivatives trading volume jumped 38% over the past 24 hours to reach $110 billion, significantly outpacing Bitcoin derivatives trading volume. As of 4:12 PM, Ethereum is trading at $2,798 on the Binance USDT market, up 4.76% from 24 hours ago.

Real World Asset (RWA) project Ondo Finance (ONDO) has launched a tokenized US Treasury product on the Ripple-based blockchain XRP Ledger (XRPL). On the 10th (local time), Cointelegraph announced via X (formerly Twitter) that "Ondo Finance has officially launched a tokenized US Treasury product on XRP Ledger," and added "Institutional investors can smoothly redeem and issue Treasury tokens using Ripple’s stablecoin, Ripple USD (RLUSD)." As of 3:42 PM, based on Binance USDT market, Ondo Finance and XRP are trading at $0.8948 and $2.29 respectively, up 3.30% and 0.05% compared to 24 hours ago.

It has been reported that the open interest (OI) in perpetual Ethereum (ETH) futures has reached an all-time high. On the 10th (local time), Cointelegraph stated on X (formerly Twitter) that “Ethereum futures open interest has surpassed $40 billion,” emphasizing that “this is a record high.” As of 3:34 PM, Ethereum is trading at $2,782 on the Binance USDT market, up 4.43% from 24 hours ago.

There is a claim that a large number of altcoin exchange-traded funds (ETFs) may be approved this summer. On the 10th (local time), Eric Balchunas, a senior ETF analyst at Bloomberg, said on X (formerly Twitter), "This summer will be the season for the approval of altcoin ETFs," adding, "Some basket-type products are also expected to be approved." However, he did not express high expectations regarding inflows into altcoin ETFs. He stated, "Altcoin ETFs may attract some funds, but it is difficult to predict the scale," and added, "It will not be on the same level as Bitcoin (BTC)." He further mentioned, "The farther you move away from Bitcoin, the fewer assets there will be." According to Bloomberg's latest data, there is a 90% probability that Solana (SOL) and Litecoin (LTC) ETFs will be approved within this year. The approval probabilities for XRP and Dogecoin (DOGE) ETFs were 85% and 80%, respectively.

The number of Bitcoins (BTC) held by long-term investors has reached an all-time high. On the 10th (local time), CoinDesk reported, "Long-term holders' Bitcoin holdings reached 14.46 million BTC," and described this as "an all-time high." It continued, "This demonstrates strong market confidence in a price increase," adding, "It could act as a positive factor for future price appreciation." In contrast, short-term investors are noted to be on a selling trend. The outlet said, "From March to June, short-term investors sold about 350,000 BTC," which contrasts with the fact that long-term holders accumulated 500,000 BTC. As of 12:01 PM, according to the Binance USDT market, Bitcoin is trading at $108,537, up 0.91% from 24 hours ago.

An analysis has shown that Bitcoin (BTC) network activity is sharply declining. On the 10th (local time), CryptoQuant announced via X (formerly Twitter), "Bitcoin network activity is in a sharp downward trend," and stated, "The network activity index recorded 3,470." This is the lowest level in the last year and a half. Additionally, it was mentioned that even investments under $10,000 are decreasing. CryptoQuant added, "Recently, the individual investor demand index has dropped by more than 5%," and explained, "Individuals' interest is also weakening."

It has been observed that the Total Value Locked (TVL) in lending protocols on the Tron (TRX) network has decreased by about $2 billion. On the 10th (local time), João Wedson, a CryptoQuant contributor, reported, "In the past few days, the lending protocol TVL on the Tron network has dropped by $2 billion," adding, "This has occurred despite the rising price of Tron." He continued, "Even in the past, when Tron's lending protocol TVL decreased, Tron tended to rise," but also emphasized, "Future developments should be closely monitored." He further added, "This may indicate declining interest in lending or structural changes within the ecosystem." As of 11:45 PM, based on Binance USDT market, Tron is trading at $0.2932, up 3.86% from 24 hours ago.

The Bitcoin (BTC) mining company 'American Bitcoin', supported by Donald Trump Jr. and Eric Trump, has reportedly accumulated 215 BTC. On the 10th (local time), Cointelegraph announced via X (formerly Twitter) that "'American Bitcoin', supported by Donald Trump's two sons, has quietly stored 215BTC since its launch on April 1 (local time)." This amounts to approximately $23,000,000. As of 10:57 PM, based on Binance USDT market, Bitcoin is trading at $109,216, up 2.04% from 24 hours ago.

It has been observed that the pressure to realize profits among investors holding Bitcoin (BTC) for over one year has decreased. On the 10th (local time), Glassnode stated via X (formerly Twitter), "The realized profits of investors who have held Bitcoin for over a year have dropped sharply from $126 million to $13.6 million, an 89% decrease," and noted, "The pressure to realize profits is significantly lower compared to the peak at the end of May." As of 10:16 PM, Bitcoin is trading at $109,792, up 1.97% from 24 hours ago on the Binance USDT market.

The virtual asset (cryptocurrency) management firm Metalpa Technology Holdings, listed on Nasdaq, is reported to have purchased 18,000 Ethereum. On the 10th (local time), SolidIntel announced on X (formerly Twitter), "10 hours ago, Metalpa purchased 18,000 ETH on Binance." This is equivalent to about $48,450,000. As of 10:13 p.m., Ethereum is trading at $2,775 on the Binance USDT Market, up 9.26% compared to 24 hours ago.

The cumulative trading volume of US Bitcoin (BTC) spot exchange-traded funds (ETF) has approached $1 trillion. On the 10th (local time), The Block reported, "US Bitcoin spot ETFs have reached nearly $1 trillion in cumulative trading volume after just 18 months since launch." The article added, "Given the daily trading volumes last week, the $1 trillion mark could be surpassed within a few days." The current cumulative trading volume stands at $995.2 billion. Particular attention was paid to the growth of BlackRock’s Bitcoin spot ETF, IBIT. The outlet stated, "IBIT continues to dominate the Bitcoin ETF market," and added, "While its market share was 22% at launch, it now exceeds 79%." It further mentioned that its total assets under management (AUM) have surpassed $70 billion, firmly ranking it at the top.

Over the past two days, whales have accumulated a large amount of Cardano (ADA). On the 10th (local time), cryptocurrency analyst Ali Martinez stated on X (formerly Twitter), "In the last 48 hours, whales have accumulated over 120 million ADA." This amounts to approximately $84.88 million (₩116.0 billion) based on current prices. As of 9:33 PM, Cardano is trading at $0.7074 on the Binance USDT market, up 5.11% compared to 24 hours ago.