Data: Stablecoin Holders Surpass SOL
According to Decrypt, a recent Reown survey shows that stablecoin holders now exceed SOL holders, accounting for 38% and 37% respectively, indicating a shift in cryptocurrency from speculation to utility applications. Bitcoin and Ethereum still dominate, each representing 48% of users. The survey reveals that while trading remains the most popular on-chain activity (36%), payments have risen to second place (10%), with 14% of users expressing this as their most anticipated future application.
Block Included in S&P 500 Index
On July 24, as reported by Decrypt, Block Inc, the payment platform founded by Twitter co-creator Jack Dorsey, was added to the S&P 500 index yesterday. Block (stock code: XYZ), originally established in 2009 as Square, initially focused on providing financial services and mobile payment solutions. In December 2021, the company was renamed Block Inc., reflecting its growing interest and involvement in blockchain technology and digital assets. Its payment platform Square began offering Bitcoin payment services to merchants. This service utilizes Bitcoin Lightning Network technology, enabling merchants to directly accept Bitcoin payments through Square hardware devices, achieving near-instant, low-cost transaction processing.
US Stocks Rise, Crypto Stocks Show Mixed Performance
According to market data, US stocks closed higher on Wednesday, with the Dow up 1.1%, S&P 500 up 0.78%, and Nasdaq up 0.6%. Crypto-related stocks showed mixed performance: Tesla rose 0.14%, but dropped 4.42% after hours, with Q2 2025 revenue at $22.496 billion compared to $25.5 billion in the same period last year. Elon Musk warned about performance, stating, "Tesla may underperform for several quarters as US subsidies disappear." Bitmine Immersion (BMNR) fell 2.06% with a trading volume of $886 million; SharpLink Gaming (SBET) dropped 5.8% with a volume of $938 million; Bit Digital (BTBT) rose 2.75% with a volume of $99.8 million; Circle increased 2.07% with a volume of $2.06 billion; Coinbase fell 1.6% with a volume of $4.896 billion; MicroStrategy declined 3.22% with a volume of $5.369 billion.
FTX: Next Distribution Scheduled for September, Disputed Claims Reduced by $1.9 Billion
On July 24, FTX announced its next fund distribution will begin on September 30, 2025, with the record date set for August 15. This distribution is for customers with allowed claims, general unsecured claim holders, and previously undistributed convenience claim holders. The bankruptcy court has approved FTX's reduction of disputed claim reserves from $6.5 billion to $4.3 billion, releasing approximately $1.9 billion for this distribution. The distribution will be processed through BitGo, Kraken, and Payoneer. FTX reminds users to complete KYC verification and tax form submissions while being cautious of potential phishing scams.
White House First Crypto Policy Report to be Released on July 30
Bo Hines, executive director of Trump's Digital Assets Advisory Committee, stated on X platform that the Presidential Digital Assets Working Group has completed its 180-day report, the White House's first crypto policy report, which will be publicly released on July 30.
LetsBONK Announces 1% Protocol Revenue Buyback for Top MEME Tokens
On July 24, Solana ecosystem token issuance platform LetsBONK announced it will use 1% of its protocol's total revenue to buy back top MEME tokens in the BONK ecosystem
Recently, LetsBONK's various metrics have topped the Solana ecosystem token issuance platforms. According to Jupiter's data panel, LetsBONK ranked first in the Solana token issuance market share in the past 24 hours with 48.9%, followed by Pump.Fun at 39.3%. Dune data shows LetsBONK issued approximately 23,945 tokens in the past 24 hours, compared to Pump.fun's 8,720. LetsBONK has 265 graduated tokens, while Pump.fun has 66.
Tesla Drops 4.41% After Hours, Musk Warns of Performance
On July 24, according to market data, Tesla (TSLA.O) dropped 4.41% after hours, with the stock price at $317.74. Musk warned about performance, stating, "Tesla (TSLA.O) may underperform for several quarters as US subsidies disappear." Tesla's Q2 2025 revenue was $22.496 billion, compared to $25.5 billion in the same period last year, with market expectations at $22.826 billion. Q2 2025 gross margin was 17.2%, up from Q1's 16.3% and down from 18% in the same period last year.
BNB Breaks $800, Surging Over 700 Times in 7 Years! Binance Platform Coin's Compliance and Wealth Transformation Journey
As BNB breaks through $800 and sets a new historical record, it represents more than just a price leap. It embodies the excess returns of early believers who transformed consumerism into crypto asset allocation, demonstrates the crypto industry's resilience under compliance pressure, and seeks unexpected breakthroughs under the Howey Test led by the SEC. CZ's "Build and Build" sentiment is less a victory declaration and more a mobilization order facing a broader, challenging future of compliance and innovation.
Ethereum's "Siege": $1.9 Billion Migration, Outsiders Want In, Insiders Want Out
Recently, the Ethereum network has seen a wave of validators worth nearly $1.9 billion queuing to exit, while a large amount of capital is also queuing to enter, creating a unique "siege" scenario. This phenomenon is not a panic signal, but a complex capital reallocation: some early stakers are exiting to redeploy capital to higher-yielding reStaking protocols, while regulatory clarity and spot ETF expectations are attracting significant new institutional capital. This large-scale bidirectional flow, along with Ethereum's protocol upgrades to address challenges, reveals a mature and vibrant economic ecosystem where congestion and risks are the "luxurious troubles" of its success and attractiveness.
Broader Sector Rotation: From Tech Stocks to Bitcoin
In summer 2025, global markets are experiencing a major capital rotation from tech stocks to assets like Bitcoin. This rotation's deep driving force is not merely a market adjustment, but a systemic crisis of confidence in centralized institutions, especially the Federal Reserve, marked by public political attacks on the Fed's independence. Under unsustainable fiscal deficit pressures, expectations of fiat currency devaluation are intensifying, making Bitcoin—with transparent rules and immunity to political interference—evolve from "digital gold" to an "ultimate insurance" against systemic institutional risks, becoming a new destination for capital seeking true safety.
US Stock Market Alert: Will the Crypto World Face a Storm or Opportunity When All Sell Signals are Triggered?
Bank of America's chief investment strategist Michael Hartnett warns of risks of extreme optimism and internal fragility, with institutional investors almost "all in," market rises led by a few tech giants, and capital inflows approaching their limit. Additionally, the bond market harbors systemic risks, with 30-year US Treasury yields breaking 5% potentially triggering major changes. Crypto assets may find it difficult to remain unaffected in the short term, but could become a safe-haven asset in a sovereign debt crisis scenario, with stablecoin dynamics serving as a global liquidity indicator.
