On July 4, the price of Bitcoin (BTC) fluctuated upwards from around 105,000 USDT and established a new oscillation platform in the 109,000-110,000 USDT range; Ethereum (ETH) consolidated at a high level in the 2,560-2,600 USDT range. The U.S. Senate passed a key procedural vote on the "Big and Beautiful" bill; Ondo Finance and Pantera Capital plan to launch a $250 million fund to support RWA projects; Owlto is promoting cross-chain infrastructure centered around the USD1 stablecoin.
BTC (0.44% | Current price 109,531 USDT): The price of BTC fluctuated upwards from around 105,000 USDT and established a new oscillation platform in the 109,000-110,000 USDT range. After reaching above 110,000 USDT, the price slightly retraced and is currently consolidating in a narrow range around 109,531.9 USDT, indicating a tug-of-war between bulls and bears at this high level. In the short term, the price may continue to oscillate within this platform, with a possibility of a slight retracement. On July 3, the net inflow into BTC ETFs reached $601 million in a single day, with BlackRock's IBIT inflow of $224 million and Fidelity's FBTC inflow of $237 million, showing that institutional funds are continuously increasing their positions in Bitcoin, enhancing the asset's allocation weight.
ETH (0.33% | Current price 2,590 USDT): The price of ETH quickly surged from a low of around 2,400 USDT and achieved a significant breakthrough on July 3, briefly testing the 2,600 USDT mark. After the surge, ETH consolidated in the 2,560-2,600 USDT range, where both bulls and bears engaged in fierce competition, but the overall trend leaned towards the upside. Currently, ETH is still oscillating at a high level, indicating that bulls are striving to maintain strength. On July 3, the net inflow into ETH ETFs reached $148 million in a single day, with BlackRock's ETHA inflow of $85.4 million and Fidelity's FETH inflow of $64.6 million.
Altcoins: Most mainstream altcoins maintained slight increases, with market sentiment primarily "neutral" or "buy." The Fear and Greed Index reported 73 today, still in the greed zone, indicating relatively positive market sentiment but cautioning against the risk of overheating.
Macro: On July 3, the S&P 500 index rose by 0.83%, closing at 6,279.35 points; the Dow Jones index rose by 0.77%, closing at 44,828.53 points; the Nasdaq index rose by 1.02%, closing at 20,601.10 points. As of July 4, 10:30 AM (UTC+8), the spot price of gold was reported at $3,331 per ounce, with a 24-hour decline of 0.18%.
PENGU Pudgy Penguins (+3.69%, Circulating Market Cap $1.019 billion)
According to Gate's market data, the current price of the PENGU token is $0.016215, up 3.69% in 24 hours. PENGU is the official token of Pudgy Penguins. Pudgy Penguins has one of the most influential communities in the industry. From large companies adopting penguin imagery to the widespread dissemination of ETF advertisements, Pudgy has become a cultural phenomenon. PENGU, as the exclusive token of the Pudgy Penguins community, provides opportunities for the expanding fan base to participate in community governance, share creations, and enjoy exclusive benefits. PENGU represents community, creativity, and a positive atmosphere.
The core driving force behind PENGU's recent strong rise mainly comes from market expectations regarding potential exchange-traded fund (ETF) developments. Since the beginning of July, the trend has shown a gradual upward movement amidst fluctuations, especially between July 2 and 3, when the price significantly surged multiple times, breaking through key resistance levels of 0.0155 USDT and 0.0160 USDT. At the same time, the accompanying increase in trading volume further confirmed the active involvement of bullish funds and bullish sentiment.
SUI Sui (+4.07%, Circulating Market Cap $10.396 billion)
According to Gate's market data, the current price of the SUI token is $3.0152, up approximately 4.07% in 24 hours. Sui is a high-performance, scalable Layer 1 blockchain based on the Move language, dedicated to addressing pain points such as high transaction fees, network congestion, and scalability, providing a solid infrastructure for dApps and Web3 technologies. Its native token SUI is primarily used for paying transaction fees, launching smart contracts, and participating in governance.
SUI's recent strong rise is driven by two main factors: first, the developer community in the ecosystem has grown by 16.1% over the past year, second only to Solana, demonstrating strong vitality; second, the collaboration with SEGA and the legendary "Peter Pan" series to launch a new card game has boosted market enthusiasm. Additionally, the Scallop (SCA) token within the ecosystem surged over 40% two days ago, further boosting confidence. From a technical perspective, SUI broke through resistance levels of 2.80 and 2.90 USDT and stood above 3.00 USDT. If it subsequently breaks through 3.10 USDT with increased volume, it is expected to continue its upward trend.
BONK Bonk (+2.74%, Circulating Market Cap $1.332 billion)
According to Gate's market data, the current price of the BONK token is $0.000017068, up approximately 2.74% in 24 hours. BONK is a dog-themed meme token built on the Solana blockchain, aimed at introducing liquidity to the Solana ecosystem and promoting community interaction and rewards through diverse applications. Since its launch in December 2022, it has become one of the most representative community tokens on the Solana chain.
On July 2, Tuttle Capital submitted a revised effective application for a 2x Long BONK ETF to the SEC, which may launch as early as July 16, becoming the first leveraged ETF for BONK. Stimulated by this positive news, BONK initiated a significant upward trend that day: the price surged from around 0.00001400 USDT, breaking through multiple resistance levels, and accelerated to above 0.00001700 USDT on July 3. During the upward process, multiple large bullish candlesticks combined with sustained volume increases indicated active buying interest, driving the price strongly upward. This also validated the strong boost of ETF expectations on market sentiment and funding, serving as the core driving force behind this round of increases.
U.S. Senate passes key procedural vote on the "Big and Beautiful" bill
The U.S. Senate narrowly passed a procedural motion to advance the tax reform and spending bill known as the "Big and Beautiful" with 51 votes in favor and 49 against, making it more likely that the bill will be formally passed in the coming days and submitted for presidential signature before July 4. This over 1,000-page bill mainly includes extending the corporate and individual tax cuts from the Trump era in 2017, while adding tax reductions for tips and auto loans; it will also increase the defense budget and strengthen funding support to combat illegal immigration. The bill still needs to go through legislative processes such as reading, debate, amendments, and final voting.
The smooth passage and implementation of this bill may boost the U.S. stock market and the sentiment for risk assets in the short term, as tax cuts can enhance corporate profit expectations and disposable income for residents; at the same time, the deficit expansion brought about by defense and spending provisions may also enhance market optimism regarding liquidity. For the crypto market, this round of increased risk appetite may drive funds back into Bitcoin, Ethereum, and some high-market-cap altcoins; however, in the long term, if this leads to higher inflation or triggers expectations of tighter monetary policy from the Federal Reserve, potential volatility risks still need to be monitored.
Ondo Finance and Pantera Capital plan to launch a $250 million fund to support RWA projects
Ondo Finance is collaborating with Pantera Capital to launch a "Catalyst" investment fund with a scale of up to $250 million, focusing on equity and token projects related to real-world assets on-chain (RWA). As an active player in the RWA space, Ondo's two tokenized U.S. Treasury products, OUSG and USDY, currently have a total market cap of nearly $1.4 billion. Meanwhile, Ondo is also laying out its own dedicated Layer-1 blockchain network, aiming to further enhance the liquidity and infrastructure capabilities of RWA.
The collaboration between Ondo and Pantera marks a shift in capital market attention from single product innovation to underlying ecosystems and long-term strategic investments in the RWA field. The Catalyst fund will not only provide direct funding support for emerging RWA projects but also assist Ondo in building a more complete closed-loop ecosystem for tokenized assets. Combined with Ondo's existing market scale and technological advantages, this initiative may accelerate the on-chain process of traditional financial assets, promoting the evolution of RWA from localized pilots to broader market applications. For the crypto industry, RWA serves as a key bridge connecting on-chain and off-chain worlds, and is expected to catalyze more real funds entering the market in the future, becoming an important driving force for the next round of industry growth.
Owlto promotes cross-chain infrastructure centered around the USD1 stablecoin
The cross-chain protocol Owlto Finance is accelerating the construction of cross-chain infrastructure centered around the USD1 stablecoin, supported by the Trump family. This strategic upgrade includes three main focuses: achieving seamless circulation of USD1 across multiple public chains; supporting users to stake USD1 on any chain and withdraw across chains while earning fees and additional DeFi yields; and once the "GENIUS Act" is passed, USD1 will be positioned as the core settlement asset for cross-chain stablecoin transactions, thereby expanding more application scenarios.
Owlto's move reflects the trend of stablecoin projects expanding from single-chain scenarios to a full-chain ecosystem. By enabling efficient circulation and reuse of USD1 across chains, along with staking yield mechanisms and future legal compliance expectations, Owlto aims to establish USD1 as a universal "stable value anchor" in the cross-chain world. More broadly, this is also an important exploration in the current stablecoin space towards compliance and cross-chain interoperability, helping to enhance on-chain capital efficiency and ecosystem integration, laying the foundation for future multi-chain collaboration.
Related: Can the expansion of corporate Ethereum (ETH) reserves drive the price of Ethereum to $2,800?
Original: “U.S. Senate passes the 'Big Act' | Owlto supports USD1 stablecoin cross-chain infrastructure”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
