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On-chain analyst Tom Wan claimed on X that Ethena (ENA) holds nearly half of the total USDG supply on Robinhood Chain. He explained that Ethena holds $50 million worth of USDG on the chain itself, plus another $50 million in a joint Ethena and Steakhouse USDG vault. Wan also noted that the total market capitalization of stablecoins on Robinhood Chain has surpassed $200 million. Citing a chart from Entropy Advisors, he stated that as of July 7, the figure stood at approximately $239.04 million, comprising $221.33 million in USDG and $17.71 million in USDe.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Hedera (HBAR) starting at 10:00 a.m. UTC on July 8 to support a network upgrade.

The Spot Cumulative Volume Delta (CVD) chart analyzes the order book for the BTC/USDT spot pair. The upper section shows a Volume Heatmap, while the lower section displays the CVD. - The Volume Heatmap at the top tracks the scale of trading volume at specific price levels. The background color brightens when the price remains in a particular range for an extended period or experiences a significant move. Brighter-colored areas are likely to act as support or resistance. - The CVD indicator at the bottom represents buy and sell orders categorized by the size of the funds involved. As buy orders increase, the line for the corresponding color rises. For example, the yellow line represents orders between $100 and $1,000, while the brown line indicates large orders between $1 million and $10 million.

Peter Schiff, CEO of Euro Pacific Capital and a noted Bitcoin critic, has described Strategy's (Nasdaq: MSTR) business model as a Ponzi scheme that has now moved from its initial to its middle stage. He contends that the company's practice of using funds from preferred stock sales to accumulate Bitcoin is akin to a scam. Schiff has previously stated that Strategy will eventually face a point where paying dividends on its STRC preferred stock becomes unsustainable. When that time comes, he predicted, Michael Saylor will have to choose between liquidating the company's assets or selling off preferred shareholder equity. Schiff asserted that this structure is destined to collapse.

The number of large transfers worth over $100,000 has surged for cryptocurrencies Litentry (LIT) and Mantle (MNT), BeInCrypto reported, citing on-chain analytics firm Santiment. According to the report, there has been a distinct increase in large whale transfers for both assets over the past six months. During this period, LIT recorded 86 transactions exceeding $100,000, while MNT saw 37. The increased activity in LIT was attributed to a tokenomics revamp, buybacks and burns, and expectations for staking yields. For MNT, the surge was linked to expectations of expansion into real-world assets (RWA) and tokenized stocks. According to CoinMarketCap, LIT is trading at $2.53, up 2.07% over the past 24 hours, while MNT is at $0.4323, down 1.01%.

Binance Co-founder and CEO He Yi announced on X that the exchange has paid over $1.2 billion in interest to stablecoin depositors through its Binance Earn product since 2022. She added that the value returned to users is important, stating that helping them access the market and utilize their assets is what creates long-term opportunities.

Whale Alert reported that 2,500 million USDT has been burned at the Tether Treasury.

BTCS (Middle East), a subsidiary of the Switzerland-based financial services intermediary Bitcoin Suisse, announced it has obtained a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This license allows BTCS (Middle East) to provide cryptocurrency financial services to institutional and professional investors within the United Arab Emirates (UAE). The company had previously received an In-Principle Approval (IPA) from the FSRA last year.

Binance has announced it will delist five spot trading pairs at 3:00 a.m. UTC on July 10. The affected pairs are GMX/USDC, PARTI/FDUSD, RUNE/BTC, SEI/BTC, and T/USDC.

Coinbase, the largest U.S. cryptocurrency exchange, announced on July 7 that it has obtained an investment services license in the UK compliant with the Markets in Financial Instruments Directive (MiFID). The license allows the company to legally offer derivatives and stock trading in addition to its cryptocurrency services in the country. In its announcement, Coinbase stated that the boundary between crypto and traditional finance is rapidly disappearing and that it decided to expand its investment in the UK because it has a market that justifies the commitment.

Matt Cole, CEO of Bitcoin acquisition firm Strive (Nasdaq: ASST), said in a recent interview with Cointelegraph that the company has no need to sell its Bitcoin holdings, even if the price were to fall to one cent. He emphasized that Strive is entirely debt-free and its BTC holdings are not leveraged or used as collateral, eliminating any risk of liquidation regardless of the price. Cole stated that the price could drop to one cent and remain there for 18 months, and the company would still not need to sell a single BTC.

Binance announced it will end support for PYR and VANRY deposits and withdrawals via the Polygon network at 8:00 a.m. UTC on July 14. Support for the tokens on other networks will continue.

Binance has launched a new product on Binance Earn called "BTC Yield," which allows users to earn additional returns on their BTC without selling it, CoinDesk reported. The product employs a covered call strategy, selling call options against deposited BTC to generate income from option premiums. Users who deposit BTC receive BTCY, a token representing their stake. The yield is distributed in two ways: a portion of the premiums is converted to BTC and paid to users' spot accounts every Friday, while the remainder is used to increase the value of BTCY relative to BTC. However, Binance charges a 15% fee on the option premiums and does not guarantee the principal or weekly profit distributions. The outlet noted that in a bull market, returns could underperform simply holding spot BTC if the price rises significantly, as the upside is capped when the call options are exercised.

The Bitcoin spot price has remained firm despite Strategy (Nasdaq: MSTR), the largest corporate holder of BTC, announcing yesterday that it sold 3,588 BTC, worth approximately $226 million, according to an analysis by Joao Wedson, founder of crypto analytics firm Alphractal. Wedson noted that this was Strategy's first large-scale BTC sale since 2022. He explained that the amount sold represents only 0.4% of the company's total holdings, and the market appears to be interpreting the move as a liquidity management measure to meet obligations related to preferred stock. However, Wedson warned that repeated or larger sales could become a negative signal for the market. He added that the sale caused the Integrated Market Index in the derivatives market to fall sharply from bullish to bearish territory, indicating a clear contraction in investor sentiment within that sector.

Two Polymarket traders have filed a lawsuit against the platform over its decision on a prediction market regarding Strategy's (MSTR) Bitcoin sales in May, The Block reported. The two plaintiffs filed a complaint in a New York court on July 3, accusing several Polymarket executives of breach of contract and deceptive practices. They had bet "Yes" on whether Strategy would sell BTC by May 31. Although Strategy later disclosed it had sold 32 BTC between May 26 and May 31, Polymarket allegedly added a clause after the bet was placed requiring public confirmation by the deadline. Polymarket ultimately settled the market as "No," reasoning that Strategy's disclosure occurred after May 31. The plaintiffs argue that changing the conditions retroactively violates the platform's core terms and are seeking damages. Polymarket has not commented on the lawsuit.

The B20 token standard is set to be introduced on the mainnet of Base, Coinbase's Ethereum (ETH) Layer 2 network, at 6:00 p.m. UTC on July 8. The upgrade was previously scheduled for June 27 but was postponed due to network stability issues. B20 is a new native token standard that provides a framework for issuing new tokens within the Base ecosystem.

According to CoinGlass data, short positions worth $962.76 million on major centralized exchanges (CEX) are projected to be liquidated if BTC breaks through $65,110. Conversely, a drop below $62,602 would trigger the liquidation of long positions valued at $422.58 million.

South Korea's Korea Customs Service has uncovered 47 money exchange businesses involved in illegal activities, including those handling virtual assets, TV Chosun reported. The businesses were cited for violations such as failing to maintain or falsifying exchange ledgers. The agency has been conducting a focused crackdown since March, targeting 104 of the country's 1,320 money exchange businesses. The targeted businesses were selected based on their location in areas with high concentrations of foreigners and tourists or on suspicion of their involvement in illegal remittances using virtual assets. Cho Han-jin, head of the Foreign Exchange Investigation Division at the Korea Customs Service, stated that illegal virtual asset exchanges are spreading throughout Seoul, including in the Myeong-dong and Gangnam districts. He noted that methods for illegal currency swapping have diversified, now incorporating simple payment services like WeChat Pay and Alipay. Cho added that further investigations will be launched if the funds from these activities are found to be linked to tax evasion, money laundering, or capital flight.

The Bitcoin Coinbase Premium has remained in negative territory for 50 consecutive days, a streak that began on May 19. This extends the all-time record for the longest continuous negative period, surpassing the previous record of 40 days set between Jan. 16 and Feb. 24. The Coinbase Premium reflects the price difference between BTC on Coinbase, the largest crypto exchange in the U.S., and its global market price. Typically, a positive reading suggests capital inflows and demand from the U.S., whereas a negative reading is interpreted as capital outflows and waning demand.

Whale Alert reported that 3,999,999,999 DOGE has been transferred from Binance to an unknown wallet. The transaction is valued at about $300 million.

South Korea's Financial Supervisory Service (FSS) is proceeding with its sanctions process against Bithumb, aiming for a conclusion in the third quarter regarding an incorrect Bitcoin (BTC) payment incident that occurred last February. According to Dailian, an FSS official stated that because sanctions are an invasive administrative action, they require a clear legal basis and procedural legitimacy, and that a review of the relevant laws is currently underway.

A potential interest rate hike in Japan could weigh on Bitcoin's recovery prospects, CoinDesk reported. For years, Japan has played a crucial role in keeping global interest rates low through its ultra-low rate policy and large-scale quantitative easing. This environment fueled the yen carry trade, where investors borrow yen at low cost to invest in higher-yielding assets overseas, indirectly lowering capital borrowing costs in developed nations. However, a recent rise in Japanese government bond yields could now pressure the Bitcoin market. This is because as bond yields increase, the relative investment appeal of non-interest-bearing assets like Bitcoin diminishes. While weakening expectations for a U.S. Federal Reserve rate hike had recently created a positive market sentiment, a rate hike in Japan could reverse this trend. Not all experts share this concern, however. Goldman Sachs anticipates that the yen will continue to weaken despite rising bond yields, suggesting that the yen carry trade remains a viable strategy, the outlet explained.

Bybit announced it will list GROVE for spot trading at 3:00 p.m. UTC on July 7.

An anonymous whale address (starting with 0x907) deposited 1,988 ETH, worth $3.53 million, to Bybit about four hours ago, according to on-chain analyst ai_9684xtpa. The address had purchased 6,000 ETH on Jan. 20 at an average price of $3,178.78. Over the past five months, the position is estimated to be down approximately 44%. If the whale sells the recently deposited tokens, the estimated loss would be $2.785 million.

South Korean crypto exchanges Upbit, Bithumb, and Coinone have announced the designation of Bonk (BONK) for their delisting watchlists.