- Major cryptocurrencies experienced a dip following U.S. tariff updates but later recovered.
- ETH showed stronger performance than other cryptocurrencies, while altcoins weakened after PumpFun announced a major token sale plan.
- PumpFun will hold a $600 million token sale with a $4 billion company valuation.
- The U.S. government completed large transactions involving ETH, and various companies made significant Bitcoin-related moves.
- Several major institutions, including Robinhood and BBVA, expanded their crypto offerings for investors.
Cryptocurrency prices fell after the release of U.S. tariff updates but later rebounded. ETH outperformed the rest of the market, while many altcoins declined after PumpFun revealed plans for a large-scale token sale. PumpFun plans to sell $600 million in tokens, giving the company a $4 billion valuation.
The Trump administration announced that a government crypto report will be published on July 22. The U.S. government also deposited $218,000 worth of ETH to Coinbase. Meanwhile, Robinhood is in talks with U.S. officials to launch tokenized stock trading, which turns traditional shares into blockchain-based tokens.
Truth Social has applied to create an ETF (exchange-traded fund) focused on large-cap cryptocurrencies. The U.S. government dropped its appeal in the Tornado Cash lawsuit. A strategy emerged to raise $4.2 billion in equity for Bitcoin purchases, and Semler Scientific acquired $20 million in Bitcoin for its treasury.
Bit Digital shifted its treasury strategy to focus on ETH, causing its stock price to surge. The value of tokenized assets (traditional investments represented on blockchain) on ETH reached $5 billion. Metaplanet announced it would use Bitcoin as collateral in upcoming mergers and acquisitions.
The CEO of XRP will testify before the U.S. Senate on upcoming crypto legislation. The U.S. Securities and Exchange Commission requested firms to revise their SOL ETF applications. Crypto-related stocks in Hong Kong rose due to growth in stablecoin adoption. BBVA enabled Bitcoin and ETH trading for retail clients in Spain.
Finally, El salvador’s government bought $800,000 of Bitcoin in the past week.
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