CMC Market Pulse delivers actionable market insights, giving you all the key narratives and developments you need in under 5 minutes.
Market Overview 📉
Bitcoin (BTC) finished the week up 2.55%, while Ethereum (ETH) outperformed significantly, closing the week up 7.42% instead. Total crypto market cap climbed 2.14% to end the week at $3.480T, up from $3.407T.
This week’s liquidations stayed relatively muted on low volatility, with most days seeing less than $250M in liquidations. The majority of the liquidations occurred on the short side, as markets pushed higher over the week. Funding rates in general still remain largely flat, with most majors ranging in the single digit territory, perhaps signalling a lack of interest in the crypto market.
📌 Michael Saylor’s Strategy has acquired 4,980 BTC for $531.9M, bringing their total holdings to 597,325 BTC. - Link
📌 Metaplanet has purchased another 1,005 BTC for $108.1M, bringing their total holdings to 13,350 BTC, surpassing Elon Musk’s Tesla. - Link
📌 The first ever Solana spot ETF with staking by Rex-Osprey, SSK, launches, raking in $33M in volume on their first day. - Link
Why does it matter?
The divergence in the crypto market and traditional market continues this week, with the equities breaking new highs while crypto falters behind. Nevertheless, positive macroeconomic developments, including Trump’s Big Beautiful Bill and the potential of an upcoming rate cut by September, continue to keep both markets up for the week. The S&P 500 is up 2.05% this week, while the Nasdaq is up 1.68%.
Notable altcoin outperformers this week included Pudgy Penguins (PENGU), Useless Coin (USELESS), Plume (PLUME), Neiro (NEIRO) and Bonk (BONK).
Narrative of the Week 📰
Tokenized stocks continue to remain the highlight of the week as key centralized exchanges enter the space with their respective offerings.
📌 Robinhood launches the trading tokenized stocks and private equity on their app, supported by the Arbitrum blockchain. - Link
📌 Tokenized stocks also go live on Solana, with xStocks supporting the launch of the product to Bybit and Kraken customers as well as integrations with DeFi applications including Kamino, Jupiter and more. - Link
📌 Sam Altman’s OpenAI publicly denies any involvement in tokenized equity in the company as launched by Robinhood’s new product, stating that “any transfer of OpenAI equity requires (their) approval”. - Link
Why does it matter?
Tokenized stocks and private equity see renewed interest as the gap between traditional finance and DeFi continues to close with increased mainstream adoption of blockchain technology.
Major Project Updates 🗓️
📌 Ripple is applying for a national bank charter from the OCC, continuing their expansion into traditional finance to remain compliant with banking regulations. - Link
📌 Coinbase acquires token deployment and management platform, Liquifi. - Link
📌 Circle introduces Circle Gateway, a developer service which enables a unified USDC balance for instant cross-chain liquidity. The service will launch in July for Ethereum, Base and Avalanche. - Link
📌 Grass introduces their Android app, allowing Android mobile users to now earn from their unused bandwidth. - Link
📌 Multisig infrastructure, Safe, introduces Harbour, which seeks to move all multisig operations fully on-chain, reducing central points of failure and increasing trustlessness. - Link
Why does it matter?
Compliance remains key to staying relevant in bridging the gap between traditional finance and crypto, with Ripple taking the next step to ensuring compliance in the banking sector.
DeFi Brief 🏦
📌 Solana DEX aggregator, Jupiter Exchange, introduces Jupiter Studio, a token launchpad enabled with full customization, from custom mint options, initial and graduation market caps, and vesting conditions. - Link
📌 Perpetuals DEX, GMX, expands to Bitcoin L2, Botanix, enabling Bitcoin-native leverage trading with trades collateralized and settled in BTC. - Link
📌 Lending market, Dolomite, expands to Ethereum, also being the first money market protocol to support World Liberty Financial stablecoin, UDS1, as collateral. - Link
Why does it matter?
The launchpad scene continues to heat up with Solana heavyweight, Jupiter Exchange, now out with their own token launchpad.
Meme Coins 🚀
📌 Memecoin trading platform, Moonshot, launches Moonshot Create, enabling anyone to launch a memecoin via Apple Pay. - Link
Fundraises 💰
📌 AI-driven data DePIN, Datagram Network, raises $4M in a pre-seed round led by Avalanche’s Blizzard Fund, with support from Animoca Brands, DePIN X, Amber Group and more. - Link
📌 Predictions market, Limitless, raises $4M in a strategic funding round, with investors including Coinbase Ventures, Maelstrom Fund, Collider Ventures, and more. - Link
📌 Solana stablecoin infrastructure project, Perena, closed a funding round from Echo, Native Crypto and Hermeneutic, with support from angels from Backpack, Wormhole, Meteora and more. - Link
Airdrops Abound 🎁
📌 Drift Protocol’s DRIFT airdrop as part of their FUEL program is now open for claims, with the airdrop claimable until 14 November 2025. - Link
Tweet of the Week 📝
Source: @0xMert_
Swapping directly from FARTCOIN to the S&P 500? What a time to be alive!
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