Preface:
Bitcoin and Ethereum have dropped by 4.08% and 3.42% respectively in the past 24 hours, with the ETH/BTC exchange rate holding at 0.05. The crypto market Fear & Greed Index has fallen to 44, indicating fear..

Recent Spotlight

The best performer recently is WLD, which has surged by 5.7% in the past 24 hours, now priced at $2.37 with a market cap of $610 million. Worldcoin, founded by the creator of OpenAI, is an AI+Web3 project aimed at building the world’s largest and most equitable digital identity and currency system, helping everyone enter the global financial system. Its core is World ID, a privacy-protecting global identity network that allows users to verify their uniqueness online using biometric data and protect privacy with zero-knowledge proofs. The WLD token is designed as a utility token with governance attributes, empowering users by giving them a voice in the protocol’s future. Previously, Worldcoin announced a large token unlock starting on July 24, unlocking 6.62 million WLD tokens daily for 730 days. This news led to a price decline, but today it has rebounded to the $2.3 range, peaking above $2.5.

Check Out the Latest Prices, Charts, and Data of WLD/USDT Spot and WLDUSDT Perp!

The Word on the Street

Bloomberg ETF analyst James Seyffart posted on X (formerly Twitter) that he has seen Bitwise Invest submit another revised S-1 form for their Ethereum ETF. He expects more issuers to submit these forms throughout the week, predicting that a spot Ethereum ETF could be listed late next week or the week of July 15. Another Bloomberg analyst, Eric Balchunas, commented: “No one really knows why the SEC is taking so long to process these forms. Given the lack of comments, listing should happen quickly, but it might be a ‘problematic’ issue slowing things down, or it could simply be due to people being on vacation. That said, all signs point to a listing this month, with more details to be revealed next week.”

Spot Bitcoin ETF Flows

Yesterday, Grayscale’s GBTC saw net outflows of $27 million, while FBTC saw net inflows of $6.5 million. Bitcoin spot ETFs have had net outflows for two consecutive days. Today, Bitcoin’s price plummeted, falling more than 5% intraday and dropping below $59,000. The price drop may be due to Mt. Gox beginning to repay creditors at the start of July, which led to a tenfold increase in the on-chain Bitcoin movement. Additionally, some recent whale activities have brought negative sentiment to the market. An unknown whale sold $180 million worth of Bitcoin in three minutes, a rare occurrence that can shake traders’ confidence. The current BTC market has low volatility and weak trading volume, so when prices move toward the edge of a range, the order book imbalance between buyers and sellers can lead to sudden drops like today’s.

Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Project Financing

Open-source AI platform Sentient has completed an $85 million seed round, the largest disclosed crypto AI project financing this year. Sentient Labs was co-founded in January by Polygon’s Sandeep Nailwal, aiming to build open-source AI models through community contributions to address centralization and ethical issues in the current AI field. Sentient’s strategy focuses on the Open, Monetizable, and Loyal (OML) model, with plans to launch a testnet in the third quarter of this year and develop using Polygon’s technology.