ETH falls below the $2950 mark

According to a report by Golden Finance, Cango, a Bitcoin mining company listed on the New York Stock Exchange, announced on X platform that it mined 149.5 bitcoins last week and its total Bitcoin holdings have increased to 4091. As of now, there have been no sales transactions.

According to BlockBeats, on July 11th, various digital currencies and related concepts represented by "stablecoins" have recently attracted market attention. Some illegal institutions and individuals, using gimmicks such as "financial innovation," "blockchain technology," "digital economy," and "digital assets," take advantage of the public's limited understanding of new financial concepts by issuing or speculating on so-called "virtual currencies," "digital assets," "" stablecoin investment projects, "etc., promising high returns and inducing the public to invest funds in trading speculation. This type of activity has significant characteristics of illegal fundraising risks: One is the lack of qualifications. These institutions or individuals do not have the legal qualifications to accept deposits, sell wealth management products, or issue securities to the public without the approval or filing of the financial regulatory department of the State Council in accordance with the law. The second is conceptual packaging. Using emerging and complex concepts such as stablecoins, decentralized finance (DeFi), and Web3.0 for packaging and speculation, intentionally creating information asymmetry and confusing investors. The third is false promises. There is a widespread tendency to exaggerate advertising and make false promises, such as "guaranteed profits", "high fixed income", "guaranteed interest payments", etc., taking advantage of the public's pursuit of high returns. The fourth is the operation of the fund pool. Its operation mode often relies on absorbing funds from new investors to maintain operation or pay the returns of previous investors. Once the funding chain breaks or the project party runs away, investors will face a huge risk of not being able to recover their principal. The fifth is risk spillover. Such activities are prone to evolve into illegal fundraising, financial fraud, pyramid schemes, money laundering, and other criminal activities, seriously disrupting the economic and financial order, infringing on the property safety of the people, and damaging the foundation of social integrity. The Beijing Internet Finance Industry Association solemnly reminds and appeals to consumers: be sure to recognize the essence, be highly alert to any investment project that promises high returns and guaranteed capital and interest, and remember that "high returns are bound to be accompanied by high risks"; Before investing and managing finances, it is necessary to verify the legal qualifications of relevant institutions and products through official channels of the national financial management department, and choose licensed and legitimate financial institutions; Fully understand the high complexity and volatility of digital currencies such as stablecoins and related innovative concepts, and establish correct monetary concepts and rational investment concepts; Consciously resist and stay away from any form of virtual currency speculation, illegal token issuance, and unauthorized "digital asset" investment projects, and effectively protect personal property security. If any illegal fundraising clues are found, please immediately report to the financial regulatory department, public security department, or our association.

White House digital asset policy advisor Bo Hine stated in an article on X platform that an important week is approaching, with July 14th to July 20th being the House's "Crypto Week". The GENIUS bill will be sent to President Trump's desk, and the CLARITY bill will be sent to the Senate. "Crypto Week" will consolidate the United States' role as the global capital of cryptocurrencies.

BlockBeats News, July 12th, Smart Money、 Crypto KOL 0xSun (@ 0xSunNFT) posts an article discussing the participation and trading strategies of pump.fun coin issuance. It is suggested that investors can develop different hedging strategies based on the public offering situation. 0xSun suggests that if the speed of public sales is slow, you can completely choose not to participate. If the progress of participating in the public sale is fast, one can participate in hedging on the premise of leaving sufficient margin, and the risk is the token distribution interval of 24-72 hours after the public sale ends. One situation is when the contract is short and the response is to leave enough margin, which is equivalent to reducing the utilization rate of funds to improve security. The second situation is when spot trading opens before the token can be transferred, and by manipulating the spot price to sell, even if the contract price does not keep up, it will become a negative rate. If individual investors who hedge are not short, they will be tortured by the rate. If they are short, their coins will become naked long, and they will have to bear the risk of currency price fluctuations

OKX-XLM is currently priced at $0.3958, with a 25.29% increase over 24 hours. 24-hour transaction volume of 5.5 billion US dollars, an increase of 598.17%, for reference only