[13 Institutions Hold 8.277 Million SOL, Accounting for 1.44% of Supply] According to data from Strategic SOL Reserve, 13 institutions currently hold a total of 8.277 million SOL, accounting for 1.44% of the total supply. Among these, 585,000 SOL are staked, valued at $104.1 million, with a staking yield of 6.86%. The top five institutions by holdings are: Sharps Technology (2.14 million SOL), Upexi (2 million SOL, up 15.3% in the past 30 days), DeFi Development Corp (1.42 million SOL, up 5.2%), Mercurity Fintech (1.083 million SOL), and iSpecimen Inc (1 million SOL, up 12.4%).

[Guotai Junan International Launches Cryptocurrency Trading Service] Guotai Junan International has announced the launch of its cryptocurrency trading service, supporting retail investors in trading at least 5 cryptocurrencies, including Bitcoin and Ethereum. Professional investors can also trade stablecoins such as Ripple and Tether. This June, the company received approval to upgrade its securities trading license, enabling it to offer virtual asset trading services.

OKX-ETH/USDT is currently trading at $459.99, with a 5-minute increase of 0.25%. Please be aware of market fluctuations.

[Deribit Executive: Altcoin Season Has Not Arrived, Market Lacks Trading Volume and Growth Momentum] Deribit Chief Commercial Officer Jean-David Péquignot stated that despite positive signals from macroeconomic factors such as China's economic stimulus policies and the potential for Federal Reserve rate cuts, the altcoin market has not yet entered a full growth phase. He noted that accommodative central bank policies could increase market liquidity and attract speculative funds, but the current market still lacks sufficient trading volume and broad growth momentum. Additionally, according to CoinMarketCap's Altcoin Season Index data, the index currently stands at 44, far below the critical level of 75, indicating that the overall performance of altcoins remains weak. Bitcoin's market dominance remains at 58%, continuing to hold the central position in the crypto market. Although Ethereum's recent price has risen relative to Bitcoin, it is still insufficient to trigger the start of an altcoin season.

[Silicon Valley Law Firm Fenwick & West Denies Involvement in FTX Collapse] According to Jinse Finance, the well-known Silicon Valley law firm Fenwick & West has officially refuted allegations that it played a key role in the collapse of cryptocurrency exchange FTX. In a court filing, the firm argued that its involvement was limited to providing routine legal services, and the accusations (claiming it promoted FTX tokens and designed questionable founder loan schemes) are both unfounded and misleading. The document also criticized the amended class-action lawsuit for rehashing claims that had previously been dismissed and compared these allegations to similar accusations made against the law firm Sullivan & Cromwell.