Key Points

• The total market capitalization of global cryptocurrencies is $3.89 trillion, up from $3.45 trillion last week, representing a 12.75% increase this week. As of the time of writing, the cumulative net inflow of the U.S. Bitcoin spot ETF is approximately $52.36 billion, with a net inflow of $2.72 billion this week; the cumulative net inflow of the U.S. Ethereum spot ETF is approximately $5.31 billion, with a net inflow of $907 million this week.

• The total market capitalization of stablecoins is $253.4 billion, with USDT's market cap at $159.5 billion, accounting for 62.94% of the total stablecoin market cap; followed by USDC with a market cap of $63.6 billion, accounting for 25.09%; and DAI with a market cap of $5.36 billion, accounting for 2.12%.

• According to DeFiLlama, the total TVL of DeFi this week is $127.2 billion, up from $116.4 billion last week, an increase of approximately 9.28%. By public chain, the top three chains by TVL are Ethereum, accounting for 57.23%; Solana, accounting for 7.21%; and Bitcoin, accounting for 5.56%.

• On-chain data shows that the overall activity of mainstream public chains has increased this week, with Ton chain's daily transaction volume surging by 210%, the most notable performance; Ethereum, Solana, and Sui increased by 74.78%, 76.51%, and 80% respectively, while Aptos and BNB had relatively limited increases. In terms of transaction fees, Sui rose by 50%, Ethereum doubled, and other chains had little change. In terms of daily active addresses, Ethereum and Aptos grew by 9.61% and 11.47% respectively, while Sui fell by 31.14%; in terms of TVL, only Aptos saw a slight decline (-3.47%), while other chains saw slight increases, with Ethereum and Sui growing by 11.19% and 12.24% respectively.

• New project focus: KOR Protocol is an IP infrastructure protocol focused on entertainment content, aimed at helping creators manage, distribute, and monetize their intellectual property on-chain. BridgePort is a middleware infrastructure designed for institutional-level crypto trading, focusing on the on-chain automation of credit allocation and settlement processes. NEXBRIDGE is a project based on El Salvador's compliance framework, issuing regulated digital assets on Bitcoin Layer 2 (Liquid Network), dedicated to connecting traditional finance with on-chain markets.

Table of Contents

Key Points

Table of Contents

I. Market Overview

1. Total cryptocurrency market capitalization/Bitcoin market cap ratio

2. Fear Index

3. ETF inflow and outflow data

4. ETH/BTC and ETH/USD exchange rates

5. Decentralized Finance (DeFi)

6. On-chain data

7. Stablecoin market cap and issuance situation

II. This Week's Hot Money Trends

1. Top five VC coins and Meme coins by increase this week

2. New project insights

III. Industry News

1. Major industry events this week

2. Major events happening next week

3. Important investments and financing from last week

IV. Reference Links

I. Market Overview

1. Total Cryptocurrency Market Capitalization/Bitcoin Market Cap Ratio

The total market capitalization of global cryptocurrencies is $3.89 trillion, up from $3.45 trillion last week, representing a 12.75% increase this week.

Data Source: cryptorank

Data as of July 13, 2025

As of the time of writing, the market cap of Bitcoin is $2.36 trillion, accounting for 60.6% of the total cryptocurrency market cap. Meanwhile, the market cap of stablecoins is $253.4 billion, accounting for 6.51% of the total cryptocurrency market cap.

Data Source: coingeck

Data as of July 13, 2025

2. Fear Index

The cryptocurrency fear index is 75, indicating greed.

Data Source: coinglass

Data as of July 13, 2025

3. Inflow and Outflow Data

As of the time of writing, the cumulative net inflow of the U.S. Bitcoin spot ETF is approximately $52.36 billion, with a net inflow of $2.72 billion this week; the cumulative net inflow of the U.S. Ethereum spot ETF is approximately $5.31 billion, with a net inflow of $907 million this week.

Data Source: sosovalue

Data as of July 13, 2025

4. ETH/BTC and ETH/USD Exchange Rates

ETHUSD: Current price $2,969.58, all-time high $4,878.26, down approximately 39.08% from the all-time high

ETHBTC: Currently at 0.024950, all-time high 0.1238

Data Source: ratiogang

Data as of July 13, 2025

5. Decentralized Finance (DeFi)

According to DeFiLlama, the total TVL of DeFi this week is $127.2 billion, up from $116.4 billion last week, an increase of approximately 9.28%.

Data Source: defillama

Data as of July 13, 2025

By public chain, the top three chains by TVL are Ethereum, accounting for 57.23%; Solana, accounting for 7.21%; and Bitcoin, accounting for 5.56%.

Data Source: CoinW Research Institute, defillama

Data as of July 13, 2025

6. On-chain Data

Layer 1 Related Data

Mainly analyzing the current Layer 1 data related to daily transaction volume, daily active addresses, and transaction fees, including ETH, SOL, BNB, TON, SUI, and APT.

Data Source: CoinW Research Institute, defillama, Nansen

Data as of July 13, 2025

• Daily Transaction Volume and Transaction Fees: Daily transaction volume and transaction fees are core indicators of public chain activity and user experience. This week, all public chains saw an increase in daily transaction volume, with Ton chain showing the most remarkable performance, increasing by 210%. Ethereum, Solana, and Sui increased by 74.78%, 76.51%, and 80% respectively, while Aptos (+7.06%) and BNB chain (+18.55%) had relatively limited increases. In terms of transaction fees, BNB and TON remained basically flat compared to last week, while Aptos (+2.81%) and Solana (+6.04%) saw slight increases, Sui's increase was significant at 50%, and Ethereum's transaction fees doubled, rising by 100%.

• Daily Active Addresses and TVL: Daily active addresses reflect the ecological participation and user stickiness of public chains, while TVL reflects user trust in the platform. This week, daily active addresses for Ethereum and Aptos grew by 9.61% and 11.47% respectively; Ton remained flat; Sui saw a significant decline, dropping by 31.14%; Solana and BNB saw slight declines of 6.63% and 3.27% respectively. In terms of TVL, only Aptos saw a slight decline (-3.47%), while other public chains achieved increases. Among them, Ethereum and Sui grew by 11.19% and 12.24% respectively, while Solana, BNB, and Ton had smaller increases of 4.98%, 3.84%, and 5.71% respectively.

Layer 2 Related Data

According to L2Beat data, the total TVL of Ethereum Layer 2 is $36.67 billion, an increase of 9.46% from last week ($33.5 billion).

Data Source: L2Beat

Data as of July 13, 2025

Base and Arbitrum occupy the top positions with market shares of 36.78% and 33.78%, respectively, showing an overall increase.

Data Source: footprint
Data as of July 13, 2025

7. Stablecoin Market Cap and Issuance Situation

According to Coinglass data, the total market cap of stablecoins is $253.4 billion, with USDT's market cap at $159.5 billion, accounting for 62.94% of the total stablecoin market cap; followed by USDC with a market cap of $63.6 billion, accounting for 25.09%; and DAI with a market cap of $5.36 billion, accounting for 2.12%.

Data Source: CoinW Research Institute, Coinglass

Data as of July 13, 2025

According to Whale Alert data, this week the USDC Treasury issued a total of 1.373 billion USDC, and the Tether Treasury issued a total of 1 billion USDT this week. The total issuance of stablecoins this week was 2.373 billion, an increase of 16.32% compared to last week's total issuance of 2.04 billion.

Data Source: Whale Alert

Data as of July 13, 2025

II. This Week's Hot Money Trends

1. Top Five VC Coins and Meme Coins by Increase This Week

The top five VC coins by increase over the past week

Data Source: CoinW Research Institute, coinmarketcap

Data as of July 13, 2025

The top five Meme coins by increase over the past week

Data Source: CoinW Research Institute, coinmarketcap

Data as of July 13, 2025

2. New Project Insights

• KOR Protocol is an IP infrastructure protocol focused on entertainment content, aimed at helping creators manage, distribute, and monetize their intellectual property on-chain. By combining AI tools with decentralized applications, KOR Protocol creates a comprehensive on-chain entertainment ecosystem, promoting the deep integration of IP and Web3, and is committed to building the world's largest on-chain IP economic system.

• BridgePort is a middleware infrastructure designed for institutional-level crypto trading, focusing on the on-chain automation of credit allocation and settlement processes. By connecting custodial institutions with exchanges, BridgePort has created an efficient interoperable trading network that supports the secure, real-time flow of assets within the ecosystem, achieving seamless integration and liquidity for institutional trading.

• NEXBRIDGE is a project based on El Salvador's compliance framework, issuing regulated digital assets on Bitcoin Layer 2 (Liquid Network), dedicated to connecting traditional finance with on-chain markets. Its first product is the USTBL stable asset backed by U.S. Treasury bonds, featuring custody, auditing, and redeemable mechanisms. NEXBRIDGE aims to create a secure and transparent Bitcoin-native financial market, facilitating compliant entry of institutional capital.

III. Industry News

1. Major Industry Events This Week

• BOOM launched its TGE and airdrop event on July 8 from 16:00 to 18:00 (UTC+8), with the eligibility snapshot completed on July 6. Eligible users can participate during this period. The planned total airdrop amount is 5% of the total supply (i.e., 50 million BOOM), with 40% distributed on the day of TGE and the remaining 60% released 30 days later.

• Space Nation (OIK) officially launched its TGE and airdrop event on July 8, allowing eligible users to claim 750 OIK tokens each. Additionally, the official team will launch a trading competition, giving participants a chance to share a reward pool of 5 million OIK. Space Nation is a AAA-level space exploration MMORPG, and the OIK token serves as the governance token within the game, used for various activities and transactions.

• Bedrock has confirmed that on July 9, there was a severe liquidity imbalance in the BR/USDT trading pair, causing some traders to experience significant slippage between 10:30 and 12:00 UTC. To compensate affected users, the official announcement on July 10 stated that a special one-time airdrop compensation would be provided to users who traded during this period and experienced slippage, with each wallet eligible for up to 200 USDT equivalent compensation. Users who meet the criteria can claim this compensation through the Bedrock airdrop page.

• On July 9, Hyperion, the largest DEX in the Aptos ecosystem, officially launched its Genesis airdrop plan, distributing 5% of the total supply in the form of RION tokens to users who made genuine contributions in the early stages of the ecosystem, including swap traders, liquidity providers, community task participants, and early Aptos airdrop users. This distribution will be conducted in multiple phases to ensure long-term alignment of incentives and contributions.

• RCADE launched its TGE on July 9, 2025, simultaneously starting an airdrop plan for early interactive users and points participants. This airdrop will be distributed in phases, supporting claims across multiple platforms, and will be based on user interaction data to further promote community activity and growth. The project completed its token presale in early July, with a total issuance of 40 billion tokens and a presale price of approximately 0.00075 USDT.

• On July 12, 2025, Pump.fun officially launched its native token $PUMP's TGE (Token Generation Event), publicly selling a total of 150 billion tokens, accounting for 15% of the total supply, with an issuance price of $0.004, aiming to raise $600 million and achieving a valuation of up to $4 billion. All public and private sale shares will be 100% unlocked on the day of TGE, making it one of the most closely watched meme token issuance events recently.

2. Major Events Happening Next Week

• Sonic announced that the first season airdrop will open at random times between July 15 and 22, allowing eligible users to claim airdrop tokens on the official platform. This airdrop will be distributed in two phases, with 25% of the tokens available for immediate trading, and the remaining 75% gradually released over 270 days through locking and NFT forms, aimed at rewarding early community supporters and promoting ecosystem development.

• Catex (CATX) will hold its TGE event on July 16 at 15:00 UTC, with a total token supply of 100 million tokens, 25% of which will be unlocked on the day of TGE, while the remaining portion will be released in installments over 6, 12, and 24 months in the form of veCATX. The project is currently conducting IDOs through Spores Network (July 11-13) and Fount Launchpad (July 14-16), with an issuance price of $0.10. The project also plans to reserve a large proportion of tokens for community airdrops and incentive programs, focusing on governance participation and user incentives to strengthen community-oriented ecosystem building.

• t3rn (TRN) will launch its IDO from July 14 to 16, 2025, with an issuance price of $0.50 and a total fundraising target of approximately $1.35 million. The sold tokens will be 100% unlocked on the day of TGE. The TGE will take place shortly after the IDO ends, with specific timing to be announced later. Previously, t3rn launched the "BRN Airdrop Plan," encouraging users to obtain BRN tokens through cross-chain transactions and community tasks on the testnet and mainnet, which can be proportionally exchanged for TRN during TGE, with an exchange cap of 5% of the total token supply. Users can verify their airdrop eligibility and check for Sybil risks using the official Airdrop Checker tool.

• Declan Fox, the project lead of Linea, stated on social media on July 12 that the team is ready to fulfill the Linea plan announced in Bangkok and will release a detailed announcement later this month. When community members inquired whether this plan is related to the token generation event (TGE), Declan confirmed with a "Yes," indicating that the TGE is about to launch, marking Linea's transition from the technical infrastructure phase to the token economy and ecological incentive phase, with specific details expected to be announced soon.

3. Important Investments and Financing from Last Week

• Kuru Labs announced the completion of a $11.5 million Series A funding round, led by Paradigm, with participation from angel investors including 0xDesigner, Viktor Bunin, Zagabond, Tristan Yver, Kevin Pang, Will Price, Alex Watts, Jordan Hagan, 3nes, Shreyas Hariharan, Auri, and Joe Takayama. Kuru Labs is a decentralized trading platform deployed on the high-performance Layer 1 blockchain Monad, dedicated to building a full-chain trading infrastructure that integrates order books with automated market-making (AMM) mechanisms. (July 7, 2025)

• Swedish health longevity company H100 Group announced the completion of a total of $10.5 million (approximately 101 million Swedish Krona) in funding to expand its Bitcoin reserve strategy. This round of financing was participated in by Blockstream CEO Adam Back, UTXO Management, and several family offices, with a funding structure that includes 69.65 million Krona in equity financing and 31.35 million Krona in interest-free convertible bonds, which can be converted into shares at 1.75 Krona per share. Since first purchasing Bitcoin on May 22, H100's stock price has increased by nearly 400%. (July 9, 2025)

• Stablecoin startup Agora completed a $50 million Series A funding round, led by Paradigm, with participation from Dragonfly. Agora is launching a stablecoin, AUSD, backed by cash, government bonds, and overnight repurchase agreements, and offers white-label services that allow other institutions to issue their own branded versions of AUSD while sharing its liquidity and interoperability to promote the standardization and expansion of the stablecoin ecosystem. (July 10, 2025)

• U.S. publicly listed company Upexi Inc. (NASDAQ: UPXI) announced the completion of $200 million in financing, including $50 million in common stock and $150 million in convertible notes, led by Big Brain Holdings, with A.G.P. serving as the exclusive private placement agent. Part of this financing will be used to expand existing operations, while more funds will be invested in its Web3 strategic layout, focusing on increasing its Solana assets. The notes are supported by investors staking SOL, and after the financing is completed, Upexi's Solana holdings will increase from 736,000 to approximately 1.65 million, with plans to continue increasing in the future. (July 11, 2025)

IV. Reference Links

1. KOR Protocol: http://korprotocol.io

2. BridgePort: https://www.bridgeportmq.com/

3. Agora: https://www.agora.finance/

4. H100: https://www.h100.group/

5. NEXBRIDGE: https://nexbridge.io/

6. Upexi: https://www.upexi.com/

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