Daily Summary of the crypto world: TON AppChain collaborates with Polygon to launch TON L2; Singer Doja Cat's X account used by Hacker to promote scam coins; Meme Coin promoted by Messi surges 350% in price

First look at the trading activity of BTC ETF. According to Farside Investor data, on July 9th, Grayscale BTCSpot ETF (GBTC) saw a outflow of 37.5 million USD; at the same time, Fidelity BTCSpot ETF (FBTC) saw an inflow of 91 million USD, Bitwise BTCSpot ETF (BITB) saw an outflow of 4.7 million USD, and ARK 21Shares BTCSpot ETF (ARKB) saw an inflow of 43.3 million USD.

Recently, the pullback of BTC and ETH has been significant, however, institutional longs have already submitted the ETH Spot ETF S-1 form, and the S-1 document for the ETH Spot ETF may be approved by the SEC in July, very likely next week.

TON AppChain and Polygon collaborate to launch the brand new TON L2

TON AppChain (TAC) and Polygon Labs announced the integration of Ethereum Virtual Machine (EVM) functionality into the TON ecosystem. Through this collaboration, TON L2 integrates Polygon CDK and the interoperability protocol Agglayer, enabling EVM-compatible decentralized applications (DApps) to run on TAC.

This move aims to expand the application scope of the TON network, covering Decentralization Finance (DeFi), gaming, and identity solutions in long areas. TAC CEO Pavel Altukhov stated in an interview with Cointelegraph that EVM compatibility will break down barriers to using the TON network, and is expected to spark strong interest in Decentralized Finance and GameFi applications.

Currently, there are no EVM-compatible applications on the TON network. The bridging process is complex and expensive, and only native encryption users can use it smoothly. In addition, TON recently integrated USDT and launched a Tap-to-Earn application called Notcoin, which has driven the number of active on-chain wallets on Telegram to rise to 5.8 million per month.

Through applications such as Wallet on Telegram, EVM-compatible integration will allow Ethereum developers to reach a large number of users on Telegram, enabling more real-world encryption applications. For example, Decentralized Finance applications, games, and decentralized identity solutions.

According to blockchain analysis firm Messari, the number of daily active addresses on the TON network surpassed Ethereum in June 2024. However, with the rapid development of the TON ecosystem, phishing attacks have also increased. On June 24th, SlowMist founder Yu Xian warned that the Telegram ecosystem is 'too free', and phishing links are being spread through the platform's message groups, airdrops, and other deceptive means.

Singer Doja Cat's X account was attacked by a Hacker and used to promote scam coins

Singer and rapper Doja Cat warned on July 8th that her X account with 5.6 million followers was attacked by a hacker, who used it to promote the DOJA Token based on Solana. The hacker posted a message on her account saying "Buy $DOJA or else" and attached the Solana contract address of the Token.

Doja Cat later clarified to her 24 million fans on her Instagram that these misleading X messages did not come from her. According to the celebrity news account Daily Trends, Doja Cat's X account was attacked by a Hacker on July 8th and used to promote a fraudulent Token bearing the name of the rapper. In addition, the celebrity news website Daily Mail also reported that Doja Cat's account was used by a Hacker to post negative posts about the rapper Iggy Azalea.

The fraudulent Token "Doja Cat (DOJA)" reached a market cap of 1.65 million dollars after being promoted on stolen accounts, but then quickly plummeted to 16,820 dollars, causing investors to lose over 1.63 million dollars. According to DEXScreener data, the price of the token skyrocketed to 0.001656 dollars within the first hour of its launch, but then experienced a big dump. As of the time of this article's publication, the token is priced at 0.00001682 dollars, with a market cap of only 16,820 dollars.

Messi promotes Meme Coin on Instagram, which surges 350% in price

Football legend Lionel Messi promoted the meme coin WATER based on Solana on his Instagram, causing the token price to skyrocket by 350% in just two hours. Messi shared a picture of the token's mascot and included a link to the project's Instagram page. After the post was published, the price of WATER jumped from $0.00032 to $0.00146.

According to CoinMarketCap's data, WATER subsequently fell back, with a price slightly above $0.001 at the time of writing this article, pumping 215.6% in the past 24 hours. The Token has a Market Cap of about $94 million and a 24-hour volume slightly below $40 million. The project's website claims that WATER aims to have a positive impact on the real world through charity, but does not provide detailed information on the specific implementation method.

Messi's move has sparked criticism from the cryptocurrency community. Some commentators pointed out that the Leafty and Planet projects he previously promoted have both had issues, with the former canceling liquidity just five days after promotion, and the latter losing 90% of its value since promotion.

Market Analysis: BTC Rebound high-level oscillation, market sentiment still in fear

Market Trend

BTC

• Current price: around $57,700, Rebound high-level shock, consolidation
• Market Update: BTC Spot ETF continues to see large inflows, indicating strong demand from institutional investors.

ETH

• Current price: Above $3,050, the trend is relatively strong, with continuous Rebound
• Factors affecting: ETH Spot ETF may be approved next Monday

AltCoin

• Trend: Mixed, Meme coin zone performs better, indicating a preference for speculative funds

Market Indicators

• AHR999 Index : 0.71 (suitable for Auto-Invest)
• Fear & Greed Index: 28 (Market sentiment remains fearful)

Macroeconomics

• US stock market trends: mixed, market sentiment is more cautious
• Fed Interest Rate Decision: The probability of maintaining the Interest Rate unchanged in August is 95.3%, indicating a relatively stable market expectation for the Fed's policy.

Market Hotspots

1. ETH Domain Name System (ENS)
2. Price Fluctuation: ENS reached $34 at one point yesterday, with an intraday fluctuation of over 30%.
3. Market Performance: It has shown strong performance in this round of market, significantly outperforming other Ethereum ecosystem tokens.
4. Influencing Factors: It has been blessed multiple times by Vitalik Buterin, the founder of Ethereum, and was launched on the Korean exchange yesterday.
5. Meme zone
   1. Main cryptocurrencies: POPCAT, MOG, BONK, BRETT, etc. pump
6. Market Dynamics: The Solana chain continues to hype up cat meme coins. The Bonk community has submitted a proposal to burn a large amount of BONK, which may further drive up the price.
7. Privacy Coinzone
8. Main cryptocurrencies: ZEN, ZEC
9. Price trend: pump over 10% intra-day

Summary

The current market is showing a complex situation, with strong rebounds of BTC and Ethereum providing some support to the market, but the overall market sentiment remains fearful. Meme coins have performed well, indicating a preference for specific zones in the market. The macroeconomic environment is relatively stable, with clear expectations for Federal Reserve policies, which help stabilize the market in the short term.

Macro: Expectations of interest rate cuts boost, S&P 500 and Nasdaq hit new highs, Asian stock markets fall

On July 9, Federal Reserve Chairman Jerome Powell told lawmakers that 'favorable' economic data would support the case for rate cuts, driving the S&P 500 and Nasdaq to record closing highs.

Among the three major indices, the S&P 500 index pumped 0.07%, the Nasdaq index pumped 0.14%, and the Dow Jones index fell by 0.13%. This is the sixth consecutive time that the Nasdaq index has set a new closing high, and the fifth consecutive time that the S&P 500 index has set a new closing high, offsetting the uncertainty of the Fed's interest rate cuts with the optimistic sentiment of the American business community towards artificial intelligence rise.

In the large-cap stock market, the stock price of AI chip manufacturer Nvidia pumped 2.5%, offsetting the decline of other chip stocks. Microsoft's stock price fell 1.4%, TSL's stock price pumped 3.7%.

Powell expressed greater confidence in the decline in inflation but did not disclose the specific timing of the rate cut later this year. He mentioned during his testimony to Congress that although the inflation rate is still above the target of 2%, there has been some improvement in recent months, and 'more long良好数据' will strengthen the case for a rate cut.

On July 10, Asian stock markets opened slightly lower on Wednesday. The MSCI Asia-Pacific Index fell 0.27% in early trading, losing some momentum after surging to a two-year high at the beginning of the week. The Nikkei index rose 0.08% due to the weakening of the yen.

On the currency market, the US dollar remains stable, with the pound trading at 1.2787 US dollars and the euro falling 0.01% to 1.0813 US dollars. The New Zealand dollar has risen 0.05% to 0.6128 US dollars, and the Reserve Bank of New Zealand (RBNZ) will announce the Interest Rate decision later in the day. The market expects the RBNZ to maintain a hawkish stance and anticipates only one interest rate cut before the end of the year.

On the commodity front, an industry report showed a decrease in US crude oil and fuel inventories last week, indicating stable demand. Coupled with improved rate cut prospects, oil prices rebounded after three consecutive days of decline. Brent crude oil futures pumped 0.24% to $84.86 per barrel, while US West Texas Intermediate (WTI) crude oil futures pumped 0.29% to $81.65 per barrel.

The gold price pumped 0.07% to $2,365.09 per ounce.

Author: Sherry S. & Icing. This article only represents the author's opinion and does not constitute any trading advice. This article is original and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibility will be pursued.