Coinbase Plunges Over 4.33% Amid US Supreme Court Ruling and Ark Sell-Off

On July 2nd, Alucard, the head of the Eclipse community, said on social media that "The official Eclipse airdrop query page is not yet active. Anyone claiming to know the distribution of ES is spreading misleading information. Currently, no one has received confirmation of the airdrop allocation. Users should wait for the official query tool to become available and not believe rumors and FUD easily." Earlier, Alucard stated, "There is no ES airdrop today. All on-chain activities are related to the preliminary preparations for the upcoming eligibility query tool. Please be cautious of scams and misinformation on the X platform. The ES airdrop will need to be claimed through the official redemption website on the Token Generation Event (TGE) day. There will be no TGE today."

On July 2nd, the Echo Protocol officially launched its TGE today. Its token $ECHO has been initially listed on Binance Alpha and will commence trading on Gate, KuCoin, and MEXC on the same day. As a member of the Aptos Foundation's LFM program, Echo is the inaugural Bitcoin liquidity staking and yield protocol within the Aptos ecosystem. Currently, it ranks as the largest protocol within Aptos with a TVL of $8.78 billion. By launching aBTC through Echo, users can tokenize their Bitcoin assets, facilitating liquidity and collateral mobility between Aptos' native DeFi protocols. As of now, the total supply of aBTC has exceeded $285 million, and Echo holds 65% of Bitcoin cross-chain assets on Aptos, playing a crucial role in constructing the Aptos BTCfi ecosystem. The TGE of Echo is a significant milestone in the development of Aptos' BTCfi, marking the broader utilization of Bitcoin assets on Aptos and infusing new growth impetus into the entire ecosystem.

On July 2nd, according to The Data Nerd's monitoring, 8 hours ago, a whale with the address 0x65D withdrew 7,933 AAVE from Binance (approximately $2.01 million). The whale has been holding ETH for more than two years with an average price of around $1,570.

On July 2nd, QCP released its daily market observation, stating that "Institutional demand provides support to Bitcoin, and the US SEC is accelerating the ETF approval process. The liquidity in the cryptocurrency derivative market continues to improve. Solana futures set a new historical high, with a trading volume of 1.75 million contracts on the Chicago Mercantile Exchange (CME). Meanwhile, XRP futures exceeded $500 million in trading volume during its first month of trading. The risk reversals in the Bitcoin options market have slightly rebounded, but the implied volatility still remains near historical lows. The basis and yields still reflect a somewhat subdued market sentiment, and most trading positions are currently inclined towards dip-buying and range-bound strategies." Bitcoin's market dominance rate remains stable at 65%-66%, reaching a multi-year high. Retail investors, OGs, and short-term holders seem to have entered a "summer vacation mode," while institutions are quietl

On July 2nd, Binance Alpha launched the Echo Protocol (ECHO).

On July 2nd, as per Cointelegraph, Standard Chartered Bank is optimistic about the outlook of Bitcoin for the rest of the year. The cause is the growing purchases of Bitcoin by corporate treasury departments and the strong inflows into ETFs. Geoff Kendrick, the Head of Digital Assets Research at Standard Chartered Bank, stated that "Bitcoin is anticipated to reach a new high of $135,000 by the end of the third quarter and exceed $200,000 by the end of the year." Kendrick further added that "Due to the increasing investor inflows, we think Bitcoin has deviated from the previous dynamic of an 18-month price decline following the halving." The bank predicts that the price of Bitcoin will reach $500,000 by 2028.