Crypto Pulse-MEW Extends Lock-Up Period to Five Years, Causing Price Surge

Preface:
Bitcoin and Ether have fallen by 1.17% and 0.38% respectively in the past 24 hours, with the ETH/BTC exchange rate holding steady at 0.05. The crypto market Fear & Greed Index has risen to 70, indicating greed.

Spot Bitcoin ETF Flows

Last week, Bitcoin spot ETFs saw a net inflow of $11.975 million, the highest weekly value in the past month. The largest contributions came from BlackRock’s IBIT and Fidelity’s FBTC, with net inflows of $7.06 million and $2.43 million respectively. After Biden, Trump’s biggest opponent and a crypto-friendly candidate, announced his withdrawal, Bitcoin’s price did not rise but instead fell, breaking down to $65,800. Due to concerns about candidate changes and interest rate cut uncertainties, the market experienced a short-term rapid decline. However, after Musk changed his Twitter avatar to the Bitcoin laser eyes, the market was encouraged and quickly rebounded, bringing Bitcoin’s price back to the $68,000 range. Meanwhile, the Chicago Board Options Exchange (Cboe) announced that five Ethereum spot ETFs will be listed on the exchange on July 23, including Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and 21Shares Core Ethereum ETF.

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Daily Spotlight

The best performer recently is MEW, with a 24-hour increase of 31.12%, currently priced at $0.007615, and a market cap reaching $682 million. MEW coin is the native token of “cat in a dog’s world,” representing a bold attempt to disrupt the dominance of dog-themed meme coins by introducing a fresh, cat-centric narrative. The main image of MEW coin is a white cat, active in a world dominated by dogs. The project was launched on the Solana blockchain and has quickly gained attention in the cryptocurrency community. Recently, benefiting from the overall market rise and the active Solana ecosystem, MEW’s community popularity has surged, with the coin price rising from $0.0042 to $0.0074, nearly doubling.

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The Word on the Street

U.S. President Biden announces his withdrawal from the 2024 presidential race. On July 21, Biden posted a letter on his personal social media stating that he had planned to seek re-election but decided to withdraw from the presidential race in the best interest of the Democratic Party and the United States, focusing on completing his presidential duties for the remainder of his term. Biden said he would explain his decision in detail to the nation later this week. After announcing his withdrawal, Biden expressed full support and endorsement for Vice President Harris to receive the Democratic presidential nomination. In response to the news, Trump told CNN: “He has been the worst president in our country’s history.” Trump also commented that he believes Vice President Harris would be easier to defeat than Biden.

Airdrop Tracker

LayerZero Foundation: The temporary list of bounty hunters has been published, and the final distribution will take place on July 23. The allocation is at the discretion of the LayerZero Foundation and may be subject to change. This list should not be considered the final Sybil list or reused as-is.

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