Crypto Highlights July 30: Volatility Returns

1. Market Reverses – Red Dominates After a Day of Gains
After a day of gains, the crypto market turned slightly downward, possibly influenced by the sharp decline in U.S. crypto-related stocks. Leading Ethereum reserve-based projects like BMNR and SBET dropped over 8%. Investors are advised to closely monitor market sentiment.

2. Ethereum Turns 10 – From $0.30 to $3,800
Ethereum officially marks its 10th anniversary. From an initial price of just $0.30, it has peaked at $3,800 and is now among the top 28 global assets. To celebrate, Ethereum released a special commemorative NFT for free to the community.

3. ZORA Surges – Nearing All-Time High
ZORA’s price reached $0.09, close to its all-time high. Over 50,000 tokens have been created on the Zora Coins platform for two consecutive days, making it the largest launchpad on the network at present.

4. Chinese Projects Spike Then Dip
Chinese-based projects CFX and CKB saw a rapid surge followed by quick corrections, possibly due to news that Hong Kong will enforce stablecoin issuer regulations starting August 1. Investors should be cautious of speculative capital driven by policy expectations.

5. Hyperliquid Incident – HYPE Slightly Down
A system glitch on the Hyperliquid exchange affected its order engine, leading to a minor dip in HYPE, which closed at $42.4. The token has been on a slight downward correction recently.

6. PUMP Injects 12,000 SOL into Buyback Address
The Pumpfun project transferred 12,000 SOL to its buyback address. PUMP’s market cap currently stands at $2.78 billion. Some analysts suggest the project is attempting to “anchor” the price and avoid sharp drops.

7. Linea Unveils Tokenomics – 9% Airdrop to Early Users
Layer2 project Linea released its tokenomics model with a total supply of approximately 7.2 billion tokens, 9% of which will be airdropped to early users. ETH will be used as the gas fee on the network.

8. US SEC Approves Real-World Redemption for Bitcoin & Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has approved a real-world redemption mechanism for Bitcoin and Ethereum ETFs. While this is a positive sign, the market has not reacted significantly.

9. US-China Extend Tariff Truce
The world’s two largest economies agreed to extend their tariff ceasefire, avoiding punitive tariffs of up to 145% before August 12. This move could help stabilize global financial market sentiment.

10. Orca to Launch Its Own Launchpad
Orca is expected to roll out its own Launchpad by late July or early August. ORCA token price remains stable, with a market cap of $183 million.

11. Sideways Market – Investors Stay Cautious
The market is in a tug-of-war phase, showing signs of correction. Major crypto assets are seeing outflows, selling pressure is increasing, and short-term volatility is frequent. Most investors are opting for a defensive strategy, waiting for key support levels to be confirmed.