Monday Morning Blockchain
21st July 2025
Market Overview
The cryptocurrency market surged this week, buoyed by a wave of positive regulatory developments in the U.S. Amidst rising institutional interest and US crypto-friendly policy moves, the global market cap now stands around $3.95 trillion, down slightly (~0.4%) over the past 24 hours
Top Cryptocurrencies Performance
Bitcoin (BTC): $119,332 – up 0.95%
Ethereum (ETH): $3,806.82 – up 3.3%
Binance Coin (BNB): $716.40 – up 1.1%
XRP: $2.22 – up 1.9%
Cardano (ADA): $0.791 – up 2.4%
Solana (SOL): $181.77 – up 3.8%
Dogecoin (DOGE): $0.224 – up 1.2%
Polkadot (DOT): $4.47 – up 2.1%
Polygon (MATIC): $0.278 – up 1.6%
Litecoin (LTC): $104.89 – up 2.5%
Notable Events Impacting the Market
1. U.S. Passes Landmark Crypto Legislation
President Trump signed the GENIUS Act into law on July 18, establishing the first stablecoin regulatory framework in the U.S. The House also passed the Clarity Act and Anti-CBDC Surveillance State Act, collectively marking a historic “Crypto Week.”
2. Bitcoin Rallies on Institutional Momentum
MicroStrategy (now “Strategy”) added $472 million in BTC, pushing its total holdings to $71 billion. ETF inflows also remain strong, supporting price resilience.
3. Market Cap Peaks Near $4 Trillion
Fueled by ETH’s 6.8% weekly gain and strong altcoin performance, the total crypto market cap touched $3.95 trillion midweek — its highest point since March.
4. Major Exchange Hacks Underscore Ongoing Risk
BigONE lost $27 million to a wallet vulnerability exploit. India’s CoinDCX was also targeted in a ₹368 crore breach. Both exchanges pledged to reimburse affected users.
5. UK Stablecoin Legislation Trails U.S.
While the U.S. accelerates adoption, the UK remains stuck in regulatory consultations — risking its position as a crypto hub.
6. Bitcoin-Backed Home Loans Launch in Australia
Fintech lender Block Earner introduced BTC-collateralized home loans, a first for the region, allowing holders to unlock liquidity without selling.
Investor Sentiment
The Fear & Greed Index sits at 67 (Greed), reflecting strong investor confidence.
Ethereum saw a 24-hour volume spike of over 30%, showing momentum rotating into altcoins.
Analysts are watching closely for implementation details around U.S. crypto bills and Q3 macroeconomic signals.
Conclusion
The combination of clear regulatory milestones in the U.S., strong institutional participation, and continued innovation (from tokenized loans to ETF growth) points to a maturing, confident market. While volatility remains a constant, crypto is firmly back in the global financial conversation — with U.S. policy now shaping the narrative.
This Week in Crypto: Major Stories
CoinDCX Hit by $44M Hack – User Funds Safe
CoinDCX suffered a $44 million breach in an internal operations account but assured that no customer assets were affected, pledging to reimburse losses from its treasury reserves US News+1Barron's+1Maharashtra Times+14Cointelegraph+14CoinGape+14CoinGape+2AInvest+2The Times of India+2.BigONE Loses $27M in Sophisticated Supply‑Chain Attack
Singapore’s BigONE exchange was hit by a $27 million hack targeting its hot wallets. It promises full compensation, engaging SlowMist to secure recovery AInvest+4CryptoNinjas+4AInvest+4AInvest+2Tom's Hardware+2Web3 is Going Great+2.Bybit, BigONE & CoinDCX Enough Cause – $1.5B Lost This July
Exchange breaches—including Bybit’s $1.5 billion loss—total over $1.5 billion stolen in July, underlining persistent vulnerabilities in hot wallet security Fortune+15AInvest+15AInvest+15Tom's Hardware.U.S. House Passes Historic “Crypto Week” Legislation
The House cleared the Clarity Act, Anti-CBDC Surveillance State Act, and GENIUS Act, a milestone for U.S. regulatory clarity—though implementation rules will take time Barron's+1Wikipedia+1.SEC Issues Crypto ETF Guidance – Altcoin Playbooks Emerge
The SEC published updated disclosure rules for crypto ETFs, paving the way for upcoming altcoin-linked ETFs (e.g., Solana, XRP) and simplifying application processes AInvest+15Reuters+15FinTech Weekly - Home Page+15The Economic Times.21Shares Files for Non-Bitcoin ETF with U.S. SEC
Asset manager 21Shares teamed up with Teucrium to propose two new U.S. ETFs—one excluding Bitcoin—expanding crypto fund diversity Wikipedia+8Mitrade+8CTVNews+8.Trump Media Preps ‘Blue‑Chip’ Crypto ETF
Trump Media submitted an SEC filing for a meme-coin-oriented “crypto blue-chip” ETF tied to five major cryptocurrencies MarketWatchUS News+1CTVNews+1.Coinbase Launches Bermuda-Based L2 & Futures Platform
Coinbase launched an Ethereum L2 using OP Stack and unveiled a Bermuda derivatives exchange, while its SEC lawsuit was dismissed in mid-2025 Wikipedia.Circle’s USDC & Coinbase’s Liquifi Acquisition Highlight Growth
Circle’s USDC stablecoin remains flat in market cap as the company garners attention, while Coinbase acquired token-launch platform Liquifi Maharashtra Times+15axios.com+15IDN Financials+15.OECD CARF Mandate Coming in 2026
The OECD’s Crypto‑Asset Reporting Framework (CARF) will require global CASPs to provide tax-residency and transaction info by 2026 — a significant step toward international compliance.
Meme of the Week
