- Bitcoin climbs to $65,229 as total crypto market cap rises to $2.23 trillion.
- BitMart shuts down after nine years in business as its BMX token crashes 58%.
- ChangXin Technology’s STAR Market debut surges 419%, setting a turnover record.
Bitcoin traded near $65,229, up 1.11% over the past 24 hours and holding a weekly gain of 0.82%, while Ethereum outperformed with a 3.29% daily gain to trade around $1,944, up 3.75% for the week. XRP held near $1.10, Solana rose to $76.34, and BNB traded above $572.
Total crypto market capitalization stood at $2.23 trillion, up 1.24% over the past day. The Fear & Greed Index climbed to 39, still in “fear” territory but improving, while the Altcoin Season Index held at 53.
The market rebound followed reports that the US and Iran had suspended mutual strikes, lifting sentiment broadly, with the NFT sector up 3% and Bitcoin briefly breaking above $65,000.
Trending Searches
Lorenzo Protocol held roughly flat with a 0.4% daily move, while Geodnet surged 37.1%, and BitMart’s token plunged 51.5% as its exchange shutdown dominated search interest. The mix reflects how a single high-profile collapse can pull search volume even as unrelated tokens post unrelated gains.
BitMart Shuts Down After Nine Years
BitMart announced it will wind down its trading platform after roughly nine years of operation, citing operating conditions, market environment, and strategic direction without specifying a primary cause.
Its BMX token fell as much as 58% following the news. On-chain data showed the exchange’s public asset reserves had already plunged from about $12 million to roughly $2.3 million in the two weeks before the announcement, with current holdings spread thinly across Ethereum, Solana, BSC, Starknet, and Bitcoin. Withdrawals remain technically open, though only 58 wallets withdrew a combined $805,000 over 24 hours, with no requests processed in the most recent eight-hour window.
ChangXin Technology’s Debut Sets Multiple A-Share Records
ChangXin Technology’s Shanghai STAR Market listing surged more than 419% from its IPO price, reaching a market cap of roughly 3.18 trillion yuan and setting a new single-day turnover record of 90.1 billion yuan, surpassing the previous mark set by East Money in 2024.
Fellow memory chipmaker CXMT also listed with an opening market cap near 3.31 trillion yuan, becoming the first A-share tech stock to open above that threshold and topping the STAR Market by valuation.
Nvidia Weighs Massive OpenAI Backing
Nvidia is reportedly negotiating a roughly $250 billion financial guarantee to support OpenAI’s planned 10-gigawatt data center project in southern Ohio, developed with SoftBank. The total project cost, including chip deployment, could exceed $500 billion, potentially making it the largest data center project announced to date, with US and Japanese government involvement in power allocation decisions.
ETF Flows Show a Third Straight Week of BTC and ETH Inflows
Bitcoin spot ETFs recorded $33.79 million in net inflows last week, marking a third consecutive week of gains, led by Grayscale’s Bitcoin Mini Trust at $85.78 million. Ethereum spot ETFs added $104 million over the same period, extending a three-week inflow streak, with BlackRock’s ETHA contributing $96.3 million. XRP and Solana ETFs also posted modest weekly inflows of $8.15 million and $7.2 million respectively, while HYPE spot ETFs saw a $8.6 million outflow.
Security Incidents Add Up
Losses from the Triple-A stablecoin infrastructure hack expanded to $11.8 million, up from an initial $9.3 million estimate. Korean gaming platform WEMIX confirmed its contract ownership was compromised, with attackers minting over 5.2 million unauthorized WEMIX tokens before bridging proceeds to Ethereum and BSC. Cross-chain bridge Garden also disclosed an HTLC exploit resulting in roughly $450,000 in stolen USDT across multiple chains, prompting a temporary application shutdown.
Regulatory Developments
South Korea’s customs service reported detecting roughly $4.92 billion in illegal foreign exchange transactions in the first half of the year, including cases where export firms collected payments in cryptocurrency to avoid repatriating earnings.
Separately, the US CFTC issued new guidance warning Kalshi, Coinbase, Polymarket, and Crypto.com against relying on template-style bulk filings for event contract certifications, demanding more specific compliance detail per contract type.
Related: Polymarket Cuts US-Iran Ceasefire Odds as Fresh Strike Risks Rattle Crypto Markets
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