Market Overview: Hot Tokens and On-Chain Memes
On July 1, data from OKX shows the top 24-hour gainers as follows:
- BASED: +29.75%
- AI: +25.19%
- DYDX: +14.22%
- XLM: +10.31%
- XCH: +9.86%
- BIO: +8.72%
- GLM: +7.62%
- ZENT: +6.33%
- OL: +6.01%
- NMR: +5.67%
On-chain hot meme data is not yet updated (source: GMGN). The msx.com 24-hour crypto-stock gainers list is also unavailable.
Macro Policy: Fed Signals Rate Hike, SEC Launches ETF Rule Review
Fed's Hammack stated that the labor market is near full employment with favorable growth prospects, but inflation remains too high, necessitating a possible rate hike. She will approach FOMC meetings with an open mind and will not prejudge outcomes (Jin Shi). The hawkish tone raised concerns about liquidity tightening.
The SEC announced Tuesday it is seeking public comment on how to regulate 'new-type ETFs,' assessing whether existing fund registration and listing processes need adjustments. SEC Chair Paul Atkins said the regulator wants market input to ensure the ETF market continues to serve investors effectively amid growth and innovation. Since Atkins took office in April 2025, the SEC has approved multiple crypto ETFs beyond Bitcoin and Ethereum, including products tracking SOL and DOGE.
Trump Discloses Over $100M in BTC/ETH, $1.4B in 2025 Income
Bitcoin News reported that Trump's latest financial disclosure shows he holds over $100 million in BTC and ETH, with income exceeding $1.4 billion during the 2025 filing period. Documents reveal Trump earned more than $500 million from World Liberty Financial, a crypto project co-founded with his sons, approximately $635 million from selling TRUMP memecoin, and over $80 million from a legal settlement with a media company. Reuters previously estimated that Trump family crypto businesses have generated at least $2.3 billion in profits from investors since his return to the presidency.
Institutional and Project Updates: OUSD Stablecoin, Pump.fun Changes, MetaMask Account, OKX.AI
Market sources indicate that financial and crypto institutions including Visa, Stripe, Mastercard, BlackRock, and Coinbase are planning to jointly launch a new stablecoin named 'OUSD,' adopting a multi-party collaboration model with revenue-sharing mechanisms. Specific structure, launch timeline, and regulatory arrangements remain undisclosed.
Prediction market platform Kalshi faces an amended lawsuit from the Massachusetts Attorney General, alleging it offers sports betting to users under 21. Kalshi allows users aged 18+ to create accounts and bet on sports events. The case began in September 2025. The CFTC previously filed a brief asserting exclusive jurisdiction over prediction markets.
Pump.fun announced it will discontinue support for tokenized AI Agent launches; existing tokens with the feature enabled remain unaffected. The platform will focus on launch models that improve retail trading experience. OKX launched OKX.AI, a decentralized platform that allows AI agents to publish, receive, pay for, evaluate, and arbitrate tasks. Founder Star said the next decade will be reconstructed around agents.
MetaMask launched a self-custodial 'Money Account' built on the Monad blockchain, with the core asset being the mUSD stablecoin. Users can earn up to approximately 4% floating APY, with funds automatically allocated to lending protocols like Morpho, with Aave integration planned. predict.fun partnered with Binance Wallet for an Alpha Points trading incentive campaign: from June 30 to July 6, a single Buy transaction over 50 USDT via Binance Wallet Prediction earns 5 Alpha Points.
Hyperliquid Strategies (ticker: PURR) was added to the Russell 3000 and Russell 2000 indices. AI chip startup Etched raised approximately $800 million from investors including Jane Street and a TSMC-affiliated VC, and has signed about $1 billion in sales contracts (specific clients undisclosed).
Market Sentiment and Risk Warnings: From Peter Schiff to Jefferies
Economist Peter Schiff questioned the prevailing optimistic view on Bitcoin, noting that BTC fell below $20,000 about 3.5 years ago and could do so again, warning not to underestimate downside risk. Jiang Zhuor posted on X that continued ETF selling, increased Coinbase discounts, positive funding rates, and high open interest all point to 'something big coming,' implying potential sharp volatility.
Investment bank Jefferies warned about the CLARITY Act (Clarity Act), which passed the Senate Banking Committee 15-9 on a bipartisan vote but faces significant legislative hurdles ahead. Political uncertainty could exacerbate crypto market volatility in the coming weeks. The bill aims to clarify the regulatory boundary between the SEC and CFTC over digital assets; passage would significantly boost institutional participation, while delays would prolong regulatory uncertainty.