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MEXC Daily Highlights (July 9)| BTC Momentum Sustains, SOL Futures Hit Record High, Institutional Interest on the Rise

Jul 9, 2025MEXC

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1. Market Overview

According to MEXC data, Bitcoin rose to 109,216.56 USDT and is now reported at 108,887.74 USDT, with a 24-hour increase of + 0.72%

MEXC platform USDT standard perpetual contract trading volume of the top ten heat map .

BTCUSDT , ETHUSDT , SUIUSDT , SOLUSDT , PEPEUSDT are the top five, for more information about Bitcoin price and macroeconomics, please click [MEXC Market] to view.

According to on-chain data, the cumulative publishing volume of USDT0 on Unichain has exceeded 200 million for the first time, marking the continuous increase of the chain's influence in the stablecoin network. In terms of total inflow and outflow of gold, Unichain has now become the third largest chain in the USDT0 ecosystem, second only to Ethereum and Arbitrum, showing its rapid rise in cross-chain liquidity and application scenarios.

2.2 CME Group's Solana futures trading volume has surpassed $4 billion

According to Cointelegraph, the trading volume of SOL futures on the Chicago Mercantile Exchange Group (CME Group) has exceeded $4 billion. This milestone shows that institutional investors' interest in Solana continues to heat up, and it also marks that SOL is accelerating its move towards the mainstream derivatives market. With increasing trading depth and liquidity, SOL's asset position is expected to further consolidate.

According to CoinMarketCap data, today's total cryptocurrency market cap 3.34626 trillion dollars, 24-hour trading volume 103.252 billion dollars, of which BTC share of 64.5%.

3. Industry News

3.1 Musk criticizes Trump and confirms that the "US Party" prioritizes exposing Epstein case documents

According to TechFlow , on July 9th, Musk once again criticized US President Trump on the "Epstein case" and confirmed that his new political party, the "US Party", will prioritize the exposure of relevant documents.

Musk posted on the 8th questioning the credibility of Trump not releasing the Epstein documents. A user asked if exposing the documents was a priority for the "US party", and Musk responded with a "100%" emoji.

3.2 US sanctions North Korean IT personnel for aiding cyber espionage and cryptocurrency theft

The US Treasury Department has added North Korean hacker group member Song Kum Hyok to its "Specially Designated Nationals" sanctions list, accusing him of helping North Korean IT personnel work for overseas companies, engaging in cyber espionage, and stealing cryptocurrency. Officials said that these IT personnel obtained technical and virtual currency industry positions through fake identities, and sent income and stolen funds back to North Korea. Although no specific cryptocurrency wallet address was added this time, the Treasury Department reiterated that it had sanctioned the Lazarus Group .

3.3 Coinbase CEO: Expected House of Representatives to Pass CLARITY Act Next Week, US Ready to Embrace Cryptocurrency

Coinbase CEO Brian Armstrong wrote, "The US is ready to embrace cryptocurrency. The House of Representatives should pass the CLARITY Act next week, and the Senate is expected to follow suit so that the bill becomes law after President Trump signs it."

4. Industry Analyst's Perspective

4.1 Bitcoin funding rates are close to the bottom area, and the bullish trend still has momentum

CryptoQuant analyst Axel Adler Jr stated in a post that whenever the 30-day percentile funding rate of mainstream trading platforms falls to about 50% level (September 2023, May 2024, September 2024, and April 2025), it corresponds to a partial bottom stage, and then the market resumes an upward trend. Following the last bottom in April 2025 and subsequent rise to $112,000, the current funding rate percentile is 54%. Based on this pattern, the bullish trend still maintains momentum, and the next focus will be on the 80% level. Breaking through this level may mean that the market is overly enthusiastic and there is a risk of adjustment.

4.2 Trump's tariff delay, BTC 110,348 as short-term key resistance

According to Bitunix analysts, US President Trump announced that the deadline for reciprocal tariffs will be postponed to August 1st. Affected by the tariff policy, the exchange rate of the US dollar against other currencies has risen to a new high in more than a week. So far, only a few countries have successfully reached an agreement. During this period, the US has made progress in negotiations with the United Kingdom, Vietnam, and China. Trump also warned countries not to retaliate. The daily chart of BTC shows that it is still under pressure at the 110,348 resistance level.

5. Information on Financing

5.1 Australian crypto asset management company DigitalX completes financing of about $13.50 million, with participation from Animoca Brands and others

Australian crypto fund management company DigitalX announced that it has raised 20.70 million Australian dollars (about 13.50 million US dollars) from crypto investors, including Animoca Brands, UTXO Management, and ParaFi Capital. About 12.90 million US dollars will be used to expand its bitcoin reserves , and the remaining funds will be used for financing-related fees and daily Working Funds.

The company said: 'This financing is a key milestone in the company's development, marking our refocus on Bitcoin and seeing it as a core cornerstone of DigitalX's digital asset strategy.' The strategic placement also attracted investment from several Listed Company CEOs, including Simon Gerovich, CEO of Metaplanet .

5.2 Compliance platform for crypto exchanges Castellum.AI completed 8.50 million USD Series A financing, led by Curql

Castellum.AI Announced the completion of 8.50 million USD Series A financing led by Curql to accelerate the adoption of its AI-driven AML/KYC compliance platform in the financial and crypto industries. The platform, which combines interpretable AI agents and risk data, has helped clients significantly reduce false positive rates and review costs, and is seen as an important representative of the next generation of compliance technology.

6. Market Trends

6.1 Deutsche Bank survey: US cryptocurrency adoption rate reaches 17%, dominated by men and young people

Deutsche Bank 's latest survey shows that the US is the largest user group for cryptocurrency, with an adoption rate of 17%, higher than the United Kingdom's 11% and the European Union's 10%. The adoption rate of the 18-34 age group in the US increased from 24% in January to 29% in June due to market optimism about Trump's support for cryptocurrency policies. In the US, wealthy people account for 32% of cryptocurrency adopters. 23% of US men use cryptocurrency for payment or investment, compared to 13% of women. Men generally believe that they have a deeper understanding of cryptocurrency.

6.2 SEC considers establishing new framework for ETF expedited approval, or publishing draft this month

The US Securities and Exchange Commission (SEC) is considering establishing a new framework to speed up the approval process. It is expected to release relevant drafts this month, and multiple crypto spot ETFs are expected to be approved one after another. Previously, crypto journalist Eleanor Terrett disclosed that the framework may allow exchanges to directly list eligible crypto ETFs based on unified standards without submitting 19b-4 documents one by one and waiting for a 75-day approval cycle. Bloomberg ETF analyst James Seyffart expects the new regulation to be officially implemented as early as September or October, when more crypto asset ETFs are expected to usher in a wave of approval and release.

7. Project Updates

1) Coinbase partners with Cantina to launch $5 million bug bounty program

2) Phantom launches perpetual contract trading feature supported by Hyperliquid in wallet

Ripple shareowner Linqto has filed for bankruptcy

OpenSea acquires Rally Wallet, the development company behind it.

Tether strategically invests in blockchain forensics company Crystal Intelligence.

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