Crypto Morning Brief: LetsBONK commits to buy back top tokens, OSL Group plans share placement to raise about HK$2.355 billion
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Crypto Morning Brief: LetsBONK commits to buy back top tokens, OSL Group plans share placement to raise about HK$2.355 billion
Tron Inc. announced it will ring the Nasdaq opening bell on July 24.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. initial jobless claims for the week ending July 19: 217,000, vs. expected 226,000
According to Jinshi Data, U.S. initial jobless claims for the week ending July 19 came in at 217,000, below the expected 226,000 and prior value of 221,000.
Tron Inc. announces it will ring the Nasdaq opening bell on July 24
According to Globenewswire, Tron Inc. (Nasdaq: TRON) announced it will host a Nasdaq MarketSite opening bell ceremony on July 24 in Times Square, New York, hosted live by Justin Sun, founder of TRON and global advisor of Tron Inc. This marks the company’s official transformation into a technology firm focused on blockchain and digital asset innovation. The company stated that the event is a significant milestone in Tron Inc.'s development and highlights its long-term vision of driving shareholder value through innovation and strategic leadership. The company was formerly SRM Entertainment and is currently the publicly listed entity holding the largest amount of TRX tokens.
Memecoin launch platform LetsBONK commits 1% of revenue to buy back top-tier tokens
According to The Block, LetsBONK announced it will use 1% of total revenue to repurchase top token pairs within the BONK ecosystem. The platform has recently surpassed rival Pump.fun to become the leading Solana-based memecoin platform in daily trading volume and number of tokens launched. Data shows LetsBONK earned approximately $1.5 million in fees over the past 24 hours, implying about $15,000 per week will be allocated to buybacks. The total market cap of tokens launched on LetsBONK has now exceeded $1 billion, with Useless Coin ranking first at around $312 million.
Ripple co-founder Chris Larsen sells ~$200 million worth of XRP in past 10 days
According to CryptoQuant data, Ripple co-founder Chris Larsen sold approximately $200 million worth of XRP over the past 10 days. CryptoQuant analyst Maartunn commented, "Still buying? You're just providing exit liquidity."
Cyvers Alerts: WOO X detected under attack, losses exceed $12 million
Cyvers Alerts posted on social media: "Detected multiple suspicious transactions involving WOO X across BTC, ETH, BNB, and ARB networks, with estimated losses exceeding $12 million.
On the Ethereum network, a suspicious address received $1 million worth of USDT and additional ETH from WOO's hot wallet. The $1 million in USDT was subsequently swapped into ETH, followed by the transfer of approximately $7.3 million to a new address."
The WOO team has confirmed the incident, stating: "We are investigating a limited incident that occurred earlier today on the WOO X platform." User funds and trading remain unaffected, but withdrawals have been temporarily suspended during the investigation.
NFT platform Pixel Vault may cease operations
According to an official announcement, NFT platform Pixel Vault declared on July 24 that after more than four years of operation, it has begun the process that could lead to shutting down. The company had aimed to build a profitable and sustainable crypto entertainment business but failed to succeed. Pixel Vault is currently negotiating with multiple parties regarding potential acquisition of the company and its assets to continue serving the community.
Musk: Vine to be revived in AI form
Musk posted on social media: "We will revive Vine in AI form."
LD Capital founder Yi Lihua: ETH strong consolidation nearing end
LD Capital founder Yi Lihua posted on social media: "ETH's strong consolidation is nearing its end. This level was originally a major resistance zone and where OGs collectively break even. In a bull market trend, regardless of any negative news, do not short and avoid attempting to short. Stick to trend-following investment principles."
Market news: TON Foundation and Kingsway Capital plan to raise $400 million for TONCoin treasury
According to market news, the TON Foundation and Kingsway Capital plan to raise $400 million for the TONCoin treasury.
Market news: Strategy plans to increase fundraising target from $500 million to $2 billion for Bitcoin purchases
According to market news, Strategy plans to increase its fundraising target from $500 million to $2 billion for purchasing Bitcoin.
OSL Group plans rights issue to raise approx. HK$2.355 billion for strategic acquisitions, stablecoin initiatives, etc.
According to Jiemian News, early on July 25, OSL Group announced on the Hong Kong Stock Exchange that on July 25, 2025 (before trading hours), the company entered into placement and subscription agreements, general authorization subscription agreements, and special authorization subscription agreements. Total proceeds from these transactions are estimated at approximately HK$2.35503 billion, with net proceeds estimated at approximately HK$2.33610 billion.
The placement price is HK$14.90 per share, representing a discount of approximately 15.34% compared to the closing price of the shares on the last trading day on the Hong Kong Stock Exchange. The company intends to use the net proceeds as follows: approximately 50% to support strategic acquisition initiatives; approximately 30% for global business and new business initiatives (including payments and stablecoin initiatives); and approximately 20% for general corporate purposes.
Market Performance
Suggested Reading
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My Experiences and Lessons from This Cycle (Part II)
This article examines the current phase of the crypto market cycle, investment strategies, performance and outlook for key assets such as Bitcoin and Ethereum, as well as opportunities and challenges in the primary market and altcoins. Two guests share their investment experiences, lessons learned, and outlooks for future markets, while also exploring possibilities for cross-sector investments.
Bonk Seizes Power, How Can Pump Defend Its Position?
This article details how Bonk.fun has risen over the past month to claim the top spot among Solana launchpads by revenue, with significant growth in token launches and market capitalization, creating a virtuous cycle. Meanwhile, Pump.fun's market share has declined, despite having a higher proportion of high-frequency traders, with both token issuance and trading volumes now trailing behind Bonk.fun. Over two-thirds of Bonk.fun's trading volume comes from third-party trading applications, whereas this ratio has notably decreased for Pump.fun.
Artemis Research: Why ETH Can Become the Reserve Asset of On-Chain Economy?
This article explores how Ethereum (ETH) is transforming from a misunderstood asset into a scarce, programmable reserve asset that secures and powers the on-chain economy. Its adaptive monetary policy, inflation control mechanisms, and accelerating institutional adoption are driving ETH to become foundational in the on-chain economy. Ethereum's composability and broad applications have cemented its central role in decentralized finance (DeFi), stablecoins, and Layer 2 networks, gradually establishing it as the reserve asset of the on-chain economy.
Will Satoshi's 1.09 Million Bitcoins Become the Price of Faith?
This article explores core issues surrounding Bitcoin's decentralization ethos, particularly how Satoshi Nakamoto's 1.096 million Bitcoins might trigger community fragmentation and ideological conflict amid threats posed by quantum computing. The article examines the meaning of Bitcoin decentralization, quantum computing threats to cryptography, and controversies over handling Satoshi's Bitcoins, analyzing viewpoints from different factions and their potential consequences.
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