SnapShot 215

ETH breaks multi-month high

Hello SnapShotters,

After a 10-hour standoff, the U.S. House of Representatives has officially approved all three major crypto bills, as ‘Crypto Week’ reached fever pitch in Washington. The GENIUS Act (stablecoins), the CLARITY Act (market structure), and a bill barring the Federal Reserve (Fed) from launching a central bank digital currency all advanced after late-night negotiations and a dramatic reversal from Republican holdouts.

Earlier in the week, Bitcoin crossed a $122K all-time high and left little doubt that the bull run is in full swing. Even though U.S. President Trump confirmed sweeping tariffs to start on August 1, the crypto market hurtled forward instead of pulling back like in the past cycle. 

Ether clocked a multi-month high of above $3,600, while XRP dominated conversations by recording an all-time high of above $3.50. Stellar wasn’t far from the limelight, soaring nearly 80% on a wave of renewed retail interest.

Wall Street took notice. U.S. spot BTC ETFs raked in $2.7B last week, while ETH ETFs saw $908M in inflows, both hitting their second-highest single-day inflows on July 10. In total, digital asset products recorded a staggering $3.7B in inflows, driven by rising demand for crypto as both a hedge and high-beta play.

Let’s take a look at what else the crypto world is delivering this week.

Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price. 
Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

News Snaps

🏛️ Standard Chartered Opens Doors to BTC and ETH Trading

Standard Chartered has become the first global bank to launch direct Bitcoin and Ether trading via its UK branch. It also plans to introduce non-deliverable forwards (NDFs) for crypto, which lets traders hedge or speculate on the future price of the underlying crypto.

🪙 BlackRock Seeks Staking for ETH ETF

Nasdaq has filed to add staking to BlackRock’s iShares Ether ETF. If approved, investors can earn yields from Ethereum’s Proof of Stake (PoS) system, and it may potentially close the gap to institutional-grade ETH income strategies.

🚀 Pump.fun Shatters ICO Records With $600M Sale

The Solana-based meme coin launchpad raised $600M in 12 minutes through a public token sale, with total proceeds amassing $1.32B after private allocations. The frenzy marks one of the biggest initial coin offerings since 2018.

🇸🇻 El Salvador’s 3x Bitcoin Gains

El Salvador’s BTC holdings tripled in value to over $760M with Bitcoin reaching a new all-time high of $122K. The nation’s 6,237 BTC stash, bought at an average price of $42K, is emerging as a case study in sovereign crypto strategy despite ongoing global scrutiny.

📈 ProShares Ultra XRP ETF Approved for NYSE Listing

The U.S. Securities and Exchange Commission (SEC) has greenlit the ProShares Ultra XRP ETF (UXRP), a 2x leveraged fund tracking XRP futures, for listing on NYSE Arca. Trading is expected to begin this week; it is the first XRP-linked ETF in the U.S., with inverse products still pending approval.

What’s Ahead

🔭 BIP-119 Bitcoin Upgrade by Year-End?

A growing coalition of developers is backing BIP-119, a long-delayed proposal that could enhance Bitcoin scalability, self-custody, and Layer-2 protocols like Lightning and Ark. Consensus could form by the end of 2025; it potentially prepares for Bitcoin’s most significant upgrade since Taproot.

Number of the Week

Chart of the Week

BTC ETF Volume Hits All-Time High Share of Spot Market

U.S. spot BTC ETFs now account for over one-third of the total BTC spot trading volume, hitting a record 33% share on July 10.

The milestone came alongside back-to-back $1B+ daily inflows into BTC ETFs (also a first), with July 10 also marking the second-highest net inflow day on record. 

The data points to growing confidence in ETF-based access as Bitcoin pushes into price discovery territory.

Research & Insights

Monthly Feature Article | Alpha Navigator: Bitcoin ETFs Surge, Crypto Diverges

The June edition of ‘Alpha Navigator’ captures a market in flux: While equities surged and fixed income edged up, crypto saw a more fractured performance. 

Bitcoin climbed 4.2% as U.S. spot BTC ETFs posted $4.6B in inflows, pushing cumulative ETF trading volume past $1T. Ether lagged slightly, while altcoins like ARB and XRP outperformed peers.

BTC’s growing correlation with equities and bonds — and its divergence from gold — is telling of shifting market narratives, as digital assets gain legitimacy through regulated channels and treasury adoption.

🔍 Read the full report to unpack crypto’s cross-asset behavior and discover where alpha may emerge next.

Crypto Trivia

Which of the following prominent figures was estimated to rank 11th globally by net worth when BTC hit its all-time high of $122K?

A) Elon Musk

B) Satoshi Nakamoto

C) Michael Saylor

Find the correct answer at the end of this newsletter. 👇

NFT Spotlight

Forget AI, the mechs are taking over with style and a sharp sense of humor in ‘The Mekabytes’, an NFT collection that’s dropping on Wednesday, July 23.

Brought to life by Enisaurus, each Meka is crafted in a bold, cartoon style that’s inspired by a fusion of sci-fi, classic animations, and Japanese-inspired details.

Collect from three different rarities — Orbys, Screenys, and Zappys — and own a Meka that’s buzzing with energy and ready to cause some intergalactic mischief.

Join the Mekasaurus adventure today.

Product Updates

Introducing Rewards Maximiser in the Crypto.com App

Rewards Maximiser aggregates Earn programs offered in the Crypto.com App. It illustrates certain yield products based on your current crypto holdings and displays the estimated reward. 

The programs are organised from your highest to lowest available token balances. With Rewards Maximiser, you can easily identify reward-generating opportunities for your assets and earn from multiple programs in just one tap. 

For more information, visit the blog or get started now. 

Liquid Staking Is Now Available in the U.S.

With Liquid Staking, you can benefit from staking rewards and capture market opportunities at the same time. Enjoy zero conversion fees when wrapping Solana (SOL) to Crypto.com Wrapped SOL (CDCSOL), a seamless user experience when staking your SOL for CDCSOL, and easy trading of CDCSOL and CDCETH via Cronos EVM/Solana and Cronos EVM/Ethereum respectively. Try it now. 

TAO Available for On-Chain Staking

You can now securely put your idle Bittensor (TAO) to work by staking it in the Crypto.com App, and receive up to 8% in rewards as often as three times a week. Enjoy the flexibility of unstaking your staked assets at any time. Get started now.

New Tokens

Useless Coin (USELESS)

Useless Coin is a Solana-based meme coin designed to have zero utility, no roadmap, and no development plans. 

Pump.fun (PUMP)

Pump.fun is a meme coin launchpad that lets users create and launch their own unique meme coins on the Solana blockchain, without requiring technical know-how or coding experience.

Caldera (ERA)

Caldera is a blockchain infrastructure platform focused on scaling Ethereum and simplifying the creation of custom Layer-2 (L2) rollups. 

This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.

Crypto Learn

What Is Copy Trading?

In crypto, copy trading lets beginners and busy investors mirror the trades of experienced professionals automatically. Instead of researching markets and strategies on your own, you allocate funds to copy a trader’s portfolio in real time, with every move reflected in your account.

Copy trading can help users learn by watching experienced traders in action, reduce emotional and FOMO-driven decisions, and allow for diversification if a user follows multiple traders at once.

How Does Copy Trading Work?

On a copy trading platform, users can browse different traders’ strategies and select one that matches their risk tolerance and investment goals. Once selected, the user’s portfolio will automatically execute the same trades.

Want to explore hands-off trading? Learn more in our latest University article.

CryptoIRL

Spotted: @Cryptorockstar4 and the Crypto.com Icy White Card touching some grass.

Hashtag #CryptoIRL with your Crypto.‌com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!

Security Tips

Financial Freedom to Financial Ruin: Two Men Charged in $650M Crypto Scam

Federal prosecutors have charged two men behind OmegaPro, a global crypto investment scheme that promised 300% returns in 16 months and defrauded victims out of over $650 million.

Promoters claimed investors’ funds would be managed by elite forex traders, luring victims with slick videos, high-end events, and even projecting the OmegaPro logo onto Dubai’s Burj Khalifa to manufacture legitimacy.

In reality, it was a multi-level marketing scam. When OmegaPro collapsed, the scammers told victims their money had been ‘transferred’ to a new site, but no one got their funds back.

Here’s how to stay safe from crypto Ponzi schemes:

• Be cautious about opportunities that promise guaranteed or high returns.
• Avoid platforms that lack transparency and only use ones that are regulated or audited.
• When in doubt, sit it out. Do not invest more than you can afford to lose.

Crypto Trivia Answer

B) Satoshi Nakamoto

The pseudonymous creator of Bitcoin is believed to hold over 1.09 million BTC, worth about $131B at the all-time high of $122K per coin. For Nakamoto to reach the number one spot, BTC would need to hit $370K, a 208% jump from current levels.

That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.