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CoinCatch Market Daily Report (July 22, 2025)
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2025-07-22 | 15m
On July 22, the cryptocurrency market saw Bitcoin (BTC) exhibit a pattern of high-level volatility, finding support near $116,600 before rebounding, though it repeatedly failed to break through the $118,500 resistance level, indicating weakening upward momentum. Meanwhile, Ethereum (ETH) fluctuated around $3,800, briefly touching this level after breaking through $3,700, but failed to surpass the key resistance of $4,000, showing signs of short-term fatigue. On the corporate front, Nasdaq-listed Bit Origin announced its first purchase of Dogecoin (DOGE), totaling 40,543,745 coins, following its plan to establish an enterprise-level DOGE vault. Ethena Labs revealed a $360 million PIPE deal with StablecoinX, while its foundation launched a $260 million ENA public market buyback plan to bolster ENA reserves. Additionally, Bittensor ecosystem company xTAO announced its listing on Canada’s TSX Venture Exchange on July 23, with the stock code XTAO.U.
Crypto Market Overview
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BTC (-0.95% | Current price 118,320 USDT): BTC price shows a high-level oscillation pattern, currently fluctuating around $118,000. Technical analysis indicates that BTC rebounded after finding support near $116,600, but failed to break through the $118,500 resistance level multiple times, showing weakened momentum. On the daily chart, BTC remains above the 50-day moving average, with the MACD line approaching a golden cross, suggesting potential for further rebounds in the short term. On July 21, BTC ETFs saw outflows of $131 million, with ARKB accounting for $77.5 million and GBTC for $36.7 million.
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ETH (-2.33% | Current price 3,703 USDT): ETH price is oscillating at a high level near $3,800, showing short-term fatigue. Technical analysis suggests that after breaking through $3,700, ETH briefly touched the $3,800 mark but failed to further surpass the key resistance at $4,000, indicating insufficient bullish momentum. The RSI indicator is approaching 70, nearing the overbought zone, suggesting an increased risk of short-term pullback. On July 21, ETH ETFs saw inflows of $296 million, with BlackRock’s ETHA receiving $102 million and Fidelity’s FETH receiving $126 million.
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Altcoins: The market is currently in an overall uptrend. The Fear and Greed Index currently stands at 67, indicating optimistic market sentiment.
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Macro Environment: On July 21, the S&P 500 index rose 0.14% to 6,305.60 points; the Dow Jones Industrial Average fell 0.04% to 44,323.07 points; the Nasdaq index rose 0.38% to 20,974.18 points. As of July 22, 3:25 (UTC), the spot gold price per ounce was $3,390, down 0.20% in the past 24 hours.
Top Gainers
HOME Defi App (+26.63%, Market Cap 89.66 million)
HOME token is currently priced at 0.03296, with a 24-hour increase of 26.63%. The DeFi App is a modular DeFi platform designed to simplify the DeFi experience for both new and advanced users. It allows users to manage crypto wallets, perform token swaps, and engage with multiple blockchain networks without worrying about gas fees or complex setups. HOME’s rally combines exchange-driven liquidity, tokenomics scarcity, and technical momentum. While near-term volatility is likely as RSI cools, watch for sustained protocol usage metrics post-airdrop.
CTK Shentu (+16.03%, Market Cap $68.71 million)
CTK token is currently priced at 0.4631, with a 24-hour increase of 16.03%. Shentu Chain, a security-first, delegated proof-of-stake blockchain, for trustworthy execution of mission-critical applications, including DeFi, NFTs, and autonomous vehicles. Shentu Chain prioritizes cross-chain compatibility, built as a Cosmos Hub with full EVM and Hyperledger Burrow compatibility, as well as compatibility with eWASM and Ant Financial’s AntChain. RSI7 at 84.99 (overbought) and MACD histogram +0.0109 confirm strong upward momentum. Price broke the $0.3915 resistance (now support) from June’s 39% rally, with Fibonacci extension targets at $0.496 (127.2%) and $0.574 (161.8%). 24h volume hit $23.7M (-15% vs prior day), showing sustained interest despite slight profit-taking. Crypto market cap rose 24.68% MoM, with altcoin season index up 246% in 30d as capital rotates from BTC. CTK’s 55% weekly gain outpaces the sector (ETH +11.4%, BTC +4.5%), reflecting its low-cap ($68.7M) appeal during risk-on phases.
PI Pi (+7.94%, Market Cap $3.75 billion)
PI token is currently priced at $0.4859, with a 24-hour increase of 7.9%. Pi Network is a social cryptocurrency, developer platform, and ecosystem designed for widespread accessibility and real-world utility. It enables users to mine and transact Pi using a mobile-friendly interface while supporting applications built within its blockchain ecosystem. The Pi2Day 2025 Ecosystem Challenge (June 28–July 27) drove engagement: App Studio: 34,800+ users built 21,000+ apps (7,600 chatbots, 14,100 custom tools) using no-code AI tools (Pi Network), Ecosystem Staking: 37.7M PI tokens staked by 16,000+ users to support 1,450+ apps, tightening liquid supply. Whale activity: One wallet moved 11.6M PI ($5.6M) to cold storage, signaling accumulation (
CoinMarketCap). Altcoin rotation: The CMC Altcoin Season Index surged 233% in 30 days as Bitcoin dominance dipped to 60.12% from 64.74% last month.
Market Insights
Trump Signs GENIUS Act, Marking the First U.S. Federal Regulatory Framework for Stablecoins
U.S. President Donald Trump has officially signed the “Guarding Emerging National Interests in Uniform Stablecoins Act” (GENIUS Act), the first piece of federal legislation in the country specifically addressing crypto assets. This milestone marks the formal entry of stablecoins into a compliant regulatory framework. The act mandates that all stablecoins must be backed 100% by U.S. dollars or equivalent high-liquidity assets, and requires issuers with over $50 billion in market cap to undergo annual audits. It also provides regulatory guidance for offshore issuers, aiming to enhance the safety and transparency of cross-border stablecoin circulation. Industry leaders such as Circle, Tether, and Coinbase were invited to the signing ceremony, where Trump stated that this act will “cement the United States’ leadership in the global financial system and crypto innovation.”
The enactment of the GENIUS Act marks the first establishment of a unified federal standard for stablecoin oversight in the U.S. It offers a clear path for compliant domestic issuance and brings significant policy certainty to the global crypto market. Simultaneously, the legislation signals a proactive and open stance by the U.S. government toward crypto finance, potentially accelerating traditional financial institutions’ expansion into Web3 and RWA sectors. This development may serve as a major catalyst for initiating a “compliant bull market.” Currently, the total market cap of stablecoins has surpassed $260 billion and continues to grow, with favorable regulations likely to drive further expansion and deeper adoption.
Abstract Chain Surpasses 100 Million On-Chain Transactions
According to a post by Abstract core contributor
cygaar on X (formerly Twitter), the total number of on-chain transactions on Abstract Chain has exceeded 100 million, reaching 100,001,152 at the time of the announcement. He noted that this milestone is not only a major achievement for the chain itself but also a reflection of growing community participation and ecosystem engagement.
Abstract Chain’s transaction growth is largely attributed to its modular architecture and high composability tailored for developers, which significantly lowers the barrier for DApp deployment and user interaction. In parallel, its on-chain ecosystem has been expanding rapidly, with high-frequency applications like blockchain gaming, micro-payment protocols, and lightweight smart contract tools driving daily transaction activity. Furthermore, Abstract’s community incentives and developer support mechanisms have created a virtuous cycle, serving as key drivers of transaction volume acceleration.
Ethereum to Launch 10th Anniversary “The Torch” NFT, Minting Opens July 30
To celebrate Ethereum’s 10th anniversary, the official team announced on X the launch of a special commemorative NFT—“The Torch.” This NFT honors the builders and values that have shaped Ethereum over the past decade. Symbolically, “The Torch” will be passed among community members and ultimately burned, representing the spirit of legacy and continuity. Starting July 30, any user can mint their own commemorative version, participating in this shared moment as Ethereum enters its second decade.
“The Torch” is more than a celebration of Ethereum’s history—it is a ceremonial expression of community ethos. Through its design of passing and eventual burning, the NFT emphasizes the themes of “builder responsibility” and “collective legacy.” The open minting format lowers participation barriers and strengthens community bonds, once again highlighting Ethereum’s unique cultural and technical identity. This initiative is likely to spark a new wave of NFT participation on-chain and may serve as a symbolic starting point for Ethereum’s new era.
Federal Reserve Chairman Powell Will Make a Public Speech Tonight, and the Market Will Focus on How He Responds to Trump's Pressure
On July 22, Federal Reserve Chairman Powell will attend a banking supervision meeting at 20:30 Beijing time tonight and deliver an opening speech. Due to the recent frequent pressure from Trump and Republican lawmakers on Powell regarding the overspending of the renovation of the Federal Reserve headquarters, his speech tonight has attracted widespread attention from traders and investors. In his speech tonight, Powell is not expected to make a direct statement on the incident, but may reiterate the importance of the independence of the Federal Reserve.The renovation budget of the Federal Reserve headquarters building surged from $1.5 billion to $2.5-2.6 billion, far exceeding expectations, and it was rumored to involve luxurious facilities such as rooftop gardens and private elevators, causing the public and politicians to question its extravagance. Trump and others took the opportunity to criticize Federal Reserve Chairman Powell and question his transparency. The Fed responded that the overspending was due to rising material costs and unexpected problems, and the funds came from its own revenue rather than taxpayers, but the controversy has not subsided and may affect its reputation and independence. The market speculated that Trump might make a fuss about this to fire Powell. When asked last week whether he would fire Powell, Trump said that it was unlikely unless fraud was involved.
Bittensor Ecosystem Company xTAO to List in Canada, Receives $22.8 Million Investment from DCG and Others
Bittensor ecosystem company xTAO announced it will list on the TSX Venture Exchange (TSXV) in Canada on July 23, under the ticker symbol XTAO.U. The company has previously completed a $22.8 million financing round, with investors including Digital Currency Group, Animoca Brands, Arca, Borderless Capital, and FalconX. xTAO stated that the company will focus on advancing the development of the Bittensor network, emphasizing the construction of core products such as data, computing power, and machine learning models, and connecting users and enterprises through validator nodes.
xTAO’s announcement of listing on a Canadian exchange and completing a financing round has significant implications for the Bittensor ecosystem and its development in the decentralized AI field. As a company focused on providing infrastructure support for the Bittensor network, xTAO will gain more resources and market recognition through listing, helping to drive innovation and R&D in core areas such as data, computing power, and machine learning models. This financing is supported by several well-known digital asset investment institutions, injecting strong capital and industry resources into xTAO’s development. In the future, xTAO will play a bridging role by connecting users and enterprises through validator nodes, promoting the widespread application and commercialization of the Bittensor network.
Reference:
Farside Investors. (2025).
Farside Investors: ETF flow data. Retrieved July 22, 2025, from
https://farside.co.uk/
Investing.com. (2025).
USA Indices. Retrieved July 22, 2025, from
https://investing.com/indices/usa-indices
Investing.com. (2025).
XAU/USD – Gold Spot to US Dollar. Retrieved July 22, 2025, from
https://investing.com/currencies/xau-usd
CoinGecko. (2025).
Cryptocurrency categories. Retrieved July 22, 2025, from
https://www.coingecko.com/categories
The Block. (2025, July 19).
Trump signs stablecoin GENIUS Act, cementing first major crypto framework in US law. Retrieved July 22, 2025, from
https://www.theblock.co/post/363425/trump-signs-stablecoin-genius-act-cementing-first-major-crypto-framework-in-us-law
CoinCatch Team
Disclaimer:
Digital asset prices carry high market risk and price volatility. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance. CoinCatch is not responsible for any losses that may occur. This article should not be considered financial advice.
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