After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Fragmetric (FRAG). As of 05:50 today, its market cap is 21.25M USD, with a coin price of 0.10518 USD, witnessing a 24-hour increase of 110%.
The second is LOBO•THE•WOLF•PUP (LOBO). As of 05:50 today, its coin price is 0.00029050 USD, with a 24-hour increase of 93%.
The third is Humanity (H). As of 05:50 today, its coin price is 0.076366 USD, showing a 24-hour increase of 71.8%.
In fourth place is Cobak (CBK). As of 05:50 today, its coin price is 0.69670 USD, with a 24-hour rise of 46.3%.
In fifth place is Scallop-Sui (SCA). As of 05:50 today, its coin price is 0.12676 USD, increasing by 43.3% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 15 sectors, 2 are up and 14 are down. Notably, NFT and SocialFi sectors are worth mentioning.
NFT sector has risen 3.69% relative to the UTC 0 time, led by gains in looks (18.1%), gq (15.5%), and PENGU (14.1%).
SocialFi sector has decreased 2.18% relative to UTC 0, with kin (-8.97%), LOT (-7.58%), and UXLINK (-4.53%) leading the drop.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to SoSoValue data, Bitcoin spot ETF saw a total net outflow of 342.25M USD yesterday (Eastern Time, July 1th).

The Bitcoin Spot ETF with the highest net outflow yesterday was Fidelity's ETF FBTC, with a daily net outflow of 172.73M USD, and the total historical net inflow of FBTC currently stands at 11.79B USD.

The second highest was Grayscale's ETF GBTC, with a daily net outflow of 119.51M USD, and the total historical net outflow of GBTC currently stands at 23.37B USD.

As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 131.30B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 6.23%. The historical cumulative net inflow has reached 48.63B USD.

Next news:Figma, a San Francisco-based cloud collaboration design software company, has filed for an IPO with the SEC. As of March 31, 2025, the company held approximately $69.53 million in Bitcoin spot ETFs. According to the disclosure, the board of directors approved a $30.000 million Bitcoin investment plan on May 8, 2025, and subsequently purchased an equivalent value of USDC stablecoins on a 1:1 basis, with plans to reinvest the stablecoins in Bitcoin in the future. [吴说]
Next news:The Ethereum ecosystem is getting additional support from a newly launched organization called the Ethereum Community Foundation, according to an announcement from Zak Cole on X. The foundation’s mandate is to support the institutional adoption of Ethereum infrastructure and, ultimately, drive up the price of ETH.

Cole told The Block in a direct message that the organization has so far raised millions of dollars worth of ETH, which will be distributed to projects building credibly neutral tech. "We already have a treasury that consists of eth contributed by individual supporters," he said.

"All supported integrations must contribute to ETH burn. This aligns institutional throughput with ETH holder value. By prioritizing mechanisms that reduce ETH supply, we ensure that adoption strengthens the monetary integrity of the network," the project wrote on its website.

Every project the ECF backs must also be "immutable and tokenless."

In particular, the foundation is looking to back real-world asset applications that bring stocks, bonds, real estate, and other assets onchain. It will also look at projects contributing to “public goods,” including fixing mispriced blob space.

"Coin voting will dictate grant distribution," Cole said, noting that "all funding decisions and discussions [are] 100% transparent."

“Every grant is public. Every project commits to ETH alignment. Every dollar moves the number,” Cole said in an address at the Ethereum Community Conference in Cannes, France.

According to Cole’s presentation, the ECF’s first initiative will be the so-called “Ethereum Validator Association,” which aims to give network validators “a say in development” using staked ETH to signal their preferences. The EVA will also fund validator infrastructure.

It is unclear who currently supports the effort. Cole noted that additional information will come out in the coming weeks.

The Ethereum Community Foundation is being launched amid a period of reorganization for the Ethereum ecosystem, including a dramatic executive shakeup at the Ethereum Foundation and the formation of Etherealize, an institutional marketing and product firm led by Vivek Raman and former EF developer Danny Ryan.

After losing market share to competitors like Solana, Ethereum’s spiritual leaders are attempting to transform the network’s public image as well as redirect attention toward the Ethereum mainnet, rather than its ecosystem of Layer 2s. As part of its mandate, the Ethereum Community Foundation will also interact with governments, regulators, and policymakers.

"We hoped the EF would course correct, they didn't," Cole said. "So we’re stepping up. We fund projects that burn ETH. We enforce immutability. We reject token games. We align incentives. We show up where Ethereum [Foundation] is missing. This isn’t a fork in the code, it’s a fork in priorities."
Next news:On July 2nd, according to on-chain analyst Onchain Lens (@OnchainLens), a whale deposited 2,450 ETH worth $6.000 million to Kraken after 3 years of inactivity, making a profit of $2.800 million. [深潮 TechFlow]
Next news:According to a Hong Kong Economic Times report on July 2nd, Hong Kong-listed company Deren Holdings announced the signing of a memorandum of understanding with RWA tokenization fintech company Asseto Fintech Limited. The two parties will cooperate to launch a compliant multi-asset strategy fund and plan to apply for a Hong Kong stablecoin-related license. The cooperation also includes promoting compliant digital asset products and services, stablecoin applications, and DeFi integration, as well as exploring the application of tokenized fund shares as a stablecoin yield source. [Shenchao TechFlow]
Next news:

A Cryptocurrency tax provision that would have scored big for advocates ultimately didn't make it into President Donald Trump's "big, beautiful bill," passed out of the Senate on Tuesday.

The amendment, proposed by Sen. Cynthia Lummis, R-Wyo., would have targeted "unfair tax treatment" of digital assets. On Tuesday, Lummis said she planned to still work on getting her provision across the finish line.

“I had productive conversations with Chairman [Mike] Crapo and other Senate Finance Committee members over the last few weeks, and I look forward to continuing to work with the Chairman and the rest of the committee to fix these important tax issues at a later date," Lummis said in a statement sent to The Block.

The provisions would set a de minimis exclusion, setting a $300 threshold and including language on how miners and stakers should be taxed. Crypto advocacy groups have been pushing for changes on how crypto is taxed, particularly focused on a de minimis exemption.

The vote was 50-50, with Vice President JD Vance casting the tie-breaking vote.

Ahead of Tuesday's vote, crypto pundits urged people to call lawmakers, including Senate Majority Leader John Thune, and voice their support.

"Ran out of time to include the crypto tax title in BBB," said Alexander Grieve, vice president of government affairs at Paradigm in a post on X on Tuesday. "A huge thank you to @SenLummis for championing it, and @MikeCrapo, @SenatorTimScott, & @LeaderJohnThune for trying to make it happen. And to everyone in the community who made calls yest. We’ll get it done another way."

The reconciliation bill next heads to the House as Trump's deadline on Friday looms.

Next news:At the European Economic Forum in Sintra, Portugal, when asked if the Federal Reserve would further ease monetary policy if tariffs did not trigger inflation, Federal Reserve Chairman Powell said, "After assessing the size of the tariffs, we decided to hold off on taking action." He expects inflation to rise slightly this summer due to the impact of tariffs, so with the economy still robust, the Federal Reserve chose to remain patient, and waiting is the most prudent approach. Powell said he could not say whether a rate cut in July would be premature, but stressed that "we will not rule out the possibility of any meeting in advance," and the next step will depend entirely on data performance. (Golden Ten) [Odaily Planet Daily]
Next news:SlowMist CISO @im23pds tweeted a reminder that the Chrome V8 engine vulnerability CVE-2025-6554 allows attackers to run malicious code through carefully crafted web pages. The relevant exploit PoC has been made public and is being exploited. Users should pay attention to upgrading to avoid phishing attacks that lead to asset losses. [Foresight News]
Next news:On July 2nd, Bit Digital (Nasdaq: BTBT) announced today that the underwriters of its recent public offering have fully exercised their over-allotment option, purchasing an additional 11.25 million ordinary shares, bringing approximately $21.40 million in additional net proceeds to the company. The public offering totaled 86.25 million ordinary shares, with total net proceeds of $162.90 million. The company stated that it will use the proceeds to purchase Ethereum. As a digital asset platform focused on Ethereum native treasury and staking strategies, Bit Digital currently operates one of the world's largest institutional Ethereum staking infrastructures. [深潮 TechFlow]
Next news:DeFi Development Corp. (Nasdaq: DFDV) has announced its intention to issue $100 million in aggregate principal amount of convertible senior unsecured notes due 2030 in a Rule 144A private offering, and has granted the initial purchasers a 13-day option to purchase up to an additional $25.00 million of notes. The company intends to use a portion of the net proceeds to repurchase common stock through prepaid forward contracts, and the remainder for general corporate purposes, including increasing its holdings of Solana (SOL). [Wu Shuo]

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.