Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM Hong Kong time on July 9, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.44 trillion US dollars, witnessing a decrease of 2.2% compared to yesterday; the total trading volume is 81.41 billion US dollars, marking a decline of 7.88% from the previous day.
According to sosovalue, the price of $BTC is 108,780 USD, an increase of 0.524% from yesterday. The market cap of $BTC is 2.16 trillion USD, accounting for 62.8% of the total market cap; $BTC's 24-hour trading volume is 21.81 billion USD, making up 26.8% of the total trading volume.
The price of $ETH is 2,628.1 USD, up 2.97% from yesterday; the market cap of $ETH is 317.25 billion USD, representing 9.22% of the total market cap; $ETH's 24-hour trading volume is 16.24 billion USD, comprising 19.9% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 72.02% of the total cryptocurrency market cap, and their combined trading volumes constitute 46.7% of the total trading volume.
According to SoSoValue data, Bitcoin spot ETF saw a total net inflow of 80.08M USD yesterday (Eastern Time, July 8th).
The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of 66.81M USD, and the total historical net inflow of IBIT currently stands at 52.88B USD.
The second highest was Grayscale Bitcoin Mini Trust ETF $BTC, with a daily net inflow of 4.82M USD, and the total historical net inflow of $BTC currently stands at 1.48B USD.
As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 136.75B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 6.33%. The historical cumulative net inflow has reached 49.94B USD.
Source: https://sosovalue.com/zh/assets/etf/us-btc-spot
South Korea's Ministry of SMEs and Startups published a notice today stating its intention to amend the existing law on local startups to allow virtual asset trading and brokerage service providers to be registered as "venture companies," which would make them eligible for government benefits.
A "venture company" in South Korea refers to a small and medium-sized enterprise or a startup that has received an official "venture certification" from the government, qualifying it for specific benefits based on factors such as investment, R&D intensity, or technological appraisal.
The Special Act on Promoting Venture Businesses previously limited blockchain-based crypto asset trading and brokerage firms from earning that certification in 2018, placing it in the same category as pubs, nightclubs and gambling facilities.
Dunamu, the parent company of Upbit crypto exchange, faced an additional $18 million corporate tax burden in 2018 after its venture business designation and the corresponding government subsidies were revoked. The company filed a lawsuit to contest the tax but was unsuccessful.
The proposed amendment is expected to elevate the legitimacy of local crypto firms and make them eligible for government subsidies such as tax cuts and financial support. The amendment would also allow existing venture companies to pursue crypto-related businesses.
"The recognition of innovative, business-viable Virtual Asset Service Providers (VASPs) as venture companies … will revitalize and broaden the venture ecosystem and accelerate the growth of the virtual asset industry," the ministry wrote in its notice.
Such a move aligns with the latest initiatives from South Korea's pro-crypto President Lee Jae Myung, who was elected last month.
One of Lee's main initiatives, the institutionalization of Korean won-based stablecoins, is gaining momentum after a ruling party lawmaker spearheaded a new legislation on the subject shortly after Lee's election. Major payment services firms and banking institutions in the country have rushed to trademark stablecoin ticker symbols in recent weeks.
Lee also seeks to lift the existing ban on crypto exchange-traded funds, while the country's main financial regulator is separately working on gradually lifting its ban on institutional crypto trading.
Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM Hong Kong time on July 9, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.44 trillion US dollars, witnessing a decrease of 2.2% compared to yesterday; the total trading volume is 81.41 billion US dollars, marking a decline of 7.88% from the previous day.
According to sosovalue, the price of BTC is 108,780 USD, an increase of 0.524% from yesterday. The market cap of BTC is 2.16 trillion USD, accounting for 62.8% of the total market cap; BTC's 24-hour trading volume is 21.81 billion USD, making up 26.8% of the total trading volume.
The price of ETH is 2,628.1 USD, up 2.97% from yesterday; the market cap of ETH is 317.25 billion USD, representing 9.22% of the total market cap; ETH's 24-hour trading volume is 16.24 billion USD, comprising 19.9% of the total trading volume.
The combined market capitalization of BTC and ETH accounts for 72.02% of the total cryptocurrency market cap, and their combined trading volumes constitute 46.7% of the total trading volume.
According to SoSoValue data, Bitcoin spot ETF saw a total net inflow of 80.08M USD yesterday (Eastern Time, July 8th).
The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of 66.81M USD, and the total historical net inflow of IBIT currently stands at 52.88B USD.
The second highest was Grayscale Bitcoin Mini Trust ETF BTC, with a daily net inflow of 4.82M USD, and the total historical net inflow of BTC currently stands at 1.48B USD.
As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 136.75B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 6.33%. The historical cumulative net inflow has reached 49.94B USD.
Source: https://sosovalue.com/zh/assets/etf/us-btc-spot
South Korea's Ministry of SMEs and Startups published a notice today stating its intention to amend the existing law on local startups to allow virtual asset trading and brokerage service providers to be registered as "venture companies," which would make them eligible for government benefits.
A "venture company" in South Korea refers to a small and medium-sized enterprise or a startup that has received an official "venture certification" from the government, qualifying it for specific benefits based on factors such as investment, R&D intensity, or technological appraisal.
The Special Act on Promoting Venture Businesses previously limited blockchain-based crypto asset trading and brokerage firms from earning that certification in 2018, placing it in the same category as pubs, nightclubs and gambling facilities.
Dunamu, the parent company of Upbit crypto exchange, faced an additional $18 million corporate tax burden in 2018 after its venture business designation and the corresponding government subsidies were revoked. The company filed a lawsuit to contest the tax but was unsuccessful.
The proposed amendment is expected to elevate the legitimacy of local crypto firms and make them eligible for government subsidies such as tax cuts and financial support. The amendment would also allow existing venture companies to pursue crypto-related businesses.
"The recognition of innovative, business-viable Virtual Asset Service Providers (VASPs) as venture companies … will revitalize and broaden the venture ecosystem and accelerate the growth of the virtual asset industry," the ministry wrote in its notice.
Such a move aligns with the latest initiatives from South Korea's pro-crypto President Lee Jae Myung, who was elected last month.
One of Lee's main initiatives, the institutionalization of Korean won-based stablecoins, is gaining momentum after a ruling party lawmaker spearheaded a new legislation on the subject shortly after Lee's election. Major payment services firms and banking institutions in the country have rushed to trademark stablecoin ticker symbols in recent weeks.
Lee also seeks to lift the existing ban on crypto exchange-traded funds, while the country's main financial regulator is separately working on gradually lifting its ban on institutional crypto trading.