MEXC Daily Highlights (July 21)｜Ethereum Market Cap Rises to 28th Globally, White House to Release First Crypto Policy Report

Jul 21, 2025MEXC

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1. Market Overview

According to MEXC data, Bitcoin rose to 118,856.87 USDT and is now reported at 117,100,00 USDT, with a 24-hour increase of -1.32%.

MEXC platform USDT standard perpetual contract trading volume of the top ten heat map .

ETHUSDT , BTCUSDT , SUIUSDT , DOGEUSDT , and SOLUSDT rank in the top five. For more information about Bitcoin prices and macroeconomics, please click [MEXC Market] to view.

2. Industry Data

2.1 Ethereum Market Value Exceeds $456 billion, Rises to 28th in Global Asset Market Value Ranking

8Marketcap data shows that the market value of Ethereum has exceeded $456 billion, surpassing the asset management giant Vanguard Group for the first time, ranking 28th in the global asset market value.

2.2 Cryptocurrency panic and greed index remain high, and the market is still in a "greedy" state

According to Alternative data , today's crypto panic and greed index is 71, yesterday it was 72 (last week's average was 74), and the market sentiment is still in a "greedy" state. Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market research (15%) + the proportion of Bitcoin in the entire market (10%) + Google buzzword analysis (10%).

3. Industry News

3.1 Trump signs the GENIUS Act, the first federal regulatory framework for stablecoins in the US

According to The Block US President Donald Trump has officially signed the US Stablecoin National Innovation Guidance Act (GENIUS Act), marking the first federal regulation related to cryptoassets. The act requires stablecoins to be 100% held in US dollars or equivalent Current Assets, and annual audits of publishers with a market capitalization of more than $50 billion will be conducted. Regulatory guidelines for overseas publishers will also be established. Executives from Circle, Tether, Coinbase and others attended the signing ceremony, and Trump said the move will "establish the US's dominant position in global finance and crypto technology."

3.2 The White House plans to release its first encryption policy report on July 22

According to Cointelegraph's report , in accordance with Executive Order 14178, the White House will release its first crypto policy report on July 22 this week. The report will be drafted by the President's working group, focusing on key areas such as consumer protection, bank accessibility, and regulatory paths for digital assets, providing the first comprehensive framework for US crypto asset regulation.

3.3 Trump praised the Coin Center executive director for providing the best explanation of the Bitcoin concept to date

US President Trump posts on Truth Social Peter Van Valkenburgh, executive director of Coin Center, a non-profit organization focused on cryptocurrency policy issues, praised the excellent explanation of Bitcoin in Congress and called it "the best explanation of Bitcoin concepts to date."

4. Analyst Insights

4.1 BlackRock's Ethereum ETH staking approval deadline should be April next year, but it may be approved as early as Q4 this year

Bloomberg ETF analyst James Seyffart said The Ethereum ET staking options submitted by multiple institutions "still need time to complete". The final deadline for early applications is late October 2025, but the approval deadline for BlackRock's Ethereum ETH staking application is around April 2026 (but we believe it may be approved as early as the fourth quarter of 2025). However, VanEck, 21Shares, and Canary Capital have urged the US Securities and Exchange Commission to consider adopting a first-in, first-out approval process, rather than wanting to "batch approve" with BlackRock, which submitted the application later.

4.2 In the short term, counterfeit products or sharp pullback, volatility accompanied by buying opportunities

According to Blockchain.News reports , analyst Michaël van de Poppe said that counterfeit products have recently risen rapidly and become more volatile. In the short term, there may be a "drastic adjustment", but this pullback may be a "buying opportunity" before the mid-term upward recovery.

5. Funding Updates

5.1 Delin Holdings plans to invest 60 million Hong Kong dollar in Hong Kong technology company Fulong to explore the stablecoin market

According to the official announcement of HKEX, Delin Holdings announced that it has signed a non-legally binding term sheet with Hong Kong technology company Fulong Consulting Co., Ltd. The group will conduct strategic cooperation and stock swap between the group and Fulong. As part of this strategic move, the company will invest in Fulong through stock swap for HKD 60 million to explore the stablecoin market. Fulong will apply for a Hong Kong stablecoin license and, after obtaining the license, jointly promote the application and business cooperation of stablecoins with Delin Holdings.

6. Market Trends

6.1 Ethereum launches 10th anniversary commemorative The Torch NFT, planning to open for minting on July 30th

Ethereum announced on the X platform Launching "The Torch" NFT to pay tribute to the people and values that shaped the development of Ethereum in its first decade, and will help the future construction of Ethereum. It is reported that this The Torch NFT will be symbolically passed between wallets and destroyed to commemorate the Ethereum 10th anniversary. In addition, everyone can mint a commemorative NFT on July 30th.

6.2 Bitcoin Core developers fix 5-year-old disk fill vulnerability

According to Protos' report , the Bitcoin Core development team fixed a disk filling vulnerability that had plagued full-node operators for five years this month. The vulnerability allows attackers to force node hard drives to continuously write redundant data through malicious log instructions (such as LogPrintf, LogInfo, LogWarning, or LogError), which seriously affects mechanical hard drive nodes and even causes performance degradation of flash devices.

7. Project Updates

1) Bullish, the parent company of CoinDesk exploring IPO listing, is suspected of facing financial challenges

2) Bithumb plans to suspend MultiverseX (EGLD) deposits and withdrawals on July 24th

3) Huajian Medical Establishes US Wholly-Owned Subsidiary and Launches US Stablecoin License Application

4) Jack Dorsey's Block will be included in the Standard & Poor 500 index on July 23

5) USDe supply exceeded 6 billion, a new high

6) Giants Protocol is seeking next round of financing and cooperation with multiple US dollar funds and Listed Companies

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