MEXC Daily Highlights (July 22): Ethereum Profit Addresses Hit New High, USDT Transfers Surge, Institutional IPOs Draw Attention

Jul 22, 2025MEXC

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1. Market Overview

According to MEXC data , the SOL highest rose to 204.72 USDT, now reported 203.56 USDT, 24-hour increase of + 3.45%.

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

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

SOLUSDT leads the list of popular trading pairs with a 2.19% increase. With the price of SOL back above 200 USDT, MEXC has launched the " Solana Ecological Month " event to give back to its users.

2. Industry Data

2.1 Over 90% of Ethereum addresses are profitable, reaching a new high since December 2024

According to on-chain analysis platform Sentora More than 90% of Ethereum addresses are currently profitable, setting a record high since December 2024. Due to the limited number of addresses building positions above the current price, there is relatively little on-chain resistance. The first significant resistance level appeared below $4,000, with about 2.39 million addresses holding unliquidated ETH in this range.

2.2 In the first half of 2025, the on-chain USDT transfer volume increased by about 120% compared to the full year of 2024.

Tether CEO Paolo Ardoino released a statement stating that USDT is growing rapidly globally. In the first half of 2025, the number of USDT on-chain transfers increased by 120% compared to the full year of 2024, of which 66% came from West Asia, the Middle East, and Africa.

3. Industry News

3.1 The first cryptocurrency report from the White House will be released by the end of this month

On July 22nd, crypto journalist Eleanor Terrett posted an update stating , "White House officials told me that the White House cryptocurrency report will be released to the public before the end of this month." The Trump administration's digital asset working group is accelerating preparations to submit its first important cryptocurrency policy report before July 22nd. This report is the result of months of collaboration between working group leaders David Sacks, Bo Hines, and senior officials from departments such as the Treasury, Commerce, Securities and Exchange Commission, and Commodity Futures Trading Commission, aiming to implement the Executive Order signed by President Trump in January to strengthen the leadership position of the US cryptocurrency field. The report is expected to include regulatory and legislative recommendations, but the specifics are not yet clear.

3.2 FTX applies for postponement of response as creditors object to freezing $470 million of overseas claims

According to Cointelegraph The FTX liquidation team has filed an extension application with the Delaware court to gain more time to respond to more than 90 creditor objections to its $470 million cross-border settlement plan. The plan plans to list 49 jurisdictions, including China, as "restricted areas" and suspend compensation payments to relevant creditors. FTX stated that this move is aimed at avoiding potential legal risks, especially the criminal liability that executives may face. Currently, Chinese creditors account for 82% of the claims (about 380 million US dollars). However, the plan has been strongly opposed. Weiwei Ji, a representative of Chinese creditors, said that hundreds of investors have organized collective rights protection. Another creditor, Sunil Kavuri, revealed that there are still about 1.40 billion US dollars in claims pending. The relevant hearing will be held this Tuesday.

4. Analyst Insights

4.1 Ethereum's rise marks the beginning of the blockchain Financial Services cycle

According to The Block Bernstein analysts said: "With the signing of the GENIUS Act by the US President, stablecoins have become legal digital cash. As the main infrastructure of stablecoins, Ethereum is entering its peak moment - ETH has risen by about 45% in the past two weeks." They further pointed out that this marks the beginning of a blockchain Financial Services cycle, rather than the traditional crypto boom-crash cycle.

4.2 Ethereum is about to break through 4000 dollars, short positioning surges

The Economic Times quoted market analysts : Ethereum ETF saw inflows of more than $3.20 billion in July and is currently in "one of the largest bearish squeezes in crypto history". The bearish positioning reached a new high, but the ETH price reversed and rose, forcing the bears to cover their positioning and further pushing up the price. In addition, institutional capital inflows, ETF demand, and whale holdings jointly pushed up ETH. Analysts predict that if ETH rises another 10%, the bearish positioning of about $1 billion may be liquidated, pushing the price above $4,000.

5. Funding Updates

5.1 Dynamix intends to merge with entity to form Ether Machine, plans to hold more than 1.50 billion USD ETH

According to the Wall Street Journal , Dynamix, a blank check company, is preparing to merge with another entity to form a new company called "Ether Machine", which plans to hold more than $1.50 billion worth of Ethereum (ETH). The core bet behind this plan is that the market will continue to prefer companies with heavy positions in cryptoassets under the Trump administration, which may bring more friendly cryptocurrency regulatory environments. Kraken and Blockchain.com will provide more than $800 million of equity stake financing for this transaction, priced at $10 per share.

5.2 Listed Company Profusa Signs 100 million USD Equity Stake Credit Agreement, Launches Bitcoin Treasury Strategy

According to Business Insider , Nasdaq-listed digital wellbeing company Profusa (stock code: PFSA) announced the signing of an equity stake credit agreement with Ascent Partners Fund LLC, intending to raise up to $100 million through publish Common Stock financing. The company stated that the net proceeds from financing will be used to purchase Bitcoin (which can also be used to repay debt), provided that the company's cash balance is higher than $5 million when the equity stake sale is executed. This agreement marks the official launch of Profusa's Bitcoin treasury strategy.

6. Market Trends

6.1 Crypto company BitGo submits IPO application in the US

According to Reuters , veteran cryptocurrency custodian platform BitGo Holdings has secretly submitted a draft registration statement to the US Securities and Exchange Commission, planning to make an initial public offering (IPO) of Class A shares. Following the listing of stablecoin publisher Circle on the New York Stock Exchange in June, this could be another large-scale US cryptocurrency listing. It is reported that secretly submitting IPO documents to the US Securities and Exchange Commission can allow companies such as BitGo to maintain the confidentiality of financial details during the publishing process.

6.2 US Bank: The Fed is not expected to cut interest rates this year, and the US economy will not fall into recession

According to Yahoo Finance US Bank predicts that despite market expectations of interest rate cuts, the US economy will avoid recession in 2025, and the Federal Reserve will not cut interest rates this year. The bank pointed out that strong consumer spending and rising commodity inflation indicate that the economy continues to be resilient, and mentioned that June retail sales data exceeded expectations. US Bank warned that politically motivated interest rate cuts could undermine inflation expectations and increase credit risks. Looking ahead, the bank expects a slight increase in unemployment claims, stable housing data, and a possible 11% drop in durable goods orders released on Friday.

7. Project Updates

1) Ethena Labs Announces $360 million PIPE Deal for StablecoinX to Establish ENA Treasury Company

2) MyStonks has reached a strategic cooperation with BIT to accelerate the deep integration of digital assets and traditional securities

3) MoonPay launches wallet function supporting TRON network

4) Sequans increased its holdings of 1264 BTC, bringing its current total holdings to 2317

5) WINkLink oracle officially supports USD1 price service, empowering TRON stablecoin ecological coin

6) The Ether Machine intends to go public through a commercial merger with NASDAQ Listed Company Dynamix

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• Why Choose MEXC Futures?Discover the unique advantages of trading Futures on MEXC and learn how to stay ahead in the derivatives market.
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