MEXC Exchange/Learn/Market Insights/Others/MEXC Daily Highlights(July 17) | Bitcoin Faces Short-Term Pressure, Ethereum Rises, Institutions Accelerate M&A and Stablecoin Deployment

MEXC Daily Highlights(July 17) | Bitcoin Faces Short-Term Pressure, Ethereum Rises, Institutions Accelerate M&A and Stablecoin Deployment

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Jul 17, 2025MEXC
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1. Market Overview

 
According to MEXC data, Bitcoin rose to 120,025.17 USDT and is now reported at 118,636.42 USDT, with a 24-hour increase of -0.37%


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


ETHUSDT , BTCUSDT , SUIUSDT , SOLUSDT , PEPEUSDT ranked in the top five, compared to the previous few days, PEPEUSDT heat has rebounded, once again entered the Top 5, more information about Bitcoin prices and macroeconomics, please click [MEXC Market] to view.

2. Industry Data


Ethereum broke through $3,400 in a short period of time this morning, and Bitcoin broke through $120,000 in a short period of time


On July 17th, according to MEXC market data, Ethereum broke through $3400 in a short time this morning, reaching a high of $3425, and is now quoted at $3345.48; Bitcoin broke through $120,000 in a short time, and is now quoted at $118,636.42.


2.2 Solana ecological Meme coin rises, BONK rises 30% in 24 hours


On July 17, according to MEXC market data , the Solana ecological Meme coin appeared a general rise, among which:

BONK rose 30% in 24 hours, now quoted at $0.000039
FARTCOIN rose 17.3% in 24 hours, now quoted at $1.48
POPCAT rose 11% in 24 hours, now quoted at $0.425
MEW rose 19.5% in 24 hours, now quoted at $0.00388
NOBODY rose 17.4% in 24 hours, now quoted at $0.0594
HOSICO rose 24.3% in 24 hours and is now quoted at $0.0516
ANI rose 106.3% in 24 hours, now quoted at $0.0459

3. Industry News



"Federal Reserve megaphone" Nick Timiraos posted on the X platform that if Trump tries to remove Federal Reserve Chairperson Powell, it may trigger a protracted confrontation. The Federal Reserve has independent workplace and security powers, and Powell may insist on staying in office until the court rules or the Senate confirms his successor.

3.2 Pakistan and El Salvador establish bilateral relations for the first time, focusing on cryptocurrency cooperation


According to Bloomberg , Pakistan and El Salvador have established bilateral diplomatic relations for the first time, placing cryptocurrency cooperation at the core of their relationship. According to a statement from the Pakistani Minister's Office, Bilal Bin Saqib, CEO of the Pakistan Cryptocurrency Commission and Special Assistant to the Prime Minister on cryptocurrency and blockchain, met with Salvadoran President Nayib Bukele in El Salvador to discuss a knowledge-sharing partnership. The meeting was held on July 16, 2025, marking the formal start of cooperation between the two countries in the cryptocurrency field.

3.3 Trump: Will issue a single tariff figure for 150 countries


According to Bloomberg , Trump may impose tariffs of 10% or 15% on smaller countries. The tariff policy on August 1st will be very significant. The current tariff level is just the beginning. A single tariff number will be issued for 150 countries.

4. Analyst Insights


4.1 US House of Representatives advances three major crypto bills, BTC sideways build-up short-term support still looks at $116,300


Bitunix analyst, published on the Followin platform suggested : BTC maintains range consolidation under the influence of favorable policies and economic uncertainty. If the US House of Representatives passes the relevant bill this week, it is expected to inject confidence into the market. Short-term support is still focused on $116,300, and short-term pressure is focused on $121,000. If the support is broken, it is recommended to exit and wait to avoid chasing highs.

4.2 If Ethereum (ETH) continues to rise, the probability of Bitcoin (BTC) dominance peaking is "99%".


According to Cointelegraph's report , cryptocurrency analyst Matthew Hyland stated that if the price of Ethereum (ETH) continues to rise and remains strong relative to Bitcoin (BTC), then Bitcoin's market dominance is highly likely to have reached its peak, with a probability of up to 99%.

5. Funding Updates


5.1 Talos Acquires Coin Metrics for Over $100 million


According to Fortune, Talos announced the acquisition of on-chain data company Coin Metrics for over $100 million, marking a major upgrade in its crypto infrastructure strategy. By integrating Coin Metrics' on-chain analysis tools and market data, Talos will build a full-process institutional platform covering transaction execution, asset management, and data analysis. The acquisition is supported by investors such as PayPal and a16z, reflecting the continuous growth of institutional demand for end-to-end solutions in the context of gradually clarifying regulations.


6.1 Strategy Market Value Reaches New High to $128.40 billion


According to The Block Michael Saylor's company, Strategy (formerly known as MicroStrategy), closed at a record high of $128.40 billion on Wednesday, the same week the price of Bitcoin broke through $122,000. Strategy now holds 601,550 bitcoins, with a market value of over $73 billion, accounting for 2.86% of the total supply of Bitcoin. The average purchase price of the company is $71,270 per coin, and the recent stock price has risen 36% in three months and 174% this year. Vanguard Group has become its largest shareholder, despite calling Bitcoin an "immature asset".

6.2 US Bank Plans to Launch Stablecoin, Waiting for the Right Time


According to Reuters , Brian Moynihan, CEO of US Bank, stated that they are preparing to launch stablecoins, but have not yet determined the specific time. He pointed out that as the second largest bank in the US, Bank of America believes that the field will "eventually take action" and is currently evaluating customer needs and the scale of fund flows, and may cooperate with other institutions. The main reason for the slow progress is the unclear regulations. At the same time, Sharon Yeshaya, CFO of Morgan Stanley, stated that they are closely monitoring the development of stablecoins, but it is still "too early".

6.3 The Trump family crypto project "WLFI token tradable" proposal has been voted on


According to the official page of the Trump family's crypto project World Liberty Financial , the "WLFI token tradable" proposal has ended voting and passed at 1:38 Beijing time. The goals of the proposal are as follows: to make WLFI tokens tradable, thereby achieving broader community governance participation through peer-to-peer trading or secondary markets; to promote the transition of the WLFI ecosystem from closed participation to open participation; to enhance the practicality and scope of the token; to initiate the next stage of community ownership and interaction; and to align long-term token incentives with the adoption and success of the protocol.

7. Project Updates


1) GMX: GLP's funds on Arbitrum have been fully recovered, and GMX V2 is not affected
2) Eclipse unveils token economics: 15% for airdrops and liquidity
3) Hyperion announces token economics: airdrops account for 5%, liquidity incentives account for 30%
4) PayPal plans to expand the PYUSD stablecoin to Arbitrum.
5) Pump.fun started to buy back PUMP, funded by fee income
6) Coinbase launches Base App, upgrading Coinbase Wallet to an integrated social and trading platform

MEXC has officially rolled out its 0-Fee Fest event, empowering users to significantly reduce their trading costs. With this initiative, users can truly save more, trade more, and earn more. By participating in the campaign, you'll enjoy ultra-low-fee trading on the MEXC platform while staying ahead of market trends and seizing fleeting investment opportunities the moment they arise. It's your gateway to smarter trading and greater wealth growth.

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