Trump Imposes New Tariffs
President Trump imposed 25% tariffs on products from India and 15% on products from Japan. It was also announced that certain semiconductors would be 100% taxed. These decisions are seen as part of a strategy to reduce the trade deficit. However, the semiconductor industry, particularly in Southeast Asia, could be negatively affected, as many countries’ products could lose their competitiveness.
Meanwhile, China’s exports rose 7.2% in July, exceeding expectations. China saw strong growth at a time when its manufacturers were rapidly shipping goods ahead of the upcoming tariff agreement. However, despite the impact of the new tariffs, Asian markets were bullish, with investors reassured by the prospect of a US interest rate cut. Additionally, a potential meeting between Trump and Putin has raised hopes for diplomatic developments regarding the war in Ukraine.
Ethereum Transaction Volume Nears Record Level
Ethereum processed a total of 3.6 million transactions on Monday and Tuesday this week, with the number of daily transactions reaching 1.87 million, very close to the record high of 1.96 million set in January 2024. This increase is primarily driven by platforms like stablecoins (USDC, Tether) and decentralized exchange Uniswap. Furthermore, new meme coin trading and token creation activity on Ethereum’s Layer-2 networks has also reinforced this increase.
Market analysts consider the increase in Ethereum’s share of the DeFi ecosystem to 59%, reaching a total value of $137 billion, a positive development. However, Gherghelas is unsure whether this increase is sustainable. If confidence and growth in Ethereum continues, particularly driven by major macroeconomic events in 2026, the increased credibility and sectoral developments could be quite positive for areas like lending.
Bitcoin Volatility Drops to October 2023 Levels
Bitcoin’s volatility fell to October 2023 levels, according to the 30-day implied volatility indicator. Prices were stuck between $110,000 and $120,000, with volatility falling to 36.5%. This suggests a decrease in options trading and a decrease in investor demand for hedging. Unlike its previous volatility, which rose in line with price movements, Bitcoin has adopted a more stable market structure.
Recently, the relationship between BTC’s volatility and price movements has shifted, and it is now seen rising with low volatility, similar to Wall Street dynamics. This suggests that Bitcoin is keeping pace with broader market trends in this evolving landscape, particularly driven by derivatives.
Trump-Linked Crypto Miner American Bitcoin Poised to List on Nasdaq
Gryphon Digital Mining (GRYP) shareholders have begun voting on a proposed merger with Hut 8’s subsidiary, American Bitcoin Corp. The merger would create a new crypto mining venture and, if shareholders approve, is expected to close in early September 2025. American Bitcoin is scheduled to trade on Nasdaq under the ticker symbol ABTC.
American Bitcoin was founded in March 2025 by Eric Trump and Donald Trump Jr. Hut 8 owns an 80% stake in the company, while the remaining 20% is held by American Data Centers, owned by the Trump sons. The company aims to accumulate a strategic Bitcoin reserve and, with this goal, raised $220 million by selling shares to acquire Bitcoin and mining equipment.
SBI Holdings to Launch First Crypto ETFs in Japan
SBI Holdings, one of Japan’s major financial holding companies, announced plans to launch its first crypto exchange-traded funds (ETFs) focused on Bitcoin and XRP on the Tokyo Stock Exchange. These ETFs will provide investors with direct access to Bitcoin and XRP and will trade against traditional financial instruments. SBI Holdings is awaiting regulatory changes by Japan’s Financial Services Agency (FSA) before launching these ETFs.
To capture the growing demand for digital asset management, SBI aims to increase institutional adoption of digital assets in Japan’s regulated investment market by introducing products such as Bitcoin, XRP, and digital gold ETFs. SBI’s move sheds light on Japan’s ongoing process to legalize crypto ETFs, which are subject to stringent regulations like traditional securities.
DeFi Rises After SEC Decision on Liquid Staking
The SEC clarified that liquid staking protocols are not subject to securities laws, leading to a 4.5% surge in governance tokens like Lido’s LDO token and a 10.5% surge in Rocket Pool’s RPL token. This announcement was met with widespread approval by the DeFi community, with total liquid staking TVL remaining steady at $67 billion, and Lido holding 47% of the market at $31.7 billion.
The SEC’s regulatory clarity strengthens confidence in decentralized staking infrastructure, while industry leaders state that this decision could pave the way for institutional investments by ensuring the legal security of decentralized staking systems.
Tokenized Stocks Surge 220% in July, Reminiscent of the DeFi Boom
Tokenized stocks surged 220% in July, demonstrating the high demand for blockchain-based financial products and the potential to accelerate the integration of traditional assets into the on-chain world. By the end of July, the total market capitalization of tokenized stocks reached $370 million, most of which belonged to Exodus Movement (EXOD) stocks.
Tokenized stocks are experiencing growth reminiscent of the early DeFi (decentralized finance) boom. In this process, tokenized stocks traded on blockchain represent the beginning of a new era in financial markets. If tokenized stocks capture a 1% share of the global equity market, their market capitalization could surpass $1.3 trillion, outpacing the DeFi market by a factor of eight.
BitBridge to Go Public as a Bitcoin Treasury Firm and Launch BTC-Backed Loans
BitBridge, a firm focused on building a strong Bitcoin reserves and utilizing Bitcoin as a strategic asset, plans to go public under the ticker symbol BTTL at the end of Q3 and subsequently list on NASDAQ. The company is a subsidiary of Green Mountain Merger Inc. Following its merger with BitBridge, the company introduced a loan product called Bitcoin Respect Loan, which offers low-interest, multi-year loans secured by Bitcoin.
Unlike other Bitcoin treasury companies, BitBridge has no legacy business operations and aims to invest only in Bitcoin-focused startups. The company aims to attract long-term investment and expand the Bitcoin economy with its innovative lending strategy. BitBridge also plans to sponsor a college football team and launch an educational podcast hosted by CEO Paul Jaber.
BITCOIN(BTC)
Bitcoin is trading at $114,680, down 0.28% as of this morning. Bitcoin, which is close to the important support zone at $113,827, could move towards $115,804 and $118,175 if it manages to stay above this level. However, if it falls below the $113,827 level, the $111,924 and $110,507 levels could be monitored as important support areas.
Bitcoin’s price action is currently trading within a narrow channel. Although approaching the upper boundary of this channel creates the potential for an upside break, a close below the $113.827 level could cause the price to pullback lower.
ETHEREUM(ETH)
ETH is priced at $ 3,690 as of the morning hours with a 0.19% gain in value. If the price stays persistently above the $ 3,671 level, the rise can be expected to continue and higher levels can be reached by climbing above the $ 3,756 level. If ETH breaks this level, it has the potential to move towards the $ 3,867 and $ 3,978 levels. However, if the price breaks below the $3,671 level, it can be expected to pullback to the $3,544 and $3,452 levels, which can act as support.
RIPPLE(XRP)
XRP is priced at $ 3.00 with a 0.49% gain as of the morning hours. If XRP, which is close to the short-term resistance level at $ 3.0519, stays above this level, the $ 3.1506 and $ 3.3976 levels can be followed as important resistance points. However, if the price fails to sustain above the $3.0519 level, the $2.9162 and $2.8335 levels may act as important support levels if the price pulls back. Below these supports, the $2.7495 and $2.6537 levels may come to the fore.
AVALANCHE(AVAX)
AVAX is trading at $22.22 as of the morning hours with a 0.04% loss in value. The $22.02 level below the current price stands out as a strong support point. In case of a decline below this level, a pullback to $21.43 is possible.
On the other hand, the $22.86 level is watched as a critical resistance point. If it stays above this level, a rise towards $ 23.50 and then $ 24.75 may occur.
SOLANA(SOL)
SOL is trading at $169.09 as of the morning hours with a loss of 0.62%. Support levels below this level can be watched at $167 and $162. If the current price continues to stay above these support levels, the $173.71 and $177 resistance levels can be tested. If the price breaks the $177 level, $184.95 appears to be a significant resistance level.
