US House of Representatives Moves to Final Vote on Major Crypto Bills
The US House of Representatives has passed a preliminary procedural vote to advance three major crypto legislation bills—the GENIUS, CLARITY, and Anti-CBDC bills—to a final vote. The move, which passed 217-212 late Wednesday night, revives previously rejected bills.
The GENIUS Act aims to create a federal regulatory framework for stablecoins and passed the Senate last month. It could be submitted to President Donald Trump by the end of the week. The other two bills are the CLARITY Act, which would regulate the cryptocurrency market in general, and the Anti-CBDC bill, which would ban the direct issuance of central bank digital money (CBDC) to individuals. This week, in particular, is being referred to as “Crypto Week,” and the passage of these laws could mark a historic turning point in US cryptocurrency regulation.
The Largest US Banks Are Preparing to Issue Their Own Stablecoins
Leading US banks such as Bank of America, Citibank, JPMorgan Chase, and Morgan Stanley are preparing to launch their own stablecoin projects. This development comes just after cryptocurrency bills that include stablecoin regulations, such as the GENIUS Act, were advanced in the House of Representatives. Bank of America CEO Brian Moynihan stated that the bank is making serious preparations for its stablecoin work, but that demand is not yet high enough.
Citigroup CEO Jane Fraser announced that they will issue a “Citi stablecoin,” while JPMorgan and Morgan Stanley stated that they are closely monitoring developments in the stablecoin space. This move by the banks may accelerate further as the legal framework for crypto assets in the US becomes clearer. If the relevant bills are passed, the use of stablecoins in the financial system will officially be paved.
Record Inflow into Spot Ether ETFs
Wednesday’s record net inflow of $726.6 million into spot Ether ETFs triggered both institutional interest in Ethereum and a surge in the altcoin market. With these inflows, led by BlackRock and Fidelity, the total holdings of spot ETH ETFs in the US surpassed 5 million ETH, reaching 4% of the circulating supply. These purchases show that the ETFs have accumulated 107 times the daily ETH supply.
ETH rose more than 7% in the last 24 hours to $3,346, while major altcoins such as Solana, XRP, and Dogecoin also saw strong increases. Institutional firms have also accelerated their ETH purchases; In the last eight days alone, SharpLink Gaming purchased $343M ETH, while World Liberty Financial purchased $5M. This strong institutional demand increases Ethereum’s market dominance, while anticipating a decline in Bitcoin’s dominance, suggests that altcoin season may gain momentum.
PayPal’s PYUSD Stablecoin Winks at Arbitrum, ARB Price Rises
Arbitrum’s native token, ARB, gained 7.7% after appearing among the networks supporting PayPal’s PYUSD stablecoin. It’s noteworthy that Arbitrum is listed among the networks supporting PYUSD, alongside Ethereum and Solana, in PayPal’s official cryptocurrency terms of use. While an official integration hasn’t been announced yet, this development has generated anticipation among investors.
PYUSD is issued by Paxos and is already active on Ethereum and Solana. Arbitrum’s addition to the list strengthens the possibility that the stablecoin could soon be used on the network. Robinhood’s selection of Arbitrum for its tokenized stock project also highlights the network’s institutional interest.
Strategy Breaks Record with $128.4 Billion Market Cap
The company, led by Michael Saylor and rebranded from MicroStrategy to “Strategy,” reached an all-time high of $128.4 billion on Wednesday. Around the same time, Bitcoin also hit an all-time high, exceeding $122,000. According to Nasdaq data, Strategy shares closed the day up 3% at $455.90.
Strategy is the world’s largest institutional holder of Bitcoin with 601,550 BTC, equivalent to 2.86% of the total supply. The company’s average cost per BTC is $71,270. Interestingly, Vanguard, which previously called Bitcoin an “immature asset class,” is now Strategy’s largest shareholder.
Pakistan and El Salvador Sign Historic Bitcoin Partnership
Pakistan and El Salvador signed their first economic cooperation agreement on Bitcoin and crypto assets. Bilal bin Saqib, Chairman of the Pakistan Crypto Council, met with El Salvador President Nayib Bukele in San Salvador to discuss Bitcoin mining, energy use, strategic reserves, and education. Pakistan is looking to leverage El Salvador’s experience since it adopted BTC as legal tender in 2021.
This cooperation could reshape the place of developing countries in the digital finance world. El Salvador holds 6,239 BTC, while Pakistan has announced plans to establish a Strategic Bitcoin Reserve. Despite pressure from the IMF, both countries appear determined to use crypto assets as economic tools.
US Marshal Service’s $3.44 Billion Bitcoin Assets Revealed
The US Marshal Service’s holdings of approximately 28,988 BTC were revealed through a Freedom of Information (FOIA) request filed in March 2025. This amount corresponds to approximately $3.44 billion at its current market value. While the published official documents list the cases to which the BTCs belong in detail, some information has been censored for security and legal reasons.
The USMS is known for selling seized digital assets at auction in the past. However, no sales have been announced recently. Therefore, the BTCs in question are believed to still be in government hands. Journalist L0la L33tz also stated that she will file a new FOIA request to learn whether these BTC are being managed through Coinbase Prime.
Tether Prints $2 Billion in USDT, Supply Reaches $160 Billion
Tether, the world’s largest stablecoin issuer, minted $2 billion worth of new USDT on the Ethereum network on July 16. Company CEO Paolo Ardoino explained that these transactions were not put into circulation directly but were carried out for “inventory replenishment” purposes. $1 billion of the newly minted tokens were sent to exchanges, which is seen as a sign of increasing trading volume in the crypto markets.
Tether’s total USDT supply thus surpassed $160 billion, reaching an all-time high. The company printed $4.4 billion worth of USDT in the past month. Ardoino described this growth as an indicator of the need for liquidity and stability that USDT provides in emerging markets. Tether also noted that, with over $127 billion in US Treasury bond holdings, if it were a country, it would be the 18th largest creditor to the US.
14-Year-Old Bitcoin Whale Moves $4.7 Billion Worth of BTC to New Wallet
A Satoshi-era Bitcoin whale holding 80,000 BTC from 2011 has moved a second batch of 40,192 BTC to a new wallet. The current value of this transfer is approximately $4.77 billion. Recently, the same whale transferred the first 40,009 BTC to Galaxy Digital, and the company sent some of these BTC to exchanges. It is rumored that these moves may have been made for sales purposes.
After remaining inactive for 14 years, this giant whale made its first transaction on July 4, 2025. The Bitcoins he acquired for just a few hundred dollars in 2011 are now worth billions of dollars. The whale’s identity is unknown, but his movements are being closely monitored. Satoshi Nakamoto remains the largest BTC holder and has not made any transfers to date.
Dubai Migrates Land Registry Records to XRPL
Ripple has signed its first major custody agreement in the United Arab Emirates (UAE) by partnering with the Dubai Land Department (DLD). The agreement aims to digitize real estate deeds and move them to the XRP Ledger (XRPL). Ripple provides enterprise-grade secure custody infrastructure in this process, while the local partner provides Ctrl Alt application support. The project is a historic step in the Middle East, as it marks the first time a public institution in the Middle East has moved its land registry records to a public blockchain.
Ripple’s agreement is seen as a key part of the company’s growth strategy in the Middle East. The company previously held a blockchain payment license from the Dubai Financial Services Authority (DFSA) and has partnered with local financial institutions such as Zand Bank and Mamo. The pilot phase of the project has begun, and Ripple’s stablecoin, RLUSD, has also received approval for use in the DIFC. These developments position Ripple as a key player in the region’s digital asset infrastructure.
————————————————————————————————————
BITCOIN (BTC)
Bitcoin is trading at $118,651, up 0.9% as of morning hours. The price continues its upward movement, holding above the $115,896 support. It is currently priced in the intermediate resistance area at 118,775.
In the continuation of the upward movement, the $120,510 and then the $123,000 band stand out as important resistance areas. In case of a possible downward movement, the $115,896 level can be watched as the first support level. Below this level, the $111,924 – $110,507 range is a strong support zone.
ETHEREUM(ETH)
ETH is priced at $3,440 as of the morning hours with a 1.88% gain in value. The price showed a strong rise by breaking through the $3,285 resistance and is currently trading at the intermediate resistance at $3,434.
In the continuation of the upward movement, the $3,535 level can be followed as the next important resistance. In case of a possible pullback, the $3,285 and $3,165 levels can be watched as support. Below these levels, $3,031 support draws attention.
RIPPLE(XRP)
XRP is priced at $3.1525 with a 3.91% gain as of morning hours. The price continued its upward move by breaking the $3.0451 resistance and is currently just above the horizontal resistance at $3.1496. If this region breaks, the $ 3.2449 level can be watched as the next target.
In case of possible pullbacks, $ 3.0451 stands out as the first support level, while in case of deeper corrections, $ 2.9420 and $ 2.8501 levels can be watched as support.
AVALANCHE(AVAX)
AVAX is trading at $ 22.71 with a 0.22% gain as of the morning hours. The price has entered the resistance band located between $ 22.59 and $ 23.00. This region should be watched carefully as it has worked as a strong sales region in the past.
If the upward movement continues, the resistance at $ 23.91 will come to the fore, while the $ 22.59 level can be followed as the first support in the event of a possible pullback. If it declines below this level, $21.52 and then the $19.86-$19.50 range can be retested.
SOLANA(SOL)
SOL is traded at $ 172 levels as of the morning hours with a 0.53% loss in value. Although an important resistance was tested by rising to $ 178.56 yesterday, the price has retreated to the resistance band between $ 168.22 and $ 173.66 with sales from this region.
If this region cannot be sustained, the $ 168.22 support will be of critical importance. If it falls below this level, the $164.12 and $157.75 levels can be followed, respectively.
On the other hand, the $173.66 level needs to be overcome with volume in order for the upward movement to continue. In this scenario, the 178.56 resistance may come to the fore again and then the $ 185 level may be targeted.
