The morning of July 9 brought a series of landmark events that set the direction for the industry in the coming quarters. While the market shows sideways movement, institutional players are reassessing strategies, and regulators are preparing for new challenges. Let's break down the key points.
Market in a Sideways Trend: Leaders and Laggards
Bitcoin (BTC) started the day without sharp movements, fluctuating in a narrow range of $61,492 – $62,885. At the time of writing this review, the asset is trading around $62,338. Ether (ETH) is also showing a flat trend at the $1,740 level. In the top 10 by market cap, the best daily result is from BNB (+0.21%), while the weekly leader is Ethereum (+6.63%). The biggest drop in 24 hours is from Solana (-0.87%), and over the week, from Dogecoin (-0.98%).
Among the top 100, Arbitrum stands out with a 9.59% rise in 24 hours, while DeXe added 25.05% over the week. The worst result in 24 hours is from Jupiter (-6.99%), and over the week, from Audiera (-20.73%).
Zapper Shuts Down: End of an Era for DeFi Analytics
The DeFi analytics platform Zapper has announced it will cease operations. The project, founded in 2019 and backed by billionaire Mark Cuban in 2021, will close its website, mobile app, and API services on August 3. No official reason has been given, but it is clear that the decline in demand for data aggregator services during the bear market has become critical. Zapper joins the sad list of crypto services that did not survive the downturn in activity.
Paradigm: $1.2 Billion for AI and Crypto
Venture capital firm Paradigm has raised $1.2 billion for its fourth fund. Unlike its previous three funds, which were focused exclusively on cryptocurrencies, the new fund will also invest in artificial intelligence, robotics, and other advanced technologies. This is a signal: the boundaries between the crypto industry and adjacent high-tech sectors are blurring. Among Paradigm's past successful investments are the perpetual contracts exchange Hyperliquid and the prediction market platform Kalshi.
EU to Revise MiCA Due to US GENIUS Act
European Union officials plan to revise the MiCA (Markets in Crypto-Assets) regulation in 2027. The reason is the entry into force of the US GENIUS Act, which regulates stablecoins. European regulators intend to expand the scope of the rules, particularly regarding companies outside the EU that issue stablecoins. This is a logical response to intensifying competition: the US law forces Europeans to clearly define how to regulate issuers from the US operating in the EU market.
My Comment: The closure of Zapper is a wake-up call for the entire DeFi tools sector. The market is consolidating, and only projects with a sustainable business model will survive. At the same time, the influx of $1.2 billion from Paradigm into AI and related technologies confirms that big capital sees the future in cross-disciplinary solutions, where crypto is just one element.