While the market is consolidating, regulatory and investment activity is gaining momentum. The European Union plans to revise the MiCA regulation, DeFi platform Zapper is winding down its business, and venture capital giant Paradigm has raised massive funds at the intersection of cryptocurrencies and artificial intelligence. Let's break down the key events of the morning of July 9.
Market: sideways movement without surprises
Bitcoin (BTC) started the day with sideways movement. As of 07:35 Moscow time, the asset is trading around $62,338. Over 24 hours, the low was $61,492 and the high was $62,885. Ethereum (ETH) is also showing consolidation, holding near the $1,740 mark.
In the top 10 by market cap, the best daily performance is from BNB (+0.21%), and the best weekly performance is from Ethereum (+6.63%). The biggest losses over 24 hours are from Solana (-0.87%), and over the week from Dogecoin (-0.98%). In the top 100, Arbitrum stands out with a 9.59% daily gain, while the weekly leader is DeXe (+25.05%). On the downside are Jupiter (-6.99%) for the day and Audiera (-20.73%) for the week.
Zapper exits: DeFi analytics loses a player
The DeFi analytics platform Zapper has announced its closure. The website, mobile app, and API services will cease operations on August 3. The project, founded in 2019, lasted seven years and received support from billionaire Mark Cuban in 2021. The official reason is a drop in demand, although the statement only hinted at this. Zapper was used by traders to track token prices, monitor DeFi trends, and connect wallets.
Paradigm: $1.2 billion for AI and crypto technologies
Venture capital firm Paradigm has raised $1.2 billion for its fourth fund. The funds will go towards investments in artificial intelligence, robotics, and related cutting-edge fields, while the focus remains on cryptocurrencies. Previously, Paradigm raised over $4 billion across three funds specializing in crypto. Among their notable investments are the perpetual contracts exchange Hyperliquid and the prediction market platform Kalshi.
Europe prepares a response to GENIUS: MiCA awaits reform
European Union officials plan to revise the MiCA regulation. The reason is the enactment of the U.S. GENIUS law, which regulates stablecoins. European regulators intend to expand the scope of the rules, including to companies outside the EU that issue stablecoins. The updated standards will be reviewed in 2027. This is a direct response to pressure from the U.S., forcing the EU to clarify how to regulate American stablecoin issuers in the European market.
My opinion: The closure of Zapper is a worrying signal for the DeFi sector. Even projects with serious backing are not immune to a market downturn. At the same time, the influx of capital into Paradigm confirms that institutional investors see long-term potential in the convergence of cryptocurrencies and AI. The MiCA reform is a logical step for the EU amid the global regulatory race, but its implementation will take years, leaving room for maneuver for both issuers and traders.