The morning of July 10th greets the crypto market with a positive sentiment. Bitcoin (BTC) started the day with confident growth, reaching the $64,044 mark (approximately 4.86 million rubles at the current exchange rate). Over the past 24 hours, the asset has fluctuated between $62,190 and $63,992, demonstrating bullish momentum. Ethereum (ETH) is also trading in the green zone, holding above $1,774 (approximately 134,700 rubles).
In the top 10 by market capitalization, there is near-unanimous optimism: all assets are in the green over the day. The growth leader is Bitcoin itself (+2.93%), while over the week, TRON shows the best result (+4.51%). At the same time, Solana (-1.99%) and Dogecoin (-0.67%) remain in the red over the week. In the broader top 100, DeXe stands out, showing remarkable growth of 16.48% over the day and 46.22% over the week. The worst results over the week belong to Audiera (-27.50%).
Polymarket Prepares to Launch Margin Trading in the US
The prediction market platform Polymarket has taken an important step towards expansion in the US. A related entity has filed an application with the National Futures Association (NFA) to register as a Futures Commission Merchant (FCM). This will allow users to place bets on events by depositing only a portion of the required capital — that is, trading with leverage. Full launch will also require approval from the CFTC regulator. Interestingly, Polymarket's competitor, the Kalshi platform, already received similar NFA approval back in March.
Zcash Network Prepares for Ironwood Hard Fork to Fix a Bug
The Zcash team has scheduled the long-awaited network update, named Ironwood, for July 28th. The update aims to fix a critical bug discovered in May in the main Orchard private transaction pool. Ironwood will close the current Orchard pool, block new activity in it, and create a new private pool. All funds leaving the old pool will pass through an accounting checkpoint to determine whether fake ZEC tokens were created due to the bug. The update was originally planned for July 21st but was delayed by a week due to concerns that bridges, mining pools, and wallets would not be ready in time.
Bitwise Analysts Warn of a "Quiet Revaluation" of DeFi
Experts at Bitwise have drawn attention to the unusual resilience of tokens in the decentralized finance (DeFi) sector. In June, Bitcoin fell by about 22%, while the Bitwise index tracking major DeFi protocols dropped by only 4%. This is an anomaly: typically, DeFi tokens are more volatile than Bitcoin. Analysts believe this could indicate a "quiet revaluation" of the sector. Protocols such as Morpho and Jupiter have attracted the attention of major institutions, changing market dynamics. Notably, the total value locked (TVL) in DeFi has fallen by almost 40% since the beginning of the year — from approximately $115 billion in January to just over $70 billion, making the current price resilience even more remarkable.
My comment: DeFi's resilience amid Bitcoin's decline is indeed a strong signal. The market seems to be starting to reassess the fundamental value of protocols, rather than simply speculating on memes. However, the 40% drop in TVL indicates that capital is not yet in a hurry to return. This trend should be watched very closely.