Ondo and Pyth Surge as BTC, ETH Slip; Major PUMP Token Unlock Today

I. Crypto Market Overview

Key Takeaways

Macro Environment

June US CPI rose 3.5% YoY, sharply reducing July Fed hike odds to 10% and supporting crypto risk assets. The Bank of Korea raised rates, narrowing the gap with the US and potentially impacting global capital flows. The US Senate delayed the CLARITY Act vote, prolonging regulatory uncertainty for digital assets.

Crypto Market

The crypto market saw mixed performance over the past 12 hours. Bitcoin (BTC) fell 1.0% to $64,602, while Ethereum (ETH) dropped 2.1% to $1,888.97, both pressured by ETF outflows and risk-off sentiment. ONDO (ONDO) surged 17.3%, PYTH Network (PYTH) gained 11.1%, and MORPHO (MORPHO) rose 3.9%, driven by DeFi adoption and protocol integrations.

Today's Outlook

Today, 57 billion PUMP tokens worth $86.49 million unlock across 121 wallets, marking a major token unlock event that may impact market liquidity and volatility.

Fear and Greed Index

90.00% Annual Percentile

35 Neutral

Total Crypto Market Cap

$2.21T

1.12%

Total Market Trading Volume

$68.64B

3.53%

Altcoin Season Index

0.00%

Quarterly Percentile

44 / 100

Total Futures Market Open Interest

2.05B

3.15%

Futures

392.12B

3.34%

Perpetuals

II. Industry Updates

Macro-economic Policies

The June US CPI rose 3.5% YoY, below expectations, sharply reducing the probability of a July Fed rate hike to 10%. This has supported Bitcoin and DEFI markets by easing immediate monetary tightening risks.

The Bank of Korea raised its benchmark rate by 25bps to 2.75%, narrowing the rate gap with the US to 1%. Continued tightening could strengthen the Korean won and impact global crypto capital flows.

Eurozone inflation eased to 2.8% in June, but the ECB maintains a cautious stance after its June rate hike. Persistent energy-driven inflation keeps the euro supported, influencing crypto market sentiment and EUR-denominated stablecoins.

US initial jobless claims fell to 208,000 last week, the lowest since May, signaling labor market strength. This data reduces recession fears and supports risk assets, including cryptocurrencies.

Canadian dollar remained stable after the Bank of Canada’s latest rate decision, reflecting limited monetary policy changes. This stability supports CAD-pegged stablecoins and cross-border crypto transactions.

Cryptocurrency Regulatory Trends

The U.S. Senate has delayed a vote on the CLARITY Act, prolonging regulatory uncertainty for digital asset firms and complicating compliance programs across the crypto industry.

Japan has enacted new legislation recognizing crypto as financial products, introducing insider trading rules, stricter enforcement, and laying the groundwork for lower taxes and future ETF listings.

Tanzania's central bank is preparing a regulatory framework for cryptocurrencies and stablecoins, signaling a shift toward FATF compliance and greater digital asset acceptance in the region.

Revolut has received in-principle approval from Dubai's VARA to offer crypto broker-dealer and exchange services, expanding regulated access for UAE users and strengthening Dubai's position as a crypto hub.

The Financial Action Task Force (FATF) has urged governments to accelerate crypto AML enforcement, highlighting that stablecoins accounted for 84% of illicit crypto transaction volume in 2025, increasing compliance pressure on issuers.

ONDO (ONDO): ONDO surged 17.56% in the past 24 hours, with trading volume reaching $285.9M. The rally is driven by strong DeFi demand and increased adoption of tokenized real-world assets, as well as ongoing partnerships with major financial institutions.

PYTH Network (PYTH): Pyth Network rose 11.14% in the last 24 hours, with $33.17M in trading volume. The price increase is supported by growing integration of its oracle services across DeFi protocols and recent expansion of its price feed coverage.

MORPHO (MORPHO): MORPHO gained 3.95% over the past 24 hours, with $20.18M in trading volume. The uptick is attributed to increased user activity on its lending platform and positive sentiment around DeFi lending market efficiency improvements.

Smart Money Movements

A whale transferred 5,908 BTC worth $382.67 million after 8 years of dormancy, realizing a $283 million gain and drawing market attention.

A significant transfer of 267,714,624 USDC ($267.79 million) was made from Coinbase Institutional to Coinbase, indicating major stablecoin movement.

A whale purchased and withdrew 21,300 ETH valued at $40.95 million from Fidelity custody, signaling continued large-scale Ethereum accumulation.

US spot Bitcoin ETFs attracted $107.8 million in net inflows, while Ether ETFs saw $53.8 million, reflecting renewed institutional interest in crypto funds.

A newly created wallet deposited $10 million USDC to Hyperliquid to short $CXMT, with $3.8 million already shorted and $4.17 million in pending limit orders.

Events to Watch

Jul 16 (Thu)

PumpFun unlocks 57B PUMP tokens across 121 wallets, worth $86.49M; major token unlock event may impact market liquidity.

Jul 17 (Fri)

Binance Futures to launch five new USDT-margined TradFi perpetual contracts, expanding TradFi derivatives offerings.

Jul 22 (Wed)

Pi Network will upgrade to Protocol v25 and mainnet will move to Stellar Protocol v25, introducing privacy tools and smart contract potential.

III. Phemex Market Focus

New Listings

Jul 16: (KORU/USDT)

New futures trading pair KORUUSDT with linear USDT-margined and hedge mode support

Jul 13: (SKHY/USDT)

New futures trading pair SKHYUSDT with linear USDT-margined and hedge mode support

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