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As of July 12, 2025, the cryptocurrency market is experiencing significant developments, marked by record-breaking price surges, substantial institutional investments, and pivotal regulatory advancements.

Bitcoin Achieves New All-Time High

Bitcoin (BTC) has reached a new all-time high, surpassing $118,000. This surge is largely driven by increased institutional demand and substantial inflows into cryptocurrency exchange-traded funds (ETFs), which have exceeded $1 billion daily. The total assets under management for these funds, including those from major financial institutions, are approaching $144 billion.

Ethereum Sees Institutional Investment

SharpLink Gaming, a prominent player in the gaming industry, has acquired 10,000 ETH from the Ethereum Foundation in an over-the-counter deal valued at $25.7 million. This acquisition increases SharpLink's Ethereum holdings to 215,634 ETH, valued at over $550 million, solidifying its position as the largest publicly traded ETH holder.

Altcoin Market Highlights

Several altcoins have demonstrated remarkable performance:

• MemeCore (M): Leading the market with a 70.68% increase, reaching a current price of $0.77. This surge is attributed to heightened popularity on social media platforms.

• Story (IP): Experiencing a 41.78% rise, now priced at $4.88. The project has attracted significant institutional attention, driving its price upward.

• Stellar (XLM): Up by 29.86%, currently trading at $0.39. Its growth is linked to technological advancements in cross-border payments and potential institutional collaborations.

• Pudgy Penguins (PENGU): Increased by 21.39% to $0.23, driven by strong performance in the NFT market.

• XRP (XRP): Rising by 10.40% to $2.81, reflecting optimistic market expectations regarding its applications in the fintech sector.

Regulatory Developments

The U.S. Senate has passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, establishing a comprehensive regulatory framework for payment stablecoins. The bill mandates stringent standards for reserves, audits, and transparency for issuers, aiming to mitigate financial stability risks and protect consumers. The House of Representatives is set to consider the bill during the week of July 14.

Government Holdings and Strategic Reserves

The Royal Government of Bhutan has transferred 100.215 BTC, worth approximately $11.83 million, to Binance. Over the past 11 days, Bhutan has moved a total of 449.3 BTC ($50.15 million), reflecting strategic profit-taking amid Bitcoin's new all-time high.

In the United States, President Donald Trump signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve. This reserve is funded by the Treasury's forfeited bitcoin holdings, positioning the U.S. as the largest known state holder of bitcoin, with an estimated 200,000 BTC as of March 2025.

Market Liquidations and Trader Impact

The recent surge in cryptocurrency prices has led to over $1 billion in short position liquidations. Bitcoin and Ethereum shorts accounted for $678 million and $300 million, respectively. Binance's perpetual futures funding rate reached +0.01%, indicating heavy leveraged buying as Bitcoin crossed $118,000.

Security Incidents and Resolutions

The decentralized exchange GMX resolved a significant security breach, with the attacker agreeing to return stolen funds in exchange for a 10% bounty, estimated at $2.4 million of the $24 million exploit. This resolution aims to restore user funds and bolster GMX's security reputation within the decentralized finance (DeFi) sector.

Conclusion

The cryptocurrency market on July 12, 2025, is characterized by unprecedented price milestones, substantial institutional investments, and significant regulatory progress. These developments underscore the evolving landscape of digital assets and their growing integration into mainstream financial systems.