Binance Sees Major Liquidations as Crypto Market Pulls Back

The cryptocurrency market experienced a significant downturn, with total market capitalization dropping by 1.03% to $3.28 trillion. Trading volumes also declined by 13%, reaching $97.51 billion, indicating a weakening momentum. Bitcoin maintained its dominance at 65% of the market, while Ethereum accounted for 9%. The pullback led to massive liquidations, with nearly 90,000 traders affected, totaling $202 million. The largest single liquidation occurred on Binance, involving a $2.82 million ETHUSDT position. This event highlights the volatility and risks inherent in the crypto market, even as long-term prospects remain bullish for digital assets.

Crypto Market Retreats as $202M Liquidation Hits BTC, ETH, and XRP

The cryptocurrency market faced a broad pullback, with total capitalization dropping 1.03% to $3.28 trillion. Trading volumes slumped 13% to $97.51 billion, signaling weakening momentum. Bitcoin's dominance held at 65%, while Ethereum accounted for 9% of the market.

Nearly 90,000 traders faced liquidations totaling $202 million, with the largest single liquidation—a $2.82 million ETHUSDT position—occurring on Binance. The Fear & Greed Index hovered at 49, reflecting market indecision.

Bitcoin slipped 0.97% to $106,981 amid cautious trading ahead of U.S. inflation data. Options markets maintained a put-to-call ratio of 0.75, suggesting lingering bullish sentiment despite the downturn.

Ethereum Price Surge Above $2,500—But Is a Pullback Coming?

Ether's bullish momentum pushed its price decisively above $2,500 this week, marking a significant milestone for the cryptocurrency. The rally reflects growing institutional interest and a shift in market sentiment, with Leveraged long positions now dominating derivatives markets.

Analysts caution the uptrend may face near-term headwinds. Popular trader Degen Hardy identifies $2,400 as critical support—a breach of which could signal weakening bullish conviction. The cryptocurrency currently consolidates between $2,400-$2,500 as traders assess whether the breakout can sustain.

Market dynamics show signs of potential overheating. Binance's funding rates flipping from negative to positive suggests excessive optimism, historically a precursor to short-term corrections. With $295 billion in market value at stake, Ethereum's next moves will test whether this is sustainable growth or speculative froth.

The Quest for Token Fundamentals: Crypto's Path to a 'Magnificent Seven'

The crypto industry is grappling with a pivotal question: Do tokens need fundamentals to thrive? At the Permissionless conference, thought leaders including Framework's Michael Anderson and Inversion's Santiago Santos debated whether digital assets could develop their own version of Wall Street's 'Magnificent Seven'—a cohort of dominant performers.

Anderson argues tokens must develop robust business models and clear value accrual mechanisms. "The meta-narrative is: Tokens need to make money," he stated, drawing parallels to traditional GAAP accounting standards. This push for financial transparency could separate future crypto leaders from speculative assets.

BNB emerges as a case study in effective tokenomics, with Anderson calling it "the best token model that exists." Meanwhile, platforms like pump.fun demonstrate how emerging projects might compete for top positions as the market matures.

Binance Founder Declares 0.1 Bitcoin the New American Dream Amid Policy Shift

Changpeng Zhao, co-founder of Binance, has posited that owning 0.1 Bitcoin could redefine the American Dream. This bold assertion follows a potential policy shift by U.S. housing regulators to recognize Bitcoin as reserve capital in mortgage applications.

The Federal Housing Finance Agency, under Director William J. Pulte, has instructed Fannie Mae and Freddie Mac to explore accepting cryptocurrencies as valid reserves. Currently, only fiat-based liquid assets qualify unless converted. The proposed change WOULD require crypto holdings to be verifiable, held on U.S.-regulated exchanges, and subject to risk-adjusted discounts.

Zhao endorsed the MOVE on social media, suggesting that 0.1 BTC may eventually surpass the value of a house. The policy could expand homeownership access for younger generations who hold digital assets rather than traditional savings.

World Liberty Financial Partners with Re7 Labs to Boost USD1 Stablecoin Adoption on BNB Chain

World Liberty Financial has teamed up with Re7 Labs, the DeFi infrastructure arm of Re7 Capital, to accelerate the adoption of its USD1 stablecoin on BNB Chain. The collaboration leverages Re7's $600 million risk-reviewed DeFi infrastructure to underpin USD1's rollout, tapping into Binance's ecosystem for deeper integration.

The move follows USD1 surpassing $2 billion in circulation, marking a strategic shift from its political origins toward institutional-grade DeFi. The partnership aims to strengthen DeFi's foundation with stablecoin rails that meet institutional standards for security, composability, and transparency.

Re7's vault framework introduces real-time monitoring and risk management, signaling a more curated phase for USD1's expansion. This institutional playbook reflects growing demand for structured, compliant digital asset solutions in the evolving crypto landscape.

WazirX Hearing Rescheduled to July 15 Amid $234M Hack Silence

The Singapore High Court has rescheduled the hearing for WazirX's case HC/SUM 940/2025 to July 15, 2025, with a reserve date of July 16. The exchange secured approval to present new restructuring arguments, signaling a pivotal moment for users awaiting resolution after the platform's $234 million hack.

Court-mandated supplemental documents must be submitted by July 4, indicating judicial scrutiny of fresh evidence. Frustration mounts among users as WazirX and co-founder Nischal Shetty maintain silence, leaving the community in limbo.