Weekly Crypto Market Review: ETH Dey Lead Gain as Hong Kong Stablecoin Regulation Don Land
Dis crypto market review cover di dynamics from July 28 to August 3. BTC dey trade for high range but altcoins no too perform well. Di ETH ecosystem na im dey drive market gains, wit clear winners like LOKA, TKX and ZORA. On-chain data show say one whale sell 80,000 BTC but profitability still dey steady for 97% of di circulating supply. Stablecoin supply rise by 1%, and institutional flows into ETH pass last year total.
Hong Kong regulator go open stablecoin license applications from August 1 to September 30, wey go require real-name verification. JD Chain don register “JCOIN” and “JOYCOIN” as pilot HK stablecoins. PayPal don let US merchants accept over 100 cryptos.
For RWA and tokenization, WLFI invest $10 million for Falcon Finance synthetic USDf stablecoin. US digital asset working group recommend make SEC/CFTC roles clear plus better stablecoin laws. MUFG plan tokenize one Osaka office building via Progmat to open retail access to real estate assets.
Main themes be ETH-driven rallies, stablecoin regulation, institutional inflows, and developments for RWA tokenization.
Bullish
Di ETH-led rally an strong institutional inflows dey show say people dey get more confidence. Hong Kong clear stablecoin license framework dey reduce wahala for regulation and fit bring more people wey wan enter market. PayPal expand crypto payments and tokenization of real assets dey make digital assets more legit. Even though BTC get small wahala for short term, all these things before usually mean say more people go start to buy and use am. Di past times when similar tins happen—like when regulators approve am for other places—market usually dey go up for long time. Both short term and long term, better regulation and more infrastructure dey support say market go strong.