Portofino Mint - 7 July

🚀 Welcome to the Portofino Mint!

🔥 Hot takeaway

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗵𝗼𝘃𝗲𝗿𝘀 𝗻𝗲𝗮𝗿 $𝟭𝟬𝟵𝗞 𝗮𝘀 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝗱𝗶𝗴𝗲𝘀𝘁 𝘀𝘁𝗿𝗼𝗻𝗴 𝗨.𝗦. 𝗱𝗮𝘁𝗮, 𝗿𝗶𝘀𝗶𝗻𝗴 𝗴𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 𝗿𝗶𝘀𝗸𝘀, 𝗮𝗻𝗱 𝗹𝗼𝗼𝗺𝗶𝗻𝗴 𝘁𝗮𝗿𝗶𝗳𝗳 𝗱𝗲𝗮𝗱𝗹𝗶𝗻𝗲𝘀. 𝗥𝗼𝗯𝗶𝗻𝗵𝗼𝗼𝗱 𝗴𝗿𝗮𝗯𝗯𝗲𝗱 𝗮𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝘄𝗶𝘁𝗵 𝗮 𝗯𝗼𝗹𝗱 𝗺𝗼𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗼𝗸𝗲𝗻𝗶𝘇𝗲𝗱 𝗮𝘀𝘀𝗲𝘁𝘀, 𝘄𝗵𝗶𝗹𝗲 𝗘𝗧𝗛 𝗴𝗮𝗶𝗻𝗲𝗱 𝘁𝗿𝗮𝗰𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗿𝗲𝗮𝘀𝘂𝗿𝘆 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗘𝗧𝗙 𝗼𝗽𝘁𝗶𝗺𝗶𝘀𝗺.

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📊 At a Glance (7-Day Change: 30 Jun - 7 Jul 2025)

🔸 BTC ~$109,000 (+3.8%) — Range-bound but resilient; ETF flows remain strong, with $1B withdrawn from exchanges over 5 weeks.
🔸 ETH ~$2,720 (+4.5%) — Boosted by SharpLink’s $500M ETH treasury move; ETH/BTC stable.

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🗞️ Week in Review

 • Robinhood launches 200+ tokenized U.S. stocks & ETFs in the EU and unveils Arbitrum-based Layer 2.
 • Solana Staking ETF debuts with $20M day-one volume.
 • 14-year-old BTC wallets moved over $8.6B—triggering on-chain debate.
 • TON Foundation offers UAE Golden Visas with $100K staked TON.

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📉 Technicals & Macro trends

 • U.S. jobs data beat (147K vs 110K), but Trump’s tariff threats cast uncertainty.
 • BRICS bloc’s dominance (75% rare earths) amplifies geopolitical leverage and raises market concern
 • Fed likely to hold rates; 30Y yields remain high.
 • DXY weakens; BTC and gold remain firm.

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🧠 On-chain & Derivatives

 • IBIT (iShares Bitcoin Trust ETF) now generates more revenue for Blackrock than IVV (S&P 500 ETF), despite lower AUM.
 • Perps show high short positioning, and rising open interest hints at a potential short squeeze.
 • Implied volatility rising; long-volatility strategies gain traction.

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🧪 Altcoin Watch

 • Top performers: PENGU (+69%), Sui (+7.4%), Pepe (+7.3%)
 • VeChain eyes breakout post-Stargate; XRP triangle in play.
 • BONK & DOGE show fading momentum.

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🏛️ Institutions and Regulation

 • Centrifuge & S&P tokenize the S&P 500.
 • Ripple launches XRPL EVM sidechain.
 • Texas allows BTC in state reserves.
 • Kraken secures full MiCA license.
 • Schiff bill proposes crypto restrictions for U.S. officeholders.

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🗓️ What to Watch

 • July 9 – U.S. tariff announcements (Liberation Day)
 • July 10 – China CPI + global loan data
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Read the Mint of the last week here

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𝘛𝘩𝘪𝘴 𝘮𝘦𝘴𝘴𝘢𝘨𝘦 𝘪𝘴 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘐𝘭𝘭𝘶𝘴𝘵𝘳𝘢𝘵𝘪𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘦𝘥 𝘸𝘪𝘵𝘩 𝘊𝘩𝘢𝘵𝘎𝘗𝘛.