Altcoin Seasonal Index rises to 21, Coinbase selected by Time Magazine

Headlines

▌Altcoin Season Index rises to 21

On June 29, Coinmarketcap data showed that the Altcoin Season Index was now at 21, up 2 points from yesterday (19 yesterday). The index shows that in the past 90 days, about 21 projects in the top 100 cryptocurrencies by market value have outperformed Bitcoin, and the market is still in a season dominated by Bitcoin. It is reported that the CMC Cryptocurrency Altcoin Season Index is a real-time indicator used to determine whether the current cryptocurrency market is in an altcoin-dominated season. The index is based on the performance of the top 100 altcoins relative to Bitcoin in the past 90 days.

▌Coinbase was selected as one of Time Magazine's "100 Most Influential Companies in the World" in 2025. Coinbase was successfully selected as one of Time Magazine's "100 Most Influential Companies in the World" in 2025. Time magazine published an article stating: "Since last fall, Coinbase, the largest cryptocurrency trading platform in the United States, has seen its revenue soar to more than $2 billion, thanks to the surge in cryptocurrency enthusiasm after President Trump's victory. Traders and investors have flocked to the platform. During the election, Coinbase led a large-scale lobbying campaign to help cryptocurrency become a voting issue. Now the company has become the first cryptocurrency stock to be included in the S&P 500 index in May, and has become a key driver of cryptocurrency industry policy efforts in Washington, DC. If a bill that benefits the industry is passed, Coinbase will become a larger center for cryptocurrency activities in the United States."

Quotes

As of press time, according to CoinGecko data: BTC price is $107,409, up or down +0.3% in 24 hours; ETH price is $2,433.53, up or down +0.8% in 24 hours; BNB price is $647.10, up or down +0.4% in 24 hours; SOL price is $150.79, up or down +0.6% in 24 hours. style="color: rgb(0, 176, 80);">+6.0%；

DOGE price is 0.1637 US dollars, 24 hours ups and downs +1.7%；

XRP price is 2.18 US dollars, 24 hours ups and downs +1.1%.

TRX price is 0.2751 US dollars, 24 hours ups and downs +0.5%。

Policy

▌Barrasso, the second-ranking Republican in the U.S. Senate: The Senate will hold its first procedural vote on Trump's tax cut bill at 4 pm

Barrasso, the second-ranking Republican in the U.S. Senate, said that the Senate will hold its first procedural vote on Trump's tax cut bill at 4 pm.

Blockchain Application

▌Crossmint cooperates with Visa to use tokenized credentials to achieve AI-driven on-chain payments

According to Cointelegraph on the X platform, Crossmint has cooperated with Visa to use tokenized credentials to achieve AI-driven on-chain payments.

▌Vitalik: World digital ID may threaten online anonymity, recommends a diversified model for issuing digital identities

Ethereum co-founder Vitalik Buterin said the "one person, one identity" proposal could threaten online anonymity when analyzing the risks and rewards of digital identity projects that use zero-knowledge proofs. Vitalik said digital identity projects like World could kill the anonymity enjoyed by many Internet users, especially those in the cryptocurrency field. "On the surface, the widespread adoption of zero-knowledge-encapsulated digital identities seems to be a huge win, protecting our social media, voting and various Internet services from manipulation by robots and fake accounts without compromising privacy. But if implemented too strictly, it could jeopardize anonymity." Vitalik recommends a diversified model rather than a single zero-knowledge-encapsulated "one person, one identity" solution, in which no individual, institution or platform is solely responsible for issuing digital identities.

▌Lido DAO votes to enable dual governance mechanism, giving stakers veto power

As the governance DAO of Ethereum's largest liquidity staking protocol, Lido currently manages more than a quarter of Ethereum's stake. The organization recently decided to give stakers the right to delay or veto governance decisions by a nearly unanimous vote. This "dual governance" mechanism is designed to prevent the following situation: Lido's token holders (currently the only group with the right to create and pass Lido DAO governance proposals) propose and pass proposals that may have a negative impact on stakers or Ethereum itself. Under the new mechanism, Lido's stakers (that is, users who hold stETH tokens) can object to the DAO's proposals by depositing stETH into an escrow contract. If at least 1% of Lido's total staked ETH is deposited in the escrow contract, the proposal will be delayed for 5 days, and the delay time will increase further as the amount of stETH deposited increases.

Cryptocurrency

▌Data: Apps on Ethereum have generated about $26 billion in user payments since their launch

According to Cointelegraph, Apps on Ethereum have generated about $26 billion in user payments since their launch. The main contributors to Ethereum's "economic output" (GDP) include Tether, Uniswap and Circle.

▌FARTCOIN breaks through $1.1, with a 24-hour increase of 12.3%

The market shows that FARTCOIN breaks through $1.1 and is now quoted at $1.09, with a 24-hour increase of 12.3%. The market fluctuates greatly, so please do a good job of risk control.

▌Ethereum's net supply increased by 16,260 in the past 7 days

According to Ultrasound.money data, Ethereum's net supply increased by 16,260 in the past 7 days, of which the supply increased by about 18,529 ETH, and 2269 ETH were destroyed through the destruction mechanism. The supply growth rate is currently 0.702% per year.

▌SOL breaks through $150

The market shows that SOL has broken through $150 and is now at $150.18, with a 24-hour increase of 5.53%. The market is volatile, so please do a good job of risk control.

▌The total market value of stablecoins increased by 0.67% in the past week

According to DefiLlama data, the total market value of stablecoins increased by 0.67% in the past week, and is now reported at 253.238 billion US dollars. Among them, the total market value of USDT increased by 1.03%, and is now reported at 158.304 billion US dollars, with a market share of 62.51%.

Important economic dynamics

▌The spokesperson of the Ministry of Commerce answered reporters' questions on the tariff negotiations between the United States and relevant countries

The spokesperson of the Ministry of Commerce: China is happy to see all parties resolve economic and trade differences with the United States through equal consultations. At the same time, we call on all parties to always stand on the side of fairness and justice, on the right side of history, and resolutely defend international economic and trade rules and the multilateral trading system. China firmly opposes any party reaching a deal at the expense of China's interests in exchange for so-called tariff reductions. If this happens, China will never accept it and will resolutely counter it to safeguard its legitimate rights and interests. (Ministry of Commerce)

Golden Encyclopedia

▌What is the difference between gold-backed stablecoins and dollar-backed stablecoins?

Gold-backed tokens and dollar-backed tokens are both stablecoins, but they differ in several aspects. Gold-backed stablecoins and dollar-backed stablecoins differ mainly in the collateral that supports their value. Gold-backed stablecoins are pegged to physical gold, usually at a fixed ratio, while some dollar-backed stablecoins are backed by US dollars, short-term and cash deposit reserves. The value of gold-backed stablecoins fluctuates according to the market price of gold, which may experience short-term fluctuations but tends to appreciate in the long run. Dollar-backed stablecoins maintain a 1:1 peg to the US dollar, ensuring more predictable short-term stability. Unless external factors such as regulatory changes or reserve mismanagement affect the peg, its value will remain stable. USD-backed stablecoins are more liquid and widely accepted in the crypto ecosystem, including exchanges, payment systems, and DeFi applications. They are often used for trading and lending. Gold-backed stablecoins, while helpful for preserving value, are rarely integrated into DeFi protocols due to concerns about low liquidity. Stablecoins backed by gold can hedge against inflation and attract investors seeking growth. USD-backed stablecoins are favored by investors seeking stability and a store of value.