The altcoin season index rises to 21, Coinbase is selected for Time Magazine.

Headline

▌The Altcoin Season Index Rises to 21

On June 29, Coinmarketcap data shows that the Altcoin Season Index is currently at 21, an increase of 2 points from yesterday (which was 19). This index indicates that in the past 90 days, about 21 projects among the top 100 cryptocurrencies by market cap have outperformed Bitcoin, and the market is still in a Bitcoin-dominated season. 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 a season dominated by altcoins. The index is based on the performance of the top 100 altcoins relative to Bitcoin over the past 90 days.

▌Coinbase has been selected as one of Time Magazine’s “100 Most Influential Companies in the World” for 2025

Coinbase has successfully been selected for Time magazine’s “100 Most Influential Companies in the World” list for 2025. Time magazine stated: “Since last fall, Coinbase, the largest cryptocurrency trading platform in the United States, has seen its revenue soar to over $2 billion, thanks to the surge of enthusiasm for cryptocurrencies following President Trump’s election victory, with traders and investors flocking to the platform. During the election period, Coinbase led a massive lobbying effort, helping to make cryptocurrency a voting issue. Today, the company became the first cryptocurrency stock to be included in the S&P 500 index in May and has become a key driver of policy efforts for the cryptocurrency industry in Washington, D.C. If legislation beneficial to the industry is passed, Coinbase will become a larger hub for cryptocurrency activity in the United States.”

Market

As of the time of writing, according to data from CoinGecko:

The price of BTC is $107,409, with a 24-hour change of +0.3%;

The price of ETH is $2,433.53, with a 24-hour change of +0.8%;

The BNB price is $647.10, with a 24-hour change of +0.4%;

The price of SOL is $150.79, with a 24-hour change of +6.0%;

The price of DOGE is $0.1637, with a 24-hour change of +1.7%;

The price of XRP is $2.18, with a 24-hour change of +1.1%.

The price of TRX is $0.2751, with a 24-hour change of +0.5%.

Policy

▌U.S. Senate’s No. 2 Republican Barrasso: The Senate will hold its first procedural vote on the Trump tax cut bill at 4 PM

U.S. Senate’s No. 2 Republican, Barrasso, stated that the Senate will hold its first procedural vote on the Trump tax cut bill at 4 PM.

Blockchain Applications

▌Crossmint partners with Visa to implement AI-driven on-chain payments using tokenized credentials

According to Cointelegraph on the X platform, Crossmint has partnered with Visa to implement AI-driven on-chain payments using tokenized credentials.

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

Ethereum co-founder Vitalik Buterin, while analyzing the risks and rewards of digital identity projects utilizing zero-knowledge proofs, stated that the proposal of “one person, one identity” could threaten online anonymity. Vitalik noted that digital identity projects like World could stifle the anonymity enjoyed by many internet users, especially those in the cryptocurrency space. “On the surface, the widespread adoption of zero-knowledge encapsulated digital identities seems like a huge victory, as it can protect our social media, voting, and various internet services from manipulation by bots and fake accounts, all while preserving privacy. However, if implemented too strictly, it could jeopardize anonymity.” Vitalik suggested adopting a diversified model instead of a single zero-knowledge encapsulation “one person, one identity” solution, in which no individual, institution, or platform is solely responsible for issuing digital identities.

****▌Lido DAO’s vote has passed to enable a dual governance mechanism, granting stakers veto power

As the governance DAO of the largest liquid staking protocol on Ethereum, Lido currently manages over a quarter of the total staked Ethereum. Recently, the organization decided with nearly unanimous support to grant stakers the power to delay or veto governance decisions. This “dual governance” mechanism aims to prevent the following situation: Lido token holders (currently the only group authorized to propose and govern proposals through the Lido DAO) from putting forward and passing proposals that could negatively impact stakers or Ethereum itself. According to the new mechanism, Lido stakers (i.e., users holding stETH tokens) can express objections to DAO proposals by depositing stETH into a custody contract. If at least 1% of the total staked ETH in Lido is deposited into this custody contract, the proposal will be delayed by 5 days, and as the amount of stETH deposited increases, the delay time will further grow.

Cryptocurrency

▌Data: Since its launch, Apps on Ethereum have generated approximately $26 billion in user transaction fees

According to Cointelegraph, since its launch, Apps on Ethereum have generated approximately $26 billion in user payment fees. Major contributors to Ethereum’s “economic output” (GDP) include Tether, Uniswap, and Circle.

****▌FARTCOIN突破1.1美元，24小时涨幅达12.3%

The market shows that FARTCOIN has broken through $1.1, currently quoted at $1.09, with a 24-hour increase of 12.3%. The market is highly volatile, please ensure proper risk management.

****▌The net supply of Ethereum increased by 16,260 coins in the past 7 days

According to data from Ultrasound.money, the net supply of Ethereum increased by 16,260 coins in the past 7 days, with an increase of approximately 18,529 ETH in supply, and 2,269 ETH were destroyed through the burn mechanism. The current supply growth rate is 0.702% per year.

****▌SOL breaks through 150 USD

The market shows that SOL has broken through $150, currently quoted at $150.18, with a 24-hour increase of 5.53%. The market is highly volatile, please ensure proper 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, currently reported at $253.238 billion. Among them, the total market value of USDT increased by 1.03%, currently reported at $158.304 billion, with a market share of 62.51%.

Important Economic Dynamics

▌The spokesperson of the Ministry of Commerce answers reporters’ questions on the tariff negotiations between the U.S. and relevant countries

Ministry of Commerce spokesperson: China welcomes all parties to resolve economic and trade differences with the U.S. through equal consultations. At the same time, all parties are called to always stand on the side of fairness and justice, on the side of historical correctness, and firmly uphold 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 such a situation occurs, China will never accept it and will firmly take countermeasures to safeguard its legitimate rights and interests. (Ministry of Commerce)

Golden Encyclopedia

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

Gold-backed tokens and dollar-backed tokens are both stablecoins, but they differ in several ways. Gold-backed stablecoins and dollar-backed stablecoins mainly differ in the collateral that supports their value. Gold-backed stablecoins are pegged to physical gold, typically at a fixed ratio, while some dollar-backed stablecoins are supported by reserves of dollars, short-term securities, and cash deposits. The value of gold-backed stablecoins fluctuates based on the market price of gold, which may experience short-term volatility but tends to appreciate in the long run. Dollar-backed stablecoins maintain a 1:1 peg with the dollar, ensuring more predictable short-term stability. Their value remains stable unless external factors such as regulatory changes or poor reserve management affect the peg rate. Dollar-backed stablecoins have greater liquidity and are widely accepted in the crypto ecosystem, including exchanges, payment systems, and DeFi applications. They are often used for trading and lending. Although gold-backed stablecoins help preserve value, they are rarely integrated into DeFi protocols due to concerns about low liquidity. Gold-backed stablecoins can hedge against inflation, attracting investors seeking growth. Dollar-backed stablecoins are favored by investors seeking stability and value storage.