Global markets showed signs of calm before Monday's opening after the US and Iran signaled a truce over the weekend. Brent crude oil fell as much as 8%, while US tech stocks and index futures rose in pre-market trading, and the 10-year US Treasury yield fell back to 4.63%.
The decline in crude oil prices led to a recovery in market sentiment.
The report noted that US President Trump had hinted last week at possible larger-scale action against Iran, but tensions subsequently de-escalated. On Saturday, both sides announced a truce in the strikes, and Iranian representatives also contacted Omani officials, prompting markets to await a more formal ceasefire agreement.
Following a temporary easing of geopolitical risks, energy prices were the first to fall. The drop in crude oil prices was seen as a direct signal of easing market tensions, and pre-market stock market performance improved accordingly. Meanwhile, investors are still awaiting the Federal Reserve's interest rate decision on July 29th.
Solana ETF saw weekly inflows rise to $7.2 million.
On the crypto market side, Solana ETF inflows have rebounded. SolanaFloor data shows that the ETF recorded a net inflow of $7.2 million last week, its strongest weekly performance since May 22.
- Solana ETF saw a net inflow of $7.2 million this week.
- BTC ETF has seen net inflows for three consecutive weeks.
- The Fear & Greed Index is currently at 39.
Meanwhile, Bitcoin ETFs have seen net inflows for three consecutive weeks, indicating a recovery in sentiment towards mainstream crypto assets. CoinMarketCap's Fear & Greed Index remains in the "fear" zone but is approaching a "neutral" level.
PUMP rose due to the recovery of on-chain transactions.
The rebound in on-chain transaction activity has also driven up the prices of high-risk assets within the Solana ecosystem. The article mentions that PUMP rose approximately 18% in 24 hours, becoming one of the representative tokens in this round of risk appetite recovery.
Blockworks data shows that PUMP currently accounts for 33% of spot trading volume on the Solana chain, ranking among the top DEXs on the chain. DefiLlama data shows that, based on weekly revenue, PUMP is once again one of the highest-grossing applications in the crypto industry, outperforming HyperLiquid.
However, the surge in PUMP's price is accompanied by pressure to unlock tokens. Tokenomist data shows that the project has begun releasing 7 billion tokens monthly to team members and early investors, estimated to be worth approximately $14 million in the article.
Additional information:The report states that Pump currently uses 50% of its protocol revenue to buy back PUMP from the open market and removes the repurchased tokens from circulation to hedge against the increased supply resulting from monthly unlocks.
