- Coinbase’s Bitcoin Premium Gap has capsized and this could be an indication that BTC could plummet further.
- Infamous founder of Terraform Labs, Do Kwon could plead guilty in US court over $40 billion fraud.
- Pump.fun’s token skyrocketed as the meme coin launchpad regained market share from its top Solana rival, LetsBonk, in recent weeks.
The Bitcoin Coinbase Premium Gap was below the baseline yesterday. The indicator essentially compares the price of Bitcoin on Coinbase and on Binance. When the numbers are in green, it means that the asset is being traded at a higher price on Coinbase.
Another key observation from Coinbase Premium Gap is that when the value is down then it means American investors are selling. While Binance attracts global investors, indicating people around the world are buying.
Luna Founder Expected To Enter In a Guilty Plea
Do Kwon, the South Korean cryptocurrency entrepreneur, is expected to plead guilty to U.S. fraud charges. This development comes after his two digital currencies, TerraUSD and Luna, collapsed in 2022, wiping out an estimated $40 billion in market value.
A brief scheduling order from U.S. District Judge Paul Engelmayer indicated that Kwon may change his plea. A hearing has been scheduled for Tuesday at 10:30 a.m. EDT in Manhattan federal court.
Kwon, who co-founded Terraform Labs, had previously pleaded not guilty to a nine-count indictment that included charges of securities fraud, wire fraud, commodities fraud, and money laundering conspiracy.
PUMP Token Soared by 5% After A Month Long Slump
Pump.fun accounts for 67% of all new Solana meme coin launches, overtaking LetsBonk’s previous lead. The platform’s native token went live on 12th July, 2025
The platform has been the most visited memecoin launchpad since 2024. However it is interesting to note that Lets Bonk overturned Pump.fun as the leading Solana memecoin launchpad, at least in terms of revenue and user activity. Lets Bonk took at least 74% of the total launches on Solana in July, 2025. The platform raised $500 million in their token sale.
PUMP was trading at $0.0031 and quickly climbed to $0.0036 indicating a $16.13% increase.
After launching its Glass Full Foundation last week, an initiative to provide liquidity to popular meme coins, the foundation has drawn a lot of positive attention. However, it wasn’t the initial reason for Pump.fun’s turnaround.
It has recently seen an increase in its trading volume, even though the broader competition has heated up.
As of Sunday, Pump.fun, Bags, and LetsBonk had $134 million, $38 million, and $12 million in trading volume, respectively. This data shows that Bags has surpassed LetsBonk to become the second-largest Solana meme coin launchpad.
With Bitcoin and ETH ETFs making new highs and lows, the market is set to enter a volatile zone. Regulatory shifts and multiple court cases moving ahead, this cycle is set to be more unpredictable.
